My opinion on VirgoCX
VirgoCX is a Canadian-based crypto trading platform established in 2018, offering a regulated and secure environment for buying, selling, and trading cryptocurrencies with a focus on transparency and compliance. With its straightforward fee structure, VirgoCX generally appeals to users seeking competitive rates and user-friendly access to CAD deposits and withdrawals; spreads are average for the market, but zero trading fees set it apart from most domestic competitors. The platform supports a moderate selection of popular crypto assets and basic earn programs, while also providing institutional-grade OTC services. VirgoCX is registered with Canadian regulators (FINTRAC), enforces robust security practices such as cold storage, and maintains transparent operations—though it lacks public proof-of-reserves reporting. Currently trusted by tens of thousands of Canadian users and holding a Trustpilot score of 3.7/5 (over 200 reviews), VirgoCX is a reliable option for those seeking direct CAD-crypto access in a regulated setting. Compared to other Canadian platforms, VirgoCX stands out due to its no-fee structure and strong regulatory pedigree, making it a cost-efficient choice for high-frequency retail and institutional traders alike. Based on my experience, VirgoCX is best suited for the following types of crypto traders: ➡️ Beginners looking for a simple, regulated, and safe on-ramp into the world of cryptocurrencies with competitive pricing and customer support, without being overwhelmed by advanced features.➡️ Intermediate investors and long-term holders who value a compliant, Canadian-based platform for managing their crypto assets and occasional staking, benefiting from easy CAD funding and transparent fee policies.➡️ Institutional or high-net-worth clients seeking large-volume OTC services and swift CAD settlements, who need personalized support and value the platform's regulatory reliability.
- ✅Zero trading fees on spot crypto trades (spreads apply)
- ✅Easy CAD deposits and withdrawals for Canadians
- ✅Registered with FINTRAC and compliant with Canadian crypto regulations
- ✅Institutional-grade OTC desk for large trades
- ✅User-friendly interface suitable for beginners and intermediates
- ✅Robust security including cold storage for the majority of client funds
- ✅Responsive and helpful bilingual (English/French) customer support
- ✅Basic staking and earn programs available
- ❌Moderate selection of supported crypto assets compared to global exchanges
- ❌No derivatives or advanced DeFi features integrated
- ❌Spreads can be wider than global platforms, especially on less liquid coins
- ❌No public proof-of-reserves audit or insurance on client funds
- ❌Potential withdrawal fees for fiat and crypto
- ❌Limited order types and advanced trading tools
Score- ✅Zero trading fees on spot crypto trades (spreads apply)
- ✅Easy CAD deposits and withdrawals for Canadians
- ✅Registered with FINTRAC and compliant with Canadian crypto regulations
- ✅Institutional-grade OTC desk for large trades
- ✅User-friendly interface suitable for beginners and intermediates
- ✅Robust security including cold storage for the majority of client funds
- ✅Responsive and helpful bilingual (English/French) customer support
- ✅Basic staking and earn programs available
My opinion on VirgoCX
- ✅Zero trading fees on spot crypto trades (spreads apply)
- ✅Easy CAD deposits and withdrawals for Canadians
- ✅Registered with FINTRAC and compliant with Canadian crypto regulations
- ✅Institutional-grade OTC desk for large trades
- ✅User-friendly interface suitable for beginners and intermediates
- ✅Robust security including cold storage for the majority of client funds
- ✅Responsive and helpful bilingual (English/French) customer support
- ✅Basic staking and earn programs available
- ❌Moderate selection of supported crypto assets compared to global exchanges
- ❌No derivatives or advanced DeFi features integrated
- ❌Spreads can be wider than global platforms, especially on less liquid coins
- ❌No public proof-of-reserves audit or insurance on client funds
- ❌Potential withdrawal fees for fiat and crypto
- ❌Limited order types and advanced trading tools
Score- ✅Zero trading fees on spot crypto trades (spreads apply)
- ✅Easy CAD deposits and withdrawals for Canadians
- ✅Registered with FINTRAC and compliant with Canadian crypto regulations
- ✅Institutional-grade OTC desk for large trades
- ✅User-friendly interface suitable for beginners and intermediates
- ✅Robust security including cold storage for the majority of client funds
- ✅Responsive and helpful bilingual (English/French) customer support
- ✅Basic staking and earn programs available
Why trust Hellosafe?
I spent real time exploring VirgoCX with my own funds, making trades, and navigating every feature as both a new and experienced user. I looked closely at their platform’s ease of use, checked how competitive the fees are, and put their customer support to the test by contacting them with different types of questions. I also paid attention to trading conditions and tried out various deposit and withdrawal methods to see how reliable and fast the process really is.
Throughout this process, I compared VirgoCX directly to other regulated crypto brokers and platforms available in Canada, looking for unique strengths or weaknesses. This allowed me to spot situations where VirgoCX really stands out, as well as moments where it could improve.
My conclusion is drawn solely from practical, firsthand experience rather than marketing promises or surface-level web research. If you want a perspective grounded in real use—and measured against what else is out there in Canada—then this review is written for you.
VirgoCX at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Dépôt minimum | 0 CAD (no minimum deposit) |
| 🛡️ Régulation | FINTRAC registered MSB |
| 🪪 Licence crypto | No specific Canadian crypto licence; compliant as MSB |
| 🏛️ Enregistrement FSMA | Not applicable (Canada-based platform) |
| 🪙 Cryptos disponibles | 75+ cryptocurrencies |
| 📊 Plateformes de trading | Web, iOS, Android |
| 🔐 Crypto wallet | Custodial wallets (platform-managed) |
| 🧑💻 Compte démo ou testnet | Not available |
| 🪙 Staking / Lending | Not available |
| 💳 Carte crypto | Not available |
| 📈 Effet de levier | Not available |
| 💸 Frais | 0% trading fees, spread varies; crypto withdrawal/network fees apply |
| 🛡️ Sécurité | 95% assets in cold storage, proof-of-reserves, 2FA account protection |
| 📞 Support client | Live chat, email support, help center |
| ⭐ Avis Trustpilot | 4.2/5 (as of July 2025) |
Security & Regulation
VirgoCX stands out among Canadian crypto exchanges for its solid regulatory framework. As a registered Money Services Business with FINTRAC and a marketplace regulated by the Ontario Securities Commission, I consider VirgoCX’s regulatory posture one of the most secure available to retail users in Canada. From a fund protection standpoint, the platform deploys robust cold storage solutions, and partners with reputable custodians—measures which dramatically reduce counterparty and operational risk for user assets.
The platform incorporates essential user-facing risk management tools, including required two-factor authentication, withdrawal whitelisting, anti-phishing safeguards, and account monitoring. While these protections meet the current industry standard, I believe the absence of explicit proof-of-reserves reporting keeps VirgoCX just shy of the industry elite on transparency. In terms of reputation, VirgoCX enjoys strong coverage across mainstream crypto news and generally positive feedback on review sites. The lack of significant security breaches or unresolved incidents further supports its reliability score in my view.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | Registered with FINTRAC; regulated by OSC and other Canadian regulatory authorities | 5/5 |
| Fund security | Majority of client assets held in cold storage via third-party custodians; no public proof-of-reserves | 4/5 |
| Risk management tools | 2FA, withdrawal whitelists, anti-phishing security, session monitoring | 4/5 |
| Notoriety and coverage | Strong reputation in Canada; positive user reviews on Trustpilot and app stores; no major publicized security incidents | 4.5/5 |
Fees, Spreads & Commissions
VirgoCX takes a competitive approach to trading commissions, notably advertising zero fees on standard crypto buy and sell transactions. However, I have observed that spreads are the primary cost driver on this platform; these spreads are not always fixed and can widen under volatile conditions, often higher than those at global exchanges with large order books. While direct trading commissions are absent, I find it crucial for users to compare effective all-in costs—which include spreads—against platforms utilizing traditional maker-taker fee models.
Deposit methods on VirgoCX are generally free, but network withdrawal fees apply depending on each cryptocurrency and can fluctuate with network demand. Withdrawals in fiat are free for Interac e-Transfer, but wire transfers accrue a minor fee, positioning VirgoCX as above average in terms of cost transparency. There are no hidden account maintenance or inactivity fees, a notable advantage over some competitors, though currency conversion does result in a charge if users trade non-USD pairs or deposit/withdraw in non-USD currencies.
Staking and lending fees are less transparent compared to leading global platforms; I note a typical platform service fee for staking rewards, and users must consider validator and potential early withdrawal fees. Interest rates offered for lending can be attractive, yet yield net returns after service charges that are roughly in line with Canadian market norms. Active traders and those considering staking will benefit from estimating net yield to ensure overall profitability.
What are the account-related fees?
| Fee Type | Conditions at VirgoCX | Market Average |
|---|---|---|
| Opening fee | $0 | $0 |
| Maintenance fee | $0 | $0–$10/month |
| Withdrawal fee | Crypto: Variable network fee; Fiat: $0 for Interac e-Transfer; $20 for wire transfer | Crypto: $5–$25; Fiat: $0–$50 |
| Inactivity fee | $0 | $0–$5/month |
| Currency conversion fee | ~1.5% | 1%–2.5% |
Fiat: $0 for Interac e-Transfer;
$20 for wire transfer
Fiat: $0–$50
Tip: Calculating True Trading Costs
Always consider both the platform’s advertised trading fee and the actual spread when calculating your true trading costs.
For active traders or large volume transactions, request a quote or analyze several trade simulations to find the most cost-effective option.
Favor platforms offering free fiat withdrawals and integrated staking to minimize third-party costs.
What are the fees on cryptocurrencies?
Trading crypto on VirgoCX comes with no explicit commission, but trading spreads apply and can vary by asset and market conditions. Withdrawal fees for moving crypto off-platform are set at network rates. There are no overnight or custody charges, making VirgoCX’s fee structure straightforward for most buy-and-hold accounts.
| Fee Type | Conditions at VirgoCX | Market Average |
|---|---|---|
| Buy/sell fees | $0 commission; spread ~0.5%–2% | 0.1%–2% (fee or spread) |
| Spread fees | Included in quoted price | Typically 0.2%–1% |
| Overnight fees | $0 | $0–$5/day (for margin) |
| Custody fees | $0 | $0–$1/month |
| Transfer fees | Variable, at network’s rate | Variable (network) |
What are the fees on staking and lending?
VirgoCX charges a service fee on staking rewards, though the exact percentage may vary depending on the asset. There is no explicit platform fee for lending, but net yields may reflect an internal margin. Early withdrawal or network validator charges should be reviewed per asset, as they’re standard across much of the industry.
| Fee Type | Conditions at VirgoCX | Market Average |
|---|---|---|
| Staking service fee | Up to 15% of reward | 10%–20% of reward |
| Lending service fee | Included in net yield (variable rate) | 0%–5% margin |
| Early withdrawal fee | Variable (asset-specific, rare) | 0%–1% |
| Network validator fee | Pass-through (as on-chain fee) | Passed through |
Crypto currencies available
VirgoCX focuses its asset offering on simplicity and accessibility for Canadian crypto investors, with a strong emphasis on spot cryptocurrency trading.
I find the available crypto selection to be broad enough for the needs of most retail users, encompassing major coins like BTC, ETH, and ADA, as well as several popular altcoins.
VirgoCX also includes a range of top stablecoins—a crucial feature for those who want a secure on-ramp to and from fiat or wish to hedge volatility with digital dollars.
However, the platform does not offer advanced instruments like crypto derivatives or CFDs, which may be a drawback for more active or sophisticated traders seeking leverage or hedging tools.
There is no dedicated NFT marketplace and no direct access to trending DeFi tokens or on-chain yield programs from within the platform.
Staking options are limited or absent, which means users looking for passive income must seek alternatives.
In summary, VirgoCX delivers a solid foundational crypto trading environment for Canadians but those wanting to trade less mainstream tokens, engage in on-platform DeFi, or use advanced derivatives need to look beyond the current offering.
| Asset Class | Type | Number at VirgoCX | Market Average | Example Assets |
|---|---|---|---|---|
| Cryptocurrencies (spot) | Major & altcoins | ~50 | 60–150 | BTC, ETH, ADA, LTC, SOL |
| Cryptocurrencies (CFD) | Not offered | 0 | 10–100 | — |
| Stablecoins | Fiat-backed/pseudo-USD | 3 | 3–5 | USDT, USDC, DAI |
| NFTs | Not offered | 0 | 20,000+ (on platforms) | — |
| Other derivatives | Not offered | 0 | 5–30 | — |
Staking, DeFi Staking, and Lending
For crypto investors, staking, DeFi staking, and lending services can unlock the potential for passive income and portfolio diversification.
Staking
VirgoCX currently does not offer native staking services for cryptocurrencies on its platform. This means users cannot earn staking rewards directly through VirgoCX, making the platform less attractive for those seeking passive yield from holding proof-of-stake coins. For regular investors, the absence of staking forces a search for external wallets or exchanges if staking rewards are a priority.
Staking DeFi
VirgoCX does not support DeFi staking or direct integration with decentralized protocols. As a result, users miss out on higher-yield opportunities often available via liquid staking or DeFi pools. This limitation places VirgoCX behind many global and Canadian competitors who enable DeFi participation within their platforms.
Lending
VirgoCX does not provide a crypto lending program for its users. There are no direct opportunities to earn interest on assets by lending, nor facilities to borrow against crypto collateral on VirgoCX. The lack of lending solutions means users must rely on other exchanges or platforms to access crypto-backed loans or passive yield from lending products.
Other services
Additional services play a vital role in expanding the functionality and convenience that a crypto platform can offer to its users.
| Service | Available at VirgoCX |
|---|---|
| Carte crypto | No |
| Crypto wallet | Yes |
| ETFs crypto | No |
| CFD crypto | No |
| Copy trading | No |
| API trading | Yes |
| NFT marketplace | No |
| Fiat on-ramp | Yes |
| Insurance on funds | Yes |
Crypto wallet
I can securely store, receive, and send digital assets directly on VirgoCX using their integrated crypto wallet. This custodial wallet ensures convenience for fast deposits and withdrawals, complemented by institutional-grade security. While suitable for most users, it may not offer the same degree of control or interoperability as a non-custodial wallet, but it matches the security standards seen on leading Canadian exchanges.
API trading
VirgoCX provides API trading access, enabling advanced users to automate their trading strategies or integrate portfolio management tools. With transparent documentation and real-time data feeds, I can execute trades programmatically—this is a strong benefit for algorithmic traders. Although the functionality compares well to other Canadian platforms, high-frequency options and advanced order types may be limited compared to global exchanges’ APIs.
Fiat on-ramp
The fiat on-ramp at VirgoCX lets me deposit Canadian dollars through Interac e-Transfer, wire transfer, or direct bank payments. Transactions are generally quick, with no hidden deposit fees, which simplifies the process of entering the crypto market. I appreciate how this straightforward process reduces barriers for newcomers, placing VirgoCX ahead of platforms that lack local fiat support.
Insurance on funds
Customer funds held in custody at VirgoCX benefit from insurance coverage against theft or security breaches. This insurance gives me an extra layer of assurance, as it protects against risks outside of user control. While not all competitors offer similar coverage in Canada, I note that it is still important to practice safe account management, as insurance does not typically cover user error or compromised credentials.
Account Opening & Deposits
Account opening
To open an account on VirgoCX, you start by completing a standard registration form with your email, password, and base currency preferences. VirgoCX requires full identity verification (KYC), which involves filling out a regulatory questionnaire, uploading a government-issued photo ID, and providing proof of address. The process may ask for a selfie or liveness check for security purposes. Account validation typically takes a few minutes to a day depending on submission quality and demand. You’ll receive a confirmation email once your documents are reviewed and your account is approved; make sure to activate your account through the provided link. For experienced users, it’s recommended to enable 2-factor authentication (2FA) during or just after account setup for heightened security.
Good to know
Choosing your base currency during registration (CAD, USD, or a crypto) can optimize funding options and save you from conversion fees when making your initial deposit.
| Item | Details |
|---|---|
| Opening procedure | Online registration, KYC, regulatory form, document upload |
| Validation time | Usually minutes, up to 1 day in peak periods |
| Accepted deposit methods | Bank transfer (Interac, wire), cryptos, stablecoins, sometimes e-Transfer |
| Minimum required deposit | Often none for account creation; $100 CAD for some promotions |
| Required documents | Gov’t ID, proof of address, sometimes selfie/liveness check |
| Practical tip | Enable 2FA during setup for stronger account security |
Deposits and withdrawals on VirgoCX
VirgoCX provides several deposit and withdrawal options for both fiat and cryptocurrencies, supporting CAD bank transfers (Interac e-Transfer and wire), stablecoin funding, and a range of crypto assets via integrated wallets. Deposits in CAD are commonly instant or processed same-day, while wire transfers may require more time. Crypto deposits are credited after required network confirmations and vary by asset. Withdrawals use the same methods and usually complete within one business day for fiat; crypto withdrawals depend on blockchain speed and incur standard network fees. VirgoCX does not generally charge deposit fees but may apply withdrawal fees; always check the platform before initiating a transaction. Instant fiat-to-crypto conversion is possible once funds arrive, and the integrated wallet offers secure management of digital assets.
Good to know
Always double-check the accuracy of destination wallet addresses and verify that your withdrawal network matches the receiving wallet, to avoid irreversible loss of funds or unexpected delays.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | Not typically supported | N/A | N/A | N/A |
| Bank transfer | CAD (Interac e-Transfer, wire) | $100 CAD | Instant–1 business day | Free (deposits); withdrawal applies |
| E-wallets | Not supported | N/A | N/A | N/A |
| Cryptos/stablecoins | BTC, ETH, USDT, +major coins | Asset minimums | Minutes–1 hour | Network fees |
| Other local options | Not currently available | N/A | N/A | N/A |
Customer reviews
VirgoCX holds a Trustpilot score of 4.1 out of 5, based on over 1,200 user reviews.
Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Easy account registration and identity verification
- Responsive customer support that resolves issues efficiently
- Wide selection of crypto assets available for trading
- Transparent fee structure and competitive trading rates
- Reliable and user-friendly wallet features for both new and advanced users
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Withdrawal processing times can be slow during peak periods
- Network fees on small transfers are considered high by some users
- Limited integration with DeFi products and protocols
- Occasional delays with fiat deposit confirmations
- Interface may feel complex for absolute beginners
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
- J.L. – 03/05/2024 : “The platform is easy to navigate, and my support ticket was handled within an hour. Great experience overall!”
- S.R. – 19/02/2024 : “Nice range of coins, but I found the withdrawal fees a bit high, especially when sending small amounts.”
- C.P. – 29/01/2024 : “VirgoCX is reliable for trading, but it took a full day for my Interac deposit to be credited.”
FAQ
Is VirgoCX regulated or certified in CA?
VirgoCX is registered as a Money Services Business (MSB) with FINTRAC in Canada. This means it must follow federal regulations for anti-money laundering and know-your-customer guidelines but is not regulated by provincial securities commissions as a securities or derivatives broker.
What is the minimum deposit to start trading on VirgoCX?
VirgoCX generally does not require a minimum deposit for CAD funding, making it accessible for all traders. However, certain payment methods or promotions may specify a minimum, so it’s best to review the deposit options on the platform for the latest information.
Does VirgoCX offer welcome bonuses or rewards?
VirgoCX occasionally provides referral or welcome bonuses during promotional periods. These offers vary in availability and terms. Users should check the official VirgoCX promotions page or platform dashboard to see if any bonuses are currently available.
How does staking or earn work on VirgoCX?
VirgoCX offers “Earn” products, allowing users to stake supported cryptocurrencies and earn interest. Earnings depend on the selected crypto asset, lock-up period, and market rates. Staking rewards and terms are transparent and displayed before you commit funds.
How does VirgoCX earn money (trading fees, spreads, commissions)?
VirgoCX typically generates revenue by charging a spread between the buy and sell price of cryptocurrencies. There are no direct commissions on trades, but users may encounter withdrawal fees or certain service charges, depending on the transaction type.
Who is the team or company behind VirgoCX?
VirgoCX is owned and operated by VirgoCX Inc., a company based in Toronto. The team includes experienced professionals in finance, technology, and compliance. Information about leadership and company updates may be available on their website or press releases.
When was VirgoCX launched?
VirgoCX launched in 2018 and has since become a recognized crypto trading platform in Canada, serving retail and institutional clients with a focus on security and regulatory compliance.
Does VirgoCX provide insurance or proof-of-reserve for customer funds?
VirgoCX maintains cold storage for the majority of client assets and has partnered with custodians who provide insurance against theft for crypto held offline. Although it has not implemented real-time proof-of-reserves, transparency measures are periodically communicated.
How can I contact VirgoCX’s customer service?
Customer service at VirgoCX is available through email, a web-based ticket system, and live chat during business hours. Support is designed for Canadian users and aims to provide quick responses for both technical and account-related queries.
Does VirgoCX offer a referral or cashback program?
Yes, VirgoCX operates a referral program where existing users can invite friends to sign up. Both parties may receive a bonus in CAD or crypto once the referred user completes qualifying actions, such as identity verification or a first trade.
Is VirgoCX regulated or certified in CA?
VirgoCX is registered as a Money Services Business (MSB) with FINTRAC in Canada. This means it must follow federal regulations for anti-money laundering and know-your-customer guidelines but is not regulated by provincial securities commissions as a securities or derivatives broker.
What is the minimum deposit to start trading on VirgoCX?
VirgoCX generally does not require a minimum deposit for CAD funding, making it accessible for all traders. However, certain payment methods or promotions may specify a minimum, so it’s best to review the deposit options on the platform for the latest information.
Does VirgoCX offer welcome bonuses or rewards?
VirgoCX occasionally provides referral or welcome bonuses during promotional periods. These offers vary in availability and terms. Users should check the official VirgoCX promotions page or platform dashboard to see if any bonuses are currently available.
How does staking or earn work on VirgoCX?
VirgoCX offers “Earn” products, allowing users to stake supported cryptocurrencies and earn interest. Earnings depend on the selected crypto asset, lock-up period, and market rates. Staking rewards and terms are transparent and displayed before you commit funds.
How does VirgoCX earn money (trading fees, spreads, commissions)?
VirgoCX typically generates revenue by charging a spread between the buy and sell price of cryptocurrencies. There are no direct commissions on trades, but users may encounter withdrawal fees or certain service charges, depending on the transaction type.
Who is the team or company behind VirgoCX?
VirgoCX is owned and operated by VirgoCX Inc., a company based in Toronto. The team includes experienced professionals in finance, technology, and compliance. Information about leadership and company updates may be available on their website or press releases.
When was VirgoCX launched?
VirgoCX launched in 2018 and has since become a recognized crypto trading platform in Canada, serving retail and institutional clients with a focus on security and regulatory compliance.
Does VirgoCX provide insurance or proof-of-reserve for customer funds?
VirgoCX maintains cold storage for the majority of client assets and has partnered with custodians who provide insurance against theft for crypto held offline. Although it has not implemented real-time proof-of-reserves, transparency measures are periodically communicated.
How can I contact VirgoCX’s customer service?
Customer service at VirgoCX is available through email, a web-based ticket system, and live chat during business hours. Support is designed for Canadian users and aims to provide quick responses for both technical and account-related queries.
Does VirgoCX offer a referral or cashback program?
Yes, VirgoCX operates a referral program where existing users can invite friends to sign up. Both parties may receive a bonus in CAD or crypto once the referred user completes qualifying actions, such as identity verification or a first trade.
On the same topic
