Kraken Review 2026
Pros
- Low exchange fees on Kraken Pro
- 3D secure required
- Crypto staking with HYPE staking added, providing up to 2.2% APY, letting users earn with no lock-up requirements
- Kraken, via Payward, secured VARA authorization in the UAE, so it can offer local clients Dirham funding and trading pair
Cons
- Does not accept fiat deposits
- Low leverage on spot trading
- Slow verification times
- Insider data breach and extortion incident affecting customer data in April 2026
- Does not support many newer altcoins
- Slow verification process on Pro account
Kraken Review
Kraken is a top-rated cryptocurrency trading platform. In fact, it is among the largest digital currency exchanges globally by trading volume. This 2026 review covers supported crypto coins, trading terminals, withdrawal fees, and more, based on our hands-on tests.
Kraken Headlines
Kraken is a San Francisco-based cryptocurrency exchange. Its origin dates back to 2011 when CEO and founder, Jesse Powell, visited the offices of Mt. Gox, a crypto exchange company. Mt. Gox suffered a major security breach and was hacked losing millions in client funds. This experience motivated Powell to build a crypto investing platform that was organized, secure, and trusted by customers. Eventually, Kraken was established in 2011.
The company currently serves over 15 million traders and is looking to launch an initial public offering (IPO) in the future. Its straight-talking trading platform essentially allows participants to buy and sell cryptos with various fiat currencies.
Kraken also added xStocks, connecting users with tokenized stocks, and pre-IPO perpetual futures, starting with the SpaceX/SPCX, though it’s not available to users in some regions, such as the US, Canada, Australia, and UK.
Trading Platforms
Kraken Terminal
The Kraken Terminal is a professional charting and trading interface, which is free and available to all clients.
The platform offers:
- Order book and depth chart which visualizes market sentiment i.e. volume of orders with bids and asks
- Toolbar with markets menu, time period selector, analysis, and drawing tools
- History scrollbar which scans through the current asset’s price history
- The trading form allows users to submit orders from the terminal
- A watchlist that displays selected financial markets
- Indicator panels i.e, volume and MACD
- Real-time customizable charts
Tokens & Coins
The exchange allows you to trade more than 65 cryptocurrencies and 7 different fiat currencies, with plans to add new coins in the future. Kraken offers popular cryptos such as Bitcoin, Ethereum, Tether, Ripple, Monero, and Dogecoin. Users can trade with a variety of fiat-to-crypto pairs, including USD, EUR, CAD, JPY, GBP, CHF, and AUD.
Clients can also trade on a selection of crypto futures and indices that track the overall direction of the digital currency market. These are good options for investors looking to minimize the risk of one crypto falling in value.
Spreads & Commissions
Kraken offers some of the most competitive fees in the crypto market. Fees on Kraken Pro range from 0% to 0.26% vs Coinbase, which goes up to 1.49%. The broker uses a taker/maker fee schedule, where the rate decreases as your 30-day volume increases, incentivizing market liquidity.
On the Kraken Exchange, you pay a 0.9% fee for stablecoins, and 1.5% for FX pairs or on any other crypto. Traders are also required to pay 3.75% + 0.25 EUR for card processing or 0.5% for online banking. Fees are also charged on other deposits and withdrawals depending on the method and country you reside in. Generally, funding prices are cheaper with cryptocurrencies.
Kraken does not charge any fees for transferring funds with a futures wallet, staking, storing funds, account inactivity, or account maintenance.
Leverage
Leverage limits differ across spot transactions and margin and futures investing. Kraken currently has up to 5x leverage on spot trading, depending on the currency.
For example, Bitcoin vs US Dollar has a 5x maximum leverage, while Monero vs Euro has a 2x leverage limit. The conservative leverage limit comes from the high degree of risk when spot investing in cryptos. On the other hand, futures offer 50x leverage across most contracts.
Mobile Apps
Kraken offers two proprietary mobile apps, which serve different purposes. A third option used to be available, Kraken Futures. However, it was discontinued on the 27th of January 2022. Investors must now use the official website to trade futures.
Kraken App
The beginner-friendly app allows users to buy, sell and convert crypto. You can set up and login with two-factor authentication (2FA) to monitor prices, track portfolios, save favorite cryptos, make credit and debit card purchases, plus initiate fiat withdrawals.
The app is accessible everywhere excluding Crimea, Donetsk, Luhansk, Cuba, Iran, Japan, North Korea, and Syria. You can get it on Android 8.0 and up and iOS 13 and up.
Kraken Pro
Kraken Pro provides a professional trading experience, which enables clients to place advanced orders on the go. The application offers margin trading with up to 5x leverage, candlestick price charts, crypto staking, plus order book display options. On the downside, funding is not available on the app, and can only be done through the website. 2FA does not work on the application and instead connects to your trading account using an API key.
Kraken Pro is available on Android 7.0 and up and iOS 11 and up.
Payment Methods
Deposits and withdrawals can be done with cryptos or fiat currencies. Crypto funding methods include Bitcoin, Ethereum, Litecoin, Ripple, and Tether. Credit cards can be used to buy cryptos at the Express, Intermediate, or Pro levels. Transactions have a 7-day card limit of €7,500.
Minimum orders, deposits, and withdrawals also depend on the token. The most current information on minimums can be found on the Kraken website.
Once you’ve completed the verification process, depositing and withdrawing from your account is simple:
- Head to your client area under ‘Funding’, where all limits are displayed
- Select ‘Deposit’ on the respective fiat or crypto
- For fiat currencies, select the preferred deposit method and follow the banking instructions
- For cryptos, connect to your e-wallet via the ‘deposit address’ and confirm the transaction
- Check your account balance status to ensure funds have been approved
- To withdraw earnings, select ‘Withdraw’ on the respective fiat or crypto
- For fiat currencies, select the withdrawal method, input your bank details and amount
- For cryptos, input your details and crypto address found in your e-wallet
Demo Account
The exchange doesn’t offer a demo account that you can use to test the general functionality of the platform.
However, there is an option for futures trading. To activate the free paper trading account all you need to do is to sign up in your futures dashboard and transfer the virtual funds from the holding wallet to the trading wallet.
Bonuses & Promotions
In order to comply with regulations, the exchange doesn’t offer any bonuses. However, if trading volumes exceeds $50,000 in 30 days, then investors can receive lower fees of 0.14% maker and 0.24% taker. The broker also runs referral promotions – see the website for the latest details.
Regulation & Licensing
Kraken is licensed and regulated in various jurisdictions where it operates, such as the USA (FinCEN), Canada (FINTRAC), UK (FCA), Australia (AUSTRAC),
Client funds are held directly by users in their bank accounts at Kraken partners that are heavily regulated. The Kraken Bank itself is licensed by the Wyoming division of banking. In March 2026, Kraken also became the first digital asset bank in the US to be approved for a Federal Reserve master account by the Federal Reserve Bank of Kansas City.
That said, Kraken doesn’t have a spotless record. For example, in 2024, the Federal Court of Australia fined Kraken A$8 million for unlawfully issuing a margin extension credit facility to retail customers. In 2023, Kraken also agreed to pay a $30 million penalty and shut its crypto staking service in the US.
Additional Features
As well as basic OTC trading, Kraken also offers futures products and leverage to multiply profits while trading on Bitcoin, for example. Margin allows experienced traders to maximize gains from market swings with 5 times the earning potential vs regular spot trades.
Kraken also allows you to earn rewards by staking crypto and fiat currencies. This means users can stake assets on the blockchain i.e. ETH staking or via off-chain staking through Kraken’s internal programs. In addition, the broker offers up to 23% yield APY per year on certain cryptocurrencies.
Account Types
Traders need to create an account and get verified to be able to deposit and withdraw funds. Each verification level is linked to an account type. The accounts available are Starter, Express, Intermediate, and Pro, though the Express account is only available in the US.
Each verification level has different funding options and deposit/withdrawal limits. For example, the Pro account has a maximum withdrawal of $100,000,000 over a period of 30 days.
Each account requires different types of documentation with varying verification times. For example, the Starter account only requires simple personal information, which takes 1 to 2 minutes. The Pro account requires financial information and KYC verification, which can take a few days to be approved.
Trading Hours
Since cryptocurrencies are traded 24/7, the platform is available for clients to use at any time. Furthermore, some customer service contact details are also 24/7. An example is the live chatbot or the regional phone numbers provided on the official website.
Customer Support
As outlined above, customer support is available around the clock and the team is able to help with any issues you encounter such as 2FA not working, login problems, or even with help to delete your account. Should you require assistance, you can notify Kraken’s support team via:
- Live chat – chatbot on the website
- Email – Submit a request form via the support center
- Phone – 24/7 numbers provided in English, Spanish, and French on the official website
Kraken mainly advises users to search for an article related to the query on the support center.
The broker’s US headquarters were moved from San Francisco to Wyoming in 2025.
Note that the support team isn’t able to offer any tax help – you may want to consider reaching out to your official tax institution. For example, in the UK this is HMRC.
Security
Kraken hasn’t been hacked and follows industry-leading safety measures. 95% of all deposits are kept in cold storage, which ensures full reserves so that users can deposit and withdraw on demand. Client information is encrypted at the system and data level, with 24/7 surveillance. Kraken also enables 2FA, 3D secure payments, SSL encryption, email confirmation for withdrawals, plus API keys.
Proof Of Reserves
Kraken is a step ahead of some of its competitors when it comes to proof of reserves. It was the first crypto exchange to offer a proof of reserves cryptographic audit. The exchange implements an audit process to prove to customers that client funds are properly held. The advanced accounting practice is conducted twice per year by trusted auditors.
The audit process involves an anonymous snapshot of all account balances held, segregating them into a Merkle-tree data structure.
Proof of reserve audits mean clients have access to balance verification at the time of audit processing. The process is relatively simple and means you can keep an eye on your assets.
To run a check:
- Log in to your Kraken account with your registered credentials
- Navigate to your account settings (Settings > Account)
- Select the ‘Audits’ tab
- Your profile will indicate recent audits that your asset balance was included in, along with the audit date, an ID, the style of evaluation and the company that organized it
- Copy the ‘Record ID’ related to your account and the specified audit
- Visit the website of the third-party auditor responsible for the proof of reserves audit
- Enter your ‘Record ID’ into the auditor’s portal
- Verify your balance at the time of the audit
Fund Safety
The Kraken platform has never been hacked in its nine-year history. Nonetheless, a $100 million fund is available for user compensation in the event of a hack or security breach, meaning you can make a withdrawal immediately.
Kraken Verdict
Kraken offers a good range of cryptocurrency assets, reliable trading apps, competitive fees, and strong user security. The exchange is also licensed and regulated by several reputable bodies. While Kraken could improve its verification times, it is still an excellent platform for crypto traders in 2026.
FAQ
Who Is Kraken Best For?
Kraken’s fees favor professional investors who trade in high volumes, with additional incentives when you reach a monthly trading volume of $50,000. Kraken also offers advanced features like margin trading, staking, and futures products. With that said, the exchange is still beginner-friendly, offering a simple UI and learning resources for new traders.
What Do I Need To Know As A UK Trader Using Kraken?
The UK is one of Kraken’s most active client bases for cryptocurrency investing and staking. However, under FCA regulation, retail traders are not eligible to trade on Kraken Futures. Clients can, however, buy, sell and hold cryptos for long-term investment purposes.
Why Is My Deposit Or Withdrawal On Hold At Kraken?
Your deposit may have been flagged for a few reasons. It may have been above the funding limit based on your verification level. There might also be a name mismatch on your Kraken and bank accounts. In addition, your bank may have asked to put the deposit on hold due to irregular activities. On withdrawals, you may encounter an invalid amount error if your account balance is below the requested amount. Speak to the broker’s customer support team to resolve any issues.
How Do I Set Up An Account With Kraken?
You can create an account on the Kraken website, using an email and password. You can only start trading and funding your account once you complete their verification process. Each verification level is associated with a particular account type: Starter, Express, Intermediate, and Pro. Each option has different deposit and withdrawal fees, funding options, and limits.
Can I Deposit Or Withdraw At Kraken Using Debit/Credit Cards?
Kraken does not typically accept cash, debit and credit cards, PayPal, or similar services for fiat currency deposits. This is because accepting cash makes it difficult to comply with financial regulations. With that said, cash and cards are accepted in CAD and the ‘Buy Crypto’ feature means you can purchase a range of cryptos with cards. Other regions can also use a bank card to purchase cryptocurrencies in order to make deposits.
Best Alternatives to Kraken
Compare Kraken with the best similar brokers that accept traders from your location.
- Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to over 170 markets across 40 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- NinjaTrader – NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand’s award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
Kraken Comparison Table
| Kraken | Interactive Brokers | NinjaTrader | |
|---|---|---|---|
| Rating | 3.9 | 4.3 | 4.5 |
| Markets | Cryptos, xStocks, Pre-IPO Perpetual Futures | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Futures, Forex, Stocks, Options, Commodities, Futures, Crypto (non-futures depend on provider) |
| Demo Account | Yes | Yes | Yes |
| Minimum Deposit | $10 | $0 | $0 (live trades must meet intraday margin minimums, e.g., $50 to trade micro contracts) |
| Minimum Trade | Variable | $100 | 0.01 Lots |
| Regulators | FINTRAC, AUSTRAC | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | NFA, CFTC, CySEC |
| Bonus | – | – | – |
| Platforms | AlgoTrader, Quantower | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | NinjaTrader Desktop, Web & Mobile, eSignal |
| Leverage | – | 1:50 (major forex pairs), 1:2-1:4 (equities) | $50 intraday margins for Micro contracts and $500 for popular E-mini contracts |
| Payment Methods | 6 | 5 | 4 |
| Visit | Visit | Visit | Visit |
| Review | – | Interactive Brokers Review |
NinjaTrader Review |
Compare Trading Instruments
Compare the markets and instruments offered by Kraken and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| Kraken | Interactive Brokers | NinjaTrader | |
|---|---|---|---|
| CFD | No | No | No |
| Forex | No | Yes | Yes |
| Stocks | No | Yes | Yes |
| Commodities | No | Yes | Yes |
| Oil | No | No | Yes |
| Gold | No | Yes | Yes |
| Copper | No | No | Yes |
| Silver | No | No | Yes |
| Corn | No | No | No |
| Crypto | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes |
| Options | No | Yes | Yes |
| ETFs | No | Yes | No |
| Bonds | No | Yes | No |
| Warrants | No | Yes | No |
| Spreadbetting | No | No | No |
| Volatility Index | No | No | No |
Kraken vs Other Brokers
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Customer Reviews
4.5 / 5This average customer rating is based on 2 Kraken customer reviews submitted by our visitors.
If you have traded with Kraken we would really like to know about your experience - please submit your own review. Thank you.
My experience with Kraken has been very positive. The platform is reliable, secure, and offers a wide range of cryptocurrencies for trading. Fees are reasonable, and the interface works well for both beginners and more experienced users. Customer support has also been helpful when needed.
Kraken is now my favourite app for buying, storing and trading crypto. I also have a Binance account but I way prefer Kraken. The fees for buying tokens are much lower and they have more niche ones. Like I joined them because they were the only app I could find with Trump’s coin when it first came out, although lol that’s turned out to be a bad investment. Still, I’ve used Kraken to buy some others since and really smooth experience with an app even my nan could use.