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Stern Options is one of the newer brokers on the market, founded just 6 months ago in mid-2016. It is owned and operated by GUM Limited, with addresses listed in Glasgow, Scotland and Sofia, Bulgaria. Read our full review below to find out if this broker is worth your time and money.
Stern Options returns range from 70-85%, quite standard in our opinion. However, the returns may go up to 500% for ladder options. The minimum deposit amount is the standard $250 while the minimum trade amount is just $5.
Unfortunately, there is no demo account available which is a shame as this is generally a good way to try out a broker without any risks.
However, the website does feature an extensive education centre, including a trading academy which comprises a video library, various e-courses and strategies as well as platform tutorials. This section is only accessible by account holders. Account managers are also available to lend a helping hand.
Stern Options also offers a Calculator tool which provides technical analysis using 3 different indicators: Bollinger Bands, RSI (Relative Strength Index) and the Moving Average. The site also gives detailed explanations as to how these work.
The broker offers a wide variety of assets, 200 in total, ranging from all the usual currencies, stocks, commodities and indexes to popular Forex pairs too.
Stern Options makes use of the popular web-based SpotOption trading software, used by the overwhelming majority of brokers. Thus, although it is a decent, dependable choice, there is nothing unique that makes it stand out from the rest.
They offer several different option types including short and long term options, Pairs, One Touch, Limit options as well as CFDs and Forex too. Finally, the Spot Follow type incorporates copy trading into the mix.
Traders may get in touch via email ([email protected]), by phone using one of the 7 local telephone numbers listed or via live chat.
As the website is available in both English and German, they provide a toll-free telephone number for both these countries.
There is also a form that can be filled out and submitted on their website for more general enquiries.
We attempted to contact a member of staff through live chat but were told that the agents were “not available right now” and instructed to leave a message and they would get back to us. This seemed a bit strange as the broker claims to offer 24/5 support and it was 20:30 on a Friday evening so there should have been someone available.
Deposits can be made through credit cards, Skrill or Wire transfer. The broker accepts most major card types but wire transfer is only accepted for amounts of over $500.
Withdrawals can be done via the above methods but we noted that a processing fee applies, although there is no minimum withdrawal amount. Traders will also be required to submit several personal documents as proof of identity before any withdrawals can be carried out.
Unfortunately, we discovered that Stern Options does not currently hold a valid license by any European regulator. This means that they are not regulated and therefore not under supervision by any appropriate financial authorities.
Browse through our regulated brokers section to find a broker with a proper license to put your mind at rest.
