At a glance
- Instant buy, sell or convert
- 1% fee
- Kraken Pro
- Maker/taker, tiered by 30-day volume
- Card, Apple Pay or Google Pay
- Extra 3.75% + 25c
- PayID deposit (A$5 minimum) and withdrawal
- $0 Kraken fee
Kraken Pro maker/taker fees depend on 30-day volume. Card, Apple Pay and Google Pay purchases add 3.75% + 25c on top.
What stands out
- Two routes in one account: a simple app and Kraken Pro, with lower fees for active traders.
- Free, near-instant AUD deposits and withdrawals by PayID and Osko.
- Regular Proof of Reserves checks by an independent accounting firm.
- A member of the Australian Financial Complaints Authority (AFCA).
What to weigh up
- The 2024 Federal Court penalty of A$8 million against Bit Trade, its Australian operator.
- Instant buys cost 1%, and card purchases add 3.75% + 25c on top.
- Kraken holds no Australian financial services licence for its exchange services, according to its disclosures.
- Kraken Pro's tier tables take some reading to work out your actual rate.
Kraken vs Kraken Pro: choose your route
In the main Kraken app, instant buys, sells and conversions cost a flat 1%. Kraken Pro is the trading interface with an order book and maker/taker fees tiered by 30-day volume, which are typically well below 1% for the same trade. At a notional A$1,000 trade, the instant route costs A$10 in fees.
- If you're buying regularly, it's worth learning Kraken Pro.
- Check the current tier table, because the published maker and taker rates change from time to time.
Funding: PayID is the cheap route
Australians can deposit and withdraw AUD with PayID and Osko for free, usually within minutes. The minimum PayID deposit is A$5, and the bank account must be in the same name as your Kraken account.
- Buying with a card, Apple Pay or Google Pay adds 3.75% + 25c on top of the trading fee.
- For most people, depositing by PayID first is far cheaper.
The 2024 court penalty
In August 2024, the Federal Court found that Bit Trade Pty Ltd, Kraken's Australian operator, had failed to meet design and distribution obligations for its margin extension product, after action by ASIC. ASIC said more than 1,100 Australians were issued the product, which it treated as a credit facility.
- In December 2024 the court ordered Bit Trade to pay a A$8 million penalty.
- The case concerned a margin product, not ordinary spot buying, but it's relevant context for how the business handled Australian compliance.
Regulation, reserves and complaints
Kraken's disclosures say Bit Trade is registered with AUSTRAC as a digital currency exchange and holds no Australian financial services licence for its exchange services. It is a member of AFCA, so you can take an unresolved complaint to an external dispute body.
- Kraken publishes Proof of Reserves checks carried out by an independent accounting firm.
- Kraken itself notes their limits: they compare reserves with client balances at a point in time and can't prove everything about key control.
- They're a helpful signal, not a guarantee.
Nodora’s take
Kraken suits people who want a large global exchange with free PayID transfers and a lower-cost Pro interface. The instant 1% route and card surcharge make it expensive if you don't use Kraken Pro, and the 2024 penalty is worth weighing.
Before opening an account, decide whether you'll use Kraken Pro, check your likely fee tier and compare final quotes. We have not opened or funded an account as part of this review. Nodora has an affiliate relationship with Kraken and may earn commission if you sign up through our link; that has no effect on this review or its rating.
Kraken questions, answered
What is Nodora’s Kraken invite link?
Nodora’s Kraken invite link is https://invite.kraken.com/JDNW/5j5fry91. It contains the reference 5j5fry91. Use it before you register, because referrals usually can’t be added afterwards.
What fees does Kraken charge in Australia?
Instant buys, sells and conversions in the Kraken app cost 1%. Kraken Pro uses maker/taker fees tiered by 30-day volume. Card, Apple Pay and Google Pay purchases add 3.75% + 25c.
Is Kraken legal and regulated in Australia?
Kraken operates in Australia through Bit Trade Pty Ltd, which its disclosures say is registered with AUSTRAC as a digital currency exchange. It holds no Australian financial services licence for exchange services, but it is an AFCA member.
Why was Kraken fined in Australia?
After ASIC took action, the Federal Court found in 2024 that Bit Trade breached design and distribution obligations for its margin extension product, and ordered a A$8 million penalty.
Can I deposit AUD to Kraken with PayID?
Yes. PayID and Osko deposits and withdrawals are free, with a A$5 minimum deposit. The bank account must be in the same name as your Kraken account.
Does Nodora earn a commission from Kraken?
Yes, it may. Nodora has an affiliate relationship with Kraken, and the signup links on this page are affiliate links. Commission plays no part in the review or its rating, and we have not verified a signup bonus for the person joining.
More on Kraken: fees explained · is it safe?
Sources & last check
Checked 26 October 2026. Provider material describes the provider’s own service; it is not independent verification of safety or performance.
- Kraken Australia fee schedule
- Kraken support: Australia FAQ
- Kraken support: Cash deposit options, fees and minimums
- Kraken: Kraken vs Kraken Pro
- Kraken Australia legal disclosures
- Kraken Proof of Reserves
- ASIC 24-186MR: ASIC wins case against Kraken crypto exchange operator
- ASIC 24-274MR: Kraken crypto exchange operator to pay $8 million
