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Kraken Review
A long-standing crypto exchange with strong security, lower Pro fees and deep liquidity. Good for intermediate users.
Best for
- Security-conscious users
- Lower-fee Pro trading
- Intermediate traders
Not best for
- You want the simplest possible UI
- Your US state is restricted
Our verdict & scoring
Kraken is a veteran exchange respected for security and reliability, offering competitive fees on Kraken Pro, deep liquidity and a broad coin selection. Available in many countries and US states (with some restrictions), and generally more fee-efficient than simple retail apps. In March 2025 the SEC dismissed its lawsuit against Kraken (Payward) with prejudice — no penalties or admissions — and Kraken resumed on-chain staking for US users. Kraken also acquired US futures broker NinjaTrader in 2025.
Scores are based on our review methodology. Affiliate relationships do not buy higher ratings.
Who should actually use Kraken
Kraken is the intermediate trader's exchange: a veteran with a strong security record, deep liquidity, a broad coin selection and meaningfully lower fees on Kraken Pro than simple retail apps. US users regained on-chain staking after the SEC dismissed its case with prejudice in March 2025, and the group now owns futures broker NinjaTrader. If you want the absolute simplest UI — or your US state restricts certain products — it's not the first pick.
What we'd change
The gap between Instant Buy and Kraken Pro pricing is the main trap: the convenience flow costs notably more than the Pro order book for the same trade. Watch withdrawal/network fees and the staking commission, check product availability in your state or region, and remember there's no paper-trading mode to practise on.
How it compares to Bitstamp
Two veterans with opposite centres of gravity. Kraken has the deeper liquidity, wider coin selection, staking and regional futures, with Kraken Pro among the cheaper places for active trading; Bitstamp is smaller and simpler but anchored by its EU MiCA licence (CSSF, Luxembourg) and compliance-first reputation. Active and US-based traders lean Kraken; EU-first, reliability-focused investors lean Bitstamp.
Pros
- Strong security reputation
- Lower Pro fees
- Deep liquidity
Cons
- Instant-buy fees are high
- Some products restricted by region
- UI less beginner-slick than rivals
Fees & hidden costs explained
Competitive maker/taker fees on Kraken Pro; higher on the simple Instant Buy flow.
Safety, regulation & availability
US: FinCEN-registered MSB with state money-transmitter licenses (operated by Payward, Inc./Payward Ventures, Inc.); the SEC dismissed its enforcement case with prejudice in March 2025. UK: subject to FCA financial-promotion rules for cryptoassets. EU: operating under the MiCA framework. Some products/states restricted — verify local availability.
Account protection: Crypto is not covered by SIPC or FSCS. Review Kraken's own security and proof-of-reserves disclosures.
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Frequently asked questions
Is Kraken safe?
Kraken is a veteran exchange with a strong security reputation and proof-of-reserves disclosures. But crypto is never SIPC- or FSCS-covered — protection depends on the exchange's own security and custody practices.
What happened with the SEC case against Kraken?
In March 2025 the SEC dismissed its lawsuit against Kraken (Payward) with prejudice — no penalties or admissions — and Kraken resumed on-chain staking for US users.
How do I get Kraken's lowest fees?
Trade on Kraken Pro, which uses competitive maker/taker pricing. The simple Instant Buy flow charges noticeably more for convenience.
Is Kraken regulated?
In the US it's a FinCEN-registered MSB with state money-transmitter licences; in the UK it's subject to FCA financial-promotion rules for cryptoassets; in the EU it operates under the MiCA framework. Some products and US states are restricted — verify local availability.
Does Kraken offer staking?
Yes — including on-chain staking for US users again since March 2025. A staking commission applies.
Who owns NinjaTrader?
Kraken — it acquired the US futures broker NinjaTrader in 2025, extending the group beyond crypto.
Official sources
Risk warning: Trading stocks, options, futures, forex, crypto, CFDs and funded accounts involves risk. You can lose money. This website is educational only and does not provide financial, investment, tax or legal advice.
Leverage, volatility, fees, spreads, liquidity and platform rules can increase losses.
Affiliate disclosure: We may earn a commission when you click some links on our site. This does not cost you extra. Our comparisons are educational and transparent, and our rankings are not affected by commissions.