Coinsquare Review 2026: CIRO-Registered Crypto Trading in Canada

Coinsquare is a centralized crypto exchange for Canadians. It says it was founded in 2014 and reports more than 9 million trades and over $8 billion in volume traded. The homepage lists 60+ cryptocurrencies and over 3,000 trading pairs, and the team is described as more than 100 people.

Its main selling point is regulation. Coinsquare says it is Canada's first crypto trading platform registered as a CIRO Investment dealer and marketplace member. Client assets are said to be held with external custodians, and cash is said to be covered by CIPF up to a stated limit.

The homepage also carries a banner saying Coinsquare is now part of Robinhood. No further details are given in the material reviewed. DefiLlama tracks it as a CEX with about $2.9 million in on-chain TVL across chains including Bitcoin, Ethereum, Solana, Cardano, XRP Ledger, Avalanche, Dogecoin, Litecoin and Cosmos, and lists no audits.

Coinsquare is a centralized exchange. You deposit Canadian dollars, and the platform matches your order to a trade or fills it against available liquidity. Your crypto balance is a record on Coinsquare's books, backed by assets that the company says sit with external custodians.

The homepage splits the service into products: Trade for self-directed buying and selling, Wealth for clients who want a CIRO-registered Investment Representative, and Staking for earning rewards on supported coins. Identity checks are required before trading, in line with Canadian AML and KYC rules.

Unlike a decentralized exchange, trades are not settled by smart contracts you control. You rely on the company, its regulator oversight and its custodians. You can withdraw to a personal wallet if you want to hold your own keys.

Coinsquare's trading fees, spreads, deposit and withdrawal charges and staking commissions are not published in the material reviewed. The homepage describes products but gives no fee table.

Users should check the fee schedule inside the app or on the site before funding an account. Pay attention to the difference between the quoted price and the market price, as well as any withdrawal fees when moving crypto to a personal wallet. The staking rate of up to 12.77% is a headline maximum and may be net of platform charges that are not described here.

Coinsquare says it is a CIRO-registered investment dealer and marketplace member, and that client assets are held in trust with Coinbase Custody and BitGo Trust Company, which it says have a combined $680M USD in insurance. It also says CIPF covers cash shortfalls up to $1 million CAD per account if Coinsquare becomes insolvent. These are the company's statements, and users should confirm them with the regulator and the CIPF.

As with any centralized exchange, you carry counterparty risk. The CIPF description refers to cash, and the project does not say crypto is covered. DefiLlama lists no audits, which is normal for a centralized exchange since its core systems are not open smart contracts. No hacks or incidents appear in the material reviewed. Staking carries its own risks, including lockups and asset price moves.

Canadian residents who want a regulated exchange with CAD funding, a simple mobile app and optional staking or advisory service. It is less relevant for users outside Canada, for those wanting self-custody by default, or for anyone who needs published fee details before choosing a platform.