Cherry Trade first made its way onto the binary options scene back in 2013. While it may appear to be a standard SpotOption white label broker, they have a lot to offer. With several excellent Features, and very positive reputation this is certainly one of the better brokers around.
The attractive and intuitive trading platform is incredibly user-friendly and will appeal to new and experienced traders alike. The app has been put together by an experienced team of professionals who specialize in everything from risk management to Forex trading, legislation and international laws. You can tell that the added experience has been put to good use, creating an excellent platform with a range of features, targeting a variety of users.
What they are also able to provide is excellent customer service. They put an emphasis on delivering an excellent trading experience for all, which means they are eager to offer assistance. With general help, advice, and in-depth training materials on hand, users can make the most of their experience so that they can get the most out of their trades.
Cherry Trade Special Features
One of the reasons that Cherry Trade has become so popular is thanks to the many unique features it offers. Let’s take a closer look at some of the essential details including the deposit and withdrawal terms, any pros, and cons to be aware of, types of options, and trade options. These details will help you to make an informed decision on whether or not this is the broker for you.
Here’s a bit of essential information about the company:
|Online Since :||2013|
|Official website :||www.cherrytrade.com|
|Trading platform :||SpotOption|
|Countries :||USA, Canada, UK, Australia, New Zealand, Belgium|
|Currencies :||USD, EUR, CAD, GBP, JPY, AUD, SEK, RUB|
|Minimum deposit :||$200|
|Deposit methods :||Debit or credit card, CashU, Skrill, Wire transfer|
|Minimum investment :||$5|
|Maximum investment :||$1000|
|Maximum returns :||85%|
|Match bonus :||Up to 100%|
What’s great about this software is that it offers you plenty of different currencies to choose from to deposit your money. It’s a great option for those of you that are Russian or Scandinavian since not many brokers out there offer RUB or SEK.
The minimum withdrawal is relatively small at $100, and while it will cost you $30 to withdraw by bank transfer, wire transfers under $500 are charged a $25 fee. All pretty standard for a binary options broker. One thing to note is you won’t be able to make a withdrawal until you meet the bonus terms. Bonuses will vary according to the amount you deposit, with the standard trade volume requirement being thirty times the deposit amount. You will want to make sure you check your terms with you rep first.
There are plenty of binary options available from the ladder to long term, pairs, high/low, one touch and 60 seconds. There are also plenty of things to trade, from currencies to commodities such as sugar, gold and coffee, and stocks including Nike, Apple, Tata Motors and BAE Systems, as well as indices such as DOW and DAX.
Account Types to Suit Different Users
One thing we like about this platform is the choice they have available. With five different account types targeted at newbies and experts alike, you don’t have to worry about having a lack of trading experience to get started.
Their account types now range from Classic to Corporate, so the next level up offers you the same features as the one before, plus something extra. Let’s take a closer look:
Classic: With a minimum deposit of $200, it offers a 20% welcome bonus and level 1 access to the education center. You can also see a daily and weekly review of the market, as provided by Cherry Trade.
Pro: The deposit minimum is $2,500 with a 35% welcome bonus. You receive one hour of basic one-on-one training, ideal if you’re just getting started. The pro account starts you off with general trading signals, and you get access to levels 1 and 2 of the education center.
Gold: This requires a deposit of $6,500 or more, with a 70% welcome bonus offer. You get three risk-free trades and three hours of advanced trading, ideal if you want to make the most of their experts.
VIP: A far larger deposit minimum at $50,000+, with a 50% welcome bonus. The account comes with five risk-free trades, and you get seven hours’ worth of one-on-one analyst sessions. You get personalized trading signals as well.
Corporate: The top level account requires a deposit of $100,000 minimum, with a 30% welcome bonus. You get access to ten risk-free trades, unlimited one-on-one analyst sessions and full access to the education center.
The one downside of this binary options broker is that it doesn’t offer a demo account. This fact will be a big detractor for some people out there, but it does have a lot going for it. The website is well-designed and easy to use, offering lots of flexibility, as well as educational resources and other added unique features.
Is Cherry Trade Legit?
The software has plenty of great features, and with so many fraudulent brokers on the market, it’s no surprise that people are asking, ‘is Cherry Trade a scam?’ While they may not be a regulated binary options broker, we can’t find any serious complaints or negative reviews that would have us believe they are a scam.
We have taken a close look specifically for this company to see if we can find a reason to be concerned. What we have come across is plenty of good reviews that would seem to indicate that they provide a reliable service that traders can trust. As far as we can tell, the company is paying withdrawals, so long as you handle the account properly and you follow the bonus terms.
To us, this looks like a top of the line broker with an excellent set of features that will appeal to many different users. With a solid reputation and a drive to set themselves apart from their competitors, we’re happy to recommend Cherry Trade.