VirgoCX Review

VirgoCX Review

Daniel Chan

August 18, 2021

Cryptocurrency

What is VirgoCX?

VirgoCX is a Canadian cryptocurrency trading platform founded in 2018, that is focused on making crypto trading safe, easy and affordable for Canadians. It is proudly Canada's top regulated crypto trading platform, providing advanced technology, superior liquidity and best-in-class security to its users.

  • Web Address: virgocx.ca
  • Main Location: Toronto, Canada
  • Mobile App: Yes
  • Deposit Methods:  Interac e-Transfer, Wire transfer
  • Trading Fees:  FREE
  • Deposit Fees:  FREE
  • Fiat Currencies:  CAD, USD
  • Cryptocurrencies:  BTC, ETH, LTC, EOS, DOT, ADA & 17 more

My Overall Thoughts on VirgoCX

VirgoCX is one of my best recommendations for Canadians that are looking to enter the crypto market. These are the top 3 reasons why:

1)  VirgoCX's platform is extremely user-friendly, with a simple and intuitive dashboard that is perfect for new users. Even a complete beginner to crypto investing and trading will have no problem navigating their way around the site. If you run into any issues, 24/7 Live Chat and email support is available to assist at all times.

2)  VirgoCX is perfect for new users, as it boasts ZERO deposit fees and ZERO trading fees! The only fees you need to pay are upon withdrawal, which is a low 0.5% fee for fiat withdrawals, and a small flat fee for withdrawing cryptocurrency (varies depending on the individual coin).

3)  VirgoCX has access to 23 of the most popular cryptocurrencies. You will find Bitcoin, Ethereum, Litecoin, EOS, Stellar, DOGE and more on their platform. 

One of the common complaints I hear about VirgoCX is that they charge a withdrawal fee, where other exchanges have free withdrawals. I don't think this is a big issue because VirgoCX doesn't charge any fees on its trades, which saves you money. Also, if you are withdrawing in crypto to your personal wallet, the fees are a flat rate, and at a reasonable cost.

If you are a new user looking for an easy-to-use exchange, VirgoCX is definitely one that you should consider.

Key Features & Advantages of VirgoCX

VirgoCX has a lot of excellent features that make it one of the best Canadian trading platforms. I have summarised the key features here to help you learn more about the exchange:

What Services does VirgoCX offer?

Canadians have so many different crypto exchanges to choose from, so what makes VirgoCX one of the best? Here I will go into detail about the services that VirgoCX offers.

Simple interface that is perfect for new users:  VirgoCX aims to make their exchange easy for Canadians to use, and they have surely achieved that. The layout of the VirgoCX platform is attractive and intuitive, with simple icons and large buttons that assist new crypto investors. 

ZERO trading fees and ZERO deposit fees:  VirgoCX is extremely transparent with their simple fee structure, with no hidden fees or commission. With absolutely zero fees charged on depositing and trading, this is an excellent exchange for someone who is just starting out in the crypto market. The only fees you need to pay are when you withdraw funds from VirgoCX. If you are withdrawing fiat currency (CAD or USD) you pay a low fee of just 0.5% which is very reasonable, considering the deposit and trading is all for free.

23 different cryptocurrencies supported:  VirgoCX has all of the most popular cryptocurrencies available for you to trade. Here are all the currently supported coins:

Android and iOS mobile apps VirgoCX is available to download on both iOS and Android devices. It allows you to deposit and trade on the go, so you never miss out if you are away from a computer. The app is just as intuitive and easy-to-use as the desktop site, with its fresh and modern interface.

24/7 Live Chat and email support One of the features I look for in any crypto exchange is the support available. Some exchanges only have email support, which I find frustrating, as it can take days of back and forth before your issue is resolved. Live Chat is a much better option of support, as you receive immediate assistance in real time. Luckily VirgoCX has 24/7 Live Chat as well as email options if you prefer. If you are a new user to crypto, I would suggest you steer away from any exchange that doesn't offer Live Chat, otherwise you could be in for a world of frustration if something goes wrong down the track.

Buy crypto instantly with CAD:  As a Canadian, you will like the convenience of being able to deposit CAD directly into VirgoCX and being able to purchase crypto directly with it. There is no need to convert your CAD to USD before you can buy crypto. The process is smooth and easy so you can get your crypto as soon as possible.

Once you have deposited your funds, you can use the Quick Trade feature on the Dashboard which allows you to buy and sell BTC, ETH and USDT instantly. 

If you want to buy any of the other 20 altcoins, click on Advanced Trade on the left of the screen, then select which coin you want to purchase at the top left. You can buy or sell at Market price (purchase instantly) or Limit, where you select the price that you want to buy or sell at, and wait for someone to fulfil that order.

Over-The-Counter trade desk:  VirgoCX caters for institutional buyers and sellers, with an Over-The-Counter (OTC) trade desk available for trades over $30 000. They have dedicated OTC account managers providing personalised service, and are able to offer deep liquidity pools by providing large volume trading of crypto without price slippage.

Security is a top priority:   VirgoCX users can trade safely with peace of mind, as VirgoCX has Best-in-Class security system. Your digital assets are safe with 2FA and SSL protocols, as well as protection by Ledger Vault. Their banking and payment partner is trusted and reliable, allowing secure transfer of your fiat currencies to and from the platform. VirgoCX is registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) to ensure the safety of user accounts and secure financial transactions. 

VirgoCX Fees

VirgoCX Deposit Fees

There are ZERO deposit fees when depositing fiat or cryptocurrency into your VirgoCX account.

VirgoCX Withdrawal Fees

VirgoCX charges a small withdrawal fee of 0.5% on fiat withdrawals in CAD and USD.

VirgoCX charges a flat rate on cryptocurrency withdrawals, dependant on the coin. Here is a sample of the fees for some common coins:

Header

BTC

ETH

USDT

LTC

BCH

EOS

Withdrawal Fees

0.0003 BTC

0.0035 ETH

15 USDT

0.002 LTC

0.0003 BCH

0.01 EOS

VirgoCX Trading Fees

VirgoCX charges ZERO trading fees on all trades, with no hidden commissions or costs.

Pros and Cons of VirgoCX

Pros
  • ZERO trading and deposit fees
  • Intuitive interface and easy to use
  • Mobile app for iOS and Android
  • 24/7 Live Chat customer support
  • Referral program that allows you to earn a free $30 when a friend or family member signs up.
Cons
  • Only CAD and USD accepted
  • Only 23 cryptocurrencies available

Is VirgoCX Legitimate or a Scam?

VirgoCX is a legitimate Canadian crypto exchange that is registered with FINTRAC and meets all its KYC, AML and ATF obligations. It has been established since 2018 and is secured using Ledger Vault, a multi-authorisation digital asset wallet management solution to ensure all users funds are kept safe.

Verdict

VirgoCX is an excellent choice for any crypto trader or investor in Canada, and especially newcomers to the cryptocurrency market. Its modern and intuitive interface make it easy for anyone to buy and sell crypto within minutes. The fee structure is transparent, with no fees on depositing or trading, and a low 0.5% fee for withdrawing fiat currency. With its top-notch security protocols, and 24/7 Live Chat support at your fingertips, you can trust VirgoCX to look after you. 

If you are still looking to research more before making a decision, you can read an article on the best crypto exchanges in Canada by clicking here.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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