Kraken
OANDA
VS
Higher Rated
OANDA
Capital at risk · T&Cs apply
Kraken and OANDA cater to distinct segments of traders, with Kraken primarily focusing on cryptocurrency markets and OANDA offering a broader range of financial instruments, including forex and CFDs. Kraken appeals to experienced crypto traders who value regulatory compliance and robust fiat on/off ramps, despite its higher fees and limited leverage. In contrast, OANDA is well-suited for forex traders seeking a reliable, long-standing broker with no minimum deposit requirement and extensive regulatory oversight. The key difference lies in their market specialisation, with Kraken excelling in crypto offerings and OANDA providing a more diverse trading experience.
Kraken
OANDA
| Kraken | OANDA | |
|---|---|---|
| BrokerRank Score | 3.4/5 | 4.1/5 ✓ |
| Min. Deposit | $0 | $0 |
| Spread from | 0.2 pips ✓ | 0.6 pips |
| Max Leverage | 1:5 | 1:50 ✓ |
| Regulation | FCA, CFTC | FCA, CFTC, ASIC ✓ |
| Platforms | Proprietary Web, Proprietary Mobile | MT4, Proprietary Web, Proprietary Mobile |
OANDA is the better choice overall, scoring 4.1/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Kraken offers lower spreads (0.2 pips).
See full side-by-side comparison belowKraken
OANDA
WinnerKraken
OANDA
Lower fees
Kraken
3.4/5
Choose Kraken if you want…
OANDA
4.1/5
Choose OANDA if you want…
OANDA scores higher overall on our independent rating system. Kraken holds a 3.4/5 rating vs OANDA's 4.1/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
Kraken offers spreads from 0.2 pips, while OANDA starts at 0.6 pips. Check the fees section above for a full breakdown.
Kraken requires a minimum deposit of $0. OANDA requires $0.
Kraken is regulated by FCA, CFTC, while OANDA holds licences from FCA, CFTC, ASIC, MAS.
Kraken supports Proprietary Web, Proprietary Mobile. OANDA supports MT4, Proprietary Web, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.