Learn about the Stern Options binary broker in our latest review here!

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Stern Options Review

Rating:

Do you expect something great from trading with Stern Options binary broker? In this review, we will investigate Stern Options carefully to bring you the most up-to-date information about this brokerage firm!

Min. Deposit: $500 Demo: N/A

Platform: SpotOption Bonus: N/A

Regulation: N/A US Clients: N/A

Stern Options is a new broker that was found in 2020. During our review we found out that it is located in Scotland and is owned and operated by the BP1 LP. Our Stern Options review has identified that this binary broker is not licensed by any recognized authority. Hence, Stern Options does not accept clients from the US, which is a good sign from traders from other countries, since it shows that this broker cares about its clients and does not want to risk being sued by the US authorities.

Stern Options Trading Accounts

Traders usually expect brokers to provide flexible account conditions that will allow getting most out of their strategies. As for Stern Options it offers one live account that can be opened after depositing 300 USD or the equivalent amount in EUR, GBP or AUD. But, with this account you will be able to get everything right away. All features that are usually available only for VIP users at some of the brokers are available here even with a min. deposit.

Stern Options Trading Platform Review

The most popular software choice among binary brokers is SpotOption. Stern Options follows the suit and you can find this web-platform offered on the website. There are different types of binary trading. Let’s list them further in our Stern Options opinion.

  • Binary options
  • Pairs
  • Long Term
  • 60 Sec
  • One Touch
  • Ladder
  • FX/CFD
  • Limits

Unfortunately, iFollow feature is not offered here. We hope that Stern Options broker will develop this feature in the nearest future and all of its clients will be able to enjoy social trading.

Stern Options Reviews: Customer Support

Customer support at Stern Options is available via email, telephone and live chat. Unfortunately, live chat is not available 24/7 but the phone support is. Its support speaks English, German and Arabic languages. Also, there are dedicated phone support numbers available for Scotland, UK, Australia, Germany, Switzerland, Austria and Saudi Arabia.

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Deposits and Withdrawals

Either to deposit or withdraw funds, you can use credit/debit cards and wire transfers. The minimum deposit amount using wire transfers is $500 with 20 USD commission.

The website tells that the withdrawal process is smooth and fast. Stern Options broker charges a fixed fee of 3.5 % for withdrawing with the card and 15 USD commission for each withdrawal via wire transfers. Also, as a usual practice for the industry, it takes approximately 7 business days for funds to reach your bank account.

Stern Options Review Conclusion

Is Stern Options legit? Yes it is. Even though, this broker does not have any license, it offers the best binary options trading platform as well as good customer support. We hope that it will implement iFollow feature soon and we will be able to test it! We can definitely say that Stern Options scam claims are not true.

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Why Trade Binary Options?

Binary Options Trading is certainly a great way to make money online. It requires less experience compared to forex trading, yet binary options trading also involves a significant degree of risk. Among the benefits of binary options, ease of access is the main one. Also binary options provide higher payouts within the lower timeframe. Another advantage of binary options trading is web platforms, no installation required. It is fun and exciting process, yet you need to have a decent binary options trading strategy – get one at Binary Options Hub.

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Many traders mislead the definition of binary options brokers and binary options platforms, Binary Options Hub is here to make it clear. Binary Options Brokers are the ones that supply you with services like customer support, help with deposits and withdrawals, various client benefits and so on. Binary Options Brokers are servicing you. Binary Options Platforms are the trading software providers, most of the Binary Options Brokers have a third-party Binary Options Platform. In other words, a Binary Options Platform is simply an options trading platform.

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Binary Options Hub is a website dedicated to making binary options trading industry more transparent, honest and reliable. Our mission is to supply binary options traders with honest binary options reviews and also to provide a detailed reivew of the binary options trading platforms. Note that binary options trading involves a high level of risk itself and it is much risker when you trade with unregulated binary options brokers. Also there are a lot of binary options scams in this industry. Binary Options Hub is here to guide your through the available offers on the market and assure that you are always making a right choice when it comes to selecting the best binary options broker or top binary options trading platform. Trading binary options is quite fun and exciting process that may also result in financial gains, however it is also very risky. Please note that Binary Options Hub does not take any responsibility for your investment decisions. Binary Options Hub also recommends you to consult with an expert before engaging into binary options trading activity. Please read our full disclaimer and risk warning to understand the risks of binary options trading better. Do not deposit more than you are willing to risk.

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Broker Review: Stern Options

Today I’m doing another binary options broker review, of the platform that claims to be the the world’s best trading environment, Stern Options. This platform promises traders opportunity, support and industry-leading security. In this review, I’ll be analyzing all 3 of these points, and taking a closer look at what the binary options community has been saying about this brokerage. By the end of the review, my hopes is that we will have a clear understanding as to how we should move forward.

Owned and operated by BP1 LP, this broker opened its doors in July 2020, and is located at 5th and 6th Floors, Landmark Building, 14 Tsar Osvoboditel Blvd., Sofia, Bulgaria. They can be contacted via phone at +44 800 086 9172, or at [email protected].

Stern Options Review

According to the website, Stern Options is run by a team of experienced professionals with years of experience in the binary options marketplace. With the platform, traders are able to trade currencies, commodities, stocks and indices. As mentioned above, the broker wants traders to know that they can trade 24/7, because they always have assets available to trade. They believe that it doesn’t matter where you live, “you’ll find an asset or a trade that is right for you.”

They believe that they have the highest level of expertise in the market, and cutting edge technology. From what I can see, they are utilizing the spot option platform, which is a good platform but it doesn’t offer anything 2 different from their competitors.

This broker wants the community to know that it’s run by professionals. They mention this multiple times in the sales page, and feel that putting together a group of highly educated individuals that are professionally trained, gives them an edge over other brokers. This seems like a lot of talk, but it’s good to see that they are promoting a positive message.

Details

  • Type: Options Broker
  • Founded: 2020
  • Location: Bulgaria
  • Platform: Web-based, Mobile
  • Payouts: 75-85%
  • Minimum Deposit: $250

Normally, binary options brokers like Stern Options have a plethora of different trading account options, but this doesn’t seem to be the case. Instead of having different account levels, like gold, platinum, or diamond, there is just a simple registration form.

As far as I’m concerned, this is a breath of fresh air. I don’t really appreciated when binary options brokers try to pull larger deposits from their clients, by holding back some of their offers and services. In this case, the broker isn’t holding back aspects of their service, in an attempt to make you deposit more than your comfortable with. You get access to all of their services as soon as you register.

Education Center

The broker website includes an education center which provides access to a couple of different lessons, and an e-book that you can download. The education center includes introduction videos, and in-depth course, strategies and economics. In order to see more of the content provided by Stern Options I have to register an account, but in doing a brief overlook of what they have to offer, I don’t feel that they are providing anything above and beyond what other binary options brokers are providing.

I find that most brokers like Binary Cent , Binary Xchange and Tudor Trade all have brief education centers as well. They are never overly helpful.

Client Feedback

In doing in-depth research, I found positive and negative reviews, but at this point in time the negative reviews are out weighing the positive. There are a couple of stories that are quite egregious, including one posted just a couple of months ago that claims that Stern Options took advantage of a vulnerable, and mentally confused person, losing their life savings .

You can read it, in full here, and see the image as well.

This is a red flag, to say the least.

Conclusion

At first, I was very confident in the Stern Options service, but after reading a handful of reviews and real client feedback, I much more skeptical. I don’t think I can recommend this broker to any of the Binary Today readers at this point in time. If you have anything you would like to add to the review, please do so now.

Stern Options Review – is sternoptions.com scam or good binary options broker?

Basic Information

Broker Platform Sign Up
Custom Start
Minimum deposit Min./ Max. bet size Payout % Platform Regulation
$250 $25/$15,000 Up to 500% (70-85% on most) SpotOption No

Stern Options is a very shady binary options provider. At the time of writing of this review, one can’t open an account with the company. Furthermore their entire website is totally unstructured, features contradictory trading conditions and even has advertisement for other binary brokers.

The Company. Security of Funds

Company Country Regulation
BP1 LP UK, Bulgaria N/A

Stern Options probably gained much of its popularity when New Zealand’s watchdog, the Financial Markets Authority (FMA) issued a warning against them. The cause for it is the fact they had received complaints, due to cold-calling. This aggressive tactic is generally seen as a negative by regulators, especially when done by unregulated companies.

The company behind Stern Options is is BP1 LP, which is registered in the United Kingdom. According to the FMA, Stern Options is being run out of Sofia, Bulgaria. That being said they don not fall under UK, Bulgarian or any regulation.

There are a lot of negative comments by users of the company. The most frequent claim is that they can’t withdraw their funds. This is probably the most serious risk, when dealing with an unregulated company – them simply refusing to pay you.

Trading Conditions

Trading Options: Call/Put, 60 second, Long term, Pairs, One touch, Ladder, Spot Follow, Limits

Assets: Currencies, Stocks, Indices, Commodities

Minimum Initial Deposit

The minimum staring deposit at Stern Options is $250. This is quite high In today’s environment. For instance, FinaCom-regulated Grand Capital, requires only $10.

Stern options requires a $25 minimum bet size. This is quite high and limits the risk management posibilities. Smaller levels are awlays preferable, like the one provided by Grand Capital, where you can risk only $1 per option.

The payout for binary options is typically in the 70%t to 85%, at Stern Options. With the more exotic ones, you can increase the payout up to 500%, although that would obviously entail a less-likely to materialize prediction.

Trading Platform

Stern Options offers the popular web-based platform, SpotOption. It is fairly intuitive (as most binary ones are). Here is a preview:

You can easily switch the tabs on top to view the different the different types of options. Some of them may appear to be complicated for beginners, so proceed with caution.

Stern Options do not have any bonus offers at the time of writing of this review.

Methods of Payment

Payments at Stern Options can be made through several methods, which include Wire transfer Credit/Debit Cards and Skrill.

Conclusion

Stern Options is an unregulated binary options broker. The company has a negative reputation, with lots of complaints by angry customers. Sten apparently also applies cold-calling, as the company has been warned against by financial regulators in New Zealand. While the platform, which Stern Options provides is nice, there are many other companies who also do. Here is a summary of everything you need to know about Stern Options:

Pros Cons
SpotOption platform available Not regulated
Bad reputation among users
FMA warning against the company
No demo accounts
Poor presentation of trading conditions
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Best Binary Options Brokers 2020:
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