Stern Options Broker Review

Although Stern Options does claim to offer welcome bonuses to newly registered clients, it is not clear on the website the percentage which is on offer, however the broker’s trading software is advanced and user-friendly enough for beginners to understand. There are many different contact options for the customer support services, including multilingual operators and instant access methods.

Intro

Offering a cutting edge trading platform and high level security, Stern Options has a following of both private and institutional clients who use their brokerage services. Launched by a team with years of experience in the financial industry, this binary options broker uses strong SSL encryption technology to protect its clients’ financial transactions and has made the registration process a breeze for both novices and experienced traders alike.

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Company Information

Stern Options is owned and operated by a company called BP1 LP in Bulgaria and does not appear to be licensed or regulated by any known or recognised authority. Their services can be used by traders around the world with the exception of those based in France, Yemen, Iran, Syria, North Korea and Turkey.

Assets Available

Stern Options only offers around 50 assets for traders to select from.

Their list of assets includes:

Commodities: 7

Currencies: 12

Stocks: 19

Indices: 19

Bonuses & VIP Programs

Although the Stern Options website’s terms and conditions mention that welcome bonuses are on offer to newly registered clients, there is no further information about what this bonus may entail and how much you can expect to receive. There is, however, a condition that in order to withdraw profits traders must trade 30 times the value of their bonus amount. There does not appear to be any kind of VIP account for high volume traders through this broker.

Mobile

Stern Options have recognised that modern brokerage clients are keen to trade from their mobile devices while on the move instead of being tied to a PC. In order to harness the opportunity of trading the markets at a moment’s notice, they have therefore developed their own cutting edge mobile app which allows clients to immediately access their account from any place and at any time from their Android smartphone or tablet or their iOS device. The mobile app trading platform allows trading across all categories including stocks, currencies, indices and stocks and enables clients to access their trading history, charting tools and updated prices.

Deposits and Withdrawals

Stern Options offers a few different payment options to facilitate deposits and withdrawals. These include:

• Visa
• MasterCard
• Bank transfer
• Maestro
• Diner’s Club
• Skrill

The minimum deposit amount stands at $250/£250/250 Euros/$250 AUD with a maximum of $20,000/£20,000/20,000 Euros/$20,000 AUD per day by credit card or Skrill, although there is no maximum amount for bank transfers. The minimum withdrawal amount is $100/£100/100 Euros/$100 AUD and processing of withdrawal requests may take up to three working days, with payment being received within 7 working days. All withdrawals are subject to a fee which is as follows:

Credit Cards: 2.5%

Bank transfers: $20

Any withdrawal under £100/$100/100 EUR/$100 AUD via wire transfer or credit card also incurs a fee of $10.

Customer Support

Stern Options offers its clients a number of customer support contact methods including:

• Live Chat
• Email (3 email addresses for the Support, Marketing and Compliance teams)
• Telephone helplines
• Web Form

Customer support is available 24 hours a day from Monday to Friday and is multilingual, with phone numbers being provided for the following countries:

• Scotland
• UK
• Australia
• Austria
• Switzerland
• Germany
• Saudi Arabia

There is also a useful section of the website which relates to frequently asked questions offering basic quick responses to common queries.

Extra Features and Resources

Stern Options offers its own trading academy for clients free of charge. Here, you can gain access to a wealth of educational resources including courses and ebooks aimed at both novices and more experienced investors and covering a range of topics including market prediction, trend analysis and strategy fundamentals. There is also an up to date economic calendar to help to inform your trades.

Verdict

If you are interested in using Stern Options as your preferred binary options broker, you should note that there are both advantages and disadvantages to choosing to use their services:

Pros

• Cutting edge trading software that is suitable for use by both experienced and novice traders
• 100% online trading interface requiring no installations or downloads
• Instant customer support via the live chat facility
• Choice of customer service contact methods including email, web form, live chat and telephone helpline
• Mobile app for Android and iOS devices allowing trading on the move
• Multilingual website
• Multilingual customer support
• Free educational resources for clients at all levels of experience
• A choice of convenient deposit and withdrawal methods including Skrill
• 24 hour helplines from Monday to Friday
• Strong SSL encryption

Cons

• Traders from France, Yemen, Iran, Syria, North Korea and Turkey are not accepted
• Not regulated or licensed by any recognised authority
• Customer support helplines are not open at weekends

FAQ

Are my funds safe with Stern Options?

While Stern Options does not appear to be licensed or regulated by any recognised authority or body, they do offer strong SSL encryption across their website so that all financial transactions can be carried out safely without any concerns bout hacking or cybercrime.

Am I able to speak to a Stern Options representative straight away if I need to?

The Stern Options support team can be contacted via a number of convenient methods including web form, email, telephone and live chat. Their telephone helplines are based in several different countries and are multilingual to accommodate the needs of clients around the world. Their live chat facility also enables immediate contact with a representative in order to respond to urgent enquiries and issues that need addressing. Their customer support team are available 24 hours a day on weekdays, although no support is provided at weekends.

Can I trade with Stern Options with my mobile device?

Stern Options have developed mobile apps which can be used by Android or iOS device users to access their trading accounts, to execute trades and to check their trading history at any time and from any place in the world while on the move instead of being tied to their PCs.

Can I learn more about trading with Stern Options?

Stern Options know that their clients appreciate the opportunity to widen their knowledge of the financial markets and to learn more about the basics and more complex elements of investment. To that end, they have provided a helpful educational resources section of their website which contains video tutorials and ebooks on a range of helpful subjects. These courses are tailored to the needs of both beginner traders and those with more experience so that every client can maximise their earning potential free of charge.

Do I need to install any software?

The Stern Options trading interface is 100% web based, so there is no need to install or download any software to your PC or device. This means that the software is much more rapid and convenient to use. As the trading platform is entirely online, it can be accessed via any mobile enabled device including smartphones and tablets, from any place and at any time.

Which currencies can I use for trading with Stern Options?

When you register for a Stern Options trading account, you will need to choose the currency in which you intend to operate it. You have a choice between US Dollars, Pounds Sterling, Euros or Australian Dollars, however once you have made your decision you will be unable to switch to a different currency at a later date.

How do I register for a trading account with Stern Options?

This broker has made it very easy to register for a live trading account with them. Simply click on the “Accounts” link on the website’s main menu and then complete all of the required personal details. After you have submitted the form, you will then receive a welcome email inviting you to click on the link and verify your application. You will then be ready to deposit your initial funds and get trading straight away.

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