Personal Finance · head to head
E*TRADE vs Kraken
Kraken
Personal Finance
Secure cryptocurrency exchange for serious traders
- From
- Free
- Rated
- -
The short version
- Only Kraken has a free tier, so it costs nothing to try first.
- Each has a real cost: E*TRADE stock and ETF trades were $0 commission but options carried a $0.65 per-contract fee, broker-assisted trades added a $25 surcharge, and margin interest rates ranged from 12.70% to 13.20% depending on balance tier (Internet Archive capture, 3 January 2023); Kraken restricted in 16 jurisdictions due to compliance requirements
- They diverge on capability: E*TRADE covers Advanced trading tools, Kraken covers Spot Trading.
Where they differ
Only the attributes on which E*TRADE and Kraken actually diverge.
Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in E*TRADE
- Advanced trading tools
- Options and futures
- Research tools
- Mobile trading
- Bank accounts
- Wire transfers
- IOS support
Only in Kraken
- Spot Trading
- Futures Trading
- Margin Trading
- Staking
- OTC Desk
- Bank transfers
- SWIFT
- Plaid
Both cover
- Web support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
E*TRADE
- Budget Managementnot Kraken
- Expense Trackingnot Kraken
- Investment Trackingnot Kraken
Kraken
- Exchangesnot E*TRADE
- Tradingnot E*TRADE
- Stakingnot E*TRADE
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
E*TRADE
- Stock and ETF trades were $0 commission but options carried a $0.65 per-contract fee, broker-assisted trades added a $25 surcharge, and margin interest rates ranged from 12.70% to 13.20% depending on balance tier (Internet Archive capture, 3 January 2023)
Kraken
- Restricted in 16 jurisdictions due to compliance requirements
- Withdrawal processing delays due to KYC verification, blockchain confirmations, and compliance checks
- Account restrictions triggered by scam prevention can only be lifted after 90 days
- Margin trading limited to 5x leverage on most assets; 10x available only to eligible users
Pricing, plan by plan
E*TRADE
On request- Stock & ETF TradingFree
- Commission-free trades
- Real-time quotes
- Advanced Trading$undefined/month
- All Stock & ETF features
- Options, futures
- Advanced tools
Kraken
Free- StarterFree
- Basic trading
- Staking
- Instant buy
- ProFree
- Advanced trading
- Margin trading
- Futures
Which should you pick?
Choose E*TRADE if
- You need advanced trading tools.
- You work on Web, IOS, Android.
- You also want options and futures.
Choose Kraken if
- You need spot trading.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want futures trading.
Questions people ask
- Is E*TRADE or Kraken better?
- Neither clearly leads. E*TRADE starts at On request and Kraken at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, E*TRADE or Kraken?
- Kraken has a free tier; the other does not. Paid plans start at On request for E*TRADE and Free for Kraken.
- Does E*TRADE or Kraken run on more platforms?
- E*TRADE runs on Web, IOS, Android. Kraken runs on Web, Ios, Android.
- Can I use Kraken for free?
- Yes. Kraken has a free tier, so you can try it without paying. E*TRADE starts at On request.
- What is E*TRADE best used for?
- E*TRADE is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what Kraken is typically brought in for.
- What can E*TRADE do that Kraken cannot?
- E*TRADE covers Advanced trading tools, Options and futures, Research tools, Mobile trading. Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking. Both handle Web support, Android support.
Answered from the vendors’ own pages
Kraken: How much does Kraken charge in fees?
Kraken Pro spot trading fees start at 0.25 percent maker and 0.40 percent taker for entry-level volume, decreasing to 0.00 percent maker and 0.08-0.10 percent taker at USD 10M+ monthly volume. The Kraken standard platform charges 1 percent on instant trades and 1.5 percent on custom orders. Kraken+ membership costs 4.99 USD/month or 49.99 USD/year for up to USD 10k/month in fee-free volume.
SourceKraken: In how many countries can I use Kraken?
Kraken supports 190+ countries and 9 major fiat currencies (USD, EUR, GBP). However, services are restricted in 16 jurisdictions including Russia, Iran, North Korea, Syria, and Afghanistan due to regulatory compliance requirements.
SourceKraken: Is Kraken custody secure?
Kraken holds ISO/IEC 27001:2022 certification and passed SOC 2 Type 1 examination. The exchange uses cold storage with crypto infrastructure in secure cages under 24/7 armed surveillance. Kraken Custody uses multiparty computation (MPC) and hardware security module (HSM) technology. As a Wyoming SPDI-chartered institution, Kraken Financial operates on full-reserve basis, holding 100 percent of client deposits in unencumbered liquid assets.
SourceKraken: What cryptocurrencies can I trade?
Kraken supports 500+ cryptocurrencies across 600+ crypto trading pairs. The platform also offers tokenized equities (xStocks) for direct trading of stock exposure, and supports staking rewards on eligible digital assets.
Source