Kraken Prop is a crypto evaluation program launched inside Kraken Pro in May 2026, with entry prices from $20, no stated time limit and payout processing advertised under 24 hours. Its trade-off is strict: a 3% daily loss limit, fees inside the drawdown calculation and a funded stage that remains virtual and unregulated. Advanced leaves only 3% maximum drawdown.
What stands out
BID- Entry prices start at $20confirmed
- No evaluation time limit or consistency rule is announcedadvertised
- Crypto, NASDAQ 100 and Kraken Pro integrationconfirmed
- Payout review is advertised within 24 hoursadvertised
What to consider
ASK- All plans use a 3% maximum daily losshard limit
- Advanced has only 3% maximum drawdownhard limit
- Commission and funding count toward the limitshard limit
- The funded stage is virtual and unregulatedconfirmed
- Kraken's own country pages disagree on where Prop is availablewatch
Verdict
Kraken Prop deserves attention because it combines a recognisable exchange interface, more than 60 advertised crypto pairs and a newly added NASDAQ 100 market. It is easier to inspect than many small prop firms: prices and main risk limits are public, the evaluation has no stated time limit, and the payout workflow goes into the trader’s main Kraken wallet.
The plan labels can be misleading if read only as account sizes. A $100,000 Advanced evaluation has a fixed $3,000 maximum drawdown. If its balance is exactly $100,000 at the 00:30 UTC reset, its MDL amount for the new day is also $3,000. That daily dollar amount changes when the reset balance changes. The trader never controls $100,000 of personal or client capital.
Plan comparison
| Plan | Profit target | Daily loss | Max drawdown | Best fit |
|---|---|---|---|---|
| Advanced | 9% | 3% | 3% | Very controlled strategies seeking the lowest fee |
| Intermediate | 12% | 3% | 5% | More total room, higher target and price |
| Starter | 10% | 3% | 6% | Maximum total buffer, no $200k option |
Advanced is not automatically the best value because it is cheaper. Its profit target is three times the maximum drawdown. Intermediate asks for a 12% target with a 5% drawdown. Starter costs more but allows 6% total drawdown.
The right comparison is target divided by usable loss budget, then adjusted for fees and the way the strategy holds positions.
Current base prices
| Size | Advanced | Intermediate | Starter |
|---|---|---|---|
| $5,000 | $20 | $33 | $45 |
| $10,000 | $40 | $65 | $85 |
| $25,000 | $95 | $150 | $215 |
| $50,000 | $180 | $280 | $400 |
| $100,000 | $330 | $545 | $800 |
| $200,000 | $660 | $1,090 | Not offered |
The optional 90% profit share adds 20% to these prices. It is bought at the start. A trader who expects only a small first payout may not recover that upgrade quickly, while a consistent trader could.
Read that upgrade price in English before you pay. On 4 September 2026, Kraken’s own support article on Prop plans and pricing quoted the 90/10 upgrade at 20% of the base plan price in its English version and at 10% in its French version, with every other sentence identical. Crypto Prop Guide follows the English figure, because the English article is the reference version of Kraken’s support pages, and publishes the gap rather than hiding it: a French-speaking reader who budgeted for 10% and is charged 20% deserved the warning. Kraken can correct either side without notice, so check the price on the purchase screen.
How the loss rules work
The short version is below. The long version, with the reset arithmetic plan by plan, sits in our breakdown of every Kraken Prop rule.
At 00:30 UTC, Kraken recalculates the maximum daily loss as 3% of the account balance at that time. The resulting dollar limit moves up after profit and down after loss. Realised losses, unrealised losses, commissions and funding all count. The maximum drawdown is static against the starting balance and does not trail profits upward.
That static total drawdown is a positive feature. The daily rule remains the most immediate constraint because every plan uses the same 3% figure. A position left open across the reset still carries market and funding risk.
Touching the threshold is a breach. A plan should therefore use an internal stop comfortably inside the official limit rather than treating 3% as a daily risk allowance.
Fees make high turnover harder
These are the Prop-side costs. The Kraken Pro ladder that applies to your ordinary trading is a different schedule, compared in what Kraken actually charges per trade.
The published commission is 0.04% per side. A complete open and close costs 0.08% of notional before spread and slippage. Funding is 0.033% per day and is calculated every four hours.
On $100,000 of round-trip notional, commission alone is $80. Ten equivalent round trips would be $800, or 0.8% of a nominal $100,000 plan. Since fees count toward the loss boundaries, frequent trading can consume a meaningful part of the 3% daily allowance.
Payout process
The trader must close all positions and orders and have balance equal to equity before requesting a payout. Full identity verification and the funded agreement are required. Kraken says reviews usually take less than 12 hours and processing is guaranteed within 24 hours.
The payment is credited to the main Kraken wallet in USD or USDG. “Within 24 hours” is the published service target, not the same as an instant, on-chain payment.
Is the funded account real?
No, not in the sense of a brokerage account owned by the trader. Kraken’s legal terms say the evaluation and funded environment use virtual funds. The trader has no ownership or proprietary interest in Payward Oceanic Limited’s account, funds, positions or assets.
Payward Oceanic Limited may decide to use selected signals for market-facing trades. That possibility does not change the trader’s legal position. This distinction belongs in any serious Kraken Prop review because it affects how readers should interpret the account size and regulatory protection.
Final assessment
One question this page deliberately does not answer: whether a discount code exists. It does not, and we explain what the invite code really is rather than pretend otherwise.
Kraken Prop is most convincing for disciplined crypto traders who already know Kraken Pro and can operate well inside a 3% daily boundary. The low Advanced price is attractive, but the 3% total drawdown makes it unforgiving. Starter offers more total room at a much higher fee. Intermediate sits between them but has the highest target.
Our view is positive on transparency and platform integration, neutral on value until a strategy’s turnover is modelled, and cautious on the virtual, unregulated funded structure. Check eligibility and current prices before paying.
Primary sources
Questions and answers
Is Kraken Prop a real prop firm?
Kraken Prop sells simulated evaluations and a virtual funded arrangement. Payward Oceanic Limited may use selected signals on the market, but the trader does not own the account or positions.
How much does Kraken Prop cost?
Base prices checked on 4 September 2026 ranged from $20 for a $5,000 Advanced plan to $1,090 for a $200,000 Intermediate plan.
What is the Kraken Prop profit split?
The standard split is 80% to the trader. A 90% option is available at purchase for 20% more than the base evaluation price.
How fast does Kraken Prop pay?
Kraken says payout reviews usually take under 12 hours and are processed within 24 hours, provided positions and orders are closed and the account passes review.
Does Kraken Prop have a time limit?
No maximum evaluation duration is currently announced.