Virgo CX is a Canadian cryptocurrency exchange that was founded in 2018. Virgo CX is based in Ontario and offers Canadians an easy way to trade crypto. We tested Virgo CX to see if it is worth using in 2024.
Virgo CX offers Canadians the ability to trade over 50 cryptocurrencies. Free Interac e-Transfer and wire deposits and withdrawals from Canadian and US banks are accepted. Processing times for Interac deposits and withdrawals are instant while wire deposits and withdrawals take up to 24 hours.
As a fully regulated Canadian exchange, Virgo CX is also secure. It has insurance and conducts regular audits of its reserves.
Virgo CX has an NFT marketplace, OTC services to trade large amounts of crypto, and a foreign currency exchange should you wish to convert your fiat.
Virgo CX offers a Quick Trade option which is suitable for beginners, and anyone looking to buy or sell crypto quickly at market price. The advanced trading platform is suitable for more experienced traders and anyone wanting more advanced order types.
There is also an OTC Desk for people who wish to place large buy and sell orders over $30k. This feature is called Virgo CX Wealth. It is especially useful for those wanting a personalized trading experience when making large trades. You will get your own personal account manager when using this service.
Another feature of Virgo CX is its NFT marketplace. Users can browse, buy, sell, and mint NFTs. The NFTs can be bought with Ethereum.
Finally, Virgo CX has a fiat currency converter for anybody wanting to trade CAD for USD, or another fiat currency.
For those new to crypto, Virgo CX offers a helpful learning centre full of educational articles and guides.
Virgo CX offers free CAD Interac e-Transfer and wire deposits. You can also deposit US dollars from US banks using wire transfer. Fat withdrawals are also free. Credit and debit cards are not accepted.
Conveniently, Virgo CX offers a Quick Trade feature for when you want to buy crypto quickly at market price. The Quick Trade option is on the homepage of the website, so you can’t miss it.
The advanced trading platform is accessible when you click the Trade button at the top of the website. Here, more experienced users can find advanced charting tools and more order types including limit orders.
Virgo CX is a beginner-friendly Canadian crypto exchange. The trading platform and app are well-designed and simple to use. The advanced features make Virgo CX good for experienced investors and the OTC Desk is perfect for those wanting to make large trades.
While the NFT marketplace is a nice feature, there are not many NFT collections there. Additionally, the NFTs are listed in Ethereum, meaning you will pay high gas fees for purchasing these NFTs.
Virgo CX is a secure and compliant crypto exchange so it can be used with peace of mind. Free deposits and withdrawals make Virgo CX appealing but watch out for potentially high spreads. Virgo CX is a good exchange for Canadians who want simplicity and many cryptocurrencies. However, there are certainly other Canadian crypto exchanges that are just as simple to use that have lower spreads. For example, Coinsmart offers fewer coins but lower spreads which will save you a lot.
- Free deposits and withdrawals
- Interac e-Transfer available
- OTC Desk
- NFT marketplace
- Insurance for crypto assets
- Fully regulated in Canada
- USD and CAD accepted
- Crypto education portal
- Advanced trading features
- Quick Trade available
- Advanced trading platform can be confusing for beginners
- Relatively higher spreads than other exchanges
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Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.
When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.