⚡ Bitbuy in a nutshell
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Canada's first CIRO-registered crypto platform. Bitbuy was Canada's first crypto exchange to register with IIROC (now CIRO — Canadian Investment Regulatory Organization), the same regulator overseeing Canadian stock brokers. The highest level of crypto regulation available in Canada.
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Part of WonderFi Technologies (TSX: WNDR). WonderFi, Bitbuy's parent, is TSX-listed — providing public financial accountability and quarterly reporting that private crypto exchanges cannot match.
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40+ cryptocurrencies — institutional custody. Qualified custody through institutional-grade custodians. Bitbuy emphasises institutional-quality security standards.
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0.20% trading fee — not the lowest in Canada. Bitbuy charges 0.20% taker fee, 0.10% maker fee — higher than Newton's spread-equivalent cost for small traders, but competitive for institutional/larger trades.
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Pro Exchange available — for active crypto traders. Bitbuy's Pro Exchange offers limit orders, order book trading and lower fees (0.10%/0.20% maker/taker) — for crypto traders who want more control than a simple buy/sell interface.
⚠️ What to watch out for
- ⚠ 0.20% trading fee (standard interface) — Newton may be cheaper for smaller trades
- ⚠ Fewer assets (40+) than Newton (70+) or international exchanges
- ⚠ Crypto is not CDIC or CIPF insured despite highest Canadian regulatory standards
- ⚠ Less volume and liquidity than Coinbase or Binance for altcoins
- ⚠ CAD-only — no USD account
WhichBrokr Category Ratings
Overview
Bitbuy was founded in 2016 in Toronto and is operated by First Ledger Corp. (DBA Bitbuy). In 2022, Bitbuy became Canada's first crypto exchange to register with IIROC (now CIRO), the Investment Industry Regulatory Organization of Canada — the same regulator overseeing investment dealers. Bitbuy is also registered with FINTRAC and the OSC. In 2022 it was acquired by WonderFi Technologies (TSX: WNDR), a public company.
Bitbuy's core positioning is regulatory leadership: it holds more Canadian regulatory registrations than any other crypto exchange and is the only one supervised by CIRO. This matters for institutional investors, self-directed RRSP/TFSA holders who want to know the platform is subject to the same standards as their stock broker, and retail investors who prioritise regulatory assurance.
The platform offers a simple Express Trade interface (fixed spread, market orders) and a Pro Exchange (order book trading, limit orders, lower fees). 40+ assets is narrower than Newton's 70+ but covers all major coins. Bitbuy's security model emphasises institutional custody and third-party insurance.
Pros & Cons
✅ Pros
- CIRO registered — highest level of crypto regulation in Canada
- TSX-listed parent (WonderFi: WNDR) — public financial accountability
- Institutional-grade custody and security
- Pro Exchange for active traders — limit orders, order book, lower fees
- FINTRAC and OSC compliant
- Founded 2016 — 10 years of Canadian crypto operation
- Third-party security audits and insurance
❌ Cons
- 0.20% trading fee on standard interface — higher than Newton's spread for small trades
- Fewer assets (40+) vs. Newton (70+)
- Crypto is not CDIC/CIPF insured despite regulatory status
- Lower liquidity/volume than Coinbase or Kraken on altcoins
- CAD-only platform — no USD accounts
- Less intuitive interface vs. Newton for beginners
🔍 Broker Audit Report
A structured assessment across 5 pillars — regulation, tax/legal, costs, features and platform accessibility. Updated July 2026.
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1. Legal Entity & Capital Protection
Bitbuy's exceptional Canadian regulatory profile
Entity
First Ledger Corp. (DBA Bitbuy) — CIRO registered investment dealer, FINTRAC MSB, OSC registered. Parent: WonderFi Technologies (TSX: WNDR).
Regulatory Status
CIRO registered — Investment Industry Regulatory Organization of Canada. The same regulator as stock brokers. First Canadian crypto exchange to achieve this.
Crypto Insurance
❌ Not CDIC or CIPF insured. Third-party crypto asset insurance through Bitbuy — contact for details. No government insurance scheme for crypto in Canada.
Financial Transparency
TSX: WNDR — quarterly financial reporting by parent WonderFi Technologies.
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2. Tax Notes
Canadian crypto tax treatment
Crypto Tax
Cryptocurrency gains taxable at 50% capital gains inclusion rate. Crypto-to-crypto trades are taxable events in Canada.
Tax Reporting
Annual transaction history export for CRA filing. Bitbuy provides detailed trade records.
No TFSA/RRSP
Crypto cannot be held in registered accounts via Bitbuy — regulatory classification does not yet permit this.
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3. Total Cost of Ownership
Bitbuy fee structure
Express Trade Fee
Spread-based — approximately 0.50% per side (similar to Newton) for simple buy/sell.
Pro Exchange Maker/Taker
0.10% maker / 0.20% taker — lower than standard exchange but not the cheapest globally.
CAD Deposits
Interac e-Transfer: $0. Bank wire: $0. Instant Buy with credit/debit: ~2.5%.
Withdrawals
CAD EFT: $0. Crypto network fee: standard network gas.
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4. Asset Catalogue
40+ major cryptocurrencies
Total coins
40+ — major assets, fewer altcoins than Newton
Stablecoins
USDC, USDT available
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5. Platform
Express Trade and Pro Exchange
Mobile App
✅ iOS 4.1★ / Android 4.0★
Web Platform
✅ Express Trade (simple) + Pro Exchange (advanced)
Pro Exchange
✅ Order book, limit orders, 0.10%/0.20% maker/taker fees
Advanced Charts
⚠ Available on Pro Exchange — basic
Customer Support
Email and chat — rated average
Fees 3.8 / 5
Bitbuy is more expensive than Newton for small simple trades. The Pro Exchange (0.20% taker) is competitive for larger active traders. The CIRO registration is the primary value proposition.
| Fee type | Bitbuy | Market Average |
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| Simple trade (spread) | ~0.5% each way | 0.5–1.5% |
| Pro Exchange taker | 0.20% | 0.10–0.30% |
| Pro Exchange maker | 0.10% | 0.05–0.15% |
| CAD deposit (Interac) | $0 | $0 |
| Assets available | 40+ | 40–300+ |
Safety & Regulation 4.2 / 5
| Regulatory status | CIRO registered, FINTRAC, OSC |
| Parent listed | TSX: WNDR (WonderFi) |
| Crypto insurance | Third-party — limited government coverage |
| Founded | 2016 (10 years) |
| Country | Canada only |
| Custody | Institutional-grade cold storage |
Products & Asset Catalogue 3.1 / 5
| BTC/ETH/major coins | ✅ |
| Altcoins | 40+ (fewer than Newton) |
| Stablecoins | ✅ USDC, USDT |
| Staking | ❌ |
| DeFi | ❌ |
What investors say about Bitbuy
Community voice — strengths & concerns
Most praised
- CIRO registration praised by compliance-focused investors — "most regulated crypto in Canada"
- TSX parent (WonderFi) provides unique financial transparency for a crypto exchange
- Pro Exchange appreciated by active traders wanting limit orders
- Canadian heritage and focus praised
Common complaints
- Fewer assets than Newton
- Fees higher than Newton for small trades
- Customer support rated average
- Less known brand recognition than Coinbase or Kraken for international comparison
Based on user reviews on Trustpilot, Reddit, App Store and Google Play ratings. Data collected Jan–Jun 2026.
Verdict
WhichBrokr's Take
Bitbuy's primary value proposition is regulatory leadership: CIRO registration, TSX-listed parent, institutional custody. For Canadian investors who want the most regulated crypto platform available in the country — and are willing to trade slightly higher fees and fewer assets for it — Bitbuy is the choice.
For pure cost and asset selection, Newton is typically more competitive. For active trading features, Kraken or Coinbase offer deeper tools at global scale. Bitbuy occupies the unique niche of most comprehensively regulated Canadian crypto exchange.
Best for: Canadian investors who prioritise regulatory assurance above all else for crypto, compliance-minded institutional Canadian investors, and Pro Exchange traders wanting limit orders in a Canadian-regulated environment. Not ideal for: Cost-sensitive small traders (Newton cheaper), altcoin enthusiasts (fewer coins), or DeFi/staking users.
Frequently Asked Questions
| Is Bitbuy safe? | Bitbuy is Canada's most regulated crypto exchange — CIRO registered (same regulator as stock brokers), FINTRAC MSB, OSC registered, parent TSX-listed (WNDR). Crypto is not CDIC/CIPF insured but Bitbuy uses institutional-grade custody. |
| What is CIRO registration for a crypto exchange? | CIRO (Canadian Investment Regulatory Organization, formerly IIROC) is the regulator overseeing investment dealers (stock brokers) in Canada. Bitbuy is the first and one of the only crypto exchanges to register with CIRO — holding it to the same standards as a licensed investment dealer. |
| What are Bitbuy's trading fees? | Express Trade (simple interface): spread of ~0.5% each way. Pro Exchange: 0.10% maker, 0.20% taker. CAD deposits via Interac: free. |
| How many cryptocurrencies does Bitbuy offer? | 40+ — major coins including BTC, ETH, SOL and many altcoins. Fewer than Newton (70+) but covers the most traded Canadian crypto assets. |
Ready to open a Bitbuy account?
CIRO registered crypto · 40+ assets · 0.20% trading fee · CAD deposits · TSX parent
Open Bitbuy Account →
Crypto assets are highly volatile and not covered by CDIC or CIPF. Capital at risk.