In the cryptosphere, there are hundreds of crypto exchange platforms, yet only a few exchanges that can make their presence felt. And, StormGain is one of those exchanges.
StormGain is a relatively new fully-featured crypto margin trading platform that stormed the market with its innovative product offering and unique features. It aims to provide a platform experience that goes beyond just simple trades.
In a very short duration, the exchange has successfully generated a lot of interest around it. It has over 120,000 registered users from over 100 countries. However, many questions are going around regarding its safety, legitimacy, and efficacy of the trading platform.
Therefore, in this review article, we will look at those points and check how good StormGain is actually. Let’s begin.
What Is StormGain?
StormGain was launched in July 2019 and is registered in Seychelles and headquartered in London, England.
The platform is designed for every type of trader and offers over-the-counter (OTC) trading, leverage trading, and a multi-currency crypto wallet. It allows trading in some of the most popular and capitalized cryptocurrencies. It gets an average daily trading volume of close to $1 million.
Being a new crypto exchange, it has found mentions in some of the leading mainstream news websites and is also nominated as an emerging fintech startup. StormGain is also the official sleeve partner of Newcastle United.
Other than trading in cryptocurrencies, you can also earn interest of up to 10% on your crypto deposit, one of the first exchanges to do so.
Leverage offerings, Supported Coins, & Contracts
StormGain supports trading in five different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH) and one stablecoin Tether (USDT) in regular exchange trading.
Under leveraged trading, it offers trading in 23 different crypto-to-crypto trading pairs and is settled in USDT.
It offers floating leverage of up 200X on BTCUSDT pair, up to 100X on LTCUSDT, BCHUSDT, ETHUDT, and XRPUSDT trading pairs. On the rest of the trading pairs, it offers up to 50X leverage. The platform puts minimum leverage of 5X on every trading pair except XEMUSDT, which has minimum leverage of 10X.
Platform Trading Fees
StormGain follows a flat-fee pricing model and has a very competitive rate structure.
For OTC trades, the commission per trade ranges between 0.095 – 0.25%. Whereas, for leveraged trading, the commission per trade ranges between 0.06 – 1%.
The most liquid trading pairs have the lowest commission rates, and the rest of the trading pairs are charged with the highest commission rates in the platform.
For leveraged trades, the daily funding rate for long positions is 0.40%, and for the short position ranges between 0.04 -0.4%.
Now, coming to funding options, the platform supports both fiat and crypto deposits. It supports fiat deposits through bank cards and charges a commission rate of 5% or $10, whichever is less. The minimum deposit limit for fiat currency is 50 USD and 50 EUR. Check the deposit limit for other fiat currency on the website.
Regarding crypto deposits, it supports USDT, BTC, BCH, ETH, LTC, and XRP and has different minimum deposit limits for every cryptocurrency.
Stormgain offers up to a 15% bonus on each deposit.
StormGain has a very different trading platform and interface compared to other crypto margin trading platforms in the market. The platform’s minimalistic design removes the noise and makes it look easy to the eyes.
Trading in the StormGain platform is straightforward, where you just need to select your trading pair and click on ‘open order.’ You can place multiple order types viz market order, limit order, stop loss, and take profit order. However, the platform has eliminated the order book, recent trades widgets, which might become difficult for some. Some other unique features are:
- TA Tools and Charts
The platform offers a host of different technical indicators and tools for advanced technical studies. For the convenience of users, it has categorized different indicators by trends, oscillators, and volatility.
It also features a professional chart, where you can select bar, line, candle chart types for viewing and choose from 9 different time-frames ranging from 1 min to 1 month for a comprehensive analysis.
- Sentiment meter
The sentiment meter shows the trader’s sentiment of a particular trading pair based on active trades. It helps traders to determine the market sentiment, price trends, and place a long or short trade accordingly.
- Trading signals
StormGain offers free trading recommendations to its users. With the help of in-house trading experts, artificial intelligence, and using various models of market analysis, it generates trade signals.
The exchange claims to have a forecast accuracy of 70%, the claim which is not verified from our side.
- Demo trading account
To help users familiarize themselves with the trading platform and features, it offers a 50,000USDT pre-funded demo trading account without any risks.
How To start trading on StormGain
Despite offering fiat deposits, StormGain does not require KYC verification from its users, which means it supports anonymity.
The registration process with StormGain is quite easy and can be completed within minutes. Click on the “Create an account” button present on the top right corner of the website.
Enter your valid email address, phone number, password, and then accept the terms and conditions and confirm that you are not a US citizen.
Click on the “Register” button, and your account registration process completes.
You need to make a minimum of 50 USDT to start your trading journey. Click on deposit under the “My Wallet” section present on the right side of the screen.
You need to verify your email address and phone number to make your first deposit in the wallet.
As compared to other exchanges, where you need to swap your crypto coins from a third-party platform, in StormGain, you can instantly swap your crypto coins.
After a successful deposit, click on the “Exchange” option present in the menu bar and swap your deposits to the coins required at the lowest exchange rate.
After a successful deposit of funds, you can now directly go to the “Trade” section and start your trading journey.
Customer Support & Assets Security
StormGain has a 24/7 online customer support desk and provides support through live chat for quick resolution of the matter, email-support (firstname.lastname@example.org), and Telegram support bot.
It also offers a knowledge base and video tutorials, where users can learn more about the platform features and can find all the common issues faced by users.
StormGain has a strong social media presence, which you can follow to know about the latest updates and offers.
Now, coming platform security, StormGain has a strong focus on platform security and asset security. All the user’s funds are stored on cold wallets to prevent theft and hacking. And, as an additional layer of security while withdrawals, users need to authenticate their withdrawal request via two-factor authentication through Google Authenticator app.
Conclusion: Is StormGain safe & legit?
StormGain is not only safe, and a legit crypto exchange platform, but has the most user-friendly trading platform suitable for all types of traders, from beginners to professionals. The exchange is one of the highly-rated exchange platforms on Trustpilot, a reputed review website for cryptos.
Now, let’s have a look at some of the unparalleled benefits of StormGain:
- High leverage of up to 200X
- Highly competitive trading fees
- Wide range of trading pairs
- Robust and reliable trading platform
- Supports both fiat and crypto deposits
- Instant crypto swaps
- Multi-currency crypto wallets
- Quick and easy registration
- AI-generated trade signals
- Low deposit limits
- No KYC verification for users
- Nicely-built mobile app
- Free signals for mobile app users
- Good customer support
In short, StormGain is very easy to deal with and is a futuristic trading platform that is designed to meet the needs of traders and provide seamless trading experience.
Now you tell us: When are you going to try StormGain? Which leverage exchange are you using now in crypto? What support would you need from us? Tell us in the comments below 🙂