StormGain Review 2023
StormGain Review: Our rating for StormGain exchange is 3/5.
StormGain is a popular all-in-one trading platform with competitive fees and high leverage. However, some traders may be put off by the idea that this broker is not regulated.
StormGain Overview
| Official Website | https://stormgain.com/ |
| Headquarters | United Kingdom |
| Found in | 2019 |
| Available Cryptocurrencies | Bitcoin, Bitcoin Cash, Ethereum, Tether, Litecoin, and Ripple |
| Trading Pairs | 40+ |
| Support for Fiat Currencies | No |
| Minimum Deposit | $50 (for credit card deposits) |
| Trading Fees | 0.095% for Bitcoin |
| Withdrawal Fees | Depending on the coin |
| Leverage | Up to 200x |
| Regulation | N\A |
| Mobile App | Yes |
| Customer Support | Email, mobile, Telegram, and live chat |
| Accepted Countries | Australia, Canada, the United Kingdom, South Africa, Singapore, Thailand, Hong Kong, India, Germany, Norway, France, Sweden, Denmark, Luxembourg, Italy, Saudi Arabia, United Arab Emirates, Kuwait, Qatar and most other countries |
| Unaccepted Countries | United States, Japan, Bosnia And Herzegovina, Afghanistan, Guyana,Laos, Yemen, Iraq, Iran, Vanuatu, Uganda, Ethiopia, Sri Lanka, Syria, Trinidad And Tobago, Tunisia, Korea.Iran |
| Download App for Android | Download App for iOS |
What is StormGain?
StormGain is a popular cryptocurrency exchange in the United Kingdom, with over 120,000 users in over 100 countries. Traders and investors all around the globe use it as a leveraged trading broker. StormGain also offers a hassle-free registration and login process.
Many traders prefer StormGain for several reasons: It comes with its built-in wallet that supports several currencies, it offers high leverage, and it charges little in terms of fees and commissions. StormGain, an all-in-one platform, provides a wide range of advantages to every crypto trader. The Cloud Miner tool and the profitable Loyalty Program are two of its many distinctive features.
On the other hand, some traders may be put off by the idea that this broker is not regulated.
In this review, we are showing what this platform offers and promises, as well as dictating whether this broker does what it says and whether it is legit or not.
StormGain Review – Pros & Cons
Pros
- Beginner-friendlywith easy-to-use interface
- High leverage
- Low trading fees
- Instant withdrawal processing
- Deposit bonuses on multiple levels
- Crypto mining tool
Cons
- Limited crypto selection and trading tools
- Unregulated in many countries
- No automated bots
| Download App for Android | Download App for iOS |
StormGain Review: Main Functionalities
StormGain is a service provider in the crypto space. The platform was established in 2019. The company operates under the crypto trading regulations in Saint Vincent and the Grenadines region. StormGain is yet to be fully regulated and accepted by other crypto-friendly markets in the world. However, it has currently gained significant traction and impressive momentum.
Since its beginning, StormGain has been available to crypto enthusiasts across 100 countries. It has more than 120,000 active users every day. The company is also popularly associated with the Newcastle United Football Club (NUFC) as a sponsor for the 2019-2020 Premier League season. In 2021, StormGain was featured in almost all leading online media publications that promote innovative investment services in the crypto market.
The main functionalities of the online crypto trading platform can be tested out on the demo account as well. StormGain has three main product/service categories, which include:
- Cryptocurrency exchange
- Trading platform
- StormGain Crypto wallet
These three categories are packed with the majority of features and functionalities offered by StormGain. Let’s understand how each of these services works.
- StormGain Crypto Exchange
To begin with, StormGain has a full-fledged decentralized exchange for almost every leading cryptocurrency such as Bitcoin and Ethereum. Users can benefit from this best cryptocurrency exchange when leveraged for margin trading and investing. The desktop exchange platform offers a user-friendly experience that comes with a customizable dashboard where the user can browse and view all the rising and falling assets.
StormGain’s instant exchange has an easy process to buy crypto. It can simply use the credit card and allows users to buy digital currencies—most users like this super-quick purchase process by StormGain’s instant exchange. Moreover, the exchange is accessible 24/7 and has reasonable leverage to keep things affordable and cost-saving.
- StormGain Trading Platform
Compared to other trading platforms, StormGain offers some unique crypto trading features. Users can choose from 9 time-frames and enable their trades with the maximum computing advantage. Unlike other trading platforms, StormGain can provide access to multiple charting tools simultaneously. It can help users track trends and monitor price movements. The full-screen mode of the platform is also great to view all 40 of the technical indicators, which include third-party plugins from Stochastics and Ichimoku Cloud as well.
StormGain’s in-platform live chat option is great for resolving trade queries. The video tutorials, in particular, are quite resourceful for new crypto traders and beginners in the market.
- StormGain Crypto Wallets
According to Stormgain reviews, the e-wallet feature is a must-have service for investors and traders. It provides them a secure place to deposit or withdraw their funds on StormGain. Third-party wallets may restrict the cryptocurrency assets that can be withdrawn from StormGain. However, it has an in-built crypto wallet that processes all the deposits and withdrawals easily. This way, investors and crypto traders can smoothly transfer their owned cryptocurrency assets and store them on StormGain-compatible wallets or use the wallet to encash their digital wealth via credit card transactions.
The two main functions of StormGain wallets are deposits and withdrawals:
Deposit: All investors and even small-time traders can deposit real money into the StormGain user account. The wallet lets the user either purchase the Bitcoin by credit card or transfer an already-owned Bitcoin to the StormGain wallet. It also supports the transfer of five other cryptocurrencies. The transfer process of already held cryptocurrencies is faster. Users can also select from the list of cryptocurrency wallets supported and integrated by StormGain. On the right-hand side of the wallet page, there is the option to “Deposit.” Click this option to view all the deposit functions of the wallet.
Withdrawal: For withdrawal, traders can transfer their cryptocurrencies from their StormGain wallet to another wallet. Investors are currently unable to withdraw their cryptocurrencies by transferring them out to bank accounts. One of the main drawbacks of StormGain is that it does not support the exchange of crypto money into fiat money. Also, to withdraw cryptocurrency, it is important to select the wallet only from the listed options. At the right-hand side of the interface, the option for “Withdraw” is available. Here, the user needs to add the destination address of the other wallet. The user can also paste the QR code here.
While withdrawing, it is very important to enter the correct information as there is no retrieval or refund policy on the permanent loss of crypto assets due to incorrect information.
Is StormGain Legit and Regulated?
StormGain is currently unregulated, although it does function legitimately. As the official partner of Newcastle United FC, StormGain has a solid reputation and has been featured in a number of online media publications. We advise you are cautious with Stormgain.
| Download App for Android | Download App for iOS |
Range of Coins
As of 2023, users on StormGain can trade more than twenty cryptocurrency futures and smart contracts. Similar to Coinbase and other platforms, the users get the minimum deposit advantage on StormGain. This means that they can buy and hold coins at low prices and gain higher profits over time. The integrated crypto wallet supports around six popular currencies, namely:
- Bitcoin
- Litecoin
- Bitcoin Cash
- Ethereum
- Tether
- Ripple
Surprisingly, all transactions are carried out in Tether, a highly liquid yet stable cryptocurrency (USDT), which minimizes the exchange rate risks associated with using currencies such as Bitcoin.
StormGain Fees
StormGain enables commissions on crypto trading with a lucrative multiplier. The users can experience leveraged trading for up to 200 times their investment. The higher the investment, the better commissions and high leverage are offered.
Compared to most competitors, StormGain provides attractive commissions and high leverage for beginners. It is affordable to everyone. One should also be aware that this high leverage also leads to multiple losses.
The pricing options are also quite competitive. The trading fees are transparently displayed on the website. For crypto trading, the platform charges commissions and does not support the spreads. On average, every user has to pay for commissions on the USDT and BTC trading pairs in the range of 0.19% and 0.20%. This fee varies on exchange services, where it ranges from 0.095% to 0.25%.
| Download App for Android | Download App for iOS |
Payment Methods
You can buy cryptocurrencies on StormGain with your credit or debit card directly from the platform. The minimum deposit (in fiat or cryptocurrency) is $50, with a deposit commission of 5% at a minimum of $10.
Users are able to withdraw their funds by transferring them to the wallet. The minimum withdrawal amount is 50 USDT (or equivalent in another cryptocurrency). Withdrawals are subject to a 0.1 percent charge. The processing of all transactions might take up to 30 minutes.
StormGain Review: Is StormGain Safe?
One of the most important questions that traders want to know about a crypto exchange is whether it is safe. We know all too well the consequences of using an untrustworthy or insecure exchange.
The platform’s security features are strong. Two-factor authentication (2FA) via telephone number, OTP process (SMS), and Google Authenticator protects your personal information as well as your transactional information.
StormGain also ensures that the majority of its holdings are kept in cold wallets, which are safe offline storages for all digital assets.
StormGain offers several suggestions for customers to follow to keep their crypto assets safe, such as using a strong password, opening a second email account, and enabling two-factor authentication.
| Download App for Android | Download App for iOS |
StormGain Review: How StormGain Compares to Other Crypto Exchanges
Below is a comparison list between StormGain and competing exchanges for you to better understand what it offers compared to other brokers.
| Broker Name | StormGain | eToro | Binance |
| Year Founded | 2019 | 2006 | 2017 |
| Minimum Deposit | $50 | $50 | $0 |
| Inactivity fee | N\A | Yes | No |
| Minimum Trade | $10 | $1 | $10 |
| Platforms | Web, Windows, Android, iOS, | Web, Windows, iOS, Android | Web, Windows, iOS, Android |
| Regulation | None | CySec and FCA | FCA |
Read our full Binance review.
StormGain Review: What Could Be Improved?
Of course, no review would be complete without taking a look at some of the biggest drawbacks that we could identify on the StormGain exchange.
- Limited assets for spot trading.As StormGain only offers ten unique assets for spot trading, the platform isn’t suitable for investors looking to build a well-diversified portfolio.
- Takes 10% off profitable trades. Although the fees for spot trading and crypto swaps are reasonable, StormGain takes a massive 10% of the profits earned on derivatives trades, which is sure to eat into earnings over time. As such,while StormGain is a suitable platform for traders looking for high leverage, there are far cheaper options with similar features.
| Download App for Android | Download App for iOS |
Alternatives to Consider
If you want to trade on a regulated exchange supporting crypto futures trading: BTCC has a decent selection of crypto futures and offers high leverage up to 100x for perpetual futures. The platform’s trading fees are extremely low. BTCC is also a good choice if you want to diversify your investments to include stocks, commodities, and crypto.
Founded in 2011, BTCC is one of the world’s longest-running and best known exchanges with over 12 years of stable and secure operating history focused on the Bitcoin and Ethereum trading. BTCC offers trading service in US, Canada, and many other countries in Europe.
Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. BTCC has over 1 million registered users, and it has a trade volume (24H) of $12.99 billion.
Here are some key reasons why BTCC is also a good choice for you:
- Low fees
One of the biggest advantages of BTCC is its highly competitive fees.
- Safe & Secure
BTCC places strong emphasis on security, offering multiple strict measures to ensure the safety of user assets, with no reported hacks or security breaches to date.
- High Liquidity & Volume
One of the largest crypto futures exchange by volume and open interest, dominating the derivatives sector with huge market share.
- High Leverage for Crypto Futures Trading
BTCC offers a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT with high leverage up to 100x.
- User-Friendly
Simple user-friendly interface and intuitive trading platform, ideal for both beginners and advanced users. It also offers a range of educational resources and market updates to help users expand their understanding of the crypto and trade more easily.
- One-Stop Trading Platform
Apart from large crypto selection, BTCC also supports tokenized futures, allowing users to trade stocks and commodities futures with USDT. With the integration of spot and futures markets, BTCC offers a complete ecosystem to fully utilize crypto/stock/commodity assets and manage portfolio risks.
If you want a secure crypto storage option: Coinbase has excellent security and keeps over 98% of its clients’ crypto offline in cold storage. Those who want even more protection can use the exchange’s vault service, which is available to clients free of charge.
StormGain Review: Final Verdict
In this StormGain exchange review, we aim to provide you with accurate and the latest information. Based on recent research we conducted, we don’t recommend Stormgain. Some users reported they got locked out of their accounts when trying to withdraw their funds.
Stormgain is a crypto exchange that offers margin trading with high leverage up to 200x, multi-currency wallets, and great charting tools. StormGain offers the Cloud Miner feature and high multipliers.
StormGain has a competitive trading fee, and it also provides good margin trading as well as multi-currency support. However, some customers report that there is not enough clarity on security measures like cold wallet storage. Furthermore, the broker is not regulated yet, so if that puts you off as a trader, StormGain is not necessarily for you.
FAQs
Does StormGain really mine Bitcoin?
With StormGain’s free Bitcoin cloud mining service, you can mine bitcoin by signing up for a StormGain account, then going to the mining tab and pressing the “start cloud miner” button. After that, every four hours, you earn mining rewards.
How does mining on StormGain work?
StormGain’s cloud mining service is more rewarding than other conventional cloud mining platforms. The more you trade with StormGain’s crypto trading platform, the more the hash rate is diverted to your account.
Is there an alternative to StormGain?
One top choice is BTCC. Opening an account with BTCC is quick and easy, and they offer commodity and stock trading also. The platform supports various of crypto futures trading with high leverage up to 100x and extremely low fees. It offers trading service in US, Canada, and many other countries in Europe.
Another excellent option is Binance. The platform offers low fees, which means that traders can keep more of their investments and profits. There is also an impressive selection of trading options and order types.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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