Binance vs Kraken - Which Is Better in 2025 (UK)?
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Quick Answer: Which Broker Is Right for You in 2025?
Binance and Kraken are two of the most widely used global crypto exchanges. For UK users, Kraken has the edge in regulatory registration, while Binance remains one of the largest by trading volume worldwide. Both allow you to buy and sell hundreds of cryptocurrencies, though fees, features, and availability differ.
Binance vs Kraken: How Do They Compare at a Glance?
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 | 300+ 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 is best for traders prioritising low fees and global liquidity but tolerant of UK restrictions. Kraken fits UK retail investors seeking FCA registration, compliance reassurance, and a wider crypto range. Active traders may prefer Kraken Pro’s maker-taker structure; beginners may find Kraken Standard simpler despite higher costs.
What Account Types and Verification Options Do They Offer?
| Exchange | Account Types | Verification Requirements | UK Notes |
|---|---|---|---|
| Binance | Basic and Advanced | Photo ID plus proof of address | Restricted services for UK users |
| Kraken | Standard and Pro | Full KYC with ID and address | Needed for GBP deposits withdrawals and Pro access |
Which Cryptocurrencies and Trading Products Are Available?
| Exchange | Cryptocurrencies Available | Trading Products | UK Notes |
|---|---|---|---|
| Binance | 350 plus globally | Spot trading only for UK retail | Other products restricted by FCA |
| Kraken | 300 plus globally | Spot trading and Kraken Pro | Some assets may be unavailable in UK |
Which Exchange Has Higher Trading Volume and Liquidity?
Binance consistently leads global trading volumes, offering deeper liquidity across most pairs. Kraken’s liquidity is strong but smaller in scale, though adequate for UK retail use. For institutional-level depth and tight spreads, Binance has the edge. Kraken focuses on stability and compliance over maximum trading volume.
Do Binance and Kraken Offer Leverage or Derivatives?
Neither Binance nor Kraken provides leverage, margin, or derivatives to UK retail clients due to FCA restrictions. While these services exist globally, UK users are limited to spot trading only. Both exchanges comply with UK rules, meaning advanced products are unavailable unless classified as professional clients.
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 Fees and Costs Compare?
Kraken vs Kraken Pro vs Binance – UK Fees and Costs
| Fee / Cost Type | Kraken (Standard / Instant Buy / non-Pro) | Kraken Pro | Binance (UK Spot) |
|---|---|---|---|
| Trading fee model | Fixed / spread-based (≈1% all-in for instant buy) | Maker-taker model (tiered by 30-day volume) | Maker-taker model (tiered by volume) |
| Maker fee (entry tier) | N/A (included in spread) | 0.25% | 0.10% |
| Taker fee (entry tier) | N/A (included in spread) | 0.40% | 0.10% |
| High-volume discounts | Not applicable | Maker can drop to 0.00%, taker ~0.10% | Maker 0.08%, taker 0.10%, or lower with BNB / VIP tiers |
| Instant Buy / Convert / On-ramp cost | ≈1% plus any card or processing fee | Not applicable (uses order book only) | ≈0.5% for instant buy / conversion |
| Crypto deposit fees | Usually free (some network-specific exceptions) | Same as Standard Kraken | Usually free |
| Crypto withdrawal fees | Varies by asset and network (e.g. 0.00002 BTC) | Same as Standard Kraken | Varies by asset and network |
| Fiat deposit fees (GBP) | Via Faster Payments often free; card payments may include provider fee | Same funding rails as Standard Kraken | GBP deposits via Faster Payments usually free; card deposits can incur third-party fee |
| Fiat withdrawal fees (GBP) | Faster Payments ~£1.95; CHAPS ~£21; SWIFT £13–£35 | Same as Standard Kraken | Faster Payments usually free; SWIFT/CHAPS methods can incur third-party costs |
| Margin, Futures, Staking (UK) | Not available for UK retail clients | Not available for UK retail clients | Restricted for UK users due to FCA rules |
| Regulatory note | Kraken operated in UK by Payward Ltd (FCA-registered) | Kraken Pro under same entity / FCA scope | Binance Markets Ltd not permitted for UK retail promotions; access via global entity with restrictions |
Table comparing Kraken, Kraken Pro, and Binance fee structures. For sources see references section.
Key Notes
Futures Trading Fees → not relevant in the UK Not available to UK retail users.
Maker/Taker Fees → Binance advertises 0.1%, but UK retail access is restricted; Kraken Pro starts higher (0.25%/0.40%).
Deposit/Withdrawal Fees (Fiat) → Kraken supports GBP Faster Payments (free in most cases); Binance often routes via third-party, so fees may vary.
Discounts & Incentives → Binance’s BNB discounts are often not accessible for UK fiat users; Kraken’s incentives are strictly volume-based.
Is Binance or Kraken Safer to Use in the UK?
Both exchanges employ strong security standards, but regulatory positioning differs. Kraken is FCA-registered under the UK’s cryptoasset regime, while Binance is not. This gives Kraken a compliance advantage for UK retail traders, though neither platform offers FSCS protection or guaranteed coverage against losses.
Is Binance Safe and Regulated in the UK?
Binance operates globally but is not FCA-registered in the UK. Certain services have been restricted following FCA action. While it applies robust security practices, UK users face regulatory limits and no compensation scheme protection. Security is strong technically, but compliance is weaker compared to Kraken.
Is Kraken Safe and Regulated in the UK?
Kraken is FCA-registered under the UK cryptoasset regime for anti-money laundering and compliance checks. This does not equal full financial services authorisation, nor FSCS coverage. However, FCA registration adds transparency for UK users. Its strong security and UK registration make it comparatively safer for retail clients.
What Security Features and Track Records Do They Have?
Both exchanges use cold storage, two-factor authentication, and encryption. Binance has experienced regulatory challenges but maintains large liquidity. Kraken has never reported a major public breach causing customer asset loss. Both require strong user security practices, but Kraken’s longer clean record enhances its reputation for safety.
Which Platform Offers the Best User Experience?
Both platforms provide mobile apps and web interfaces. Binance prioritises advanced features and high liquidity, which may feel complex for beginners. Kraken offers a simpler Standard interface and Kraken Pro for active traders. Overall, Kraken is more beginner-friendly, while Binance better suits experienced users seeking deep market access.
How Good Is the Binance Mobile App?
The Binance mobile app is feature-rich, offering advanced charts, multiple order types, and access to hundreds of assets. However, its complexity can overwhelm newcomers. UK services are limited, so some app features are unavailable. For experienced traders, it remains powerful; beginners may find the learning curve steep.
How Good Is the Kraken Mobile App?
Kraken’s app provides two experiences: Standard for simple buy-and-sell transactions, and Pro for detailed order book trading. It supports GBP deposits and withdrawals directly for UK users. The interface is clean and easier to navigate than Binance, making it more suitable for beginners and everyday retail investors.
User Experience Summary
Binance offers advanced functionality and liquidity, but UK restrictions limit access. Kraken balances simplicity with pro-level tools and supports direct GBP funding. Beginners may prefer Kraken’s streamlined design, while professional traders may appreciate Binance’s feature depth. Overall, Kraken is more accessible in the UK retail environment.
Conclusion: Binance vs Kraken – Which Should You Choose in 2025?
Binance offers lower spot fees and unmatched global liquidity but is not FCA-registered and faces UK restrictions. Kraken, FCA-registered and offering 300+ cryptos with Kraken Pro, provides stronger compliance reassurance. For UK retail users prioritising regulation and security, Kraken is generally the safer, more accessible option.
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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
In the UK, access to crypto asset derivatives services are restricted to persons meeting the criteria for categorisation as a professional client. These services are provided by Payward Digital Solutions Limited, which is licensed by the Bermuda Monetary Authority (RN: 202403268) to conduct digital assets business in and from Bermuda. These services are not regulated or covered by investor protection measures in the UK. Access to these services is arranged by Crypto Facilities Limited, which is regulated and authorised by the Financial Conduct Authority (FRN: 757895) to make arrangements with a view to transactions in investments. For more information click here.
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FAQs
Can UK users still use Binance?
Yes, Binance still operates for existing UK customers, but since October 2023 it has stopped accepting new UK users due to FCA financial promotion rules. Current customers can continue using services subject to compliance checks, while new retail traders cannot open accounts.
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 spot trading starts at around 0.10 percent, but is unavailable to new UK users. Kraken Pro fees start at 0.25 percent maker and 0.40 percent taker, while Instant Buy is about 1 percent. For active UK traders, Kraken Pro provides the most competitive accessible option.
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 many cryptocurrencies can I trade?
Kraken lists over 490 cryptocurrencies globally, while Binance offers around 350. Asset availability depends on region, and some tokens are restricted in the UK. Kraken remains accessible to new UK customers, making it the broader option for retail users seeking diverse trading pairs.
References
- Statista. “Biggest crypto spot exchanges 2025.”
- Financial Times. “France deepens probe into Binance over alleged money laundering.”
- Reuters. “Binance under investigation by Justice Department, IRS.”
- Statista. “Crypto wallet downloads in France 2015-2023.”
- Kraken official fee schedule — https://support.kraken.com/articles/201893638-how-trading-fees-work-on-kraken
- Kraken crypto withdrawal & deposit fees — https://support.kraken.com/hc/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums
- Kraken UK fiat fees (Faster Payments, CHAPS, SWIFT) — https://support.kraken.com/hc/en-us/articles/360000507863-Deposit-and-withdrawal-fees
- Kraken Instant Buy / Convert fees — https://www.kraken.com/learn/fees
- Binance fee schedule (global / UK users) — https://www.binance.com/en/fee/schedule
- Binance UK payments & restrictions (FCA statement) — https://www.fca.org.uk/news/news-stories/binance-group-uk-consumers-warning
