Newton is one of the best Canadian crypto trading platforms with competitive features that attract traders with different needs.
Whether you’re just getting started with crypto investing or want to switch your crypto trading platform, you may find Newton perfect over other options out there.
In this Newton review, I provide a detailed coverage of what the platform entails including the available cryptocurrencies, funding options, trading fees, and so on.
In the end, you should be able to decide whether Newton is your perfect crypto trading platform in Canada.
Overview of Newton
Let’s start with an overview of the profile and key features of Newton as of the time of writing this review.
|Year of inception||2018|
|CAD Deposit and withdrawal fees||None|
|Spread||0.5% – 0.7%|
|Trading platform||Web, iOS and, Android|
What is Newton?
Newton is a Canadian-based crypto broker founded in 2018 with headquarters in Toronto, Ontario. The crypto broker distinguishes itself from other Canadian crypto trading platforms with its support for a large selection of digital coins including new and emerging altcoins.
With over 71 crypto coins, no trading, deposit and withdrawal fees, Newton helps you make the most of your crypto trading in Canada.
Unlike other crypto trading platforms, Newton does not have a minimum investment requirement and it supports trading on web browsers and mobile apps.
In summary, Newton is a crypto trading broker for Canadians looking for a simplified and accessible crypto trading platform.
How Does Newton Work?
Newton is crypto broker and it works like every other crypto broker out there. That is, you sign up and fund your account to gain access to the platform. Most applications are approved and verified instantly through the instant verification feature provided by Newton.
Next, you can buy from or sell your cryptocurrencies to Newton. This is unlike crypto exchanges that allow you to trade with other traders on their platform.
While Newton doesn’t charge trading, deposit and withdrawal fees, its quoted buy and sell prices include a small spread to cover its cost of operations. Usually, the spread is between 0.5% – 0.7% for highly liquid coins like Bitcoin, but it can be a little higher for less liquid altcoins.
So if you’re wondering how Newton makes money despite its claim of commission-free crypto trading, the answer is simple – Newton makes money by adding a tiny spread to the quoted prices on its platform.
There are multiple CAD deposit and withdrawal options with Interac e-Transfer being the fastest. Crypto deposits and withdrawals are also supported.
Is Newton Safe for Crypto?
Newton is a safe and secure crypto trading broker and platform for Canadians. It is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Service Business (MSB).
As a PIPEDA-compliant with institutional-grade storage and state-of-the-art encryption, Newton adheres to the industry’s best practices in terms of protecting your personal information and assets.
However, no crypto trading platform is 100% safe. You should take extra measures in protecting your assets and not leave too much of your crypto holdings on a trading platform.
One of the proven and reliable ways of protecting crypto assets is using a crypto wallet. Choose from one of the best crypto wallets in Canada here.
Newton Supported Coins
Newton currently has the largest collection of cryptocurrencies among the Canada-based crypto platform with 71 coins supported at the moment.
Below are some of the current crypto coins available on Newton as of the time of writing this review:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Litecoin (LTC)
- USD Coin (USDC)
- Stellar (XLM)
- Yearn Finance (YFI)
- Uniswap (UNI)
- Decentraland (MANA)
- Terra (LUNA)
- Shiba Inu (SHIB)
- Solana (SOL)
- Avalanche (AVAX)
- Celo (CELO)
- Loopring (LRC)
As the crypto broker continues to update its collection of coins, it will continue to be a one-stop shop for crypto trading in Canada.
Newton Funding Options
Newton has multiple funding options available to its users that want to deposit Canadian dollars or crypto. The platform supports funding through the following ways at no cost:
- Wire transfers
- Pre-authorized bank transfers
- Interac e-Transfers
- Crypto Transfers from external wallets
How Do I Withdraw Money from Newton?
You can withdraw your funds on Newton through its web portal or mobile app at any time for free.
The following are the steps to follow when withdrawing funds on Newton:
- Login to your Newton account
- Go to the “Withdraw” tab
- Choose “Crypto to Wallet”
- Choose the coin you want to withdraw
- Provide your deposit address
- Review and complete your withdrawal
The online withdrawal processes are the same as those of the Newton web portal. All you need is to log in to your account on the Newton website and initiate the withdrawal.
Depending on the amount you want to withdraw, the withdrawal will be processed instantly. But in some instances, Newton has to manually review your withdrawal request which may take up to 48 hours.
Newton Withdrawal Limits
Newton withdrawal limits vary per withdrawal type as shown below:
|EFT||$50,000 per day|
|Interac e-Transfer||$10 minimum per transaction|
$10,000 maximum per transaction
$70,000 per week
|Wire Transfer||$10,000 minimum per transaction|
$1,000,000 maximum per transaction
|Cryptocurrency||5 withdrawals per day|
If you’re an active or advanced crypto trader, Newton has a tailored solution for you known as Newton Pro.
Newton Pro makes you trade like a pro with low spreads, big liquidity, and an extremely low maker and a taker fee of 0.1.
Through Newton Pro, you can trade different crypto pairs, ranging from:
Currently, Newton Pros is not active because it is undergoing some major changes.
What are Newton Fees?
The only fees available on Newton are crypto withdrawal fees and spreads. However, the initial $5 crypto withdrawal fee is waived. Effectively, your withdrawal could be free depending on the current market conditions.
And for the Newton spreads, they typically range between 0.5% – 0.7% added to the reference price of the cryptocurrency.
Besides that, you will not be charged any other fee on Newton be it on deposit, withdrawal or trading. With this fee schedule, Newton is low-cost compared to other crypto trading platforms in Canada.
Besides its lower cost offering, Newton also offers a sign-up promotion to its new users that signed up using a referral code or link and meet the eligibility conditions.
You will get $10 when you sign-up on Newton with this link or the referral code “O7BY2M”. To claim this offer, all you need is to trade a minimum of $100 in cryptocurrencies after signing up.
To earn more, you can share your referral link or code with friends and get a $10 referral bonus for each person that joins Newton through you.
Learn more: Newton Referral Code Review
Newton Pros and Cons
The following are the top pros and cons of Newton based on the above review.
- Instant account verification
- No minimum investment requirement
- Multiple coins compared to other Canadian crypto exchanges
- No deposit, withdrawal and trading fees
- Institutional-grade storage
- High liquidity
- Relatively high spreads compared to international crypto platforms
How to Open a Newton Account
You can open a Newton account within minutes and get approved instantly. Follow the steps below to open a Newton account.
- Visit the application page here
- Enter your email and create a password
- Follow the prompts to complete your application
As soon as your account is verified and approved, you can fund it right away to start trading on Newton.
Newton vs Shakepay
|Number of coins||71||2|
|Minimum investment requirement||None||25|
|Regulator||FINTRAC||FINTRAC and AMF|
Shakepay is another Canadian crypto broker that has been around since 2015. Like Newton, Shakepay doesn’t also charge trading fees, deposit fees and withdrawal fees. However, it also includes a spread on the quoted prices.
With over 1,000,000 users and counting, Shakepay is a trusted crypto app for buying and selling only Bitcoin and Ethereum. While Shakepay has limited coins compared to Newton, it rewards you with Bitcoin upon making purchases with its Shakepay Card.
When you join Shakepay through our referral link and trade a minimum of $100, you will get a $30 bonus.
Overall, Shakepay could be your best Newton alternative if you’re looking for a beginner crypto app and want to trade only bitcoin and Shakepay. For more choice and lower trading costs, Newton outshines Shakepay.
Newton vs Coinberry
|Number of coins||71||35+|
|Minimum investment requirement||None||$50|
|Fees||None||No fees for trading, deposits and withdrawals through e+Transfers and wire transfers. Has variable fees on crypto withdrawals|
|Sign-up bonus||$30||$30 – $50|
Coinberry is another top Newton alternative in Canada that’s popularly recognized as a highly regulated crypto exchange.
As a Money Service Business (MSB) regulated by the FINTRAC and the federal government, Coinberry allows you to trade 35+ crypto coins without trading fees.
Like Newton, Coinberry also allows you to make free deposits and withdrawals via e-Transfers and wire transfers.
However, Coinberry offers a higher welcome bonus than Newton. It welcomes new users that sign-up with this link or promo code “9f0437d0f0f” with $30-$50 bonus depending on the current promotions. All you need is to trade a minimum of $50 to qualify for this competitive bonus.
With instant account verification, automatic crypto investing and Bitcoin payment processing, Coinberry is worth checking out.
Learn more: Coinberry Referral Code
Newton vs Bitbuy
While Newton does not charge a trading fee, Bitbuy has a 0.20% on all trades through its Express Trade platform. However, after factoring in the Newton spreads, you’ll spend less to trade crypto on Bitbuy than you would on Newton.
That said, there is a 0.50% to 1.50% CAD deposit fees on Bitbuy and 1% to 1.50% for withdrawals. Both services are free on Newton. So all things considered, Newton is an overall cheaper crypto platform than Bitbuy.
With just 25 supported, the coins selection at Bitbuy are also currently limited when compared to Newton.
In terms of promotions, new Bitbuy users get a $40 cash bonus when they sign up using this link and deposit a minimum of $250.
Some FAQs FAQs on Newton Review
Newton.co is legit because it’s regulated by FINTRAC and complies with the provisions of PIPEDA.
It’s up to you to decide based on your needs. However, you may find Newton perfect for crypto trading if you’re looking for a Canadian trading platform with multiple coins.
In addition, Newton may also suit your needs due to its high liquidity, pre-authorized bank transfers, zero minimum investment, zero trading fees, zero deposit fees and zero withdrawal fees.
You can buy over 71 crypto coins on Newton ranging from Bitcoin to altcoins such as Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC) and Shiba Inu (SHIB).
Since Newton doesn’t charge deposit, withdrawal and trading fees, you may be wondering how it makes money.
However, the crypto broker makes money by charging between a spread on the quoted prices for buying and selling coins.
All you need is to create a Newton account using this link and follow the steps below to buy Bitcoin on the platform:
Login to your Newton account
Fund your account
Navigate to the coins selection
Choose “Bitcoin” in the coin selection
Enter the amount of Bitcoin you want to buy
Choose funding option
Review your order to complete the transaction
Verdict on Newton Review
Newton is no doubt one of the leading trading platforms in Canada. From the above review, you can see how the crypto broker distinguishes itself on various grounds from the competition.
With Newton’s pros and cons discussed, all you need is to evaluate your needs and determine whether they align with Newton or not.
Overall, my Newton review is positive and it is highly recommended to Canadians looking for a low-cost trading platform with multiple coins. Whether you’re looking to buy your first crypto in Canada or you’re a seasoned crypto investor looking for a Canadian platform, Newton is definitely worth checking out.
If you liked this review, ensure you read our other crypto-related content to make the most of your crypto trading.
Newton is a Canadian-based crypto broker founded in 2018 with headquarters in Toronto, Ontario.