Stern Option Review – Thorough Investigation

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Stern Options Review

Stern Options Review: Binary trading has gained popularity over a short period of time, which has led to the entry of many brokers and traders in the foray. This has thrown numerous choices at the traders and traders needs to make a wise decision before taking the big leap. Our endeavor always has been to appraise our readers with up to date information about various brokers and help them take the informed decision. It is not easy task to choose right brokers, option robot or signal service from numerous options.

The summer of 2020, witnessed the entry of a Stern Binary Options Experts. Today, we will review the Stern Binary Options Experts and provide comprehensive analysis for our reader’s consumption. The detailed review has been enlisted hereunder.

Stern Options Review

Various experienced professionals from the finance field got together and create an organization named BP1 LP. The BP1 LP is the owner and operator of the website of Stern Binary Options Expert, also, it takes care of the billing and payment services of the website.

The disheartening fact is that the website neither provide information regarding registration about the company nor about the license. The about us section of the website also doesn’t provide any important information rather it uses generalized terms to describe and boast the team behind the Stern Options and the platform it utilizes. No information on the website, regarding the registration or licensing, provides the first warning signal. Traders are advised to go through term and condition of the website before embarking on their trading journey.

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    The Platform

    The website utilizes the SpotOption to provide the trading platform to their clients. The SpotOption is a well-known name in the trading arena, and it provides very intuitive and user-friendly interface for the users. The trading platform provides a real-time trading environment to the users. The website of the Stern Options is aesthetically designed with the gray, black, and white theme to give a professional look and soothing feel. The broking company claims to have the professional environment and provide 24 x 7 customer support to their clients.

    The aesthetics of the website is designed, keeping in mind, every customer age group. The menus and other elements are neatly placed, and the gray theme allows to see each and every aspect clearly. The navigation from one tab to another is also seamless and provides the unparalleled user experience. The platform offers a variety of option types including currency pairs, long term, 60-sec, one touch, ladder, amongst others. The trading platform also allows the user to put limit orders along with an option for social trading through spot follow option type. The brokerage house offers numerous assets including currency pairs, commodities, stocks and select indices to trade.

    The organization takes pride in providing world class education material free of cost and provides an access to each and every visitor of their site. The top class education material is designed to suit entire strata of traders; from the beginners to the seasoned professionals, and is accessible 24 x 7, making it easy for the user to learn during their suitable time. The learning curve of the education material is designed in a way to make a novice trader to an expert one. The education material provided on the website includes series of video tutorials on the introduction of the subject, knowledge library for binary strategies, introductory tutorials, and videos for learning the platform, e-books, and economics. Also, the registered users of the website have an access to various webinars conducted regularly by the brokerage house, to educate and update the users on various economic events. The education material on the website is one of the best we have seen in the binary brokerage space.

    Stern Options Main Page

    The company requires generic form filling to register on the website and requires a minimum deposit amount of 250 either in EUR / GBP / USD / AUD. The organization requires you to fulfill Know Your Customer and Anti-Money Laundering guidelines, and if someone does not follow the guidelines then his or her account can be suspended with the provision of holding back the account accruals. The discomforting fact is that the brokerage house does not offer a demo or free account for practice and to understand the platform. Though the minimum deposit amount is kept at $ 250, it allows minimum investment amount of $ 25 and payouts up to 94 percent on the investment amount. The minimum deposit amount and investment amount is quite high for a binary broker, as many of the established and well-known brokers offer minimum deposit amount as low as $ 10 and minimum investment amount of $ 1.

    In the world of mobile phones, the company neither offer android application nor an IOS application for the customers on the move. This also adds to the cons of the brokerage house, as almost all the binary brokers offer to trade on the mobile devices. The Stern Options offers an only web-based solution for their customers.

    Deposits and Withdrawals

    The brokerage house provides easy deposits and withdrawals in the accounts. The company restricts minimum deposit to 250 either in EUR / GBP / USD / AUD. The broker offers the usual credit and debit card deposits along with wire transfer for the convenience. It also offers deposits through Skrill, PaySafe, Amex amongst others. The maximum amount for deposit is restricted to 20,000 either in EUR / GBP / USD / AUD, for credit or debit card or Skrill transaction, while it allows depositing unlimited amount through wire transfer.

    The Stern Options follows KYC and AML guidelines rigorously to allow withdrawal to designated customers. The organization requires signed and completed declaration of deposits (DOD), proof of identity and address, a copy of credit or debit card used for funding the account, and a unique voice signature of the customer to complete the withdrawal process along with withdrawal form. The Stern Options does not restrict the minimum withdrawal but the withdrawal process may take up to 7 days to get completed.

    Signup and Bonuses

    The website has a straightforward registration procedure. The form filling requires all the mandatory field to be filled along with e-mail verification to enroll, and once the initial amount has been deposited in the account, one can start utilizing the state of the art platform. The registered users have to fulfill the KYC and AML guidelines as discussed in the above section to initiate withdrawal of funds.

    The website does not discriminate between small and large traders with added benefits for the higher depositing account. All the enrolled users have an access to all the facilities and features of the website.

    The organization offers bonuses from 500 either in EUR / GBP / USD / AUD and upward. The customer needs to attain a 27x volume of the amount of bonuses received in order to withdraw the funds. The bonus terms and conditions are in line with the other brokers in the arena.

    Stern Options Trading

    Payouts and Trading

    The Stern Options offers payouts up to 94 percent of the investment amount in certain options time, this is a big positive as the payouts range falls in the upper band of the offerings from other brokerage houses. The Stern Options offer a range of the assets for the trading including currency pairs, commodities, select stocks, and indices through short-term, long-term, ladder, one-touch, and 60-seconds to suit the need of entire spectrum of traders. The organization also allows the users to follow the successful traders through spot follow options, wherein a client can follow the transaction done by the successful traders and replicate their trades.

    The range of the assets and options types provides comprehensive choices for the traders. Also, the maximum expiry duration allowed is up to 7 days which suits the long term options brokers along with a short duration of 60-seconds for the short term traders. The expiry range is definitely suitable for both short-term and long-term traders but as the brokerage house does not provide spread and other risky options type which might deter the high-risk traders.

    As discussed earlier, the broking company does not offer a mobile application, which can be a deterrent for the customers who prefers to trade while they are on the move.

    Customer Support

    The company takes pride in their customer support system as they have built one of the robust systems for the customers. The support can be reached through e-mail, web chat, phone, and web-form for various requirements. The company has dedicated e-mails for the specific requirements like; for general support and for compliance related queries.

    In the event, the customer wants an immediate assistance he may connect the customer support through live chat. The customer support is offered in Arabic, and German language besides the English language. The website is also offered in Deutsch besides English language, this is a limiting factor for other language speaking customers.

    The customer support system of the organization looks solid but we cannot comment on their efficacy as we have not tested the responses of the support staff.

    The Verdict

    The review of the Stern Binary Options Experts revealed some very important facets of the brokerage house. The pros of the company include the well-known trading platform SpotOption, aesthetic design of the website, and the rigorous process it follows. The organization boasts of being one of the most customer friendlies in the broker arena. The website shows that the promoter has put in all their experience of financial services into their brokerage foray. The company offers a variety of assets and options type to their customer along with payouts to match the top strata of the binary broking industry. Though the organization offers world class platform to their user, our review revealed that the brokerage house is an unregistered entity. Also, the another discomfort comes from the fact that the organization only accepts minimum deposit as $250, which is quite high for a new entity. Although the learning package of the company adds to positives, the non-existence of demo or free account is a huge negative.

    The offering from the Stern Option is attractive, but we would recommend our readers to enroll to the established brokerage company like OptionRobot. Though the OptionRobot is a trading software it has an affiliation with well-known names like Opteck, , 24 Option, Option.fm, Binary Tilt, Banc De Binary. These affiliated brokerage companies provide state of the art platform with customer friendly support system. These companies have a proven track record of consistent withdrawal process and are regulated too!

    Overall, we would recommend our readers to avoid the Stern Binary Options Expert completely and embark their binary trading journey through the Option Robot.

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    Stern Options Withdrawal Problems – Big Scam? Review Uncovers The Truth

    Yet again we are going to review a binary options broker that is no more available. Stern Options had never been a user-friendly platform for various reasons. Firstly, the website featured just a couple of languages i.e. German and English. Even the German version was more of a Germ-Lish style with only a few German phrases surrounding by the English content…

    Stern Options facilitated its clients with 19 stocks, 12 currency pairs, 19 indices, and 7 commodities. Again, a smaller basket was on offer as compared to that of the registered brokers. Moreover, there were differences between the website content and the services on offer.

    The platform has already disappeared soon after the issuance of Stern Options scam warnings by regulatory authorities. But this review will give you a clear idea about how these scam artists use different techniques to fool their clients. Let see where the platform came from and who operated it.

    Stern Options Review Summary

    Summary: Stern Options is 100% a scam & it appears that after receiving several warnings from the authorities the Stern Options website has finally been shut down. Needless to say we did & do not advise trading with them, but if you have already lost money to Stern Options you should keep reading this review to find out how you can get it back.

    Quick Navigation

    This review is going to be quite lengthy as we conducted a thorough investigation into Stern Options & we appreciate you probably just came here looking for some specific information, so to make things easier for you we’ve put together some quick navigation links below:

    Stern Options Background

    As mentioned before, Stern Options is no more available, the information about the platform is also not reliable. Different sources speculate different things. We have found that the platform’s own website mentioned BP1 LP as the owner of the Stern Options. No address was mentioned though!

    Some external sources are convinced that the company’s address is 5th Floor, Landmark Building, 14 Tsar Osvoboditel Blvd., Sofia, Bulgaria. But there is another address mentioned by various sources i.e. 272 Bath Street, Glasgow, Scotland.

    In addition, another source mentioned GUM Ltd. as the owner of Stern Options, operating from 3rd Floor C&H Towers, Great George Street, Roseau, Dominica.

    This confusion has been the result of a frequent change of address and Companies House (UK) once mentioned the change of address but the platform’s website never mentioned anything.

    Whatever the address was, it doesn’t mean anything at this stage. It was the responsibility of the clients creating their accounts to first question their support team, cold callers, or the reps about the absence of the company’s address on the website. We don’t know how these scam artists keep manipulating their client’s thought process. We have no idea of what goes in the client’s mind that restricts them to doubt such obvious blunders.

    How on earth could you hand your money to someone who is not registered, doesn’t want to reveal his/her location or any other proof of his/her identity? How could we or anybody else guide such innocent individuals who don’t even care to check the details before investing their hard-earned money? It’s simply impossible! Everybody warns against unregulated brokers, even the regulatory authorities serve with repeated warnings, and we still see people being looted on regular basis. Is it sheer carelessness or just a blindfold administered by the greed of making quick money? Whatever it is, we can only pray that God keeps you safe from such illusions!

    Is Stern Options Regulated?

    Stern Options was NOT regulated under any authority. In fact, FMA and FCA issued warnings against this platform.

    • The Financial Conduct Authority (FCA) UK warned people against Stern Options by claiming that the company’s reps have been found guilty of encouraging the British citizens to invest on their website (02-06-2020).
    • The Financial Market Authority (FMA) NZ issued a warning that Stern Options reps have been cold calling to attract New Zealand residents (11-07-2020).

    An obvious scam! There is nothing more to say because it makes us feel like narrating the same tale over and over only to witness that these scammers continue to successfully cheat on innocent citizens.

    Stern Options Complaints

    Withdrawal failure for unknown reasons, prolonged withdrawal processing, manipulation of the client’s account, leakage of the client’s personal information, and unauthorized to the client’s access are the indicators of a surefire scam and all of these indicators lit up one by one while going through Stern Options scam complaints.

    Mentioning the amount of money people lost on this website, or going deeper into the details will do nothing but annoy you at the lack of common sense among all those traders who suffered at the hands of these modern-day pirates.

    Stern Options Withdrawal

    Stern Options didn’t impose a limit for the minimum withdrawal. It offered Wire Transfer, Credit Card, and Skrill as the withdrawal methods.
    The withdrawal took up to 7 days (as promised) but took much longer in reality in addition to a constant mental fatigue caused by the company’s reps.
    Stern Options also required documents to verify the identity of the client before initiating the withdrawal process.

    Is Stern Options a Scam?

    Needless to say, Stern Options was a SCAM for all the bad reasons mentioned in each of the above-listed sections. We know, for most of you it’s nothing but a formality, but we still want to keep reminding you about the importance of a proper registration. Only a registered broker is recommended because you can claim your money through legal procedure if something unexpected happens. We haven’t seen a case where a registered broker ran away like all of these unregulated brokers.

    Our Verdict on Stern Options

    Stay away from Cold Callers! That’s our verdict because we are tired of naming these scammers all day over and again. Whatever the name is, the fact is that these criminals return with the new name so let’s generalize our recommendation by concluding that you need to turn a deaf year to each and every cold call, advisor, or financial expert trying to encourage you to invest with anything that is not registered by the regulatory authorities.

    Get Your Money Back From Stern Options

    Have you already lost money to Stern Options before finding our review? Don’t worry, we obviously appreciate that it is not an ideal situation but you have landed in the right place because our free money reclaim guide can help you get it back.

    To date the guide has helped thousands of people recover money from binary options scams and we know that if you have lost money to Stern Options that it can also help you too.

    Like we say the guide is entirely free & it outlines the exact steps you need to take. You can get access to it right now by clicking here so we highly suggest you check it out if you have indeed already lost money.

    A SAFE Way To Make Money Online

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    Stern Options Review

    Stern Options was an unlicensed binary options broker that opened in July 2020, and is now closed.

    SternOptions was owned by BP1 LP, which is located at: 5th and 6th Floors, Landmark Building, 14 Tsar Osvoboditel Blvd., Sofia, Bulgaria. Phone number in the United Kingdom: +44 800 086 9172, and email address is [email protected]

    Complaints about brokers can be read here.

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    Stern Options Review

    Stern Options just like many other binary option broker is using the SpotOption trading software. Investors can trading a variety of option types including; High Speed Trading, Pairs, One Touch, High Low and CFD’s on Forex. There are over 180 assets available, include all popular Forex pairs, commodities, metals, market indexes and stocks.

    The minimum trade size ranges from $5 to $25, depending on the type of option. Minimum deposit for a new account is $250.

    NO License & Regulation

    When the Scam Broker Investigator reviews and compares a binary options brokers, we check for a local license to see if they are a scam or a real broker. Most licensed broker are licensed by CySEC in Europe or from ASIC in Australia.

    Stern Options is not a licensed broker. FCA WARNING! Stern Options is not authorised by the FCA, but has been targeting people in the UK, continue reading.

    We only recommend that you trade with a licensed binary options broker. For an updated list of the most popular brokers among traders, look here.

    Australia ASIC Warning!

    “ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”

    Are you currently using the broker Stern Options? Please share your feedback with other traders in the comment section below.

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