Not in Ontario. Hyperliquid's Terms of Use (last updated June 15, 2026) restrict anyone who lives in, is located in or is incorporated in Ontario (§1.6(a)); the other provinces and territories are not named. Lighter and Aster exclude all of Canada, and edgeX restricts Ontario.
Regulator: the CSA says “Platforms located outside of Canada that provide services to Canadians must also be registered in Canada.” None of the four venues is on its authorized list (updated September 18, 2026).
Stocks and commodities: the trade.xyz markets on Hyperliquid exclude all of Canada (why).
Terms re-read October 20, 2026.
Who this is for: residents of Canadian provinces and territories other than Ontario, connecting from outside Ontario and the US, and not trading for a company incorporated in Ontario. Hyperliquid only: its stock and commodity markets deployed by trade.xyz exclude Canada.
Trading on Hyperliquid needs an account, and the referral code has to be in place before you trade: open the join link in the browser you will trade in, then make your first deposit and Enable Trading there. A code can no longer be added once an account has more than $10,000 of trading volume.
Canada is the only country Hyperliquid splits in two. §1.6(a) of the Terms restricts “persons or entities who reside in, are located in, are incorporated in, or have a registered office in the United States of America or Ontario, Canada”. The clause names a province, not the country, so British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, the Atlantic provinces and the territories are outside it.
The test is the same four hooks as for the US: residence, physical location, incorporation and registered office. That has consequences for people who move between provinces, and for anyone who trades through a company. Because Hyperliquid's eligibility decisions are final (§6.1), an Ontario connection or an Ontario address on record is a problem even if you think of yourself as living elsewhere.
2. Common situations
Situation
Under §1.6
Why
You live in Vancouver, Calgary, Halifax or Montreal and trade from home
Not named in §1.6
Provincial securities law still applies to you; see the CSA position below.
You live in Toronto or Ottawa
Restricted
§1.6(a) names “Ontario, Canada”: residence alone is enough.
You live in Winnipeg and are on a work trip to Toronto
Restricted while there
You are “located in” Ontario for as long as you are there.
You live in Ottawa and commute to Gatineau, Quebec
Restricted
You still reside in Ontario wherever you connect from.
Your holding company is incorporated in Ontario but you live in BC
Restricted for the company
“Incorporated in … Ontario” covers the entity, wherever its owner lives.
You are a Canadian living in the US
Restricted
The United States is named in the same clause.
Our reading of the clause; Hyperliquid decides eligibility. When in doubt, treat yourself as restricted.
3. Hyperliquid, Lighter, Aster and edgeX in Canada
Canada under each venue's own Terms
Where you are
HyperliquidTerms of Use, June 15, 2026
LighterTerms of Service, December 29, 2025
AsterTerms and Conditions, February 25, 2026
edgeXTerms of Use, March 24, 2026
Ontario
Restricted (§1.6(a))
Restricted, all of Canada (notice, Access (b))
Restricted, all of Canada (§2.1(c))
Restricted (§1.5)
Rest of Canada
Not named
Restricted, all of Canada (notice, Access (b))
Restricted, all of Canada (§2.1(c))
Not named
Clauses: Hyperliquid §1.6, Lighter's Prohibited Person (b) clause under “Access and Restrictions”, Aster §2.1(c), edgeX §1.5; all four Terms re-read on October 20, 2026. “Not named” only means the place is not on that venue's list. It is not a licence and says nothing about local law. edgeX's separate Airdrop Programme Terms exclude the US, all of Canada, Iran, North Korea, Russia, Myanmar, occupied parts of Ukraine, Cuba, Yemen, Sudan, South Sudan, Libya, Lebanon and Syria.
For a reader in Vancouver or Calgary this leaves two of the four venues: Hyperliquid and edgeX (whose airdrop is closed to all Canadians). Lighter's Prohibited Person clause and Aster's §2.1(c) both name “Canada”, with no provincial distinction, so they are out for everyone in the country.
4. What the CSA and the OSC say
Crypto trading in Canada is regulated province by province, coordinated by the Canadian Securities Administrators. Their public position on foreign platforms is short:
“Platforms located outside of Canada that provide services to Canadians must also be registered in Canada.”
CSA, “Crypto platforms: regulation and enforcement actions”. securities-administrators.ca (read October 15, 2026).
Authorized list: the CSA's list of crypto trading platforms authorized to do business with Canadians was last updated September 18, 2026; none of Hyperliquid, Lighter, Aster or edgeX is on it.
Banned list: the CSA's list of banned platforms (last updated October 23, 2025) has 6 entries, several from Ontario Securities Commission decisions; none of the four venues is on it.
OSC warnings: no OSC investor warning names Hyperliquid, Lighter, Aster or edgeX (searched October 15, 2026).
Guidance: CSA Staff Notice 21-327 (January 16, 2020) explains when platforms that facilitate crypto trading fall under securities law.
So outside Ontario the picture is: the venue's contract does not exclude you, but the venue is not registered in Canada, and Canadian investor protection does not reach it. If you want a registered platform, the CSA list is the place to start.
5. Stock and commodity perps (trade.xyz)
Hyperliquid also lists markets created by other firms under HIP-3. The largest set, the stock, index and commodity perps (shown as xyz: markets), is deployed by trade.xyz, and its Terms exclude the US, Canada, the UK and sanctioned territories (Japan not named; the operator may add jurisdictions). A reader in Alberta who is eligible for Hyperliquid's main crypto perps is therefore still excluded from those markets by trade.xyz's own Terms. We do not link Canadian readers to them.
6. What the app does for Canadian connections
Not tested. We have not connected from Canada, so we do not know whether the app's legalCheck treats Ontario connections differently from the rest of the country. If you see “Not available in your jurisdiction”, the app thinks your connection comes from a restricted region; for an Ontario resident that is the intended result. Using a VPN or proxy to change it breaches §3.1.5.
7. Funding an account from outside Ontario
Hyperliquid takes deposits in USDC. A common route for an eligible reader in another province:
Buy USDC on a platform that is on the CSA's authorized list.
Withdraw it to a self-custody wallet on Arbitrum (check the network before you send).
Open Hyperliquid, connect that wallet and deposit at least 5 USDC through the bridge; on this wallet route, smaller deposits are lost.
Who this is for: residents of Canadian provinces and territories other than Ontario, connecting from outside Ontario and the US, and not trading for a company incorporated in Ontario. Hyperliquid only: its stock and commodity markets deployed by trade.xyz exclude Canada.
Outside Ontario? Open the account before you deposit
Trading on Hyperliquid needs an account, and the referral code has to be in place before you trade: open the join link in the browser you will trade in, then make your first deposit and Enable Trading there. A code can no longer be added once an account has more than $10,000 of trading volume.
Partly. Hyperliquid's Terms of Use (last updated June 15, 2026, re-read October 20, 2026) restrict only Ontario: anyone who resides in, is located in, is incorporated in or has a registered office in Ontario is a Restricted Person under §1.6(a). The other provinces and territories are not named, but Hyperliquid is not registered with any Canadian regulator.
Can I use Hyperliquid in British Columbia, Alberta or Quebec?
The Terms do not exclude residents of BC, Alberta, Quebec or any province other than Ontario. That is not an approval: the Canadian Securities Administrators say platforms outside Canada that serve Canadians must also be registered in Canada, and Hyperliquid is not on the CSA list of authorized crypto trading platforms. Whether that affects you is a question for your provincial regulator or a lawyer.
Why is Ontario restricted but not the rest of Canada?
The Terms give no reason and Hyperliquid has not published one. What is on the record: several entries on the CSA banned list, such as KuCoin and Poloniex, come from Ontario Securities Commission decisions. Do not read the silence about other provinces as approval.
Is Lighter or Aster available in Canada?
No. Both name Canada as a whole in their Terms, so every province is excluded, not only Ontario.
Can Canadians outside Ontario use edgeX?
For trading, edgeX's Terms §1.5 restrict only Ontario among Canadian provinces. Its separate Airdrop Programme Terms exclude all of Canada, so Canadians cannot receive edgeX airdrop tokens.
Can Canadians trade the stock and commodity perps on Hyperliquid?
Most of those markets are deployed by trade.xyz, whose own Terms (§2.2(a), last updated September 6, 2026) exclude persons resident in or subject to the laws of Canada. We do not point Canadian readers to them.
Is Hyperliquid on the CSA banned list?
No. The CSA banned list (last updated October 23, 2025) does not name Hyperliquid, Lighter, Aster or edgeX, and the OSC investor warnings search showed no entry for them. Not being banned is not the same as being registered: none of the four is on the CSA list of authorized platforms (last updated September 18, 2026).
Who this is for: residents of Canadian provinces and territories other than Ontario, connecting from outside Ontario and the US, and not trading for a company incorporated in Ontario. Hyperliquid only: its stock and commodity markets deployed by trade.xyz exclude Canada.
Trading on Hyperliquid needs an account, and the referral code has to be in place before you trade: open the join link in the browser you will trade in, then make your first deposit and Enable Trading there. A code can no longer be added once an account has more than $10,000 of trading volume.
Disclosure: HOLYGRAIL is our Hyperliquid referral code; we earn a share of the fees of accounts that join with it, and it never raises yours. We have no referral relationship with trade.xyz, and this page links no other venue's code. Hyperliquid's Terms (last updated June 15, 2026) and the Lighter, Aster, edgeX and trade.xyz Terms were re-read October 20, 2026; the CSA lists, CSA Staff Notice 21-327 and the OSC warnings search were read October 15, 2026. This is not legal or tax advice; your provincial securities regulator is the authority on what applies to you.