StormGain Review – Are They Safe or a Scam?
Our StormGain Review 2023
Listed on CoinMarketCap as the best interest rate crypto broker and awarded cryptocurrency trading and exchange platform of the year by The European, StormGain are a red-hot broker in 2021.
Formed in 2019, StormGain offers industry high leverage on a wide range of popular cryptocurrencies and boasts some genuinely unique crypto features such as mobile bitcoin mining. StormGain claims to be an “All-in-One Crypto platform” and our StormGain review by Crypto Parrot experts will let you know just what a range of features are available on this diverse trading platform.
StormGain is a cryptocurrency broker offering cryptocurrency derivatives secured by Tether (UDST) and boasts a range of unique cryptocurrency features such as bitcoin mining and wallet solutions.
Unlike many brokers and exchanges that fail to offer any bonuses – typically due to their particular regulatory restrictions – this broker actually offers several different bonuses. Firstly, StormGain offers a loyalty programme where traders can earn different levels of trading status to unlock unique benefits and rewards. There are 7 loyalty tiers and each have different benefits. For example, the StormGain VIP 3 status gains an annual interest rate of 12% and a mining speed of x530, compared to the StormGain Gold status which only receives an annual interest rate of 3% and a mining speed of x1.
StormGain knows the importance of referral marketing – the concept of people will promote something they love to all their friends. With that in mind, StormGain has a Refer-a-Friend bonus. Trades will be given a referral link to use at their own discretion – your friend will gain 3 UDST for registering using your link and you’ll receive 15% of funds withdrawn from Cryptominer by your referrals.
We found the platform during our StormGain review to be incredibly easy to follow and the look and feel of the trading platform is very modern. The dark colour scheme is certainly very professional and all the features are laid out very intuitively. To the left are all the latest prices within the cryptocurrency market. If you choose a particular instrument, it will appear directly in the middle of the trading platform – easily readable and accessible. To the right of the StormGain trading platform is the balance in your wallet – crucial to knowing how large or small a position you can take.
The main chart even features a “sentiment gauge” which is perfect for novice traders learning about active markets. During our StormGain review, we at Crypto Parrot found it very easy to open a trade. We simply clicked “Open a Trade” and we’re privy to setting up our required leverage and any stop loss or take profit orders.
Using the cloud mining function is the easiest thing in the world. All we needed to do was access our account and hit the giant green Active button. Our Crypto Parrot reviewer received their first bitcoin reward in 4 hours! We at Crypto Parrot learned that this program is hosted on a remote cloud server so it is in no way taxing on your precious mobile battery life.
|Headquarter||Hinds Building, Kingstown, St. Vincent and the Grenadines
,Company No. 312 LLC 2020|
|Year of Founding||–|
Islamic traders will be able to sign up to this broker. Our StormGain review revealed that this broker does offer an Islamic account that meets the standards and requirements of Sharia law. That means Islamic traders will receive no interest, no rollover commissions and no fees for holding positions for a long time period.
There is only one live trading account available at StormGain but it is the loyalty programme with 5-tiers that allows traders to reach different levels of account functionality. There is no trading volume requirement for the standard level tier, but those level requirements increase with each tier – for example, the VIP 3 level has a trading volume requirement of 75,000,000 USDT but the gold tier only requires 50,000 USDT.
StormGain offers traders a risk-free demo account that will cost them nothing to use. It’s totally free and traders will be given 50,000 USDT in virtual funds to practice, experiment, and get a feel for trading at StormGain. During our StormGain review we had no problem switching in between the live account and demo account – meaning you can conduct real live trades while practicing riskier ones for no gain or loss. All trading accounts can access up to 300x leverage which is substantially greater than most competitors in the market.
There have been a lot of reviews conducted by our experts at Crypto Parrot and many have built their own trading platform rather than leverage a third-party application such as MetaTrader. Like many of those operations, StormGain have developed their very own in-house trading platform too. Within the platform is every tool, product, and feature on offer at StormGain.
The StormGain trading platform offers a unique feature called “Trade Signals” which uses sophisticated Artificial Intelligence technology to provide traders with new trading opportunities through automated alerts.
For those who like to invest on the go, the StormGain trading platform is also available through a dedicated mobile app – available on both iOS, Android and new Huawei devices. The mobile app maintains the same look and functionality as the browser-based version. You can access your cold wallet storage, make deposits and withdrawals, use the demo account and exchange cryptocurrency with lightning-fast execution speeds. For those wondering; is StormGain reliable as a mobile app? The answer is a definitive yes!
StormGain is a 0% commission crypto broker which means you’ll only pay when you actually make some gains. Our StormGain review uncovered a unique business model where if a trader closes their trade with no profit, they will pay zero fees. However, if a profit is made, StormGain will simply take a 10% share of profitable trades. On the cryptocurrency exchange hover, our StormGain review found a commission between 0.095 – 0.25%.
You can fund your account at this crypto broker using bank cards, cryptocurrency, and SEPA payments for European account holders. Your account can be funded in more than 15 currencies including, USD, GBP, SEK, NOK, HUF, AUD and EUR. Our StormGain review showed that all deposit commissions were displayed in USD – All FIAT currencies carried a 5% deposit commission with minimum commission of 10 USD. The minimum deposit amount varied between the currencies with most currencies matching the USD minimum deposit amount of 50 USD. The maximum deposit differs a little more between the more exotic currencies but the USD, EUR, and GBP maximum deposit is 20,000 of their respective currencies.
You cannot withdraw to a bank card, instead you must either use a SEPA (EU) payment or withdraw to a crypto wallet. There are no deposit fees to fund your account using crypto currency and the minimum withdrawals are very low – for example there is no USDT limit and bitcoin has a minimum of 0.0014. There is a fixed withdrawal fee that differs between each cryptocurrency – our StormGain review did find the 35 USDT fixed fee to be quite high while the other options were quite low. Our StormGain review found withdrawals to be very fast – processed within 24 hours during the business days that we tested on.
The best way to access technical and customer support at StormGain is through the support hub. It is easily accessible for active traders and we were able to reach the support team through live chat. Our StormGain review only identified English and Russian language support including telegram, the phone line, and via email. Telegram users can follow the broker to be involved in conversations and receive up to date news. Traders can write to the StormGain telegram support bot for assistance too.
Emails can be made for non-users via the website’s contact us portal. It’s a simple webform – not dissimilar from any other broker – and no potential trader should have any problems providing an informative query to the brokers support team.
As such a relative newcomer in the crypto space, we at Crypto Parrot can understand that our StormGain review showed no regulatory licences held by this crypto broker. However, we did uncover during our StormGain review that this crypto broker is a member of the Blockchain Association which is a reputable and reliable regulator of operations that trade digital assets online. Our StormGain review dug up no deposit insurance of any kind, although that is to be expected from a new and unlicensed broker.
Another important way of determining if a broker is safe is to check their reputation and StormGain certainly has a great one. More than 100,000 active users and StormGain sponsored the Newcastle United Football Club during the 2019/20 English Premier League season. Further solid reputation can be found in the partnership between StormGain and Simplex – a crypto payment processing company with an EU-licence.
Currently, this broker does appear to be rather safe, but no licencing is a bit of a red flag – although they are quite new having only begun business in 2019. The reputation of this broker is currently very good and it would need to be monitored until StormGain seeks regulation.
Our StormGain review noted that this broker is very transparent about security and even provides security advice to its users. They openly warn of StormGain scams in the form of many phishing sites and advise how to protect against such mimic webpages. Two-Factor Authentication can be enabled on your StormGain account and the website and app are secured with high level SSL- encryption protocols.
One of the biggest draws of StormGain and one that is this broker’s most unique features is the Cloud Miner tool. This amazing tool allows StormGain crypto traders to mine cryptocurrency for free from their mobile device like a smartphone or tablet. That means you won’t need any advanced or expensive mining tools. It’s free to mine and traders can earn free daily bitcoins just for reaching designated trading volumes – increase your trading volume to increase your mining speed. Our reviewers at Crypto Parrot were able to reach the maximum of 0.0318 BTC a day!
Another distinct advantage we found during the Crypto Parrot StormGain review was the built-in crypto wallet feature. The StormGain crypto wallet is a multi-currency storage option that can be accessed 24/7 and leverages industry-leading technology. We found that it was free when you sign-up and provided a full range of crypto options such as transfers and HODL features. For those who are seriously security conscious, we at Crypto Parrot found that StormGain also offers a cold wallet storage option for USDT, XRP, LTC, ETH, BTC, DASH, ZEC, XLM, and BCH.
Marketing themselves as the All-In-One crypto trading platform, StormGain certainly lives up to the name. Offering more than just 20+ tradable cryptocurrencies, this broker also provides a means to mine bitcoin with energy efficiency and without extra hardware. Trading fees are very low when compared to its competitors and the broker operates a unique commission-free business model – you won’t pay any fees on losing trades, only profitable ones. As an exchange platform that allows users to own cryptocurrencies, StormGain also offers a hot and cold wallet storage option for securely holding your crypto assets.
Our CryptoParrot reviewers recommend StormGain for anyone looking to trade with leverage and gain free bitcoin on the side.