5 Questions by BOTS.com, Stern Options Live Chat Support Representative Answers
SternOption: ”Hello! How may I help you?”
1. What Makes Stern Options Different Than Other Brokers? What are the advantages to trade with OptionWeb?
“… There are a number of offers at the moment, yes. However you would need to speak with an account manager to give you the specifics of them.
Have you registered for an account with us? The account is free and necessary for most of the program’s information …”
2. Do Stern Options Offer Binary Options Trading Education For Newbies?
“… Yes, absolutely. https://www.sternoptions.com/trading-academy/Trading Academy | Stern Binary OptionsWe at Stern strive to provide our traders with the means to quickly be “in the know”, giving them knowledge they can use when they trade through our academy …”
3. Is there any bonus program for new clients on SternOption? How big is the bonus wager?
“… Yes, there is a bonus program available to our clients. The Trading Volume Requirement (turnover) for any bonus are as follows – you must execute a total trading volume of at least twenty seven times (x27) of your allocated bonus amount, unless explicitly stated otherwise in the relevant supplemental Terms and Conditions. For example, if you receive a bonus worth £100, you will be required to accumulate a trading volume of £100 x 27 = £2700. Only fully settled trades (i.e. trades that result in a win or loss) will be counted towards the Trading Volume Requirement …”
4. What is the application process? What kind of documents do I need to provide to open an account with SternOption?
“… The following documents are needed to verify your account:
1. Identification (Passport or Driver’s License).
2. Proof of Address (either Utility Bill or Bank Statement no older than 3 months)
3. Credit Card or Debit Card copies of the card that was used to deposit. both sides (back and front) – *Please be sure that the first 6 digits and last 4 digits of your card number are visible. You may cover the middle digits of the card number. CVV number may be covered completely*
4. DOD – Declaration of deposit (sent by the compliance department)
documents are to be sent to the compliance department at email [email protected] – other documents may be requested by the compliance department subject to clients file status.
It usually takes a standard of up to 7 business days to process a withdrawal request …”
5. Do you offer demo accounts to your clients?
“… Unfortunately we don’t offer Demo Accounts, because we are a reputable firm and our accounts are designed for committed traders who want to maximize their profits. We have qualified Account Managers that will be happy to assist you with all your trading needs …”
My Overall Impression with SternOption Live Chat
The chat with SternOption representative was a usual chat like many other chats with other brokers. The answers were quick but not very in depth. For example on my first question – what they have special to offer the answer was that they have many offers right now but I have to speak with account manager to understand more about them. This is the usual reply when the representative can’t offer something in reality. The other answer I don’t liked as much was the answer to the question about demo accounts. The representative told me that they don’t offer demo because they are reputable firm. Why is that? Many reputable brokers offer demo accounts. That’s why for me this excuse is not acceptable. Nothing more to say here. The only sure thing is the broker really exists and at least their support is responsive.
Visit the Complete SternOption Review by Martin Kay.