Kraken Review 2020
Kraken is a cryptocurrency exchange that gives traders access to buy and sell cryptos online, offering competitive fees, versatile funding options, and a selection of educational materials.
Kraken Review 2020, Pros & Cons
- Sophisticated mobile trading platforms
- Selection of educational materials
- 24/7 customer support
- Unregulated broker
- Limited non-Cryptocurrency trading assets
- No MetaTrader platforms
In this detailed Kraken review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Kraken is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Kraken.
Kraken Review: Summary
Based in San Francisco, Kraken is an online crypto exchange that offers multiple cryptocurrencies, such as Bitcoin, Ripple, Ethereum, and Litecoin, for trading online via multiple intuitive mobile platforms. Traders enjoy 24/7 customer support and access to a vast collection of educational resources.
Kraken Review: Regulation
The exchange states that 95% of all deposits are kept in an offline, air-gapped, geographically distributed cold storage, thus, ensuring high security of clients’ funds. However, the exchange is unregulated.
Kraken Review: Countries
Kraken allows traders from different parts of the world, where cryptocurrency trading is permitted, to open a trading account with them.
Some Kraken features and products mentioned within this Kraken review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Kraken Review: Trading Platforms
The exchange provides clients with a variety of sophisticated mobile trading apps, including the Kraken Pro and the Kraken Futures platforms. They allow traders to trade multiple cryptocurrencies anytime and from anywhere, using their mobile devices running on Android and iOS. Kraken’s trading platforms are consistently rated amongst the best crypto platforms and most secure digital asset exchanges by independent news media.
Kraken Review: Trading Tools
Clients also get access to a range of useful trading tools to aid their trading. Some of the trading tools include a personal account manager, trading API, and Crypto Watch.
Kraken Review: Education
The ’Learn’ section of the Kraken’s website contains blogs and podcasts that have a range of educative articles to improve traders’ skills and knowledge.
Kraken Review: Trading Instruments
Kraken is an online crypto exchange that offers multiple cryptocurrencies, such as Bitcoin, Ripple, Ethereum, Litecoin, and more, for trading online via multiple intuitive mobile platforms. They also offer some forex currency pairs, indices and futures.
Kraken Review: Trading Accounts & Fees
The exchange offers clients a live trading account that is accessible via the provided mobile trading platforms. The account offers margin trading, which allows clients to amplify their trading positions for trading both long and short in the markets.
As broker fees can vary and change, there may be additional fees that are not listed in this Kraken review. It is imperative to ensure that you check and understand all of the latest information before you open a Kraken broker account for online trading.
Kraken Review: Customer Service
The exchange has a dedicated customer support team that is on hand to give polite and prompt response to clients’ inquiries. They can be reached via telephone, email, and Live Chat.
Kraken Review: Deposit & Withdrawal
The exchange accepts a wide range of different account funding and withdrawal methods. They include:
- International bank wire transfer
Kraken Review: Account Opening
To open a trading account, potential traders are required to click on the signup button on the website and fill out the form properly. After submitting their applications, they are also required to upload their means of identification. Once the account has been created, the trader can fund their account and start trading online.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Kraken Review: Conclusion
Founded in 2011 in San Francisco, Kraken is a cryptocurrency exchange that offers online trading of cryptos, with a competitive service including reasonable fees, versatile funding options, and a selection of educational materials along with some useful trading tools. They are however unregulated and thus cannot give the same investor protection that a regulated broker can.
Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services are provided. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.