Kraken, a long-standing cryptocurrency exchange founded in 2011, has introduced Kraken Prop, a proprietary trading program designed to offer traders the opportunity to manage funded wallets with minimal risk. The program allows traders to purchase a one-time evaluation, aiming to reach a profit target within specified loss limits in a simulated environment. Successful traders can then manage a funded wallet of up to $200,000, retaining up to 90% of the profits generated. Since its launch in May 2026, Kraken Prop has distributed over $6 million in payouts.
The program's standout feature is its low-risk structure. The only financial exposure for traders is the evaluation fee, starting at $20 for a $5,000 wallet. Evaluations have no time limits, and there are no profit caps or strategy restrictions. Funded wallets range from $5,000 to $200,000, with profit shares of up to 90% once qualified. Trading occurs within the Kraken Pro interface, and payouts are available on demand, typically within 24 hours, directly to the trader’s Kraken account.
However, there are some limitations. The program enforces strict risk rules, including a 3% maximum daily loss and a maximum drawdown of between 3% and 6%. Breaching these limits results in the closure of the wallet. Additionally, API trading is not offered, and evaluation fees are non-refundable once trading begins. Kraken Prop operates as an unregulated service, with proprietary capital allocated by Payward Oceanic Ltd.
Traders can access 60+ crypto and equity indices pairs, including the Nasdaq 100, with simulated leverage of up to 10x on crypto pairs and 2x on the Nasdaq 100. The program offers Starter, Intermediate, and Advanced plans, each with varying profit targets and drawdown limits. For instance, a $100,000 wallet costs $800 on Starter, $545 on Intermediate, and $330 on Advanced. Trading fees include a 0.04% commission per side and a swap fee of 0.033% of notional value per day for positions held across rollover.