Content on this website is NOT Financial Advice and shouldn't be taken as such.
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. 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.
Best Alternative: eToro
- Global Fintech Leader
- Regulated by Top Tier Authorities
- Buy and Sell Crypto Instantly
- Easy Deposits & Withdrawals
- Copy Other Crypto Traders
- Secure eToro Wallet
Disclaimer: Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available.
Summary
StormGain is a broker many traders prefer 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.
If you are looking for a great alternative, eToro is our #1 for copy trading and Plus500 CFD broker.
Overview
| Feature | StormGain |
|---|---|
| Foundation Year | 2019 |
| Headquarters | UK |
| Minimum Deposit | $50 |
| Trading Fee | 0.095% for Bitcoin |
| Withdrawal Fee | Depends on the coin |
| Leverage | Up to 200x |
| Demo Account | Yes |
| Available Cryptocurrencies | Bitcoin, Bitcoin Cash, Ethereum, Tether, Litecoin, and Ripple. |
| Islamic Account | Yes |
| 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. |
| Our Score | 4/5 |
Pros and Cons
While there is a lot to love about StormGain, like the simple yet efficient IU and attractive commission, there are some drawbacks of the broker that you should pay attention to before starting trading on it.
| Pros | Cons |
|---|---|
| Up-to-date, beginner-friendly charting interface | Limited tools and research |
| High leverage | Limited crypto pairs |
| Demo Account | 0.1 percentage withdrawal fee for crypto |
| USDT stablecoin | No automated bots |
| Instant withdrawal processing | |
| Deposit bonuses | |
| Low trading fees | |
| Crypto mining tool |
StormGain Compared to Similar Brokers
Below is a comparison list between StormGain and competing brokers for you to better understand this broker and 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 |
Regulation
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.
Stormgain Bonus
The StormGain sign up bonus code for 2021 is BONUS25. To use the promo code you have to register on the StormGain crypto trading platform and input the bonus reward code. You can then claim a $25 USDT welcome deposit bonus. The promotional code is available for new StormGain customer and is valid in your country.
As part of a loyalty program, StormGain provides deposit bonuses for all accounts, with benefits ranging from 5% for Gold members to 20% for VIP 3 members. Users can trade Bonus funds, but they can't withdraw them. They can also earn up to 12 percent interest on deposits, with rates starting at 3 percent for Gold members and up to 12 percent for VIP 3 members. Previously, StormGain had a promo code for a 25 USDT no deposit bonus as well as a Coin Contest. So, you should regularly check the platform for future promotional offers and competitions.
How do I Activate My Bonus?
- Step1 – Register on StormGain. Enter your email and phone number.
- Enter the promo code. Input the promo code “BONUS25” when registering and claim your free $25 USDT.
- Make a first deposit of at least 100 USDT to activate the promotional code.
- Start trading and claim your free $25 USDT.
Platform
StormGain offers their customers a unique trading platform experience. You get to pick from 9 different time-frames and enable your trades with the maximum computing advantage.
StormGain, unlike many trading platforms, provides simultaneous access to several charting tools, which helps customers in keeping track of pricing changes. The platform's full-screen mode is particularly useful for viewing all 40 technical indicators, including third-party plugins like Ichimoku Cloud and Stochastics.
The StormGain platform's user interface displays all information about the exchange as well as how to store and trade cryptocurrencies. The user interface ensures that traders are engaged and have a smooth experience. The UI is more user-friendly thanks to 24/7 access to technical analysis, push notifications, signals, and charting tools.
Mobile App
The platform's mobile crypto mining interface is also handy for on-the-go trading. The website is compatible with both Windows and iOS devices. And users can download and install the mobile app on their smartphones and tablets. StormGain is now available on Google Play and the Apple App Store. This platform can function easily on mobile and tablet devices that support the iOS and Android platforms.
The all-in-one app from StormGain offers everything traders need from exchanging to trading cryptocurrencies.
Assets
Customers can trade over 20 cryptocurrency futures contracts, which include commonly-used pairs such as NEO/USDT and DASH/BTC.
They can also buy and hold cryptocurrencies in an integrated crypto wallet in the following 6 popular currencies:
- Bitcoin
- Bitcoin Cash
- Ethereum
- Tether
- Litecoin
- 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
Demo Account
You can start with a demo account on StormGain with 50,000 USDT in virtual funds, which allows you to practice your trading skills and test the waters before committing to a genuine account.
The account can remain active for an indefinite amount of time, and you get to easily switch between demo accounts and real accounts from the dashboard.
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.
Crypto Wallet
StormGain allows users to trade over 20 cryptocurrency futures and smart contracts, including popular crypto trading pairs like DASH – Bitcoin (BTC) and Neo–Tether (USDT). Users of StormGain benefit from the minimum deposit, too, meaning that they get to buy and keep coins at low prices for a longer period, increasing their earnings.
Users can store their crypto assets in the platform's multi-currency wallet while margin trading, swapping assets on the exchange, or storing crypto. Up to 6 prominent crypto assets can be secured in the built-in crypto wallet, including:
- Bitcoin
- Ethereum
- Litecoin
- Bitcoin Cash
- XRP
- Tether USDT
To keep users’ funds safe, StormGain's wallet employs several security features like encryption and two-factor authentication. The e-wallet is essential for investors on StormGain, since It offers them a safe place to deposit and withdraw their funds on the platform.
The cryptocurrency assets that can be withdrawn from this broker may be limited by third-party wallets. It does, however, come with a built-in crypto wallet that handles all deposits and withdrawals with ease.
On both iOS and Android smartphones, the wallet app is accessible. To get the free StormGain wallet, go to their website and fill out a brief registration form.
Deposit
Real money can be deposited into the StormGain user account by all investors and small-time traders. The wallet allows users to buy Bitcoin with a credit card or transfer Bitcoin they currently own to the StormGain wallet. It also allows you to transfer 5 additional cryptocurrencies (though the process of transferring already-owned coins is faster).
Users can also choose from a list of StormGain-supported and integrated cryptocurrency wallets. The “Deposit” option is on the right-hand side of the wallet page. To view all of the wallet's deposit options, select this option.
Withdrawal
You can withdraw your cryptocurrencies from your StormGain wallet to another wallet. Traders, as of now, are not yet able to withdraw their cryptocurrencies by transferring them to bank accounts.
StormGain does not enable the exchange of crypto into fiat currency. To withdraw crypto, you must select the wallet from the listed options only. The “Withdraw” option is located on the right-hand side of the interface. The user must provide the other wallet's destination address here. The QR code can also be pasted here. Make sure to submit the correct information since there is no retrieval or refund policy for crypto assets lost permanently due to incorrect information.
Tools
StormGain’s platform is a visually appealing user interface that features a powerful and easy-to-use cryptocurrency trading platform for users to analyze price charts and make profitable decisions.
Indicators, Advanced crypto trading tools, and a full-screen option are all included in the charting system. The responsive user interface of StormGain was designed with a focus on simplicity, making it convenient for both novices and expert traders.
Education
StormGain offers users straightforward, easy-to-understand training programs. Even for beginners, learning how to trade is simple.
The platform provides a wealth of materials to educate users on the most up-to-date and proven ways for making money in the market.
Commission
On StormGain, there is more than one type of commission/interest. For example, there is an exchange commission for converting a cryptocurrency into another, which is charged at the conversion time. There is also a transaction commission on trades made with leverage, which is charged when a trade is opened or canceled. Finally, the financing rate's interest might be either positive or negative.
StormGain offers a profitable multiplier on crypto trading commissions. You can trade with a leverage of up to 200 times your investment.
StormGain, compared to other brokers, offers high leverage and fair commissions for novices. It's also worth noting that such high leverage might result in big losses.
Fees
Not only are the commissions attractive, but so are the pricing options. StormGain displays the trading fees transparently on their website. The platform charges commissions for crypto trading and doesn’t support spreads.
Every user pays commissions between 0.19 percent and 0.20 percent on the USDT and BTC trading pairs, respectively. This fee varies depending on the exchange service, ranging from 0.095 percent to 0.25 percent.
There are no fees associated with transferring cryptocurrency to the StormGain platform. When sending cryptocurrency to another platform or a hardware wallet, there is a 0.1 percent withdrawal charge. Maximum and minimum limits apply depending on the crypto asset (check the website). The withdrawal fee is not usual since most exchanges charge only the standard mining fee for the blockchain network.
Leverage
StormGain offers an 200x multiplier on crypto trading, which is greater than most brokers.
Although it may appear appealing, novices should know that too much leverage can result in just as many losses as gains. But if you want to trade big with little money, this broker is an excellent choice.
Additional Features
The new Cloud Miner tool, which enables traders to mine their cryptocurrency from their mobile without needing additional equipment, is a standout feature of StormGain's platform. Once you've created an account, you can use the tool for free.
Simply use the program and start mining every four hours until you have your first 10 USDT worth of cryptocurrency to trade.
You can benefit from other features on StormGain, like the news forum section with articles and tips, video education, and starting classes.
Customer Service
One thing you should remember when deciding to trade on a particular broker is the quality of customer support. The customer service of StormGain answers technical questions and explains how the StormGain platform works. StormGain's support team uses cutting-edge technology to resolve customer issues.
Client feedback is positive, and the team has sufficient experience to assist traders, even those who are still testing on a demo account. They provide a live chat service presently accessible in two languages: English and Russian. The same assistance is available on phone, email, and telegram.
Email: [email protected]
Phone number: +248 467 19 57
Telegram: Located near the bottom of the webpage, under the logo.
Is StormGain Safe To Use?
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.
Stormgain Verdict
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 cryptocurrency exchange that offers margin trading with high leverage, 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
What is the procedure for deleting my StormGain account?
Whether you want to delete your live or demo account, you should contact customer service, who will give you an online request form to fill out.
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.
Does StormGain support PayPal?
Currently, StormGain doesn't accept PayPal. Traders can use debit and credit cards, as well as cryptocurrency wallets, to finance their accounts.
How to make a deposit on StormGain?
To make a deposit, head to your account's ‘Buy Crypto With Credit Card' section, then to the Deposit section, where you can choose your wallet and payment method. Choose how much cryptocurrency you want to buy and then fill out your card and billing information in Simplex. The minimum deposit that can be made is $50.
