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StormGain Review 2022: Is It Safe & Worth Using?

Updated: Jul 13th, 2022
Kevin Groves
Kevin Groves
StormGain Review 2022: Is It Safe & Worth Using?

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.

HedgewithCrypto Score
HedgewithCrypto Score
4.1/5Our ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Stormgain

Trading Fees:0.095% (BTC)
Country:United Kingdom
Currency:Crypto only
Promotion:Up to 20% Bonus for deposits

Key Features

  • Rapid sign up and registration process
  • Up to 200 times leverage
  • Competitive trading fees
  • Powerful charting engine powered by TradingView charts
  • Supports cryptocurrency mining
  • 4.4 star rating based on 557 reviews

Stormgain is a popular trading exchange in the United Kingdom that offers a complete platform for investors and traders alike to buy, store, trade, swap, earn and learn about cryptocurrencies. The exchange has a unique feature of zero-fee trading, instead, a profit share of 10% is taken only from profitable trades.

Key Features

  • Rapid sign up and registration process
  • Up to 200 times leverage
  • Competitive trading fees
  • Powerful charting engine powered by TradingView charts
  • Supports cryptocurrency mining
  • 4.4 star rating based on 557 reviews

Stormgain is a popular trading exchange in the United Kingdom that offers a complete platform for investors and traders alike to buy, store, trade, swap, earn and learn about cryptocurrencies. The exchange has a unique feature of zero-fee trading, instead, a profit share of 10% is taken only from profitable trades.

Ease of useStarStarStarStarEmpty Star
ReputationStarStarStarStarEmpty Star
Deposit methodsStarStarStarStarEmpty Star
FeesStarStarStarStarEmpty Star

This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

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.

What Is StormGain?

StormGain is one of the best 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 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.

stormgain websitestormgain website

Quick Overview

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 best trading experiences for leverage traders on its desktop and mobile versions.

Exchange NameStormGain
Fiat GatewayYes (credit card only)
Trading Pairs8
LeverageUp to 200x
Trading Fee0.095% (BTC)
TP/SL OrdersYes
Mobile AppYes

StormGain Compared

Advanced features such as a spot exchange, leveraged markets, advanced charting and a mobile app are important features on StormGain. This comparison table lists alternate crypto trading platforms like StormGain that offer world-class features.

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 public information on the specific security measures implemented to protect the website and user wallets. We would like to see this added for clarity and to provide transparency to its users.

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 a few 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 that includes a powerful and simple cryptocurrency trading platform for traders to analyze the price charts. The charting system is packed with crypto trading software, indicators and a full-screen mode. StormGain's elegant and responsive user interface has been designed with a simplicity that is easy to use for beginners and advanced traders.

Related: The best free crypto charting software.

stormgain charting windowstormgain charting window

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 by longing or shorting Bitcoin and other cryptocurrencies. 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.

stormgain featuresstormgain features

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 practice 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.

Supported Assets

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:

  • Bitcoin
  • Ethereum
  • Litecoin
  • XRP
  • Tether USDT
  • Bitcoin Cash
  • SafeMoon
stormgain walletstormgain wallet

Registration & Verification

To open an account with StormGain, the process is straightforward 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 Experience

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.

stormgain charting interfacestormgain charting interface

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.

stormgain chartsstormgain charts

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.

stormgain open tradestormgain open trade

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 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.

Earn Interest With StormGain

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 Swaps

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.

stormgain swap cryptostormgain swap crypto

What Are The Fees?

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.

Trading PairLeverageCommissionSwap Fee Buy)Swap Fee (Sell)
BTC/USDT200-0.06%-0.021%0.002%
ETH/BTC50-1%-0.021%0.002%
LTC/USDT100-0.066%-0.021%0.002%
BCH/USDT100-1%-0.021%0.002%
ETH/USDT100-0.9%-0.021%0.002%
XRP/USDT100-0.2%-0.021%0.002%

Exchange Fees

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 more expensive compared to Binance which charges 0.1% on transactions. However, 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%.

Trading PairMin. SizeCommission
BTC/USDT0.00001 BTC0.095%
ETH/BTC0.000000001 ETH0.25%
LTC/BTC0.00001 LTC0.25%
LTC/USDT0.001 LTC0.095%
ETH/USDT0.0001 ETH0.095%
XRP/USDT0.1 XRP0.095%

Deposit & 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.

Security

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.

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.

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

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.

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.

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. 

Visit StormGain

The fees for trading or swapping crypto directly on the exchange are very reasonable compared to other popular crypto margin platforms. However, there is a concern with feedback on other forums that need to be addressed and lack of clarity on security measures such as cold wallet storage.

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Kevin GrovesKevin GrovesKevin Groves

Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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