US futures on Kraken: regulation, products, and eligibility
US futures on Kraken are provided through Kraken Derivatives US, a CFTC-registered Futures Commission Merchant and NFA member.
As a US trader, you can access four CME-cleared micro contracts: MBT (Micro Bitcoin), MET (Micro Ether), MES (Micro E-mini S&P 500), and MNQ (Micro E-mini Nasdaq-100), all from one platform.
Kraken's acquisition of NinjaTrader further expanded Kraken's futures offering, especially in the US market.
CME Group is the world's leading derivatives marketplace, comprising four designated contract markets: CME, CBOT, NYMEX, and COMEX, covering equity indices, crypto, commodities, metals, energy, and FX.
What is Kraken Derivatives US?
Kraken Derivatives US is a Futures Commission Merchant registered with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).
After acquiring NinjaTrader in 2025, Kraken leverages its FCM license to offer margin and futures in the US, along with NinjaTrader's existing US retail futures trading platform. Kraken clients now benefit from the ability to trade these products in America under CFTC regulation.
As a US client, you can now trade perpetual futures on Kraken. Non-US clients can trade perps through Kraken Derivatives. Either way, clients know they are trading via a regulated entity and a platform that is highly secured and offers industry-leading products via a user-friendly interface.
What is Kraken Derivatives EU?
Kraken Derivatives EU operates under the Markets in Crypto-Assets (MiCA) regulatory framework. Through its MiCA authorization, Kraken is licensed to offer crypto futures to eligible clients across the European Economic Area (EEA).
Building on its established European presence, Kraken extends its derivatives capabilities to EU traders through a MiFID II–compliant infrastructure, combined with the deep liquidity and product expertise that Kraken Derivatives is known for globally.
As an EU client, you can access perpetual futures with leverage, margin tools, and risk controls tailored to the European regulatory environment. Eligibility, leverage limits, and available contracts may vary by country in line with local rules. Whether you're trading from Germany, Italy, Spain, or elsewhere in the EEA, you can do so on a regulated, MiCA-compliant platform built around security, transparency, and a user-friendly experience.
About NinjaTrader
NinjaTrader is a leading US retail futures trading platform. Founded in 2003 and now with a community of over two million traders, it built its reputation on professional-grade tools, low commissions, and deep market access. It was recognized as the Best Futures Broker by BrokerChooser for both 2025 and 2026.
Kraken acquired NinjaTrader in May 2025, the largest deal ever combining crypto and traditional finance. NinjaTrader continues to operate as a standalone platform under the Kraken product suite, while its FCM infrastructure powers the futures offering available to US traders through Kraken Derivatives US.
What NinjaTrader brings to the table:
- Advanced charting and execution tools. The platform offers customizable charting, footprint charts, volume profile, and the SuperDOM for one-click order execution. These are tools built for active futures traders who need speed and precision.
- Simulated trading. You can trade with paper money on the live feed before putting real capital at risk, useful for testing strategies or getting familiar with a new contract.
- Commissions as low as $0.09 per micro contract. With a Lifetime License ($1,499 one-time), micro contract commissions drop to $0.09 per side, making position sizing with micros very cost-effective. A free tier is also available.
- Free Level 1 CME market data. Verified non-professional clients receive free Level 1 CME market data. Professional clients can purchase Level 2 subscriptions.
- Desktop, web, and mobile. NinjaTrader is available across all three, giving you access to your positions while on the move and from a range of devices.
The regulatory framework: CFTC and NFA
The CFTC (Commodity Futures Trading Commission) is the US federal regulator for derivatives markets. CME-cleared contracts you trade through Kraken Derivatives US are CFTC-regulated instruments. The NFA (National Futures Association) is the self-regulatory body for the US derivatives industry, and NinjaTrader Clearing, LLC is an NFA member.
Trading CME-cleared contracts through Kraken Derivatives US carries the same regulatory framework and counterparty risk protections as trading these contracts through any other CFTC-registered FCM in the United States.
What futures products you can access as a US user
Through Kraken Derivatives US, you connect to CME, CBOT, NYMEX, and COMEX. The table below outlines the four micro CME contracts that are available at launch:
Contract | Underlying | Size |
|---|---|---|
MBT (Micro Bitcoin Futures) | Bitcoin | 1/10 of one BTC per contract |
MET (Micro Ether Futures) | Ethereum | 1/10 of one ETH per contract |
MES (Micro E-mini S&P 500) | S&P 500 Index | 1/10 of the standard ES contract |
MNQ (Micro E-mini Nasdaq-100) | Nasdaq-100 Index | 1/10 of the standard NQ contract |
Beyond these four micro contracts, Kraken Derivatives US connects to the full CME exchange infrastructure, giving you access to equity index, FX, commodity, metals, and energy contracts.
For a full breakdown of how micro contracts compare to standard CME contracts, see micro vs standard contracts: MBT, MET, MES, MNQ.
What's not available to US users
The US regulatory structure means some Kraken products are served through different entities with different eligibility. xStocks perps are not currently available to US users.
Eligibility and account requirements
Kraken Derivatives US is available to clients in the United States only. To get access, your account needs to meet both of the following requirements:
Verification: You will need a verified Kraken account.
Geography: Kraken Derivatives US is only available to clients in the United States.
How Kraken Derivatives US connects to CME markets
Kraken Derivatives US connects you directly to CME futures markets through its regulated FCM infrastructure. That means the same counterparty risk protection and regulatory framework as trading these contracts through any other CFTC-registered broker in the United States, from the Kraken Pro interface alongside your existing crypto spot positions.
Margin for Kraken Derivatives US positions is maintained in a separate Kraken Derivatives US account. During trading hours, intraday margin requirements apply; initial (overnight) margin follows exchange-set levels. You move funds from your Kraken spot wallet to fund the Derivatives US account.
Verified non-professional clients receive free Level 1 CME market data. Professional clients can purchase Level 2 data subscriptions.
Start trading futures on Kraken
Futures are derivative contracts that allow you to speculate on the price movement of assets without needing to actually own them.
Frequently Asked Questions (FAQs)
Disclaimer
The educational material on this page is for information only and does not constitute an offer to trade futures. Kraken Futures is provided by a different licensed Kraken entity depending on where you live. Derivatives are complex instruments that carry a high risk of rapid losses due to leverage. You should not risk money you cannot afford to lose. Tax treatment depends on your individual circumstances and may change. Geographic restrictions may apply and can change without notice. Kraken products and services may not be covered by investor-compensation or deposit-protection schemes. Nothing on this page is investment, legal or tax advice. Access is subject to eligibility, local regulation and the terms of service for the legal entity you face.
Futures trading involves substantial risk and is not suitable for everyone. Losses may exceed the initial investment. Past performance is not necessarily indicative of future results. View Risk Disclosure Statement.
NinjaTrader Clearing, LLC d/b/a NinjaTrader is a CFTC-registered futures commission merchant and an NFA Member (NFA ID: 0309379). View Disclosures: ninjatrader.com/disclosures/
No offer or solicitation to buy or sell securities, derivatives, or any other financial product is being made, and no investment advice or recommendation is provided or endorsed by NinjaTrader.