The History of Stormgain
As one of the youngest companies mentioned on our list, Stormgain was actually first conceived in 2017, though the platform itself didn’t launch until sometime around mid-2019.
Previous to becoming CEO and founder of Stormgain, Alex Althausen had already accrued a prestigious history with-in the more traditional Financial Service industry, with over ten years of experience in management.
Not long after its inception, Alex’s company had secured vital sponsorship deals; with Newcastle United FC, UFC Games, Simplex and BitGo featuring most prominently amongst them – and these sponsorships have been instrumental in helping the company gain credibility for its long term goals.
Headquartered in the UK (London, to be exact) this rapidly growing enterprise has now made its presence felt in many other countries; China, France, Netherlands, Turkey, UK, Germany, Italy, Poland, Portugal, Russia, Spain, and Vietnam among others – which is impressive given how early in the stages of its growth Stormgain actually is, at least currently.
Starting out as just another crypto-broker application, Stormgain initially made an impact on the market by subscribing high-leverage pairs at a competitively low rate of commissions (and no significant hidden fees).
The company is registered in Saint Vincent and the Grenadines, though it is UK-based. Stormgain is not yet regulated but has gained serious momentum since its very beginning, with its services now reaching over 120,000 clients in more than 100 countries.
Over the last year the company has expanded beyond all recognition, encompassing many facets of the digital finance industry that were previously closed off to its short (but ever-expanding) reach – with Stormgain’s long term goal being to excel in multiple areas of the crypto-asset economy.
Boasting a highly usable and manageable interface, StormGain allows users and investors to buy crypto (such as Bitcoin) with the help of credit card purchases. It supports MasterCard, Simplex, VISA Card, and most other major credit cards.
The Pros
Stormgain actively employs tools to help them understand the trading necessities of each and every type of trader/investor based on the experience they hold, providing some incredible mechanisms that are rare to find on any other online platform.
It offers helpful pro-tools like charting tools to its crypto traders and also backs them up with leverage options to take their cryptocurrency exchange and investment portfolio to the next level.
Stormgain functions on trading cryptocurrency derivatives, which are stored as a deposit on USDT on the account of the clients (it also provides deposit bonuses). By simply depositing, say, $50 US (which is the minimum deposit required) into your account, you can start leveraging that amount 10X-200X with the help of various tools, which the platform also offers.
(One should bear in mind that leverage exchange is exciting as it can boost gains in a very short time span, but it also comes with the innate risk of loss.)
There is even a Stormgain miner that you can use to generate small amounts of crypto if you are that way inclined.
The Cons
There are some bad and questionable reviews online, no matter how short (or far) you cast your gaze over the crypto-currency horizon.
Despite this bumpy upset right at the inception of their career, Stormgain are indeed safe – though perhaps slightly less than some, and are to be used with caution by any investor without at least some background in leveraging crypto.
The commission for depositing using credit card of 5% is high and the cost of 0.1% to withdraw is also worth some consideration. Also, using USDT is not very handy for all users and while the costs of trading on the platform are indeed low, the depositing and withdrawing are very expensive.
It is advised that you activate 2-factor authentication, and don’t leave any funds (that you are not actively trading) on the exchange.
The instruments they offer can be extremely risky, and if you start trading with a high multiplier (100X+ for example) it is almost the same as gambling.
This means that you can make a quick profit, but also a quick loss.
This is especially true if you don’t understand a thing about the platform and therefore lose your deposit after some volatility; chances are – unfortunately – that you may have a negative experience (and that’s often why there are some negative reviews of Stormgain) so makes sure you know what you are doing before you begin trading in crypto.