VirgoFX charges a 0.95% spread for trading BTC & ETH against USD or CAD. Trading other cryptocurrencies against these two incurs a 1.6% spread. For trading digital assets against USDC, there is a 0.5-0.6% cost for tier 1 coins/tokens.
VirgoCX provides various promotions, including Virgo Plus with spread discounts up to 40%, Tiered Rewards with spread discounts up to 90%, and a referral program with fixed rewards up to 20 CAD.
VirgoCX Information & Regulation
Founded in 2018 by Adam Cai, VirgoCX Inc. is headquartered in the heart of Toronto at 4950 Yonge St, North York. Here's the lowdown on VirgoCX's regulatory credentials:
- Registered as a Money Service Business (MSB) under the number M19955733
- Operates under the supervision of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
- Registered with the Canadian Securities Administrators (CSA) under the number 72570
Although not directly registered with the BCSC or ASC, VirgoCX crypto exchange maintains adherence to national regulatory frameworks.
VirgoCX Exchange CEO
Adam Cai is the CEO and Founder of VirgoCX, one of Canada’s leading regulated cryptocurrency exchanges, based in Toronto, Ontario. With over 6,000 followers on LinkedIn and a strong presence in the Canadian crypto community, Cai advocates for digital asset adoption and blockchain innovation across the country.
- Education & Background: MSc in International Business from the Ivey School of Business, and a Bachelor’s in Economics from Shanghai Maritime University;
- Career Path: Formerly held senior roles at BMO Capital Markets, Goldenwise Capital Management, and Cascadia Blockchain Group before founding VirgoCX in 2019;
- Achievements: Actively collaborates with Canadian policymakers to promote Bitcoin integration and financial innovation;
- Expertise: Blockchain strategy, crypto regulation, and institutional market development.
VirgoCX Exchange Key Specifications
The company operates based on a set of parameters in providing its crypto exchange services:
Exchange | VirgoCX |
Launch Date | 2018 |
Levels | Unverified, Verified |
Trading Fees | Varies |
Restricted Countries | Afghanistan, Iran, Iraq, North Korea, etc. |
Supported Coins | 90+ |
Futures Trading | None |
Minimum Deposit | $1 |
Deposit Methods | Interac e-Transfer, Bill Payment, and Credit/Debit Card for CAD, Wire Transfer for USD or CAD, Crypto |
Withdrawal Methods | Interac e-Transfer, Bill Payment, and Credit/Debit Card for CAD, Wire Transfer for USD or CAD, Crypto |
Maximum Leverage | 1x |
Minimum Trade Amount | Zero |
Security Factors | 2FA, PIPEDA Compliant, Fiat Assets Held Within Trusted Bank Partner, Cold Storage, 1M CAD Insurance, Proof of Reserve and Other Types of Audits |
Services | Virgo Boost Program |
Customer Support Ways | Email, Live Chat, Ticket |
Customer Support Hours | Monday to Friday, 10 AM to 6 PM ET |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | None |
Benefits and Drawbacks
Like any platform, VirgoCX has its strengths and weaknesses. Let's break them down:
Benefits | Drawbacks |
Decent Range of Cryptocurrencies | No Passive Earning Features |
Registered with CSA | Only Spot Trading Provided |
Various Security Measures | - |
VirgoCX Exchange User Levels
Based on the examinations done on the platform, it does not employ any user leveling system. Only two levels are available, which are Unverified and Verified; the former restricts users in some operations with the exchange.
Commissions and Costs in VirgoCX
The exchange has a complex structure when it comes to trading fees. The next sections review commissions in trading and in deposits/withdrawals.
VirgoCX Trading Fees
The table below discusses the spreads for CAD and USD to crypto market pairs:
Tier | Tier 1 Assets (BTC & ETH) | Tier 2 Assets (All Other Symbols) |
Fees | 0.95% | 1.6% |
For USDC to other cryptocurrency pairs, costs are as follows:
Tier | Tier 1 Assets | Tier 2 Assets | Tier 3 Assets |
Cryptocurrencies | ADA, ALGO, ARB, ATOM, AVAX, BCH, BTC, DOGE, DOT, ETH, FIL, LINK, LTC, MATIC, NEAR, RENDER, SHIB, SOL, XLM, XRP, POL | BONK, HBAR, ICP, ONDO, OP | ILV, JUP, PEPE, PRIME, WIF, WLD |
Commissions | 0.5%-0.6% | 0.6%-0.7% | 0.7%-1% |
Finally, there is a spread system for buying USD using CAD and vice versa:
Order Amount (CAD/USD) | Spread |
0 | 1.85% |
$50,000+ | 1.45% |
$100,000+ | 0.95% |
The company states that these spreads could increase to up to 2% "during weekends and statutory holidays regardless of the order size".
VirgoCX Deposit/Withdrawal Costs
For making fiat deposits, only credit card [3.99%] and debit card [2.99%] methods incur fees. There are no costs of any kind for fiat withdrawals.
Also, there are no commissions for crypto fundings; however, withdrawing cryptocurrencies from the exchange comes with a cost that varies based on the blockchain used.
List of Available Cryptocurrencies
With over 90 digital assets available for trading against USD, USDC, and CAD, VirgoFX claims that it offers one of the longest lists among Canadian exchanges. These assets are from various categories, including:
- NFT
- Gaming
- Metaverse
- Storage
- Infrastructure
- Data
- Scaling
Does VirgoCX Exchange Offer Futures And Margin Trading?
This company does not provide any futures markets and margin trading options, similar to many other Canadian crypto exchanges. Traders looking for leveraged profits should look elsewhere.
How to Open an Account and Verify
Signing up with VirgoCX is a quick and easy process. Here's our guide:
#1 Access Registration Portal
Visit VirgoCX’s official platform and click Sign Up to begin.
#2 Enter Credentials or Use Social Login
Provide your email and a strong password, or expedite signup via Google/Apple integration.
#3 Accept Terms & Conditions
Review and agree to VirgoCX’s policies to proceed.
#4 Verify Your Email
Check your inbox for a confirmation code and enter it on the platform.
#5 Complete KYC Verification
Submit required documents (ID, proof of residence) to activate full account privileges. Fast-tracked for traders.
VirgoCX Quick Trade Guide
VirgoCX offers a seamless trading experience for Canadian users, allowing instant crypto transactions with real-time price tracking and transparent conversion rates. Whether you want to buy Bitcoin, Ethereum, or other digital assets, the Quick Trade feature ensures fast execution with just a few clicks.
#1 Log In and Access the Trade Section
After logging in to your VirgoCX account, navigate to the Trade section on the main dashboard. This is where you can instantly buy or sell cryptocurrencies using Canadian Dollars (CAD).
- Open the VirgoCX platform and sign in securely;
- Click "Trade" to enter the Quick Trade interface;
- Choose your preferred trading pair (e.g., BTC/CAD, ETH/CAD);
- Real-time market prices and updated charts will be displayed.
#2 Select Trade Amount and Currency
In this step, choose how much CAD you want to spend or how much crypto you want to buy. The system automatically calculates the equivalent amount based on the current market rate.
- Enter the desired amount in CAD or crypto;
- Example: If BTC is CAD 52,998 and you wish to buy 1 BTC, the system displays CAD 52,998;
- For smaller trades, entering 1 CAD shows 0.0000188 BTC based on live rates;
- Review the conversion details before proceeding.
#3 Confirm and Execute the Trade
Once you’re satisfied with the trade details, confirm your transaction instantly by clicking Buy or Sell. The system processes orders immediately using market execution.
- Click "Buy" to purchase or "Sell" to liquidate assets;
- Review final price, quantity, and order confirmation;
- Similar steps apply when selling crypto — enter the amount to receive in CAD or the quantity to sell;
- Funds and crypto balances update automatically.
Exchange Trading Platform and Applications
VirgoCX has developed a proprietary platform for executing orders with essential features and a TradingView-powered chart. The terminal offers a "Recurring Buy" option, enabling traders to automate buying cryptocurrencies. It is accessible via web browser and mobile apps that are downloadable via these links:
VirgoCX Services
VirgoCX delivers a well-rounded suite of crypto trading and investment features for retail and institutional users in Canada. With API access, OTC trading, NFT marketplace integration, and automated investing options, the platform provides flexibility for both traders and long-term investors.
Service | Availability |
TradingView Integration | Yes |
Auto Trading (Bots) | No |
API Access | Yes |
P2P Trading | No |
OTC Trading | Yes |
| No | |
Launchpad | No |
NFT Marketplace | Yes |
Referral Program | Yes |
DEX Trading | No |
Auto-Invest (Recurring Buy) | Yes |
Safety and Security Measures
VirgoCX has mentioned several security implementations that have been done on its platform:
- Two-Factor Authentication (2FA): Additional security for the account;
- PIPEDA Compliant: Adheres to Canadian privacy laws;
- Cold Storage: Holds most assets in offline storage by Coinbase Custody;
- 1M CAD Insurance: Additional protection against potential breaches;
- Proof of Reserve: Regular audits to ensure user funds are fully backed.
Based on the investigations, no recorded breaches or successful hacks exist in VirgoCX's operational history.
Payment Options on VirgoCX
The exchange offers a suitable set of payment methods to its users. For CAD:
- Interac e-Transfer
- Wire Transfer
- Bill Payment
- Credit/Debit Card
For USD deposits/withdrawals, traders can only use wire transfers. Also, VirgoCX accepts crypto transactions.
Trust Ratings and Evaluations
When it comes to VirgoCX Trustpilot Score and other websites, there are few ratings:
- Trustpilot: 2.9/5 stars (only five reviews)
- ScamAdviser: 2.5/5 user score (based on 2 reviews), but 100/100 Trustscore
Since the number of scores is too low, we cannot consider these results reliable.
VirgoCX Features
The table below summarizes the additional benefits offered by the exchange:
Features | Availability |
No | |
Yield Farming | No |
No | |
Liquidity Pool | No |
Gift Card | No |
VirgoCX Bonuses and Promotions
Unlock more value on VirgoCX through rewards that fit every trading style. Earn gamified points, lock in spread discounts, climb VIP tiers faster, and monetize referrals. Below is a quick side-by-side of the major programs so you can pick the best stack.
Program | Eligibility | Core Reward | Key Requirements | Period |
Virgo Boost | Verified VirgoCX account | Virgo Bits for daily claims, games, surveys, deposits, trades, referrals | Account in good standing | Ongoing. Daily and monthly activities |
Virgo PLUS | Any verified user, paid subscription | Immediate tier uplift, spread discount, gift card, Bits accrual, withdrawal coverage | Pay 30, 180, or 360-day fee | Benefits active during subscription |
Tiered Rewards | All traders | Spread discounts from 10% up to 90% | Volume thresholds per tier | Tier recalculates every 2 minutes |
Referral Pilot | Verified users | Shared spread revenue or fixed cash bonuses | Referees must verify and fund | Ongoing pilot |
Virgo Boost Program
Earn Virgo Bits without needing to trade. Log in, play light games, complete daily tasks, answer monthly surveys, and join campaigns to collect points that redeem for perks and tier boosts.
- Daily Tiered Bonus must be claimed before 23:59:59 UTC;
- Coinguess Quest runs daily except the last day of each month. Correct guesses award extra Bits;
- Virgo Echoes survey on the last day of each month gives participation Bits;
- Bits can redeem for Reward Tier upgrades or digital and physical gifts.
Virgo PLUS
A subscription that instantly uplifts your tier and cuts spreads, with welcome gift cards and ongoing Bits earnings. Ideal for frequent traders who want predictable savings.
- Plans: Basic to VIP 3 with 20% spread discount or Pro to VIP 5 with 40% discount;
- Terms available for 30, 180, 360 days;
- First-time purchase gift card included;
- Optional auto-renew. Withdrawal coverage up to 6 CAD per month.
VirgoCX Tiered Rewards Program
Trade more and pay less. Your 30-day rolling volume sets your Reward Tier with spread discounts from 10% at VIP 2 to 90% at Whales.
- Tiers refresh up to every two minutes;
- Apply for Tier Lifting before large trades to secure the discount;
- Example bands: VIP 5 requires 100k to 500k CAD volume. Wolves to Whales reward million-level volume with 65% to 90% discounts.
Virgo Referral Pilot Program
Transform your network into passive income. Choose Shared Rewards or Fixed Rewards to earn when friends trade.
- Shared: earn 10% of VirgoCX spread revenue from each referee’s trades. Higher share possible via application for large-volume referees;
- Fixed: 5 CAD on verification for both parties, plus 15 CAD each after the first 100 CAD deposit;
- No cap on referrals.
VirgoCX Support: Contact Channels and Working Schedule
This exchange offers 3 options for contacting the support department:
- Email: support@virgocx.ca
- Live Chat: Available through the website
- Ticket: On “Contact Us” page
VirgoCX's live chat support team is availableMonday to Friday, 10 AM to 6 PM ET.
Copy Trading and Passive Investment Features
If you're looking for copy trading or passive income options on VirgoCX, you might be disappointed. The platform currently doesn't offer these features.
VirgoCX Restricted Countries
Some countries in the world are internationally sanctioned or restricted for various reasons, and global companies including VirgoCX do not offer services to them. These regions include:
- Afghanistan
- Belarus
- North Korea
- Iran
- Iraq
- Jamaica
- Turkey
- Yemen
- And more
VirgoCX in Comparison With Competitors
The brokerage's performance is evaluated against some of the major players in the industry in this section:
Parameters | VirgoCX Exchange | Bybit Exchange | OKX Exchange | HTX Exchange |
Number of Assets | 90+ | 1300+ | 7800+ | 700+ |
Maximum Leverage | 1:1 | 1:100 | 1:12 | 1:200 |
Minimum Deposit | $1 | Varies by Cryptocurrency | N/A | $1 |
Spot Maker Fee | 0.5% - 1.85% | 0.005% - 0.1% | -0.01% - 0.14% | From 0.02% |
Spot Taker Fee | 0.5% - 1.85% | 0.015% - 0.1% | 0.03% - 0.23% | From 0.02% |
Mandatory KYC | Yes | Yes | Yes | Yes |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | Yes | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | No |
Staking | No | Yes | Yes | Yes |
Copy Trading | No | Yes | Yes | Yes |
Writer's Opinion and Conclusion
VirgoCX, offering 90+ tradable cryptocurrencies and no-commission crypto deposits, does not charge traders for withdrawing fiat currencies. The platform hasn’t received many reviews, but has obtained a 100/100 TrustScore on “ScamAdviser”.
