Margin trading restrictions for clients in Australia

Margin trading using extensions in fiat is now restricted for Kraken clients who reside in Australia, unless they are classified as a Wholesale Investor (as defined by the Corporations Act 2001). These restrictions do not affect margin trading using extensions in cryptoassets.

Margin trading using extensions in fiat is only available to Australian clients who demonstrate that they meet the definition of a Wholesale Investor as set out in the Corporations Act 2001 (see Requirements section below). Australian clients who meet this requirement must provide supporting evidence via this form to access margin trading using extensions in fiat.

Kraken is committed to expanding its product offering and is working on additional eligibility pathways for fiat margin extensions in the coming months.

From August 30, 2024, Australia clients who have not qualified as a Wholesale Investor will not be able to open positions using margin extensions in fiat and will only be able to reduce or close their existing positions.

Clients may still demonstrate their Wholesale Investor status after the above date. To do so, please provide supporting evidence via this form.

For Australia clients to be eligible for margin trading with fiat on Kraken, they will need to demonstrate that they are a wholesale investor as outlined below.

Pair Types

Pair Examples

Buy to open a long position*

Sell to open a short position

Crypto vs. Crypto

BTC/ETH,
BTC/USDT

Restrictions do not apply

Restrictions do not apply

Crypto vs. Fiat

BTC/AUD,
USDT/AUD

Restrictions apply

Restrictions do not apply

* No restrictions apply to closing or reducing existing margin positions. Clients will always be permitted to enter trades to buy back existing shorts or sell out existing longs.

  1. 1

    Ensure you have a verified Kraken account.

  2. 2

    Meet one of the criteria set out in the Wholesale Investor Criteria section below.

  3. 3

    Complete our Wholesale Qualification form via web.

Wholesale Client Category: Individual Wealth

Applies to both Corporate and Individual clients.

To apply as a Individual Wealth Individual, at least one of the following criteria must be met:

  • •

    Your net assets are at least 2.5 million AUD

  • •

    Your gross annual income for each of the last 2 financial years was at least 250,000 AUD

If you are a Business Applicant and your business does not qualify under the Large Business Test, then you may qualify as a "Controlled Entity". As a Controlled Entity we need to assess all "Controlling Individuals" associated with the business. As a Controlled Entity, at least one of the following criteria must be met:

  • •

    The net assets of the Controlling Individual are at least 2.5 million AUD

  • •

    The gross annual income of the Controlling Individual for each of the last 2 financial years was at least 250,000 AUD.

Supporting Documents Required:

  • •

    Copy of a certificate issued by a qualified accountant* (including ABN) within the preceding 2 years confirming that you meet at least one of the listed criteria.

    *Qualified Accountant as defined by s88B of Corps Act (member of a specified professional body)

Wholesale Client Category: Professional Investor

Applies to both Corporate and Individual clients.

As a Professional Investor at least one of the following criteria must be met:

  • •

    Financial services licensees. This exemption does not extend to directors, officers, senior managers, or authorised representatives of a licensee. Accordingly, this category is limited to the actual licence holder only.

  • •

    Listed entities and any related body corporate of a listed entity.

  • •

    A body regulated by APRA, other than a trustee of any of the following (within the meaning of the Superannuation Industry (Supervision) Act 1993): a superannuation fund, an approved deposit fund, a pooled superannuation trust, or a public sector superannuation scheme.

  • •

    A person is a registered entity within the meaning of the Financial Sector (Collection of Data) Act 2001.

  • •

    The trustee of any of the following (within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million): a superannuation fund (excluding SMSF), an approved deposit fund, a pooled superannuation trust, or a public sector superannuation scheme.

  • •

    A person or entity that has or “controls” gross assets of at least $10 million, including any amount held by an associate or under a trust that the person manages. An exempt public authority.

  • •

    An exempt public authority.

  • •

    A body corporate that carries on a business of investment in financial products, interests in land or other investments; and for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, the terms of which provided for the funds subscribed to be invested for those purposes.

  • •

    Person that is a foreign entity that, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.

Supporting Documents Required:

  • •

    Supporting evidence of at least one of the listed criteria selected.

Wholesale Client Category: Large Business

Applies to Corporate clients only.

You must provide evidence that the business enterprise is not a small business. To meet this criterion, the business must be employing:

  • •

    100 or more people if the business is or includes the manufacture of goods; or otherwise, 20 or more people.

  • •

    Or you must be a related body corporate of a company that passes one of the categories above.

Supporting Documents Required:

  • •

    Statement executed by the directors of the business to confirm the number of employees employed by the business.

None of the categories above

By selecting this option, you are unable to access our futures platform. If you wish to submit the application as a Wholesale Client in the future, you will need to provide necessary evidence.

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

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