Status Notice: Coinsquare has not left Canada. Its dealer, Coinsquare Capital Markets Ltd., is still CIRO-regulated and holds customer accounts. But since Robinhood closed its WonderFi acquisition on June 1, 2026, customers are being moved to the Robinhood app, and the Coinsquare app will be retired once everyone has switched. Coinsquare no longer accepts new sign-ups, so you cannot open a new account there. Our top pick for new users is Coinbase. This review is kept for reference.
Coinsquare is a Toronto crypto platform whose Canadian dealer, Coinsquare Capital Markets Ltd. (CCML), is on the CSA's authorized list and is a CIRO member. It is now part of Robinhood, which closed its acquisition of parent company WonderFi on June 1, 2026. Existing customers are being invited in phases to move to the Robinhood app, after which the Coinsquare app becomes read-only and is later retired. We do not recommend opening a new account, and we do not rate it.
| Detail | Info |
|---|---|
| Canadian Dealer | Coinsquare Capital Markets Ltd. (CCML), Toronto, subsidiary of Coinsquare Ltd., owned by WonderFi, now Robinhood-owned |
| CSA Status | CSA-registered Listed as a Crypto Asset Trading Platform on the CSA's authorized list (Decision of October 11, 2024). Not on the banned list |
| CIRO | Member. Investment dealer and marketplace member, membership terms imposed 2024-02-20 |
| FINTRAC | CCML is listed as registered (the listed expiry, 2026-08-21, has passed, so a renewal is probably pending). The older entities Coinsquare Ltd. and Coinsquare Canada Ltd. are listed as ceased |
| Coins | Coinsquare's homepage says 60+ cryptocurrencies and over 3,000 trading pairs. Robinhood in Canada: 50+ coins |
| Custody | External custodians (Coinbase Custody and BitGo Trust Company), with a combined USD 680M insurance figure given by Coinsquare |
| Protection | Cash covered by CIPF up to CAD 1M. Crypto is not covered by CIPF |
| Fees After Migration | Flat 0.5% on CAD trades "for the first few months after launch" on Robinhood |
| App Ratings | Apple Canada 4.58 (5,373 ratings), Google Play 4.2 (2.32K reviews, global) |
What Happened To Coinsquare?
Coinsquare was bought, not shut down. WonderFi, the Canadian company that owned Coinsquare, Bitbuy and Bitcoin.ca, was acquired by Robinhood. The deal closed on June 1, 2026 at C$0.36 cash per share, about C$250M in equity value. Robinhood launched crypto trading in Canada on July 1, 2026, and press reports at the time said the Coinsquare and Bitbuy websites were directing users to the Robinhood app.
Some people read that as "Coinsquare left Canada." It did not. The FINTRAC registry shows two older Coinsquare entities as ceased, and both sites now carry Robinhood banners, which is probably where the idea comes from. But the dealer that actually holds customer accounts, CCML, is still on the CSA list and on CIRO's membership list. What is ending is the Coinsquare brand and app, not the regulated entity behind it.
Coinsquare And Robinhood Timeline
| Date | Event |
|---|---|
| 2022-11-19 | Coinsquare discloses a customer data incident (details below) |
| 2025-05-13 | Robinhood announces an agreement to acquire WonderFi (from press coverage) |
| Late May 2026 | Final regulatory clearance reported by the press |
| 2026-06-01 | Robinhood completes the WonderFi acquisition |
| June 2026 | Phased migration of Coinsquare customers to the Robinhood app begins |
| 2026-07-01 | Robinhood crypto trading launches in Canada |
Is Coinsquare Safe?
On regulation, yes. CCML is a CIRO-regulated investment dealer and a CSA-authorized platform, so it sits in the same group as NDAX, Newton and Wealthsimple Crypto. Customer cash is covered by CIPF up to CAD 1M. Crypto is not covered by CIPF, which Coinsquare says is the same on every regulated Canadian crypto platform. Assets are held with external custodians, Coinbase Custody and BitGo Trust Company, and Coinsquare cites a combined USD 680M in insurance for them. That figure is Coinsquare's own, and we have not verified it independently.
The weak point in its history is the data breach.
The 2022 Data Breach
On November 19, 2022, Coinsquare disclosed a data incident, and it emailed customers on November 26, 2022. An unauthorized party accessed a customer database. The exposed information included names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history and account balances. Passwords and funds were not affected, and Coinsquare said it had no evidence the data was viewed. The number of customers affected was not disclosed.
If you have been a customer since before 2022, assume your personal details are in circulation and treat unexpected calls, texts and emails about your crypto with suspicion. Our guide to common crypto scams in Canada covers what those attempts look like.
How Much Does Coinsquare Charge?
We could not verify Coinsquare's own fee schedule on an official page, so we are not publishing a number for it. What we can verify is the post-migration price: Coinsquare's transition page says Robinhood will charge a flat 0.5% fee on CAD trades for the first few months after launch, with blockchain withdrawal fees still applying and no inactivity or account maintenance fees. Robinhood's own zero-fee promotion for Canada ended on September 30, 2026, according to its post on X. Check the fee screen in the app before every order, since a "first few months" rate is not permanent.
What Should Existing Coinsquare Users Do?
- Keep using Coinsquare as normal until you get your invitation. The official page says you will be told by email and in the app when it is your turn.
- Follow the invitation. You download Robinhood, enter your Coinsquare email and complete setup. After you switch, the Coinsquare app becomes read-only, so you can view history and download statements. Download your statements and tax records before the app is retired.
- Know what stays the same. Your account stays with CCML, and your crypto stays in the same custody arrangement. It is not moved to another custodian.
- Expect new deposit addresses. Robinhood issues new unique addresses per cryptocurrency. Addresses previously shown on Coinsquare will still be valid and credited.
- Know your exit. Before the transition, you can withdraw CAD balances and send crypto to an external wallet.
- Check for missing features. Coinsquare's site has advertised staking, but the Robinhood launch has no staking yet. It is described as a follow-up release.
No retirement date for the Coinsquare app has been published, and we found no official count of how many customers have migrated.
How Do You Withdraw Money From Coinsquare?
Before you migrate, you can withdraw CAD balances and send crypto to external wallets from the Coinsquare app. After migration the Coinsquare app is read-only, so withdrawals happen inside Robinhood. We could not verify withdrawal fees or limits for Coinsquare, so read the figures in the app before you send anything. If you plan to leave rather than switch, move your crypto to a wallet you control or to another regulated platform before your migration date. See the best crypto wallets for Canadians for self-custody options.
Which Exchange Is A Better Choice Than Coinsquare For New Users?
If you were about to open a Coinsquare account, choose a platform that is not in the middle of a migration. All of these are on the CSA list, and our ranking and scores apply to them.
| Exchange | Score | Canadian Status | Cost Example |
|---|---|---|---|
| Coinbase | 9.9 | CSA Restricted Dealer, all provinces | Spread plus a fee that varies by payment method |
| Kraken | 9.6 | CSA Restricted Dealer | Pro 0.40% / 0.80% at the base tier |
| Wealthsimple Crypto | 9.5 | CIRO dealer member | 0.5% baseline fee plus spread on market orders |
| Newton | 9.3 | CIRO dealer member | 1.00% to 1.15% on BTC, ETH and USDC |
| NDAX | 8.8 | CIRO dealer member | 0.20% flat |
See the full best crypto exchanges for Canadians ranking, or take the exchange quiz. The same logic applies to Bitbuy, which belongs to the same group and is going through the same move.
Coinbase: Best Overall Crypto Exchange In Canada
9.9/10Best for: anyone who would have opened a Coinsquare account today
- StatusCSA Restricted Dealer in all provinces and territories
- Coins200+ assets on the Canadian site
- FeesSpread plus a fee that varies by payment method
What Changed For Coinsquare In October 2026?
- Robinhood's zero-fee promotion for Canada ended, per its post on X.
- Robinhood launched crypto trading in Canada with 50+ coins.
- Robinhood completed its acquisition of WonderFi, the owner of Coinsquare.
- Phased migration of Coinsquare customers to the Robinhood app began.
Frequently Asked Questions
What Happened To Coinsquare?
Robinhood closed its acquisition of Coinsquare's parent, WonderFi, on June 1, 2026. Coinsquare customers are being moved in phases to the Robinhood app, and the Coinsquare app will be retired after everyone has switched. Coinsquare has not left Canada.
Is Coinsquare Still Operating In Canada?
Yes. Coinsquare Capital Markets Ltd. is still on the CSA's authorized list and CIRO's membership list and holds customer accounts. The Coinsquare app and brand are being phased out in favour of Robinhood.
Is Coinsquare Safe?
The dealer is regulated by CIRO and authorized by the CSA, and cash is covered by CIPF up to CAD 1M. Crypto is not covered by CIPF. Coinsquare disclosed a customer data breach in November 2022 that exposed personal details but, it said, not passwords or funds.
How Much Does Coinsquare Charge?
We could not verify Coinsquare's own fee schedule. After migration, Robinhood charges a flat 0.5% on CAD trades for the first few months after launch, plus blockchain withdrawal fees.
How Do I Withdraw Money From Coinsquare?
Before migration you can withdraw CAD balances and send crypto to external wallets from the Coinsquare app. After migration the Coinsquare app is read-only and withdrawals happen in Robinhood. Check fees and limits in the app first.
What Happened In The Coinsquare Data Breach?
Coinsquare disclosed the incident on November 19, 2022 and emailed customers on November 26. Names, contact details, dates of birth, device IDs, public wallet addresses, transaction history and balances were exposed. Passwords and funds were not affected.
Can I Still Open A Coinsquare Account?
No. Coinsquare no longer accepts new sign-ups. Existing customers are being moved to the Robinhood app after Robinhood bought WonderFi, Coinsquare's parent, on June 1, 2026. If you are starting out, Coinbase is my top pick for Canadians.
Does Coinsquare Report To The CRA?
Coinsquare's Canadian dealer is a CIRO investment dealer with Canadian reporting duties, but I have not verified what tax documents it issues. Export your transaction history and keep your own cost base records, since you must report each disposition yourself.
Which Crypto Platform Is Best For Canadians?
My ranking puts Coinbase first at 9.9, then BloFin, Kraken and Wealthsimple Crypto, but BloFin is offshore and not available to Canadians under its own terms. Registered picks are Coinbase, Kraken and Wealthsimple. See the best crypto exchanges page.