VirgoCX review
- Fiat currencies
- 2
- Supported assets
- 78
Our verdict
Buy and sell crypto assets with zero trading fees on VirgoCX.
VirgoCX is an attractive exchange for crypto newbies, seasoned crypto traders and institutional investors alike. Anyone can benefit from the platform's intuitive and easy-to-use UI and advanced charting options.
Trade 75+ cryptos as well as NFTs from various collections. VirgoCX doesn’t charge for crypto deposits, Interac e-Transfers and wires, although there's a fee for debit and credit card deposits.
Institutional investors who trade large volumes of digital assets (over $50,000 CAD) can enjoy 24/7 liquidity with VirgoCX's OTC desk and personalise service via chat brokers.
If you're looking for flexible, low-cost deposits and access to lots of trading features, VirgoCX might be a good fit for you.
Pros
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Supports 75+ cryptos
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Flexible deposit methods
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Discounted spreads with the tiered rewards program
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Recurring buys help you dollar-cost average (DCA) into owning digital assets
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Grid feature allows you to automate purchasing crypto when it falls below a certain price
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Registered with the OSC
Cons
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Percentage fees for debit & credit card deposits
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Trading spreads can reach 2.5%
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$3,000 limit for transferring out via e-transfer, debit or credit
Details
Product details
| Product Name | VirgoCX Cryptocurrency Exchange |
| Fiat Currencies | CAD, USD |
| Cryptocurrencies | USDC,BTC,ETH,LTC,SOL,DOGE & 72 more |
| Deposit Methods |
Credit card Cryptocurrency Debit card Interac e-Transfer Wire transfer |
| Trading Fee |
Maker: N/A Taker: N/A |
| Deposit Fees |
Interac e-transfer: $0 Wire transfer: $0 Bill payment: $0 Debit card: 2.99%-5.99% Credit card: 3.99%-6.99% Crypto: variable (plus network fees) |
| Withdrawal Fees |
Interac e-transfer: $0 Wire transfer: $0 Crypto: variable (plus network fees) |
Ratings methodology - how we scored VirgoCX
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About VirgoCX — company background
Founded in 2018, VirgoCX is a Toronto-based cryptocurrency exchange that supports buying and selling over 75 digital assets. The app has features for both individual and business customers. VirgoCX is backed by nine investors. The company raised $10 million CAD in a 2022 Series A funding round and another $5 million in 2023.
Listed VirgoCX crypto exchange assets
VirgoCX supports over 78 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on VirgoCX.
Popular assets on VirgoCXVirgoCX fees
VirgoCX charges a variable (plus network fees) fee for crypto deposits, 3.99%-6.99% fee for credit card deposits and a 2.99%-5.99% fee for debit card deposits. Bill payment, wire transfer and interac e-transfer deposits are free for folks in Canada.
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Interac e-transfer: $0 Wire transfer: $0 Bill payment: $0 Debit card: 2.99%-5.99% Credit card: 3.99%-6.99% Crypto: variable (plus network fees) |
| Withdraw funds | Interac e-transfer: $0 Wire transfer: $0 Crypto: variable (plus network fees) |
| Type | Fee |
|---|---|
| Spread | 0.5%-2.5% |
Spread fee explained. A spread is the difference between the purchasing price and sale price of an asset and can be thought of as a markup. A spread fee is usually only apply to instant purchases and not the spot market. If a platform advertises zero fee trading then beware that they may charge a spread instead.
VirgoCX deposit methods
- Credit card
- Cryptocurrency
- Debit card
- Interac e-Transfer
- Wire transfer
How to sign up on VirgoCX exchange
Before you can even get started trading on VirgoCX, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is VirgoCX's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your VirgoCX account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on VirgoCX.
Is VirgoCX safe?
VirgoCX is compliant with PIPEDA (Personal Information Protection and Electronic Documents Act) and registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and licenced by CSA (Canadian Securities Administrators).
The exchange has also been audited by accredited accountants. Approximately 80% of crypto assets are held in cold storage in Coinbase Custody.
Past hacks
VirgoCX has never been hacked.
Audits
VirgoCX engages in full audits conducted by trusted third-party auditors. In December 2020, it underwent a financial audit by DW LLP – a chartered professional accounting firm based in Ontario.
The exchange also completed a reserve audit by Huayan CPA Professional Corporation and an AML audit by MNP LLP around the same time.
Security
Approximately 80% of VirgoCX customer assets are held in cold storage with Coinbase Custody Trust Company LLC. The remaining 20% are held in hot wallets by VirgoCX.
Insurance
Coinbase Custody holds approximately 80% of user assets and is licenced with the New York Department of Financial Services. It maintains US$320 million of insurance although this is shared among all of its institutional clients, not just VirgoCX.
VirgoCX then has an additional CAD$1 million insurance policy that specifically covers its users assets held with Coinbase Custody.
Keeping your crypto secure
All centralized exchanges, including VirgoCX, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
VirgoCX customer support
VirgoCX has a few different customer service options that you can take advantage of.
The first option is to go through the automated support bot. The support bot generates responses based on frequently asked questions and is located to the bottom right of the web browser version of the exchange. If you have an issue that is not covered or only partially answered through the support bot, you can try live chatting with customer support.
The exchange also provides a number of email addresses that you can use to contact its staff.
How to reach VirgoCX customer support
- Help center articles
- Live chat
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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