• Minimum Deposit: None
  • Commission Fee: 0.2%
  • Account Options: Good
  • Access to Financial Advisors: No
  • Customer Support: Live Chat, Email, Phone, FAQs

NDAX Review: Pros and Cons [Reviewed in 2022]

Since crypto exchanges can be elusive, it's essential to be familiar with the peculiarities of your chosen platform.

Here, you’ll find all there is to know about NDAX and determine whether or not it's the best for you.

So, let’s roll!

  • Minimum Deposit: None
  • Commission Fee: 0.2%
  • Account Options: Good
  • Access to Financial Advisors: No
  • Customer Support: Live Chat, Email, Phone, FAQs

Best For

Variety of cryptos


  • Competitively low trading fees
  • Instant online verification process
  • No deposits fees
  • Round-the-clock customer service
  • Supports a wide range of cryptocurrencies
  • Supports stop orders, stop-limit orders, and trailing stop orders


  • Withdrawals can come with higher fees
  • Only available in Canada
  • No incentives for high-volume trading besides an OTC service


NDAX is a Canada-based digital currency trading platform. So, at the National Digital Asset Exchange, investors can trade Bitcoin, Ethereum, and 30+ other coins.

The company was founded in 2017 and is one of Canada’s most advanced and secure trading platforms. Moreover, the brokerage serves all Canadians, regardless of their crypto trading experience.

The platform’s low-fee and instant transactions provide a base for satisfied customers and rave reviews.

The NDAX Wealth  Over-The-Counter (OTC) services are one of the most reliable liquidity pools in North America. They significantly help high-volume investors.


The NDAX crypto trading platform is brimming with UNIQUE features. The aim is to ease user integration and improve their experience. Below, you’ll discover how to make the most of the site and reap its benefits.


The “Trade” tab offers a comprehensive overview of the digital currency market. There is a complete list of:

  • available currencies
  • buy and sells price
  • depth
  • 24h volume
  • highs and lows in the last 24 hours.

You can find a customizable chart at the bottom of the page with prices and the previous 6 months’ volumes.

Here’s what the NDAX coin list includes:

  • BTC
  • ETH
  • SHIB
  • USDT
  • ADA
  • XRP
  • AVAX
  • GALA
  • FTM
  • SOL
  • VET
  • LTC
  • USDC
  • RUNE
  • DOGE
  • LINK
  • SAND
  • XLM
  • DOT
  • GRT
  • ALGO
  • LUNC
  • HBAR
  • UNI
  • AXS
  • NEAR
  • TLM
  • AAVE
  • FTM
  • EOS
  • COMP
  • CELO


NDAX has streamlined the staking process for its most popular coins, which offer relatively high yields and can be staked directly from the account dashboard.
Currently, the NDAX coins available for staking are:

  • Ethereum,
  • Cardano, and
  • Polkadot
  • The Graph

The staking CALCULATOR notes your generated passive income and the percent of your average annual return.

Furthermore, the platform includes all the necessary information about your stake, including:

  • the terms
  • the minimum stake
  • the lock-up and unstaking period
  • tracking metrics like total rewards
  • the average annual percentage yield (APY)

The staked coins do NOT leave your cold wallet, and the utmost security protects them. The payouts occur daily or weekly, depending on the coin. Of course, you can opt-out of your staking position anytime.

Referral Program

You don’t have to trade alone on the NDAX app. On the contrary, the platform encourages users to invite friends and join the affiliate program to earn rewards. To become an affiliate, use your NDAX login to get a unique affiliate link.

Then, you can share it with your network or on social media sites and earn FREE crypto for the referrals that have deposited at least CAD$100.

NDAX pays its affiliates 10% commissions and up to $25 per referral, which you will receive in CAD within 30 days.

Moreover, users get commissions on each trade their referrals make on NDAX, which places them in a tiered affiliate program that continuously offers payout. The tiers are:

  • Avid (0-10 referred users monthly, $10 reward per referral)
  • Ambassador (10-20 referred users monthly, $15 reward per referral)
  • Partner (20+ referred users monthly, $25 reward per referral)

However, note that there is a cap of $1000 MAXIMUM commission earnings per referral for 1 year.

NDAX Wealth

NDAX offers an OTC trading desk, called NDAX Wealth, aimed at experienced investors looking to trade $200,000 or more. Through this service, the platform provides investors with:

  • Access to a deep liquidity pool
  • Personalized meetings for guidance
  • Segregated bank accounts
  • No deposit and NDAX withdrawal fees
  • Competitive execution fees
  • Same-day settlement
  • Zero confirmations for crypto deposits
  • Wide range of digital assets
  • Rest, Websocket, and FIX API connectivity

Moreover, the feature provides investors access to expert traders to help them handle the execution and advise them during the process. These experts set up introductory consultations, communicate with you throughout the Slack channel, and present you with a quote for the trade.

After trading, your digital assets are sent to multi-signature cold storage powered by Ledger Vault.

Fees and Deposit & Withdrawal Methods

Currently, there are several funding options at NDAX. Some are no-fee, while others are low-fee. Apart from the 0.2% commission fee, here are some other NDAX fees, payment options, and processing times you should keep in mind:

Deposit  Processing Time Limits
Interac e-Transfer 0-30 minutes None
Wire Transfer 0-1 business day None
Bank Draft 0-1 business day
Instant if deposited at banking partner
Crypto BTC: 3 confirmations
Others: Instant
Send Funds to Another User Instant N/A
Send Gift Instant N/A

Although all deposit options are free, NDAX withdrawals come with a flat fee of $4.99 for both CAD and crypto.

Withdrawal Processing Time Limits
Bank Direct 0-1 business day None
Wire Transfer 0-1 business day None
Crypto 5 minutes N/A
Request Funds from Another User Instant N/A

Eligibility and Application Process

Fortunately, NDAX doesn’t have prohibitive eligibility requirements. But, the only conditions you need to meet are:

  • You are at least 18 years of age in provinces like Alberta, Manitoba, Ontario, Quebec, Prince Edward Island, and Saskatchewan.
  • You are at least 19 years of age in provinces like British Columbia, New Brunswick, Newfoundland and Labrador, the Northwest Territories, Nova Scotia, Nunavut, and Yukon.

If you’re the age of majority in your province or territory, you can create an NDAX account. Here’s the straightforward step-by-step process:

  1. Click the green “Sign Up” button in the top right corner.
  2. Fill in your information and create a username and password.
  3. Wait for your confirmation email.
  4. Click “Activate Account” in your confirmation email.
  5. Log in.
  6. Verify your identity by providing your date of birth, SIN (optional), contact information, account type, and employment type.
  7. Verify your phone number.
  8. Upload or take a picture of a valid Government-Issued ID, Passport, or Driver’s License.
  9. Follow the instructions to submit a selfie.
  10. Submit your verification and expect an answer within 1 business day.

Is NDAX Safe?

Yes, the NDAX app is safe. One of NDAX’s best features is its security standard. It is among the highest in the Canadian FinTech industry and the first crypto platform to receive SOC2 Type II certification in Canada.

NDAX holds most digital assets offline, in cold wallets secured with multi-signature technology. The global leader provides this storage in crypto security and infrastructure, Ledger Vault. Moreover, all accounts are protected by mandatory two-factor authentication (2FA) and alert notifications.

NDAX is a registered Money Service Business (MSB) that adheres to strict privacy laws and holds FINTRAC and Revenu Quebec licenses. As an MSB, it complies with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).


After combing through numerous genuine NDAX user reviews, the takeaway is that the NDAX customer service could use some work. Specifically, some users have complained about the slow response rate of support representatives and their inability to solve specific issues.

However, since the platform incorporates 4 different means of contact, most customers will probably be able to reach a helping hand. Apart from sorting through the comprehensive FAQ page, you can get in touch with NDAX via:

  • Live Chat – available 24/7
  • Email – at [email protected]
  • Phone – at 1-833-727-NDAX(6329)
  • Physical Address – at 250 2 Street Southwest Suite 1820, Calgary, AB T2P 0C1

Besides these, you can also send NDAX a message on one of their social channels, like Reddit, Facebook, Twitter, or LinkedIn.

Want to Consider Other Options?

If you discovered that an NDAX account doesn’t suit you, what else is there to try? Here are some alternatives that might offer just what you need:


Shakepay is a Montreal-based company founded in 2015. It offers easy cryptocurrency trading and allows users to buy and sell Bitcoin and Ethereum with Canadian dollars. Its major selling points are:

  • commission-free trading
  • a recurring buys option
  • an appealing reward program


Wealthsimple is a famous Canadian investment robo-advisor launched in 2014. It provides users with options for wealth management, which also includes crypto. Wealthsimple is Canada’s first regulated crypto platform. It doesn’t charge any commission fees for its assets and offers over 50 coins for trading.


Questrade was founded in 1999 and is an online brokerage aimed at self-directed investors. Along with the various investment products and services, the company offers:

  • a robust trading platform with low fees
  • a mobile app with advanced transactions
  • customized ETF portfolios.

You can also check out this detailed comparison of Wealthsimple and Questrade to further cement your decision. 


Another successful and long-standing Canadian company is none other than Qtrade. Founded in 2000, Qtrade offers a variety of products such as trading platforms, mutual funds, GICs, and ETFs, some of which are entirely commission-free, while others come with low fees. Moreover, the site provides numerous helpful educational tools and articles for smart investing.


Finally, the last Canadian company you should look into is Coinsmart, a cryptocurrency trading and investment platform founded in 2018. The site offers various sought-after features like cryptocurrency wallets, referral programs, low or no-fee transactions, and over 15 crypto coins for trading.

Here’s a detailed comparison of the fees you may incur with any of these platforms:

Company Trading Fees Minimum Deposit Maximum Withdrawal
Shakepay 1-3% spread Interac e-Transfer: $5
Wire transfer: $10,000
Interac e-Transfer: $10,000
Shakepay a friend: $999
Wealthsimple None None Crypto: $25,000
Questrade 1 ¢ per share

Stocks: $4.95

Mutual funds: $9.95

$1,000 ETFs: $50,000 daily
Qtrade Varies None N/A
Coinsmart Single trade: 0.20%

Double trade: 0.30%

Interac e-Transfer: $100
Bank wire: $10,000
Credit/Debit Card: $100
ETFs: $15,000

Bank wire: $5,000,000

Final Verdict

NDAX is an excellent option for those looking for a reliable and user-friendly cryptocurrency trading platform. Thanks to the numerous characteristics, it definitely STANDS OUT among its competitors.

So, since you’ve learned the site’s nooks and crannies from this NDAX review, you will hopefully try it!


Is NDAX IO trustworthy?

Yes, NDAX is a trustworthy company registered as an MSB in Canada. It uses state-of-the-art encryption technology and stores all crypto funds offline in cold wallets.

Is NDAX regulated?

Yes! NDAX has legitimate FINTRAC and Revenue Quebec licenses and adheres to robust security standards.

How long does it take to withdraw money from NDAX?

NDAX cryptocurrency withdrawals are processed instantly and sent to the blockchain. The time it takes to reach your wallet depends on network congestion.

CAD withdrawals are processed every business day at 6:30 PM EST, but delivery depends on your financial institution’s operation hours.

What are the fees for NDAX?

There are no deposit fees for Interac e-Transfers, wire transfers, and bank drafts/certified cheques.

NDAX withdrawals have flat fees of $4.99 for Interac e-Transfers and wire transfers. It has different rates for all currencies for cryptocurrency withdrawals, while deposits are free.

Moreover, NDAX charges trading fees of 0.2%.


Despite her formal background in linguistics, Maja has always been fascinated by the world of finance. She has spent years and years analyzing the market, including trades, investments, pitfalls to avoid as well as the stock exchange. As of recent, she has been studying some non-mainstream stocks in Canada. When I’m not immersed in numbers, I like to spend time with my dog and plan my next trip.