Kraken is one of the oldest and most trusted global crypto exchanges, offering strong FCA-registered compliance, low Pro-tier fees, and excellent security. For UK users, it delivers a wide range of coins, deep liquidity and reliable GBP deposits. This kraken review explains it’s fees, safety, app experience and who it’s best for.
Key takeaway – how do we rate kraken?
Kraken scores 4.3/5 in our UK review, performing best on security, regulation and overall features. Fees are low on Kraken Pro, while the Standard interface is more expensive. Customer support is better than rivals, the exchange has never been hacked, and FCA registration improves trust. Pro tools are excellent, though Instant Buy fees are high.
Key info table
| Feature | Details |
|---|---|
| FCA Registered | Yes (AML compliance only) |
| FSCS Protection | No |
| Minimum Deposit | £1 via bank transfer |
| Supported Coins | 490+ |
| Mobile App | iOS & Android (Standard + Pro) |
| Trading Fees | 0.25% / 0.40% (Pro entry tier) |
| Instant Buy Fees | ~1% + spread + method fee |
| Funding Methods | Bank transfer, card, PayPal, crypto |
| Staking Available | Yes |
| UK Margin/Futures | No |
Kraken UK score (Psyfitec method + platform scoring model)
| Category | Score | Reason |
|---|---|---|
| Security & Trust | 5/5 | FCA-registered, Proof-of-Reserves, no hacks, strong 2FA. |
| Fees & Pricing | 4/5 | Low on Kraken Pro; high on Instant Buy. |
| Features | 4/5 | Excellent Pro tools, staking, 490+ coins (no UK margin/futures). |
| Ease of Use | 4/5 | Simple Standard UI; Pro is advanced but polished. |
| Customer Support | 4/5 | 24/7 chat, phone support; better than typical exchanges. |
| Reputation | 5/5 | Operating since 2011; widely trusted globally. |
With an overall 4.33/5, Kraken ranks as one of the strongest and most reliable crypto exchanges for UK users, especially for those who prioritise security, compliance and low-cost trading on Kraken Pro.
What is Kraken exchange?
Kraken is a long-established global crypto exchange offering secure buying, selling and trading of more than 500 assets. UK users get bank-transfer funding, FCA-registered oversight, strong security and access to Kraken Pro. Although futures and margin are restricted under UK rules, Kraken remains one of the safest and most transparent platforms available.
Key features
- 500+ supported cryptocurrencies
- Deep liquidity and tight spreads
- Free access to Kraken Pro
- Staking and earn features
- Strong security architecture
- 24/7 customer support
What are the fees on Kraken?
Kraken fees are low on Kraken Pro, starting from 0.25% maker / 0.40% taker and decreasing with volume—but high on the Standard “Instant Buy” interface, which starts at 1% plus spread and payment fees. UK users typically get the best value by trading through Kraken Pro rather than Instant Buy.
Kraken standard (instant buy) fees
| Fees Type | Cost |
|---|---|
| Buy/sell crypto | ~1% plus spread |
| Stablecoins | 0.9% |
| Bank deposit processing | 0.5% |
| Card payments | 3.75% + £0.21 |
| Best for | Beginners wanting fast purchases |
Kraken Pro fees (maker–taker)
| 30-day volume | Maker | Taker |
|---|---|---|
| $0–$10k | 0.25% | 0.40% |
| $50k–$100k | 0.14% | 0.24% |
| $250k–$500k | 0.10% | 0.20% |
| $1m+ | 0.06% → 0.00% | 0.16% → 0.10% |
Fiat deposit & withdrawal fees
| Action | Cost |
|---|---|
| GBP deposit (FPS) | Free |
| GBP withdrawal | £1–£35 |
| Crypto deposits | Mostly free (network fees apply) |
| Crypto withdrawals | Varies by token |
How does kraken’s interface differ from kraken pro?
Kraken’s Standard interface is built for simplicity, offering fast buy/sell tools but higher fees. Kraken Pro, by contrast, is an advanced trading interface with charts, order books, analytics, and significantly lower fees. Both use the same underlying account and GBP balances.
Platform comparison table
| Feature | Kraken standard | Kraken Pro |
|---|---|---|
| Best for | Beginners | Active & advanced traders |
| Order types | Market / simple limit | Market, limit, stop, take-profit, trailing, iceberg |
| Fees | Higher | Lower (maker–taker) |
| Charts | Basic | Full TradingView-style |
| API access | No | Yes |
Use Standard for occasional purchases.
Use Pro for all active trading to reduce fees.
Kraken app experience (iOS & android)
Kraken offers two mobile apps: Kraken (Standard) and Kraken Pro.
Kraken standard app
- Beginner-friendly
- Quick buy/sell interface
- Portfolio tracking
- Clean and simple UI
App Store Rating: ~4.6
Google Play Rating: ~4.3
Kraken Pro app
- Advanced order types
- Full charting (TradingView-style)
- Lower fees than Instant Buy
- Depth charts, order books, analytics
- Extremely fast execution
App store rating: ~4.7
Google play rating: ~4.4
Use Pro if you want lower fees or trade frequently. Use Standard if you only make occasional purchases.
How to open an account with Kraken
Opening a Kraken UK account takes around 5–10 minutes and requires full ID verification to meet FCA AML rules. After email verification, users complete KYC, submit ID, take an appropriateness assessment, and then complete a mandatory 24-hour cooling-off period before trading.
Steps to open your account
- Visit kraken.com and select Create Account
- Verify email
- Enter personal details
- Complete ID verification (passport or driving licence)
- Complete appropriateness assessment
- Wait 24-hour cooling-off period
- Deposit GBP and start trading
Which cryptocurrencies and products does Kraken support?
Kraken supports more than 490 cryptocurrencies, including large-caps, mid-caps, stablecoins and niche tokens. UK users can stake multiple assets and trade spot markets, but cannot access futures or margin due to FCA restrictions.
Supported crypto categories
- Major coins: BTC, ETH, XRP, ADA, DOT, SOL
- ERC-20 tokens: LINK, AAVE, UNI, MKR
- Stablecoins: USDT, USDC, DAI
- Emerging tokens: AXS, GLMR, INJ
- NFT-friendly assets: ETH, SOL (via wallet)
Other products
- Staking: Available on multiple assets
- Kraken Earn: Auto-Earn on selected tokens
- OTC desk: Available for Pro/institutional clients
- Custody solutions: For institutions through Kraken Institutional
How to get the most out of Kraken.com?
The best way to use Kraken cheaply and safely is to deposit via bank transfer, trade through Kraken Pro, and use available security features. New investors should take advantage of the Learn Centre and Pro trial mode.
Practical tips
- Avoid Instant Buy for large trades due to higher fees
- Use Kraken Pro for better fees and tighter spreads
- Enable 2FA and withdrawal confirmations
- Use the Learn Centre for crypto tutorials
- Set recurring buys to average into positions
- Use the mobile Pro app for faster execution
- Monitor trading volume tiers to reduce fees
How safe and secure is Kraken?
Kraken is considered one of the safest global exchanges, with more than a decade of operation and no history of customer fund loss. It uses cold-storage custody, Proof-of-Reserves audits, ISO/IEC 27001 certifications, and FCA-registered compliance. However, crypto is not FSCS protected, and users must secure their own wallet addresses and devices.
Security features
- 95% offline, air-gapped cold storage
- 24/7 guarded data centres
- Two-factor authentication (2FA)
- PGP email encryption
- Withdrawal address whitelisting
- Independent Proof-of-Reserves audits
- Access to a Security Labs & Bug Bounty programme
How easy is it to deposit and withdraw GBP on this exchange?
Kraken offers fast, low-cost GBP deposits and withdrawals through UK Faster Payments, making it one of the easiest major exchanges for local funding. Most deposits arrive within minutes, and withdrawals often settle same-day.
GBP deposit options
| Method | Minimum | Fee |
|---|---|---|
| Faster Payments (FPS) | £1 | Free |
| CHAPS | £22 | £21 |
| SWIFT (Bank Frick) | £4 | £3 |
GBP withdrawal options
- From £1 minimum
- Fees range £1.95–£35 depending on method
- Same-day settlement via FPS
How good are the platform’s tools, app experience, and customer support?
Kraken’s tools are excellent, especially for Pro-tier traders who get advanced charts, analytics and order types. The mobile apps are intuitive, and customer support is strong, with 24/7 chat and weekday phone support. Educational content is among the best offered by a major exchange.
Tools & app experience
- Advanced TradingView-style charts
- Order book depth, analytics dashboard
- Multiple order types
- Highly rated mobile apps (Standard + Pro)
- Learn Centre tutorials
Customer support
| Channel | Availability |
|---|---|
| 24/7 Live Chat | Yes |
| Phone Support | Weekdays |
| Tickets | 15+ mins typical |
| Email Support | Good detail, slower replies |
Who is this platform best for?
Kraken is best for UK users who want a secure, FCA-registered exchange with low trading fees on Kraken Pro and strong long-term reliability. It suits beginners making occasional purchases and advanced traders needing deep liquidity and analytics. It is less suitable for users wanting margin/futures or very low Instant Buy fees.
Best for
- Security-focused UK investors
- Active traders using Kraken Pro
- Long-term buyers wanting staking/Earn
- Users who value FCA registration
Not Ideal for
- Day traders requiring UK futures/margin
- Those seeking the lowest Instant Buy fees
- Users requiring FSCS-protected services
Kraken pros & cons
Pros
- FCA-registered and highly trusted
- Never hacked in 13+ years of operation
- Low fees on Kraken Pro
- 490+ coins with deep liquidity
- Excellent security and Proof-of-Reserves
- Strong 24/7 customer support
Cons
- Instant Buy fees are high
- No UK margin/futures trading
- Verification can take time
- Pro interface may overwhelm beginners
Kraken vs competitors (UK 2025) comparison table
| Feature | Kraken | Coinbase | Binance | eToro |
|---|---|---|---|---|
| FCA Registration | Yes (AML) | Yes (AML) | No (not allowed for UK retail onboarding) | Yes (as CFD provider) |
| Trading Fees | Low (Pro: 0.25%/0.40%), High Instant Buy | High (0.60%+) | Very low (0.10% approx) | High spreads |
| Coins Supported | 490+ | ~250 | ~350 | ~80 |
| GBP Deposits | Free, fast FPS | Free FPS | Limited | Free FPS |
| Security Reputation | Excellent, never hacked | Good | Mixed past issues | Very good |
| Staking Available in UK | Yes | Limited | Yes | No |
| Mobile App Quality | Excellent (Standard + Pro) | Excellent | Good | Very beginner-friendly |
| Best For | Security + low-fee trading | Ease of use | Lowest fees & liquidity | Beginners + social investing |
Verdict: Kraken offers the strongest combination of security, regulatory trust, and Pro-tier low fees, while Coinbase wins on simplicity and Binance wins on pricing. eToro is best for complete beginners but not for active crypto traders.
How does UK tax work when using kraken?
Kraken does not deduct or file taxes for users. In the UK, crypto is taxed by HMRC under Capital Gains Tax (CGT) rules unless staking or rewards turn it into income.
Taxable events on Kraken
You pay CGT when you:
- Sell crypto for GBP
- Swap one crypto for another
- Spend crypto
- Gift crypto (non-charity)
Income tax applies when you receive:
- Staking rewards
- Airdrops (some cases)
- Referral bonuses
- Kraken Earn rewards
Does Kraken report to HMRC?
Kraken, like all major exchanges operating in the UK, may share customer data with HMRC upon request, especially for AML and compliance. Users should always keep accurate tax records.
Tools Kraken supports for tax reporting
Kraken exports trades via CSV and supports integration with:
- Koinly
- CoinTracker
- Accointing
- CryptoTaxCalculator
Tip: Export your full transaction history annually to simplify HMRC tax filings.
Kraken UK staking & earn explained
Is Staking Allowed on Kraken in the UK?
Yes, Kraken offers staking and “Earn” features to UK users, although available assets vary due to FCA guidelines.
What you can stake
You can stake major assets such as:
- ETH
- DOT
- ATOM
- ADA
- SOL
- ALGO
Yields vary based on network reward rates.
Is Kraken staking safe?
Kraken uses:
- On-chain staking
- Custodial staking
- Cold storage protection
- Reward tracking dashboard
Kraken staking is generally considered safe, but not risk-free. Kraken uses on-chain and custodial staking, stores most assets in offline cold storage, and provides a clear reward-tracking dashboard.
These measures improve security, but staking still carries market risk, validator risk, and no FSCS protection.
It’s safe from a platform-security perspective, but users should only stake funds they can afford to keep locked or exposed to volatility.
What is the Krak card and is it worth using in the UK?
The Krak Card is Kraken’s crypto-enabled debit card that lets UK users spend cash or crypto globally while earning 1% cashback on purchases.
It allows seamless payments online and in-store, supports both fiat and crypto balances, and charges no foreign transaction fees, making it a convenient way to use your Kraken funds in everyday life.
Key features of the Krak card
- 1% cashback paid instantly on eligible card transactions
- Spend crypto or cash from your Kraken balance
- No FX fees on international purchases
- Instant conversion of crypto at point of sale
- Works online, in-store and for contactless payments
- Full app integration for spending, limits and security controls
Fees and costs
- No monthly card fee
- No foreign transaction fees
- Crypto conversion spreads apply at the point of sale
- Standard network (Visa/Mastercard) merchant fees apply
Is the Krak card safe to use?
The Krak Card is backed by Kraken’s high security standards, including account-level 2FA, spending notifications, card-freeze controls, and cold-storage backing for unstaked funds.
While crypto spending carries market risk due to conversion pricing, the card itself is considered secure and FCA-registered through Kraken’s UK entity (for AML compliance only).
My Deposit & withdrawal experience (UK Banks)
GBP deposits via Faster Payments (FPS) are near-instant. In our tests:
- Monzo: Arrived in 1–2 minutes
- Revolut: 3–5 minutes
- HSBC / Barclays / Lloyds: Typically under 10 minutes
- Nationwide: Sometimes slower (10–30 minutes)
Withdrawals via FPS typically arrived:
- Within 5 minutes for Monzo & Revolut
- Within 1 hour for HSBC / Barclays
- Within 2 hours for Nationwide
Are UK banks blocking Kraken?
Currently, most major UK banks allow transfers to and from Kraken. Some banks may require SMS confirmation for the first transfer.
Conclusion
Kraken remains one of the most secure and reliable crypto exchanges for UK users, offering FCA-registered oversight, strong security standards, deep liquidity and low fees on Kraken Pro.
It suits beginners who want a simple way to buy crypto and experienced traders who need advanced tools, analytics and consistent execution.
If you want alternatives worth considering, eToro is a strong pick for beginners thanks to its beginner-friendly app and social investing tools, while Coinbase offers excellent ease of use and a polished learning centre.
For active traders prioritising low fees, Binance continues to offer some of the most competitive pricing.
Each platform has a different strength, so the best choice depends on whether you value simplicity, fees, or advanced trading capability.
FAQs
Is Kraken good in the UK?
Yes. Kraken is a strong choice for UK users thanks to FCA registration, fast GBP deposits, low fees on Kraken Pro, and excellent security.
Is Kraken trustworthy?
Yes. Kraken is one of the most trusted global exchanges, operating since 2011 with no history of customer fund loss and regular Proof-of-Reserves audits.
How long does Kraken withdrawal take in the UK?
Most GBP withdrawals via Faster Payments arrive same day, often within minutes, depending on your bank.
Is Kraken regulated in the UK?
Kraken (Payward Ltd) is FCA-registered for AML compliance, but crypto trading itself is not FCA-regulated and not FSCS protected.
Is Kraken safe for beginners?
Yes. Kraken is considered safe for beginners due to strong security, FCA registration and simple buying tools, though Instant Buy fees are higher than using Kraken Pro.
