Trading on StormGain - How to Trade It in 2023

Leverage (Multiplier)

Leverage trading means that you can increase the amount you are trading with without having to have a larger balance. This allows you to profit from smaller price movements and profit extremely well from large price movements. Be aware though, it also works the other way; if the trade doesn’t go in your favour, you can lose more (profits and losses are multiplied with leverage) and even lose your entire balance. StormGain offers up to 150x leverage. To change leverage on StormGain, press the ‘Multiplier’ bo and use the slider or enter the amount of leverage you want for the trade.

As I said above, the maximum possible leverage you can use on StormGain is 150x, but this is only for the BTC/USDT pair. All other coins on StormGain have a maximum leverage of 50x.

Before we jump into the steps to make a trade, I’m going to give you some important information that you need to know before trading.

Order Types

StormGain offers four main order types. First up, we have market orders (Now) which are the default on the trading platform. Market orders are orders which execute instantly at market price. Market orders are good for taking opportunities in the market and for those who don’t have patience to wait for orders to fill. The second order type on StormGain is limit orders (At the price). Limit orders are saying that if the price goes to x, buy/sell z amount of the asset. Limit orders usually take longer to complete but can have lower fees. StormGain also has stop-limit orders for stop losses take profit orders, these order types let you limit the loss of a trade or secure profit if it is going in your direction. To re-cap, the order types on StormGain are:

• Market (Now)
• Limit (At the price)
• Stop Loss
• Limit Profit

What can you trade on StormGain?

Here is a list of the supported Cryptocurrencies (coins) on StormGain:

• Bitcoin (BTC)
• XRP (XRP)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BTC)
• Nem (XEM)
• Ethereum Classic (ETC)
• QTUM (QTUM)
• OmiseGO (OMG)
• NEO (NEO)
• EOS (EOS)
• Tron (TRX)
• IOTA (IOTA)
• Cardano (ADA)
• Zcash (ZEC)
• Stellar Lumens (XLM)
• Dash (DASH)
• Monero (XMR)
• Bitcoin Gold (BTG)

Each coin has both a USDT and BTC pair, which is really good to see. Also, I’m impressed with the sheer amount of altcoins you can trade on StormGain, it’s much more than with other margin exchanges, so if you are looking for somewhere to margin trade smaller coins as well as large caps (eg Bitcoin Ethereum), then StormGain might be just right for you.

How to trade on StormGain

To trade on StormGain with multiplier (leverage), use the following steps:

1. Deposit into your account

As I stated earlier in this review, you’re going to have to deposit some cryptocurrency before you can start trading.

2. Open a trade

Click on the ‘Trading with multiplier‘ tab, select the pair you want to trade (for example BTC/USDT) and then click ‘Open trade‘. You will then see a box pop up; now select which order type (as described above) you want to use from the two tabs.

Once you’ve decided on which order type, enter how much you want to trade and which amount of leverage (multiplier) you would like to use. If you’re new to leverage crypto trading, I suggest that you use low leverage (around 10-20x) until you get the feel of things. Once you’ve entered your trade info, click ‘Buy‘ or ‘Sell‘ depending on which trade you would like to make. I like the fact that they tell you exactly what the commission for your trade will be before you make it.

Tip: You can also enter a stop loss or take profit if you would like, this means that you can automatically close your trade-in profit or loss of your choice.

StormGain also has a feature called ‘Auto-increase‘ which is similar to Bybit’s Auto Margin Replenishment (AMR) which adds to your trade if it is losing to ensure that you do not get liquidated.

3. Monitor trade

You can monitor the status of your live trade on StormGain by looking at the ‘My open trades‘ section. This is a nice feature as you can see your current profit/loss on the trade and see details on when you opened it. This is also the place where you will close the trade from when you are ready. I would like to see the percentage profit/loss as well as just the Tether amount here, just something to think about.

4. Close the trade

Now that you’ve (hopefully) made some profit from the market, you probably want to lock it in right? Well closing a trade is pretty simple, all you have to do is go to the ‘My open trades‘ section, hover over the trade and click ‘CLOSE OUT‘. A box will pop-up asking you to confirm that you would like to close the trade, you can also see all the details of the trade here before terminating it. If you want to continue to close, click ‘Yes, close‘ and if you don’t want to anymore, click ‘Cancel’.

All done, you’ve successfully made a trade on StormGain!

Mobile App

One of the major benefits of StormGain over other crypto margin trading platforms, in my opinion, is the fact that they offer a mobile app for both IOS Android (Google Play Devices). The mobile app has all the main features of the web platform, all compressed into a well-designed and fast mobile-ready application.

The StormGain mobile app also offers features which you can’t get on the web version, such as price alerts for cryptocurrencies, this is a nice little feature which improves the overall experience for the trader – I always like to know what’s going on in the market, and push notifications to your phone is a must for me.

StormGain’s app is available to download on the Apple App Store (IOS) and the Google Play Store (Android).

Demo Account

The StormGain exchange offers a demo of $50,000 USDT (Tether) which you can use completely for free to test out the exchange’s features. Demo accounts and regular accounts are both accessed from one account. To use StormGain demo, use these instructions:

1. Visit the website here and register for a free account
2. Login to your account
3. Click on your account name (email address)
4. Toggle the ‘Demo account‘ button
5. Click ‘Yes‘
6. You can now use your $50K StormGain demo and when you’re ready, you can switch back to a regular account by toggling the ‘Demo account‘ button again

I’ve put together a few images below which explain the process in further detail:

Activate StormGain Demo

Demo Confirmation

StormGain Demo Balance

Is KYC required?

No, you do not have to perform KYC (Know Your Customer) checks on StormGain. Not having to verify your identity means that you can start trading instantly with no restrictions. This is possible since the crypto trading industry is fairly new and lacks regulation (so give it a go while you can!).

Earn Interest on Crypto Deposits

StormGain pays investors and traders holding cryptocurrencies interest on deposits held in the StormGain wallets.

By having deposits of between 100 and 50,000 USDT, StormGain pays interest of 10% per annum on deposits held for a minimum of 30 days.

Interest is calculated on a daily based on the account balance at 21:00 GMT. The amount of interest is added using the equity method at the moment of calculation. In other words, the total remaining balance of all accounts and any end-of-day bonus funds.

Rules for the Deposit Interest Rate Programme

Charts

The StormGain StormGain has built-in interactive charts which you can use to track historical price movements in order to make better trade decisions. The charts are native to the StormGain platform and there is currently no integration with TradingView which we would like to see at some point in the future. However, the charts look really nice and are easy to use in my opinion. The charts offer a range of different time frames, types and indicators to suit any trader. This includes the most popular chart types like Candles, Line, Area, Heiken Ashi and bars. With regards to available time frames, you can choose between; 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 1 day, 1 week and 1 month, so there’s plenty of options there for you.

I also like the fact that you can make the chart full-screen as well as draw on the charts with all the usual tools and indicators, similarly to TradingView.

I would like to note here that I would like to see the option to change from dark mode to a normal, light mode as it can be hard on the eyes during the day for me, although this probably doesn’t bother too many people as many enjoy using dark mode all the time!

Customer Support

Customer support on crypto exchanges can make it extremely popular, or alternatively, make it a ghost town. As I’ve mentioned in my other exchange reviews, it remains one of the most important aspects of crypto exchanges which needs to be done right.

StormGain offers 24/7 live support via live chat, telegram, email and phone.

I love the fact that there is a live chat from the main trading screen, it saves tons of time spent sending emails back and forth. To use the live chat, just log in to your StormGain account, click on the chat button and start your conversation.

Alternatively, you can use the email, telegram and phone support channels as shown below.

Email	[email protected]
Telegram	t.me/StormGain
Phone	+248 467 19 57

I was truly shocked to see that they offer phone support, I’m not sure I’ve ever seen an exchange provide this level of support before. Overall, I’m impressed with the support aspect of the exchange and found it easy to get a response about any issues I had on the exchange.