Stern Options Review

Stern Options’ is a new binary options broker, established in 2016 and already making international headway as their company expands. Though unregulated, the company have a registered office address in Bulgaria, at 5th and 6th Floors, Landmark Building, 14 Tsar Osvoboditel Blvd, Sofia, 1000, and adhere to the corporate laws applied within the jurisdiction. As such, this broker is considered offshore and at present is permitted to accept traders from diverse regions, with the exception of the USA. Their customer care maintain phone lines in the UK, Australia, Austria, Switzerland, Germany and Saudi Arabia.
Stern Options differs from other binary brokers currently on the market for a couple of reasons. Firstly, the company promotes an all-inclusive account, starting all their clients out on the same footing. Secondly, this account is accessible from a starting deposit of $250 – a standard amount for an introductory account, often featured within a tiered classification system through other brokers. Lastly, Stern Options isn’t targeting the inexperienced everyman as part of their recruitment (not that they are excluding them either), choosing instead to seek out confident intermediary and advanced investors to make up their community. The broker provides an extensive body of research material and educational resources for their traders and assigns personal account managers / analysts to guide each client through the setting up of their account and general use of their services. There is an abundance of features waiting for clients on the platform with impressive payout rates – but no demo. This is an example of a broker that wants to support and enable competent, confident traders by providing a reliable and professional service.
 
Read on to discover more about Stern Options’ features and decide if it’s the right broker for you.
 

Trading Platform & Features

Stern Options chose to work with SpotOption for the development of their binary options trading platform. SpotOption combines a highly user friendly environment with the professional world of binary, allowing for multiple trading tool choices whilst maintaining a simplistic design. There are seven contract types available to you in this particular set-up; with expiry options ranging from 60 seconds to the end of the current year. Trade on pairs or CFDs, use one touch, ladder, binary or limit options, and even utilise their Spot Follow (social trading) feature. Each chart is presented with clear payout percentage and potential payout total listed alongside, with fast action call or put option buttons, for quick trade decisions. Along the bottom of your homepage, the platform shows a summary of your open positions and closed position history within particular contract categories, so that you may oversee your trades conveniently.

Spot Follow is Stern Options’ way of creating a community of traders from within its client network. You can use the feature to view the broker’s top rated traders according to profitability, success rate and popularity, using the system to set-up a follow option with limits for a desired period of time. Following a more experienced trader in this way, takes some of the responsibility of market analysis out of your hands and places it into the actions of a top Stern Options trader.

The Stern Options platform is accessible online through any browser. It is designed to adjust for mobile view, although apps are available for both Android and Apple devices.
 

Account Options & Payouts

There isn’t a system of account classification through Stern Options. To access the general live account you must deposit a minimum of $250 in either USD, GBP, EUR or AUD, and then select either a manual or automatic functioning account. As a trader at Stern, you will be eligible to receive support directly from an assigned account manager, who will talk you through your benefits, risks, platform function and any other questions you may have pending.

We feel that this broker is targeting the experienced trader demographic. Although beginners are obviously welcome, Stern Options seems to instill practices that do not best support industry novices; the minimum trade entry is $25 (even for 60 second trades) and there is no demo to test the waters, even after depositing. Risk management margins (or small percentage return guarantees) may be established for a fee, although such factors must be discussed with your account manager, who is designed to work for you to meet expectations and personal goals.

Payouts are variable according to the instrument and contract expiry selected, and vary from 70 – 85% for traditional binary options. There is further opportunity to exact larger payouts of up to 550% from One Touch Options – these payouts may adjust according to market volatility.

Traders Assets Tip: If you want to find out any specific account information ahead of depositing, register for free with the broker and await a phone call.
 

Banking Options

Stern Options recommends banking through your choice of credit or debit card for ease, although bank transfers are considered a viable option for the transfer of large sums. The broker adheres to the Know Your Client (KYC) policy for the safeguarding of your finances and will require you to submit documents to the compliance department in order to verify your identity and in turn, your account.

Deposits
Deposits start from $250, accepted in either USD, GBP, EUR or AUD. Acceptable credit/ debit cards are Visa, Mastercard, Diners, VIsa Electron, Maestro and Solo. Deposits made in this manner should see your account credited immediately or at least within a day. Bank transfers are also an option, however some banks take longer to send and receive funds than others, so it’s best to check with your branch for expected processing times.

Withdrawals
Withdrawals are subject to a looping system through which requests are processed back to the original deposit source. The optimal time frame for this service is 48 hours, although you may find yourself waiting up to 7 working days depending on the amount requested and the method chosen. Withdrawal fees are charged at a rate of 3.5% for credit cards and $20 per bank transfer.
 

Education Resources & Support

Stern Options’s tagline claims them to be binary options experts, priding themselves on their services and the level of education they can impart to their traders. A deeper education is valuable to long-lasting success, which is why we were impressed to see that Stern has In-Depth courses as well as introductory eBooks and videos to guide you with. Underneath the Education tab on their website, the broker has a drop-down menu with a Trading Academy featured. Within here, traders of all classification should find useful material for furthering their education in binary options, including lessons on economics, strategies, and further advanced subject matter. A platform introductory eBook and video tour is a useful addition to the list of resources, helping you to get to grips with the layout and practical elements of the platform.

Ahead of starting trading, Stern Options has provided a SpotOption platform demo tour that will give you an idea of what to expect (which we highly recommend to any novice trader). If necessary, further how-to videos for this platform type can be found on YouTube, or a quick Google search. In fact, Stern Options runs its own YouTube channel, featuring daily financial news updates and weekly market outlook summaries to help you stay on top of important financial events.

As standard, Stern Options is supported by a Live Chat facility. In this case, the chat box runs in English, 24/7, offering customer service with a pick up rate of under 30 seconds. The team are very knowledgeable in the business and its general services, and you should have no trouble in reaching a solution for any difficulties you may be experiencing. If you are the kind of person who prefers direct conversation, the team are able to offer you a call back request to speak with an account manager. Alternatively, there is a toll free line for the UK and Germany, or you could drop an email to a specific department.
 

Why Trade at Stern Options?

Stern Options is the ideal environment for intermediate to advanced binary options traders. The company are serious (as their name suggests) about binary options, education and profitable trade contracts, wanting you to be considered as a valued client. This is highly beneficial to those who are seeking a professional and dedicated broker to work for them. Stern Options’ accounts are all-inclusive and bespoke in the same instance, allowing traders to establish their requirements and boundaries through direct contact with an experienced analyst and account manager. The SpotOption platform works to suit a trader’s ambitions, ensuring that you have access to plenty of trading tools, contract options and assets required to build a worthy portfolio. The minimum trade entry is high but so too are the payout opportunities, so the risks can only be measured against your individual level of knowledge and confidence in the market.

We are happy to recommend Stern Options as a top binary options broker, rating them 3 out of 5 for their services.