Stern Markets is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes. This results in a very high risk trading opportunity, despite its alluring proposal.
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Stern Markets safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Stern Markets is a Forex and CFD broker owned and operated by GUM Ltd., based on the Marshall Islands. This company is also provides payment clearing and billing services for Stern Markets.
They provide British, German and Austrian phone numbers, which means the broker has been targeting EU residents without being authorized in those countries.
Although head office of the company is in Bulgaria. Moreover, the German Federal Financial Supervisory Authority has issued a warning against Stern Markets and GUM Ltd.
It is safer to trade with brokers regulated by UK’s FCA or Australia’s ASIC (Read about ASIC regulated Global Prime) instead. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. Check the list of the FCA-regulated brokers here.