Phillip Nova vs Kraken 2026: Which Broker is Better?
Choosing between Phillip Nova and Kraken depends on your trading style, preferred markets, and budget. Phillip Nova is headquartered in Singapore, while Kraken operates from San Francisco, USA. Phillip Nova has the longer track record, established in 2005, compared to Kraken which was founded in 2011. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Phillip Nova
Kraken
| Phillip Nova | Kraken | |
|---|---|---|
| BrokerRank Score | 3.4/5 | 4.3/5 ✓ |
| Min. Deposit | $0 | $0 |
| Spread from | 0.6 pips | 0.2 pips ✓ |
| Max Leverage | 1:20 ✓ | 1:5 |
| Regulation | MAS | FCA, CFTC ✓ |
| Platforms | Proprietary Web, Proprietary Mobile, POEMS | Proprietary Web, Proprietary Mobile |
Kraken is the better choice overall, scoring 4.3/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Kraken offers lower spreads (0.2 pips).
See full side-by-side comparison belowPhillip Nova vs Kraken: Key Differences
Phillip Nova
Kraken
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Fees Comparison
Phillip Nova
Lower feesKraken
Regulation & Trust
Phillip Nova holds licences from MAS. Kraken is regulated by FCA, CFTC.
Markets & Assets
Both brokers offer access to Crypto markets. Phillip Nova additionally covers Forex, Cfd, Indices, Commodities.
Fees & Spreads
On spreads, Kraken is more competitive with EUR/USD spreads from 0.2 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS. Kraken offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
Phillip Nova requires no minimum deposit, while Kraken sets no minimum deposit. This makes Phillip Nova accessible to traders with any budget.
Overall Ratings
BrokerRank scores Phillip Nova at 3.39/5 and Kraken at 3.37/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Phillip Nova leads overall with a marginal advantage.
BrokerRank Verdict
Who Should Choose Which?
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- No per-trade commission
- Higher leverage (up to 1:20)
- More market types (5)
- More established (est. 2005)
Kraken
4.3/5
Choose Kraken if you want…
- Higher overall rating (4.3/5)
- Tighter spreads (from 0.2 pips)
- More regulatory licences (2)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both Phillip Nova & Kraken are available in
Frequently Asked Questions
1Is Phillip Nova better than Kraken?
Kraken scores higher overall on our independent rating system. Phillip Nova holds a 3.4/5 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, Phillip Nova or Kraken?
Phillip Nova offers spreads from 0.6 pips, while Kraken starts at 0.2 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Phillip Nova vs Kraken?
Phillip Nova requires a minimum deposit of $0. Kraken requires $0.
4Which broker is safer, Phillip Nova or Kraken?
Phillip Nova is regulated by MAS, while Kraken holds licences from FCA, CFTC.
5What trading platforms do Phillip Nova and Kraken support?
Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS. Kraken supports Proprietary Web, Proprietary Mobile.
6Can I use both Phillip Nova 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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