Quick Pick

Kraken sets four things when your pick opens, and you can’t change any of them:

• Leverage is 10x.

• The take-profit is a price level in your favor, calculated from the price at which your pick opens. If the price reaches it, your pick closes.

• The stop-loss is a price level against you, calculated from the price at which your pick opens. If the price reaches it, your pick closes.

• The time limit is 24 hours in the EEA and RoW and 1 hour in the US.

If you want to choose your own leverage, take-profit, and stop-loss, use the Perps ticket. It’s available in the EEA and other select regions only.

Before you confirm, the ticket shows two figures. Neither one is guaranteed. Tap the info icon next to each label for an explanation.

• Max payout is the target amount if your take-profit fills at its trigger price. Fees, funding, and slippage can reduce what you receive.

• Stop loss shows the price at which your pick closes if the market moves against you, and the estimated loss at that price. It’s an estimate: fees, funding and slippage can make your actual loss larger.

When your take-profit or stop-loss is reached, your pick closes at the best price available at that moment. This can be better or worse than the trigger price. It may also fill only in part in fast or thin markets. Your actual result can be higher or lower than the figures on the ticket. Quick Pick does not guarantee that your loss will stay at or below the Stop loss figure. You can lose some or all of the amount you use, so only use money you can afford to lose.

Your pick closes on its own at whichever comes first:

• Your take-profit is reached.

• Your stop-loss is reached.

• The time limit ends.

You can also close an open pick early at the available market price. To do so, swipe to cash out on your open pick. You can do this from the pill, the asset page, or the Quick Picks section of Portfolio. Early close isn’t guaranteed. It depends on the market being open and a fill being available.

When your pick closes, the result stays on the asset page and in the Quick Picks section of Portfolio.

Quick Pick doesn’t add a new fee. It uses the existing futures fees for your region. Fees are charged when your pick opens and again when it closes, and the ticket shows them before you confirm.

• In the EEA and RoW, the trading fee is a percentage of your position size, which is your amount multiplied by 10.

• In the US, per-contract exchange, NFA, commission, and clearing fees apply on each side.

While your pick is open, funding accrues and can be paid or received. If your position is liquidated before your stop-loss fills, a liquidation fee applies.

Fees can take a meaningful share of a small pick, because the price has to move in your favor enough to cover them before you break even.

Quick Pick is funded from your cash balance. It uses USD as collateral: if your fiat balance isn’t in USD, it’s converted to USD automatically when your pick opens; if your balance is in crypto, sell some for USD first.

EEA and RoW: Only the USD you allocate to your pick is used as collateral for that position. Your other balances aren’t.

US: The USD for your pick is moved to your NinjaTrader futures account. Margin in that account is held at the account level, so other funds in that account may also be used to support your position. Your other Kraken balances aren’t used as collateral.

Quick Pick is available in the Kraken app on iOS and Android. The time limit, opening hours, assets, and onboarding differ by region.

Quick Pick may be unavailable for some assets at times.

With Quick Pick, you choose the direction and the amount, and Kraken sets everything else. With the standard futures ticket, you choose your own leverage, set your own take-profit and stop-loss, and manage the position yourself. The standard futures ticket is available in the EEA and RoW only.

A few limits apply to Quick Pick:

• You can have one Quick Pick per asset at a time.

• In the EEA and RoW, you can’t hold a Quick Pick and a standard futures position on the same asset at the same time.

• You can’t change the leverage, take-profit, stop-loss, or time limit.

If you can’t open a Quick Pick, check that:

• you’re using the Kraken app on iOS or Android, since Quick Pick isn’t available on web or in Kraken Pro

• you’ve met the requirements for your region (see the availability table)

• your cash balance covers your amount and fees

• you don’t already have a pick open on that asset (in the EEA and other select regions, a standard futures position on that asset also blocks it)

• you don’t have a position open on that asset in Kraken Pro (close it there first)

• in the US, you’re opening during set hours each day, so every pick ends before the market’s daily close

• Quick Pick is available for that asset and has reached your account, since it can be unavailable for an individual asset at times

If you’ve checked everything and still can’t open a pick, contact Support.

Quick Pick is a leveraged futures product. The risks below are important to understand before you make a pick.

• You can lose some or all of the amount you use. Leverage of 10x magnifies gains and losses alike.

• Max payout and Stop loss are not guaranteed. Take-profit and stop-loss orders can fill at a better or worse price than the trigger, or only in part. Your actual loss can be larger than the Stop loss figure.

• Your position can be liquidated. If the market moves against you quickly, your position can be liquidated before your stop-loss fills. A liquidation fee applies.

• Early close is not guaranteed. Closing early depends on the market being open and a fill being available.

• Your pick closes at the time limit. It closes automatically after 24 hours in the EEA and RoW, or 1 hour in the US, at the price available then, even if the price has moved against you.

• Fees and funding. Fees apply when your pick opens and closes. Funding accrues while it is open and can be paid or received. Fees can take a meaningful share of a small pick.

• Market volatility and thin markets. Crypto prices can move quickly. In thin markets, fills can be far from the price shown.

• Tax. Tax may be payable on any return. Seek independent advice on your tax position if you are not sure how this affects you.

Only use money you can afford to lose, and only if you are comfortable with the risks of leveraged trading.

Product. Quick Pick is a simplified way to open leveraged futures positions with fixed settings. It does not provide investment advice or a personal recommendation.

Trading venue. In the EEA and RoW, orders are executed on Crypto Facilities Limited (CFL), a UK FCA-regulated multilateral trading facility. In the US, orders are routed through NinjaTrader Clearing, LLC and executed on Bitnomial Exchange, LLC, a CFTC-designated contract market, and cleared through a CFTC-registered clearing organization.

EEA service provider. Futures services are provided by Payward Europe Digital Solutions (CY) Limited (PEDSL-CY), authorised and approved by the Cyprus Securities and Exchange Commission (CySEC), licence number 342/17. PEDSL-CY is not your counterparty.

RoW service provider. Payward Digital Solutions Ltd. is licensed to conduct digital asset business by the Bermuda Monetary Authority.

US futures account. Your futures account is with NinjaTrader Clearing, LLC, a CFTC-registered futures commission merchant and NFA Member (NFA ID: 0309379).

Funds and collateral. Your pick uses USD collateral moved from your cash balance.

Risk disclosure and terms:

• EEA: PEDSL-CY Terms of Service

• RoW: PDSL Client Agreement

• US: NT Terms of Service