By: Alex Dabek

Last Updated: Apr 28, 2021

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The Bottom Line: Coinsquare is in the middle of the pack compared to 11 popular Canadian exchanges I reviewed. Considering they were caught in market manipulation in 2020 to the tune of $1.3 billion, and have really bad employee reviews on Glassdoor I do not recommend this exchange. They made a settlement with the OSC and hired a new CEO and management team so perhaps they can make a comeback. However, I would proceed with caution. Plus, there are better alternatives on the market.


Coinsquare Overview



Coins Available (10):


Fiat Currencies (4):


Best All-In Purchase Fee



Spread: 0.50% (On Mar 01, 2021)

Best Trading Fees:

Maker: 0.1%

Taker: 0.2%

CAD Deposit Fees:


CAD Withdrawal Fees:


Crypto Withdrawal Fees:

0.0005 BTC, 0.005 ETH

Funding Methods

Interac e-Transfer:

Free - Min. $20 - 0-2 Days

Wire Transfer:

Free - Min $10k - Same day


  • Low trading fees and spreads
  • Quick Trade and Advanced Trade 
  • User friendly app and website
  • Caters to everyone whether you're a beginner, day trader, or high net-worth individual  


  • Market Manipulation - In 2020, Coinsquare was caught in market manipulation to the tune of $1.3 billion. There was a settlement with the OSC and a new CEO and new management was hired. 
  • Lots of Internal Issues - On Glassdoor, employees say Coinsquare is a toxic work environment, has bad leadership, and the reviews are overwhelmingly negative.

About Coinsquare

About Coinsquare

Photo: Glassdoor

Coinsquare is operating out of Toronto, Ontario with 80 employees according to LinkedIn. They were founded in 2014 and have really hurt their reputation in 2020 and recent years. They have been involved in wash trading, securities fraud, wrongful termination of employees, and a toxic working environment. Read what Coinsquare employees are saying on Glassdoor

Is Coinsquare Safe?

In 2020, Coinsquare made a settlement with the OSC for market manipulation and misleading investors. They were caught inflating trading volumes to the tune of $1.3 billion. Due to the settlement, the CEO and others stepped down and Coinsquare was forced to hire new management. This is another reason why you should never hold large amounts of crypto on an exchange. The safest way to store your crypto is offline on a hardware wallet or at the very least, download a wallet online.

Main Features

  • 10 coins available and 4 fiat currencies
  • Advanced Trade
  • Quick Trade
  • iOS, Android, and web app
  • OTC Desk for large volume trades
  • Referral program with 45% commissions

Coinsquare Platform

Mobile App

Coinsquare Review App Design

Coinsquare Quick Trade

Coinsquare Web Platform

Coinsquare Advanced Trade

Coinsquare Advanced Trade

Coinsquare Referral Program

Coinsquare Referral Program

Coinsquare Fees

The best purchase fee to buy BTC on Coinsquare was 0.72% on March 1, 2021. Coinsquare was third place out of 11 exchanges in terms of buying Bitcoin behind NDAX (0.50%) and Newton (0.69%).

Fiat Deposit & Withdrawal Fees

Coinsquare Funding Options

Screenshot taken Jan 27, 2021

Coinsquare has two funding options, e-transfer and wire transfer which are both free. Fiat withdrawals are free on most platforms but will cost you 1%-2% on Coinsquare. In January 2021, Coinsquare announced that e-transfers will be free. It used to be 1.50% to deposit so it's good to see they are trying to stay competitive and recover their reputation. 

Crypto Deposit & Withdrawal Fees

It is free to deposit crypto but there are fixed fees to send your crypto to an external wallet. The fixed fees are 0.0005 BTC, 0.005 ETH, and the rest are listed here.

Trading Fees

Coinsquare Trading Fees

Screenshot taken Jan 27, 2021 

The lowest trading fees on Coinsquare can be found using their Advanced Trade platform. It will be a 0.1% maker and 0.2% taker fee.

Coinsquare Spread

Coinsquare Logo

Spread (On Mar 1, 2021)


Buy BTC Price


Sell BTC Price


Reference Price Difference

Buy: +0.52%

Sell: +0.02%

Reference Price


Best All-In Purchase Fee


Data collected on Mar 1, 2021

To get a reference price, I compared Coinsquare's price to Google's price of BTC at the exact same time. I used this as a baseline to compare 11 exchanges. As you can see from the table above, to buy BTC on Coinsquare it was 0.52% higher than Google's price and 0.02% higher if you wanted to sell. The best purchase fee to buy BTC on Coinsquare was 0.72%. It was third place out of 11 exchanges in terms of buying Bitcoin.

Coinsquare Alternatives

I personally look for the cheapest way to buy Bitcoin and altcoins and I assume most people are the same. That's why I recommend Newton to deposit your fiat and Binance if you need to buy altcoins that aren't on Newton. Then, I use Shakepay to get free bitcoin everyday by shaking your phone.

Newton Crypto Exchange

Newton - $25 Bonus - My #1 Pick

Deposit $100 to get $25 free.

Shakepay Exchange

Shakepay - $30 Bonus

Open a new account and deposit $100 to get $30 free. Also, shake your phone every day to get free BTC!

Binance Logo

Binance - Best for Altcoins

Over 150 altcoins and only 0.1% trading fees.

Review coming soon

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