How crypto trading fees, spreads and withdrawal costs work in Canada
Two crypto platforms can both say “low fees” and still cost very different amounts. The difference usually comes down to how the platform charges you. This guide explains the common ways, so you can read any platform’s fee page and work out what a trade would actually cost.
It is general information, not financial or investment advice, and we do not recommend that you buy, sell or hold any crypto asset.
A trading fee is charged on the order
Some platforms charge a percentage of each trade. A flat fee applies the same rate to every trade. A maker and taker model charges less if your order rests on the order book waiting to be matched (a maker order) and more if it is matched immediately against an existing order (a taker order). Maker and taker rates often fall as your trading volume over a recent period rises.
The fee is shown separately from the price, so you can see what you paid for the asset and what you paid to trade it.
A spread is built into the price
Other platforms advertise no commission and earn a spread instead: the price you pay to buy is a little above a reference price, and the price you receive to sell is a little below it. There is no separate line item, so the cost is easy to miss. To estimate it, compare the platform’s buy or sell price with a widely quoted market price at the same moment.
Some platforms publish a target range for their spread, and say it can widen when markets are volatile or liquidity is thin.
Costs around the trade
Deposit charges, Canadian-dollar withdrawal fees, network fees for sending crypto to another wallet, and subscriptions can all add to the total. For small or occasional trades, a flat withdrawal fee can outweigh a low trading fee, so add these up alongside the trading cost.
Your own bank may also charge for e-Transfers or wires, which no platform’s fee page includes.
A worked example
Suppose you buy $1,000 of Bitcoin. A platform charging a flat 0.20% costs $2.00 to trade. A platform whose quoted price includes a 1.00% fee costs $10.00. A platform with a spread of 0.5% to 2.0% costs between $5 and $20, and you would only learn which by comparing its price with the market’s.
Then add any deposit, withdrawal and network fees. The cheapest platform for a $1,000 purchase is not always the cheapest for a $50 purchase or a $50,000 one, because flat fees and volume tiers change the answer.
Where to find real figures
See our comparison of entry-level trading costs at platforms authorized in Canada, and our guide to Interac e-Transfer funding and CAD withdrawals. Both cite each platform’s own fee page and the date we checked it. To confirm that a platform is authorized in Canada, see our guide to the Canadian Securities Administrators’ list.
Risk warning
Crypto assets are volatile and can lose value quickly. Only use a platform that is authorized in Canada, and only risk money you can afford to lose. Nothing on SaveIQ is financial, investment, tax or legal advice.
How we research: see our Editorial Guidelines and Affiliate Disclosure. As an Amazon Associate, SaveIQ earns from qualifying purchases.