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VirgoCX vs Newton 2023

VirgoCX and Newton offer some of the best crypto trading apps in Canada. Both are reputed as low-cost crypto exchanges that allow Canadians to access and trade a wide selection of cryptocurrencies with zero commissions.

Instead of levying extra trading or deposit/withdrawal fees, the two exchanges assess in-build bid-ask spreads that may run up to 2% or more.

This VirgoCX vs Newton comparison compares their top features side by side so that you can choose the one that fits your trading needs.

VirgoCX Overview

Launched in 2018, VirgoCX is one of the best crypto exchanges in Canada that provides easy, safe, and affordable access to crypto assets.

It operates as a FINTRAC-registered Money Service Business (MSB) and a Restricted Dealer registered with CSA.

The Toronto-based exchange offers commission-free trading and doesn’t charge any extra deposit or withdrawal fees. 

It also offers instant deposits via Interac e-Transfer, Bill Payment, wire transfers, and crypto deposits from an external wallet so that you can start trading within minutes.

Users can access and trade a wide selection of top coins, including Bitcoin, Ethereum, and many Meterve and NFT/Web3 coins, at competitive prices, excellent liquidity, and tight spreads.

VirgoCX is great for both beginners and experienced traders looking to buy crypto easily and quickly with CAD or USD.

VirgoCX

virgocx logo

Trade several popular coins

Great crypto broker for newbies

0.50% to 2.50% trading fee

Get a $20 bonus when you deposit $100

Newton Overview

Newton is a trusted, low-cost crypto trading platform that allows Canadians to buy a wide selection of 70+ crypto coins at zero commissions.

The Toronto-based exchange was founded in 2018 and operates a FINTRAC-registered MBS that’s PIPEDA-compliant.

It offers instant account verification and free fiat deposits/withdrawals through Interac e-Transfer, wire transfer, pre-authorized debit, and crypto deposits.

Users can also deposit crypto from an external wallet, in which case Newton will cover the first $5 in network fees for crypto transactions.

The platform is accessible via its web interface or the Newton crypto trading apps for iOS/Android and is great for beginners looking to buy a wide selection of crypto coins instantly using Canadian dollars.

Newton

newtonlogo

Trade several popular coins

Excellent crypto broker for newbies

Up to 2.20% trading fee

Get a $25 bonus when you trade $100

VirgoCX vs Binance: Top Features Compared

Funding methods

Once you’ve created and verified your VirgoCX account, you can fund your wallet via Interac e-Transfer, Bill Payment, Wire Transfer, and crypto deposit from an external wallet.

Newton also supports four funding methods, including Interac e-Transfer, wire transfer, pre-authorized debit, and crypto deposits.

Trading platforms

VirgoCX and Newton are accessible via their web interface or mobile crypto trading apps for iOS and Android.

VirgoCX offers a more advanced trading platform than Newton. Newton only offers basic trading features; hence it is great for beginners.

VirgoCX offers basic and advanced trading features and Tradeview charting tools to accommodate both beginners and seasoned traders.

NTF marketplace

VirgoCX offers an NFT brokerage service where users can find, trade, and collect trendy NFTs. Newton doesn’t support NFT trading.

OTC Desk

VirgoCX offers an OTC trade desk to allow institutional traders to seamlessly execute high-value transactions over $30,000 through VirgoCX Wealth.

As of this writing, Newton doesn’t seem to offer OTC services.

Recurring Buys

VirgoCX offers a recurring buy feature to allow you to buy crypto with a predetermined schedule, say daily, weekly, bi-weekly, or monthly. This dollar cost-averaging method helps you save time and reduce risk.

Newton doesn’t support this feature.

VirgoCX vs Newton: Supported Cryptocurrencies

Both VirgoCX and Newton support a wide selection of 70+ cryptocurrencies.

Top coins on VirgoCX and Newton include Bitcoin, Ethereum, Cardano, Solana, Avalanche, USDC, Polkadot, DOGE, Polygon, SHIBA INU, Dai, Cosmos, Chainlink, Litecoin, NEAR, Uniswap, ApeCoin, Algorand, and 50+ others.

VirgoCX vs Newton: Trading Fees

Both VirgoCX and Newton offer commission-free trading of crypto assets, and they don’t levy any extra trading or deposit/withdrawal fees.

So, how do they make money?

Of course, there is no free lunch in the crypto market, and at the end of the day, you’ll have to bear some costs. To make money, the two platform charge in-built bid-ask spread fees as follows:

VirgoCX fees

VirgoCX bid-ask spread fee varies 0.5%-2.5% depending on the crypto asset tier you are trading.

Newton fees

Newton bid-ask spread fee varies from 0.70%-2.20% depending on the cryptocurrency you are buying.

VirgoCX vs Newton: Promotions

VirgoCX offers a $20 sign-up bonus to new users who sign up, verify their accounts, and make a deposit of $100 CAD ($5 when you complete KYC and $15 when you fund your account).

Newton offers a $25 cash bonus if you complete KYC verification and trade at least $100 worth of crypto.

Is VirgoCX Safe?

VirgoCX employs best-in-class security measures to keep your digital assets safe, including 2FA, SSL protocols, third-party custody of coins with Coinbase, and reliable banking and payment partners to ensure the secure transfer of fiat currencies.

Is Newton Safe?

Newton keeps your assets safe via cold storage, third-party custody with Balance, daily off-site backups, institutional grade storage, storage of customer data in Canada, and direct bank integrations to minimize fraud.

VirgoCX Pros & Cons

Pros

  • A wide crypto list of 60+ coins
  • Offers commission-free trading
  • Offers an NFT brokerage service
  • Recurring buy feature to minimize risk via dollar-cost-averaging
  • Advanced trading features and TradeView charting tools
  • Supports CAD and USD as fiat
  • Top security via 2FA, SSL encryption, and Coinbase Custody
  • Generous sign-up bonus of $30
  • An OTC desk to fill large orders

Cons

  • Expensive crypto spreads, up to 2.5%
  • Only available in Canada
  • Supports only CAD and USD as fiat

Newton Pros & Cons

Pros

  • A robust crypto list of 70+ coins
  • Offers commission-free trading
  • Free deposits and withdrawals
  • Offers automatic, instant account verification
  • An easy-to-use platform that’s great for beginners
  • Competitive spreads
  • Generous signup bonus of $25

Cons

  • Expensive spreads, up to 2.1%
  • Doesn’t offer advanced trading features/charting tools
  • Only available in Canada
  • Supports only CAD as fiat

VirgoCX vs Newton: Best For

VirgoCX offers basic and advanced trading features/charting tools and is a good choice for beginners and experienced traders looking to buy crypto with CAD or USD at competitive spreads.

Newton only offers basic trading features and will work well for beginners looking to buy a wide selection of cryptocurrencies on a simple, easy-to-use platform.

VirgoCX vs Newton: Table Breakdown

FeatureVirgoCXNewton
Supported coins60+ coins70+ coins
Bid-ask spreads0.5% to 2.5%0.70% to 2.20%
Deposit/withdrawal feeFreeFree

Funding options
Interac e-Transfer, Bill Payment, Wire Transfer, and crypto depositInterac e-Transfer, wire transfer, pre-authorized debit, and crypto deposits.
Security2FA, cold storage, third-party custody, reliable bank partnerCold storage, third-party custody, direct bank integration
Trading platformsBasic/advanced web interface and mobile crypto trading appsBasic web platform and mobile apps

NFT trading
YesNo
OTC deskYesNo
Recurring buysYesNo
PromotionsGet a $20 cash bonus when you verify your account and deposit $100+Get a $25 signup bonus when you trade $100+

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

Related:

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Crypto trading platform for beginners and advanced traders.

Access to several popular coins.

Low trading fees at 0.20% and multiple fiat currencies supported.

$50 instant bonus when you deposit $200.

Easily deposit and withdraw both fiat and crypto.

A publicly traded company on the Canadian NEO exchange.

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Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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