Is NDAX safe? Our 2026 review

NDAX is a Canadian crypto platform best known for its flat trading fee. On the regulatory side, it sits in the most tightly supervised group of crypto platforms in the country.

NDAX’s registration

The notice at the foot of NDAX’s fee page says Ndax Canada Inc. “is a registered investment dealer under securities legislation in all provinces and territories of Canada, and is a member of the Canadian Investment Regulatory Organization (CIRO) and of the Canadian Investor Protection Fund (CIPF).” It adds that the registration is subject to terms and conditions set out in a decision by the securities regulators.

The regulators’ register lists Ndax Canada Inc. as an investment dealer, covering both dealer and marketplace, with its latest decision dated 19 December 2024.

Investment dealer status is the higher of the two types of registration for crypto platforms in Canada. You can compare it with the other platforms on our registered list.

How NDAX holds your crypto

NDAX’s security page says at least 80% of client crypto is held with outside custodians, in segregated omnibus accounts “in the name of Ndax in trust for or for the benefit of Ndax’s clients.” Cold storage is used for most client assets. Its user agreement, last updated 15 September 2026, names the custodians as BitGo Trust Company, Inc. and Coinbase Custody Trust Company. A small share may sit in NDAX’s own hot wallet to handle deposits, withdrawals, trades and staking.

The security page says NDAX can’t pledge or lend out client crypto, except coins you’ve chosen to stake. It checks each month that the crypto held by custodians and in its own wallets matches its records.

On insurance, NDAX says it holds a Crime and Financial Institution Bond covering certain losses of crypto held in the wallets it runs, subject to the policy’s terms and limits. Each custodian also carries its own insurance for crypto in cold storage.

CIPF covers cash, not crypto. NDAX’s notice says Canadian dollars in your account are protected by CIPF’s Investment Dealer Fund, but “CIPF coverage does not extend to any virtual assets held in user’s accounts.” Your crypto isn’t covered by CDIC either.

Fees

NDAX’s fee page says it “charges a flat 0.20% trading fee on every buy and sell order.” The rate is the same at any trade size, with no volume tiers and no split between makers and takers. You trade at the order book price, with the 0.20% added on top and shown before you confirm. On a $5,000 trade, that’s $10.

The smallest trade is roughly $1 to $5, depending on the coin. If you stake crypto or use Auto Earn, NDAX keeps 20% of the rewards as an administration fee.

Deposits and withdrawals

NDAX charges nothing to deposit by Interac e-Transfer, wire or crypto, and it sets no minimum deposit. Interac deposits arrive in 0 to 30 minutes and wires in 0 to 1 business days.

Withdrawals in Canadian dollars cost a flat fee:

• Interac e-Transfer: $1.50, up to $10,000 per transaction, in 0 to 30 minutes.
• Direct bank deposit (EFT): $4.99, with no minimum or maximum, in 0 to 1 business days.

Sending crypto to an outside wallet costs a flat amount for each coin and network, which NDAX shows before you confirm. Its table of those amounts didn’t load when we checked, so we haven’t listed any. Moving funds to another NDAX account carries no fee.

Investment limits

NDAX’s user agreement says that if you live outside British Columbia, Manitoba and Quebec, or in any of the territories, you may face investment limits when trading certain coins. It doesn’t give the amounts on that page.

Frequently asked questions

Is NDAX legit?

Yes. Ndax Canada Inc. is registered with Canada’s securities regulators as an investment dealer in every province and territory, and is a member of CIRO and CIPF.

Is my crypto insured on NDAX?

NDAX holds an insurance bond covering certain losses of crypto, and its custodians carry their own insurance. Those are private arrangements with limits, not a government scheme. Your crypto isn’t covered by CIPF or CDIC, and its price can still fall.

How much does NDAX charge?

A flat 0.20% on each trade, with no fee to deposit. Interac withdrawals cost $1.50 and bank withdrawals $4.99. Our comparison of registered exchanges shows how other platforms price their trades.

Sources

Checked 8 November 2026.

• NDAX, fees and regulatory notice
• NDAX, security
• NDAX, user agreement
• New Brunswick Financial and Consumer Services Commission, registered crypto asset trading platforms