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App.stormgain.com review: IMPORTANT – Read This Before You Trade Crypto
StormGain brings a fresh, exciting and new trading experience. The exchange has taken the best of investment and cryptocurrency markets to offer an innovative platform to trade crypto futures contracts.
Traders can capitalize on the volatile crypto markets with the most popular crypto pairs and using high leverage up to 200x. You can even purchase crypto with a credit card.
While we aim to provide you with accurate and the latest information in this StormGain review, we strongly suggest that you visit their site to keep updated with any changes that may occur afterward.
Before trading cryptocurrency, we recommend using a Bitcoin hardware wallet such as the Ledger Nano X. If you don't have a wallet, read our guide on the best cryptocurrency hardware wallets.
Your will get 3 USDT for registration: https://app.stormgain.com
What Is StormGain?
StormGain is one of the most popular crypto exchanges in the UK that is available in over 100 countries worldwide with more than 120,000 customers. The platform offers up to 200x leveraged trading on digital currencies. The cryptocurrency trading and investing platform features cutting-edge charting and trading tools.
StormGain is well known for offering contract settlement in the stablecoin Tether (USDT). The USDT settlement for contracts is suited for individuals that prefer to to reduce their portfolio exposure and limit the exchange rate risk which is typical of high volatility cryptocurrencies such as Bitcoin and Ethereum.
StormGain Compared
Advanced features, intuitive user interface and a mobile trading app are important features on StormGain. This comparison table lists alternate crypto trading exchanges like StormGain that offer world-class features.
StormGain Features
With its modern interface, secure wallet, two-factor authentication, trading signals and excellent user-experience, StormGain is a serious crypto trading platform. Here are other notable features.
Rapid Verification (no KYC)
StormGain users can begin trading on the platform with basic information such as a name, email address and mobile phone number. There is no requirement to complete ID verification or KYC (Know Your Customers) and submit personnel documentation. This will be appealing to some traders that prefer to remain anonymous.
Advanced Charting
StormGain offers an impressive user-interface which includes a power and simple cryptocurrency trading platform for trader's to analyse the price charts. The charting system is packed with advanced crypto trading tools, indicators and a full-screen mode. StormGain's elegant and responsive user-interface has been designed with simplicity that is easy to use for beginners and advanced traders.
High Leverage & USDT Settlement
StormGain is one of the few trading platforms in the world that leveraged crypto trading with up to 200x multiplier. While leverage trading with margin can be extremely risky, professional traders can maximize their potential profits on their positions. We must caution that high margin trading is not suited for beginners.
Another feature of note is the settlement in the stable coin tether (USDT) which is pegged to the US Dollar (USD). This allows users to trade the volatile digital currency market without over-exposing their capital and to hedge their portfolio against sudden price movements.
Buy Crypto With Credit Card
StormGain allows its users on the platform to buy crypto using a credit card to fund an account, without having to transfer money from a crypto exchange. StormGain supports VISA and Mastercard credit cards. There is a flat 5% fee applied to all credit card purchases or $10 USD (whichever is higher), which is reasonable compared to other trading platforms such as Coinbase.
Practise Using A Demo Account
There are hundreds of cryptocurrency exchanges, however not all have a demo account to practise trading with virtual funds. StormGain's demo mode uses real like crypto data to allow its users to simulate trading risk fee and to become familiar with the platform before funding a real account.
Is StormGain Legit?
StormGain appears to be a legit cryptocurrency trading exchange based on our research. The exchange is a member of the Blockchain Association within the Financial Commission. Founded in 2019, StormGain is an Official Sleeve Partner of the popular UK Football Club Newcastle United.
StormGain Registration & Verification
To open an account with StormGain, the process is straight forward and only takes a few minutes. Traders will need to provide a valid email address to start trading digital currencies. There is no requirement to provide ID documentation to trade crypto with margin or purchase altcoins with Bitcoin.
Trading With StormGain
Unlike traditional cryptocurrency exchanges that will interface with TradingView for their charts, StormGain features a unique and custom-built trading experience. The user interface comes with all the expected trading features and functions in a minimal and elegant arrangement. Users can quickly view crypto trading pairs, live price charts, wallet balances and open positions from a single window.
The coin selection bar along the top is quite useful, particularly the top gainers and losers. Extreme moves in the markets can present trading opportunities so this feature will appeal to certain users. Otherwise, you can add your favorite coins or use the popular list.
Serious crypto traders might be looking at the interface and wondering is that it? Absolutely not.
Click on 'Full Screen' mode which brings up the full charting window where you can add indicators, draw trend lines and patterns by right-clicking the chart. After using the charts for a while, it is smooth, intuitive and responsive. Any technical drawing tools on the chart will remain as you leave full screen mode and switch to other cryptocurrency pairs which are useful.
To make a buy or sell trade, simply click on the green 'Open Trade' button which will bring up an order window. You will see from the screenshot below the chart is displayed adjacent to the order box with technical analysis shown. This feature allows users to review the charts while entering an the order which is useful to see technical analysis and key levels etc.
Users can change the time frames in the order window to ensure your analysis meets a certain criteria on the higher (or lower) time frames. Here, you can select the following order details:
- Order type (market or limit)
- Size of the position
- Margin amount (up to 200x)
- Take profit and stop loss levels
The commission rate is also displayed for your information which is useful.Swap Crypto Instantly StormGain allows its users to instantly swap a crypto to another. Instead of using instant swap platforms such as Changelly, ChangeNOW, SimpleSwap and SwapSpace, users can perform crypto swaps within StormGain using the instant exchange. The exchange rate commission rate is displayed at the bottom which we will assess under the fees section.
Purchase Crypto Using A Credit Card
StormGain offers the option to purchase crypto using a credit card (VISA or Mastercard) through a partnership with Simplex. A flat 5% fee applies to all credit card purchases or $10 USD (whichever is higher). To buy crypto with a credit card using StormGain, follow these steps:
- Login to your StormGain account
- Navigate to the top menu and click on 'Buy Crypto With A Card'
- Select Credit Card as a payment option
- Enter in the amount of Bitcoin you want to purchase
- Confirm the order and click on 'Deposit'
StormGain Wallet
The platform includes its own multi-currency wallet to allow users to store their crypto assets while margin trading, or swapping assets on the exchange or storing purchased crypto. The built-in crypto wallet can secure up to 6 of the popular crypto assets such as:
- Bitcoin
- Ethereum
- Litecoin
- XRP
- Bitcoin Cash
- Tether USDT
StormGain's wallet is protected by several security measures such as encryption and 2 Factor Authentication to keep your funds safe. The wallet app is available to use on both iOS and Andriod devices. To download the free StormGain wallet from visit their website and complete a short registration process.
Importantly, there no mention on the website if the funds are stored in cold wallets. Offline storage for client funds has become the standard on cryptocurrency exchanges and should be provided to offer the highest level of security on the platform.
Earn Interest Using StormGain Wallet
StormGain has introduced a new feature to encourage its traders to buy and hold their funds within the exchange wallet to earn interest on their digital currencies. The platform is offering up to 12% APR interest on funds that are deposited into a StormGain wallet. Traders can turn their portfolio into a healthy profit in long term by storing the assets within a StormGain wallet without trading.
To achieve the full 12% interest on assets, traders need to unlock the higher loyalty status levels. StormGain allows the interest earned to be withdrawn as USDT after 30 days.
StormGain Fees, Margin & Limits
Most traders will know that trading fees are an important consideration when using a cryptocurrency trading exchange. Particularly for active day traders that can execute several trades a day with high leverage. StormGain fees are as follows or you can visit their website to view in full.
Trading Fees
To buy and sell crypto using the StormGain margin trading platform, the following fees will apply. In comparison to other exchanges, the fees are reasonable and competitive in the market.
Exchange Fees
To instantly swap a crypto to another crypto with StormGain charges a commission fee depending on the asset traded. For example, the exchange fee on the BTC/USDT pair is 0.095% per trade which is compared to Binance which charges 0.1% on transactions.
Deposit & Withdrawal
There are no deposit fees to transfer crypto into the StormGain platform. There is a 0.1% withdrawal fee applies when sending crypto to another platform or a hardware wallet. Depending on the crypto asset, minimum and maximum limits apply and suggest you check the website. The withdrawal fee is unusual as the majority of exchanges will only charge the standard blockchain network mining fee.
Customer Support
An important factor when deciding to use a particular cryptocurrency exchange is customer service. We did notice that StormGain has a 24/7 live chatbot to ask questions. We did use the live chat and received a response from an operator within 5 minutes which was pretty good.
StormGain also has a 'Knowledge Base' which provides useful guides and troubleshooting for commonly asked questions. The sections are divided into categories so you can browse and view other topics that might be of interest. As StormGain is a relatively new crypto trading exchange, the help section is not as thorough as other exchanges, but we expect this to fill out in the future as the user base grows.
Reviews & Feedback
StormGain platform has received 4.5 stars out of 5 on the respected review website Trustpilot. The comments and feedback ratings are mixed with quite a few negative comments. As with all exchanges, new traders should apply their own due diligence, risk management practices and continue to keep updated with exchange reviews such as this.
Frequently Asked Questions
Is StormGain Safe?
StormGain provides several recommendations for users to adopt to keep their crypto assets safe on the exchange. The measures include using a strong password, activating two-factor authentication and creating a separate email account.
We did notice there is limited information on the exact security measures StormGain have implemented to protect the website and user wallets. We would like to see this added for clarity and to provide transparency to its users.
Can You Demo Trade Using StormGain?
StormGain has a demo account feature that allows traders to practice crypto trading without making a deposit. New users can test out the StormGrain user-interface to become familiar before depositing funds before starting leveraged trading.
Does StormGain Have A Referral Program?
StormGain has a referral program that acts like a loyalty program to reward existing users for bringing in new customers using their unique referral link. The referral bonus is 15% of the referred users trading fees. There is no limit to the number of referrals or expiry.
Is There A Mobile App?
StormGain platform offers a trading app that can be downloaded for iOS and Android devices. The StormGain app allows users to connect their trading account through an API to execute trades, place orders and check active positions from a mobile device.
Conclusion
To conclude our StormGain review, the platform is easy to use and packed with excellent features for traders that want to trade with high leverage. The cutting-edge user-interface and trading charts is one of the best we have seen and just feels right.
The fees for trading or swapping crypto directly on the exchange are very reasonable compared to other popular crypto margin platforms. However, there is concern with feedback on other forums that needs to be addressed and lack of clarity on security measures such as cold wallet storage.
So, what's our final verdict?
It's too early to call on whether it makes our list for best cryptocurrency trading platforms. We will wait a few months and keep monitoring the exchange for further updates and news.
Although, if you're looking for a new crypto trading exchange, you should create an account with StormGain to test out its world-class features (or even use the demo account).
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