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 2016, 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.
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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.
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.
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.
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.
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 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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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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