StormGain, Full Review
StormGain is fast-growing dedicated cryptocurrency trading broker. StormGain also offers traders the opportunity to trade in other global markets on the platform.
StormGain is a fast-rising broker that offers traders access to several markets and is popular among cryptocurrency traders. Although founded in 2019, StormGain is a major broker among cryptocurrency traders, competing with some names like CoinBase, BitMEX etc.
Currently, StormGain offers users three core services;
Leveraged crypto trading,
Multi-currency crypto wallet,
Regular and instant crypto
StormGain is one of the few exchanges that permit direct deposits using debit and credit cards. Also, StormGain currently offers the highest multiplier offers in the industry (up to 200 times). StormGain is also part of the few crypto exchanges that offer traders a guaranteed a 10% APR. All the funds saved are then used to offer leverage to traders.
Also, StormGain offers competitive trading fees compared to other brokers. The registration process is easy and straightforward.
StormGain is an exchange platform and crypto broker founded in 2019. The company is based in Seychelles. The core services of the company include instant and regular exchange and leveraged crypto trading. StormGain also offers its users a multi-currency crypto wallet. Since founded in 2019, StormGain has gained over time to become a reputed brand among crypto exchanges.
Compared to most other popular exchanges, StormGain offers a lot of features compared to most other exchanges. However, considering that the broker is still relatively young in the market, there is still some scepticism among users. StormGain was nominated as the Best Emerging Fintech Startup and the Best Multi-Asset Trading Platform by Finance Magnate.
StormGain is available in most countries. Some of the countries where StormGain is not available to include Canada, US, Yemen, North Korea, Syria, Tunisia, Uganda, Iran, Afghanistan and some others. To confirm if StormGain is available in your country, try out the signup process. The process is secure and straightforward.
The StormGain sign up process does not utilize the tedious Know Your Customer (KYC) process often utilized by other brokers. In most instances, the KYC process requires uploading government issues identification and utility bills for verification. For some brokers, this verification process can take up to 24 hours.
What type of trader is StormGain best suited for?
StormGain is suitable for a wide range of traders. The platform is easy to use for both beginners and experienced traders. Apart from this, StormGain also has a range of educational resources created to help traders efficiently use the platform optimally. From setting up an account to using the various trading tools available on StormGain, there are several training resources to help with these processes. Apart from these, StormGain also offers a platform for crypto traders some risk-management features e.g. ‘stop-loss’ and ‘take-profit’. These features help traders define the amount of risk they are willing to take.
StormGain is very suitable for traders looking to invest or trade cryptocurrencies. Most crypto investors focus on long-term price growth. Crypto traders, on the other hand, speculate the volatility of crypto on the short-term. So traders can earn in both bull and bear markets while investors only earn from price appreciation over time. Although some investors also get to earn interest on their assets.
Apart from its trading platform, StormGain also offers users who do not have the time or skills to trade crypto invest. The platform offers a 10% APR on Bitcoin, Ethereum and a few other cryptocurrencies. So, if you are looking to only invest in cryptocurrencies and not trade, StormGain also offers this functionality. Just like other saving accounts, the funds are risk-free.
Another major perk of choosing StormGain is that it allows traders trade at leverage up to 150 and crypto traders can trade from over 17 crypto options. StormGain is suitable for traders with a limited budget, more so considering that the minimum account balance needed is $50.
Here are some more specific details to look out for before choosing StormGain as your broker.
Safety and Regulation
Although StormGain operates in full transparency and is popular around the world, the platform is not regulated. A major reassuring factor with using StormGain, however, is that it is an official sleeve partner of Newcastle United Football Club which put the organization in public scrutiny.
Privacy and Security
StormGain places a strong focus on security and privacy for both investors and traders using the platform. Some of the security measures in place include;
- Two-Factor Authentication: This is an essential additional security feature for users of StormGain. Traders and investors are required to use the iPhone app or Google’s android to add a one-time password Two-factor Authentication confirmation every time a user logs in or requests a withdrawal.
- Wallet Security: Also, considering that StormGain offers a cryptocurrency wallet feature, one of the security features in place for these wallets include the use of cold wallets to protect both traders and investors on their platform. This implies that their wallets are offline and are protected from hackers online.
Apart from there, StormGain also recommends that users use unique email addresses and passwords for their StormGain accounts. Some other recommended security precautions include;
- Using trusted antivirus software to secure computer
- Enabling fingerprint feature to unlock phone and sensitive apps on mobile
- Secure email providers should be used.
- The domain being visited should always be checked.
StormGain offers users a web, desktop, and mobile versions of its trading platform. The desktop trading platform can be used on Linux, Mac and Windows OS. The web version can also be used across several browsers and can be accessed from even tablet devices and smartphones.
The platforms are user-friendly and easy-to-use, even for beginner traders. While most other brokers only offer web-trader versions which makes them suited for more experienced traders, StormGain can be used by anybody.
There are several complaints about the complexity of some other platforms. This also includes bugs that make activity on some of these platforms difficult. For StormGain, most of the other user reviews report a great experience using this broker.
StormGain offers several risk management features, including the ‘Stop Loss’ and ‘Take profit’ feature. The ‘auto-increase’ feature is another StormGain feature that allows traders automatically add to a losing trade so it doesn’t get liquidated. Traders can also monitor the status of live trades on StormGain using the ‘My Open Trades’ feature. With this feature, it becomes relatively easier to monitor details of the trade including current profit/loss status and timeline of the trade.
Also, as stated earlier, StormGain offers cryptocurrency traders and investors a free wallet that is directly connected to the exchange. This wallet makes it easier for users to receive and send crypto directly. The wallet can be used for all major cryptocurrencies.
All you need to do to start using the wallet is complete your registration on StormGain and go to the Wallet section on the website.
StormGain also follows the General Data Protection (GDPR).
StormGain also allows traders and investors by cryptocurrencies on StormGain exchange directly. Traders and Investors who already have cryptocurrencies can easily transfer these cryptocurrencies to their StormGain wallers.
To get started with opening an account simply log on to the StormGain website and with the prompt. Once you have completed the account opening phase, you would then be required to deposit to start trading and enjoy the features of StormGain.
If you would simply like to transfer cryptocurrencies to you StormGain account, you can go ahead by choosing the cryptocurrency you would like to deposit. The ‘Buy with Credit card’ option is also available for users looking to buy cryptocurrency directly.
StormGain, however, caps credit card purchases at €20,000 or $20,000.
StormGain also charges a 5% transaction fee for this. Once these have been completed, necessary billing details would then be required to complete the transaction.
Traders and investors holding Tether are only required to select Deposit under USDT to get their USDT wallet address. This process also applies to traders and investors with other cryptocurrencies.
Some of the main cryptocurrencies offered by StormGain include ADA, Bitcoin, Cardano, Ethereum, DASH, Litecoin, Ripple, OmiseGo, Bitcoin’s Gold, Tether, NEM, NRO, IOTA etc. The StormGain platform also offers traders some risk management features e.g. Indicators, ‘Stop-Loss’, and ‘Take Profit’. Apart from this StormGain has Cryptocurrency forecasts delivered every hour.
The minimum threshold of trading is 10 USDT and the minimum deposit required to start trading is 50 USDT. With this, a trader can use up to 150 multiple, taking the value of the trade to 1,500 USDT. Also note that, while the leverage improves gains, it can also significantly increase losses as it goes in both ways. This is why it is important to have the right risk management procedure in place to prevent major losses.
StormGain Crypto Trading Platform
As mentioned earlier, StormGain offers a leveraged crypto trading platform to interested traders. This platform allows traders trade from over 17 crypto futures in six coins including ETH, BTC, XRP, LTC, USDT, and BCH. StormGain offers the highest leverage in the industry with a multiplier of over 200 times. 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.
Another notable peculiarity of StormGain is that the platform offers users good long-term investment opportunities that offer up to 10% APR on their crypto savings using the multi-currency StormGain wallet. Apart from this, StormGain offers other basic features of traditional and instant exchange services.
StormGain offers users several charting tools that can be customized based on the user’s needs. These chart customization tools include bar style, trend lines, indicators, trend lines etc. StormGain also provides users with a range of indicators to support their technical analysis.
The bar-style allows traders to customize the visualization of the chart. With the right customization options, it becomes relatively easier to identify opportunities that would have been missed if other charting styles were used.
As already mentioned, StormGain provides crypto traders with leveraged crypto trading with access to over 17 crypto future which can be traded at a multiplier of up to 200 times. The major advantage of this is that trader has the opportunity to earn up to 200 times the capital invested. StormGain offers one of the best leverage options among brokers.
However, this fantastic benefit of leverage can also be a downside as leverage also magnifies losses. This is why it is not recommended for beginner traders to start with high leverage. All the transactions carried out within the StrormGain system are Tether (USDT), (which is currently hedged to the USD at a 1:1 ratio). Compared to most other cryptocurrencies, Tether is stable enough to be used as the medium exchange of the platform.
StormGain does not charge spreads on crypto trading. However, traders are required to pay commission which is usually between 0.15% and 0.25% of the currency pair being traded. 0.15% is used for Tether pairs while 0.25% is used for BTC pairs. The commission that’s between 0.08% and 0.25% also applies to instant exchange services.
Also, like in most exchanges, StormGain has a daily fee for long and short positions. Swap Buys come at a daily fee of -0.04% for the trading pairs while the Swap Sell is at a rate of 0.004% for Tether pairs daily. BTC pairs also have a daily Swap Sell rate of -0.04%. When compared to some other popular crypto trading platforms, StormGain offers one of the lowest daily charges for Swap Sell positions.
The StormGain web=platform is multi-interfaced. Some of the interfaces of the platform include;
Trading with multiplier
This interface enables the trading of cryptocurrencies using multipliers. The interface has sub-categories that include;
Top Gainers, and
To open a trade, select the cryptocurrency pairing on the left side of the page and then select ‘Open Trade’.
There are two options for this offer:
Immediate Trade- This is based on the market price, or
‘At the Price’ trade- This type of trade allows you to specify the buy or sell price ahead.
In both options, you would be required to specify the trade amount and multiplier. You can also manage your risk through the selection of target profit or loss.
For investors and traders that do not mind the volatile nature of the cryptomarkets, the ‘Auto Increase’ feature can also come in handy. This feature is a top-up mechanism that helps keep a trade open even if the loss reaches 50%. With the ‘Auto Increase’ option, StormGain automatically invests an extra 50% of the trade amount from your wallet.
This supports the buying, trading, and holding of cryptocurrency through pairings being offered. This interface can also be further broken down into sub-categories:
To get started on this interface, you only have to select preferred cryptocurrency and select the ‘Open Order’ option. In this interface, the options available include placing a market order or limiting a stop order. For market orders, you only have to enter the amount you’d like to exchange then click on the buy or sell option.
StormGain supports both selling and buying of trades.
To carry out a Stop/Limit order, simply enter the stop/limit price and the amount you’d like to exchange. You can then go on to buy or sell depending on whether you’d like to go short or long.
The amount charged as the commission is also displayed at the bottom of the order screen.
Instant Exchange is used to facilitate instantaneous exchange between cryptocurrencies using StormGain. The feature is also easy to use. All you have to do is choose the wallet you’d like to transfer from, the amount you’d like to exchange, and the wallet you’d like to transfer to and select the ‘Exchange’ option
For instance, if you would be exchanging USDT to Bitcoin, the Bitcoin wallet would be credited and the USDT wallet will be debited based on the rate stated.
Some major features of the StormGain platform include:
StormGain offers an array of indicators that support technical analysis. These indicators are categorized using oscillators, trend, and volatility. These indicators can be viewed on the full-screen version of StormGain.
StormGain also allows investors and traders to customize their charts based on their specifications and trading needs.
With StormGain, traders can choose to trade using multipliers. The maximum amount of multipliers available for use varies based on the cryptocurrency pairing, although the maximum multiplier available on StormGain is 150x. This leverage feature makes it StormGain attractive to experienced traders and investors that can optimize the ‘trading with multiplier’ interface.
StormGain offers both candle and line and bar charts for viewing. Traders can choose and customize their charts based on their preferences. Nine-times frames are also offered which ranges minute to monthly views.
Open Trade Summary
At the lower part of all interfaces, traders and investors get an open trade summary. StormGain also offers a trader sentiment feature that gives insights based on active trades. This feature allows you to see all buy and sell trades for selected pairings.
StormGain helps traders and investors effectively manage the risk associated with trading cryptocurrency. These features include;
StormGain can also be downloaded on Google Play and other App stores to be used on mobile.
StormGain was established in London in 2019. The company is registered in London as StormGain LTD. However, the company has grown to expand its operations internationally, with its services now covering parts of Asia, Europe, Africa, and South America.
StormGain is, however, not available in some regions including the US, Canada, Japan, Afghanistan, Vanuatu, Uganda, Tunisia, Guyana, Turkey, Iran, Trinidad and Tobago, Lao PDR, Yemen, Syria, Bosnia and Herzegovina, and Ethiopia.
A number of these regions have laws that are against trading cryptocurrency while others have weak financial systems and therefore present a lot of risk to StormGain.
How To Confirm If StormGain is Available in Your Location
To confirm if StormGain is available in your country, you have to try the sign-up process. An alternative to this would be to chat customer service before you open an account. StormGain is not regulated by any regulatory body, the company’s approach to business is what makes it trusted around the world.
The company is open to public scrutiny and its platform is available in over 10 languages including; English, French, Spanish, Italian, Dutch, Portuguese, Polish, Korean, Turkish, Chinese, Vietnamese, and Russian. StormGain recently joined the FinaCom’s Blockchain Association. The association is a self-regulating body of companies that transact in digital assets.
StormGain offers users five types of accounts. These include;
This is the most basic account type offered by StormGain. It only requires a deposit of below 500 USDT. Also, unlike the other type of accounts, the Standard account does not have a minimum trading volume. The Standard account does not also provide a trading commission discount and it has an exchange commission of 0.05%
The Gold account requires users to have a trading balance of over 500 USDT and a trading volume higher than 150,000 USDT. Some of the benefits associated with a Gold account include a 5% trading commission discount and a 5% bonus deposit. Gold accounts also have an exchange commission of 0.08%.
This type of account is most suitable for experienced traders.
For the Platinum account, users are required to have a minimum trading balance of 1499 USDT and a trading volume of 750,000 USDT. Operators of this type of account enjoy a 10% bonus deposit and trading commission. The exchange commission for Platinum accounts is also at 0.07%.
The Diamond account is also closely similar to the Platinum account. However, more benefits are enjoyed with the Diamond account providing a trading commission and deposit bonus of 15%. Diamond accounts have an exchange commission of 0.07% and users of this type of account must have a trading balance of above 4,999 USDT. Traders with the Diamond account are also required to have a trading volume of above 2,250,000 USDT.
The VIP account is the highest type of account obtainable on StormGain. The VIP account requires a trading balance above 9,999 USDT. The trading volume requirement for a VIP StormGain account is 7,500,000 USDT. The perks of the VIP account include an 18% bonus deposit and a 20% trading commission discount. You also get an 0.07% exchange commission.
How to Open an Account with StormGain
Opening a StormGain account is easy and straightforward. The entire processes take less than five minutes. The registration process involves submitting personal details through the registration form after which you would have to create a strong password.
The registration also requires users to verify their phone number and email. The minimum deposit required for registration is 50 USDT which is equivalent to 50 USD. The verification process involves clicking the link sent to your email or inputting the code sent to your phone number.
The StormGain Loyalty Program
StormGain also offers traders and investors a loyalty program. The loyalty program comes in 5 levels, each with different benefits. The status of the trader or investor depends on several factors including the trading volume and available balance.
The levels include:
- Standard- The Standard level is for account balances of 499 USDT and no trading volume.
- Gold: These are the accounts with over 499 USDT. Their trading volume is over 150,000 USDT.
- Platinum: These are accounts with over 1,499 USDT a trading volume that is over 750,000 USDT.
- Diamond: Diamond accounts have a balance of over 4,999 USDT. The trading volume required for the Diamond level is over 2,250,000 USDT.
- VIP: VIP accounts have a trading volume of over 7,500,000 USDT and a balance of over 49,999 USDT.
Depending on the status, there are various benefits of the StormGain loyalty program which includes discounts on trading commissions and different exchange commissions. StormGain also offers traders and investors a bonus to deposit percentage that ranges from 5%-15%.
VIP members also enjoy individualized benefits.
StormGain also offer interests on crypto investments on cryptocurrency deposits apart from these regular plans. Deposits that are between 100 and 50,000 USDT earn a 10% interest annually. The deposits, however, have to be held for about 30 days.
The interest is also calculated on a daily basis using the account balance at 21:00 GMT daily. The amount of interest earned is then summed using equity at the time of calculation.
Traders and Investors using StormGain also enjoy trading signals at no cost. These signals are based on special support offered to investors and traders. StormGain specialists use several AI analytical techniques which includes chart analysis and other indicators and trading news to create these trading signals.
StormGain provides these signals are provided at hourly intervals. These signals give investors and traders the information required to make the best decision with respect to risk management. These insights coupled with the risk management tools (‘Stop loss’ and ‘take profit’) offered by StormGain are valuable for traders.
Apart from trading fees, the fees involved with using StormGain include bank deposit commissions and withdrawal fees. As mentioned, StormGain also lets traders and investors buy cryptocurrency directly using credit or debit cards. StormGain charges a 5% commission on credit or debit deposit. The debit/credit card commission is required to be above 10 (USD/EUR).
The minimum deposit on StormGain using a bank card is $50 and the maximum is $20,000. Deposits of cryptocurrencies are free. However, a withdrawal fee of 0.1% is charged on BTC, USDT, BCH, ETH, XRP and LTC. The minimum amount that can be withdrawn is 50 USDT, 0.15 BCH, 0.0059 BTC, 240.0 XRP and 0.3 ETH. Fiat currency withdrawals are not allowed on StormGain. Compared with other cryptocurrency exchange platforms, StormGain has a transparent fee mechanism.
The fees of StormGain depends largely on the cryptocurrency pairing being traded. These fees are often between 0.15% to 0.5% for individual positions.
Note the variables by asset class as these are commission averages.
Also for traders to fully optimize the 150x multiplier, BTC/USDT trading gives traders access to full multiple. StormGain also has one of the lowest commission averages for each trade.
Although StormGain does not require any deposit fees, the platform has some minimum deposit requirements. The withdrawal fee is a 0.1% flat irrespective of the cryptocurrency. The minimum withdrawal amount varies based on the cryptocurrency.
As mentioned, StormGain also offers crypto traders and investors built-in wallets to help them manage and exchange fund securely. In all, six crypto wallets are offered. These wallets are compatible with the wide range of cryptocurrencies supported by StormGain. The multi-wallet system helps cryptocurrencies hold all their crypto assets in one place.
To start trading with StormGain, traders and investors are required to go through the registration process and make a deposit.
Also, to improve the security status of StormGain, StormGain utilizes some industry-leading security encryption to protect users from cyber fraud, including cold wallets and two-factor authentication.
The built-in wallets offered by StormGain are available for users free of charge.
Deposits and Withdrawals
Traders and investors looking to withdraw or deposit from StormGain should note that withdrawals can only be carried out with cryptocurrencies.
To make deposits, traders and investors can choose to transfer the cryptocurrencies to existing StormGain wallets or be bought with a credit card.
Traders can also purchase Bitcoin using a credit card or by making a transfer from already owned cryptocurrencies to the selected StormGain wallet. When transferring to already held cryptocurrencies, the right crypto wallet should be selected.
Traders and investors can withdraw cryptocurrencies from their StormGain wallets by making a transfer to other compatible wallets.
Funds on StormGain cannot be exchanged into fiat money. The withdraw option is on the right side of the interface. You only have to paste the destination wallet address or use a QR code to go ahead with the withdrawal.
Before going ahead with withdrawal, you should ensure the right information is inputted as the wrong information can lead to permanent loss of crypto assets.
StormGain looking to withdraw to Tether can also exchange their cryptocurrency to USDT before making a withdrawal.
The ‘From Wallet’ option also allows you to select your preferred crypto wallet and change it to USDT. Once the amount appears in your USDT, you can then go ahead with the withdrawal.
The minimum deposit required on StromGain depends on the account type. However, the minimum deposit for the standard account is 50 USDT.
Mobile Trading Platforms
StormGain mobile trading apps can be accessed on both Android and IOS platforms for free on both Google Play and App Store. The mobile store offers all the features of the desktop and web platforms. The demo account can also be easily accessed using the mobile app compared to the web or desktop trader.
The mobile app also comes with a notification and link tracking system that notifies the user of trading opportunities as they emerge. The app is also secure and does not have any strict installation requirements hence can be used across several devices.
The mobile app also allows users to pick from over 10 languages including French, English, Italian, Dutch etc.
StormGain offers a vast array of resources including blog posts training guides, vlogs, webinars and courses. Most of these materials can be accessed for free and do not require registration. After each lesson, users are required to take a test to track the progress of their learning. Apart from this users also get a feature to help determine their overall educational achievement.
There is also an account manager that helps beginner traders with the first steps involved in trading. StormGain also offers a demo account for practice sessions without the risks involved in real-time trading.
The StormGain live news feed is also designed to help users keep tabs with events in the crypto market as they unfold.
StormGain offers its users a 24/7 customer service that can be reached through email, phone (+248 467 19 57) and live chat. StormGain customer support can also be reached through their social media platforms. The media channels (Facebook, LinkedIn, Twitter, and Youtube) are very active and agents are very warm and helpful.
An engagement with the support agents shows that most of the agents have good knowledge about trading and markets. The customer support responds within a few seconds of engagement. Although, email responses may last for up to 12 hours. The helpline is, however, available 24/7.
Note: There are also some tutorial videos offered to offer support to users. The contact helplines can, however, be reached if the video tutorial is not enough to help.
StormGain Support can be reached on email@example.com
Social Media Links
Telegram: Traders and Investors using StormGain can also join the StormGain community.
StormGain also allows the user the opportunity to leave feedback using the ‘Leave Feedback’ on the interfaces.
StormGain offers an all-in-one trading platform to traders and also gives traders insight into the market by giving updates on trends in the market. The mobile experience is seamless and experienced traders would also find the broker handy due to the sizeable multiples offered by StormGain.
StormGain Pros and Cons
- Full transparency
- Fast Trade Execution
- High Leverage
- Competitively Low Fees
- Risk Management
- Demo Account
- Crypto Wallets
- Loyalty Program
- Fast Registration
- 24/7 Customer Support
- Seamless Mobile Experience
- Currency Conversion
With StormGain, users can access live trade data on StormGain including the country, transaction time, the currency traded and type of transaction.
Fast Trade execution
Trade execution on StormGain is very rapid
StormGain allows traders up to 150x leverage which is a major perk for experienced traders. Although this can also indicate increased risk.
Competitively low fees
Compared to most other popular brokers, StormGain offers low withdrawal fees.
StormGain also integrates basic risk management tools to help traders and investors optimize their profit. Users also get regular signals based on trends in the market.
Traders can also use a demo account to try out the features of StormGain without experiencing the risks associated with real-time trading.
StormGain also offers users six secure crypto wallets on the platform to receive deposits of the most popular cryptos around the world. As the wallets are cold wallets, this protects traders and investors from theft and fraud.
Reward for users (StormGain Loyalty Program).
The registration process for StormGain is fast and direct. There, however, is a need for verification.
24/7 Customer Support
StormGain also offers 24/7 Customer support to users across different platforms.
Seamless mobile experience.
Investment opportunities (interest on crypto deposits).
Traders can Investors can fund accounts using cryptocurrencies.
The broker is currently unregulated, although the company has several controls in place.
StormGain does not allow for the conversion of cryptocurrencies into fiat currency. Only cryptocurrencies can be withdrawn on StormGain.
Is This Broker a Good Option for Me?
StormGain is a user-friendly trading platform that caters to both beginner and more experienced traders and investors. There are several tools offered to make trading easy. Also, a large number of pairing are available, creating a vast array of trading options. Also, the relatively lower fees make the StormGain easy to choose.