Kraken Review

Kraken scores 7.3 out of 10 and ranks third of four in our crypto exchange ranking, which compares published trading costs. Its pricing is fully published, and its discounts depend on trading volume alone, with no exchange token to hold. Against that, the Kraken Pro entry tier is 0.40% maker and 0.80% taker. That is the second-highest starting rate of the four venues, and it is what keeps the score in the low sevens. Every figure was checked against Kraken's fee schedule on 1 November 2026. This is desk research; no account was opened or traded.

How Kraken scores in crypto exchanges

The exchange category uses four criteria. Each is marked 0 to 10, and all four carry equal weight under our ratings methodology.

The overall score is the plain average: (9 + 5 + 8 + 7) / 4 = 29 / 4 = 7.25, which rounds to 7.3.

Strongest criteria: disclosure and conditions

Fee disclosure (9). The schedule lists every spot tier, from 0.40% / 0.80% above $0 down to 0.00% / 0.05% above $500 million of 30-day volume. Each tier shows both sides of the book. Separate tables cover less-liquid "maker rebate" pairs and pairs where both sides are stablecoins, pegged tokens or fiat, which start at 0.20% for both makers and takers. The app side is stated too: 1% on instant and recurring buys, sells and conversions, and 1.5% on individually customized orders. The mark stops short of 10 for two reasons. The app's spread is described but not quantified, and it varies with asset, order size and market conditions. Deposit and withdrawal fees are given as variable, with the fee shown at confirmation taken as the one that applies.

Fee conditions (8). Lower Pro rates depend on 30-day trading volume and nothing else. The schedule does not tie any discount to holding an exchange token, so taking the cheaper rate does not mean taking a position in the venue's own asset. That is the difference between Kraken's 8 and Binance's 6. Two qualifications keep it below Bitfinex's 10. Lower rates still require volume. And the app's fee waiver comes through Kraken+, a subscription that removes the app trading fee on up to $10,000 of monthly volume but leaves the spread and card fees in place.

Weakest criteria: entry cost and coverage

Entry-tier cost (5). This is a measured deficiency. At the entry tier, a $1,000 market order that fills immediately pays the 0.80% taker fee, which is $8. A limit order that rests on the book and is filled by someone else pays the 0.40% maker fee, which is $4. Our guide to market and limit orders explains which is which. The first step down, at $2,500 of 30-day volume, is 0.30% / 0.60%. The mark sits between Binance's 8 and Gemini's 2.

Product coverage (7). The schedule prices spot, stablecoin and FX pairs and the app. It also sets margin opening and rollover fees, mostly 0.02% to 0.04% per position with rollover every four hours, plus a 2% fee on forced liquidations. A futures section has its own volume-based discounts. OTC trading is mentioned as an option for large, infrequent traders, but it is not priced. The schedule also notes that some products, such as equities, margin and perpetual futures, depend on your account and location. Bitfinex's single zero-fee schedule earns 10 here and Binance 8.

What the score does not cover

The exchange ranking deliberately excludes custody, reserves and licensing, so 7.3 is a cost score, not a safety assessment. It also does not price the app's spread, payment-card charges or variable funding fees. Kraken describes those but does not fix them in advance, so check the confirmation screen. Regional availability is not scored either. Kraken's own restrictions article lists places it does not serve, including New York and Maine in the US.

Kraken vs Binance and Gemini

Against Binance, Kraken trades a lower entry-cost mark (5 against 8) for a better conditions mark (8 against 6), and loses one more point on coverage. Under equal weights that leaves it half a point behind. Against Gemini, which also uses token-free tiers, Kraken leads by 1.0 point, because its entry rate is lower (5 against 2) and its disclosure mark one point higher. Gemini's coverage mark rose to 7 at this check, level with Kraken's.

Who it suits

On published costs, Kraken Pro suits traders who would rather reach lower fees through volume than by holding an exchange token, and who place enough orders to move down the tiers. For an occasional trader paying entry rates, especially with taker orders, Kraken scores lower on entry cost than Binance or Bitfinex. The app's 1% fee plus spread costs more than Pro for the same trade.