SternOptions is broker that closed down.
The broker is in the ownership of the company named BP1 LP, Glasgow Scotland. They claim to have integrated cutting-edge technology and vast knowledge in their trading platform in order to provide the best possible trading experience.
SternOptions review will explain what accounts are provided by this broker, how does the platform look like, is customer support reliable and how are banking transactions executed. Read SternOptions review in the article that follows.
SternOptions Robot Trading Features
SternOptions has no clear information regarding their accounts that can be used for trading, even though there is a clearly visible Accounts tab on the SternOptions website. Traders who want to know more about accounts offered should ask customer support for additional information.
SternOptions review noticed that reaching out for support is the only way of finding out more about different features and benefits regarding SternOptions accounts. The only two information we got is that there is a VIP account that includes more benefits and that traders who decide for the basic account get a personal senior account manager who will assist traders every step of the way.
SternOptions also offers some bonuses, but traders are never obliged to accept them. The required trading volume with SternOption bonuses is x27. However, only high/low and long term trades are included in calculations of trading volume, which is somewhat unusual. Traders can also accept multiple bonuses, but in that case, SternOptions is first calculating trading volume for the first bonus and then the second. Please read terms and conditions before accepting the bonus.
Traders who make a deposit, also get an access to the economic calendar.
SternOptions Trading Software and Assets
SternOptions review showed that this broker is using SpotOption platform for binary options trading. SpotOption is very popular among brokers. SternOptions trading software requires no download, and traders can place trades from their browser, as long as they have an internet connection. They can any device available as long as they know their username and password.
Even though there is no SternOptions demo, the platform is clearly visible on the homepage where traders can easily see what is expecting them and figure out all tools and features available.
SternOptions has a great variety of binary options available, and traders can easily select the one the one they love the best. SternOptions binary options types are:
- Long term
- 60 seconds
- One touch
SternOptions also supports two additional features. One of them is SpotFollow that is a tool for copy trading, and another is Limits that allows executing trades when market conditions are compatible with trader’s wishes.
SternOptions also has many assets available: currencies, indices, stocks, and commodities. They are all easily managed from the navigation bar on the platform. There is also a special category for most popular assets.
Unfortunately, SternOptions review found no mentioning of mobile trading. This is a pity, as most of the traders nowadays prefer mobile trading that is easy, convenient and fun.
SternOptions supports auto trading with Fintech.
SternOptions Support and Services
SternOptions is a broker that takes great pride in their customer support. SternOptions review noted that there are three emails that can be used to reach this broker, depending on the inquiry related. There are also several phone numbers listed. Scotland, Germany, United Kingdom, Austria and Saudi Arabia numbers are all included on the list.
There is also an online form available, just like the live chat. Live chat agents replied very quickly but could provide more information than they do.
The website is available in English and German, but more languages would be more than welcome, as binary options are traded all over the world.
SternOptions review showed that they claim to take education very seriously. Traders who make a deposit can use trading academy, eBook, demo tour, glossary, and FAQ. More detailed educational materials would be great but this is also a good place to start. It is important to know how Educational section is fully available only for traders who make the minimum deposit, while FAQ is visible to everyone. This is relevant as FAQ provides some basic information on how SternOptions broker works.
SternOptions Withdrawals and Company Info
SternOptions is, as already noted, is in the ownership of the company named BP1 LP, Glasgow Scotland, but billing and clearing services can also be provided by CM SERVICES d.o.o, Montenegro. This is not a regulated binary broker.
Minimum deposit with SternOptions is $250, and the good news is that there is no lower limit on SternOptions minimum withdrawal. Traders can use bank wire and credit cards to manage their banking with SternOptions, but once the method is selected for depositing it also has to be used for withdrawing. Traders should definitely think about this before making a deposit.
All credit card withdrawals are charged with 3.5% fee, and wire transfer withdrawals with $20 fee. All withdrawals in the amount that is lower than $100, are charged $20 no matter the method or the amount.
This is somewhat unfriendly towards users who want to withdraw smaller amounts of money. The fees are mentioned only in terms and conditions, which is another reason traders should read them carefully before signing up with a broker. Monthly maintenance fee for dormant accounts in $25.