Backpack vs Kraken Pro Comparison
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 0.4 % |
| ~€5.75 | Cost for €1,000 | € 4.10 |
| ~50+ | Cryptos | 380+ |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Instant Transfer, SEPA Transfer, PayPal, Credit Card |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | - EU: MiCA - USA: CFTC - UK: FCA |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, including all fees and spreads.
| ~€5.75 | Cost for €1,000 | € 4.10 |
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 0.4 % |
| Not disclosed | Wallet transfer | € 1.49 |
| No; tiers + hidden swap costs | Cost transparency | Yes |
| Unclear | Minimum Amount | € 5 |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Instant Transfer, SEPA Transfer, PayPal, Credit Card |
Pros & Cons
- Low maker fees starting at 0.08% and taker fees starting at 0.10%
- Staking is available
- Wallet and exchange in one ecosystem
- VARA license in Dubai
- Cost transparency is seen as room for improvement – hidden costs occasionally criticized
- Wallet transfer fees are not disclosed
- No savings plan available
- Swap fees of 0.85% occasionally criticized
- Volume-based maker/taker fees from 0.25% / 0.40%
- Pro order types: stop-loss, take-profit, trailing stop, iceberg, OCO
- Margin trading up to 5x (selected pairs up to 10x)
- Full-featured API: REST and WebSocket v2 incl. Level 3 order book
- Shared account with standard Kraken -- no transfer required
- Active in the market since 2011 with unchanged security record
- Learning curve compared to the standard interface has room for improvement
- Margin availability regionally restricted within the EEA
- Futures run on a separate derivatives platform with own onboarding
- Lowest fee tiers only reachable from high 30-day volume onward
Features
| ✓ | Savings plan | ✓ |
| ✓ | Staking | ✓ |
| ✓ | Wallet transfer | ✓ |
| ✓ | Cost transparency | ✓ |
| ✓ | 2FA security | ✓ |
| ✓ | SEPA transfer | ✓ |
| ✓ | Credit card | ✓ |
| ✓ | Minimum amount | ✓ |
| ✓ | Mobile app (iOS/Android) | ✓ |
| ✓ | Web platform | ✓ |
| ✓ | Maker/Taker Model | ✓ |
| ✓ | Margin Trading | ✓ |
| ✓ | Futures/Derivatives | ✓ |
| ✓ | Order Types | ✓ |
| ✓ | API | ✓ |
| ✓ | Charts | ✓ |
| ✓ | Mobile App (Pro Mode) | ✓ |
| ✓ | Asset Selection | ✓ |
| ✓ | 2FA Security | ✓ |
| ✓ | Cold Storage | ✓ |
- Maker fees starting at 0.08% are considered low
- VARA license in Dubai
- Wallet and exchange on one platform
- Volume-based fee model from 0.25% maker / 0.40% taker
- Pro order types including iceberg and OCO bracket
- Margin trading with up to 5x leverage across 150+ markets
- API access for REST and WebSocket v2
Details
| Trek Labs (FTX ties) | Company | Payward Inc. |
| Dubai (VARA) | Headquarters | — |
| 2023 | Founded | 2011 |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | - EU: MiCA - USA: CFTC - UK: FCA |
| Unclear | Minimum Amount | € 5 |
| Yes | KYC | Photo ID, VideoIdent |
Verdict
In our overall rating Kraken Pro leads with 4.4 against 2.1 for Backpack.
For most investors Kraken Pro is therefore the better choice.
Backpack is operated by Trek Labs, a team that also includes former FTX employees. The exchange holds a VARA license in Dubai, but does not have EU regulation – according to comparison data, EU access is provided via FTX EU. The low maker fees starting at 0.08% and the integration of wallet and exchange in one ecosystem are appreciated by users.
Cost transparency is seen as room for improvement – in particular, the undisclosed wallet transfer fees and swap fees of 0.85% are occasionally criticized. The selection of around 50 cryptocurrencies is limited compared with larger exchanges, and the lack of a savings plan limits the options for long-term investors.
The connection to former FTX employees is viewed differently in the market. Backpack is aimed primarily at technically savvy users who are looking for low trading fees and integrated wallet features and are willing to make compromises on cost transparency, coin selection, and regulatory coverage in the EU.
Kraken Pro is the separate trading interface from Kraken (pro.kraken.com and Pro mode in the mobile app) and is aimed at active traders. Unlike the standard platform with flat 0.99% fees, the volume-based maker/taker model applies here, starting at 0.25% maker and 0.40% taker, decreasing as 30-day volume rises. Account, verification, and asset balances are shared between both interfaces.
The order set covers market, limit, stop-loss, take-profit, trailing stop, iceberg orders, and bracket/OCO combinations. Margin trading is offered with up to 5x leverage depending on the pair, with selected assets reaching 10x. The availability of margin and derivatives is tied to MiFID II requirements in some EEA countries and is handled via Payward Europe Digital Solutions. Charts, order book, and API access (REST and WebSocket v2) are described in user reviews as sufficient for active strategies; the learning curve compared to the standard interface is occasionally criticized.
Kraken Pro is considered particularly suitable for active traders who value pro order types, lower volume-based fees, and margin features. Those primarily looking for savings plans or simple spot investing will find a more fitting setup on the standard interface. This comparison does not constitute investment advice.