Unidex or StormGain – which is better for UK traders 2024? Compare Unidex and StormGain in this detailed breakdown of their platforms, features and fees.
UniDex is an inclusive DeFi network, launched in 2021. The exchange supports several crypto trading activities including options aggregation, leveraged investments and cross-chain trading. UniDex uses 160+ liquidity partners to source the best pricing with $40+ billion in aggregated liquidity.
StormGain has closed or no longer accepts UK clients.
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.
Pros
User-friendly exchange with TradingView charts and 100+ technical indicators
Access to competitive market prices with an advanced liquidity engine
Native exchange token with fee rewards and governance power
50% of trading fees are distributed to UNIDX coin holders
Automated trading via bots like the UniDexBot
Access to 200+ trading protocols
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 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
Cons
Limited contact options with no live chat or telephone support
Unregulated firm with limited regulatory credentials
Trails the best brokers for crypto education
No desktop download or mobile app
Relatively young technology
No demo trading
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
UniDex offers a huge range of popular and emerging DeFi tokens including Bitcoin, Ethereum and Litecoin. Traders can also invest in the brand's native token UNDX, and be compensated with fee rebates. Transaction fees are floating, typically fluctuating between $24 and $29.
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.