VirgoCX vs Newton: Which Is The Better Crypto Platform?

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Choosing the best crypto trading platform is one of the smartest moves you can make to manage your investment in the highly volatile crypto market. 

You may be contemplating which to choose between VirgoCX vs Newton because they’re among the best crypto trading platforms in Canada. Besides supporting multiple crypto coins, waiving deposit fees, cash withdrawal fees and trading fees, both VirgoCX and Newton were launched in 2018 and are regulated by FINTRAC. 

In addition, the two platforms are based in Toronto and don’t require a minimum investment balance to start trading. Despite these similarities, VirgoCX and Newton differ in a number of areas.

This article aims to cover the key differences between the two trading platforms so that you can easily choose the one that suits your needs. 


Overview of VirgoCX

VirgoCX is a crypto trading exchange established in 2018 with the aim of making crypto trading safe, easy and affordable in Canada.

Based in Toronto, VirgoCX operates a Money Service Business (MSB) and distinguished itself from the competition with multiple digital services, ranging from:

  • Crypto trading
  • OTC trading
  • NFT investment

The exchange gives Canadians access to over 60+ cryptocurrencies that can be traded for free using CAD or USD fiat currencies. 

With a 5x cheaper foreign transaction exchange rate, VirgoCX positions itself as a cost-effective crypto exchange in Canada.


VirgoCX Key Features

For a better understanding of how VirgoCX operates, let’s go over its key features below: 

1. Free Crypto Trading

VirgoCX allows you to trade 64 crypto coins without trading fees and minimum investment requirements. This includes Bitcoin, Ether and altcoins such as: 

  • SHIBA INU
  • Cardano 
  • USDC 
  • Solana
  • Dai
  • Avalanche 
  • Cosmos 
  • Polygon 
  • Polkadot 

2. OTC Direct

Over-the-Counter (OTC) trade is a tailored solution for traders that execute a large volume of trades. 

VirgoCX offers access to OTC Direct platform to help you access more personalized solutions and save costs on your crypto trading.

Through VirgoCX OTC Direct, you will be attached with a personal account manager, access rapid settlement and the best execution on over 40 coins.

3. NFT Marketplace

The NFT market continues to grow and become mainstream. If you’re looking to invest in NFT while trading crypto coins, VirgoCX is a top choice in Canada. 

As the first exchange to offer access to the NFT marketplace in Canada, VirgoCX offers Canadian access to buy and sell their favourite NFTs in one place.

More so, you can invest in some of the latest and most popular NFTs on the exchange which is a great way to diversify your crypto investment. 

4. Foreign Exchange

Even though VirgoCX supports funding with CAD and US dollars, it still provides access to low-cost foreign exchange transactions. 

Based on the platform’s claims, its foreign exchange rates are 5x cheaper than the rate of Canadian banks. 


VirgoCX Pros and Cons

In the light of the above analysis, we can identify the following pros and cons of VirgoCX.

Pros

  • Large selection of crypto coins: VirgoCX has one of most comprehensive collection of coins among Canadian crypto exchanges. 
  • No minimum investment required: This allows you to start investing with as little as $1 without any pressure.
  • Low fees: Besides free trading and deposits, the exchange still allows you to make free cash withdrawals
  • Generous welcome bonus: The VirgoCX $30 welcome bonus is generous and competitive compared to what’s available out there. 
  • CAD and USD funding: This feature is lacking in most Canadian crypto exchanges including Newton.
  • Advanced features:  Unlike other crypto trading platforms in Canada, VirgoCX offers access to crypto trading,  OTC trading, NFT marketplace and foreign crypto transactions.
  • Auto deposit and withdrawals: With this, you can enjoy a hands-off experience on your crypto trading, helping you focus on other aspects of your life. 

Cons

  • Crypto withdrawal fees: While the crypto withdrawal fees are relatively low, there are many crypto exchanges in Canada that don’t charge both cash and crypto withdrawal fees.

Learn more: VirgoCX Review


Overview of Newton

Newton is a crypto trading broker based in Toronto. The broker was also launched in 2018 to offer Canadians a low-cost crypto trading platform.

Accordingly, the broker doesn’t charge deposit fees, trading fees, and cash withdrawal fees. Since it’s a broker, you can only trade crypto coins with Newton, not with other traders.

That said, Newton is currently one of the leading crypto trading platforms in Canada in terms of supported cryptocurrencies. It currently offers access to 71 crypto coins including Bitcoin, Ethereum, Litecoin and so on.

For advanced and active crypto traders, the broker offers a customized trading platform called “Newton Pro”.

With no minimum investment requirement, you can start trading your favourite coins on Newton with any amount.


Newton Key Features

Newton stands out from the crowd with the following key features: 

1. Free Crypto Trading

The exchange offers access to trade 71 cryptocurrencies without trading fees. This includes Bitcoin and altcoins, such as: 

  • Ethereum
  • Cardano 
  • Litecoin 
  • Stellar 
  • Dogecoin 
  • Shiba Inu 
  • Uniswap 
  • Celo 
  • Terra
  • Loopring 

2. Newton Pro

If you trade large volumes or are looking for advanced trading tools, the Newton Pro platform is designed to offer you a customized solution.

With Newton Pro, you can trade a wide range of crypto pairs like a pro while taking advantage of big liquidity, small spreads and 0.1% low maker and taker fees.

Below are some of the available crypto pairs you can trade on the platform.

  • BTC/QCAD
  • BTC/USDC
  • USDT/USDC
  • ETH/USDC
  • ETH/QCAD
  • LTC/USDC
  • QCAD/USDC

While the Newton Pro platform is currently undergoing changes, you can sign-up ahead of its reactivation.


Newton Pros and Cons 

Let’s take a look at some of the top pros and cons of Newton.

Pros

  • Large crypto coins selection: Newton could be your one-stop shop for crypto trading in Canada as it offers some of the highest collections of coins in the country.
  • No minimum investment required: You can start trading crypto with as low as $1 on Newton, unlike other platforms that require up to a $100 minimum balance.
  • Freebies: Trade without worrying about deposit fees, trading fees and cash withdrawal fees.
  • Pre-authorized bank transfers: Save yourself the stress of manual account funding with pre-authorized bank transfers. 
  • High liquidity: With high crypto coins and trading volumes, you can expect a great deal of liquidity on the exchange. 
  • Generous welcome bonus: Newton’s $25 welcome bonus is also competitive compared to the offers of other exchanges out there. 

Cons

  • Limited fiat currencies: Compared to other Canadian crypto exchanges including VirgoCX, Newton has limited fiat currencies as it only accepts Canadian dollars.

Learn more: Newton Review 


VirgoCX vs Newton

From the above overview of the 2 Canadian crypto platforms, we can now identify the following similarities and differences between VirgoCX and Newton.

Key FeaturesVirgoCXNewton
Number of coins6471
Fiat currencyCAD & USDCAD
Minimum investment NoneNone
Funding methodsInterac e-Transfer, Wire transfer & Cryptoe-Transfer, Wire transfer, Bank account & Crypto
Trading feesNoneNone
Deposit feesNoneNone
Withdrawal feesFree cash withdrawals.  Variable crypto withdrawal feesFree cash withdrawals.  Variable crypto withdrawal fees
Sign-up bonus$30 bonus$25 bonus
FINTRAC regulationYesYes

Let’s now take a detailed view of the key differences between VirgoCX and Newton. 

VirgoCX vs Newton: Platform Type

While both VirgoCX and Newton work as crypto trading platforms, they operate differently. VirgoCX operates as a crypto exchange while Newton operates as a crypto broker

What this means is that you can exchange crypto coins with other traders on VirgoCX. On the other hand, you can only trade crypto coins with Newton. 

Nevertheless, since operational status doesn’t affect the performance of a crypto trading platform, you can’t go wrong with either a crypto exchange or crypto broker as long as they offer low fees and tight spreads. 

VirgoCX vs Newton: Supported Coins

Both VirgoCX and Newton have some of the highest collections of cryptocurrencies in Canada, ranging from Bitcoin to altcoins.

While VirgoCX supports 64 Coins, Newton supports 71 coins.

Both platforms offers enough crypto coins and most users will find the available coin options more than enough. But if you have to choose between the 2 based on the coins you can trade, then Newton is the winner.

VirgoCX vs Newton: Funding Methods

Both platforms support funding via Interac e-Transfers, wire transfers and crypto transfers. However, Newton allows you to set up pre-authorized bank transfers. 

On the other hand, VirgoCX allows you to set up auto deposits and withdrawals through Interac e-Transfer. Unlike Newton, VirgoCX allows you to fund your account with either CAD or USD.

VirgoCX vs Newton: Fees

Both VirgoCX and Newton don’t charge deposit fees, trading fees and cash withdrawal fees. However, both platforms charge crypto withdrawal fees. 

The VirgoCX crypto withdrawal fees vary. Some coins don’t have withdrawal fees while others have low fees.

On the other hand, Newton’s crypto withdrawal fees depend on the transactions and blockchain fees. However, the initial $5 mining fee is waived. 

In this regard, you can see that both VirgoCX and Newton have a low-fee schedule and you can’t go wrong with any of them based on fee.

VirgoCX vs Newton: Trading Platform

The two crypto trading platforms allow you to trade via web browser, iOS or Android device. Both platforms also have dedicated trading platforms for advanced traders.

But if you’re looking for a platform for OTC, and NFT investment, you would find VirgoCX more suitable.

VirgoCX vs Newton: Promotions

Both VirgoCX and Newton offer generous sign-up bonuses to WalletBliss readers. However, VirgoCX offers a $30 welcome bonus while Newton offers a $25 bonus. 

To get the VirgoCX $30 bonus, simply sign up using this referral link, verify your account and deposit at least $100.

For the Newton $25 bonus, all you need is to sign-up using our referral code “O7BY2M” or this referral link and deposit at least $100.

Besides these generous welcome offers, both platforms offer competitive referral bonuses upon inviting your friends and family to them. Learn more about their referral programs below:

VirgoCX vs Newton: Regulation & Security

Both VirgoCX and Newton are regulated as Money Service Businesses (MSBs) by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

In addition to advanced encryption, both platforms comply with the provisions of the Personal Information Protection and Electronic Documents Act (PIPEDA). This means that your personal information is safe on either platform.

As per your crypto coins, both platforms store them in institutional-grade storage. However, the VirgoCX custodian (Coinbase Custody) offers C$1 million in crime insurance coverage.

The bottom line is that you can’t make the wrong choice with either VirgoCX or Newton in terms of security because they’re both safe. 


VirgoCX vs Newton: Which to Choose?

Despite the above side-by-side comparison of VirgoCX vs Newton, you may still be wondering which to choose.

Frankly speaking, the two platforms share more similarities than differences. Besides having no minimum investment requirement, both platforms don’t have deposit fees, trading fees, and cash withdrawal fees.

Except you’re more concerned about their collections of coins, trading platform and support fiat currencies, you can’t go wrong with either VirgoCX or Newton.

As always, you want to first narrow your needs before signing up with any trading platform. But if you’re not satisfied with either of the platforms, consider other best crypto exchanges in Canada.


Verdict on VirgoCX vs Newton Comparison

That brings us to the end of this Newton vs VirgoCX comparison. Hopefully, now you can easily choose the one that suits your needs.

The interesting thing is that whether you’re signing up with VirgoCX or Newton, you can’t go wrong because both platforms offer competitive services. What is most important here is choosing the trading platform that meets all your requirements. 

Which of the two platforms are you going with? Kindly let me know where you’re going from here in the comment.

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Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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