Coinsquare Capital Markets Ltd.
Clients of the investment dealer operated by Coinsquare Capital Markets Ltd. (“Coinsquare”) pay the following fees:
On each request for quote made by a client in Coinsquare Trade, Coinsquare includes a disclosure of a “spread” ranging between 0.5% and 1.85%, barring adverse market conditions and/or liquidity not being readily available for a specific crypto asset pair in which case the spread may be increased up to an additional 2%. The spread is added to the best observed price at which Coinsquare can buy the crypto asset through its Liquidity Providers (third-party firms who do not provide quotes on a Canadian marketplace, but with which Coinsquare interacts to obtain liquidity), or subtracted from the best observed price at which it can sell the crypto asset through its Liquidity Providers. When the client accepts Coinsquare’s quote within ten (10) seconds of the quote being displayed to the client, Coinsquare completes the transaction as principal at the price quoted to the client. (However, the quote becomes stale and is replaced every ten (10) seconds until the client confirms it or decides not to trade at all.) No other transaction fees apply to such trades.
In times of extreme volatility, CCML reserves the right to not offer a quote. However, if in that instance a client emails email@example.com and states that they wish to execute a trade outside the 3.85% maximum spread, CCML compliance will consider approving the client’s written request.
Trades made through Coinsquare Pro are subject to transaction fees known as Maker and Taker fees. A “Maker” order is one that provides liquidity to the order book. A “Taker” order is typically immediately executed and removes liquidity from the order book.
Maker and Taker Fees are taken from the settlement amount of the trade. The applicable fee is calculated as a percentage of the total dollar amount of the trade, and the percentage that applies varies depending on the total dollar amount, as follows:
|Pricing Tier||Taker Fee||Maker Fee|
Coinsquare’s OTC services are used by institutional and high net-worth clients to execute orders that are generally larger than Coinsquare Trade orders and provide more personalized execution assistance and greater access to liquidity through designated representatives of Coinsquare. Coinsquare is the counterparty to each buy or sell OTC transaction initiated by a client. Coinsquare includes a spread in the quoted price to the client. The spread ranges between 0.5% and 1.85% of the best observed price at which Coinsquare can buy or sell the crypto asset through its Liquidity Providers, barring adverse market conditions and/or liquidity not being readily available for a specific crypto asset pairs, in which case spread may be increased up to an additional 2%. Clients may accept or reject any quoted price. No other transaction fees apply to such trades.
Coinsquare charges a mark-up spread of between 50 and 385 basis points from the offsetting prices that Coinsquare believes to be reasonable at the time of the transaction. The amount of the spread is based on a number of factors such as (1) the size of the client order, (2) price volatility, (3) available liquidity, and (4) price spread from the liquidity providers. For example, the Coinsquare mark-up spread might be larger for a large client order for a very volatile crypto asset with low liquidity and a wide price spread from the liquidity provider. Conversely, a small client order for a less volatile crypto asset with large liquidity and a tight spread would result in a tighter Coinsquare mark-up spread.
Deposit and Withdrawal Fees
Clients do not pay deposit fees for making fiat or crypto asset deposits.
Depending on the crypto asset and type of transfer, clients may be charged a fiat and crypto asset withdrawal fee. Such fees are disclosed to clients, both on the CCML website and when they request a withdrawal. The applicable fees for fiat and crypto asset withdrawals can be found here: https://coinsquare.com/fees/.
Foreign Exchange Fees
Coinsquare may apply a foreign exchange (“FX”) spread in a transaction if a customer deposits Canadian dollars and requests a purchase of a digital asset that trades in US dollars.
Last Updated: October 12, 2022