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Yet again we are going to review a binary options broker that is no more available. Stern Options had never been a user-friendly platform for various reasons. Firstly, the website featured just a couple of languages i.e. German and English. Even the German version was more of a Germ-Lish style with only a few German phrases surrounding by the English content…
Stern Options facilitated its clients with 19 stocks, 12 currency pairs, 19 indices, and 7 commodities. Again, a smaller basket was on offer as compared to that of the registered brokers. Moreover, there were differences between the website content and the services on offer.
The platform has already disappeared soon after the issuance of Stern Options scam warnings by regulatory authorities. But this review will give you a clear idea about how these scam artists use different techniques to fool their clients. Let see where the platform came from and who operated it.
This review is going to be quite lengthy as we conducted a thorough investigation into Stern Options & we appreciate you probably just came here looking for some specific information, so to make things easier for you we’ve put together some quick navigation links below:
- Stern Options Background
- Is Stern Options Regulated?
- Stern Options Complaints
- Stern Options Withdrawal
- Is Stern Options a Scam?
- Our Verdict on Stern Options
- Get Your Money Back From Stern Options
- A SAFE Way To Make Money Online
Stern Options Background
As mentioned before, Stern Options is no more available, the information about the platform is also not reliable. Different sources speculate different things. We have found that the platform’s own website mentioned BP1 LP as the owner of the Stern Options. No address was mentioned though!
Some external sources are convinced that the company’s address is 5th Floor, Landmark Building, 14 Tsar Osvoboditel Blvd., Sofia, Bulgaria. But there is another address mentioned by various sources i.e. 272 Bath Street, Glasgow, Scotland.
In addition, another source mentioned GUM Ltd. as the owner of Stern Options, operating from 3rd Floor C&H Towers, Great George Street, Roseau, Dominica.
This confusion has been the result of a frequent change of address and Companies House (UK) once mentioned the change of address but the platform’s website never mentioned anything.
Whatever the address was, it doesn’t mean anything at this stage. It was the responsibility of the clients creating their accounts to first question their support team, cold callers, or the reps about the absence of the company’s address on the website. We don’t know how these scam artists keep manipulating their client’s thought process. We have no idea of what goes in the client’s mind that restricts them to doubt such obvious blunders.
How on earth could you hand your money to someone who is not registered, doesn’t want to reveal his/her location or any other proof of his/her identity? How could we or anybody else guide such innocent individuals who don’t even care to check the details before investing their hard-earned money? It’s simply impossible! Everybody warns against unregulated brokers, even the regulatory authorities serve with repeated warnings, and we still see people being looted on regular basis. Is it sheer carelessness or just a blindfold administered by the greed of making quick money? Whatever it is, we can only pray that God keeps you safe from such illusions!
Is Stern Options Regulated?
Stern Options was NOT regulated under any authority. In fact, FMA and FCA issued warnings against this platform.
- The Financial Conduct Authority (FCA) UK warned people against Stern Options by claiming that the company’s reps have been found guilty of encouraging the British citizens to invest on their website (02-06-2017).
- The Financial Market Authority (FMA) NZ issued a warning that Stern Options reps have been cold calling to attract New Zealand residents (11-07-2017).
An obvious scam! There is nothing more to say because it makes us feel like narrating the same tale over and over only to witness that these scammers continue to successfully cheat on innocent citizens.
Stern Options Complaints
Withdrawal failure for unknown reasons, prolonged withdrawal processing, manipulation of the client’s account, leakage of the client’s personal information, and unauthorized to the client’s access are the indicators of a surefire scam and all of these indicators lit up one by one while going through Stern Options scam complaints.
Mentioning the amount of money people lost on this website, or going deeper into the details will do nothing but annoy you at the lack of common sense among all those traders who suffered at the hands of these modern-day pirates.
Stern Options Withdrawal
Stern Options didn’t impose a limit for the minimum withdrawal. It offered Wire Transfer, Credit Card, and Skrill as the withdrawal methods.
The withdrawal took up to 7 days (as promised) but took much longer in reality in addition to a constant mental fatigue caused by the company’s reps.
Stern Options also required documents to verify the identity of the client before initiating the withdrawal process.
Is Stern Options a Scam?
Needless to say, Stern Options was a SCAM for all the bad reasons mentioned in each of the above-listed sections. We know, for most of you it’s nothing but a formality, but we still want to keep reminding you about the importance of a proper registration. Only a registered broker is recommended because you can claim your money through legal procedure if something unexpected happens. We haven’t seen a case where a registered broker ran away like all of these unregulated brokers.
Our Verdict on Stern Options
Stay away from Cold Callers! That’s our verdict because we are tired of naming these scammers all day over and again. Whatever the name is, the fact is that these criminals return with the new name so let’s generalize our recommendation by concluding that you need to turn a deaf year to each and every cold call, advisor, or financial expert trying to encourage you to invest with anything that is not registered by the regulatory authorities.
Get Your Money Back From Stern Options
Have you already lost money to Stern Options before finding our review? Don’t worry, we obviously appreciate that it is not an ideal situation but you have landed in the right place because our free money reclaim guide can help you get it back.
To date the guide has helped thousands of people recover money from binary options scams and we know that if you have lost money to Stern Options that it can also help you too.
Like we say the guide is entirely free & it outlines the exact steps you need to take. You can get access to it right now by clicking here so we highly suggest you check it out if you have indeed already lost money.
A SAFE Way To Make Money Online
Hopefully you haven’t already lost money to Stern Options, but regardless we do not recommend Stern Options & so as a result you might now be wondering what is actually the best way to safely make money online…
For that reason we want to share with you our number 1 recommendation for working from home, which is the top rated program out of all of the programs that we’ve come across to date.
What’s more it’s totally free, and it doesn’t involved trading which means there is no risk involved. You can find out more about it & see exactly how it works by clicking the link below: