How to Trade on Ndax: A Step-by-Step Guide for Beginners

Getting started with crypto in Canada is simple with Ndax. This guide walks you through the essentials, funding your account in CAD, understanding the order book, and placing Market, Limit, and Stop orders on the Buy and Sell side. Whether you’re making your first purchase or refining your execution, you’ll learn how each order type works, when to use it, and how to manage open orders confidently.

Create & verify your Ndax account

• Sign up and complete identity verification as prompted in-app.

Add funds (CAD)

• You can fund your Ndax account from Wallet → Receive → Interac e-Transfer.
• Follow the on-screen instructions to send your e-Transfer.
• Important: Include the unique message code shown to you. This code links your e-Transfer to your Ndax account and helps avoid delays.

Once funded, go to Trade to access the trading dashboard. 

The Order Book (why it matters)

The Order Book shows active Buy and Sell orders from all traders:

• Sell (Ask) orders appear in red (what sellers are asking).
  • The top red row is the lowest ask, the best price available to buy right now.
• Buy (Bid) orders appear in green (what buyers are bidding).
  • The top green row is the highest bid, the best price available to sell right now.
• You’ll see Price, Quantity, and a Cumulative Total (running total across rows).

Understanding where the best bid and best ask sit helps you predict how your market order will execute. 

Market Orders (Buy & Sell)

Use when: looking for an instant execution at or around the current market price.

Buy (Market)

1. Go to Trade and choose your crypto asset.
2. Select Buy → Market.
3. Enter Order Size (number of units) or Order Value (CAD value). The other fields auto-fill.
4. Review the estimate (includes fees and total).
5. Click Place Buy Order to execute immediately against the best available Sell orders.

Sell (Market)

• Select Sell → Market.
• Enter Order Size or Order Value, or use the % slider (e.g., 50%).
• Review and click Place Sell Order to execute immediately into the best available Buy orders. 

Tip: Market orders prioritize speed, not price. In fast markets, the final fill price can differ from the preview (slippage). 

Limit Orders (Buy & Sell)

Use when: You want a specific price and are willing to wait. 

Buy (Limit)

1. Select Buy → Limit.
2. Set Limit Price, a price at which you want to execute your order.
3. Enter Order Size (number of units) or Order Value, the other fields auto-fill.
4. Click Place Buy Order. Your order appears in Open Orders and on the Order Book.
5. It fills only when the market reaches your price (and there’s enough liquidity), or remains open until executed or canceled (click the X in Open Orders).

Sell (Limit)

1. Select Sell → Limit.
2. Set Limit Price.
3. Choose Order Size (e.g., use the 100% slider to sell all).
4. Place the order; it sits on the Sell side until filled or canceled.

Tip: If your Limit order isn’t filling, your price may be too far from the current market. Consider adjusting closer to the best bid/ask. Limit orders carry the risk of remaining partially filled if only the limited number of crypto asset units available at predetermined price or unfilled if the market price never reaches the specified level. 

Stop Orders (Stop-Market: Buy & Sell)

Use when: You want an order to trigger only if price crosses a specific threshold.

• Stop-Buy (Breakout Entry): A stop buy order may be used to buy a crypto asset once its price rises to a specified level, triggering the order. It's often used to enter a trade when momentum is upward.
  • When the price reaches a predetermined level, a Market Buy order is triggered for your size.
• Stop-Sell (Stop-Loss): A stop sell order is a type of order used to automatically sell a crypto asset once its price drops to a specified level. When the stop price is reached, the order becomes a market order and executes at the best available price.
  • When the price falls to a predetermined level, a market sell order is triggered for your specified size

Steps

1. Choose Stop and then Buy or Sell.
2. Enter Stop Price and Order Size/Value (or slider).
3. Click Place Order. It stays active until executed or canceled.

Important: Because Stop orders become Market orders when triggered, the final execution price may vary depending on market liquidity at that time. 

You can manage your orders on Ndax by viewing and tracking any active Limit or Stop orders in the Open Orders section, where you can also cancel them by clicking the X. To review past transactions, including filled orders and fees, visit the Order History or Trade History section. 

• Start small: Practice with modest amounts to learn fills and fees.
• Double-check units: Confirm Order Size (number of coins) vs. Order Value (CAD).
• Watch liquidity: Thin order books can increase slippage.
• Use Stops for risk: A Stop-Sell can help limit losses on long positions.
• Be patient with Limits: Not filling immediately is normal; you’re waiting for your price.
• Keep security tight: Enable 2FA and follow account security tips. 

What’s the difference between Order Size and Order Value?

• Order Size = the amount of crypto asset units traded.
• Order Value = the amount in CAD you’re spending or receiving.

Why didn’t my Limit order fill or only got partially filled?

• The market hasn’t reached your price or there wasn’t enough quantity at that price. Consider modifying or waiting.
• There was a limit number of units of the traded crypto asset available at predetermined price levels resulting in a partial fill.  

Can I short on Ndax?

• Shorting isn’t supported on Ndax. You can buy, sell, and use Limit and Stop orders for risk management.