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. In this review, we take a closer look at what the exchange has to offer. Our methodology includes creating an account, depositing funds and trading leveraged contracts on the desktop version.
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StormGain is one of the best crypto exchanges in the UK that is available in over 200 countries worldwide with more than 5 million customers (according to their “About” page). The platform offers up to 500x leveraged trading on digital currencies. The cryptocurrency trading and investing platform that 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 reduce their portfolio exposure and limit the exchange rate risk which is typical of high volatility cryptocurrencies such as Bitcoin and Ethereum.
Some of the most notable features on the Stormgain platform are listed below:
- Rapid sign-up and registration process
- Up to 500 times leverage
- Competitive trading fees
- Powerful charting engine powered by TradingView charts
- Supports cryptocurrency mining
- Fiat support through Simplex
|Accepted Fiat Currency||USD, EUR & others (via 3rd party only)|
|Deposit Methods||Crypto only (unless using gateway)|
|Trading Fee||0.095% - 0.25%|
|Mobile App||Yes (Android and iOS)|
Quick Verdict on StormGain
StormGain is a well-balanced trading platform to speculate on digital currencies using USDT as collateral. Featuring an advanced charting and matching engine, StormGain boasts one of the better trading experiences for leverage traders on its desktop and mobile versions.
Beginners may be overwhelmed with all of the advanced trading tools on the trading platform which has up to 500x leverage on its crypto futures markets. Newer traders can easily swap crypto on the exchange for a low fee. Moreover, the wallet is a great way to earn interest on crypto which makes StormGain a viable exchange for new and experienced traders.Start trading with StormGain
StormGain Pros and Cons
StormGain is a full-service crypto exchange that features 500x leverage on futures, and even access to options trading. Users can also swap crypto with Tether, though the selection is limited. However, the spot trading platform is limited for advanced traders (just swaps), and there is very little crypto available to trade.
- Crypto futures with up to 500x leverage
- Over 50 contracts available for trading
- Options trading for BTC, ETH, and SOL
- iOS and Android supported mobile app
- Takes 10% of your profit per trade
- Limited interest-earning products
- Limited selection for spot trading
- Low liquidity on most spot trading pairs
Review of the Top Features on StormGain
With its modern interface, secure wallet, two-factor authentication, trading signals and excellent user-experience, StormGain is a serious crypto trading platform. Here are a few notable features.
StormGain User Interface & Trading Experience
StormGain features a unique and custom-built trading experience, utilizing one of the best crypto charting packages in TradingView, combined with a simplified layout. 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.
Spot trading offers a limited selection of crypto trading pairs, but there are two ways to exchange. One is a simple crypto swap order form, and the other is an advanced trading view. In advanced mode, users can place both market and limit/stop orders, but there are no advanced order types which is a limitation for serious crypto traders.
Using 'Full Screen' mode brings up the full charting window where you can add indicators, draw trend lines and patterns by right-clicking the chart. The charts are smooth, intuitive and responsive. Any technical drawing tools on the chart will remain as you leave the full-screen mode and switch to other cryptocurrency pairs which are useful.
StormGain Derivatives Trading (with Leverage)
StormGain has a leveraged crypto trading platform with up to 500x multiplier. While leverage trading with margin can be extremely risky, professional traders can maximize their potential profits on their positions by longing or shorting Bitcoin and other cryptocurrencies. Another feature of note is the settlement in the stablecoin 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 hedge their portfolio against sudden price movements.
We must caution that high-margin trading is not suited for beginners. Regardless, the StormGain platform has a well-built Futures platform that will appease advanced traders. However, it does not stack up in terms of liquidity with our list of the best crypto leverage platforms based on our comparisons.
StormGain allows its users to instantly swap crypto for 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. For a list of the best places to swap crypto, read this comparison article.
Earn Interest with StormGain Wallet
StormGain allows users 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 the 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 by trading more volume. One major disadvantage of the earning product on StormGain is that the interest earned cannot be withdrawn. It must be used for trading on the exchange and will not suit investors looking to earn a yield on their deposits. For a list of places to earn crypto interest and withdraw profits, read this article.
StormGain offers Bitcoin cloud mining on the platform, with higher mining GPU speeds given to users that have a high monthly trading volume. Users can earn Bitcoin in their StormGain account by simply hitting the “Activate” button. But users don’t actually earn Bitcoin, in fact, they earn virtual credits in their StormGain account which cannot be withdrawn. While this feature is called "Bitcoin Mining", it is not really the case and is very misleading. A better option would be to invest in some of the top Bitcoin mining pools available on exchanges such as Binance with actual payouts in BTC.
There are hundreds of cryptocurrency exchanges, however, not all have a crypto demo account to practice trading with virtual funds. StormGain's demo mode uses real crypto data to allow its users to simulate trading risk fees and to become familiar with the platform before funding a real account.
Advanced features such as a spot exchange, leveraged markets, advanced charting, and a mobile app are important features of StormGain. This comparison table lists alternate crypto trading platforms like StormGain that offer world-class features.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|319||0.02% / 0.07%|
|5% off trading fees||Visit FTX||FTX Review|
|81||0.06% / 0.01% (leverage), 0.1% (spot)|
|Deposit bonus up to $30,000||Visit Bybit||Bybit Review|
|100+||0.02% / 0.04%|
|Up to $100 welcome bonus||Visit Binance Fu...||Binance Futures Review|
|Up to 20% Bonus for deposits||Visit Stormgain||Stormgain Review|
Trading Volume & Liquidity
StormGain processes about $3 million in daily spot trading volume at the time of writing, which is a low volume compared to most other crypto exchanges. But for derivatives, it processes over $500 million in daily volume, which is a decent volume.
StormGain is not even given an average liquidity score by CoinMarketCap, and the spot trading volume is very low. This means that users placing large spot orders may end up paying higher prices due to excess slippage, making the spread fees possibly much higher than other exchanges.
StormGain supports most countries around the globe except the USA. There may be other countries that do not allow the trading of crypto derivatives and limit access to the platform. While Stormgain says they support “230+” countries around the globe, this is a bit misleading, as there are not that many countries in the world (just over 200 exist).
StormGain ID Verification Requirements
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.
Related: Where to trade crypto without KYC?
However, if you want to buy crypto with fiat using Simplex, an ID verification process must be completed in compliance with financial regulations.
Fiat Deposits & Withdrawals
StormGain does not support fiat deposits or withdrawals, but users can exchange fiat for crypto utilizing the third-party gateway on the platform, Simplex. The fees are high, with some transactions costing up to 5% for debit/credit cards.
StormGain only supports 12 cryptocurrencies on the spot trading platform, including BTC, ETH, LTC, XRP, USDT, BCH, DASH, ZEC, TRX, XLM, USDC and DAI. The platform includes its own multi-currency wallet to allow users to store their crypto assets while margin trading, or swapping digital assets on the exchange or storing purchased crypto. The built-in crypto wallet can secure up to 6 of the supported crypto assets that include:
- Tether USDT
- Bitcoin Cash
There are far more supported crypto in the futures markets, with StormGain supporting 58 trading pairs. And there are 3 crypto options markets, and 2 tokenized commodities available (gold and silver).
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.
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.
Derivatives Trading Fees
To trade crypto using the StormGain derivatives trading platform, the following fees will apply. In comparison to other exchanges, the fees are reasonable and competitive in the market.
Maker/Taker Fees = 0% (spread may apply)
Funding Rate = -0.050% - 0.050% (depending on trading pair)
|Trading Pair||Leverage||Commission||Swap Fee Buy)||Swap Fee (Sell)|
To instantly swap 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 less expensive compared to Binance which charges 0.1% on transactions. But swapping between ETH/BTC carries a higher 0.25% fee. Moreover, StormGain's fees are slightly cheaper when compared to a local exchange in the UK such as Coinfloor which has fees starting from 0.3% based on our review.
Here are some examples of the trading pair fees for spot trades:
|Trading Pair||Min. Size||Commission|
Deposit and Withdrawal Fees
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.
StormGain Mobile App
StormGain has a mobile app available for both Android and iOS. Users can trade on the app, as well as join Bitcoin mining, earn interest with the StormGain wallet, and trade futures and options contracts. The app has a lot of downloads and high ratings, but this does not mean current users are happy.
On the Android marketplace, the StormGain mobile shows over 5 million downloads and 126,000 reviews, at an average 4.6 / 5 rating. But the latest reviews are split, with a lot of 1-star reviews. It’s hard to tell if the ratings are accurate currently.
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.
Frequently Asked Questions
StormGain appears to be a reputable and trustworthy cryptocurrency trading exchange. The platform is a member of the Blockchain Association within the Financial Commission. StormGain is also an Official Sleeve Partner of the popular UK Football Club Newcastle United.
StormGain is a safe and secure crypto exchange that has never been hacked since it was established in 2019. The platform employs standard security measures for crypto exchanges, including cold storage for most crypto assets, multi-signature access restrictions, and SSL encryption. Users can also turn on additional security features with their account, including two-factor authentication and biometric access on mobile apps.
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.
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.
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 make it easy to manage trades. But there are limited trading features for advanced trading that want to spot trade and very low liquidity.
The fees for trading or swapping crypto directly on the exchange are very reasonable compared to other popular crypto margin platforms. But the additional withdrawal fee and high fees for fiat purchases are cause for concern. StormGain also keeps all interest earned on the platform, only allowing users to use it for trades. This includes the supposed “Bitcoin Mining” which doesn’t actually earn you Bitcoin, but just trading credits.