NDAX exchange profile: services, fees, custody and eligibility

NDAX is a Canadian custodial crypto exchange built around a central order book. It matches customers with other users and with NDAX itself. The relationship is execution-only, without investment advice or margin lending.[2]

The company says it began in 2018 and currently advertises more than 65 assets. Its website displays $21 billion of traded volume without identifying the currency or measurement period. That figure is an operator claim, not a comparable daily-volume ranking or a count of active customers.[1]

Where NDAX assigns an OTC representative, the representative supplies a quotation through an individually agreed secure channel and the customer confirms through that channel. Eligibility remains discretionary. The presence of a public support telephone number does not establish an emergency telephone-dealing service.[3]

The API documents GTC as the default time-in-force and also lists IOC, FOK and GTD, among other values. These are API parameters, not a promise that every app screen exposes every setting. Its cancellation calls and order-status queries are separate operations: check the resulting status before assuming an open order has stopped.[23]

Recurring purchases use a CAD amount, selected asset and daily, weekly or monthly schedule. The website’s subscription controls allow the instruction to be stopped, edited or deleted. A recurring purchase is an ongoing account instruction; stopping it does not reverse purchases already completed.[32]

NDAX publishes one 0.20% rate for platform buys and sells, without maker/taker or volume tiers. For a C$2,500 transaction value, the fee equals C$5. A later sale is a separate charged transaction; price movement and the bid/ask spread remain additional components of the outcome.[7]

The fee is taken in the asset received. NDAX also discloses passive liquidity provision, with prices based on external liquidity and a spread that provides additional compensation.[2]

The public tariff does not list an inactivity charge. That is a statement about the reviewed schedule, not a promise that an account cannot be restricted or closed.[7]

Funding requires a verified account with two-factor authentication. Send bank funds from an account in the same name and use the personal reference supplied by NDAX. Funding limits imposed by a bank can apply independently of the exchange’s published allowances.[8]

For wires, upload the bank receipt and include the NDAX message code. The bank’s own transfer or intermediary charges can reduce the amount received. Foreign-bank wires can be rejected, and bank recall expenses are not refunded by NDAX. USD funding is therefore a conversion route into the CAD account rather than an independent USD trading balance.[9]

For an Interac payout, sell enough crypto into CAD first, complete two-factor and email approval, then use the bank’s receiving procedure. The C$1.50 fee is deducted from the withdrawal amount. The rolling allowance resets by elapsed time, not at midnight, so splitting a large request does not bypass the daily cap.[10]

A recent security reset is a review trigger, not a published guarantee of a fixed 72-hour lock. Network maintenance, an invalid address or a missing destination tag can also prevent completion. Confirm both the withdrawal status and transaction identifier before treating a transfer as settled.[11]

NDAX can restrict external-wallet transfers temporarily or permanently after its account-appropriateness review, including for a period after opening.[2]

NDAX says at least 80% of client crypto is held with independent custodians in segregated omnibus accounts for clients. The remainder supports operational wallets and permitted staking. Its security page describes monthly reconciliation, multiple approval controls and restrictions on using client assets except for authorised staking. Omnibus custody pools clients at the custodian while the exchange maintains the individual entitlements.[6]

The September 2026 custody statement names Coinbase Custody Trust Company, LLC and BitGo Trust Company, Inc. It describes fiat money as segregated in trust at Alberta Treasury Branch or a Canadian chartered bank, with NDAX authorised to settle trades and collect fees.[5]

The custody statement expressly leaves uncertainty about Canadian insolvency treatment of crypto. Segregation and insurance therefore should not be read as a guaranteed return of every asset if the operator fails.[5]

Lost two-factor access requires an email code, a Sumsub identity-video check and staff review. After approval, the recovery link and phone verification lead back to account access. The guide requires logging in and enabling 2FA again within 20 minutes, otherwise the account locks again. It does not promise a fixed manual-review completion time.[12]

NDAX reported that its verification vendor detected a limited personal-information incident on 22 January 2026 and notified NDAX on 2 February. The company said it had no indication its own systems were compromised and excluded passwords, 2FA codes, ID images and banking details from the affected data. Its notice also describes extra risk-based withdrawal checks. These are the operator’s incident findings, not an independent assurance of all account activity.[13]

Ordinary access is for Canadian residents and Canadian legal entities. Individuals must have reached the age of majority in their province or territory. The agreement permits discretion in exceptional cases; that does not establish generally available international onboarding.[3]

Trading, deposits and withdrawals require verification using personal information, a government identity document and a selfie. An initial signup alone does not establish permission to fund or trade.[14]

Corporate applications begin with a support request and require Canadian business-registration or incorporation documents. Owners undergo identification; a corporate resolution or additional shareholder checks may be requested. Review time depends on the application. Use the approved corporate account and corresponding bank details rather than funding a personal account on a business’s behalf.[15]

NDAX assesses account appropriateness and sets a loss-notification threshold. Reaching that threshold prompts notification; it is not an automatic stop-loss or a promise to liquidate the account.[2]

The contact page separately lists telephone help at 1-833-727-6329 from 10am to 4pm EST, Monday to Friday. These are published staff hours, and contacting support does not itself place, cancel or guarantee a trade. Retain order IDs and error details when requesting help with an execution problem.[16]

Formal complaints should identify the account, event, dates and requested outcome. NDAX’s policy provides for acknowledgement within five business days and a substantive response normally within 90 calendar days. If delayed, it gives reasons and an estimated completion time. Unresolved cases can be taken to CIRO or the Ombudsman for Banking Services and Investments; the policy specifies an OBSI referral within six months of the final response. Legal and arbitration routes are also described.[17]

In the account, use Reports to create transaction histories with the required report type, date range and available format. Monthly and quarterly statements are separately downloadable from Statements. Preserve these records before closing the account, particularly where transfers to another wallet will need to be reconciled with later disposals.[25]

CIRO’s official bulletin confirms that NDAX Canada Inc. became an Investment Dealer Member on 19 December 2024. It also records conditional relief relating to insurance and acceptable custody locations. That supervision concerns the firm’s regulated activities and conditions; it does not certify the value or suitability of every listed token.[4]

The relationship disclosure describes Canadian alternative-trading-system and marketplace permissions, with jurisdiction-specific relief. This profile concerns that Canadian entity and service.[2]

The platform is operated by Ndax Canada Inc., based in Calgary. Its site describes the business as Canadian-owned and operated.[1]

Customers who wish to leave can close a zero-balance account through Settings. Sell or withdraw remaining crypto and withdraw CAD first. Even a small residual balance can require support assistance. Closure is an explicit account process, separate from merely ceasing to trade.[34]

Operator

Ndax Canada Inc.

Exchange model

Centralised

Service scope

Canadian order-book trading, OTC delivery or custody, and separate staking programmes.

Client types

Retail clients; Institutional clients

Pricing publication

Public and quoted pricing

Pricing scope

Flat 0.20% platform commission; OTC quotes and route-specific transfers.

Funding scope

CAD banking, Canadian-bank USD conversion and supported crypto transfers.

Custody and asset handling

Segregated omnibus custody and operational wallets; separate disclosed insurance limits.

Client eligibility

Canadian residents of provincial or territorial majority age; verified Canadian businesses.

Support

Published email, chat and telephone hours; formal complaint and OBSI escalation.

Authorisation and registration scope

CIRO Investment Dealer membership confirmed in the official admission bulletin; jurisdiction-specific marketplace permissions described by the operator.

Exchange metadata checked 20 Oct 2026Source 1Source 2Source 3Source 4Source 5Source 7Source 8

Standard staking pays rewards in the staked asset after any bonding period, with daily or weekly distribution depending on the coin. Rates are shown before the 20% reward fee and can change. Standard redemption continues scheduled rewards through unbonding; instant redemption forfeits rewards for the payout period in which unstaking occurs. Auto-restaking is an additional asset-level choice.[33]

Auto Earn is a separate opt-in arrangement. Eligible balances are swept into participation at 07:00 UTC daily, including newly available balances. A released asset can be re-enrolled at the next sweep unless a release is still pending or the programme is disabled. Redemptions depend on available liquidity; queued requests follow first-in, first-out processing and may await network unbonding. The programme does not promise that the whole enrolled balance is continuously staked on-chain.[30]

Auto Earn pays weekly on Monday at 00:00 UTC. Amounts queued for release stop earning, while rewards already earned before disabling are paid at the normal weekly time. A reward payment can itself join the next daily sweep. Review both the release status and programme switch when trying to leave the product.[31]

The current programme guide requires a new referred customer to verify within 30 days and deposit at least C$100. It describes CAD-wallet payment within 30 days after qualification. Reward amounts are conditional account credits, rather than extra trading leverage.[26]

The landing page says no trade is required and the referrer does not need to deposit. It describes the referral bands as the first ten, next ten and subsequent referrals each month. That wording differs from the guide’s rolling qualification description.[28]

A separate payment-help article still states a C$200 qualifying deposit. Confirm the offer shown for the actual referral before relying on either threshold; the public documents are inconsistent.[27]

Programme terms exclude self-referrals and existing accounts, allow rewards to be withheld for misuse and permit NDAX to change or discontinue the offer. Referral participation does not confer authority to advise or trade for the invited customer.[29]

API users must obtain access and acknowledge the relevant terms. Direct electronic access has additional training, software-testing and market-rule obligations. The agreement restricts API trading to the user’s own principal account and prohibits passing trading authority to others through that account.[3]

The reference documents authenticated trading, account data and order cancellation, with permissions controlled at user or call level. A trading-enabled connection should be treated as transactional access, not merely a statement importer.[23]

The API FAQ explicitly excludes staking operations: those must be managed through the website or app. Disconnecting trading software therefore should not be treated as switching off a separately enabled staking or Auto Earn instruction.[24]