Kraken Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- All popular cryptocurrencies and stablecoins, 7 fiats, large leverage, solid trading volumes. In addition to cryptocurrencies, there are indices and futures, but no investment programs.
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Proprietary platform
- All popular cryptocurrencies and stablecoins, 7 fiats, large leverage, solid trading volumes. In addition to cryptocurrencies, there are indices and futures, but no investment programs.
Our Evaluation of Kraken
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Kraken is one of the top cryptocurrency exchanges in the financial market with the TU Overall Score of 8.84 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Kraken clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
Kraken is a universal platform for margin trading in cryptocurrencies, stablecoins, indices, and futures. Large trading volumes and significant leverage, combined with a well-designed and functional interface of the trading terminal, ensure comfortable trading. Low commissions and many channels for deposits and withdrawals of funds make trading profitable here. The crypto exchange is suitable for beginners as it offers a wide range of tutorials.
Brief Look at Kraken
The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
- convenient, intuitive terminal with one-click trading;
- all major cryptocurrencies, as well as seven fiats;
- margin trading, as well as futures and indices trading ;
- large leverage (x5 for margin, x50 for futures trading);
- an extensive database of information and training materials;
- large trading volumes on the exchange provide high liquidity;
- some of the lowest fees in the cryptocurrency market.
- no investment programs;
- no call center.
TU Expert Advice
Financial expert and analyst at Traders Union
The Kraken exchange was founded in 2011, it is headquartered in San Francisco, and has a valid license. The platform is multilingual as it is translated into the main languages of the world. Technical support works 24/7, but there is no call center.
There are several hundred cryptocurrencies and stablecoins on the exchange, as well as seven fiat currencies. This allows you to trade in the areas of crypto-crypto and crypto-fiat without restrictions. The exchange does not impose any limits on traders, except for daily limits for withdrawing funds, but these limits are large (up to 500,000 USD).
Testing of the Kraken exchange’s trading terminal has shown its functional convenience and state of art. Users note the comfort of trading using the exchange’s mobile application. Experts emphasize the high level of security of data and funds, which is ensured by unique encryption protocols.
Testing did not reveal any technical problems because the servers are stable. We can recommend this company for cooperation for both experienced and novice traders. For beginners, it is especially convenient due to its intuitive functions and a large number of free training programs.
Kraken Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, currencies |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets, SEPA |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:5 for margin trading, 1:50 for futures |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | All popular cryptocurrencies and stablecoins, 7 fiats, large leverage, solid trading volumes. In addition to cryptocurrencies, there are indices and futures, but no investment programs. |
| 🎁 Contests and bonuses: | Bug Bounty program with payments for finding vulnerabilities |
The user cannot deposit funds or trade without verification. There are no minimum deposit limits with verification, the user fully controls his financial policy on the exchange, the exception is the upper limit on daily withdrawal of funds. Kraken crypto exchange offers significant leverage which lets you gain a significant trading edge. You can contact the technical support of the company using an offline help system, tickets, and online chat.
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Commissions and fees
There are six trading levels. At the lowest - the first level, the maker’s/taker’s commission is 0.20% each. At the highest - the sixth level, the maker’s/taker’s commission is 0.0%. These fees are relevant for all cryptocurrencies and stablecoins.
For users with the highest verification level (Pro), the commissions are different, as is the scale of their calculation. For example, at the first level, the maker’s commission is 0.16%, and the taker’s commission is 0.26%. At the same time, there are nine levels for Pro users, which makes trading more flexible, allowing you to receive profitable commissions on intermediate trading volumes.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.20% per order | available |
Please note that there are separate opening and rollover commissions for margin trading for each cryptocurrency and currency. There are also commissions for futures and instant buy functions. To compare the conditions for commission fees, the table below shows information for several exchanges.
| Broker | Average commission | Level |
|---|---|---|
|
$0.2 | |
|
$6 | |
|
$20 |
Investment Options
Investment Programs, Available Markets and Products of the Broker
The Kraken exchange does not offer programs for investing in cryptocurrencies or fiat funds. This company is focused on active trading and is not suitable for users whose main goal is to generate stable passive income. There is only a typical referral program for passive earnings.
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Kraken’s affiliate program
The Kraken exchange’s referral program is pretty standard. It is available to all verified users (even with the initial verification level) and allows you to receive passive income from invited traders. The conditions and principles of the program are the following:
After passing the verification in the personal account on the website and in the mobile application you will get access to a personal referral link.
You can post it on any external resources, and distribute it through all available communication channels.
Each user who registers with the crypto exchange, following your referral link, becomes your partner.
The crypto exchange will transfer you 20% of the commission fees they charge on all trading operations of your referral.
The referral program is single-level, that is, you receive income only from the commissions of the users you invited. Users invited by your referrals do not generate income for you. The program has no expiration date, that is, it is valid for as long as your referrals trade on the exchange. There are no restrictions on the number of partners.
User Satisfaction