Kraken Exchange Review: Fee Tiers, License, and Security Record

Kraken is the oldest exchange in this ranking: CoinGecko dates it to 2011 and registers it in the United States. It lists 715 coins on 1,345 pairs and trades around $1.7B a day (CoinGecko, 4 November 2026). Kraken is centralized, so it keeps customer assets in its own custody.

Kraken Pro is built for experienced traders: advanced charting, a wide range of order types, futures, and margin trading. The Kraken app, by contrast, is designed for simple trading that works for users at any level. Both platforms share the same login. Fees depend on the tier Kraken assigns based on your 30-day trading volume or assets on the platform (see the fees question below). Source: official Kraken support article “Which Kraken platform is best for me?,” updated 1 October 2026.

Kraken’s spot fee depends on your tier. At Tier 1 you pay 0.40% as a maker and 0.80% as a taker; above $2,500 (Tier 2) that falls to 0.30% and 0.60%, above $10,000 (Tier 3) to 0.22% and 0.38%, and at the top, above $500 million, makers pay nothing and takers from 0.05%. Since 9 July 2026 Kraken sets one tier from whichever of three measures (30-day spot volume, 30-day futures volume or assets on the platform) gives you the lowest fees. Source: Kraken’s fee schedule, checked 25 October 2026, and its support article on cross-platform fee tiers (updated 9 July 2026).

On perpetual USDT futures, Kraken charges makers 0.02% and takers 0.05% at the base tier (VIP 0), as of 31 October 2026. By taker fee that is tied for the 2nd lowest of 10. Funding rates are charged separately, and leverage can magnify losses beyond the margin.

On its cheapest network, withdrawing USDT from Kraken costs $0 on Ink (checked 12 October 2026), one of three exchanges here with free USDT withdrawals on at least one network. For other coins, check the fee table before you send funds.

Kraken has the maximum CoinGecko Trust Score (10/10) and is MiCA-licensed in Ireland through its Payward entities. Its website has an SSL Labs grade of A+ (2 November 2026) and no Google Safe Browsing flags (4 November 2026).

Kraken’s proof-of-reserves page reports a 30 June 2026 snapshot: 102.9% for BTC, 100.5% for ETH, and at least 105% for USDT and USDC. These are Kraken’s own figures.

Yes, through two Irish entities. Payward Europe Solutions Limited and Payward Global Solutions Limited, trading as Kraken, are on ESMA’s MiCA register under the Central Bank of Ireland, with authorization notified on 25 June 2025 and kraken.com as the site. The first covers custody, fiat and crypto exchange, order execution and transmission, portfolio management and more; the second is authorized to operate a trading platform (checked 1 November 2026).

Per Kraken’s support article, verification requires an email address, full name, date of birth, phone number, physical address, employment details, a valid identity document, and a completed KYC questionnaire. Higher-limits verification also requires two-factor authentication for sign-in, and Kraken may ask for a photo of your face or of your ID in some situations. Source: official Kraken support article “Verification level requirements,” updated 1 October 2026.

Yes. Kraken OTC is for spot and derivatives trades over $50,000 and is available to clients in certain jurisdictions only. Requests go through the form on the OTC page. As of 2 November 2026, per the Kraken OTC page.

Kraken’s European business is split between two Irish entities, Payward Europe Solutions Limited and Payward Global Solutions Limited, both on ESMA’s MiCA register.