Kraken Securities
Last Updated Jul 3, 2026
Last Updated Jul 3, 2026
Kraken Stocks offers commission-free trading in 11,000+ US-listed stocks and ETFs on NYSE, NASDAQ, and AMEX to US-resident Kraken clients. You fund from a single Kraken account holding cash, stablecoins, and crypto. The trading service is provided by Kraken Securities LLC, the introducing broker. Your funds and securities are carried in your own name at Alpaca Securities LLC, the designated clearing firm.
What you hold is the actual US-listed share as its beneficial owner. The service is self-directed, with cash and margin accounts available and fractional shares supported.
⚠ Introducing broker affiliated with Kraken. Kraken Securities LLC is wholly owned by Payward, Inc., Kraken's parent. The broker you trade through is the exchange's own subsidiary; the affiliate relationship sits at the order-routing layer.
✓ Execution and custody are independent. Alpaca Securities executes, clears, and custodies your shares. It is independent of the Kraken group.
Kraken Securities and Alpaca are SIPC members. If the carrying broker fails and customer assets are missing, SIPC covers securities and cash in member customer accounts up to $500,000, including a $250,000 cash limit. Your brokerage account is carried at Alpaca in your own name on a fully-disclosed basis, so SIPC reaches you directly.
Alpaca publishes Lloyd's excess-SIPC coverage of $75 million in securities and $75 million in cash per Alpaca customer, with a $250 million aggregate firm cap. Kraken's own SIPC disclosure describes standard SIPC protection only and does not mention Lloyd's or excess coverage at the carrying broker.
Cash held on the money-services side at Payward Interactive is not SIPC-protected. FDIC pass-through applies where relevant. Opening a brokerage account automatically enrolls you in Alpaca's fully-paid securities-lending program until you opt out in Settings. Shares actually on loan under that program lose SIPC protection; in its place you hold collateral, the standard arrangement at US brokers that run fully-paid lending.
You own the real US-listed share as its beneficial owner.
Alpaca carries your account in your own name and holds the share for you. Kraken does not custody customer assets.
| Time | Tradable |
|---|---|
| Regular hours9:30am–4:00pm ET | Yes |
| Round-the-clockKraken Pro | Yes |
| App tier outside regular hours | No |
| Weekend | No |
On Kraken Pro, stocks and ETFs trade round-the-clock, Monday through Friday. In the app tier, orders placed outside regular hours are queued to the next market open.
| Item | Detail |
|---|---|
| Commission | None on stocks and ETFs |
| FINRA Trading Activity Fee (on sells) | $0.000166 per share, capped at $8.30 per trade |
| SEC Section 31 fee (on sells) | $20.60 per $1M of principal |
| Outbound ACATS transfer | $100 |
| Inbound ACATS transfer | Free; Kraken reimburses up to $100 of the originating broker's fee on transfers of $5,000 or more |
| Direct registration (DRS), in or out | $125 per security |
| ETF expense ratio | Charged by the fund |
Kraken's revenue on this line comes from payment for order flow, margin interest, and ancillary fees shared by Alpaca. The affiliate money-services business may earn interest on idle customer cash.
This product is for US residents only, except Maine and New York.
| Region | Detail |
|---|---|
| Restrictedcannot use | Maine and New York: currently unavailable to residents (operational exclusion; Kraken Securities holds registrations in both states). All countries and territories outside the United States. |
| Allowedcan use | US residents in the United States, the District of Columbia, Puerto Rico, and the US Virgin Islands. Kraken Securities holds state registrations covering all 50 states. |
Also required: Stocks trading is individual-only; business accounts are not supported.
The binding eligibility is whatever Kraken communicates on the platform and may be amended.