StormGain is a widely popular crypto exchange service that has been operational since 2019. The business is legally incorporated in SVG and operates under the jurisdictional license.
All that would be fine if this regulation was valuable and solid. Let’s revise the potential issues arising from involvement with offshore deal proposers in this StormGain review.
| Regulated by: | SVGFSA |
| Is This Company Safe? | Although regulated, this firm relies on offshore regulations – be careful! |
| Known Websites: | |
| Have Warnings from: | N/A |
| Registered in: | SVG |
| Operating since: | 2019-04-05 |
| Trading Platforms: | Web and proprietary mobile app |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $50 |
| Deposit Bonus: | Not available |
| Trading Assets: | Crypto |
| Free Demo Account: | Available |
| How to Withdraw from This Company? | If standard withdrawals do not work, please consider contact us for chargeback. |
SVGFSA Crypto License
STORMGAIN LLC, based in SVG is regulated by the jurisdictional financial authority – SVGFSA. This offshore zone is known as a tax haven due to the number of unregulated brokers starting their business there. However, the crypto market is somewhat regulated.
One gray zone license cannot compare to that issued by a leading financial regulator like FCA, CFTC, BaFin, FINMA and CNMV.
That’s where the problem with offshore service providers lies. Insufficient transparency, low fund protection and absence or risk-reducing measures are just some of the potential issues.
RealFXPro is another offshore entity you should tread carefully around.
Focus On Asian Areas StormGain
The StormGain website clarifies that they do not provide services to EEA citizens. With that in mind, it is evident why the majority of their clients come from these countries:
- Indonesia
- India
- Brazil
- Pakistan
- Turkey
The platform owners have done a good job with a relatively young firm. For the last three years, how long the domain has been operational, they’ve built a huge user base that they regularly communicate with through social networks.
Present on Telegram, Twitter, Facebook, Discord, and Instagram, the firm boasts thousands of followers and diligently promotes their services.
Highest User Ratings
The company is present on Trustpilot with over 36 thousand ratings and most of them being the highest graded. Majority of users report that they’re pleased with the wide range of services, diligence of customer support and correct sums and amounts presented.
Negative ratings relate to user dissatisfaction caused by problems with mining accounts that appear to sometimes be forcefully closed for an unexplained reason.
Affordable Services on StormGain
The trading fees that appear in the form of the Taker and Maker fees sit at 0.40%. Combined with a leverage of up to 1:500, you could consider such a trading environment potentially risky if you’re not well trained in managing your risks.
Other fees that occur are those relating to withdrawals. For example, there’s a fixed withdrawal fee that depends on the currency + additional fixed fee of 0.1%. There’s also a deposit commission of 5%, with the minimum commission being $10.
Loyalty And Referral Programme
By gaining volume on your trading account, you could earn different classes of bonuses. Levels of advancement are many and they climb up to VIP2 which guarantees 20% staking APY, 0.06% exchange commission and ×530 mining speed.
Referrals bring a fixed commission for each qualified trader that joined through your link. This bonus goes up to $1200.
Rich Offer Of Features And Tools
The multi-service platform offers a wide variety of crypto services. From a comprehensive platform to buy, exchange and trade leverage crypto products to a number of crypto assets to choose from. Although there’s no customized account types, there’s still the standard live trading account and Demo version as well.
Web Based Platform StormGain
Some investors may argue that the StormGain platform should be available as a desktop software and they have all the right to.
The web terminal currently available on the site is very user-friendly, comprehensive and rich in features. From the observed performance, it is quite responsive, fast and reliable.
Bitcoin Wallet App
The availability of the proprietary mobile app was just recently published as the newest addition to the platform’s array of services.
However, the link to the Apple store isn’t functional. On the other hand, the Google store link works just fine and you can download the terminal for free.
Crypto Currencies Offered
Exchanging crypto currencies is available between the digital coins and also against the USDT. Some of the most commonly traded currencies are BTC, ETH, LTC, ADA, DOT, DOGE, XRP and several dozen other currencies. From more to less popular ones, you can choose to trade and exchange them against each other.
Live And Demo Account
The two main StormGain accounts are just the live and demo account. Due to regional restrictions, the StormGain login isn’t easily created.
Upon registration, you can choose if you wish to activate the risk-free trading account with virtual margin of up to $50,000 or a live account. The lowest amount you could deposit is $50.
Restricted Education
Access to the learning materials is limited to only the account owners. Without being registered as an everyday user, you will not be able to see what materials the platform offers. These come in the form of short articles and summarized video clips. Not overly detailed, but still helpful for beginners.
StormGain Withdrawal
As previously discussed, every withdrawal includes a standard fee of 0.1% and a recurring fee that depends on the currency chosen. There’s about a dozen currencies accepted, which is a plus.
The minimum withdrawal amount also depends on your preferred currency. For BTC that amount is set to 0.0014 BTC (~38 USD).
StormGain Support
Besides phone number and email addresses, other means of contact only include an online form. Such a popular and reputable provider should be able to organize a crew for the online chat services, as well. In those terms, the firm doesn’t provide the maximum service expected.
We Solve Payout Issues
Whether StormGain is popular or not, they’re still only supervised by one offshore entity that doesn’t make them as reliable as heavily regulated crypto exchanges worldwide. 70Trades is yet another offshore entity but doesn’t hold a valid license, so caution is advised in any case.
If you’re having problems processing your withdrawals, please consider contacting our online chat agents. Through them, you can book your free consultation and get legal help for a quickest fund recovery.
FAQ Section
