|Easy to use||No order book|
|Leverage of up to 150||Does not support the exchange of cryptos into fiat|
|Low trading and exchange fees||No regulation|
|Multiple deposit methods|
Trader’s Viewpoint of StormGain
With the rate at which StormGain is growing, there is a likelihood that it will overtake leading crypto trading platforms such as Binance, CoinBase, and BitMEX soon. This platform is already top rated on most review sites and is widely covered in the mainstream media. StormGain was founded in 2019. It is the official sleeve partner of Newcastle United.
The platform provides three core services, namely leveraged crypto trading, regular and instant crypto exchange, and a multi-currency crypto wallet. It is among the few exchanges in the industry that allows direct deposits from debit and credit cards. Moreover, it trades with a multiplier of up to 200 times, which is currently the highest in the industry.
StormGain is also among the few crypto exchanges that offers crypto investment opportunities at a guaranteed APR of 10%. The funds saved through the platform are used to provide leverage to traders. As we will see in this review, StormGain has the most competitive trading fees. It also has one of the best trading platforms in the industry.
The registration process with this platform is also quite straightforward. Unlike most exchanges, StormGain does not require users to go through the tedious and time-consuming KYC process.
StormGain Review Introduction
StormGain is a crypto broker and exchange platform founded in the Seychelles in 2019. The platform’s core services include a regular and instant exchange, leveraged crypto trading, and a multi-currency crypto wallet. StormGain was founded in 2019 and has gained popularity since then to become a recognised brand name among crypto exchanges.
Its top competitors include popular exchanges including BitMex, Huobis, Binance, Coinbase, and Kraken. StormGain has a lot to offer when compared to most of these exchanges. Even though this platform is relatively young in the market, it has managed to build a name for itself. The mainstream media has widely covered it, including Yahoo Finance, Finance Magnates, Goal.com, CryptoDaily, SportsPro, Bitcoin.com, and CryptoPotato.
Last year, Finance Magnate nominated as best Multi-Asset Trading Platform and Best Emerging Fintech Startup. Moreover, the platform continues to assert itself as an industry leader through high-level sponsorships. StormGain is currently an official sleeve partner of Newcastle United.
Regarding target markets, this platform is accessible in most countries apart from the US, Canada, Japan, Syria, Vanuatu, Yemen, Afghanistan, Ethiopia, North Korea, Uganda, Iran, Tunisia and a few others. You can determine if it is available in your country by attempting the signup process. The signup process with StormGain is secure and straightforward.
With this platform, users are not required to go through the tedious and time consuming Know Your Customer (KYC) process to use this platform. For the record, the KYC process mostly involves uploading a government-issued ID and a recent bank statement or utility bill for verification. With some exchanges, the process can take up to 24 hours.
Who does StormGain Appeal to?
Unlike most exchanges and crypto trading platforms, StormGain platform is easy to use for the beginner as well as experienced traders. Moreover, the platform comes with a wide range of educational resources to help users to set up an account and trade, invest, or transact cryptos. For crypto traders, the platform comes with risk management features, including ‘stop-loss’ and ‘take-profit’. These features enable the trader to define the level of risk they are willing to take.
StormGain is the platform for you if you are looking to invest or trade cryptocurrencies. For the record, crypto investors focus on long-term price growth while crypto trading involves short-term speculation on crypto volatility. Traders can make money in both the bull and the bear market while investors only profit through price appreciation. The investors may also earn interest on their assets.
Crypto investment through StormGain is suitable for those who do not have skills or time to trade. The platform pays a 10% APR on BTC, ETH, BCH, USDT and XRP deposits. Simply put, the platform allows crypto savings through the mentioned cryptos and pays the specified rate as interest. Like in any other saving account, the funds saved with StormGain are risk-free.
Crypto traders who choose this platform can trade over 17 different crypto futures. Even better, they can trade at a leverage of up to 150. StormGain is recommended to traders with a minimal budget, given that the minimum account balance required is 50 USDT. This translates to $50, given that the USDT is hedged to the USD at a ratio of 1:1.
StormGain Account Types
StormGain provides a loyalty program that categorises users into five types of accounts. These account types include Standard, Gold, Platinum, Diamond, and VIP. The standard account is the most basic one and requires a deposit of below 500 USDT. Moreover, unlike other account types, there is no minimum trading volume required to trade with this account type. Also, this account type does not provide a trading commission discount and attracts an exchange commission of 0.08%.
Gold account type holders, on the other hand, must have a trading balance of above 500 USDT and a trading volume of above 150,000 USDT. The benefits associated with this account include a bonus deposit of 5%, a trading commission discount of 5%, and an exchange commission of 0.08%. A trading volume of 150,000 USDT is equivalent to $150,000, and hence those who make it to this level can be said to be experienced traders.
The Platinum account requires a minimum trading balance of 1499 USDT and a trading volume of 750,000 USDT. Regarding benefits, traders who achieve this level get to enjoy a 10% trading commission discount, a 10% bonus deposit, and an exchange commission of 0.07%. More benefits are accrued in the Diamond account which provides a trading commission of 15%, a deposit bonus of 15% and an exchange commission of 0.07%. Users must have a trading balance of above 4,999 USDT and a trading volume of above 2,250,000 USDT to enjoy the benefits of the Diamond account.
The pinnacle of all account types is the VIP account. A trading balance of above 9,999 USDT and trading volume of 7,500,000 USDT is needed to get the VIP status. Those who hold this account type get to enjoy a trading commission discount of 20%, a bonus deposit of 18%, and an exchange commission of 0.07%.
Market and Territories Covered by StormGain
As mentioned in the introduction, StormGain was founded in 2019 in London, England. StormGain LTD, a company registered in London, operates the platform. Since its inception, StormGain has grown to expand operations internationally, covering some parts of Europe, Asia, South America, and Africa.
However, the platform is restricted in some areas. These include the US, Japan, Canada, Vanuatu, Afghanistan, Syria, Uganda, Tunisia, Turkey, Ethiopia, Iran, Yemen, Trinidad and Tobago, Lao PDR, Bosnia and Herzegovina, and Guyana. Some of these countries have regulations in place that discourage crypto derivatives trading. Others have a weak financial system and hence pose a lot of risks to StormGain.
You need to try the signup process here to determine if StormGain is available in your country. It may also be a good idea to chat its customer service before opening an account. As mentioned earlier, StormGain does not fall under any regulatory body. However, its approach to business makes it a trusted brand across the globe. For instance, its partnership with Newcastle United is enough evidence of its willingness to operate under public scrutiny.
The StormGain platform is available in over 10 languages. These include English, Spanish, Dutch, French, Italian, Polish, Portuguese, Turkish, Korean, Vietnamese, Chinese, and Russian. StormGain has recently joined the FinaCom’s Blockchain Association, a self-regulating body whose members include companies transacting in digital assets.
StormGain Instruments, Leverage and Spreads
As mentioned above, StormGain provides leveraged crypto trading, regular and instant exchanges, and a multi-currency crypto wallet. Regarding trading, users gain access to over 17 different crypto futures in six cryptos (BTC, LTC, BCH, XRP, ETH, and USDT). Moreover, they can trade at a multiplier of up to 200 times.
Such a level of leverage means that traders can take positions worth up to 200 times their invested capital. StormGain offers the highest level of leverage when compared to competitors. It is worth noting that high leverage is a double-edged sword that magnifies both the profits and losses. Beginner traders should not trade with high leverage.
The minimum deposit with this platform is 50 USDT, and the minimum trade is 10 USDT. All transactions on the StormGain ecosystem are denominated in USDT (Tether). For the record, Tether is hedged to the USD at a ratio of 1:1. Unlike BTC, ETH, and many other major cryptos, the USDT is stable enough to make a good case for a medium of exchange.
StormGain does not charge any spreads on crypto trading. Instead, traders pay a commission of between 0.15% and 0.25% depending on the crypto pair traded. The 0.15% is for Tether (USDT) pairs while the 0.25% is for the BTC pairs. A commission of between 0.08% and 0.25% is also charged on instant exchange services.
Unlike most exchanges, StormGain charges a fee for long and short positions daily. The Swap Buys attract a daily rate of -0.04% for all trading pairs while the Swap Sell attracts a daily rate of 0.004% for all USDT pairs. BTC pairs carry a daily Swap Sell rate of -0.04%. When compared to the likes of BitMEX, Kraken, and Binance, StormGain charges the lowest daily rate for Swap Sell positions.
StormGain Fees and Commissions
StormGain’s none-trading fees include withdrawal fees and bank card deposit commissions. As mentioned earlier, StormGain allows users to buy crypto directly from the platform using debit or credit cards. The platform charges a commission of 5% on every debit or credit card deposit. Any credit/debit card commission must be 10 (USD/EUR) and above. The minimum deposit with a bank card is $50 while the maximum is $20,000.
Crypto deposits are free, but a withdrawal fee of 0.1% applies for USDT, BTC, BCH, ETH, LTC, and XRP. The minimum amount of withdrawal is 50 USDT, 0.0059 BTC, 0.15 BCH, 0.3 ETH, 0.8 LTC, and 240.0 XRP. StormGain does not allow fiat currency withdrawals. When compared with most other crypto exchanges, this platform has the most transparent fee mechanism.
StormGain Trading Platforms
StormGain has a proprietary trading platform available in web, desktop, and mobile versions. The desktop version is compatible with Windows, Mac, and Linux OS. Moreover, the web-version is compatible with all major browsers and is accessible from smartphone and tablet devices.
The StormGain trading platform is highly intuitive and easy to use for all, including beginner traders. As mentioned earlier, StormGain’s main competitors are mostly suited for experienced traders. Moreover, the majority are only available in web-trader versions.
For instance, there are a lot of reviews on TrustPilot complaining about the complexity of Binance and BitMEX trading platforms. Moreover, there are a lot of complaints about Binance UI bugs. Some users report serious issues such as not being able to close positions or place orders due to these bugs. The system crashes are associated with an increase in trading activity.
We haven’t identified such complaints about StormGain. Most of those who have reviewed this platform report a great experience. StormGain comes with additional risk management features such as ‘stop loss’ and ‘take profit’. These features enable users to define the level of risk they are willing to take per trade.
Also available is ‘auto-increase’, a feature that automatically adds to a losing trade to prevent it from getting liquidated. Moreover, traders can monitor the status of their live trades on StormGain through the ‘My Open Trades’ feature. Through this feature, users can monitor the details of their trade, including the current profit/loss and when the trade was opened.
As mentioned earlier, StormGain also provides a free wallet that is connected directly to its exchange. The wallet allows users to receive and send crypto directly and easily. Moreover, the wallet supports all the major cryptos. To use the wallet, go to the wallet section on StormGain website, download it and finish the signup process.
The StormGain platform is adequately encrypted to ensure data safety and users are required to adhere to strict safety measures when signing up on the platform. StormGain is also compliant to the EU General Data Protection Regulation (GDPR).
Mobile Trading with StormGain
StormGain mobile trading apps are available on for IOS and Android for free on the Google Play Store and the App Store. The mobile app comes with all the features found in the web and desktop versions. Moreover, it is easy to access the demo account through the mobile app rather than the desktop or web trader.
Also, the mobile app has a notification and tracking link system to notify the user of trading opportunities as they arise. Furthermore, the app is lightweight and secure and hence doesn’t compromise the performance of the device.
StormGain is available in over 10 languages, including English, French, Dutch, Italian, Polish, Portuguese, German, and Spanish.
StormGain Crypto Trading Platform
StormGain is a leveraged crypto trading platform. With this platform, you can trade over 17 crypto futures in six coins, namely BTC, ETH, BCH, XRP, LTC and USDT. This platform offers the highest leverage in the industry at a multiplier of 200 times.
Furthermore, the platform provides a long-term investment opportunity that pays a guaranteed 10% APR on crypto savings. StormGain also offers traditional and instant exchange services and a multi-currency crypto wallet.
Charting Tools Provided by StormGain
StormGain provides a variety of charting tools that can be customised to fit the user’s needs. These include indicators, bar style, trend lines, and time interval adjustments. StormGain offers an array of indicators to support technical analysis.
The bar style is a tool that is used to adjust how the chart data is visualised. With the right adjustment, the tool can help identify opportunities that are likely to be missed with other chart styles.
Learn to Trade with StormGain
As mentioned earlier, StormGain provides a wide range of educational resources. These resources include trading guides, blog posts, vlogs, structured courses, and webinars. Most of these materials are free and accessible before registration. Each lesson comes with a test to help the user determine their learning progress. StormGain provides a feature that helps users determine their overall educational achievement.
A dedicated account manager is available to guide beginner traders through the first steps of trading. Also available is an intuitive demo account to help users practise what they learn without risking real money. StormGain also provides a live news-feed to help users stay up to date with what is happening in the crypto market.
StormGain Trader Protection
As mentioned earlier, this platform is not regulated. However, it appears to operate in full transparency and is trusted across the globe. The fact that it is the official sleeve partner of Newcastle United Football Club means that it is open to operating under public scrutiny.
How to Open an Account with StormGain
The account opening process with StormGain is simple, fast, and secure. Account creation involves submitting personal details through the provided registration form and creating a strong password. The process takes less than five minutes.
Users are required to verify their email and phone number to proceed, as well as a minimum deposit of 50 USD. The verification process involves clicking a link sent through email and submitting a code sent to the provided phone number.
Customer Support on Offer with StormGain
StormGain provides 24/7 customer service. It is reachable through live chat, email, and phone (+248 467 19 57). You can also contact StormGain through Telegram, Facebook, and Twitter. StormGain customer agents are friendly and appear to be knowledgeable. We have done a live test and confirmed that it takes a few seconds to get connected to their agents through phone and live chat. Emails may take up to 12 hours.
StormGain Review Conclusion
StormGain is a legitimate and worthwhile crypto exchange and trading platform. This platform provides leveraged crypto trading, regular and instant crypto exchange services, and a multi-currency crypto wallet. StormGain offers competitive pricing and offers the highest leverage in the industry. Moreover, it has some of the best crypto trading platforms around. The registration process is also simple and straightforward.
StormGain is highly recommended for beginner as well as experienced traders. The platform has invested in comprehensive educational centre cater for the needs of all types of traders. Moreover, a demo account is available to help beginners practice before going live. You do not need to deposit to access the demo account.
Is StormGain legitimate?
Yes! This platform is legitimate. StormGain is the official sleeve partner of Newcastle United and has been widely featured in mainstream media. This means that it is a trusted brand.
Can I withdraw from StormGain?
Yes. StormGain allows 24/7 withdrawals through all major crypto wallets. All withdrawals incur a fee of 0.1% and facilitate within 24 hours.
What are the deposit options for StormGain?
StormGain accepts deposits through major debit and credit cards and cryptos. All deposits via crypto are free while those made through bank cards attract a fee of up to 5%.
Is StormGain a regulated platform?
StormGain is not under any regulatory body. However, the platform operates in transparency and is trusted across the globe.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.