Kraken currently offers up to 5x leverage.
Your initial used margin is going to depend on the level of leverage that you select.
|Leverage Level||Initial Used Margin|
|2x||1/2 of the position size|
|3x||1/3 of the position size|
|4x||1/4 of the position size|
|5x||1/5 of the position size|
The maximum level of leverage you can use depends on the margin pair you're trading.
The possibility of larger profits along with the risk of larger losses or margin call and even liquidation is determined by the size of the position relative to your account balance (and not merely by the level of leverage you select).
In many cases it may be better to choose the higher level of leverage, leaving more free margin in the account — so long as the trader is mindful of not getting to the point where the size of the position relative to the size of the account goes beyond their risk tolerance.
To learn more about leverage and margin, check out our Trading Guide.