StormGain Review

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Bottom line:

StormGain is a well-balanced trading platform to speculate on digital currencies using USDT as collateral. Featuring advanced trading tools and an equally impressive engine, StormGain boasts one of the better trading experiences for leverage traders. However, beginners may be overwhelmed by the advanced features, busy interface, and 1:500 leverage. Furthermore, only ten assets are available for spot trading, meaning StormGain is only really suited as a leverage trading platform.

Pros Explained

• Up to 500x leverage. Experienced traders can take advantage of the high leverage limits to earn profits from small movements in the market or boost their earnings without high capital.
• Competitive spot trading fees. Although StormGain's fee structure is convoluted, users can trade selected spot pairs for 0.095%, which is 0.005% cheaper than Binance.
• Free demo account. Users wishing to practice trading or work on new strategies can use a StormGain demo account with $50,000 worth of virtual funds.

Cons Explained

• 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. While StormGain states that it takes no commission on trades, the company takes 10% of the earnings on profitable derivative trades, which is exceptionally high. Moreover, crypto withdrawal fees are very high.

StormGain Compared and Alternatives

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance Futures	229+	0.02% (maker) / 0.04% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance Fu…	Binance Futures…
ByBit	331 (608 trading pairs)	0% (spot), 0.06% / 0.01% (futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	0% trading fees for 30 days (spot only)	Visit ByBit	ByBit Review
eToro	79	1%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	None available at this time	Visit eToro Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.	eToro Review

StormGain At A Glance

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 features cutting-edge charting and trading tools.

Exchange Name	StormGain
Features	Spot Exchange, Unlocked Staking, 500x Leverage, Swaps, Cloud Mining, Demo Account
Accepted Fiat Currencies	USD, EUR, GBP, +13 Others
Deposit Methods	Bank Transfer, Credit/Debit Card
Supported Cryptocurrencies	10
Number of Trading Pairs	80
Trading Fee	0.095% to 0.25%
Customer Support	Help Center, Ticket System, Telegram Group
Security Measures	2FA, AES-256 Encryption, Real-Time Monitoring, Cold Storage
Mobile App	Yes (Android and IOS)

StormGain Features & Services Reviewed

StormGain Leverage Trading

One of the most attractive features of the StormGain exchange is its availability of high-leverage trading. Users can boost their profits and losses by up to 500x using StormGain by longing or shorting Bitcoin and other cryptocurrencies.

However, we must caution that high-margin trading is not suited for beginners. Regardless, the StormGain platform has a well-built Futures exchange that will appease advanced traders. However, it does not stack up in liquidity against our list of the leading crypto leverage platforms.

Demo Account

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. Because StormGain uses live pricing for its demo accounts (unlike a testnet), users can sharpen their skills and build strategies designed for live trading with real funds.

Unlocked Staking

A unique feature offered by StormGain is its unlocked staking, which enables users to earn rewards passively on funds held in a StormGain wallet without worrying about lockup periods. Although the rewards offered through unlocked staking are low, at 2% APY, they can be boosted in line with trading volume as part of the StormGain loyalty program. Users that complete at least $150,000 worth of trades in a month can attain 10% staking APY, with a maximum rate of 20% available to those with more than $75 million monthly trading volume.

Furthermore, customers are not required to pledge their tokens to earn rewards. Instead, users need only hold USDT in their wallets. As such, users can use their staked funds for trading, providing far more freedom than most other trading platforms. Read this article for a list of places to stake crypto.

StormGain Swaps

StormGain allows its users to instantly swap one cryptocurrency for another using the in-built swap feature. 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 standard commission rate for crypto swaps begins at 0.095% and can be reduced via the loyalty program. Unfortunately, the range of cryptocurrencies available to swap on StormGain could be much higher but the fees are quite reasonable.

Bitcoin Cloud Mining Tool

An intriguing feature offered by StormGain is its innovative cloud mining platform. Using this feature, customers can passively earn rewards by simply clicking a button every four hours. Rewards are meager, with base users making $0.38 daily if they consistently reactive the miner every four hours.

Although rewards are initially low, users can boost their earnings by trading on StormGain. By completing over $150,000 worth of trades in a month, users can earn $0.77 daily. The rewards rate can be increased by 530x with over $75,000,000 trading volume, which results in daily earnings of just over $400.

Previously, the mining tool offered by StormGain only paid out virtual currency that was not tradable. However, the tool has now been fully released, allowing users to withdraw their funds for trading after earning at least $10.

With that said, the service provided by StormGain is more akin to rewarding traders that are active rather than typical Bitcoin mining. Users wishing to get directly involved in the mining industry should consider other Bitcoin mining pools which are significantly larger and have a variety of payout methods.

Loyalty Program

StormGain offers a loyalty program designed to reward its most active users. Tiers are based on trading volume and impact staking APY, swap commission, and mining speed. The perks are useful for those immersed within the StormGain platform, however, there are no trading fee discounts on the spot or futures exchanges like most exchanges on the market.

Trading Volume	Unlocked Staking APY	Swap Commission	Mining Speed
$0	2%	0.095%	0.5x
$150,000	10%	0.085%	1x
$750,000	11%	0.08%	3x
$2.5 Million	12%	0.075%	12x

Creating and Verifying a StormGain Account

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 Know Your Customer (KYC) verification or submit personnel documentation. This will be appealing to some traders that prefer to remain anonymous and prefer to use a non-KYC crypto trading exchange.

However, users wanting to buy crypto with fiat on StormGain must complete the verification process by providing a photo ID (passport, driving license) and proof of address (utility bill, bank statement).

Supported Fiat Currencies & Deposit Methods

StormGain supports deposits using cryptocurrency and fiat currencies via bank transfer or credit/debit card. Customers can deposit 16 fiat currencies, including USD, GBP, and EUR, to StormGain for free using a SEPA transfer.

However, for amounts under $250, users can exchange fiat for crypto by utilizing a supported third-party gateway on the platform, which include Simplex and Koinal. However, the fees for credit/debit cards are high with these providers, with transactions costing up to 4% which is well above market rates and should be avoided.

Supported Cryptocurrencies and Trading Pairs

StormGain only supports ten cryptocurrencies on the spot trading platform; BTC, ETH, LTC, XRP, USDT, BCH, DASH, ZEC, TRX, and XLM. However, users can access 14 spot trading pairs denominated in USDT and BTC. Additionally, two tokenized commodities (gold and silver) can be traded on StormGain.

There are far more supported cryptocurrencies in the futures market, with StormGain supporting 61 cryptocurrency-based trading pairs, three indices, two crypto options trading contracts, and two commodities pairs.

StormGain Fees

Spot trading fees

Trading fees are an essential consideration when deciding which cryptocurrency exchange to use. Unfortunately, StormGain utilizes a needlessly complex fee structure, with the fees charged differing based on the trading pair and market.

For trading spot markets, most USDT-denominated trading pairs will cost 0.095% per transaction, while crypto-denominated pairs are typically priced at 0.25% per trade. However, there are a couple of notable exceptions. For example, XLM/USDT and ZEC/USDT both incur fees of 0.25% per trade. Due to this complex fee structure, a user should head to the StormGain website to double-check the charges for a specific pair before placing a trade.

Derivatives Trading Fees

When trading using leverage, the fees charged by StormGain differ slightly. Although the exchange doesn't charge a direct commission fee, the platform takes a 10% ‘profit share' from profitable trades. Furthermore, an additional funding charge applies at a rate of 0.01% per eight hours.

Deposit and Withdrawal Fees

There are no fees to deposit crypto onto the StormGain platform. However, a 0.1% withdrawal fee applies when withdrawing crypto off the exchange to another platform or a hardware wallet. The withdrawal fee is unusually high, considering most exchanges only charge the standard network mining fee.

For fiat deposits, bank transfer payments are free, but users wishing to deposit less than $250 in a single transaction will have to transact via Simplex or Koinal, which charge 3.5% to 4% fees.

StormGain Fees Compared

Due to the complex fee structure, it can be challenging to determine how StormGain compares to other popular trading platforms. While the 0.095% trading fee is slightly cheaper than exchanges like Binance or ByBit, the 0.25% fee is comparable to exchanges like Coinbase, which has costs starting from 0.4%/0.6% (maker/taker) based on our review, and also CoinCorner (0.3% fee), which is a local UK exchange.

Exchange Name	Trading Fees
Crypto.com	0.075%
StormGain	0.095%
Binance	0.1%
CoinCorner	0.3%
eToro	1%

StormGain Ease of Use

StormGain features a unique and custom-built interface, combining one of the best crypto charting packages, TradingView, with a simplified layout. The user interface has expected trading features, including over 30 technical indicators and various drawing tools helpful in finding new trading opportunities.

StormGain offers two ways to trade, a simple crypto swap order form and an advanced trading interface complete with analysis tools, making the platform accessible for beginners and more experienced users. However, despite offering an advanced mode, users can only place market, limit, and stop orders, which is a significant limitation for serious crypto traders.

Using ‘Full Screen' mode brings up the complete charting interface where users can add popular crypto indicators and analyze using drawing tools. The charts are smooth, intuitive, and responsive. Furthermore, any analysis on the chart will remain even after leaving the full-screen mode and switching to other cryptocurrency pairs, which is helpful.

With StormGain being easy to navigate, offering simple/advanced modes, and boasting ample analysis tools, the platform is ideal for traders of all experience levels. However, the limited range of order types could cause issues for advanced traders looking to enter and exit trades precisely.

StormGain Mobile App

The StormGain mobile app is available on IOS and Android platforms and enables users to engage in Bitcoin mining, trading, and staking. The app has been downloaded over 1,400 times on the App Store and boasts an average rating of 4.3 / 5 stars.

The StormGain mobile app is highly versatile, with users able to utilize almost every service on the desktop version of the online trading platform. After logging into the app, users are shown a list of available instruments, with features like the exchange and the integrated crypto wallet accessible via the bottom navigation bar. People trading on the StormGain app can access multiple markets, including spot, futures, commodities, and Bitcoin/Ethereum options contracts. Furthermore, the StormGain app offers AI-generated crypto signals available exclusively on mobile.

Technical traders looking for a mobile platform to perform analysis will be disappointed because while the StormGain app lets users access a plethora of indicators and various chart types, no in-built drawing tools make plotting complex strategies challenging. Another downside of the StormGain app is its lack of order types. Users can choose between market, limit, and stop orders, meaning there are few options available for traders looking to enter a position precisely.

While the analysis tools could be improved, the StormGain mobile app is phenomenal for its earning products. Users can access the cloud mining tool and the unlocked staking feature, which enables anyone with a StormGain account to earn interest on their holdings while simultaneously using the funds for trading. In short, the StormGain mobile app is well-designed and offers many exciting features. However, it lacks the tools to perform detailed analysis, so the app is better suited to investors than experienced technical traders.

Customer Support

Customer service is an essential factor when using a particular cryptocurrency exchange. We noticed that StormGain has a 24/7 live Telegram chatbot that responds promptly. Additionally, StormGain provides the ability to create a ticket to receive email support from a customer service representative. However, there is no timeframe provided for a response.

StormGain also has a ‘Knowledge Base' which provides over 70 guides and troubleshooting articles for common issues and questions. The sections are divided into categories with a search bar so customers can easily browse and view topics of interest.

Security Measures

StormGain has avoided being compromised and hacked, likely thanks to the team implementing a series of advanced safety measures. While account-centric security measures are limited to two-factor authentication (2FA), the online crypto trading platform has implemented system-level protective measures. These include AES-256 encryption for data, real-time activity monitoring, multi-signature wallets, and hardware wallets for client funds.

Although the addition of further account-level measures, like IP/withdrawal address whitelisting and device management, would be an improvement, StormGain remains a secure trading platform that places a great deal of importance on protecting its customers.

Frequently Asked Questions

How We Rated StormGain

Review Criteria	Hedge With Crypto Rating
Features	4 / 5
Supported Fiat and Deposit Methods	3 / 5
Supported Crypto & Trading Pairs	2 / 5
Fees	2 / 5
Ease of Use	4 / 5
Customer support	4 / 5
Security Measures	4 / 5
Mobile App	4 / 5