Ndax review
- Fiat currencies
- 1
- Supported assets
- 41
Our verdict
A standout player in the Canadian crypto market, Ndax offers low-free trades and free deposits.
Ndax is a homegrown crypto exchange for new and seasoned crypto enthusiasts in Canada. Registration is painless, the interface is easy to navigate and the fees are straightforward.
The platform is a solid choice if you want a regulated exchange that's easy to sign up for and not too hard on the wallet. But you can only open a Ndax account if you live in Canada, and CAD is the only supported fiat currency.
Pros
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Easy signup & instant ID verification
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Flat fee (0.2% to buy or sell crypto)
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No minimum or maximum deposit
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Flexible staking arrangements
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Live chat customer support (during business hours)
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Registered with FINTRAC, pre-registered with the Canadian Securities Administrators (CSA)
Cons
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Limited number of cryptos
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Only supports CAD fiat currency
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No debit/credit payment, $4.99 fee for wire transfers
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No margin, futures or options trading
Details
Product details
| Product Name | Ndax Cryptocurrency Trading Platform |
| Fiat Currencies | CAD |
| Cryptocurrencies | BTC, ETH, SOL, USDC, XRP, DOGE, ADA & 34 more |
| Deposit Methods |
Cryptocurrency Interac e-Transfer Wire transfer |
| Trading Fee | 0.2% to buy or sell crypto |
| Deposit Fees |
Interac e-Transfer: $0 Wire: $0 Crypto: $0 |
| Withdrawal Fees |
Interac e-Transfer: $1.50 Wire: $4.99 Crypto: Varies (free instant transfers between Ndax accounts) |
Ratings methodology - how we scored Ndax
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
Listed Ndax crypto exchange assets
Ndax supports over 41 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 11 of the top 20 cryptos are available on Ndax.
Popular assets on NdaxNdax fees
Ndax Crypto, wire and interac e-transfer deposits are free for folks in Canada.
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Interac e-Transfer: $0 Wire: $0 Crypto: $0 |
| Withdraw funds | Interac e-Transfer: $1.50 Wire: $4.99 Crypto: Varies (free instant transfers between Ndax accounts) |
Ndax deposit methods
- Cryptocurrency
- Interac e-Transfer
- Wire transfer
How to sign up on Ndax exchange
Before you can even get started trading on Ndax, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Ndax's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Ndax account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Ndax.
Is Ndax safe?
Ndax employs best practices across the board for its security and insurance. It hasn’t experienced any hacks or data breaches. Ndax actively seeks to implement the most secure protocols and encourages its users to report any possible weaknesses they uncover.
The trading platform holds most of the crypto assets in cold storage protected by Ledger Vault technology. Moving funds to and from the cold storage requires multiple signatures from Ndax’s senior management. Additionally, Ndax’s cold storage is whitelisted which restricts which addresses that funds can be moved to. The hot wallets implement Multi-Party Computation (MPC) technology.
Past hacks
Ndax hasn’t experienced any successful hacks on the trading platform.
Ndax security audits
Ndax is registered and fully compliant with FINTRAC and Securities Quebec as a Money Services Business (MSB). The trading platform complies with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Ndax requires mandatory 2FA (2-factor authentication) to deposit or withdraw funds on the trading platform.
Both Ndax’s cold and hot wallet service providers are System and Organisational Controls (SOC) 2, type 1 certified. However, Ndax’s internal security hasn’t been audited.
Insurance. Ndax holds:
Keeping your crypto secure
All centralised exchanges, including Ndax, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
Ndax customer support
Ndax has several different customer support options. There is a comprehensive support page that covers the majority of issues and frequently asked questions that users may run into.
There is a live chat option available during business hours Monday through Friday. However, you need to have a registered account to use this, so if your issue is with the registration process itself, you'll need to use a different option.
You can also contact Ndax customer service via support ticket, email or phone. Support is available Monday to Friday from 10:00 am to 12:00 am EST.
How to reach Ndax customer support
- Help center articles
- Live chat
- Phone
- Support ticket
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