I agree. It makes day-trading a lot more risky. The more people day trading, the more fees can be collected by the exchange and they can make up the difference in volume. As mentioned by honeybadger, CaVertEx charges 3% on every trade (it reduces to 2.5% if you move 100 BTC within 120 days.) In this case, if I sell 1 BTC at $100 CAD, it becomes $97 CAD. If I wanted to buy back at a profit, I would have to wait for the price to drop back down to below $94. Sometimes it happens kinda fast but mostly it can take days or never at all. Is it worth the risk for the tiny increase in Bitcoin you'd get?

I've actually decided to discontinue my use of CaVertEx altogether because of the high fees. It's a simple matter for a Canadian to open a true US Bank account based in Florida. You can do this at any RBC branch. The flat fee to wire transfer money to the USA from Canada is usually around $55 but with an RBC USA account there is no fee at all. This opens up the door to getting money into and out of the system using other, less expensive ways. I am also going to move the BTC balance I have in my CaVertEx account into another exchange that has lower trading fees. It really doesn't matter so much if I am trading against the Canadian dollar or the American dollar or any other currency for that matter.

Canadians do have a choice and if the fees continue to be higher than other exchanges around the world CaVertEx will likely see more people like me deciding to take advantage of their other options.