Stern Options Binary Broker Review

Stern Options is a very peculiar binary option operator, we don’t exactly know how to properly appraise for the time being. The main reason is that the operation is so new, it has barely shown us and the community anything. Launched in the summer of 2016, the operation is a toddler compared to some of the more established industry participants. Its minimums on deposits and trades aren’t particularly attractive either, which is quite surprising for a new broker looking to gain a foothold on the market.

To make things even more complicated, for the time being, Stern Options are unregulated and without a license. While usually we preach a zero-tolerance policy toward unregulated operators, in this case, we cannot firmly stick to those guns. The operation is indeed so new, that it might now be in the process of obtaining a license somewhere. Their About Us section isn’t of much use though. It is full of generalizations and pretentious slang, extolling the virtues of the team behind the operation and of the platform. Nothing specific is shared in any way though. The Stern Options site also says that the operation already has thousands upon thousands of institutional and retail investors, and that their trading platform is a marvel of modern technology. Just to make it clear: we’re talking about the SpotOption platform here. There is no demo account offered currently. When we asked them about it, they said that “a demo account is not a necessary feature of the Stern service as our Trading Academy is comprehensive enough.”

The company behind the operation is apparently BP1 LP and it’s based in Glasgow, Scotland. According to other sources though, only their support center is located there. The actual operation is based in the Commonwealth of Dominica, and the company pulling the strings in the background is GUM Ltd.

The community-buzz regarding this broker is extremely difficult to assess, because at this stage, it’s quite non-existent. Although nowhere is this specifically stated, we were able to find out that they accept traders mainly from Austria, Ireland, Norway, Singapore, Sweden, Switzerland, United Kingdom, Denmark, Finland, Malaysia, New Zealand and Germany.

Stern Options Platform

As said above, the Stern Options platform is the popular SpotOption one. While there’s nothing truly outstanding about it – given the fact that the overwhelming majority of the binary options industry uses it – the latest version of the SpotOption platform is indeed a very solid and capable piece of binary option engineering. In this instance, the trading tools it brings to the table aren’t particularly impressive though. There is a sort of market-sentiment indicator below each trade, to give traders an idea which way the majority of their peers are leaning. This is hardly something to trade by over the long run though.

Stern Options - The Platform
Stern Options’ Trading Platform

Trading off the charts isn’t available at the site and there is no charting package or streaming news feed. One-click trading on the other hand is available and so are email and mobile alerts. As said at the beginning of this Stern Options review, the operator doesn’t seem keen on communicating many details regarding anything at its site. Yes, this includes the platform as well. While we all have a pretty good understanding of what a SpotOption platform is capable, we don’t gain any insights into customization and special features. It is probably safe to assume that there aren’t any such features. Double-up, early Sell and Rollover options are available for most of the option-types featured.

Stern Options Trade Types

As said above, the Spot Option platform performs well speed and stability-wise. It offers traders a great variety of option types as well. Classic Put/Call binary options are available, with expiry times from 16 to 20 minutes. There’s pairs trading as well, with similar expiry times. We have long term options next, the expiry times of which can cover more than a month. 60 second options are the fastest financial instruments supported by Stern Options. In this category, we have options with expiry times of 90,120, 180 and 300 seconds, too. The selection is rounded out by One Touch Options (of which sometimes there’s a shortage) and Ladder Options. In addition to all the above, there’s Limit Trading available too, together with Spot Follow and FX/CFDs. The Spot Follow feature is essentially about copy-trading and as such, it is always a welcome addition.

Stern Options Underlying Assets

The underlying asset selection is great at Stern Options. All the major currency pairs, stocks, indices and commodities are covered. The currency selection doesn’t stop at the most popular pairs either. More exotic pairs, like the USD/ZAR and the USD/TRY are also covered. Altogether, there are currently 12 currency pairs covered. The stocks are numerous too, but they don’t go overboard in this respect. There are no fewer than 7 commodities though, including sugar, wheat and coffee. The indices selection covers some 19 indices, from the most popular, to outliers like the Saudi TADAWUL and the Turkish ISE-30.

One has to remember that despite not being regulated (as mentioned at the beginning of this Stern Options review), Stern Options works according to a single market-maker model. That means that the broker is the one who provides all the pricing on the above said assets.

Stern Options Returns

On most option-types, Stern Options offer returns in the 70-85% range, which is quite industry-standard. For ladder options, the returns can be as high as 500%.

The Stern Options Educational Center

Stern Options have their own education center, which includes a Trading Academy. This Academy delivers a bevy of information in various formats. They have a video library, as well as e-Courses on advanced binary option trading concepts as well as strategies. The platform is covered by a number of tutorials too, and there are no fewer than three eBooks on offer, covering the platform, as well as binary options. An Economic Calendar is available too. It can indeed be a superb tool for fundamental analysis. The problem with the whole package is that it’s only available to those who have an account with the operator and are signed in. Free accounts can always be opened though, with minimum hassle. Account Managers are made available as well, to discuss the various concepts covered by the Trading Academy and to actually help traders with their trades.

A Demo Tour is also available for beginners. This is essentially a ~2-minute long YouTube video, which covers some general issues tied to binary options and the Stern Options platform.

The Stern Options Calculator

Interestingly, the Stern Option Calculator isn’t included in the Education section of the site, but it is available nonetheless and it’s quite possibly the handiest trading tool of the Stern suite. The Calculator is all about technical analysis. To give traders a deeper understanding of why an asset-price evolves the way it does (and thus to endow them with better foresight) the Calculator uses three technical indicators. The Bollinger Bands, the RSI (Relative Strength Index) and the Moving Average are indeed the most popular technical analysis tools. The site also offers detailed explanations regarding the way these three indicators work.

Stern Options Minimums

As stated in the opening of this Stern Options review, the broker doesn’t exactly dazzle minimums-wise. The minimum requirement on deposits is an industry-standard $250, while the minimums on single trades range from $5 to $25, depending on the type of option one chooses.

Stern Options Banking

Apparently, Stern Options only accept deposits made via Credit Cards and Wire Transfers. The accepted credit cards are VISA, Delta, Mastercard, Diners, Solo, Visa Electron and Maestro. For wire transfers, traders will actually have to contact Stern Options, for instructions on how to make the transfer and to what account.

Fund withdrawals are subject the site’s KYC policies, which means that traders will be required to provide a slew of documents. That means government-issued ID, utility bills, account numbers, credit card copies, as well as voice-signature. Processing fees amounting to $15 on Wire Withdrawals and 3.5% on Credit Card Withdrawals shall also be applied.

Stern Options Support

The Stern Options support is eager, competent and is provided in multiple languages. The support staff can be reached through a variety of department-specific email addresses, like support@starnoptions.com and compliance@sternoptions.com. There are a number of local telephone numbers available too. +44 (131) 608-0954 for Scotland, +44 (203) 769-7123 for the UK, where there’s a toll-free number available as well: +44 (800) 086-9172. Toll-free support is available in Germany too (+49 (800) 589-2703) while additional phone numbers can be called from Saudi Arabia (+966 (11) 510-8734), Switzerland (+41 (43) 508-6306), Austria (+43 (720) 775-114) and Australia (+61 (87) 070-6131).

The Stern Options site is currently available in English and German.

Stern Options Review Conclusion

As said before, Stern Options is just too young to have generated a proper reaction from the trading community. What is certain though is that we’re looking at an operation featuring a good trading platform, some decent and simple trading tools, and some rather lackluster minimums. Their withdrawal requirements. Their KYC policy and service is described as second to none and not sloppy because it combines an email service and an online upload service. They have certainly invested great deal into their services.

Feedback from Stern Options traders will be highly appreciated! Please feel free to leave a comment below.

Stern Options Specs

Broker name Stern Options
Jurisdiction Commonwealth of Dominica
Regulated No
Launched in 2016
Website URL Sternoptions.com
Trading platform Proprietary
Support support@sternoptions.com, email form, toll free phone.
Trader Demographics  Stern Options are only interested in serious investors, not players.
App compatibility Android, Windows, Mac, Linux
Minimum required deposit $250
Minimum trade amount $5-$25
Customer service Eager to assist, available 24/7.
Mobile trading Yes
Bonuses No
Demo Account No

Here’s where you can learn about our recommended binary options brokers.

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34 comments

    1. Auto trading is the problem, but it doesn’t say anything about the broker. I would like to know if people had any issues with withdrawing, reaching support, etc.

      1. I deposited US$500 3 weeks ago and when I was asked to sign an agreement which state that bonus cannot be withdrawn under certain conditions I decided to withdraw my deposit. That is when the problem started. They simply refused to return my money. They wanted to talk with me. I did not want the talk. I wanted my money back. They still refused to return my deposit till today.

  1. Pls keep away from broker Optionbit, they scammed me. I joined them to trade with Swarm intelligence but they never let me.
    Now I’m not getting any response from their support.

  2. Stern option is not a good broker I’m with them now using with Wall Street focus group platform. I m using the invest.com to compare as and when do my trading. The best part is when I won but it shows I lost. This is bull shit broker and part of invest is just gone with no news. I will send my calculation records soon to this broker for the explanation.

    1. Me too brother.may be snapcash is a scam too.I lost all my money in short time moreover after following the economic calender.All sorts of trading discipline but still I lost and someone was trading behind my back.seriously loosing.

  3. Stay away from stern options.
    I deposited £250 and traded my self.
    After two days i see my account at zero.
    Sent them emails. They told me I never deposited!
    Sent them a proof of deposit and it’s two weeks since and no progress.
    KEEP AWAY

  4. I’m still with them and my $ is draining too furthermore not tele with invest.com the call and put is not tele at all bullshit idiot. Soon I will bring this to FPA for further action.

  5. Quick update:
    KEEP AWAY from stern options,
    Finely got an email from stern option after two weeks that says, I never deposited and the proof I sent from my bank is not a proof because some other companies using the same processor they use, and therefore I deposited to other place, not to them.

    They did not answer how do I traded, and what with my deposit ID ticket from them.

    Admins please help

  6. I have a comment about CTOption because a few days ago you said it’s a good broker. With my experience it is far away from that statement. I had an account with them with 250€ at the beginning and people call to add more and I did until 1500€. With the help of Nicolas my account climb to 7500€. And then suddently without any explanation within a night I loss 4800€ without any explanation. Not possible to reach somebody including thru all support and compliance, nobody to answer. I still have this account with 50€, I loss almost all my money without any explanation.

    1. Hi just opened an account with stern options and they are calling me 5 times a day haven’t founded my account yet because i have been scammed 2 times so i done my research on them read all reviews and yours is very interesting. anyway in your honest opinion is to stay the fuck away from stern options not to found the account because il be in for a scam pl reply

  7. I dealt with Joe Ryan and he is a cheater. I am new to Binary Trading so I just deposited $250 but he insisted me to deposit more and promised that will not use my deposit for trading. Then He claimed I have to take up their bonus which is compulsory in order to start trading. I took the bonus but he kept asking for more deposit from me and kept increasing the bonus, In the end, all the trades he invested for me failed. Without an explanation, another broker Nikos Galo take over my account. He is the same as Joe Ryan, made me lose all my money. I requested to close my account but they rejected due to the bonus volume I have to pay up which is 27 times of the bonus, more than $400k. I invested on the trades recommended by the brokers but I have to bear all losses, this is just plain cheating.

  8. Mine is also from UK. Last contact around end December, his colleague Nikos Galo informed me that he will take over my account in early January 2017.

  9. I opened an account with sternoptions through snapcash software but I lost all my money.I could find excuted trades every morning without my knowledge.when you ask them,they say that it’s me who signed for autotrader.
    But snapcash can’t trade without being switched on [autotrader].they became rude on me after I insisted in knowing the person excuting trades without my consent.
    All they say is that it’s me who signed for a auto trader software as if I don’t know how snapcash operates.
    I traded only three times with snapcash on sternoption platform after I got discouraged since I couldn’t trade one account at a time with someone behind the curtains.
    worst of all I find trades excuted outside trading hours.90% of the trades excuted are lost.i cant believe that this is how snapcash perfomes .if so then snapcash software is a total scam too.
    My account is left with $55 dollars and am waiting for the day it will get drained by unknown trader whom sternoptions denied.
    Surprisingly my auto trader has been off eversince I stopped trading but everyday you find loosing trades being excuted by unknown person!!!!
    Stay away from sternoptions.it’s a total scam .
    Another challenge is that even if you raise complaint to snapcash ,they don’t respond.as if they conive with those scam brokers to robe peoples hard earned cash.
    Stay away please

  10. Having now amicably resolved my problems with Stern I should be grateful if you would remove all of my previous comments.

  11. I got Stern Options as my assigned broker when I tried to sign up to Mike’s Autotrader in 2016. I had never heard about that broker before, but the initial reviews I saw were quite positive.

    The first thing that happened was that I never saw a glimpse of the autotrader. Has anyone ever succeeded to use Mike’s Autotrader with that broker?

    The second issue was that my telephone never stopped ringing. Stern Options wanted me to deposit more funds, accept bonuses and let them trade for me. Much alike BDB and the tons of scam brokers there are around.

    The third issue was that their expiry times and available assets didn’t match the signals of Mike Freeman’s manual group very well. I almost began to believe that there could be one among our ten thousand members, who continuously reported the signals to Stern Options so they could instantly mess up the assets. As an average retail trader loses his/her deposit, this trader is the client that the brokers prefer to have. Accidentally, Stern Options had received clients via Mike’s sphere. It’s not good by any means for a new and tiny brokerage to have clients that actually could happen to make money.
    OK, I know this is not the case. The truth might be that Stern’s menu of assets and expiries just isn’t as well-equipped as it first looks like.

    I really appreciate the review, but there is one thing I had wished to read more about: the CFDs. Isn’t it quite unique that binary options brokers provide CFD trading on their binary platform, for the standard account? How well does it work out, in comparison with forex brokers?

  12. Hi my dad has just lodged a lot of money with stern options he is apparently trading agains gold sliver and another one not exactly sure nikos galos is constantly on the phone to him I know this company is dodgy. I haven’t a clue myself about stocks and shares but when my dad showed me this evening that he is up over 3000 euros but things could change up to the 12th of may next month I just have a bad feeling he doesn’t know much about trading but this guy has him reeled in how do I get him out of this now before he loses thousands of euros
    Concerned daughter

  13. Never trade with Stern Options. They ask you to sign some legal documents which prevents you from ever taking out your capital. I was assigned to them and trader named Sean Zen. They used hard sell methods. Trouble started when I wanted to stop and withdraw. They became rude, shouted at me and used even more hard sell. Got a measly return and never got to see my capital invested ever again. Stay away from them if you really want to see your money again

  14. I opened an account with them on 26th April. After deposited my money, I realised that they are unlicensed. When I requested for withdrawal, the broker called me and try to talk me out of it. I am still awaiting the reply from their compliance regarding On my withdrawal. Could you advice me on what I can do?

  15. I lost my money with Stern Option. They never replay a email and they can’t be reached by phone. Keep away of this broker.

  16. SCAM COMPANY! DO NOT TRUST Stern Options! They are liars and crooks! They take your money and refuse to return it back! Honestly they are the worst company I have ever dealt with. You cannot get through to anyone on the phones and the contact details they email you so not work! Once they persuade you to part wth your money that’s it .. no further contact! ABSOLUTE CROOKS! I am still trying to get my money and I am
    Having to take matters further legally! Disgusted that a company can get away with ripping people off like this! PLEASE PASS THIS ON AND DO NOT BELIEVE A WORD THEY SAY!

  17. Just an update so far they are trying to get more money from my dad he keeps telling them he doesn’t have anyore money to invest considering he invested 9000 euros he should have had a payout on the 12th of may but as you know being the crooks they are they have told him it’s going to be October he will never see that money again

  18. Stern Options are a lying cheating company. You get involved with their trading during which you lose a lot of your money. If you then ignore the phone calls of which there must be 20 or 30 numbers which when called are listed as incorrect number called. Start trading with your own knowledge and risk, when you start to make money suddenly it starts to disappear from your account. The amounts of stolen and lost trading monies are £1450 at a time. This tells me, as it was the first amount lost, that a scam is added to your account and they just keep stealing your money. I am currently compiling a dossier with screen shots and information with regard to my losses and passing it to The Financial Control Agency to try and stop these people scamming the venerable people they are targeting.

  19. Signed up today with STERN OPTIONS’ Rihanna Martin, and then unfortunately read some of these comments.
    Tried calling back to number shown on my mobile phone but the number was “no longer in service”
    Tried their customer service which was so helpful before they got my money BUT after they got my money, “JACK DAVIS” ,is it his real name?, just gave me the run around. So far, no email replies so am going to my bank to see if they can do anything. Situation does not look good!
    What I have learned from this: Ask whoever contacts you to give you their number so you can call them back! If you cannot call the person who contacted you back directly, then forget it!

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