VirgoCX
| VirgoCX snapshot | |
| Minimum Deposit | $1 |
| Deposit Methods | Interac e-Transfer, Wire Transfer, Bill Payment |
| iOS app score |
4.5
Official rating from the iOS App Store as of November 18, 2024.
|
| Android app score |
0
Official rating from the Android Play Store as of November 18, 2024.
|
- Free deposits and withdrawals for CAD
- Tiered rewards program with up to 90% spread discounts
- Registered with FINTRAC and CSA
- Virgo Bits rewards program
- Canada only
- Limited USD options for Quebec residents
- Higher base spreads compared to some competitors
Table of Contents
What is VirgoCX?
VirgoCX is a Canadian cryptocurrency exchange founded in 2018. The platform is registered with FINTRAC as a money services business and with the CSA as a restricted dealer.
VirgoCX's mission is to become the trusted full-service solution for all things cryptocurrency to all Canadians.
Key Takeaways
- VirgoCX is a legitimate Canadian crypto exchange registered with FINTRAC and CSA.
- Offers free CAD deposits and withdrawals via Interac e-Transfer and wire transfer.
- Features a tiered rewards program with spread discounts up to 90% for high-volume traders.
- Supports 50+ cryptocurrencies with competitive spreads.
Is VirgoCX Safe?
VirgoCX is registered with FINTRAC as a money services business (#M19955733) and with the CSA as a restricted dealer, providing regulatory oversight.
Here are key security features of VirgoCX:
- Crypto assets are held with Coinbase Custody as third-party custodian
- Comprehensive account security measures and PIPEDA compliance
- Regular third-party audits of processes and technologies
- Institutional-grade transaction controls and 24/7 monitoring
- No reported security incidents or loss of customer funds
How Does VirgoCX Work?
VirgoCX works like most cryptocurrency exchanges:
- Create and verify your account
- Deposit Canadian dollars via Interac e-Transfer, wire transfer, or bill payment
- Buy and sell cryptocurrencies
- Withdraw funds or crypto to external wallets
The platform offers both web and mobile app interfaces for iOS and Android devices.
Fees & Rates
VirgoCX uses a spread-based fee structure:
| Asset Tier | Spread |
|---|---|
| Tier 1 (BTC & ETH) | 0.95% |
| Tier 2 (All Other Assets) | 1.6% |
Deposit and withdrawal fees for Canadian dollars are free. Cryptocurrency withdrawals have network fees covered by VirgoCX, with up to $6 CAD monthly subsidy for the first withdrawal each month.
Tiered Rewards Program
VirgoCX offers a comprehensive tiered rewards program based on 30-day trading volume:
- VIP 1 ($0-$3,000): 0% discount
- VIP 2 ($3,000-$10,000): 10% discount
- VIP 3 ($10,000-$50,000): 20% discount
- VIP 4 ($50,000-$100,000): 30% discount
- VIP 5 ($100,000-$500,000): 40% discount
- VIP 6 ($500,000-$1M): 50% discount
- Wolves ($1M-$3M): 65% discount
- Titans ($3M-$6M): 80% discount
- Whales (>$6M): 90% discount
The platform also offers Virgo PLUS subscription plans and a Virgo Boost rewards program for earning Virgo Bits through daily activities.
Supported Regions
VirgoCX is available to Canadian residents only. Quebec residents have restrictions on USD funding, trading, and withdrawal options.
Mobile Apps
VirgoCX offers mobile apps for both iOS and Android devices. The iOS app has a 4.5-star rating, while the Android app is available but has no public rating.