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• Our Review Method

• Is Stern Markets Scam or Legit Broker?

• What is Stern Markets?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Stern Markets due to the issues we've identified.

Is Stern Markets Scam or Legit Broker? ▲

Upon close inspection, Stern Markets emerges as a Forex broker fraught with concerns, predominantly due to its lack of licensure from any globally recognized Forex regulatory body. This glaring omission places it squarely in the category of potentially fraudulent entities, given it has not undergone the requisite regulatory compliance checks prior to its establishment. Consequently, it operates without any oversight, leaving it free to conduct its business in any manner it sees fit. This operational freedom, while potentially appealing on the surface, masks a highly precarious trading environment fraught with risk.

Stern Markets, a trading name under which GUM Ltd. operates, is based in the Marshall Islands, a location that further exacerbates the risk due to its offshore license status. The fact that GUM Ltd., also provides payment clearing and billing services for Stern Markets, does little to assuage concerns over the broker's legitimacy and safety.

What is Stern Markets? ▲

Stern Markets, also known under the moniker Stern Options, positions itself as a broker offering favorable trading conditions. Despite this, the broker's lack of serious regulatory oversight casts a long shadow over its operations, making it an unsafe choice for traders looking to safeguard their investments. In the realm of Forex trading, the security of funds is paramount, and Stern Markets' regulatory deficiencies put this at risk.

Further complicating its standing is Stern Markets’ provision of contact numbers located in the UK, Germany, and Austria, suggesting an attempt to target EU residents without the requisite authorization to operate within these jurisdictions. Compounding the issue, the broker's primary operations are based in Bulgaria, and it has attracted the negative attention of regulatory bodies such as the German Federal Financial Supervisory Authority, which has issued warnings against both Stern Markets and GUM Ltd.

Conclusion ▲

Given the myriad risks associated with Stern Markets, including its lack of proper regulatory oversight, suspicions of fraudulent activity, and operational base in a jurisdiction known for lax financial regulations, traders are advised to exercise extreme caution. It is vastly preferable to engage with brokers that are regulated by reputable authorities such as the UK’s Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). These regulatory bodies impose stringent requirements on brokers, including substantial capital holdings beyond client deposits, to ensure a higher degree of investor protection.

Our findings underscore the importance of conducting thorough due diligence before engaging with any Forex broker. In the case of Stern Markets, the presence of red flags, such as regulatory warnings and the absence of a functional website, further affirm our recommendation to avoid this broker and to remain vigilant against any future proposals it may offer.