TL;DR
- Unified, crypto-native margin infrastructure for tokenized equities: Kraken Pro enables margin trading on xStocks (tokenized stocks and ETFs) using the same established margin framework that powers its crypto markets. Traders can go long or short, access up to 3x leverage, trade pair-based markets (e.g., TSLAx/USD), borrow from Kraken’s PDSL margin pools, and use eligible account balances as automatic collateral — all within a single unified account.
- Capital-efficient cross-asset exposure without liquidating crypto: xStocks margin trading allows users to maintain spot crypto holdings while deploying leveraged exposure to tokenized equities. This supports cross-asset strategies, including hedging, macro positioning, and single-name directional trades, improving capital efficiency and portfolio flexibility inside a crypto-native execution environment.
- Institutional-grade risk controls and margin mechanics: The system incorporates automated initial and maintenance margin requirements, real-time liquidation logic, margin fees accrued every four hours on borrowed amounts, position limits based on order book depth, and margin pool exposure caps — delivering structured leverage and short exposure for tokenized stocks and ETFs with integrated risk management safeguards.
Trade tokenized equities with leverage
With up to 3x leverage, a familiar pair-based trading flow, and integrated risk controls, xStocks margin trading brings equity-style exposure into a crypto-native execution environment, all within one account.
xStocks margin trading enables you to:
- Go long or short on tokenized stocks and ETFs
- Access up to 3x leverage
- Trade without selling your spot crypto holdings
- Use existing balances as automatic collateral
- Execute within Kraken Pro’s advanced trading interface
Available margin xStocks pairs
- NVDAx – tracking Nvidia Corp.
- TSLAx – tracking Tesla Inc.
- AAPLx – tracking Apple Inc.
- SPYx – tracking the S&P 500
- GOOGLx – tracking Alphabet Inc.
- GLDx – tracking the gold price
- CRCLx – tracking Circle Internet Group Inc.
- QQQx – tracking the Nasdaq 100
- MSTRx – tracking Strategy Inc.
- HOODx – tracking Robinhood Markets Inc.
All margin trading is pair-based (e.g., TSLAx/USD), mirroring our crypto margin mechanics.
One margin system for crypto and equities
Traditional equity margin trading typically requires separate brokerage accounts and dedicated capital. xStocks Margin brings tokenized equities into the same margin infrastructure crypto traders already use on Kraken Pro.
xStocks margin trading is built on Kraken’s established margin framework:
- Borrowed funds are sourced from Kraken’s margin pools (PDSL for xStocks Margin)
- Eligible balances are automatically held as collateral while positions are open
- Margin fees accrue every 4 hours, based on borrowed amounts
- Positions can be closed via:
- Opposing trade (repays loan through trade proceeds)
- Settle-position trade (direct repayment from your balance)
For experienced crypto margin traders, the flow will feel immediately familiar. For equity traders, the mechanics deliver leverage and short exposure in a crypto-native format.
Capital efficiency without liquidating spot
You no longer need to sell core holdings to access directional exposure.
xStocks margin trading allows you to:
- Maintain long-term crypto positions
- Deploy leverage tactically on tokenized equities
- Run multiple strategies simultaneously
- Hedge existing exposure
- Express macro or single-name views efficiently
This unlocks greater portfolio flexibility while keeping capital deployed.
Built-in risk management
Our infrastructure integrates multiple risk safeguards:
- Automated initial and maintenance margin requirements
- Real-time liquidation logic
- Position limits based on order book depth
- Controlled exposure via margin pool caps
These mechanisms are designed to maintain market integrity while enabling active participation.
Expanding cross-asset trading on Kraken Pro
With xStocks margin trading, we’re strengthening our position as a unified venue for active traders:
- Crypto margin traders expanding into tokenized equities
- Spot xStocks traders seeking capital-efficient leverage
- TradFi margin traders entering digital asset markets
Crypto and equities. One margin account. One platform. More flexibility.
For advanced traders who demand execution quality, leverage, and cross-asset access, Kraken Pro now delivers it in a single environment.
Leverage increases risk and may not be suitable for all investors. Margin fees fluctuate based on demand and are charged every four hours on borrowed amounts.Margin on xStocks is offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. Neither this product nor xStocks are or will be registered with any local securities regulators. Not available in the US and other geographic restrictions apply. Availability of margin trading services is subject to certain limitations and eligibility criteria. Trading using margin involves an element of risk and may not be suitable for everyone. Read Kraken’s Margin Disclosure Statement to learn more.
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