StormGain vs Kraken: Compared, Tried & Tested in 2022

Trying to decide whether StormGain or Kraken will be best for you?

Don’t worry; I got you.

You see, choosing the right exchange among such widely available options in the cryptosphere can be quite difficult, especially when talking about StormGain and Kraken; the difficulty multiplies.

During the current market volatility, it is quite crucial to use the best platform possible, so that is why to help you make that decision, I am here with the most sensible and in-depth comparison of both StormGain and Kraken.

So without any further delay, let’s start with some introduction to these exchanges.

StormGain vs Kraken: Introduction

StormGain

Providing its crypto trading services since mid-2019, StormGain has made its way among the major entitled crypto exchanges in a comparatively very short time. Being registered in Seychelles and headquartered in London, StormGain holds an average trading volume of more than $750 million.

The platform has been constantly mentioned by prominent mainstream media houses nominating the platform among the best emerging fintech start-ups. StormGain is currently offering a free demo account funded with 50,000 USDT.

Additionally, the platform is also a member of the Blockchain Association of the Financial Commission. On StormGain, other than direct trading, you can also earn passive income from your crypto holdings, as the wallet itself gives you up to 8% interest on your crypto deposits.

Kraken

kraken

On the other hand, Kraken was introduced in 2011 in San Francisco with its offices worldwide. The platform holds more than 9 million registered users with over $207 billion in average trading volume. Kraken is available in over 190 countries worldwide.

Kraken offers two trading platforms under one roof, which are; the standard Kraken and the Kraken pro, which offer lower pricing and is designated for high-volume traders. Kraken pro can be easily accessed by anyone with a Kraken account.

StormGain vs Kraken: Supported Cryptocurrencies

Now let us start by discussing what cryptocurrencies these platforms have to offer.

StormGain

StormGain Supported Cryptocurrencies

StormGain trading exchange provides all the prominent crypto assets of the cryptosphere, which include the following:

  • BTC
  • ETH
  • USDT
  • XRP
  • EOS
  • DOGE
  • SOL

All the above assets can easily be integrated with all the products available on the exchange.

Kraken

kraken Supported Cryptocurrencies

Coming to Kraken, this cryptocurrency exchange offers more than 185+ crypto assets. You can start trading on Kraken with just $10 allowing you to trade against USD, EUR, CAD, GBP, CHF and JPY seamlessly.

This wide variety of cryptocurrencies makes sure that all your favourite assets are available at your fingertips.

Verdict: Kraken is clearly the winner in this segment, with a wider offering of cryptocurrencies.

StormGain vs Kraken: Product Offerings

Coming to product types, both StormGain and Kraken stand pretty head-to-head. Let’s discuss their product offerings now.

StormGain

Beginning with StormGain, this exchange offers a wide range of crypto trading products which are:

  • Over-the-Counter Crypto Trading
  • Leverage Trading
  • Multi-Currency Crypto Wallet
  • Options Trading
  • Crypto Indices

StormGain also provides floating leverage for margin trading. The following are its leverage:

Maximum Leverage Asset Pairs
Up to 500X BTC/USDT
Up to 100X LTC/USDT

BCH/USDT

ETH/USDT

XAU/USDT

XAG/USDT and three different crypto indices

Up to 50X Other trading pairs
Minimum 5X On all trading pairs

Kraken

On the contrary, Kraken also offers a diverse series of products letting you take maximum advantage of the crypto market; these are:

  • Margin Trading
  • Futures Trading
  • Crypto Indices
  • Over-the-Counter Crypto Trading

Kraken provides you with maximum leverage of up to 5X on most of the assets supported on the exchange.

Verdict: Both StormGain and Kraken are pretty similar in this segment. But StormGain holds a slight upper hand with more leverage and more products.

StormGain vs Kraken: Order Types

Coming to order types, both platforms offer standard order types giving you an optimized trading experience. The order types are:

StormGain

  • Market Order
  • Limit Order
  • Stop-Loss Order

Kraken

  • Market Order
  • Stop-Loss Order
  • Limit Order
  • Take-Profit Order

Verdict: Both StormGain and Kraken offer similar order types; hence it’s a tie between them in this segment.

StormGain vs Kraken: Fees Comparison

Both StormGain and Kraken offer fairly competitive pricing; let’s discuss them in depth now.

StormGain-Trading Fees

The fee structure can be classified into three subcategories which are:

The Trading fees follow a flat fee pricing model that depends on the asset you are trading in. There is zero commission for OTC trading, but a profit share of flat 10% is attracted from profitable trades.

Debit/Credit Cards Deposit Commissions

When using a debit/credit card for funding, you need to pay a flat 5% charge as a deposit commission. The maximum deposit amount would depend on the currency you choose to deposit.

Crypto Deposits/Withdrawals

On StormGain, deposits are free; however, while withdrawing, a minimal fee is charged depending upon the asset. There is also an additional flat fee of 0.1% charged on each withdrawal.

Kraken

Similarly, the Kraken crypto exchange also involves trading fees which can be further classified into spot and futures trading fees. Let’s discuss them quickly to help you understand them better.

Trading Fees- Spot Trading Fees

30- Day Volume (USD) Maker Taker
$0 – $50,000 0.16% 0.26%
$50,001 – $100,000 0.14% 0.24%
$100,001 – $250,000 0.12% 0.22%
$250,001 – $500,000 0.10% 0.20%
$500,001 – $1,000,000 0.08% 0.18%
$1,000,001 – $2,500,000 0.06% 0.16%
$2,500,001 – $5,000,000 0.04% 0.14%
$5,000,001 – $10,000,000 0.02% 0.12%
$10,000,000+ 0.00% 0.10%

Trading Fees-Futures Trading Fees

30-Day Volume USD Maker Fee Taker Fee
$0 – $100,000 0.0200% 0.0500%
$100,001 – $1,000,000 0.0150% 0.0400%
$1,000,001 – $5,000,000 0.0125% 0.0300%
$5,000,001 – $10,000,000 0.0100% 0.0250%
$10,000,001 – $20,000,000 0.0075% 0.0200%
$20,000,001 – $50,000,000 0.0050% 0.0150%
$50,000,001 – $100,000,000 0.0025% 0.0125%
$100,000,001 + 0.0000% 0.0100%

StormGain vs Kraken: Account Funding Methods

StormGain

StormGain offers 2 different methods of funding your trading account, which are:

  • Funding method 1: Direct deposit from an already existing wallet address.
  • Funding method 2: Instant deposit through credit cards settled via SIMPLEX service.

You can quickly fund your account, go to the wallet section and select the cryptocurrency. Then click the ‘Get’ option and select the preferred method of funding using the ‘address’, QR code or credit card.

Kraken

On the contrary, is Kraken, which offers numerous funding methods as well, which are:

  • Funding method 1: Funding through traditional fiat currencies.
  • Funding method 2: Direct funding through your crypto holdings.
  • Funding method 3: Using bank transfers, digital wallet or credit/debit card for instant deposits.

StormGain vs Kraken: Trading Platform Comparison

StormGain

stormgain trading ui

Beginning with StormGain, the exchange provides a powerful trading engine that executes your trades without any lags or errors working seamlessly with all your devices. Its trading dashboard consists of some highlighting features, which are:  

  • Technical Analysis Charts
  • Order Book
  • Recent Trade Widgets
  • Order Form

The features that it comes with make the overall trading exchange easy to understand for beginners and sophisticated enough for experienced traders. For your convenience, the indicators are categorized by trends, oscillators and volatility.

The platform lets you place numerous order types and use customizable layout options, technical indicators and trading tools for advanced technical analysis. 

The platform also features a professional charting system offering you different options of chart types, and you can choose from 9 different time- frames ranging from 1 min to a month.

The trading interface is also equipped with a sentiment meter that offers the sentiment data of a particular trading pair based on active trades, which helps determine the market sentiment and price trends and further place a long or short trade accordingly.

Kraken

kraken Trading Platform

As I already told you about the two platforms offered by Kraken. Beginners should start with the standard Kraken platform. Apart from crypto trading, you can also earn from crypto staking on Kraken.

On the other hand, Kraken pro is an active trading platform that works through its web portal as well as its mobile app. It includes more detailed crypto information, including active charts and a view into open orders. It also has a lower fee structure, but you need to actively trade to access it.

Kraken’s interface is quite smooth and comes with a reasonably powerful engine. The application is available for both desktop and mobile devices with 100% compatibility.

StormGain vs Kraken: Account Types

StormGain

StormGain provides two types of accounts based on your verification level, which are:

  • Real Account
  • Demo Account

To be eligible to trade, you must submit your identification details and get verified; however, there is also an anonymous trading option, but access and withdrawals are limited.

Kraken

Kraken has four levels of accounts depending on your verification status; these are:

Starter- Requirements 

  • Full name
  • Phone number
  • Physical Address

Express- Requirements

  • All the starter-level requirements
  • Occupation information
  • And, Social security number if you are a US trader.

Intermediate- Requirements 

  • All express requirements
  • KYC verification with valid IDs
  • Proof of residence
  • Face photo

PRO- Requirements

  • All intermediate requirements
  • Fill KYC questionnaire
  • Set up two-factor authentication

Now, I will tell you how you can begin your trading journey on these platforms.

StormGain vs Kraken: How to get started?

StormGain

stormgain getting started

To get started and register yourself on StormGain, follow these steps:

  1. Click “Create an account” in the top right corner of the website.
  2. Enter your valid email, phone number, and password. Accept the mentioned terms and conditions, and then confirm that you are not a US citizen.
  3. Click the ‘Register’ button, and your account registration process will complete. Then an affirmation link will be sent to your registered email address; click to verify your account.

Kraken

kraken getting started

Creating Your Account on Kraken

  1. Firstly, go to Kraken’s homepage and click the ‘Create’ an account tab. 
  2. Now, fill out the registration form using your email ID, username and password. 
  3. Select your country and enter other location-related details.  
  4. Then, activate your account using the activation key you’ll receive in your registered email. 
  5. Once your account is verified, you should confirm the password by entering the captcha, and your account is now completely ready to start trading.

Now you can directly make deposits and withdrawals through the method you want from the list mentioned on the funding page of your account and start trading.

StormGain vs Kraken: Customer Support

StormGain

StormGain provides a dedicated customer support team that is available 24×7 at your service. The website also offers a FAQ section with a knowledge base and video tutorials providing solutions to all your queries.

Kraken

Coming to Kraken’s customer support, offers 24×7 live chat support along with personal account representatives to handle all the account-related queries and requests of consistent traders.

StormGain vs Kraken: Security Features

StormGain

When it comes to StormGain security features, the one word for it is ‘Impenetrable’. It has all the industry-leading security systems, including SSL encryption, PCI-DSS and GDPR compliance, Real-time monitoring, quarterly security audit and two-factor authentication, making the platform a fortress.

Kraken

Now coming to Kraken’s security features, I must say it is nowhere behind. It implements cold wallet storage systems as well as two-factor authentication by default and tests all its third-party services via a dedicated team checking for any flaw or security issue.

  • Is StormGain safe?

StormGain is quite a safe and legitimate platform that offers one of the most user-friendly interfaces and some of the most advanced security systems in the cryptosphere. So safety and security are not at all a question on StormGain.

  • Is Kraken safe?

On the other hand, Kraken is among the longest-running crypto trading exchanges, with no reports of cyber security breaches on the platform to date. Kraken is one of the most trusted exchanges in the world, and its growing fan base is evidence of this.

Conclusion

On the whole, both StormGain and Kraken are fantastic tools for profitable crypto trading. The two offer the safest and most convenient ecosystem for trading with some of the best product and order types.

But when you ask me which of the two will be best for you, the choice is pretty straightforward. If you are new to the cryptosphere and looking for an exchange to experiment and learn with, then StormGain will be the best option for you.

It comes with all the crucial crypto assets, products and order types. Moreover offers an easy-to-use, straightforward interface which makes it a beginner-friendly platform.

On the other hand, experienced traders can choose Kraken without further thought as it comes with all the advanced trading toolsets readily on the exchange. The functionalities and features Kraken provides you are quite unique and enjoyed by experienced traders worldwide.

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Jack Bailey

I am John, a veteran trader turned into a trading coach. Especially in the realm of cryptocurrency derivatives which is now booming and expected to grow big.