FXCM vs Kraken 2026: Which Broker is Better?
When comparing FXCM and Kraken, the key distinction lies in their market focus: FXCM specialises in forex and CFDs, while Kraken is a leading cryptocurrency exchange. FXCM appeals to traders interested in traditional markets and benefits from low spreads and automated trading support, making it suitable for both beginners and experienced forex traders. In contrast, Kraken is ideal for those primarily focused on cryptocurrency trading, offering strong regulatory compliance and staking options, despite higher fees.
FXCM
Kraken
| FXCM | Kraken | |
|---|---|---|
| BrokerRank Score | 3.7/5 | 4.3/5 ✓ |
| Min. Deposit | $50 | $0 ✓ |
| Spread from | 0.2 pips | 0.2 pips |
| Max Leverage | 1:400 ✓ | 1:5 |
| Regulation | FCA, ASIC | FCA, CFTC |
| Platforms | MT4, Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
Kraken is the better choice overall, scoring 4.3/5 vs 3.7/5 on BrokerRank's independent rating. On fees, FXCM offers lower spreads (0.2 pips).
See full side-by-side comparison belowFXCM vs Kraken: Key Differences
FXCM
Kraken
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Fees Comparison
FXCM
Lower feesKraken
BrokerRank Verdict
Who Should Choose Which?
FXCM
3.7/5
Choose FXCM if you want…
- No per-trade commission
- Higher leverage (up to 1:400)
- More market types (4)
- More established (est. 1999)
Kraken
4.3/5
Choose Kraken if you want…
- Higher overall rating (4.3/5)
- No minimum deposit
Also consider
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Both FXCM & Kraken are available in
Frequently Asked Questions
1Is FXCM better than Kraken?
Kraken scores higher overall on our independent rating system. FXCM holds a 3.7/5 rating vs Kraken's 4.3/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, FXCM or Kraken?
FXCM offers spreads from 0.2 pips, while Kraken starts at 0.2 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for FXCM vs Kraken?
FXCM requires a minimum deposit of $50. Kraken requires $0.
4Which broker is safer, FXCM or Kraken?
FXCM is regulated by FCA, ASIC, while Kraken holds licences from FCA, CFTC.
5What trading platforms do FXCM and Kraken support?
FXCM supports MT4, Proprietary Web, Proprietary Mobile. Kraken supports Proprietary Web, Proprietary Mobile.
6Can I use both FXCM and Kraken?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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76% of Brokers Use Proprietary Platforms
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