Home  >  Crypto Exchanges  >  Newton

Newton.co

Newton

70+

Coins 

0% (Spread)

Trading Fee 

Toronto

HQ

Last Updated Jun 18, 2024  |  Affiliate Disclosure

  • Review

  • Details

  • Compare

Highlights

  • Newton is a popular Canadian crypto brokerage that is fully regulated in Canada.
  • It has 75+ cryptocurrencies, free Interac e-Transfers, and an easy-to-use design. While they don't charge any trading fees, they make money on the spread which means all the crypto prices are slightly marked up.
  • The company is based in Toronto and is trusted by over 500,000 Canadians.

Bottom Line

I've reviewed over 30 platforms in my search to find the best Canadian exchange. Newton used to be #1, but NDAX and Kraken have taken the tops spots.

The main reason is due to Newton increasing their fees over the last couple years. They used to be the cheapest place in town, but the spreads have doubled to around 3.00%.

If fees don't bother you, they still offer 75+ coins, a great UX, and easy options to deposit Canadian dollars with Interac e-Transfer and more. Their UX is still the best in Canada, as far as I'm concerned, but it's not the cheapest place in town to buy Bitcoin.

Pros & Cons

  • Great Fiat On/Off Ramp. Buy 75 cryptos easily with free Interac e-Transfers and bank transfers.
  • $5 Off Crypto Withdrawals. Newton covers the first $5 in network fees plus has multi-chain support. That means ETH gas fees will be reduced and some coins like BTC and XLM are free to withdraw.
  • Great User-Interface. Beginner-friendly, clean and modern design.
  • No Advanced Trading: Try NDAX or Bitget for advanced trading tools in Canada.
  • Limited Features: Newton focuses on simple buying and selling. There is no advanced trading or variety of features.
  • Fees Have Increased: During 2023, we noticed that Newton more than doubled their spreads to 3% and no longer display their spreads in real-time.
  • Higher Spreads On Altcoins: Smaller altcoins have spreads of 3%-6% roughly. Check out our best altcoin exchanges post for the best rates.

What Is Newton?

Newton is a cryptocurrency brokerage for Canadians with 75+ coins. While they don't offer the most features like MEXC or Crypto.com, they focus on being a fast, easy-to-use fiat on-ramp and off-ramp. There are zero trading fees, free CAD deposits, free CAD withdrawals, and $5 off crypto withdrawals (fees are in the spread).

They were established in 2018 and are based in Toronto. They have 500,000 accounts open in Canada and their latest round valued the company at $250 million. They also recently expanded to the USA.

Tutorial and How It Works

To see how Newton works, you can watch my tutorial video below:

Key Benefits & Features

Here are the key reasons you might want to consider using Newton:

  • Great Fiat On-Ramp and Off-Ramp: Newton has free deposits and withdrawals allowing speedy transfers between your bank account. It supports e-Transfers and wire transfers.
  • 75 Cryptocurrencies: Newton has a good selection of coins when it comes to platforms based in Canada. Only Crypto.com, Kraken and Coinbase offer more coins when it comes to platforms that support Canadian Dollars.
  • Awesome User Interface: While it can be subjective, I think Newton has the best user interface. It's sleek, modern, and very easy to navigate. Simple for beginners.
  • $5 Off Crypto Withdrawals: Newton will cover the first $5 on your crypto withdrawal fees (only 1 per day). They also have multi-chain withdrawals. Very useful if you frequently make transfers  to other crypto exchanges and wallets.

Newton Walkthrough

75+ Coins

Newton offers 75+ cryptocurrencies which you can trade, deposit, and withdraw (see all coins available here). While this gets you access to the major tokens, there are over 20,000 cryptocurrencies according to CoinMarketCap. If you want access to every altcoin, check out how to buy any altcoin in Canada and the best altcoin exchanges for Canadians.

Simple Trading Interface

I would describe Newton as a smooth and simple user-interface. It's easy enough for anyone to make trades, even if they have zero experience with cryptocurrencies. You have access to market orders and limit orders and you can filter between line charts and candlestick charts.

Newton will not be the place for technical indicators, order books, or advanced order types. For advanced trading, NDAX and VirgoCX are better choices for Canadians.

Newton App Market Orders
Newton App Limit Orders

$5 Off Crypto Withdrawals

When you're sending crypto to an external wallet, Newton covers the first $5 in network fees. Every blockchain has different network fees, so some coins like Bitcoin and Stellar will be free. ERC-20 tokens like USDC and ETH will still cost you a little bit.

This discount is convenient if you're sending crypto to cold storage, another wallet, or trying to fund KuCoin or another exchange. Multi-chain withdrawals are also supported. For example, USDC withdrawals can be done on ERC-20, XLM, and SOL to ensure you get the best rates.

Crypto Staking

Newton doesn't have staking yet, but they are launching "Newton Earn". Limited details are available other than that you can join the waitlist here. In the meantime, you can check out the best crypto staking platforms for Canadians here.

Recurring Buys

Newton introduced recurring buys, allowing Canadians to dollar-cost average into the market. You can now DCA into 70+ cryptocurrencies and customize the amount, interval, and more. Keep in mind, Newton does not automatically withdraw funds from your bank account. You must hold a CAD balance in your Newton account for the purchase to go through. If you want a fully automated DCA strategy with pre-authorized withdrawals, check out Beaver Bitcoin and the best DCA platforms for Canadians.

Affiliate Program

Every Newton account can generate an affiliate link to share with friends. You and your friend will both earn $25 when the referral trades $100 on the platform.

Customer Support

Newton's customer service can be contacted via email or in-app messaging. They are available Monday to Sunday from 9am to 12am ET. You can also visit their knowledge base and blog to see common FAQs. In my experience, their customer service has been very slow to respond but it has improved over time.

Opening An Account

Newton has mandatory KYC, meaning you will need to verify your identity to use the platform which is common for Canadian platforms. Opening an account can be done in 10 minutes or less and most people will be instantly verified and ready to trade. According to some online reviews, verification can take days or weeks, however my sign up process was instant.

Who Is Eligible:

  • Canadian residents (Ontario included)
  • Anyone at least 18 years old

Sign Up Requirements:

  • Full name
  • Phone number
  • Address
  • Date of Birth
  • Photo ID
  • Selfie verification

Fees & Spread

In my tests, Newton had a 0.69% total purchase fee to buy BTC (hidden fees included) which was 3rd overall. The total BTC selling fee was 0.64% at 4th overall. The BTC spread was 1.34% at 10th place. So, all fees considered, Newton is one of the cheapest platforms for Canadians to buy Bitcoin and deposit/withdraw Canadian dollars.

On the downside, some of the less-popular altcoins can have higher spreads (3.00%+). If you want the best rates for hundreds of altcoins, you'll want to use see my best altcoin exchanges for Canadians

Newton Fees

Amount

*Total BTC Purchase Fee

0.69% (🏆 3rd place)

*Total BTC Selling Fee

0.64% (4th place)

Trading Fee

Free

CAD Deposits

Free

CAD Withdrawals

Free

BTC Withdrawals

$5 off network fees (usually free)

Other Fees

N/A

More Information

We tested 18 Canadian cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.

  • Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Reference Price Difference
  • Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Reference Price Difference

You can compare all platforms from the price test on this page

Deposit & Withdrawals

Newton is a great fiat on-ramp and off-ramp for Canadian dollars. All transfers are quick, easy, and free. Users can fund or cash out using Interac e-Transfer or wire transfer The crypto withdrawal fees are also cheaper than most platforms since Newton covers the first $5. Coins like BTC, XLM and some others are usually free to withdraw.

CAD Deposits

Type

Fee

Time

Limits (24 hours)

Interac e-Transfer

Free

Nearly Instant

$10,000

Wire Transfer

Free

3-4 Days

$1,000,000

CAD Withdrawals

Type

Fee

Time

Limits (24 hours)

Interac e-Transfer

Free

Nearly Instant

$10,000

EFT (Direct Bank Transfer)

Free

2-4 Days

$50,000

Crypto Withdrawal Fees

Type

Fee

Minimum Withdrawal

Bitcoin

$5 off network fees

$10 worth

Ethereum

$5 off network fees

$10 worth

USDC

$5 off network fees

$10 worth

XLM

$5 off network fees

1 XLM

Newton Security

Newton checks the requirements for a safe, regulated crypto exchange in Canada. They are headquartered in Canada, fully regulated, never been hacked, and hold all digital assets in cold storage. They are fully compliant and users are required to use 2-factor authentication to secure their account.

While Newton is considered safe, keep in mind your funds are not CDIC insurance like a Canadian bank account. It also doesn't replace a hardware wallet or taking self-custody your funds. Crypto brokerages should only be for trading while long term funds should be put in offline storage.

Account Security

  • 2 Factor Authentication via SMS or Authy App
  • Face ID / Touch ID for login
  • Email notifications for trades/withdrawals
  • Address book to save crypto wallets
  • Push notifications for account activity
  • System status available in real-time

Company Security

  • Never had any hacks or incidents (founded in 2018)
  • Holds crypto assets in cold storage
  • Partnered with Balance, their custodian for cold storage
  • Crypto in cold storage is insured (unknown for what amount)
  • Website claims they do "daily off-site backups"
  • FINTRAC registered in Canada: MSB #M19607029
  • OSC Registered (Ontario Securities Commission)
  • Vulnerability program
  • KYC required (must provide identity when signing up)

Summary

After 30+ reviews of Canadian exchanges and brokers, Newton is a good choice for beginner investors. However, you can also check out Newton vs NDAX and Newton vs Shakeapy for more info.

Newton is a great choice for Canadians who want 75+ coins, easy CAD deposits, and a great user interface. However, the fees have increased and you can find better places to buy Bitcoin and altcoins at better rates (like NDAX).

Reasons To Use Newton

  • A great fiat on-ramp and off-ramp (fast deposits/withdrawals)
  • $5 off your crypto transfers (limited to 1 per day)
  • Great user-interface on web and mobile
  • Set up recurring buys for 75+ coins

Reasons To Not Use Newton

  • No Advanced Trading (Use NDAX for advanced trading in Canada or LBank for a global exchange)
  • Limited features compared to other platforms
  • Higher liquidity and better rates available on LBank, Kraken, and large altcoin exchanges
Newton.co

Get $25 Free when you Trade $100

FAQs

How Does Newton Make Money?

Newton is not a free platform. They make money by charging you a spread which is the difference in the price you can buy and sell cryptocurrency for. This is where many platforms charge hidden fees.

Can I Hold My Crypto On Newton?

Newton is FINTRAC registered, OSC registered and considered a safe platform with all things considered. However, it's still a centralized platform. Long term holdings are should be held in self-custody, ideally in cold storage.

Is Newton Good for Beginners?

Newton is very easy to use, regardless of experience level. The app is easy to navigate and you can quickly fund your account with Interac e-Transfer.

Is Newton CDIC Insured?

On Newton, your funds are not CDIC insured like a traditional bank account. Newton does have lots of other security feature in place, like storing crypto in cold storage. However, if they lose your funds, it could be gone for good so make sure to have good security habits in place.

Author

Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.


Compare Canada's

Crypto Exchanges

Save hours of research. We signed up for every crypto exchange and brokerage so you don't have to.