By: Alex Dabek

Last Updated: Jul 24, 2021

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NowFuture Rating:

The Bottom Line: Quick Trade by Coinsquare is a minimal, beginner-friendly crypto exchange that had a 1.48% total purchase fee when tested on May 29, 2021. This was 7th place out of 12 platforms for buying Bitcoin as cheaply as possible.

It's also quick to get verified, has 12 coins plus cheap crypto withdrawal fees however there are better and cheaper crypto exchanges for Canadians such as Newton, NDAX or Shakepay. Also, Coinsquare, has a questionable reputation from 2020 that you need to be aware of. For this reason, I would not hold large amounts of crypto on this exchange.

Quick Trade by Coinsquare

Quick Trade Overview



Coins Available:

12 (BTC, ETH, BCH, LTC, DOGE, XRP, and more)


Total BTC Purchase Fee: 1.48% (May 29, 2021)

Spread: 2.63% (May 29, 2021)

Trading Fees: FREE

BTC Withdrawal Fee: 0.00025 BTC

Funding Methods:

Interac e-Transfer (FREE) - 0-30 mins

Pros & Cons

  • Very simple and beginner friendly
  • Quick verification and setup
  • Good mobile app reviews
  • Relatively cheap crypto withdrawals and free for BCH, LTC, XRP
  • No website app
  • 1.48% total purchase fee (7th place out of 12 exchanges)
  • Bad past reputation (more below)
  • Lack of features
  • Limited funding options and limits (max $10k e-transfer)
  • Can't deposit or withdraw every coin

About Quick Trade

Quick Trade launched in 2021 and is owned by Coinsquare which was founded in 2014. The company offers two different platforms: Quick Trade which is catered to beginners and Coinsquare which offers more coins and advanced features.


Quick Trade has standard security features you'd find on a Canadian exchange. They say they keep 95% of digital assets in cold storage and on the user side, you can enable 2-step verification for your account. There is also touch-id and you can withdraw your crypto if you don't feel comfortable holding it there.

Is Quick Trade Safe?

Quick Trade is probably safe to use but it's never 100% safe to keep your crypto on an online exchange. The parent company, Coinsquare, also doesn't have a clean past. In 2020, they made a settlement with the OSC for market manipulation and misleading investors. Due to the settlement, the CEO and other management were forced to step down.

They also had a data breach in 2020 where some user info was hacked however no funds were lost. Due to issues like this, the safest way to store your crypto is offline on a hardware wallet.

Is Quick Trade Regulated?

Yes, on Coinsquare's website, they state that "we are a registered Money Service Business (MSB) in Canada and therefore follow strict KYC & AML policies outlined by FINTRAC." They also share more details in their AML policy.

Quick Trade Screenshots:

Quick Trade App Screenshots
Quick Trade App Screenshots 2

Quick Trade Verification

Quick Trade Verification Process

Quick Trade's verification process took under 5 minutes for me to set up. I filled out my personal info, address and it automatically verified my identity. The app was a little buggy and didn't let me click some of the buttons which slowed me down but other than that, it was quick.

Funding and Withdrawals





Min. Amount

Interac E-transfer


0-30 mins










Min. Amount

Interac E-transfer


1-2 days



0.00025 BTC

0.001 ETH


0.00025 BTC

0.001 ETH

Quick Trade Fees

The only fees on Quick Trade are the spread (2.63% on May 29, 2021) and crypto withdrawal fees. Canadian deposits and withdrawals are free via e-transfer and there are no trading fees.

Quick Trade's total purchase fee to buy Bitcoin was 1.48% when compared to the price of Google and adding all trading and deposit fees which was none. This ranked 7th place out of 12 platforms. The cheapest place to buy Bitcoin in Canada was NDAX (0.50%).

Crypto Withdrawal Fees

Quick Trade Crypto Withdrawal Fees

Screenshot taken May 30, 2021

How Does Quick Trade Make Money?

Quick Trade has commission-free trades but they make money on the spread. The spread is the difference you can buy and sell crypto for.

For example, during my Quick Trade test, you could buy one Bitcoin for $41,618. However, if you were to sell it right after you would get only $40,551. This is a spread of 2.63%. Having a spread is common in the industry and Quick Trade had the 9th highest spread out of 12 platforms tested.


Quick Trade offers a help centre with FAQs, articles and tutorials. There is also a live chat that can be accessed within the app so you can speak directly with someone on the team. We got a reply within 24 hours when testing the Quick Trade chat support.

Quick Trade vs. the Competition

How I Tested This

Keep in mind, these were tested 3 months apart. I compared 12 crypto exchanges to see how they compare in price and features. For the reference price, I used Google's price of Bitcoin (which takes data from Coinbase). This reference price was the baseline to compare all prices fairly.

Quick Trade by Coinsquare
Newton Exchange

Coins Offered




Best Funding Fee




Fastest Deposit Time

0-30 minutes

0-30 minutes

0-30 minutes

Best Trading Fee








BTC Buy Price




BTC Sell Price




Reference Price Difference

Buy: +1.48%

Sell: -1.13%

Buy: +0.69%

Sell: -0.58%

Buy: +1.43%

Sell: -1.09%

Reference Price* (Google)




Crypto Withdrawal Fees

0.00025 BTC

First $5 of network fees are covered




$25 free when you trade $100

$10 free when you trade $100

Best Purchase Fee





Quick Trade data was recorded on May 29, 2021

Newton and Shakepay was recorded Mar 1, 2021

Where Quick Trade Shines:

  • Simple and Fast - If you want to get verified quickly, deposit money almost instantly and easily trade coins, Quick Trade is very good at that.
  • Cheap Crypto Withdrawals - Quick Trade has free crypto withdrawals for BCH, LTC and XRP. The fees for BTC and ETH withdrawals are also relatively low.

Where Quick Trade Falls Short:

  • Past Reputation - In 2020, Quick Trade's owners, Coinsquare, had a data breach where no funds were lost. They also had a settlement with the OSC for wash trading and misleading investors. The CEO and management were forced to step down but this reputation is definitely something to be aware of.
  • Limited Features - Quick Trade has no website app and there are very minimal features overall.
  • Prices - Because of their spread, Quick Trade ranked 7th out of 12 for buying Bitcoin as cheaply as possible. There are many cheaper options for Canadians. 
  • Competitors - Quick Trade is okay but it's not the best. Canada has many crypto exchanges with better prices features and reputation such as Newton, NDAX and Shakepay. 

In Summary

Quick Trade is simple, quick to get verified and has cheap crypto withdrawal fees. However, it's not the best platform for Canadians because they have a past reputation to be aware of, no website app and it ranked 7th place out of 12 for buying Bitcoin as cheaply as possible in Canada. 

For these reasons, my top recommendations for Canadians are Newton, NDAX and Shakepay which are covered in my best Canadian crypto exchanges post.

Quick Trade by Coinsquare
  • Trade 12 cryptocurrencies
  • Quick verification
  • Beginner-friendly
Newton Exchange
  • Trade 20+ cryptocurrencies
  • Fast funding and super low fees
  • $25 free when you trade $100


What's The Difference Between Quick Trade and Coinsquare?

Quick trade is a mobile app where you can trade up to 12 digital assets. It is designed for beginners with basic trading needs. Whereas, Coinsqaure is for more advanced trading with a website and mobile app. It has many features that pro traders use, such as market chart data, order books, etc.

You should know that registering on Quick Trade doesn't give you access to Coinsquare. They are both independent platforms. So you'll need to have separate accounts.

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