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:
- 4.If step 3 applies to you, once you have completed the additional form, upload your documents via our webform here.
Important dates
What are the requirements for UK clients to access margin trading with fiat and fiat-backed stablecoins?
What are the restrictions?
Please reach out to our Support team if you have any further questions!