Kraken Review
3.6/5 · Crypto exchange
Kraken review: one of the longest-running exchanges, with regular verifiable proof of reserves and an EU MiCA licence — but higher base fees and restricted in the Philippines.
Availability in our markets
- Philippines
- Restricted
- India
- Unclear
- Canada
- Available
Named in the Philippine SEC's August 2025 advisory on unregistered exchanges, after which telcos blocked flagged platforms. We found no FIU-IND registration for India. Operating in Canada.
Rating breakdown
- Security & regulation (30%)
- 4.5/5
- Fees (25%)
- 2.5/5
- Coin selection (15%)
- 4/5
- Fiat access & payments (15%)
- 3/5
- Usability & support (15%)
- 4/5
Weighted per our exchange rubric.
Pros
- Regular, independently attested proof of reserves you can verify yourself
- EU MiCA licence and stayed in Canada when others left
- No major hack in recent years
Cons
- Steep lowest-tier fees (0.80% taker under $2,500 monthly volume)
- Flagged by the Philippine SEC (Aug 2025)
- No local fiat rails for the Philippines or India
Key facts
- Spot fees (maker / taker)
- 0.4% / 0.8%
- Coins supported
- Not confirmed
- Regulation
- EU MiCA (Central Bank of Ireland, 2025); Canada restricted dealer (OSC, 2025)
- Proof of reserves
- Published
- Founded
- 2011
- Operator
- Payward, Inc.
Kraken Pro, lowest tier ($0–$2,500 30-day volume); drops to 0.30% / 0.60% above $2,500. Instant Buy costs more than Kraken Pro.
Verdict
Kraken is the safety-first pick among the global exchanges: it has published verifiable proof of reserves for years, holds an EU MiCA licence, and remained registered in Canada. The trade-off is cost — small traders pay 0.40% / 0.80% on Kraken Pro — and it isn't an option in the Philippines.
Who it's for
Canadian and European users who prioritise security and transparency over the lowest fees. Not for Philippine users (restricted) or very small, frequent traders.
Safety, regulation & track record
Kraken publishes proof of reserves with independent attestations and a Merkle-tree check users can run themselves. It holds a MiCA authorisation from the Central Bank of Ireland (June 2025) and restricted-dealer approval in Canada (2025). We found no major hack in recent years.
How we researched this
Desk research on 2026-11-03 against the exchange's own fee and policy pages, regulator notices, and news reporting (listed under Sources). We did not deposit funds. Facts we couldn't confirm from a primary source are marked as such rather than guessed. Availability and fees change often — check the exchange and your local regulator before signing up.