CherryTrade Broker Review
CherryTrade offers professional market analysts that give traders one-on-one training sessions. Cherry Trade, widely recognized for an exceptional customer service is quickly becoming one of the preferred brokers among binary option traders. This binary options broker that offers the innovative Spot Option trading platform. This includes an intuitive and cutting edge trading platform, a vast selection of trading tools and services, competitive returns, superior customer support and service and much more.
CherryTrade.com is a sleek, user-friendly and exciting binary options broker that launched in 2013 in Gibraltar. They receive high grades for their outstanding customer service and educational programs. They are a serious broker that displays a concern and commitment to their traders. The many trading features offered on the Cherry Trade platform include 30 second, 60 second, 2 minute, long term, touch and Pair options. Ladder Options, a new and innovative way of trading was recently added.
Their goal is always to put their clients first, focusing intently on giving them the best experience possible with 24/07 live chat and multiple support numbers available for different countries. They offer a SSL Encrypted security system as well, so you know your hard-earned money is safe.
CherryTrade.com Review in Details
- Special Features: Classic Options, Ladder Options, Pair Trading, 60 Seconds, One Touch and Long Term
- Payout: Average is ~81% while Max is ~1,500%
- Transaction Requirements: $5 – $1,500
- Number of Assets: 162
- Customer Service Channels: Live Chat, Email and Telephone
- Languages Supported: English/Arabic
- Accepts U.S. Citizens: No
- Deposit: $200 – unlimited
- Demo Account: On Request upon opening trade account
- Trading Options: High/Low, Short Term Option, One Touch, Ladder Options, Long Term Options and iFollow
- Protected Investment: Upto 10%
- Welcome Bonus: Up to 100% for New Traders
- Mobile Trading Available: Yes
- Types of Assets Available: Currency Pairs, Stocks, Commodities, and Indices
- Resources Available: Video Training Library and eBook
Cherry Trade has an expert Team of financial traders and advisor’s, which has given them a cutting edge in providing services both for new traders as well as professional traders. New Traders are given support via their education centre and by having a dedicated Manager to the account, whilst professionals or more experienced traders can make use of the Professional Analysts at Cherry Trade and utilize their signal services. Cherry Trade offer a wide variety of products and options to trade.
Although Cherry Trade is not currently regulated in Europe, they have been adhering to strict Regulation Standards that are normally seen across the best of brokers. The minimum investment requirement is $200 and minimum trade is only $5. This is a huge advantage especially if you are new to the industry and don’t want to feel at risk of losing most of your money in only a few trades. But if you aren’t new to the industry and you like to test strategies then this broker is a great choice as well! In addition to the low risk, CherryTrade offers a captivating trading interface that is easy to manoeuvre and understand giving another reason for traders of all experience levels to join.
Cherry Trade offers 100+ assets in four markets that include currency pairs, indices commodities and the leading stock market names. Verification of Identity: Required. No withdrawals are allowed without verification of Identity. Bonus: 100% for Beginners: Word of warning. Read the fine lines when accepting bonus, and feel free to ask your dedicated Manager what the implications of accepting a Bonus are. Most Brokers will require a minimum volume of turnover before you can withdraw your profits. Ensure that you know whatthis turnover will be before committing to receipt of a bonus.
Cherry Trade Bonuses
Cherry Trade has a deposit bonus and other bonuses for current clients. The terms for each will vary from bonus to bonus but usually come with the standard trade volume minimum of 30 times the bonus. This is fair and below the average broker which will require 30 times bonus + the matching deposit amount. First time deposit bonuses vary according to your deposit amount.
Cherry Trade Withdrawals
Cherry Trade withdrawals can be made to credit card or by wire transfer. They don’t yet have eWallet, the only thing I don’t like about them. Wire transfers are unlimited but cost $30 each. Minimum withdrawal is $100 and cannot be made until the bonus terms have been met. Processing takes up to three business days and then an additional 7 business days to reach your account for a total up to two standard weeks.
Deposit, Payout and Bonuses
The minimum deposit is just USD $200 for the ” Classic Account “, ideal choice for beginners in the binary options trading. Cherry Trade is giving away up to 200% Welcome Bonus or Up to 10 Risk Free Trades in all first deposits. Redemption Criteria Applies – Speak to you Cherry Broker upon registration for further details.
Minimum deposit is average – 200. Cherry Trade does a good job with banking but I still think they could add Skrill or some other eWallet. Deposit is easy but limited to credit card or wire transfers. Withdrawals are made back to the original method and take about 2 weeks. Profits are only handled via wire transfer and takes up to 2 weeks. Bonuses are available and come with a standard volume minimum of 30 times the bonus amount, up to 100%.
Type of Accounts
You can choose 5 type of accounts depending on your investment 1) Basic ( Up to $1,000 ) 2) Professional (up to $5,000 ) 3) Expert (up to 10,000 ) 4) VIP ( up to 25,000 ) and 5) Corporate
Assets and Expiry time
CherryTrade include around 150 assets to trade ( indices, commodities, currencies and stocks ) . The trader can sell the options before they do expire. The early expiration may help to drive more profits by the use of the portfolio.
Their customer support is excellent. It’s available through the email so you have to send the form where you have to give your name, email, phone and the department you want to reach. The customer care can also be contacted via live chat or telephone. They provide a free personal account manager to all traders with a private skype room, weekly calls with no extra charge and free trading alerts.
In my opinion Cherry Trade is a great choice not only for its state of the spot option style trading platform but also for the free educational content it provides to all existing and new traders. If you are looking for a trust-worthy broker who works within the highest quality standards, CherryTrade is a great choice and we can recommend them for anyone who is interested to trade binary options.
For more options check out our Brokers Review