Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Read more

Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Warning: The value of your virtual currencies can rise or fall sharply, and your initial investment may be lost completely; virtual currencies are not covered by the guarantee funds that cover bank deposits; there is no legal mechanism on the virtual currencies market to prevent market manipulation or insider dealing; virtual currencies depend entirely on a specific computer technology and infrastructure, which in certain cases may be very recent and not yet adequately tested; if one loses the identification code or password giving access to the virtual wallet in which the virtual currency is stored, the currency held therein will be irretrievably lost; virtual currencies are currently accepted as a means of payment to a limited extent, and in most countries there is no legal obligation to accept them; for more information about the risks associated with an investment in virtual currencies, we advise you to read the Wikifin page What is a cryptocurrency? | Wikifin.

Margin trading for clients in the United Kingdom

Last updated: 2 красавіка 2025 г.

Margin trading with fiat and fiat-backed stablecoins is restricted for certain Kraken clients (non-corporates) who reside in the United Kingdom (UK). These restrictions do not affect margin trading with other cryptoassets.

Margin trading with fiat and fiat-backed stablecoins is only available to UK clients who have declared that they qualify as high net worth borrowers or use margin wholly or predominantly for the purposes of a business. UK clients who meet these requirements are able to declare their status via the Kraken Pro web or mobile app.

To declare yourself as a high net worth borrower for margin trading:

1
Ensure your Kraken account is verified to the Intermediate or Pro level.
All new UK Intermediate or Pro clients, and all existing UK Intermediate or Pro clients, who have not previously traded margin will be asked to declare their status the first time they attempt to access margin extensions in fiat or fiat-backed stablecoins.
2
To submit your declaration, please sign in to your account via Kraken Pro (web or app).
3
If you declare as a high net worth borrower, you will be required to provide an additional accountant declaration form. Please download and fill out the form below:
Download the declaration form here
4
If step 3 applies to you, once you have completed the additional form, upload your documents via our webform here.

Important dates

From July 15, 2024, UK clients who have not declared their status will not be able to open positions using margin extensions in fiat and fiat-backed stablecoins, and will only be able to reduce or close their existing positions.

From July 31, 2024, UK clients that have not declared their status will have their existing positions opened with margin extensions in fiat and fiat-backed stablecoins closed by Kraken.

Clients may still declare their status after the dates outlined above. To do so, sign in to your account via Kraken Pro.

What are the requirements for UK clients to access margin trading with fiat and fiat-backed stablecoins?

For UK clients (non-corporates) to be eligible for margin trading with fiat and fiat-backed stablecoins on Kraken, they will need to declare that they:

1
Are a high net worth borrower with net income in the previous financial year over £150k, or having net assets over £500k in that year (an accountant will need to provide a statement of high net worth in support of your declaration); or
2
Use margin wholly or predominantly for the purposes of a business* carried on by them.

*Note: If you have a personal Kraken account, you can still choose this option.

What are the restrictions?

Type Order/Type Pairs	Pair examples	Long	Short
Fiat/Stablecoins vs. Fiat/Stablecoin	USD/USDT, USDT/GBP	Restrictions apply	Restrictions apply
Crypto vs. Fiat/Stablecoin	BTC/USD	Restrictions apply	Restrictions do not apply
Crypto vs. Crypto	BTC/ETH	Restrictions do not apply	Restrictions do not apply

Please reach out to our Support team if you have any further questions!

Margin trading for clients in the United Kingdom

To declare yourself as a high net worth borrower for margin trading:

Need more help?