StormGain is a comprehensive crypto platform that allows clients to trade crypto derivatives, store them in a wallet, mine new tokens and access DeFi capabilities such as staking. The focus is on trading crypto futures, which takes place through proprietary software with integreated trading signals and a suite of educational software. The platform also supports trading on 'tokenized assets' – smart contracts based on gold and silver price movements – and crypto options.
Nexo is a centralized crypto exchange founded in 2018 in Bulgaria and today operates across some 200 jurisdictions from its base in Switzerland. It provides services including spot trading, futures trading, peer-to-peer loans, cold wallet storage and fiat-on ramps to buy crypto tokens. The crypto firm is registered with some respected financial authorities, such as the ASIC, and offers some fairly unique additional services including a credit card.
Bonus Offer
Tiered Loyalty Program
Loyalty scheme with various bonuses, plus referral program and bonus paid to lenders on credit line
Comment by Reviewer
"StormGain is a good option for day traders who want to focus on digital assets because it offers 60+ crypto futures with high leverage as well as DeFi functions including mining and staking. However, the usual lack of regulation raises concerns about safety so this is riskier than crypto brokers. "
"Nexo gives crypto traders the capability to trade, invest, lend and borrow digital assets in one place, and it’s especially good for its credit functions that pay out very high yields to lenders. However, its fees are relatively high and many day traders will prefer a more tightly regulated crypto broker."
Pros
Offers highly leveraged trading on 60+ crypto futures as well as indices, options and some spot cryptos
Interesting instruments including crypto indices and tokenized gold and silver
Easy-to-use proprietary platform allows users of all experience levels to start trading crypto derivatives quickly
Leverage up to 1:300 is very high and will suit experienced day traders with a high risk appetite
Good educational section with plenty of material for intermediate and experienced traders as well as beginners
Tier-based account types with some decent mining rewards for high-volume traders
Reputable crypto exchange that has been in business since 2018 and has taken some steps toward regulation
Nexo Pro is a user-friendly proprietary platform that suits day trading strategies with great charting features
Value-add tools integrated into the trading platform including social media analysis and newsfeeds by asset
Traders can access perpetual futures to open long or short positions on crypto assets, increasing strategic opportunities
Nexo’s crypto staking and credit features support crypto lending and borrowing, and the yields lenders receive are among the best going
Traders benefit from bonuses and incentives including free trading funds paid to lenders and cashback in the form of the exchange’s native Nexo token
Cons
Few futures compared to many similar competitors in the crypto sphere, such as Coinbase, Kraken and Binance, which offer hundreds
Only supports direct purchase of nine cryptocurrencies, which is very few compared to Coinbase and others
Traders can only fund accounts by transferring crypto or buying it with a pricey card transaction
Limited platform with no automated trading bots or copy trading
Maker/taker fees are more than double some top rivals like Kraken
Unregulated firm that has only been in business since 2019
Poor selection of research materials compared to rivals like Coinbase that regularly update with expert analysis
Although Nexo has registered with some reputable watchdogs, it is riskier to trade with than established crypto brokers like AvaTrade and Vantage
High deposit and withdrawal fees for cards and e-wallets will price many traders out of the most convenient payment methods
Very few educational resources are available, reducing its appeal to beginners who can find more helpful resources at category leaders like eToro
High maker/taker fees mean day traders will pay more to trade derivatives than they would at rival exchanges like Binance
The range of tokens is extensive compared to most crypto brokers but still much smaller than similar crypto exchanges like Kraken
Awards
Most Trusted Crypto Broker 2023 – World Finance
Crypto Trading Platform of 2022 – AIBC
Best Crypto Broker 2022 - World Finance
Best Crypto Broker of 2021 – World Finance
Best Crypto Broker of 2021 – UF
Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
StormGain is a crypto platform that allows clients to trade crypto derivatives, store them in a wallet, mine new tokens and access DeFi capabilities such as staking. The focus is on trading crypto futures, which takes place through proprietary software with integreated trading signals and a suite of educational software. The platform also supports trading on 'tokenized assets' – smart contracts based on gold and silver price movements – and crypto options.
Nexo offers trading on an impressive suite of around 70 tokens, including Bitcoin. Digital assets can be bought, sold and swapped directly on the exchange or traded in over 500 pairs. Digital assets can also be used as collateral for fiat loans or used to generate passive income with the ‘smart staking’ tool or from interest earned via peer-to-peer loans.
