Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 220+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures. The exchange also supports crypto staking and has an interactive NFT marketplace.
Established in 2003, Cobra Trading is a US-based brokerage specializing in equities and options contracts. The firm offers 3 powerful platforms and is aimed at professional clients or those looking for retirement accounts. Cobra Trading is regulated by the NFA and SIPC and is a member of FINRA.
Bonus Offer
Lower fees when trading volume exceeds $50,000 in 30 days
Comment by Reviewer
"Kraken will suit traders looking for a diverse list of cryptos including Bitcoin and a good security track record."
"After exploring this popular US brokerage, I think experienced stock traders who can deposit at least $30,000 to open an account with appreciate the broker’s low trading fees of $0.0015 per share."
Pros
Very good security track record with no hacks in a decade since launch
Excellent range of 220+ more established cryptocurrencies
NFT marketplace and crypto staking available
Great trading platform and mobile app
Low exchange fees on Kraken Pro
50x leverage on futures trading
Low minimum deposit of $10
3D secure required
Mobile investing
Crypto staking
I’m happy with the broker’s regulatory status in the US, with oversight from reputable bodies including the SIPC, NFA and FINRA. This, coupled, with the broker’s strong reputation since 2003 is a great sign of a trustworthy firm
I think the choice of 3 platforms means all strategies and trading styles are catered to. All platforms offer comprehensive charting packages, with sophisticated analysis tools and advanced order types
I found some reasonably low fees at Cobra Trading, including shares from $0.0015, options from $0.30 and margin rates as low as 8%
Cobra Trading offers a good range of account types, including traditional and Roth IRA’s, plus joint, corporate and trust accounts
I like that Cobra Trading doesn’t enforce any minimums on trades and there are also no locate fees
Cons
Slow verification process on Pro account
Does not support many newer altcoins
Low leverage on spot trading
Does not accept fiat deposits
Slow verification times
Despite the low trading fees, this broker does charge several other platform and admin fees which will soon add up, including monthly software fees from $100 and market data packages from $18 per month
Unfortunately, Cobra Trading isn’t going to be suitable for novices, as the minimum deposit to open an account is $30,000. I think it’s a shame that there are no beginner-friendly accounts at this broker
I did find that pattern day trading (PDT) restrictions will apply, though this is expected from a US brokerage
Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin
Yes
Copy Trading
No
No
Social Trading
No
No
Trade Signals
Yes
VPS Hosting
No
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Islamic Account
No
No
Account Currencies
USD
EUR
GBP
CAD
AUD
JPY
CHF
Cryptocurrency
Kraken is a specialized crypto exchange and supports more than 220 cryptocurrencies. These include all of the established tokens like Bitcoin as well as some altcoins. Traders can make trades on spot crypto markets with up to 1:5 leverage or on futures with up to 1:50. Fees are low and the platform is super easy to pick up.
