coinsquare quick trade review

vs. the full coinsquare account

*Sadly, with the transition from the original Coinsquare platform to the new Coinsquare based upon the Quick Trade app, Coinsquare has discontinued their referral bonus program as of May 13, 2022. Details here.

Coinsquare Quick Trade vs. Coinsquare full account

Whether you choose Coinsquare's Quick Trade app or the full Coinsquare Account, you're joining one of the largest exchanges (if not, the largest) in Canada.

Which to choose?

The Quick Trade app offers commission-free trading which is becoming a common model for exchanges because it sounds attractive. However, it's just marketing and a shift in the fees from one place to another. With this model, they regain the lost commissions via a higher spread - which simply means that when you go to purchase coins, the price you pay for them will be slightly higher (and they keep that extra premium in place of the commission.)

With the full Coinsquare account, you pay a small commission, but the price of the coin will be cheaper.

Other differences are that the full Coinsquare account gives you access to a few more types of coins, some advanced trading features, like charts and limit orders. It also allows you to log in to your account via a web browser in addition to a smartphone/tablet app, whereas with Quick Trade, you are limited to access via the app.

In order to provide the extra features of the full account, they do have some withdrawal fees that would be free with the Quick Trade app. At the time of writing, the most notable was a 2% fee for withdrawing CAD (with Quick Trade it's free) and a fairly standard 0.0005 BTC fee for withdrawing Bitcoin (with Quick Trade it's 0.00025 BTC)

So which is better?

With the full Coinsquare account, you are getting the benefit of a very large exchange with many people on it trading a lot of volume - this essentially translates into being able to get coins for a very good price. So if you intend on buying regularly or buying/selling rather than buying once and holding, the full account could be advantageous despite the withdrawal fee you will eventually pay.

If you want to make a single purchase of some coins for the first time and won't be actively trading, want to get started quickly, and are okay using only a smartphone/tablet app, Quick Trade will fit the bill. But it might be a good idea to ALSO sign up for a full account as well because, in the long run, you'll be able to take advantage of the better prices for the coins you trade, access to more coins, more trading features, web browser access - and the full account offers that welcome gift of $10 in Bitcoin as a sign-up bonus that you can claim on our Coinsquare referral code page.

Coinquare Quick Trade News

Feburary 8, 2020: Coinsquare Quick Trade is launched! Canada's leading digital asset trading platform, has announced the launch of its new Quick Trade mobile app. The simple to use app makes buying and selling digital assets quick and convenient, with customers able to easily manage their portfolio of digital assets. The launch of Quick Trade represents a new standard for mobile trading, with commission-free transactions and competitive pricing for the most popular digital assets. The Quick Trade app - available in English and French - offers the following benefits and features:

  • Simplified KYC process - get verified to trade within seconds
  • Instant account funding via Interac e-Transfer
  • No-fee e-Transfer deposits and withdrawals
  • Commission free trades
  • Easy portfolio management
  • Swap between any two assets, with 15 pairings to start and many more to come
At launch, the Quick Trade app will offer Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP and Bitcoin Cash (BCH), with many more digital assets to be onboarded over the coming months. "We are thrilled to announce the release of Quick Trade. This is just the first of many exciting new announcements to come. Quick Trade's simple onboarding and easy-to-use interface offers Canadians a simple and secure way of investing in digital assets," said Stacey Hoisak, CEO of Coinsquare. "Our new Quick Trade app is part of our commitment to offer Canadians the most user-friendly, comprehensive and secure investing experience."

In other news, Coinsquare recently announced new appointments to its board and executive team. The newly appointed directors and executive team have extensive backgrounds in Canadian securities regulation, investment dealer operations and regulated marketplaces.

Coinsquare Capital Markets Ltd. (CCML) also recently submitted a dealer membership application to the Investment Industry Regulatory Organization of Canada (IIROC) and an application to the Ontario Securities Commission (OSC) to operate a regulated marketplace for digital assets. The proposed marketplace will provide automated trading systems bringing together institutional and retail orders from buyers and sellers of digital assets deemed securities under the Ontario Securities Act.