Crypto Exchange comparison
Kraken vs OKX
Kraken has been operating in Australia since 2011 and holds an AFSL, while OKX only launched locally in 2024. The biggest practical difference is that Kraken offers SMSF accounts and Australian tax statements, making it far more suited to serious local investors, whereas OKX brings a demo account, zero-minimum deposits and more advanced auto-invest options for crypto-first traders.
Choose
Kraken
if…
- ›You want an SMSF or trust account — Kraken supports both; OKX does not offer SMSF accounts
- ›You need an Australian tax statement to simplify your end-of-year reporting
- ›You prefer a longer track record — Kraken has been operating since 2011 and holds AFSL 545124
- ›You want phone support alongside live chat — Kraken offers 24/7 phone support
- ›You want to deposit as little as $5 and keep costs predictable with no minimums on subsequent purchases
Choose
OKX
if…
- ›You want to try before you buy — OKX offers a demo account to practice trading
- ›You want zero minimums on deposits and purchases, with no lower bound at all
- ›You want more sophisticated auto-invest options — OKX supports multiple-asset DCA strategies
- ›You trade options or CFDs — OKX supports both; Kraken does not offer CFDs
- ›You want near-instant AUD withdrawals via PayID or Osko, typically under 30 minutes
Where they differ
| Fact | Kraken | OKX |
|---|---|---|
| Year founded (AU) | 2011 | 2024 |
| AFSL number | 545124 | 379035 |
| SMSF account | Yes | No |
| Australian tax statement | Yes | No |
| Demo account | No | Yes |
Verdict
Choose Kraken for regulatory maturity, SMSF support and tax reporting; choose OKX for zero minimums, a demo account and advanced DCA.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Kraken | OKX |
|---|---|---|
| account structure | ||
| Individual account | Yes | Yes |
| Joint account | No | No |
| Company account | Yes | Yes |
| Trust account | Yes | — |
| SMSF account | Yes | No |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | — | No |
| ASX ETFs supported | — | No |
| US shares supported | — | No |
| US ETFs supported | — | No |
| Fractional shares (ASX) | — | No |
| Fractional shares (US) | — | No |
| Options trading | — | Yes |
| CFDs supported | — | Yes |
| Crypto trading | Yes | Yes |
| Managed funds | — | No |
| Bonds supported | — | No |
| IPO access | No | No |
| costs hidden | ||
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | Bit Trade Pty Ltd (trading as Kraken) | OKX Australia Pty Ltd |
| AFSL number | 545,124 | 379,035 |
| AUSTRAC registration | Yes | Yes |
| Year founded | 2,011 | 2,024 |
| Parent / ownership | Payward, Inc. (Bit Trade Pty Ltd acquired by Kraken in 2020) | OKX Group (Seychelles-headquartered global crypto exchange, formerly OKEx) |
| Country of incorporation | AU | AU |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $5 | $0 |
| Minimum subsequent purchase | $5 | $0 |
| Deposit methods | PayID, Osko bank transfer, Debit card (mobile app), Credit card (mobile app), Apple Pay, Google Pay | PayID, Osko, bank transfer, debit/credit card (via Simplex, MoonPay, Banxa), crypto deposit |
| Settlement period | — | instant (crypto settles on-chain confirmation; AUD via PayID near-instant) |
| Withdrawal time | AUD withdrawals via Osko bank transfer typically same business day (PayID withdrawals not yet supported) | near-instant via PayID/Osko (under 30 minutes typical) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | No | No |
| 2FA support | authenticator | authenticator |
| Customer support channels | 24/7 live chat, email, support portal, phone (24/7) | email, live chat, in-app help centre |
| Support hours (AU time) | 24/7 (live chat and phone) | 24/7 live chat and email support |
| Education content | video + courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| Distribution component breakdown | — | No |
| CGT calculator / report | No | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | single asset | multiple |
| After-hours / overnight trading | Yes | Yes |