Stormgain Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

StormGain has garnered a positive reputation in the crypto trading community, earning a Traders Union overall score of 7.22 out of 10 and ranking 18th among 170 companies reviewed. This positions it fairly well in a competitive field. Its key strengths include a wide array of trading functionalities suitable for various levels of traders, with a focus on leveraged trading, crypto futures, and innovative offerings like crypto indices and tokenized precious metals. The platform also provides significant leverage up to 1:300, appealing to experienced traders with higher risk tolerances. The lack of trading commissions on unprofitable trades and a unique commission structure that charges fees only on profitable trades further enhance its attractiveness, particularly for cost-conscious traders.

However, StormGain does have notable drawbacks. The platform doesn’t support fiat currencies, limiting direct purchases to nine cryptocurrencies which might be a hindrance for traders looking for more variety or those wanting to use fiat directly. Additionally, the lack of advanced trading tools like automated trading bots and the absence of regulatory oversight might concern some users. The restricted number of futures and direct cryptocurrency purchase options compared to competitors like Coinbase or Binance could be seen as a limitation for those seeking extensive market options. Despite these concerns, StormGain’s all-in-one approach—combining trading, mining, and wallet services—makes it a compelling choice for users looking for a multifaceted crypto platform.

Pros

Cons

3,5

Threenvest Score

Fees

≤0,25%

U.S Legal

With the confidence of Threenvest

Security Measures: StormGain takes the security of its users seriously, implementing advanced measures like cold storage for the majority of funds, two-factor authentication (2FA), and encryption technologies to safeguard personal and transaction data.

High Leverage Options: Offering leverage up to 1:300, StormGain provides one of the highest leverage options available in the market. This allows experienced traders to maximize their trading strategies effectively.

Innovative Trading Features: StormGain features a range of innovative trading tools including leveraged crypto futures, options, and tokenized assets. This variety not only caters to different trading preferences but also enhances trading potential through diversification.

Reputation and Reviews: Since its inception in 2019, StormGain has built a solid reputation, ranked highly on several review platforms. Most reviews highlight customer satisfaction with the platform’s user-friendly interface and comprehensive trading tools.

Customer Service: StormGain offers robust customer support with a 24/7 service team accessible via email, chat, and phone. This level of support ensures that users’ queries and issues are resolved promptly, enhancing user trust and satisfaction.

Best Crypto Exchanges

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About Stormgain

Introduction: StormGain is a centralized cryptocurrency exchange established in July 2019 and based in the United Kingdom. It offers a comprehensive suite of services for cryptocurrency trading, including futures, options, and leveraged trades on a variety of digital assets.

What is StormGain?

StormGain operates as an all-in-one cryptocurrency platform that not only facilitates trading but also provides services like crypto mining, staking, and a built-in wallet. It’s designed to cater to both seasoned traders and beginners with a user-friendly interface and a strong focus on educational resources.

Background and History

Launched in 2019, StormGain has quickly positioned itself as a significant player in the crypto trading space. Despite its relative newness, it has attracted a large user base and offers trading capabilities in over 40 cryptocurrency pairs. It emphasizes leveraged trading, which allows users to trade with up to 200 times leverage.

Founders

The exchange was co-founded by Alex Althausen, who has a background in IT and finance, contributing significantly to StormGain’s focus on integrating advanced trading technologies and user-centric features.

Fun Facts

StormGain was awarded the title of “Cryptocurrency Trading and Exchange Platform of the Year” by The European.
It also includes a unique feature allowing users to engage in cloud mining directly from their mobile devices, providing a stream of cryptocurrency without the need for specialized hardware.

Interesting Features

The platform includes a demo account feature, allowing new users to practice trading without financial risk.
It supports high leverage trading on crypto futures, appealing to those looking to maximize potential gains.

Headlines

“StormGain introduces leveraged crypto trading up to 1:300.”
“StormGain offers a comprehensive educational suite to empower traders.”
“StormGain integrates cloud mining service, a first for crypto exchanges.”

StormGain’s integration of trading, education, and mining tools makes it an interesting platform for users looking to diversify their cryptocurrency trading strategies and income sources.

Why Choose Stormgain?

Choosing StormGain as your cryptocurrency exchange offers several compelling advantages, making it a worthy consideration for both new and experienced traders. Firstly, StormGain provides access to high leverage options up to 1:300, allowing traders to amplify their trading results, albeit with increased risk. This feature is particularly attractive for those who have a deep understanding of market movements and wish to capitalize aggressively on their forecasts.

Secondly, StormGain boasts a user-friendly platform that caters well to beginners. The inclusion of a demo account feature enables new users to practice trading strategies without financial risk, a great tool for learning the ropes before committing real money. Furthermore, the platform’s design focuses on simplicity and ease of navigation, ensuring that new traders can find their way around effectively without feeling overwhelmed.

Lastly, StormGain’s commitment to enhancing user knowledge and skills through a comprehensive suite of educational resources is noteworthy. From detailed guides on crypto trading to regular webinars and tutorials, these resources are invaluable for both beginners aiming to improve their trading knowledge and experienced traders looking to refine their strategies.

Where it falls short

Limited Cryptocurrency Selection: One of the primary areas for improvement is the expansion of its cryptocurrency offerings. Currently, StormGain supports direct purchases of only nine cryptocurrencies, which is relatively limited compared to industry leaders like Binance and Coinbase that offer hundreds of options. Expanding the selection of available cryptocurrencies would not only attract a broader user base but also provide current users with more trading opportunities and diversification possibilities. Enhancing this aspect would involve listing more altcoins and potentially integrating new and trending tokens that capture market interest.

Regulatory Compliance and Trust: Another significant area for improvement is gaining regulatory approval in more jurisdictions. As an unregulated exchange, StormGain faces trust barriers from potential users who prioritize legal compliance and security guaranteed under regulatory frameworks. By pursuing licenses in key markets, StormGain could enhance its credibility and attract users who are currently hesitant to trade on unregulated platforms. This would not only improve its reputation but also ensure that it adheres to international standards of financial operations, potentially decreasing risks associated with trading and investments on the platform.

Features	Explanation
Minimum Trade	StormGain allows for relatively low minimum trade amounts, making it accessible for beginners or those looking to trade small amounts.
Trading and Transaction Fees	StormGain charges a 0.25% flat fee on all trades and additional fees on profitable trades, which can be somewhat higher than some competitors.
Number of Cryptocurrencies	Offers a limited selection of cryptocurrencies compared to larger exchanges, which might be a downside for users looking for diverse trading options.
Crypto-to-Crypto Trading Pairs	Although limited in overall cryptocurrency numbers, it provides essential trading pairs, suitable for most conventional traders but not ideal for those seeking depth.
Website Transparency	The website is quite transparent about fees and trading options, though it could improve by providing more information about the team and their operational ethos.
Credit/Debit Card	StormGain currently lacks an exchange card, missing an opportunity to extend additional payment convenience and benefits to its users.
Storage Offering	Provides a secure wallet for cryptocurrency storage, incorporating essential security features such as 2FA.
Staking and Rewards	Offers competitive staking options and rewards, adding value for users who hold their cryptocurrencies in the exchange’s wallet.
Mobile App and Desktop	The mobile and desktop platforms are well-designed, intuitive, and user-friendly, suitable for both beginners and experienced traders.
Customer Service	Provides 24/7 customer support, but feedback on the responsiveness and quality of support varies among users.
Deposit and Withdraw	Offers instant deposit and withdrawal options, but the fees, especially for withdrawals, can be high depending on the method and currency.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As one of the experts reviewing cryptocurrency platforms for our website, I find StormGain to be an intriguing option for traders who are particularly interested in leveraging high-risk, high-reward strategies. Its ability to offer up to 1:300 leverage is a standout feature that attracts experienced traders looking for significant market exposure. Additionally, the platform’s user-friendly interface and educational resources make it accessible, even for newcomers to the crypto trading scene. However, it’s important to approach trading on StormGain with a clear strategy and an understanding of the risks associated with high leverage trading.

Fees

StormGain charges a unique fee structure that differentiates it from many other cryptocurrency exchanges. The platform adopts a flat fee model for trading, charging a standard rate of 0.25% on all trades. This rate is slightly above the new industry average, which tends to range around 0.10% to 0.15%, but StormGain offers a compelling twist: it only imposes these fees on profitable trades. This means if your trade does not make a profit, you are not charged a trading fee. In addition to trading fees, StormGain also applies withdrawal fees, which vary by cryptocurrency. For instance, withdrawing Bitcoin incurs a fixed fee of 0.0006 BTC, combined with a percentage fee of 0.10% of the withdrawn amount. This hybrid fee model can be particularly advantageous or costly depending on the amount being withdrawn and the current value of the cryptocurrency. Overall, StormGain’s fee model is designed to benefit profitable traders by allowing them to incur costs only when they earn, which can be particularly attractive to high-volume traders who are confident in their trading strategies and market timing.

Pros

No Fees on Unprofitable Trades: StormGain's unique fee structure where no trading fees are charged on unprofitable trades can significantly reduce the cost of trading for users who are still learning or are experiencing a run of bad luck.
Competitive Withdrawal Fees: The withdrawal fees are reasonably competitive, with a fixed fee plus a small percentage fee, making it financially manageable for traders to move their assets off the platform.
Fee Transparency: StormGain provides clear transparency in its fee structure, which is straightforward and detailed on their website, helping users to understand exactly what they will be charged for each transaction.

Cons

High Fees on Profitable Trades: While it is advantageous to have no fees on unprofitable trades, the flip side is that StormGain charges a 10% fee on profits made from trades, which can be significantly higher than fees charged by many other platforms.
Limited by Lack of Fiat Options: The commission rates may be impacted by the limited options for direct fiat currency transactions, potentially complicating the funding and withdrawal process and leading to higher indirect costs for converting from fiat to crypto elsewhere before depositing to StormGain.

Trading Commissions

StormGain utilizes a flat trading fee model of 0.25% for all trades. This rate is slightly above the emerging industry average of 0.10%-0.15%, but what sets StormGain apart is its innovative approach to charging these fees: trading commissions are only applied to profitable trades. This means that if a trade does not result in a profit, the trader does not incur any trading fees. This model can significantly reduce the risk and cost for traders, especially those who are still testing their strategies or are less consistent in their trading outcomes.

Profit Commission

When a trade is profitable, StormGain charges a commission of 10% on the profits. This is quite high compared to many other platforms, which typically charge a fixed trading fee regardless of the outcome of the trade. For successful traders, this could mean a considerable amount of their earnings are taken as commission. However, this also means that traders’ interests are aligned with the platform’s, as the platform only profits when the traders do.

Hidden Fees

While the headline trading fee numbers are attractive, traders should be aware of other potential costs involved:

Withdrawal Fees: StormGain charges a hybrid fee for withdrawals, including a fixed fee and a percentage of the amount withdrawn. For Bitcoin, this is 0.0006 BTC plus 0.10% of the total withdrawn amount. These fees can add up, especially for larger withdrawals.
Deposit Fees: For fiat deposits, although StormGain promotes low entry barriers, there might be fees associated with currency conversion and transfer, depending on the method used (credit cards, bank transfers, etc.).

Comparative Analysis

When compared to other major cryptocurrency exchanges like Binance or Coinbase, StormGain’s fee structure is innovative but potentially more expensive for highly profitable traders. Most other exchanges charge a lower percentage fee on all trades, profitable or not, and do not take a percentage of the profits. This makes StormGain’s model particularly attractive for traders who might be experiencing a mix of profitable and non-profitable trades, as they can save on fees during less successful periods.

Strategic Considerations

For traders considering using StormGain, it is crucial to analyze their past trading performance. Those who have a high percentage of profitable trades may find the 10% profit commission steep. Conversely, for those still refining their strategies, not having to pay fees on unprofitable trades could be financially beneficial.

Conclusion

StormGain’s fee structure offers a unique proposition in the cryptocurrency exchange market, which can be highly advantageous under certain trading patterns. Traders should carefully consider their own trading history and risk tolerance when evaluating whether StormGain’s fee model is the best fit for their trading style. This analysis shows that while the platform can potentially increase net earnings by reducing fees during losing streaks, it also claims a significant share of profits, which might deter high-volume, consistently profitable traders.

Product selection

StormGain distinguishes itself by offering a robust trading platform that includes leveraged crypto futures, options, and a unique lineup of tokenized assets, catering to traders looking for diverse financial instruments. Alongside its trading services, StormGain provides an integrated mining tool and a crypto wallet, enhancing user engagement through additional earning potentials such as staking. This all-in-one approach positions StormGain as a versatile option for users ranging from novice to experienced traders, emphasizing both trading flexibility and opportunities for passive income generation.

Pros

Integrated Mining Tool: One of StormGain’s standout features is its integrated mining tool, which allows users to mine cryptocurrency directly through the platform. This feature is particularly appealing for users who want to generate crypto without investing in expensive mining hardware.
All-in-One Platform: StormGain offers a comprehensive suite of services, including trading, a wallet, and mining. This convenience of having multiple functionalities in one platform simplifies the user experience and makes it easier for new traders to engage with the cryptocurrency market.
Diverse Financial Instruments: The platform provides a wide range of trading options, including futures, options, and tokenized assets like gold and silver. This diversity allows traders to explore various investment strategies within the same interface, appealing to those interested in both crypto and traditional asset classes.

Cons

Complexity for Beginners: While the diversity of products and services is a strength, it can also be overwhelming for beginners. The array of choices and features might complicate the learning curve for those new to cryptocurrency trading.
Lack of Regulatory Oversight: As an unregulated platform, StormGain may pose a higher risk for users concerned about the security and legality of their investments. The absence of regulatory oversight can be a deterrent for those who prioritize legal compliance and the security guarantees that come with regulated exchanges.

Read more about product selection in Stormgain

StormGain offers a comprehensive range of services and products designed to meet the needs of various cryptocurrency enthusiasts, from casual traders to serious investors. Here’s an extensive overview of what StormGain provides:

Trading Platform

StormGain includes a proprietary trading platform, which supports the trading of various cryptocurrencies through futures, spot markets, and leveraged positions up to 200x. The platform is designed to be user-friendly yet powerful enough for professional traders, featuring integrated trading signals, advanced charting tools, and risk management features.

Crypto Mining Tool

One of the most distinctive features of StormGain is its crypto mining tool. This service allows users to participate in cryptocurrency mining directly through their devices without the need for expensive hardware. The mining tool is integrated into the StormGain platform, enabling users to mine and trade within the same ecosystem.

Wallet Services

StormGain provides an all-in-one wallet solution that supports multiple cryptocurrencies. Users can store, manage, and exchange their digital assets directly within the platform. The wallet is designed with enhanced security measures to ensure the safety of assets.

Staking and Rewards

StormGain offers staking services, allowing users to earn rewards by holding certain cryptocurrencies. This feature enables users to generate passive income from their investments, adding an extra layer of utility to their crypto holdings.

Leveraged Tokens and Derivatives

The platform provides access to leveraged tokens and various derivative products, enabling traders to speculate on price movements without owning the actual assets. These financial instruments are useful for experienced traders looking for high-risk, high-reward investment opportunities.

Educational Resources

StormGain is committed to educating its users, offering a range of resources designed to help both beginners and experienced traders. These include video tutorials, articles, and webinars covering various aspects of cryptocurrency trading and market analysis.

Tokenized Assets

In addition to traditional cryptocurrency products, StormGain allows trading on ‘tokenized’ versions of commodities, such as gold and silver. These tokenized assets follow the market performance of physical commodities, providing crypto investors with exposure to traditional markets.

API Access

For developers and professional traders, StormGain offers API access, enabling the automation of trading strategies and integration with custom software solutions. This feature is particularly useful for those looking to build sophisticated trading algorithms.

Mobile App

Recognizing the need for accessibility, StormGain provides a fully-featured mobile app that allows users to trade, manage their wallets, and use the mining tool on the go. The app is available for both Android and iOS devices, ensuring that users can stay connected to the market anywhere and anytime.

Customer Support

StormGain offers 24/7 customer support through various channels, including live chat, email, and phone, ensuring that users can get help whenever they need it.

Conclusion

StormGain’s extensive range of services and products makes it a versatile platform suitable for a wide audience, from those new to cryptocurrency to seasoned traders. By combining innovative features like crypto mining with robust trading tools and educational resources, StormGain aims to provide a comprehensive and enriching trading experience.

Account opening

To begin trading with StormGain, prospective users must complete a simple registration process that involves entering basic personal information such as an email address and creating a password. The platform may require additional verification depending on the user’s location and the account features they wish to access, but for basic trading functionalities, this initial setup often suffices. Once registered, users can deposit cryptocurrencies directly into their StormGain wallets or purchase digital assets using credit cards, setting the stage for trading across a variety of cryptocurrency pairs and other financial instruments available on the platform. This user-friendly onboarding process, combined with StormGain’s robust security measures and a diverse range of trading tools, makes it an appealing choice for entering the crypto market.

Pros

Simple and Fast Registration: StormGain's account opening process is notably quick and straightforward. Users can set up an account within a few minutes, requiring only an email address and a password to get started, which is ideal for new users eager to dive into trading without lengthy delays.
No Mandatory KYC for Basic Trading: For users looking to engage in basic trading activities, StormGain does not require a rigorous Know Your Customer (KYC) verification initially. This feature allows users to maintain a degree of anonymity and start trading without the need for detailed personal documentation.
Immediate Access to Trading: Once the account is set up, users can immediately deposit cryptocurrencies or use credit cards to purchase digital assets. This quick access to the trading platform enables users to take advantage of market conditions without significant setup time.

Cons

Limited Payment Methods Initially: While StormGain allows cryptocurrency deposits and credit card purchases, the initial options for funding the account may be limited compared to other platforms that offer a wider range of fiat deposit methods. This could be a hindrance for users who prefer other payment methods like bank transfers or e-wallets.
Potential Need for Later KYC: For higher-level trading activities or withdrawals, StormGain may require users to complete KYC verification. This could introduce delays and additional steps for users who wish to access more advanced features or higher transaction limits, potentially disrupting the trading experience for those who did not anticipate this requirement.

Read more about account opening in Stormgain

StormGain offers a streamlined process for setting up an account and engaging with its cryptocurrency trading platform. Here is a detailed breakdown of the steps involved in signing up, opening an account, buying your first cryptocurrency, and understanding the account types, including a section on how to use StormGain effectively:

How to Sign Up on StormGain

Visit the Official Website: Navigate to StormGain’s website and click on the ‘Sign Up’ button.
Enter Your Details: Provide your email address and create a password. StormGain may also require a phone number for account verification purposes.
Email Verification: After submitting your details, check your email for a verification link. Click this link to activate your account.

Opening an Account

Once your email is verified, you can log in to your account. You will have the option to explore different account types depending on your investment size and trading needs, such as standard, silver, gold, or platinum accounts. Each level may offer different benefits like lower commissions, access to exclusive trading signals, or a personal account manager.

How to Buy Your First Cryptocurrency

Fund Your Account: Deposit funds using either cryptocurrencies or fiat via credit card (note: direct bank transfers may not be available).
Select Cryptocurrency: Navigate to the trading section, choose the cryptocurrency you wish to purchase, and select the amount.
Execute Purchase: Confirm the details and complete your purchase. Your new cryptocurrency balance should now reflect in your StormGain wallet.

Account Types

StormGain offers several account types tailored to different user needs:

Standard Account: Ideal for beginners with basic features.
Gold Account: Requires a higher minimum balance but offers reduced commission rates and additional support.
Platinum Account: For serious traders, offering the best rates, personalized support, and exclusive updates.

How to Use StormGain

Trading: Use the intuitive trading interface to place trades. Beginners can start with simple buy and sell orders, while advanced traders can use futures and leveraged trades.
Education: Utilize the educational resources provided, including tutorials and webinars to learn more about cryptocurrency trading strategies.
Mining and Staking: Participate in mining or staking directly through the platform to earn rewards or increase your digital assets.

Registration and KYC

Initially, KYC may not be required, but for higher transaction volumes or withdrawals, completing the KYC process will be necessary. This involves submitting identification documents and possibly proof of address to comply with regulatory requirements. This comprehensive setup and use guide should equip new users with all they need to start trading effectively on StormGain, ensuring they can navigate the platform’s features and comply with any necessary regulations.

Security

StormGain utilizes a multi-layered security approach to safeguard its platform and users’ digital assets. The exchange employs advanced encryption technology to protect users’ personal information and transaction details from unauthorized access. Additionally, a majority of the funds are stored in cold wallets, which are offline storage systems that provide an extra layer of security against potential hacks and cyber threats. StormGain also supports two-factor authentication (2FA), adding a necessary second verification step to prevent unauthorized account access. While the platform is not regulated, these security measures align with industry best practices, ensuring that users can trade with confidence knowing their investments are well-protected.

Pros

Advanced Encryption Technology: StormGain uses state-of-the-art encryption to protect user data and communications on the platform. This helps prevent unauthorized access and ensures that sensitive information remains confidential, providing a secure trading environment.
Cold Storage of Funds: A large percentage of user funds are stored in cold wallets. This means that the assets are kept offline and away from potential online threats such as hackers, which significantly enhances the security of user investments.
Two-Factor Authentication (2FA): StormGain supports 2FA, which adds an extra layer of security at login. This feature requires users to provide two forms of identification before accessing their accounts, which helps prevent unauthorized access even if a password is compromised.

Cons

Lack of Regulatory Oversight: Despite its robust security features, StormGain operates without formal regulation from a financial authority. This lack of oversight might concern users who prioritize trading on platforms that comply with specific regulatory standards, potentially affecting the perceived trustworthiness and stability of the exchange.
Limited Security Features for Advanced Users: While StormGain offers basic security measures like encryption and 2FA, it may lack more advanced security features that are becoming standard on other platforms, such as IP address whitelisting, wallet address whitelisting, and more comprehensive account monitoring for unusual activities. These additional layers can further protect users against sophisticated types of fraud and security breaches.

Is StormGain Legit?

StormGain is a relatively new player in the cryptocurrency exchange market, having launched in 2019. It has quickly established a user base and a reputation for providing a range of trading services including leverage, futures, and spot trading. Despite its growth and popularity, potential users should be aware that StormGain operates without formal regulation from recognized financial authorities, which can be a concern for those prioritizing regulated environments.

Regulation and Licensing

Currently, StormGain does not hold any licenses from top-tier financial regulators such as the SEC (U.S. Securities and Exchange Commission), FCA (Financial Conduct Authority), or other similar bodies. This unregulated status means that while the platform can offer some benefits like high leverage and a broader range of trading instruments, it also poses higher risks compared to regulated counterparts.

Is StormGain Safe?

StormGain employs several security measures to safeguard users’ assets and personal information:

Cold Wallets: A large portion of customer funds is stored in cold wallets, which are offline storage devices that offer protection against online hacks and cyber threats.
Advanced Encryption: The platform uses high-level encryption technologies to secure user data, ensuring that sensitive information is protected from unauthorized access.
Two-Factor Authentication (2FA): StormGain supports 2FA, enhancing security by requiring a second form of verification when logging in or performing transactions.

Security Methods

Apart from standard security practices, StormGain could enhance its security framework by implementing additional measures such as:

Multi-Signature Wallets: For added security, implementing multi-signature requirements on transactions can prevent unauthorized access even if one key is compromised.
Regular Security Audits: Conducting regular security audits by independent third-party companies can help identify and mitigate potential vulnerabilities.

Security History

While StormGain has not reported any major security breaches since its inception, the lack of regulatory oversight and the platform’s relatively short operation period require users to exercise caution. Continuous monitoring and updating of security measures are crucial for maintaining trust and safeguarding user assets.

Final Conclusion

In conclusion, StormGain offers robust trading tools and security features that make it an appealing choice for cryptocurrency traders. However, the absence of regulatory oversight may raise concerns for some users. As the cryptocurrency landscape continues to evolve, it is essential for users to stay informed and cautious, weighing the benefits of advanced trading features against the potential risks associated with an unregulated platform.

Customer service

StormGain offers comprehensive customer support through multiple channels including email, mobile, Telegram, and live chat, ensuring users can receive assistance 24/7. The platform is known for its responsiveness and ability to handle customer inquiries effectively, whether they’re related to account issues, trading inquiries, or technical support. Additionally, StormGain maintains a high level of customer satisfaction, with many users praising the platform for its user-friendly interface and the quality of support received. However, as with any service, there are occasional reports of delays or less satisfactory resolutions, which StormGain continuously works to minimize through ongoing training and support optimization.

Pros

Multiple Support Channels: StormGain offers a variety of communication channels for customer support, including email, live chat, mobile, and Telegram. This diversity ensures that users have multiple ways to reach out for help, making it convenient to find assistance regardless of their preferred method of communication.
24/7 Availability: The customer support service at StormGain is available around the clock, providing users with constant access to help whenever they need it. This is particularly beneficial for traders who operate in different time zones or who trade outside of regular business hours.
Responsive Support: Many users report that StormGain’s customer support is responsive and helpful. Quick response times and effective resolution of issues contribute significantly to a positive user experience and enhance the platform's reputation among traders.

Cons

Inconsistency in Service Quality: While many reports highlight the efficiency of StormGain’s customer service, there are occasional mentions of inconsistent service quality, with some users experiencing delays or less satisfactory resolutions to their issues. This inconsistency can be a point of frustration for users expecting a uniformly high level of service.
Potential Language Barriers: Although StormGain offers support in multiple languages, there are occasional reports of language barriers, which can complicate communication and lead to misunderstandings or unresolved issues. Enhancing the linguistic capabilities of the customer support team could help mitigate this issue and improve service for non-English speaking users.

Read more about customer service in Stormgain

StormGain provides comprehensive customer support designed to address a wide range of issues that users may encounter. Here’s an extensive breakdown of the customer service section of StormGain:

Customer Support Overview

StormGain offers several ways for users to access customer support, ensuring that they can receive assistance efficiently and effectively. Support Channels:

Live Chat: Available directly on the platform, offering immediate responses for urgent inquiries.
Email Support: Useful for more detailed queries that may require thorough explanations or sending attachments.
Mobile: Offers support through the app, facilitating on-the-go inquiries and issues resolution.
Telegram: A more informal way for users to get quick answers and interact with support staff.

Reputation and Customer Feedback

StormGain has generally received positive feedback from its users for customer support. The platform is praised for its responsiveness and the professional manner in which support staff handle inquiries. However, like any service, there are instances of criticism, typically surrounding response times during peak periods or complex issue resolution. Common Themes in User Feedback:

Appreciation for 24/7 availability.
Satisfaction with the multilingual support, which accommodates a global user base.
Occasional frustration with delayed responses during high-demand times.

Methods of Contact

StormGain emphasizes accessibility and convenience in its customer service approach:

Direct Calls: For urgent or complex issues that require immediate attention.
Social Media Platforms: Engaging with users through channels like Twitter and Facebook, providing updates and responding to queries.
Online Help Center: A comprehensive resource with FAQs, guides, and articles that help users self-resolve common issues or better understand the platform’s features.

Response Time

StormGain aims to respond to live chats and emails within a few hours, but during high traffic periods, response times can extend, which is a noted area for improvement.

What Users Can Expect

Users contacting StormGain’s customer support can expect:

Professional and courteous interactions.
Efforts to resolve issues as quickly as possible.
Follow-ups if initial solutions do not fully resolve the problem.

Additional Considerations

Educational Resources: StormGain provides a range of tutorials and guides that help reduce the need for customer support by empowering users to troubleshoot common issues themselves.
Community Forums: Users can also seek help from the community forums, where they can share experiences and solutions.

StormGain’s customer support structure is designed to be robust and user-friendly, with multiple touchpoints across various platforms to ensure that users receive the assistance they need promptly and effectively.

Is stormgain Right for You?

Consider Your Experience with Leverage and Risk Tolerance: StormGain offers high leverage options up to 1:300, which can significantly amplify both potential profits and losses. If you are experienced in managing risk and confident in your trading strategies, StormGain’s high leverage offerings might be a great fit. However, if you are new to trading or prefer to take a more conservative approach, the high leverage could pose a significant risk.
Evaluate Your Need for a Regulated Platform: StormGain operates without formal regulation from recognized financial authorities. This might be suitable for traders who prefer fewer restrictions and potentially higher leverage limits. However, if you prioritize security and the peace of mind that comes with regulatory oversight, you might want to consider other platforms that are regulated by financial authorities.
Assess Your Preference for Trading Tools and Cryptocurrency Selection: StormGain provides a variety of trading tools, including futures, options, and tokenized assets, alongside a proprietary trading platform equipped with trading signals and technical analysis tools. This makes it ideal for traders who seek a comprehensive and tech-driven trading experience. However, StormGain offers a relatively limited selection of cryptocurrencies directly purchasable on the platform. If you’re looking to trade a wide range of cryptocurrencies or need specific altcoins, you might find the offerings on StormGain limiting.

In summary, StormGain could be a great choice if you’re looking for high leverage, advanced trading tools, and are comfortable with an unregulated platform. However, it might not be suitable if you need a wide variety of cryptocurrencies or prefer the security of a regulated exchange.

Stormgain compared to other crypto exchanges

Threenvest score

3,5

Fees

≤0,25%

US Legal

Security

High 4,5/5

On the exhange website

Threenvest score

4,8

Fees

0,10%/1,49%

US Legal

Security

High 4,9/5

Gemini

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

StormGain offers trading in a variety of popular cryptocurrencies, making it a viable option for those looking to trade major digital assets. Available Cryptocurrencies on StormGain include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), and Ripple (XRP). These selections cover some of the most commonly traded and sought-after cryptocurrencies, catering to the needs of mainstream and serious traders alike.
However, it’s important to note that StormGain does not offer certain other popular cryptocurrencies, such as Cardano (ADA) and Polkadot (DOT). If you are looking to diversify into newer or less mainstream altcoins, StormGain might not meet your trading needs.
In terms of geographical availability, StormGain serves a wide range of countries across the globe, including Australia, Canada, the United Kingdom, South Africa, Singapore, and various countries throughout Europe and Asia. This wide accessibility makes it an attractive option for international traders.

Nevertheless, there are significant exclusions. Residents of the United States, Japan, and a few other countries such as Bosnia and Herzegovina, Afghanistan, and Iraq cannot open accounts with StormGain. This restriction is due to regulatory considerations and the legal landscape in those countries regarding cryptocurrency trading. If you are based in one of these countries, you will need to consider other platforms that comply with your local regulations and offer services in your region.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Litecoin (LTC)
Ripple (XRP)

Main countries where you can open an account

Australia
Canada
United Kingdom
South Africa
Singapore
Germany
Norway
France
Sweden
Denmark
Luxembourg
Italy
Saudi Arabia
United Arab Emirates
Kuwait
Qatar

FAQs

What cryptocurrencies can I trade on StormGain?

You can trade major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), and Ripple (XRP), among approximately 40 others available on the platform.

Is StormGain available in my country?

StormGain serves numerous countries globally, including Australia, Canada, the UK, and most European nations. However, it does not operate in the United States, Japan, or countries like Afghanistan and Iran due to regulatory restrictions.

How does StormGain ensure the security of my investments?

StormGain utilizes a combination of cold storage for the majority of user funds, advanced encryption technology, and two-factor authentication (2FA) to secure user accounts and data.

Can I use fiat currency to purchase cryptocurrencies on StormGain?

Yes, you can use fiat currencies to buy cryptocurrencies through credit card transactions. However, direct bank transfers or other fiat deposit methods are not currently supported.

What are the fees for trading on StormGain?

StormGain charges a flat trading fee of 0.25% on profitable trades only. There are no fees for unprofitable trades, but withdrawal fees and credit card purchase fees apply.

Does StormGain offer any tools for beginners?

Yes, StormGain provides a demo account where beginners can practice trading without financial risk. Additionally, the platform offers a variety of educational resources and trading signals to help new traders get started.

How can I withdraw my earnings from StormGain?

You can withdraw your earnings by transferring your cryptocurrency from your StormGain wallet to an external wallet. The platform details the fixed and percentage-based fees applicable for each cryptocurrency withdrawal.

Final opinion on Stormgain

At Threenvest, we’ve closely examined StormGain to provide a comprehensive and unbiased review of its services and features. StormGain stands out for its high leverage options, offering up to 1:300, which is considerably higher than many other platforms. This makes it an attractive choice for experienced traders who seek significant market exposure and understand the risks involved with high leverage trading. Additionally, StormGain’s user-friendly interface, combined with a variety of trading tools including futures, options, and tokenized assets, caters well to traders looking for a diverse trading experience. The platform’s commitment to security through the use of cold storage, advanced encryption, and two-factor authentication also ensures that user assets are well-protected, fostering a secure trading environment.

However, it’s important to note that StormGain does have its limitations. The lack of regulatory oversight may be a concern for those who prioritize trading on platforms that adhere to specific legal standards. Moreover, the limited selection of cryptocurrencies, particularly the absence of some popular altcoins, might deter traders who seek a broader array of trading options. Compared to industry giants like Binance or Coinbase, which offer extensive crypto selections and are backed by regulatory compliance, StormGain falls short in these areas. Despite these drawbacks, for Threenvest users who are comfortable with the inherent risks and are looking for powerful leverage options and a robust trading platform, StormGain presents a compelling choice that balances advanced trading capabilities with ease of use.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.