Ndax (National Digital Asset Exchange), a crypto exchange with staking and auto-invest options, charges a flat 0.2% fee on all trades. The platform features 30+ cryptocurrencies and does not provide any futures/margin trading markets. Only CAD is accepted for fiat deposits.
Ndax Exchange Company Specifics and Regulation
Ndax, operating under the legal name Ndax Canada Inc., is a Canadian crypto exchange. Key Data About The Company:
- Founded in 2018 by CEO Bilal Hammoud
- Based in Calgary, Alberta, Canada
- Registered as a Money Service Business (MSB)
- Registered as an investment dealer with Canadian Investment Regulatory Organization (CIRO)
- Supervised by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
- Adhering to
Ndax Summary of Details and Specifics
This exchange operates based on a set of features discussed in the table below:
Exchange | Ndax |
Launch Date | 2018 |
Levels | N/A |
Trading Fees | 0.2% |
Restricted Countries | Only Available for Canadian Residents |
Supported Coins | 30+ |
Futures Trading | None |
Minimum Deposit | None |
Deposit Methods | Interac E-Transfer, Wire Transfer, Crypto |
Withdrawal Methods | Interac E-Transfer, Wire Transfer, Crypto |
Maximum Leverage | 1x |
Minimum Trade Amount | N/A |
Security Factors | 2FA, SOC2 Type II Certification, Cold Storage, $5M Insurance for Cold Wallets and $3M Insurance for Hot Wallets, Segregated Accounts, Multi-Signature Approvals, and More |
Services | Staking, Auto Invest |
Customer Support Ways | Email, Live Chat, Ticket |
Customer Support Hours | Monday to Friday, 10:00 am to 12:00 am (EST) |
Fiat Deposit | CAD |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | None |
Strengths and Weaknesses
Every crypto exchange comes with advantages and disadvantages. We will review those of Ndax in this part of the article:
Strengths | Weaknesses |
Strong Focus On Security | Only Available for Canadian Residents |
Supervised by Financial Authorities | No Margin or Futures Trading Options |
Staking Option for Earning Passive Income | Smaller Selection of Cryptocurrencies |
User Levels
Per our investigations of the exchange and its platform, there is no leveling system designed for users. Some companies create a structure for putting users in different levels based on their trading volume, verification status, etc.
Commissions and Fees in Ndax
This exchange offers a straightforward fee structure as stated on the official website. Costs Overview:
- Trading Fees: Flat 0.2% for all transactions
- Deposit Commission: No fees for CAD deposits via Interac e-Transfer or wire transfer
- Withdrawal Fees: Costs vary by cryptocurrency for crypto (0.000399 BTC), $1.50 for Interac e-Transfer, and $4.99 for wire transfers in fiat currencies
- Staking Costs: 20% administration fee on total generated rewards
A crypto profit/loss calculator tool may calculate a trade's outcome, considering related commissions.
List of Tradable Coins and Tokens on Ndax Exchange
This exchange offers a limited list of only over 30 cryptocurrencies for trading, including:
- Bitcoin [BTC]
- XRP
- Binance Coin [BNB]
- Solana [SOL]
- Cardano [ADA]
- Tron [TRX]
- Litecoin [LTC]
- Stellar [XLM]
- Polkadot [DOT]
- Shiba Inu [SHIB]
- Internet Computer [ICP]
Futures And Margin Trading
For traders looking for advanced trading options, it's important to note that Ndax does not offer futures or margin trading. This limitation is probably because the platform is a regulated exchange.
Account Opening and Verification on Ndax
Creating an account with Ndax -a crypto exchange exclusive to Canadian users - is quick and secure. After a brief sign-up and email verification, you’ll gain full access to the dashboard and trading interface.
#1 Access the Ndax Sign-Up Page
Visit the official Ndax website and click “Sign Up” from the homepage.
#2 Complete the Ndax Account Form
Fill out the form with the following:
- Country of residence (must be Canada)
- First and last name
- Username
- Email address
- Strong password
- Promo code (optional)
Agree to the terms, and click “Sign Up.”
#3 Verify Your Email on Ndax
Check your inbox for a 6-digit verification code from Ndax. Enter the code on the website to activate your account and access the dashboard.
#4 Ndax Verification
Once your email is verified, proceed to complete full identity verification by uploading the required documents, such as your passport, directly from your Ndax profile.
This step is essential to enable withdrawals and other financial features.
Trading Platform and The Software
Crypto exchanges mostly offer proprietary trading platforms, and NDAX follows the same approach. This company’s platform is accessible through these operating systems:
Security Measures and Safety Factors on Ndax
The exchange has published a lot of information regarding security factors on its website. Some of the most important measures include:
- Two-Factor Authentication (2FA): Required for all accounts
- SOC 2 Type II Certification: Demonstrates commitment to maintaining high security standards
- Cold Storage: The Majority of user assets are held in offline wallets
- Insurance: $5M insurance for cold wallets and $3M for hot wallets
- Segregated Accounts: User funds kept separate from operational funds
- Multi-Signature Approvals: Required for withdrawals and critical account changes
Deposit/Withdrawal Options
Ndax offers 3 methods for depositing and withdrawing funds:
- Interac e-Transfer
- Wire transfer (free)
- Crypto blockchain transactions
Other common options, like credit cards or PayPal, are not supported. This limited accessibility ensures strict compliance with Canadian regulatory norms.
Trust Ratings in Ndax
When considering an exchange, it's crucial to look at user reviews and trust scores. Ndax’s Score on REVIEWS.io and Other Sources:
- Trustpilot: 3.3/5 stars based on 180+ reviews
- ScamAdviser: 1.3/5 user score (10+ reviews), but 100/100 trust score
- io: 2.2/5 stars based on over 390 reviews
Ndax Features and Services
Let's go deeper and examine the availability of the advanced options in the exchange:
Feature | Availability |
Staking | Yes |
Yield Farming | No |
Social Trading | No |
Liquidity Pool | No |
Gift Card | No |
For high-volume clients, NDAX Wealth offers bespoke OTC services and a dedicated account executive for tailored onboarding, trade execution, and support.
This service targets institutions and high-net-worth individuals seeking deep liquidity and personalized assistance.
Support Contact Options and Schedule
Ndax offers 3 channels for customer support:
- Email: support@ndax.io
- Live Chat: Available on the Ndax website
- Support Ticket: Submit through the website
- Phone: 1-833-727-6329
Based on the information provided by the exchange, phone and chat options are available Monday to Friday, 10:00 am to 12:00 am (EST).
Copy Trading and Passive Income Options on Ndax Exchange
The exchange offers 2 main options for users looking to earn passive income:
- Staking: Users can stake various cryptocurrencies, including Cardano, Ethereum, and Sui, earning up to 13% APY;
- Auto Invest: This feature allows users to set up recurring purchases of cryptocurrencies, enabling Dollar-Cost Averaging strategies;
- Affiliate program: it rewards users with $10 per referral, plus 10% of revenue generated by referred users.
Ndax Restricted Countries
As a Canadian-focused exchange, this company is exclusively available to Canadian residents. In other words, no traders from other regions are allowed to register with this exchange.
Ndax Comparison TableComparison
Let's see the differences between Ndax and some competitors; Ndax Comparison:
Parameters | Ndax Exchange | |||
Number of Assets | 30+ | 7800+ | 700+ | 2800+ |
Maximum Leverage | 1:1 | 1:12 | 1:125 | 1:200 |
Minimum Deposit | None | N/A | Varies by Cryptocurrency | $1 |
Spot Maker Fee | 0.2% | -0.01% - 0.14% | 0.02% | 0.05% |
Spot Taker Fee | 0.2% | 0.03% - 0.23% | 0.02% | 0.05% |
Mandatory KYC | Yes | Yes | No | Yes |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | Yes |
Staking | Yes | Yes | Yes | Yes |
Copy Trading | No | Yes | Yes | Yes |
Writer's Opinion and Conclusion
Ndax has a 3.3/5 score on “Trustpilot”, with more than 180 user reviews. On REVIEWS.io, the score is lower at 2.2/5 based on 390+ ratings. ScamAdviser has given a 100/100 Trustscore to the platform. The support team is available Monday to Friday, 10:00 am to 12:00 am (EST)