Updated September 29, 2026 · SumCue Editorial Team
Kraken vs Nexo
Kraken
Higher score in this comparison
Nexo
What sets them apart
| Compare | KrakenReviewVisitVisit | NexoReviewVisitVisit |
|---|---|---|
| Currency conversion fee | 0%Lower | 0.2% to 2.5% |
| Free ATM withdrawals | €0 | €200 to €2,000Higher |
| Cashback rate | 0.5% to 2% | 0.1% to 2% |
| Currencies | 600Higher | 100 |
| Custody | Self custody | Custodial |
Same on both: Monthly fee (€0), Card type (Debit), Card network (Mastercard).
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Key differences
- Kraken scores higher overall: 9.2 vs 8.9.
- Nexo is licensed in 4 more countries.
- Currency conversion fee is lower at Kraken: 0% vs 0.2% to 2.5%.
- Free ATM withdrawals is higher at Nexo: €200 to €2,000 vs €0.
- Currencies is higher at Kraken: 600 vs 100.
- Features: only Kraken offers Mobile app.
- Features: only Nexo offers Multi currency, Virtual card, Custodial.
- Audience: only Kraken offers Beginners, Experienced.
- Audience: only Nexo offers Business.
Our verdict on each
Kraken
Kraken suits active crypto traders who also want stocks, ETFs, forex and futures alongside digital assets, with commission free stock dealing at $0 and cover shown as EU ICS up to EUR 20,000. Support runs through help centre routes, so traders who want phone help should weigh that trade off before opening an account.
Nexo
Nexo suits businesses and crypto users who want a multi-currency card, with monthly and annual card fees of €0 and €0. The trade-off is tier-based cashback, foreign exchange costs, and custodial holding of supported crypto.
Score breakdown
| Area | Kraken | Nexo |
|---|---|---|
| Cost | 9.3HigherStock dealing costs stay lean at $0 for equity orders. | 9.2Monthly and annual card fees are €0 and €0, while foreign exchange costs are 0.2% to 2.5%. |
| Offer | 9.0Market choice spans stocks, ETFs and forex with broad coin coverage. | 9.2HigherThe card supports crypto cashback, multi-currency use, virtual cards, travel, Apple Pay and Google Pay. |
| Trust | 9.3HigherOversight links to Central Bank of Ireland, Cyprus Securities and Exchange Commission and Financial Conduct Authority with stated scheme cover. | 8.3 |
Availability and regulation
| Country | Kraken | Nexo |
|---|---|---|
| United States | SIPC SIPC member 71030 | |
| Argentina | Not confirmed | |
| Australia | Not confirmed | AUSTRAC (Australia) DCE100843695-001 |
| Hong Kong | Not confirmed | Companies Registry (Hong Kong) TC007556 |
| Ireland | Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458 IE_CBI PSD_EMI IE_CBI!C453020 | Not confirmed |
| Poland | Not confirmed | Ministry of Finance (Poland) RDWW-533 |
| Seychelles | Not confirmed |
The bill, worked out
A year with 1,000 spent abroad
Kraken
€0
12 × €0 + 0% of 1,000
Nexo
€2 to €25
12 × €0 + 0.2% to 2.5% of 1,000
Kraken costs €2 less.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 28, 2026.
What we checked
Kraken
- support.kraken.com: 6 facts, checked September 28, 2026
- kraken.com: 3 facts, checked September 28, 2026
- krak.app: 1 fact, checked September 29, 2026
Nexo
- nexo.com: 13 facts, checked September 26, 2026
How they place
| Ranking | Kraken | Nexo |
|---|---|---|
| Credit and debit cards | 327 of 1594 | 10 of 1594 |
| Debit cards | 15 of 826 | 8 of 826 |
| Crypto | 18 of 428 | 187 of 428 |
| Crypto wallets | 12 of 249 | 4 of 249 |
Every fact side by side
| Fact | Kraken | Nexo |
|---|---|---|
| Features | Crypto, Mobile app | Multi currency, Crypto, Virtual card, Custodial, Travel |
| Audience | Beginners, Experienced | Business |
| Legal entity | Not confirmed | DiPocket UAB |
| Founded | Not confirmed | 2018 |
| Support channels | Not confirmed | Chat, Email, Help centre |
Crypto exchanges
| Fact | Kraken | Nexo |
|---|---|---|
| Taker fee | 0.05% to 0.8% | Not confirmed |
| Coins listed | 728 | Not confirmed |
| Regulators | Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI) | Not confirmed |
| Fiat deposit methods | Card, Bank, SEPA, ACH, Apple pay | Not confirmed |
| Maker fee | 0% to 0.4% | Not confirmed |
| Proof of reserves | Yes | Not confirmed |
| Derivatives | Yes | Not confirmed |
| Exchange type | Cex | Not confirmed |
Crypto wallets
| Fact | Kraken | Nexo |
|---|---|---|
| Wallet type | Mobile | Mobile |
| Price | $0 | Not confirmed |
| Coins supported | 728Higher | 100 |
| Backup options | Seed | Not confirmed |
Credit cards
| Fact | Kraken | Nexo |
|---|---|---|
| Annual fee | Not confirmed | €0 |
| APR | Not confirmed | from 1.9% |
| Rewards type | Not confirmed | Cashback |
| Pricing model | Commission free | No annual fee |
| Rewards rate | Not confirmed | Up to 2% crypto cashback in NEXO Tokens, or 0.5% in BTC at Platinum tier, on purchases in Credit Mode |
| Perks | Not confirmed | Free ATM withdrawals up to EUR 2,000 / GBP 1,800 per month at Platinum tier, then 2% fee (min EUR/GBP 1.99), Apple Pay and Google Pay supported, Interest earned on unspent funds (Nexo Loyalty Program, up to 13% per year), Accepted at over 100 million merchants globally, Virtual card activated instantly with 50 USD balance; free shipping for physical card above 5,000 USD balance at Gold tier or higher, No monthly, annual or inactivity card fees |
| Cashback rate | Not confirmed | 0.5% to 2% |
| Card kind | Not confirmed | Credit |
Where each stands against the rest
| Fact | Kraken | Nexo | Median |
|---|---|---|---|
| Monthly fee | €0at the median | €0at the median | €0 |
| Currency conversion fee | 0%below the median | 0.2% to 2.5%below the median | 1% |
| Free ATM withdrawals | €0below the median | €200 to €2,000highest quarter | €4 |
| Cashback rate | 0.5% to 2%at the median | 0.1% to 2%at the median | 2 |
| Currencies | 600highest quarter | 100highest quarter | 8 |
Median across 336 listed providers.
Pros and cons
Kraken
Pros
- Commission free stock dealing at $0, below DKB at €10
- Low entry with $1 alongside fiat choice across card, bank and SEPA
- Broad venue with stocks, ETFs and forex and 728 plus published proof of reserves
Cons
- Support runs on help centre only, so you manage queries through help centre paths.
- Card funding carries extra cost within Free bank deposits, card 3.75% + 0.25, so bank routes suit cost aware deposits.
- Coin trading fees run 0.05% to 0.8%, so frequent takers should weigh volume tiers.
Nexo
Pros
- No monthly or annual card fees: €0 and €0.
- Crypto cashback is available in NEXO Tokens or BTC at Platinum tier in Credit Mode.
- Multi-currency use, virtual cards, travel, Apple Pay and Google Pay are supported.
Cons
- Foreign exchange costs are 0.2% to 2.5%, which may add to overseas spending.
- Supported crypto is held in custodial custody under custodial.
- Cashback and ATM terms depend on card tiers, so lower tiers receive less favourable benefits.
Who each suits
Kraken
Who it suits
- Active traders wanting crypto plus stocks, ETFs, forex and futures in a shared venue
- Cost aware equity investors drawn to dealing at $0 with modest entry at $1
Who should look elsewhere
- ActivTrades if you want phone led help rather than help centre paths on help centre
- DKB if you prefer bank bundled investing over crypto led coverage at 728
Nexo
Who it suits
- Businesses seeking a multi-currency card with no monthly or annual card fees.
- Crypto users comfortable with crypto cashback and custodial custody.
- Travellers who want Mastercard, virtual-card, Apple Pay and Google Pay support.
Who should look elsewhere
- bunq may suit readers whose stated foreign exchange fee range is 0.5% to 3%.
- Varo Believe Secured Credit Card may suit readers focused on a card with a stated monthly fee of $0.
- Wise may suit readers looking for a different everyday money platform, with a stated monthly fee of £0.
Country by country
| Country | Kraken | Nexo |
|---|---|---|
| Argentina | No | Yes |
| Australia | No | Yes |
| Austria | No | Yes |
| Belgium | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
8 of 36 countries where either is available.
Questions about each
Kraken
What is the minimum deposit to start with Kraken?+
You can open an account with $1, which keeps entry modest for new funders. Bank routes are available alongside card and wallet paths, so you can choose the rail that fits your timing and cost preference.
How much does Kraken charge for stocks and crypto trades?+
Stock dealing is shown as $0, which keeps equity orders lean. Crypto taker fees run 0.05% to 0.8%, so your all in cost depends on asset class, order type and monthly volume tier.
Nexo
What are the Nexo card fees?+
Nexo lists a monthly card fee of €0 and an annual card fee of €0. Its published perks also state that there are no monthly, annual or inactivity card fees.
What is the currency conversion fee?+
Foreign exchange fees are 0.2% to 2.5%. The exact amount can therefore vary, so overseas purchases and ATM withdrawals may cost more than transactions made in the card's base currency.
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