Kraken Review

Crypto traders seeking regulated exchange

FinCEN FCA CBI Wyoming Division of Banking SEC FINRA

Founded 2013 · United States

Why investors choose this broker

Regulated by FinCEN, FCA, and MiCA (Central Bank of Ireland)
600+ tradable crypto assets
Spot trading starts at 0.25% maker / 0.40% taker, falling to 0.00% maker / 0.05% taker at the highest volume tier
No inactivity fee

Review summary

Kraken is a US-based crypto exchange founded in 2013, offering spot trading across 600+ assets, futures, margin, staking, and tokenized equities via xStocks in eligible regions.

Pros

Regulated by FinCEN, FCA, and MiCA (Central Bank of Ireland)
600+ tradable crypto assets
Spot trading starts at 0.25% maker / 0.40% taker, falling to 0.00% maker / 0.05% taker at the highest volume tier
No inactivity fee
Futures trading with 0.02% maker / 0.05% taker base fee
Staking available with no transaction fee to stake or unstake
Up to 10x leverage on spot margin (selected assets), up to 50x on perpetual futures
Tokenized US stocks and ETFs available via xStocks in eligible regions

Cons

No demo account
Crypto withdrawal fees are dynamic and can rise with network congestion
Margin rollover fees (0.01%-0.05% per 4 hours) accumulate quickly on open positions
xStocks (tokenized stocks) not available in all jurisdictions
Standard Kraken platform has higher fees than Kraken Pro
Fiat deposit and withdrawal fees vary by method and can be significant for bank wire

Company background

Kraken is a cryptocurrency exchange operated by Payward Inc., which launched to the public in September 2013 in San Francisco, California. It is one of the longest-established crypto exchanges and has grown to serve users in over 190 countries, relocating its headquarters to Cheyenne, Wyoming in 2025. Kraken offers spot trading on 600+ crypto assets, perpetual and dated futures, spot margin, staking, and tokenized US stocks and ETFs through its xStocks product in eligible regions.

Kraken operates two primary interfaces: the standard Kraken platform for general users and Kraken Pro for active traders. In 2025 the company introduced Kraken Prime as an institutional solution combining trading, custody, and financing. Kraken Securities LLC provides stock trading services in the US as a registered broker-dealer.

Fees and pricing

Kraken uses a maker-taker fee model for spot trading. The base tier charges 0.25% maker and 0.40% taker, applying to users with up to $10,000 in 30-day volume. Fees decrease with volume, reaching 0% maker and 0.05% taker at the highest tier ($500,000,000+ in 30-day volume). Futures trading starts at 0.02% maker and 0.05% taker. Margin trading carries an opening fee of 0.01%-0.05% per pair, plus a rollover fee of the same range every 4 hours a position remains open.

Kraken charges no inactivity fee and no account fee. Crypto deposits are free. Crypto withdrawal fees are dynamic, reflecting current network conditions rather than a fixed Kraken charge. Staking and unstaking carry no transaction fee, though on-chain staking commissions are deducted from earned rewards. Fiat deposit and withdrawal fees vary by method and currency.

Regulation and safety

Kraken operates through multiple regulated entities. In the US, Payward Inc. is registered with FinCEN as a Money Services Business, Kraken Financial holds a Wyoming SPDI charter, and Kraken Securities LLC is registered with the SEC and is a member of FINRA. In the UK, Kraken is authorised by the FCA as an Electronic Money Institution and Crypto Facilities Limited is an FCA-authorised investment firm. In Europe, Payward Europe Solutions Limited holds a MiCA CASP licence from the Central Bank of Ireland, covering all 30 EEA countries.

Platform experience

The standard Kraken platform supports spot buying, staking, and recurring purchases via web and mobile. Kraken Pro offers customisable dashboards, advanced charting powered by TradingView, real-time order books, and access to spot, margin, and futures markets at lower fee rates. Both interfaces are available on web and through iOS and Android apps. Kraken does not offer a demo account. xStocks provides tokenized US stocks and ETFs in eligible regions, reflecting equity prices without direct share ownership.

Pros and cons

Kraken's main strengths are its multi-jurisdictional regulation, long operating history since 2013, wide crypto selection, tiered fee structure, futures and margin products, and fee-free staking transactions. The main drawbacks are the absence of a demo account, dynamic withdrawal fees that rise with network congestion, margin rollover fees that accumulate on open positions, and geographic restrictions on xStocks.

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Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

Spot trading starts at 0.25% maker and 0.40% taker, reducing with volume. There is no inactivity fee, no deposit fee for crypto, and no fixed Kraken fee for crypto withdrawals - withdrawal fees are dynamic and reflect current network costs.

Fees

Item	Fee
Crypto	Spot: 0.25% maker / 0.40% taker (base tier, reduces with 30-day volume); volume tiers reduce maker to 0% and taker to 0.05% at highest tier
Margin	Opening fee: 0.01% - 0.05% depending on pair; rollover fee: 0.01% - 0.05% per 4 hours the position remains open
Account	Free
Deposit	Crypto deposits: Free; fiat deposits vary by method and currency
Futures	0.02% maker / 0.05% taker (base tier, reduces with volume)
Staking	No transaction fee for staking or unstaking; on-chain staking commission deducted from rewards
Inactivity	Free
Withdrawal	Crypto withdrawals: dynamic network-based fee (no fixed Kraken fee); fiat withdrawals vary by method and currency

Trading platform & features

Platforms

Kraken
Kraken Pro
Web app
iOS app
Android app

Regulation and investor protection

Kraken operates through entities registered with FinCEN as a US Money Services Business, authorised by the FCA in the UK, licensed under MiCA by the Central Bank of Ireland covering all 30 EEA countries, and holding a Wyoming Special Purpose Depository Institution charter. Kraken Securities LLC is registered with the SEC and is a member of FINRA.

Broker FAQs

Is Kraken safe?

Kraken is regulated by FinCEN in the US, the FCA in the UK, the Central Bank of Ireland under MiCA for the EEA, and holds a Wyoming SPDI charter through Kraken Financial. The exchange has operated since 2013 and maintains a dedicated security team.

Is Kraken a scam?

No. Kraken is a regulated exchange registered with FinCEN, authorised by the FCA in the UK, and licensed under MiCA by the Central Bank of Ireland. It has operated continuously since 2013.

Is Kraken regulated and by whom?

Yes. Kraken entities are regulated by FinCEN (US MSB), the Wyoming Division of Banking (SPDI charter), the SEC and FINRA (Kraken Securities LLC), the FCA (UK), and the Central Bank of Ireland under MiCA for all 30 EEA countries.

Does Kraken keep client funds in segregated accounts?

Kraken states it holds client assets separately from company assets. As a Wyoming SPDI, Kraken Financial is required to maintain full reserves against customer deposits.

What happens to my money if Kraken goes bankrupt?

Crypto assets held on any exchange carry custodial risk. Kraken's Wyoming SPDI structure requires full reserve backing for customer deposits held under that entity. Users outside that entity's scope should review Kraken's terms for their jurisdiction.

What products does Kraken offer?

Kraken offers spot trading across 600+ crypto assets, perpetual and dated futures, spot margin trading with up to 10x leverage on selected assets, staking, and tokenized equities via xStocks in eligible regions.

Does Kraken offer futures trading?

Yes. Kraken offers perpetual and dated futures contracts on over 350 crypto assets with up to 50x leverage, charged at 0.02% maker and 0.05% taker at the base tier.

Does Kraken offer margin trading?

Yes. Kraken offers spot margin trading with up to 5x leverage. Opening and rollover fees range from 0.01% to 0.05% depending on the trading pair, with rollovers charged every 4 hours.

Does Kraken offer staking?

Yes. Kraken supports staking for multiple assets with no transaction fee to stake or unstake. On-chain staking commissions are deducted from earned rewards.

Does Kraken offer stocks?

Kraken offers xStocks, which are tokenized representations of US stocks and ETFs that reflect underlying equity prices. xStocks availability depends on the user's jurisdiction.

What does Kraken charge for spot crypto trading?

Spot trading starts at 0.25% maker and 0.40% taker at the base volume tier (up to $10,000 in 30-day volume). Fees decrease with higher volume, reaching 0% maker and 0.05% taker at the highest tier.

Is there a withdrawal fee at Kraken?

Kraken does not charge a fixed fee for crypto withdrawals. Withdrawal fees are dynamic and reflect current network transaction costs, which can vary with network congestion. Fiat withdrawal fees vary by method and currency.

Does Kraken charge an inactivity fee?

No. Kraken does not charge an inactivity fee or a fee for storing funds on the platform.

What are Kraken's futures trading fees?

Futures trading on Kraken starts at 0.02% for makers and 0.05% for takers at the base tier. Fees decrease as 30-day trading volume increases.

Does Kraken have a demo account?

No. Kraken does not offer a demo or paper trading account.

Does Kraken have a mobile app?

Yes. Kraken provides iOS and Android apps for both the standard platform and Kraken Pro.

Is Kraken good for beginners?

Kraken's standard platform supports simple spot purchases and recurring buys, which may suit beginners. However, the absence of a demo account and the complexity of margin and futures products means new users should start with spot trading only.

Is Kraken good for long-term investing?

Kraken supports long-term crypto holding and staking for passive rewards. The xStocks product adds tokenized equity exposure in eligible regions. However, Kraken is primarily designed as a trading platform rather than a custodial investment account.

Bottom line

Kraken suits users who want a regulated, long-established crypto exchange with a wide asset selection, tiered fees, futures, margin, and staking in one platform. It may not suit users who need a demo account, want simple fiat-to-equity investing, or require xStocks in jurisdictions where the product is unavailable.

Kraken

Crypto traders seeking regulated exchange

Open Account

Your capital is at risk. Other fees apply.