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Personal Finance · head to head

Firefly III vs Kraken

Firefly III logo

Firefly III

Personal Finance

Free, open source, self-hosted personal finance manager with double-entry style accounting

From
Free
Rated
-
Full reviewWebsite
Kraken logo

Kraken

Personal Finance

Secure cryptocurrency exchange for serious traders

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Firefly III there is no official managed hosting, so a non-technical user has no easy on-ramp the way Actual Budget offers with its paid hosted sync.; Kraken restricted in 16 jurisdictions due to compliance requirements
  • They diverge on capability: Firefly III covers Double-entry style ledger, Kraken covers Spot Trading.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Firefly III and Kraken actually diverge.

Attributes where Firefly III and Kraken differ
AttributeFirefly IIIKraken
Pricing modelOpen source, no licence feefreemium
PlatformsWeb, Linux, DockerWeb, Ios, Android
FoundedUnknown2011

Identical on both: starting price (Free), free tier (Yes), 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 Firefly III

  • Double-entry style ledger
  • Multi-currency accounts
  • Bill and subscription tracking
  • Rule engine
  • Reports and charts
  • API access

Only in Kraken

  • Spot Trading
  • Futures Trading
  • Margin Trading
  • Staking
  • OTC Desk
  • Bank transfers
  • SWIFT
  • Plaid

What people use each for

The jobs each tool is most often brought in to do.

Firefly III

  • A self-hoster already running a home server or NAS who wants their financial ledger on the same infrastructurenot Kraken
  • Someone who wants double-entry style accuracy rather than simple envelope budgetingnot Kraken
  • A privacy-focused user who refuses to put financial data on any third-party server, hosted or otherwisenot Kraken
  • A developer who wants API access to build custom bank import scripts for accounts with no standard connectornot Kraken

Kraken

  • Exchangesnot Firefly III
  • Tradingnot Firefly III
  • Stakingnot Firefly III

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Firefly III

  • There is no official managed hosting, so a non-technical user has no easy on-ramp the way Actual Budget offers with its paid hosted sync.
  • The double-entry-influenced model is less intuitive for newcomers than simple envelope budgeting, and the learning curve is real.
  • Automatic bank sync depends on the community-run importer and third-party connectors, and coverage and reliability vary a lot by bank and country.
  • Mobile access is via a web interface rather than a polished native app, which is a step behind Actual Budget or Lunch Money on phones.
  • Because there is no company behind it, security patching and feature development depend entirely on volunteer maintainer time.

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

Firefly III

Free
  • Firefly IIIFree
    • Full functionality, self-hosted
    • No usage limits
    • Community support, donations accepted

Kraken

Free
  • StarterFree
    • Basic trading
    • Staking
    • Instant buy
  • ProFree
    • Advanced trading
    • Margin trading
    • Futures

Which should you pick?

Choose Firefly III if

  • You need double-entry style ledger.
  • You want to start without paying.
  • You work on Web, Linux, Docker.
  • You also want multi-currency accounts.
Firefly III review

Choose Kraken if

  • You need spot trading.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want futures trading.
Kraken review

Questions people ask

Is Firefly III or Kraken better?
Neither clearly leads. Firefly III starts at Free and Kraken at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Firefly III or Kraken?
Firefly III starts at Free and Kraken at Free.
Does Firefly III or Kraken run on more platforms?
Firefly III runs on Web, Linux, Docker. Kraken runs on Web, Ios, Android.
Can I use Firefly III for free?
Both have a free tier, so you can try either at no cost before committing.
What is Firefly III best used for?
Firefly III is most often used for a self-hoster already running a home server or nas who wants their financial ledger on the same infrastructure, someone who wants double-entry style accuracy rather than simple envelope budgeting, a privacy-focused user who refuses to put financial data on any third-party server, hosted or otherwise, a developer who wants api access to build custom bank import scripts for accounts with no standard connector. Of those, a self-hoster already running a home server or nas who wants their financial ledger on the same infrastructure and someone who wants double-entry style accuracy rather than simple envelope budgeting are not what Kraken is typically brought in for.
What can Firefly III do that Kraken cannot?
Firefly III covers Double-entry style ledger, Multi-currency accounts, Bill and subscription tracking, Rule engine. Kraken covers Spot Trading, Futures Trading, Margin Trading, Staking.

Answered from the vendors’ own pages

Firefly III: Can I pay someone to host Firefly III for me?

Not through the core project; some third-party providers sell Firefly III hosting independently, but there is no official managed service.

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.

Source
Firefly III: Does it support multiple currencies?

Yes, natively, including accounts and transactions in different currencies.

Kraken: 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.

Source
Firefly III: Is it really free with no paid tier?

Yes, the software is free and open source under the AGPL; the project accepts donations but sells nothing.

Kraken: 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.

Source
Kraken: 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
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