Kraken Exchange Review: Analysis, Pros & Cons

Key Advantages:

• Extensive range of trading pairs
• Margin trading with high leverage
• Long track record and established market reputation
• Strong security infrastructure
• Flexible verification and KYC process
• 24/7 instant withdrawals
• Segregated client accounts for extra asset protection
• Multiple order types and execution methods
• Narrow spreads
• Diverse trading platforms (MT4, MT5, web trader, multi-terminal)
• Support for automated trading and expert advisors
• “Infinite leverage” service for select traders
• Fully regulated (CySEC, FCA)

Disadvantages:

• Mandatory KYC for all users
• No website translation/localization
• High minimum deposit for Classic accounts

About Kraken

Kraken is a global crypto exchange trusted by both professional and beginner traders. Founded in July 2011 by Jesse Powell, headquartered in San Francisco, Kraken is widely recognized for large trading volumes and a positive industry reputation. Through acquisitions and service expansion, Kraken has strengthened its position in both US and European markets. It was also the first crypto exchange to pass a cryptographic audit, underscoring its focus on security.

Registration & Verification

To trade on Kraken, users must complete a simple registration and at least a basic verification. There are multiple KYC tiers with increasing withdrawal and trading privileges:

• Level 0: No verification. All deposits and withdrawals are blocked.
• Level 1: Access to crypto wallets and spot trading; requires full name, birth date, phone, country.
• Level 2: Enables fiat transactions and bank transfers; address verification required.
• Level 3: Higher withdrawal limits; tax identification number required.
• Level 4: Maximum account limits; manual review by compliance team.

Deposits & Withdrawals

• Bank transfer: Min $10, 0% deposit fee, 0–40% withdrawal fee.
• Visa/MasterCard: Min $3, 0% deposit (1% under $50), 0% withdrawal (or $5 under $500).
• Skrill: Min $10, 0% deposit/withdrawal (1% withdrawal under $20).
• Neteller: Min $10, $4 withdrawal fee.
• WebMoney, CashU, Yandex.Money: Min $1, 0% fees on deposits/withdrawals.

All deposit and withdrawal options are available 24/7. Kraken reimburses deposit fees for transfers over $300.

Account Types

Cent Account

• No minimum deposit
• Leverage up to 1:2000
• Floating spreads from 0.3 pips
• 34 FX pairs, 2 metals
• No trading commission
• Instant Execution
• Margin call/Stop out: 60%/30%

Mini Account

• No minimum deposit
• Leverage up to 1:2000
• Floating spreads from 0.3 pips
• 119 FX pairs, 2 metals
• No trading commission
• Instant/Market Execution
• Margin call/Stop out: 60%/30%

Classic Account

• Min deposit: $2000
• Leverage up to 1:2000
• Floating spreads from 0.1 pips
• 119 FX pairs, 2 metals
• No trading commission
• Instant/Market Execution
• Margin call/Stop out: 30%/10%

ECN Account

• Min deposit: $300
• Leverage up to 1:200
• Floating spreads from 0 pips
• 45 FX pairs
• $25 commission per $1M traded
• Market Execution
• Margin call/Stop out: 100%/50%

Margin Trading

Kraken enables margin trading with leverage up to 1:2000 for all account types. This allows traders to amplify positions and potential profits—while increasing risks. Margin trading is available on Cent, Mini, Classic, and ECN accounts.

Fees

Kraken’s commission system is volume-based—higher trading volumes unlock lower rates, encouraging active trading.

Trading Volume

Kraken is among the leading crypto exchanges by volume. Daily trading volumes exceed $250K, with the most popular pairs being:

• BTC/USD
• BTC/EUR
• ETH/USD
• ETH/EUR
• LTC/USD
• LTC/EUR

Trading Platforms

Kraken supports MT4, MT5, EXNESS Web-trader, and MultiTerminal. These platforms offer advanced analytics, automated trading, and seamless user experience across desktop and mobile. In 2016, a web version of MT4 was launched, enabling traders to use the terminal without additional software installation.

Security

• 2FA for all users
• Segregated accounts to safeguard client funds
• SSL certificates for secure data transmission
• Cold storage for crypto assets
• 24/7 instant withdrawals
• First crypto exchange to pass a cryptographic audit

Extra Services

• Education: Free webinars and resources in the “Investor School” section.
• VPS hosting: Free for traders depositing over $500, ensuring stable trading connectivity.
• Metal-currency accounts: Invest in diversified portfolios of precious metals (gold, silver, platinum, palladium) and major currencies (USD, EUR, GBP, JPY).

Conclusion

Kraken delivers robust security, regulatory compliance, and a wide asset selection. Its long-standing industry reputation and CySEC/FCA licenses inspire trust among professionals and beginners alike. KYC and high minimums for some account types are drawbacks, but for security-conscious traders seeking a reliable, low-fee crypto exchange, Kraken is a top contender.