Total Purchase Fee:
0.69% (Mar 01, 2021)
Trading Fees: Free
Spread: 0.69% (Mar 01, 2021)
CAD Deposits/Withdrawals: Free
Crypto Withdrawals: First $5 in network fees is covered
40+ (BTC, ETH, LTC, ADA, DOT, BCH, XLM, XRP, DOGE, UNI, LINK, MATIC, COMP, AAVE, DAI, SNX, SUSHI, CRV, USDC, USDT, QCAD, and more)
Fasted Funding Option:
Interac e-transfer (Free) - 5-30 mins
The Bottom Line: Newton is a very low-cost crypto exchange based in Canada. They have 40+ coins, zero trading fees, and low purchase fees (0.69% total fee to buy Bitcoin). They also have free CAD deposits and withdrawals and cheap crypto withdrawal fees. The main downsides are Newton doesn't have reliable customer support or many advanced features yet such as limit orders.
I ranked Newton 1st overall out of 15 exchanges for Canadians. This is my top recommendation for Canadians who want low, transparent fees, a good user interface, and lots of coins.
Newton vs. the Competition
Compare Newton with 15 other popular Canadian crypto exchanges below. You can see all of the data here.
*Total BTC Purchase Fee
Best CAD Deposit Fee
BTC Withdrawal Fee
0.1% / 0.2%
0.1% / 0.2%
Network fees minus $5
0.80% + $1.25
0.16% / 0.26%
*Total BTC Purchase Fee was calculated on Mar 01, 2021 and changes daily. It adds all fees to make a purchase (CAD deposit fees, trading fees, etc) plus the % difference to Google's price of Bitcoin which was the reference price.
This table is up to date as of Aug 13, 2021
Pros & Cons
Newton.co was founded in 2018 and is headquartered in Toronto, Canada. This relatively new company has over 20 employees according to LinkedIn. They are growing fast and in May 2021, they celebrated having over 200,000 Canadian users.
Newton markets themselves as a low fee cryptocurrency exchange with competitive spreads, no trading fees and low fees overall.
Opening An Account
Opening a Newton account takes 5-10 minutes and is relatively simple. You must verify your personal info and identity in order to open an account. In most cases, verification is instant but can take up to 48 hours in some cases.
Who Is Eligible?
- Canadian citizens and permanent residents
Sign Up Requirements
- Email address
- Canadian phone number
- Name, address, contact info
- Government ID
- Selfie verification
Funding & Withdrawals
Newton doesn't charge any fees for depositing and withdrawing Canadian dollars. For crypto withdrawals, you just pay the network fee for your coin and there are no markups. Newton also gives you $5 off on the crypto withdrawals which makes it cheaper than many exchanges.
Network fees (Newton covers first $5)
Newton's main focus is letting you buy crypto for low fees on a great user interface. For that reason, you won't find many features like pro tools, limit orders, recurring purchases, research tools and so on. However, you will be able to buy Bitcoin and 40+ other crypto's for some of the lowest prices in Canada.
Newton says they are "a no-fee cryptocurrency brokerage." This is not entirely true because they charge fees on the spread, however everything else is free. With that being said, they do have some of the most competitive fees in Canada.
Total BTC Purchase Fee
0.69% (Mar 01, 2021)
Network fees minus $5
Spread (Mar 01, 2021)
BTC Buy Price
BTC Sell Price
Ref. Price Difference
Reference Price (Google)
Every crypto exchange charges you fees on what's called, "the spread." This is the difference you can buy and sell a cryptocurrency for. Every platform does this however, how much they charge you is vastly different on every exchange. Ideally, you want to find the lowest spreads. Newton claims their spread is usually 0.5-0.7% and they transparently show it in real-time on their website:
Screenshot from Jan 7, 2021. See updated spreads here
Crypto Withdrawal Fees
Newton has what they call, "Surge Pricing". For crypto withdrawals, Newton will cover the first $5 in network fees. Anything beyond that will be covered by the user. This $5 is sometimes enough to cover the entire fee and sometimes it's not.
For example, withdrawing XLM is always free on Newton. Withdrawing Bitcoin is sometimes free but if the Bitcoin network is busy, it can cost $10-$15. The network fees are different for every cryptocurrency and also depends how busy the crypto market is. Overall, Newton's crypto withdrawal fees are very low compared to other exchanges.
Is Newton Safe?
Newton is as safe as any other Canadian crypto exchange. Newton has 2FA, they claim to do daily off-site backups, and they have partnered with Balance to provide institutional grade storage for its customers. They've also never been hacked or lost users funds. However, no exchange in the crypto industry is 100% safe. Hacks have happened in the past and they will probably happen again. The safest way to store your crypto is on a hardware wallet.
Is Newton Regulated?
Yes, on Newton's website, they say they are FINTRAC regulated and they are compliant with the latest Canadian regulations, including PIPEDA, and they have an exportable T5 Statement of Investment Income.
Newton offers a knowledge base with articles, FAQs and tutorials and there is a website status page as well. If you need to communicate with their team, it's easy to open a support ticket within the app or website. Their support team hours are Monday to Sunday from 9am-12am EST.
In my experience, when the crypto market is busy Newton's support takes days or weeks to respond or doesn't respond at all which is very frustrating. Recently though, I have been getting responses within 24 hours.
Best Newton Alternatives
Newton is my top recommendation for Canadians however if you're looking for alternatives, here they are:
Check out NDAX if you want more advanced features than what Newton offers. NDAX is also based in Canada and has advanced charts, multiple order types, an order book, and more. It's also just as cheap or cheaper than Newton for purchasing crypto. Downsides are high crypto withdrawal fees and a fixed $25 fee to withdraw fiat.
Binance is a good compliment to Newton if you want hundreds of altcoins or more advanced features like margin, interest accounts, liquidity pools, and more. You can't connect a CAD bank account to Binance that's why I recommend having both a Binance and Newton account. This way you can fund your Binance account cheaply via buying crypto on Newton and transferring it over. The downside is Binance is unavailable in Ontario, so Kraken is a similar alternative.
Out of 15 platforms tested, I ranked Newton as the #1 Crypto exchange for Canadians. It has the most variety of coins (40+) on a Canadian based platform, the second lowest total purchase fees (0.69%), and cheap crypto withdrawals. Plus, it's all packaged into a sleek user interface.
Who Should Use Newton?
- If you want cheap crypto withdrawals compared to other platforms
- If you want the most variety of altcoins on a Canadian platform
- If you want some of the cheapest overall fees in Canada based on real data
- If you want a nice, sleek mobile app and web experience
Who Should Not Use Newton?
- If you want reliable customer support
- If you want advanced features (like limit orders and more)
- Trade 40+ cryptocurrencies
- Fast funding and super low fees
- $25 free when you trade $100
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