Launched in 2011 in San Francisco, 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, along with a collection of educational resources, and 24/7 customer support. They also offer some forex currency pairs, indices, and futures for trading on the provided trading platform.
Kraken Review Introduction
In this Kraken review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including Kraken.
Kraken Platforms & Tools
Kraken provides clients with multiple sophisticated mobile trading apps, including the Kraken Pro and the Kraken Futures platforms. The mobile platforms present the full capability of the trading platform on simple handheld mobile phones, thus allowing traders to trade multiple cryptocurrencies anytime and from anywhere, using their mobile devices running on Android and iOS, which can be downloaded from the respective app stores. Kraken’s platforms are considered one of the most secure digital asset exchanges and best crypto platforms by independent media.
The Exchange’s clients also get access to some useful trading tools to aid their trading. Some of the trading tools include the Personal Account Manager, Trading API, and Crypto Watch.
Kraken Research & Education
The Exchange provides traders with a good collection of educational resources on the ’Learn’ section of their website, which contains blogs and podcasts covering a range of topics that can improve traders’ skills and knowledge whilst keeping them continuously in the know about the latest happenings in the financial markets.
Kraken Trading Accounts
The Exchange offers clients a live trading account that is accessible via the provided mobile trading platforms. It allows traders to buy and sell multiple cryptocurrencies online. The account offers margin trading, so clients can amplify their trading positions for trading both long and short directions
Kraken Account Funding
The Exchange accepts a wide range of different account funding and withdrawal methods. They include:
- International bank wire transfer
Some methods may not be available in specific countries, while the time taken to process transactions may vary, depending on the payment method used.
Kraken Customer Service
Kraken offers a dedicated customer support team that is always available to give polite and prompt responses to clients’ general, technical, or account-related inquiries. They can be reached via telephone, email, and Live Chat.
The Exchange states that 95% of all deposits are kept in an offline, air-gapped, geographically distributed cold storage, thus, ensuring the high security of clients’ funds. However, they are not unregulated, which may be a red flag to potential investors. But cryptocurrency trading is a new thing, and the sector is generally not regulated at the moment.
Kraken Review Summary
Founded in 2011 in San Francisco, Kraken is a cryptocurrency exchange that offers online trading of multiple cryptocurrencies via multiple sophisticated trading platforms, with a competitive service including reasonable fees, versatile funding options, a selection of educational materials, and some useful trading tools. They are however unregulated and thus cannot give the same investor protection that a regulated exchange can.
It is worth mentioning that some of the trading products and services in this Kraken review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Kraken broker website which you can visit by using the link below.
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.