Binance vs Kraken - Which Is Better in 2025 (UK)?
Quick Answer: Which Broker Is Right for You in 2025?
For cost-conscious traders seeking variety, Binance offers lower fees, higher liquidity, and more products. For risk-averse investors prioritising regulation and security, Kraken is the safer pick. Beginners may prefer Kraken’s simpler interface, while advanced traders and active futures users often lean towards Binance.
Binance vs Kraken: How Do They Compare at a Glance?
Binance lists hundreds of coins, offers advanced derivatives, and competitive fees, but faces regulatory scrutiny in the UK. Kraken supports fewer assets but is fully FCA-registered, emphasising compliance, transparency, and security, making it more attractive to traders focused on safety and legal protections.
Please note that currently Binance is not onboarding any new UK customers.
| Feature | Binance | Kraken |
|---|---|---|
| Regulation | Not FCA-regulated | FCA-regulated |
| Security | Strong, but past security breaches (2019) | Strong, no major breaches, Proof of Reserves |
| User Experience | Advanced, feature-rich, may be overwhelming for beginners | Simple, beginner-friendly, intuitive UI |
| Trading Fees | Lower fees (0.1% standard, 0.075% with BNB discount) | Slightly higher fees (0.16% standard) but transparent |
| Supported Cryptos | 350+ cryptocurrencies | 200+ cryptocurrencies |
| Fiat Support | GBP deposits/withdrawals available but can be unreliable | Strong GBP deposit/withdrawal support via Faster Payments |
| Mobile App | Powerful but cluttered | Clean and easy to navigate |
| Customer Support | Live chat & support tickets, but mixed reviews | Well-rated customer support, more responsive |
| Best For | Active traders, low-fee trading, altcoin variety | Long-term investors, security-conscious traders, fiat transactions |
Who Is Each Broker Best Suited For?
Binance suits experienced traders, futures users, and those wanting wide asset access with low fees. Kraken suits UK investors prioritising safety, transparent regulation, and a smoother experience. Beginners often prefer Kraken’s simplicity, while Binance appeals to advanced users needing tools, leverage, and market depth.
What Account Types and Verification Options Do They Offer?
| Account Type | Binance | Kraken | Verification Process | Best for |
|---|---|---|---|---|
| Personal Accounts | Yes | Yes | Quick, but ID required | General users |
| Business Accounts | Yes | Yes | More rigorous documentation | Companies & institutional investors |
| Margin Trading | Yes | Yes | Requires additional approval | Experienced traders |
| Futures Trading | Yes | Yes | Requires knowledge test | High-risk traders |
| Staking | Yes | Yes | Automatic | Passive income seekers |
Which Cryptocurrencies and Trading Products Are Available?
| Feature | Binance | Kraken |
|---|---|---|
| Cryptocurrencies | 350+ | 200+ |
| Futures Trading | Yes | Yes |
| Margin Trading | Yes | Yes |
| Staking | Yes | Yes |
| Fiat Trading Pairs | Yes | Yes |
Which Exchange Has Higher Trading Volume and Liquidity?
Binance consistently records the world’s highest crypto trading volumes, ensuring tight spreads and deep liquidity. Kraken, while smaller, maintains strong liquidity in major pairs like BTC/GBP and ETH/USD. For altcoins, Binance dominates, but Kraken offers dependable volume for key trading pairs.
Do Binance and Kraken Offer Leverage or Derivatives?
Binance offers crypto futures, perpetuals, and options with leverage up to 125x, though UK regulation restricts some features. Kraken provides futures with leverage up to 50x for eligible non-UK users. UK traders face limits due to FCA restrictions on crypto derivatives.
According to Statista, Binance accounted for over 60% of global crypto trading volume in 2024, while Kraken retained a strong foothold among security-conscious investors in the UK and EU.
How Do Spot and Futures Fees Compare?
| Fee Category | Binance | Kraken | Key Takeaway |
|---|---|---|---|
| Spot Trading Fees | 0.1% flat (discounts with BNB) | 0.16% maker / 0.26% taker | Binance is cheaper for most spot traders |
| Futures Trading Fees | 0.02% maker / 0.04% taker | 0.02%–0.05% depending on volume | Binance offers slightly lower futures fees |
| Maker Fees | 0.1% (0.075% with BNB) | 0.16% | Binance cheaper for high-frequency makers |
| Taker Fees | 0.1% (0.075% with BNB) | 0.26% | Kraken more expensive for takers |
| Deposit Fees (Crypto) | Free | Free | No difference for crypto deposits |
| Deposit Fees (Fiat) | May include small fees by method | Free or minimal depending on bank | Kraken often cheaper for fiat deposits |
| Withdrawal Fees (Crypto) | Vary by asset and network | Vary by asset, typically lower than Binance | Kraken has lower average withdrawal fees |
| Withdrawal Fees (Fiat) | Variable, higher than Kraken | Modest, generally lower than Binance | Kraken better for fiat withdrawals |
| Discounts & Incentives | 25% discount with BNB, VIP tiers, referral rewards | Volume-based fee tiers only | Binance gives more discount opportunities |
Pro Tip: If you trade frequently, use Binance + BNB for savings. If you prioritize fiat transactions or low withdrawal fees, Kraken is the better option.
Is Binance or Kraken Safer to Use in the UK?
Kraken has stronger regulatory alignment in the UK, making it more reliable for compliance-focused traders. Binance’s UK operations face restrictions, limiting features. Both exchanges employ advanced security, but Kraken’s licensing and transparency give it an edge for safety-conscious UK investors.
Is Binance Safe and Regulated in the UK?
Binance is not fully FCA-regulated. UK users face limited services and must rely on Binance’s global entity. While its security measures are strong, the lack of clear regulatory standing creates uncertainty for UK traders concerned about compliance and investor protections.
Is Kraken Safe and Regulated in the UK?
Yes. Kraken is FCA-registered and authorised to operate in the UK. This regulatory clarity ensures segregated funds, strong compliance, and higher trust levels, making Kraken one of the safest choices for UK crypto traders seeking regulated exchange services.
What Security Features and Track Records Do They Have?
Both exchanges offer cold storage, 2FA, withdrawal whitelists, and proof-of-reserves systems. Binance boasts the Secure Asset Fund for Users (SAFU). Kraken has never been hacked, strengthening its track record, while Binance has experienced incidents but improved protections significantly afterward.
Which Platform Offers the Best User Experience?
Binance delivers more advanced features, appealing to experienced traders. Kraken provides simplicity and ease of use for beginners. Both have strong mobile and desktop platforms, but the best choice depends on whether you prioritise advanced functionality or straightforward, beginner-friendly navigation.
How Good Is the Binance Mobile App?
The Binance mobile app is feature-rich, offering futures, options, staking, and advanced charts. It suits experienced traders but may overwhelm newcomers due to complexity. Frequent updates and deep functionality make it powerful but less user-friendly for beginners seeking simplicity.
How Good Is the Kraken Mobile App?
Kraken’s mobile app is streamlined and easy to navigate, making it ideal for beginners. It offers essential features like spot trading, staking, and basic charting, though it lacks the advanced tools of Binance. Its simplicity appeals to cautious or first-time investors.
User Experience Summary
| Feature | Binance | Kraken |
|---|---|---|
| Mobile App Complexity | High (Best for experienced traders) | Low (Best for beginners) |
| Desktop Interface | Advanced | Simple & clean |
| Customisation | Yes | No |
| Charting Tools | Yes | Yes |
Conclusion: Binance vs Kraken – Which Should You Choose in 2025?
For UK users, Kraken is the safer, regulation-friendly choice with reliable support and simplicity. Binance offers lower fees, more assets, and advanced tools but faces UK restrictions. Beginners and compliance-focused traders may prefer Kraken, while active, advanced users may favour Binance’s breadth.
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FAQs
Can UK users still use Binance?
Yes, but some fiat services are restricted due to UK regulations. UK users can still trade crypto, but certain GBP deposit and withdrawal options may be limited.
Is Kraken better for long-term investors?
Yes, Kraken’s FCA compliance, Proof of Reserves, and strong security measures make it an excellent choice for long-term holdings compared to Binance.
Which platform has lower fees, Binance or Kraken?
Binance generally has lower trading fees, especially when using BNB for discounts. Kraken’s fee structure is more transparent but slightly higher.
Is Binance or Kraken safer?
Kraken is safer due to FCA regulation and Proof of Reserves, ensuring that customer funds are backed 1:1. Binance has improved security but still faces regulatory concerns.
How long does it take to withdraw GBP from Binance and Kraken?
- Kraken: Faster withdrawals, usually processed within hours via Faster Payments.
- Binance: Varies, with occasional delays due to regulatory issues in the UK.
