Softwr

Software · head to head

Kraken vs OKX

Kraken logo

Kraken

Software

Secure cryptocurrency exchange for serious traders

From
Free
Rated
-
Full reviewWebsite
OKX logo

OKX

Software

Trade crypto with confidence

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Kraken restricted in 16 jurisdictions due to compliance requirements; OKX withdrawal fees are dynamic and vary based on network conditions
  • They diverge on capability: Kraken covers Futures Trading, OKX covers Derivatives.

Where they differ

Only the attributes on which Kraken and OKX actually diverge.

Attributes where Kraken and OKX differ
AttributeKrakenOKX
Founded20112017

Identical on both: starting price (Free), pricing model (freemium), free tier (Yes), platforms (Web, Ios, Android), user rating (Not yet rated), category (Unknown).

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 Kraken

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

Only in OKX

  • Derivatives
  • DeFi
  • NFT Marketplace
  • Web3 Wallet
  • OKB Token
  • OKX Chain
  • Desktop support

Both cover

  • Spot Trading
  • Web support
  • Ios support
  • Android support

What people use each for

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

Kraken

  • Exchangesnot OKX
  • Tradingnot OKX
  • Stakingnot OKX

OKX

  • Cryptocurrency spot and derivatives trading with 280+ cryptocurrenciesnot Kraken
  • Web3 wallet and decentralised finance services for DeFi participantsnot Kraken

Where each one falls short

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

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

OKX

  • Withdrawal fees are dynamic and vary based on network conditions
  • Subject to regulatory restrictions by jurisdiction; availability limited in some countries

Pricing, plan by plan

Kraken

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

OKX

Free
  • StandardFree
    • Spot trading
    • Derivatives
    • DeFi
  • VIPFree
    • Reduced fees
    • Priority support
    • Higher limits

Which should you pick?

Choose Kraken if

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

Choose OKX if

  • You need derivatives.
  • You want to start without paying.
  • You work on Web, iOS, Android.
  • You also want defi.
OKX review

Questions people ask

Is Kraken or OKX better?
Neither clearly leads. Kraken starts at Free and OKX at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Kraken or OKX?
Kraken starts at Free and OKX at Free.
Does Kraken or OKX run on more platforms?
Kraken runs on Web, Ios, Android. OKX runs on Web, iOS, Android.
Can I use Kraken for free?
Both have a free tier, so you can try either at no cost before committing.
What is Kraken best used for?
Kraken is most often used for exchanges, trading, staking. Of those, exchanges and trading are not what OKX is typically brought in for.
What can Kraken do that OKX cannot?
Kraken covers Futures Trading, Margin Trading, Staking, OTC Desk. OKX covers Derivatives, DeFi, NFT Marketplace, Web3 Wallet. Both handle Spot Trading, Web support, Ios 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.

Source
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
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
ShareXLinkedInRedditWhatsAppEmail

Related pages

More on Kraken

More on OKX

Keep looking

Other head to heads