Kraken vs Binance has no single winner. As of 14 October 2026, Binance.com charges far less to trade: 0.10% maker and taker at its entry tier, against 0.40% maker and 0.80% taker at Kraken Pro’s entry tier. On a $10,000 market order that is $10 on Binance and $80 on Kraken. Kraken has the wider regulatory footprint in the regions this site covers: it is licensed or registered in the US, the UK, the EU under MiCA and, since 6 October 2026, Dubai.
Binance has no MiCA licence and stopped taking new EU users from 1 July 2026, does not serve US residents through Binance.com, stopped onboarding new UK users in 2023, and the US Justice Department said on 9 October 2026 it is reviewing whether Binance has kept to its 2023 plea deal. Binance is licensed in Dubai and Abu Dhabi and registered in India; Kraken is not licensed in Singapore and lists no Indian entity. US readers choose between Kraken and Binance.US, a separate company.
If you are comparing Kraken and Binance, you have probably read that Binance is cheaper and has more coins while Kraken is the more regulated one. The first half still holds, but the gap is wider than most pages show: Kraken’s own fee schedule now starts at 0.40% maker and 0.80% taker, not the 0.25% and 0.40% quoted across the top results. The second half needs dates, because both exchanges’ legal positions changed in 2026.
Binance lost access to the EU market in July, and Kraken gained a Dubai licence in October. This comparison puts the two side by side on the criteria in this site’s methodology: licences by region, proof of reserves, custody, dated fees with a worked example, where you can use each one, and enforcement history. It does not pick a winner. It shows which one fits which reader, and why.
Kraken vs Binance: the short answer
Binance is cheaper to trade on and much larger. Kraken is regulated in more of the places most English-speaking readers live. As of 14 October 2026, which one fits you depends first on where you live, because in the US, the EU and the UK the choice is partly made for you: Binance.com does not serve US residents, has stopped new EU sign-ups, and has not onboarded new UK users since October 2023.
In the UAE and India both are options, with Binance holding the stronger local status. Then it depends on how much you trade, since Binance’s fee advantage grows with order size, and how much weight you give to Binance’s 2023 criminal plea and the review of it now under way.
Side-by-side: Kraken vs Binance at a glance
Each row summarises evidence set out in the sections below. Read the section before relying on any one cell.
| Criterion | Kraken | Binance (Binance.com) |
|---|---|---|
| Parent | Payward, Inc. (private) | Binance Holdings Limited |
| Entry-tier spot fee | Kraken Pro 0.40% maker, 0.80% taker; Kraken app 1% plus spread | 0.10% maker and taker; 0.075% if you pay fees in BNB |
| US residents | Served through Payward Interactive, Inc., except New York and Maine | Not served by Binance.com; Binance.US is a separate company |
| EU | MiCA crypto-asset service provider, regulated by the Central Bank of Ireland | No MiCA licence; new registrations stopped from 1 July 2026 |
| UK | FCA cryptoasset registration and e-money authorisation | New UK users not onboarded since 16 October 2023 |
| UAE | VARA licence issued 6 October 2026 | VARA licence since 15 April 2024; three ADGM entities |
| Proof of reserves | Merkle tree; latest snapshot 30 June 2026, 100.3% to 102.9% on major coins | Merkle tree plus zk-SNARK proof; page showed no snapshot date when checked |
| Largest US penalty found | $30 million to the SEC (2023) | $4.32 billion to the DOJ (2023 guilty plea), with further Treasury and CFTC resolutions |
| Open matter in 2026 | None found | DOJ review of plea compliance, confirmed 9 October 2026 |
All entries checked 14 October 2026 against each exchange’s fee, licence and support pages, the VARA register, and regulator and DOJ releases.
How this comparison works
The criteria come from the site’s methodology: track record, transparency, security practices, pricing clarity and jurisdiction coverage. For an exchange comparison they become six checks, applied to both exchanges in the same order:
- Licences and regulators by region, from each exchange’s own licence pages and regulator registers
- Proof of reserves: method, latest snapshot and limits
- Custody and insurance, labelled as company statements
- Fees, from each exchange’s own fee page, with a worked example at $100 and $10,000
- Where you can use each one, across the US, EU, UK, UAE, Singapore and India
- Incident and enforcement history, dated and sourced
There was no hands-on testing, and neither exchange paid to be included. There are no affiliate links on this page. The same structure is used in the Coinbase vs Gemini comparison.
Where you can use Kraken and Binance (checked 14 October 2026)
For most readers this table decides more than fees do. It shows the entity that serves each region and who supervises it.
| Region | Kraken | Binance |
|---|---|---|
| United States | Payward Interactive, Inc. is registered with FinCEN as a money services business (NMLS ID 1843762) and holds state money transmitter licences; its California application is pending. Kraken does not serve residents of New York or Maine. Kraken Financial holds a Wyoming bank charter. | Binance.com does not serve US residents, and its licences page lists no US entity. Binance.US is operated by BAM Trading Services Inc. (NMLS ID 1906829), a separate company (see below). |
| European Union | Payward Europe Solutions Limited is regulated by the Central Bank of Ireland as a crypto-asset service provider. Payward Europe Digital Solutions (CY) Limited holds CySEC licence 342/17. EEA clients cannot trade some tokens, including USDT. | No MiCA licence. Binance withdrew its application in Greece on 24 June 2026 and said it expected a licence “in the coming months”. New registrations stopped from 1 July 2026, and existing EU accounts were limited to closing positions and withdrawing. |
| United Kingdom | Payward Limited is registered with the FCA as a cryptoasset business; Payward Services Limited holds FCA e-money authorisation (FRN 1010381). New retail accounts face a 24-hour cooling-off period before trading. | Stopped onboarding new UK users from 16 October 2023, after its FCA-authorised promotions partner lost the right to approve its promotions. Existing users kept access at the time. No later change was confirmed in the sources checked. |
| UAE | Payward FZCO holds VARA licence VL/26/10/002, active, issued 6 October 2026, for broker-dealer and management and investment services. | Binance FZE holds VARA licence VL/24/04/001, active, issued 15 April 2024, including exchange services and virtual asset derivatives. Three Nest entities are recognised or authorised by the FSRA in Abu Dhabi Global Market. |
| Singapore | Kraken states it “is not licensed or regulated in Singapore”. | No Monetary Authority of Singapore licence appears on Binance’s licences page. |
| India | Kraken’s disclosures list no Indian entity, and no FIU-IND registration or order for Kraken was found in the sources checked. | Subject to an FIU-IND penalty order dated 19 June 2024 for operating without registration, after which it registered as a reporting entity. Not named in FIU-IND’s 9 September 2026 non-compliance notices. Details in the Binance in India guide. |
Sources: Kraken legal disclosures (last updated 11 August 2026) and Kraken’s geographic restrictions article (updated 30 September 2026); Binance’s licences page; the VARA public register; Binance’s 24 June 2026 statement as reported by Crowdfund Insider and its EU user notice on Binance Square, 25 June 2026; Investing.com, 16 October 2023; FIU-IND compliance orders page and PIB release of 9 September 2026. All checked 14 October 2026.
Is Kraken available in the US?
Yes, in most states. Kraken’s restrictions article, updated 30 September 2026, says it does not offer services to residents of New York or Maine. Elsewhere, Payward Interactive, Inc. serves US clients as a FinCEN-registered money services business with state money transmitter licences. Kraken’s banking arm, Kraken Financial, a Wyoming special purpose depository institution, received a limited-purpose account from the Federal Reserve Bank of Kansas City in March 2026, for an initial one-year term, according to Ledger Insights on 4 March 2026. Kraken calls it a master account; the Fed’s wording is narrower, and the Fed did not disclose which services the account allows.
Why can’t US citizens use Binance?
Because Binance.com holds no US licence and does not serve US residents, and its history with US regulators is the reason that matters. On 21 November 2023, Binance Holdings Limited pleaded guilty to Bank Secrecy Act violations, operating as an unlicensed money transmitting business and violating US sanctions law, and agreed to pay $4.32 billion to the Justice Department, with an independent compliance monitor for three years (DOJ release). US residents who want a Binance-branded exchange use Binance.US instead.
Is Binance.US any good?
It is a different product from Binance.com, run by a different company, so judge it on its own record. Binance.US is operated by BAM Trading Services Inc. Its trust page, checked 14 October 2026, says it is registered with FinCEN as a money services business, holds money transmitter licences in 32 states, serves users in 40 US states and territories, and keeps the majority of crypto in US-based cold storage.
Its fee page lists 0% maker and 0.02% taker fees on most spot pairs, 0% maker and 0.01% taker on BNB/USD, a 3.99% card deposit fee and a $25 wire withdrawal fee. One Click Buy and Sell is priced through a spread shown before you confirm. BAM Trading was a defendant in the SEC lawsuit against Binance that the SEC dismissed with prejudice on 29 May 2025, as a policy decision rather than on the merits (SEC litigation release 26316). Check the supported states list before you sign up; the trust page does not name the states it excludes.
Kraken vs Binance fees (checked 14 October 2026)
Both exchanges run two pricing systems. The simple buy screens (the Kraken app, Binance’s Buy Crypto and Convert) price your order with a fee and a spread built into the quote. The order-book platforms (Kraken Pro, Binance Spot) charge published maker and taker rates. A maker order adds liquidity, usually a limit order that rests on the book; a taker order removes it, usually a market order.
| Fee | Kraken | Binance.com |
|---|---|---|
| Entry-tier spot maker / taker | 0.40% / 0.80% (Kraken Pro, $0+ 30-day volume) | 0.10% / 0.10% (Regular user, under $1 million 30-day volume) |
| Paying fees in the exchange token | Not offered | 0.075% / 0.075% with the 25% BNB discount |
| Next tiers | $2,500+: 0.30% / 0.60%; $10,000+: 0.22% / 0.38%; $100,000+: 0.12% / 0.25% | VIP 1 from $1 million volume and 5 BNB: 0.09% / 0.10% |
| Stablecoin and FX pairs | 0.20% / 0.20% at entry tier | USDC pairs: 0.095% taker |
| Simple buy screen | 1% on instant and recurring buys, 1.5% on custom orders, plus spread; Kraken+ members pay no trading fee on up to $10,000 a month of app buys | Not verified for this article; check the quote before you confirm |
| Date shown on fee page | None | None |
From the Kraken fee schedule and the Binance spot fee page, checked 14 October 2026. Neither page shows an effective date, so these are the rates displayed on that day. Kraken sets your tier from the better of your 30-day spot volume or your assets on platform.
Worked example: $100 and $10,000
Assumptions: a new customer with no 30-day trading volume, buying bitcoin against US dollars or a dollar stablecoin already in the account, so no deposit fee applies. The figures are the trading fee only. On the order book there is no added spread, but the price you get depends on market depth; withdrawal network fees are extra.
| Order | Kraken Pro | Binance.com | Binance.com with BNB | Binance.US (US only) |
|---|---|---|---|---|
| $100 market order (taker) | $0.80 | $0.10 | $0.075 | $0.02 |
| $100 resting limit order (maker) | $0.40 | $0.10 | $0.075 | $0.00 |
| $10,000 market order (taker) | $80.00 | $10.00 | $7.50 | $2.00 |
| $10,000 resting limit order (maker) | $40.00 | $10.00 | $7.50 | $0.00 |
The same $100 bought through the Kraken app’s instant buy costs $1.00 in fees plus the spread, and $10,000 costs $100 plus spread, unless you pay for Kraken+. After a $10,000 trade, your next Kraken Pro trades that month move to the $10,000+ tier (0.22% maker, 0.38% taker), so a second $10,000 market order would cost $38. Binance’s rate does not change until $1 million of 30-day volume.
How much fee does Binance charge?
On Binance.com, 0.10% per spot trade for both makers and takers at the Regular tier, or 0.075% if you hold BNB and pay fees with it, per its fee page on 14 October 2026. That matches what Google’s AI Overview says. Crypto withdrawals carry a separate network fee that varies by coin.
Is Kraken cheaper than Binance?
No. On published entry-tier rates, Kraken Pro’s taker fee (0.80%) is eight times Binance’s (0.10%). Most ranking pages, Kraken’s own comparison article dated 19 June 2026, and pages cited in Google’s AI Overview still quote Kraken Pro at 0.25% maker and 0.40% taker or lower. Kraken’s fee schedule on 14 October 2026 shows 0.40% and 0.80% for new accounts, and 0.25% taker only from $100,000 of monthly volume. If you mostly trade large orders, the difference adds up quickly.
Proof of reserves and custody
Both exchanges publish a Merkle-tree proof of reserves that lets you check your own balance was included. They differ in what they show you on the page.
| Item | Kraken | Binance |
|---|---|---|
| Method | An independent accountant snapshots client balances into a Merkle tree; Kraken signs messages proving control of on-chain addresses | Merkle tree of user balances plus zk-SNARK proofs that the liabilities report was computed correctly |
| Who checks it | “Independent 3rd party accountant”, not named on the page | No auditor named on the page |
| Latest snapshot shown | 30 June 2026: BTC 102.9%, ETH 100.5%, SOL 100.6%, XRP 102.3%, ADA 100.3%, USDC, USDT and USDG 105%+ | The page did not display a snapshot date or ratios when retrieved on 14 October 2026 |
A proof of reserves is a snapshot of one day. It does not show the exchange’s other debts or whether the assets were pledged elsewhere, and it says nothing about the days after the snapshot. The Kraken safety review and the Binance safety review go through each method’s limits and Binance’s SAFU reserve in detail.
On custody, both make company claims you cannot check independently. Neither exchange’s balances are covered by deposit insurance. Binance.US says on its trust page that “FDIC and SIPC do not cover digital assets at any exchange.” Binance’s own reserve fund, SAFU, covered its one exchange hack in full in 2019, but it is a fund Binance controls, not a policy you can claim on.
Enforcement and incident history
Kraken
| Date | What happened | Outcome |
|---|---|---|
| 9 February 2023 | SEC: unregistered offer and sale of a staking-as-a-service programme advertising returns of up to 21% | $30 million paid; barred from offering staking as a securities offering in the US |
| 12 December 2024 | ASIC: Bit Trade, Kraken’s Australian operator, offered a margin extension product to more than 1,100 customers without a target market determination | A$8 million penalty plus costs; the court described “a seriously deficient compliance system” |
From SEC press release 2023-25 and ASIC media release 24-274MR, checked 14 October 2026. Kraken’s other regulatory actions since 2021, and its 2024 and 2026 security incidents, are set out in the Kraken safety review; none involved a confirmed loss of client crypto.
Binance
| Date | What happened | Outcome |
|---|---|---|
| 7 May 2019 | Hackers used stolen user API keys and 2FA codes to withdraw 7,000 BTC from Binance’s bitcoin hot wallet | Covered in full from SAFU; Binance said no user funds would be affected |
| 21 November 2023 | Guilty plea to Bank Secrecy Act, unlicensed money transmitting and sanctions offences | $4.32 billion to the DOJ; three-year independent monitor; separate Treasury and CFTC resolutions |
| 29 May 2025 | SEC lawsuit against Binance, BAM Trading and Changpeng Zhao | Dismissed with prejudice as a policy decision |
| 27 March 2026 | Federal Court of Australia penalty against Binance Australia Derivatives for classing retail clients as wholesale | AUD 10 million penalty plus costs (ASIC release 26-055MR) |
| 24 June to 1 July 2026 | Withdrew its Greek MiCA application; new EU registrations stopped | No EU licence as of 14 October 2026 |
| September 2026 | US civil forfeiture complaint over about $61 million allegedly laundered from Iranian oil sales by two Chinese firms using Binance accounts | No wrongdoing alleged against Binance in the complaint; Binance says it removed both firms |
| 9 October 2026 | Tysen Duva, head of the DOJ Criminal Division, confirmed officials are reviewing Binance’s compliance with the 2023 settlement | No new charges filed |
Checked 14 October 2026 against the Binance announcement of 7 May 2019, the DOJ release of 21 November 2023, SEC litigation release 26316, Crowdfund Insider (24 June 2026), and BeInCrypto’s report of 10 October 2026 on Bloomberg’s interview. The 2026 Australian penalty is as set out in the Binance safety review.
The two records point to different risks. Kraken’s actions concern product design: staking and leverage offered without the required registration or controls. Binance’s concern the company’s anti-money-laundering and sanctions controls, and the 2023 plea is still active: if the DOJ finds a breach, it could reopen the settled case.
Is Kraken good for crypto?
It depends on what you need. Kraken publishes licence disclosures by entity, a dated proof of reserves, and has regulatory permissions in the US, UK, EU and now Dubai. Against that, its entry-tier fees are high next to Binance’s, it does not serve New York, Maine or Singapore, and it has paid regulatory penalties in the US and Australia. If you want regulated access in the US, UK or EU and trade modest amounts, Kraken fits. If fees are your main criterion, it does not.
Which platform is better than Binance?
There is no general answer, because “better” depends on the criterion. On fees, few exchanges match Binance’s 0.10% entry tier, and for US residents Binance.US’s published taker rate is lower still. On regulatory standing in the US, UK and EU, Kraken is ahead of Binance as of 14 October 2026. For a ranking of US exchanges on the same five criteria, see the best US exchanges list.
Which fits which reader
- You live in the US: Binance.com is not an option. Compare Kraken (not in New York or Maine) with Binance.US on fees, state coverage and record.
- You live in the EU: Kraken holds a MiCA licence; Binance has stopped new registrations since 1 July 2026.
- You live in the UK: Kraken is FCA-registered. Binance has not onboarded new UK users since October 2023.
- You live in the UAE: both hold VARA licences, Binance since April 2024 with exchange and derivatives permissions, Kraken since 6 October 2026 with broker-dealer permissions.
- You live in India: Binance has gone through FIU-IND’s process; no Kraken registration was found. Check the platform’s FIU-IND status before you deposit.
- You live in Singapore: Kraken says it is not licensed there, and no MAS licence appears for Binance.
- You trade large orders often, where Binance serves you: Binance’s 0.10% rate costs $10 per $10,000, against $80 at Kraken Pro’s entry tier.
- The 2023 plea weighs on you: Binance’s compliance with it is under DOJ review as of October 2026; Kraken has no comparable open matter in the sources checked.
What this means for you
As of 14 October 2026, Kraken vs Binance is a trade between cost and regulatory standing, and where you live narrows it before you start. Binance is much cheaper at every order size shown here and holds licences in Dubai and Abu Dhabi, but it has no EU licence, does not serve US residents or new UK users, and is under DOJ review over its 2023 plea. Kraken costs more to trade at the entry tier, but is licensed or registered in the US, UK, EU and Dubai and publishes a dated proof of reserves.
Neither exchange’s balances are insured. Before you deposit, check which entity will hold your account in your country, read the fee page on the day you trade, and keep only what you are actively trading on any exchange. If you move coins to your own wallet, learn how to store a seed phrase first. Exchange comparisons on this site are reviewed monthly, and sooner after a hack, delisting or enforcement action.
For the full evidence on each platform, see Is Kraken Safe? and Is Binance Safe?, the Coinbase vs Gemini comparison, or browse the Exchanges section.
