Kraken Prop NASDAQ 100 rules

The NAS100 terms that differ from crypto

The number to remember is 2x leverage. Kraken’s broader Prop pages also use the phrase “up to 5x,” but that is the crypto ceiling. The product announcement gives NAS100 its own 2x figure and caps each trader at $100,000 in notional exposure.

The 24/7 schedule is a Kraken Prop product feature. It should not be confused with the regular opening hours of an exchange-traded Nasdaq instrument.

Which evaluation rules still apply

Adding a new market did not remove the core Prop limits. All plans have a 3% maximum daily loss. Advanced uses a 3% maximum drawdown and a 9% profit target. Intermediate uses 5% and 12%. Starter uses 6% and 10%.

The daily limit is recalculated at 00:30 UTC as 3% of the account balance at that time. Kraken says realised losses, unrealised losses, commissions and funding are included. The maximum drawdown is static against the initial balance. Touching either loss boundary fails the account.

This matters for an index position held outside conventional cash-market hours. Continuous access does not mean risk is continuous or predictable. A price gap or a sharp move can push equity to the loss boundary before a manual exit.

A simple exposure example

Suppose the account’s current rules allow a $40,000 NAS100 notional position. At 2x leverage, that notional represents $20,000 before leverage, but the market exposure remains $40,000. A 1% adverse move therefore produces a $400 loss before fees or financing.

That example does not define the largest permitted order for every plan. The $100,000 notional ceiling is a platform-wide maximum, while the daily and total loss rules can require a much smaller practical position.

Costs that sit inside the risk limits

Kraken Prop publishes a trading commission of 0.04% per side. Opening and closing therefore costs 0.08% of notional before any spread, slippage or funding. Funding is published as 0.033% per day and is calculated every four hours.

Because these costs count toward the loss limits, a position can approach the boundary even if the underlying index price barely moves. The relevant question is not only “Can I trade NAS100?” It is “Can my position size absorb the full round-trip cost and an adverse move without touching the 3% daily limit?”

Who this addition may suit

The market gives crypto-focused funded traders a way to trade a familiar US equity index in the same Kraken Pro interface. It may also interest index traders who value weekend access and no futures rollover.

It is a poor fit for anyone treating a $200,000 plan label as personal capital. The environment is virtual, the service is unregulated, and the trader has no ownership interest in Payward Oceanic Limited’s account or positions.