StormGain is a leveraged cryptocurrency exchange and trading broker with a built-in multi-currency wallet. It was founded in 2019 and is registered in Saint Vincent and the Grenadines. The company is not yet regulated but has gained some serious momentum since its inception and now serves over 120,000 clients in over 100 countries. It is well known as the sponsor of Newcastle United Football Club (NUFC) in the 2019-2020 season.
The desktop platform for margin trading and investing offers a user-friendly and customizable dashboard that allows clients to view the rise and fall of assets. With 9 timeframes to choose from, traders can use a variety of charting tools to track trends and price movements in full-screen mode. The platform also offers over 40 technical indicators. The terminal is available in more than 10 languages, and the built-in chat and video tutorials are especially useful for beginners.
The platform is accessible directly from the website for those who wish to view the features, and the registration form is quick and easy to complete.
Users can trade over 20 cryptocurrency futures contracts. Users can also buy and store coins in the built-in crypto wallet in six popular currencies: Bitcoin, Bitcoin Cash, Tether, Litecoin, Ethereum, and Ripple.
Unusually, all transactions are denominated in a highly liquid but relatively stable cryptocurrency, Tether (USDT). This helps reduce exchange rate risks when using other base currencies such as bitcoin.
For cryptocurrency trading, the firm charges commissions instead of spreads. On average, fees for most USDT and BTC pairs range from 0.19% to 0.20%. The commission for exchange services ranges from 0.095% to 0.25%.
The firm allows you to trade cryptocurrencies with a multiplier of up to x200, which is higher than most competitors. While it seems attractive, beginners should be aware that high leverage can result in just as many losses as winnings. However, if you want to trade big with minimal capital, then this broker is a good option.
The all-in-one app has everything you need to exchange, store, and trade cryptocurrencies. Traders have 24/7 access to trading signals, push notifications, charts, and technical analysis tools. Mobile crypto mining is also available on the app, which we will cover later in this review. Users can download the mobile app for iOS and Android smart devices (APK) from the App Store or Google Play.
You can buy cryptocurrencies directly on the platform with a credit or debit card. The minimum deposit (Fiat or cryptocurrency) is $50 and the deposit fee is 5% with a minimum amount of $10.
You can withdraw funds by transferring them to a wallet. The minimum withdrawal amount is 50 USDT (or the equivalent in another cryptocurrency). The withdrawal fee is 0.1%.
Processing of all transactions usually takes up to 30 minutes. A simple guide is available on the website on how to deposit and withdraw funds through the platform.
There is a demo account with $50,000 in virtual funds to practice trading. A risk-free demo account is a great tool for beginners who want to try their hands before switching to a real account. It can be active for as long as needed, and users can easily switch between demo and real accounts on the dashboard.
Users are offered a deposit bonus per account in the form of a loyalty program, starting at 5% for Gold members and up to 20% for VIP 3 members. Bonus funds can be used for trading but cannot be withdrawn. You can also earn up to 12% interest on deposits, starting at 3% for Gold members and increasing to 12% for VIP 3 members. Previously, the company offered a promo code for a $25 no-deposit bonus as well as contest coins.
A unique feature of the platform is the new Cloud Miner tool, which allows users to mine their cryptocurrency from their phones without the need for any additional hardware. Because the tool is hosted on remote cloud servers, Cloud Miner is fast and won’t drain your battery.
The tool is completely free after registering an account. Just open the tool and start mining every 4 hours until you get your first 10 USD in cryptocurrency to trade.
Other helpful resources are available, including a news forum section with articles and tips, as well as tutorial videos and courses for beginners. However, more reputable exchanges, such as Binance, may provide a more complete selection.
The five-level loyalty program is divided into Standard, Gold, Platinum, Diamond, VIP, VIP 2, and VIP 3. Each status is determined by the volume of transactions or exchanges. There is no volume requirement for the standard tier, but for VIP tier 3, you will need $75,000,000.
As previously stated, users can earn deposit bonuses based on these levels, earning up to 12% per year as they progress.Users can also benefit from up to a 40% trading fee discount and lower exchange fees at higher levels.
Setting up an account is simple and fast. Unlike most other brokers, StormGain does not require a time-consuming KYC procedure to register new users.