Is VirgoCX safe? Its registration status in 2026
Updated November 2026. Checked against the regulators' registers and each platform's own pages.
Who pays us: VirgoCX doesn't pay us. We have no affiliate or referral deals in place yet. How we make money
The verdict
✗ Not registered in Canada
VirgoCX isn't on the current register of crypto platforms authorized to serve Canadians. It was a restricted dealer, and the regulators now list it as not currently registered, with its last decision dated 30 January 2025.
- On the current register
- No
- Company
- VirgoCX Inc., Toronto
- Prior registration
- Restricted dealer
- Last decision
- 30 January 2025
- CIRO member
- No
Good
- Was registered as a restricted dealer in every province and territory until at least January 2025
Bad
- Listed by the regulators as not currently registered
- Never completed CIRO membership, the step to investment dealer status
- Its own website blocked our check, so we couldn't confirm what it offers today
Registered alternatives to VirgoCX
VirgoCX is no longer on the register. These three platforms are, each picked for a different reason. See all 12 ranked
NDAX 9.3Strong A flat 0.20% on every trade at the order book price, with no spread on top. Investment dealer and CIRO member.
Opens the official NDAX site · Crypto is high risk
Wealthsimple 8.6Strong Crypto in the same app as your Wealthsimple accounts, with limit orders at a stated 0.5% and no spread.
Opens the official Wealthsimple site · Crypto is high risk
Shakepay 8.1Strong Bitcoin, Ethereum and USDC only, with no fee on Interac deposits or withdrawals from $5 to $10,000.
Opens the official Shakepay site · Crypto is high risk
VirgoCX is a Toronto crypto platform run by VirgoCX Inc. For a few years it was one of the registered platforms. It isn’t now. This page sets out what each source says and where the gaps are.
What the register says
Crypto platforms that hold coins for Canadians have to be registered with the securities regulators. The New Brunswick regulator publishes a copy of the national list. On 10 November 2026, VirgoCX sat in its table headed “Platforms Not Currently Registered”. Its prior category is given as “Restricted Dealer (Dealer)” and its date as 30 January 2025.
The regulator gives three possible reasons a platform lands in that table. A promise to register expired before registration was granted, its exemptions expired and weren’t renewed, or its registration was suspended or surrendered. The list doesn’t say which one applies to VirgoCX, so we can’t tell you whether it lapsed, expired or was surrendered.
You can see the full register on our registered list.
What the January 2025 decision says
The 30 January 2025 decision was made by the Ontario Securities Commission on behalf of regulators across Canada. Saskatchewan’s regulator publishes a copy. It tells the story up to that date.
- VirgoCX Inc. was “registered in the category of restricted dealer in all provinces and territories of Canada”.
- Its earlier exemptions, first granted on 30 May 2022, were due to expire on 31 January 2025.
- To keep going, it had to apply to become an investment dealer and a member of CIRO, the Canadian Investment Regulatory Organization.
- It first applied to CIRO in May 2023 and sent amended applications in December 2023 and October 2024.
- On 22 November 2024, CIRO told it in writing of “certain deficiencies” that had to be fixed before the application could be accepted for review.
The regulators extended its exemptions so it could keep running its platform while it reapplied. That came with conditions. If it didn’t resubmit to CIRO by 28 February 2025, or if CIRO didn’t accept the new application, VirgoCX had to put in place business restrictions set by the Ontario regulator. The extension was to end after 12 months, or sooner if it became an investment dealer.
We found no public record that VirgoCX became a CIRO member or an investment dealer. It isn’t on the register as either.
What happened in April 2025
The Ontario regulator’s site lists a document titled “Terms and conditions” for VirgoCX, dated 4 April 2025. The site blocked our check, so we couldn’t read it. Search-engine excerpts of it mention placing existing client accounts in liquidating-trades-only mode, which means clients could sell but not buy. We haven’t been able to confirm that wording from the document itself.
Search results also show a VirgoCX notice from April 2025 saying it would wind down its custodial accounts and launch a non-custodial service, where clients keep crypto in their own wallets. We couldn’t open VirgoCX’s site to confirm this notice or its dates.
What VirgoCX’s own site says now
Nothing we could read. On 10 November 2026, virgocx.ca returned an access-denied error to our check. We didn’t try to get around it. So we can’t tell you what regulatory notice it shows today, whether it still takes Canadian sign-ups, or what it charges.
What we can say is that it isn’t on the register of platforms authorized to hold crypto for Canadians. If it still serves Canadians in any form, it isn’t doing so as a registered crypto trading platform.
Why registration matters
On a registered platform, a Canadian regulator sets rules on how your crypto is held and can step in if the firm breaks them. Without that, you’re relying on the company’s own promises. Registration doesn’t make crypto itself safe. Prices can still fall sharply.
If you want a platform that answers to Canadian regulators, our comparison of registered exchanges sets out the options side by side.
Frequently asked questions
Is VirgoCX legit?
VirgoCX Inc. is a real Toronto company and was a registered restricted dealer across Canada until at least January 2025. The regulators now list it as not currently registered.
Is VirgoCX safe?
It isn’t on the current register, so no Canadian regulator oversees how it would hold your crypto. If you still hold assets with it, contact VirgoCX directly about withdrawing them.
What are VirgoCX’s fees?
We couldn’t check. Its site blocked us, and we don’t copy fees from other review sites.
Is VirgoCX covered by CIPF?
CIPF protection is for clients of CIRO members. According to the January 2025 decision, VirgoCX was still applying to join CIRO, and we found no record that it ever did. Even at registered platforms, CIPF doesn’t cover crypto itself.
Sources
Checked 10 November 2026.
- New Brunswick Financial and Consumer Services Commission, registered crypto asset trading platforms: VirgoCX under “Platforms Not Currently Registered”, prior category “Restricted Dealer (Dealer)”, date 30 January 2025
- Financial and Consumer Affairs Authority of Saskatchewan, news, January 2025, and the decision in the matter of VirgoCX Inc., 30 January 2025: restricted dealer in all provinces and territories, CIRO deficiencies notice of 22 November 2024, conditions and 12-month expiry
- Ontario Securities Commission, terms and conditions for VirgoCX Inc., 4 April 2025: blocked our check, contents not confirmed
- VirgoCX, virgocx.ca: blocked our check on 10 November 2026
Update history
- First published.
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