UK’s financial markets and services provider, the Financial Conduct Authority (FCA) has published a warning against the Stern Options binary options broker.
In its publication, the FCA notes it believes that the broker has been providing financial services or products in the UK without its authorization, which is required for such types of services.
According to its site, the company is based in Sofia, Bulgaria and has “a large following of loyal institutional customers and private clients who have already discovered how easy, rewarding and successful trading can be, especially when you count on Stern to take care of everything else.”
According to client reviews on its Facebook page, however, Stern Options is a scam and is actually the good old scammer RBOptions, but with a new name. Some unhappy clients claim the money was used to fund terrorism and the company was based in the Middle East. Others claim they were directed to the broker by a trading robot, lost all their money, but their phone calls and emails don’t go through.
Our check revealed that there have been no recent warnings against Stern Options, but judging by the number of angry comments on its FB page, it is only a matter of time, before they start pouring in.