Kraken Prop adds six commodities and halves non-crypto commissions

The change covers six commodity markets

Kraken’s announcement lists gold, silver, WTI oil, Brent oil, copper and natural gas. Non-crypto commission on plans other than Lite falls from 4 basis points to 2 basis points per side. Crypto commissions remain unchanged. The commodity feature is available in jurisdictions where Kraken Prop operates, excluding the UAE. Leverage and notional caps differ by plan, so a maximum cited for one tier does not apply to all users. The company identifies the service as unregulated and states that evaluation fees become non-refundable once trading begins.

Fee impact

Two basis points equals 0.02%. On a $50,000 notional signal, the fee is $10 on entry and $10 on exit if notional size is unchanged. At 4 basis points per side, the total would be $40 instead of $20. This illustrates the fee change, not expected profit. Strategies must account for price movement, spreads, evaluation rules and other costs. Lower transaction costs benefit high-frequency activity but do not offset adverse price outcomes on their own, and the benefit depends on trade frequency and size.

Simulated exposure, not asset ownership

Kraken’s product page presents commodities within its Prop program. A participant is not buying gold, taking delivery of oil or entering a conventional futures position by using the interface. The participant’s claim is against the program under its terms, including evaluation criteria, drawdown limits and payout conditions. A large simulated account number is not a withdrawable cash balance. Any payout follows the program’s rules rather than the displayed account size.

Quoting outside venue hours

A service can display reference prices when conventional venues are closed, but quality and responsiveness then depend on its pricing methodology and available data. A visible price is not evidence of deep executable liquidity in the underlying physical or futures market, which is relevant when commodity news arrives outside normal sessions.

Key assessment points: the exact contract being referenced, how performance is calculated, how unusual market conditions are treated and the steps from successful evaluation to an actual payment. The expansion broadens the range of signals participants can submit and adjusts a specific part of the cost structure. It should be understood as simulated trading capacity rather than ownership of commodities or a guarantee of income.