As of 5th October 2020 (“Launch Date”), access to Kraken Futures will be provided through a new legal entity, Payward Brokers Pte. Ltd. (“Payward Brokers”), a subsidiary of the Payward Group (known as Kraken).
Please find below FAQs on the upcoming product offering.
Where is Payward Brokers based?
Payward Brokers is based in Singapore.
Is Payward Brokers regulated?
Payward Brokers is not regulated by the Monetary Authority of Singapore (“MAS”) or any other regulator. This means you are not afforded regulatory protection when trading via Payward Brokers. However, some of the products offered by Payward Brokers are regulated by virtue of being listed on a regulated trading venue.
Are there any restrictions on who can trade via Payward Brokers?
Clients located in Singapore, the US or any other prohibited country will not be able to trade via Payward Brokers. You can find more on the eligibility criteria to access Payward Brokers on our Kraken Futures eligibility and availability support article
Do I need a Kraken account to trade Futures via Payward Brokers?
Yes, you require an active account with Kraken that is verified to the intermediate verification tier or higher. For more info, visit our support page Kraken Futures eligibility and availability
What products will be available via Payward Brokers?
Payward Brokers will provide access to the Futures products listed on the Crypto Facilities trading platform, which is authorised and supervised by the FCA. Details of Crypto Facilities’ Futures can be found at Contract Specifications and Margin Schedule.
Are Payward Brokers going to list new products?
Yes! New products are coming soon - watch out for upcoming announcements.
How can I fund my account?
You can fund your Futures Account simply by initiating an internal transfer from your Kraken wallet.
How would I withdraw funds?
If you wish to withdraw your funds, simply transfer them back to your Kraken wallet and withdraw them as usual.
What is the leverage I will be able to use?
You will be able to use up to 50x leverage. Soon we will be announcing new products with even higher leverage.
Can I carry a negative balance?
No, the systems we have in place will not allow you to ever have a negative balance. This means you cannot lose more than your deposit.
Will I be charged a fee to my Futures account?
Deposits and withdrawals to and from your Futures account are free of charge.
Are there any fees to trade?
Trading fees will be similar to those currently offered by Kraken Futures. A fee schedule will be posted on the website before the Launch Date.
Do you have any other questions? Please contact us at:
- Telegram: https://t.me/kraken_futures