StormGain is a relatively new crypto broker and exchange platform. Established in 2019, the brokerage platform has gained immense popularity to become a recognised brand among crypto exchanges. The platform was founded with the aim of offering new unique features that set it apart from the crowd. Its core services include leveraged crypto trading, a regular exchange, instant exchange, and a multi-currency crypto wallet. Short Selling's review takes an in-depth look at the platforms features, fees, trading tools and order types, and customer service. Tired of waiting? Sign-up with Stormgain now!
Equipped with a range of features and trading tools, StormGain is designed for both novice and experienced traders. Opening an account and trading with StormGain is quite simple and straightforward. While most crypto trading platforms have strict and restrictive KYC requirements, StormGain does not require users to undergo the tedious and time-consuming KYC, making the account opening process very easy. When opening a trade, the user has the option to open the trade now or at the price which is the difference between a market and a limit order. Theres also an option to select a profit and loss before opening a trade.
The trading interface is user-friendly, not to mention the trading charts which are provided by the exchange itself and are highly customizable. In addition, the interface is cutting edge, comes with a secure wallet, and features two-factor authentication. It also caters to investors who prefer to go short, buy and hold by allowing them to purchase crypto with fiat via debit and credit cards.
The brokerage platform offers up to 200x leverage in short selling for the BTC/USDT pair. However, all other cryptos on the platform have a maximum leverage of 50x. This makes StormGain fall in the same ballpark as ByBit, PrimeBit, Deribit, and PrimeXBT but dwarf competitors like Binance Futures and BitMex.
The fees and costs for trading at StormGain are very reasonable. The fees vary depending on the cryptocurrency pairing that is traded which can range between 0.15% to 0.25% for an individual position. Worth mentioning is the open-position fees of up to -0.04% per day (applicable to margin trading).
StormGain does not charge a deposit fee for transferring crypto. However, a fee is charged when funding an account using a credit or debit card. A flat withdrawal fee of 0.1% applies when sending cryptocurrencies to another platform or a hardware wallet. In such a case, the minimum and maximum limits apply depending on the crypto asset.
Free demo account this trading platform offers a free demo account to new users with 50,000 USDT for free-risk practice before trading with a live account.
Lowest exchange and trading commissions with StormGain, users get to trade and exchange cryptocurrencies with the lowest commissions on the market.
2-factor authentication user security is a priority at StormGain. Consequently, the platform uses two steps for login and identification, using Google Authenticator or an SMS code.
10% interest rate all deposits made to a traders account earn an annual rate of up to 10%.
Cold wallets every account comes with a multi-currency wallet where users can store their crypto assets as well as margin trade, store-purchased crypto, or swap assets on an exchange. The built-in wallet can hold up to six crypto assets; Bitcoin, Litecoin, Bitcoin Cash, Ethereum, XRP, and Tether USDT.
No regulation the site is currently unregulated, like most other cryptocurrency plattforms. However, its legal team ensures that sufficient control measures are put into place.
Does not support the exchange of cryptocurrency into fiat. Only cryptos can be withdrawn.
Accounts can only be funded with cryptocurrencies.
StormGain has a proprietary trading platform that is available in web and mobile versions. The web version is compatible with Mac, Windows, and Linux OS. Additionally, it is compatible with major browsers and can be accessed from mobile devices including tablets and smartphones.
The platform offers a mobile app for both Android and IOS devices. The app, just like the desktop version, has a user-friendly design and contains all main features to make the trading experience enjoyable wherever you are. Regardless if you prefer trading with the widest range of crypto currencies or simply would like to buy them with a credit card - you can do both at StormGain.
The trading platform offers 24/7 customer support. The support team is reachable through:
Help line - +248 467 19 57
Live chat the live chat function is available 24/7. It is quick and users can expect a response from an operator within five minutes of submitting a query.
Email traders can also send emails directly to the support team via [email protected]
Social media the platform has a strong social media presence. While there are lots of tutorials on their social media platforms, members who have questions can reach the support team via Facebook, Twitter LinkedIn, and YouTube.
Additionally, StormGain has a Knowledge Base which offers useful and comprehensive guides, answers to commonly asked questions, and video tutorials for support.
*Is StormGain a reliable broker for shorting?
Traders looking to go short can rely on StormGain to trade and exchange cryptocurrencies. The platform is a member of the Blockchain Association within the Financial Commission. Also, it seems to be a legit trading exchange platform as it is an official sleeve partner of the English professional football club, Newcastle United, and has widely been featured in mainstream media.
*What are the deposit options are available?
Traders can deposit using crypto wallets and major debit and credit cards when looking to go short with StormGain. All deposits are free but those made using bank cards attract a 5% fee.
*How do I withdraw from StormGain?
Withdrawals can be initiated whenever a user wants to. All withdrawals are made through major wallets and attract a fee of 0.1%.No news about StormGain available.