Cherry Trade.
Cherry Trade boasts of a rapidly growing presence in the industry mainly because of its emphasis on placing traders’ needs forefront. In this CherryTrade review, we have outlined some of the broker’s key features, which make its presence in the industry outstanding.
Regulation.
Even though we found out that Cherry Trade is not regulated by a notable authority like CySEC, we do not have any reason to consider the broker a scam. We searched various online forums and websites and failed to notice any significant negative feedback about the broker.
We only found positive reviews with several traders commending the broker for its excellent services. Therefore, we can affirm that CherryTrade enforces transparency in its dealings, and is not a scam broker. However, one major weakness we discovered during our CherryTrade review is that its regulation does not cover some parts of the world, and thus cannot accept clients or clients’ funds from those countries. Examples include the U.S., Belgium, Canada, United Kingdom, and Italy.
CherryTrade Trading Platform.
The broker provides a robust 100% web-based trading platform to allow traders benefit from binary options trading without the need of having to install any software. The platform is user-friendly with a nicely-designed interface, 123 binary options trading system ensuring fast and intuitive processes.
Cherry Trade also has a mobile trading platform, which you can download from either the Google Play Store or the Apple’s app store, and enjoy convenient trading on the go, without any access restrictions.
Worth mentioning, the platform has a comprehensive collection of resources and tools to make trading binary options fun, fulfilling, and profitable. For example, you’ll have access to real-time data delivered by Thomson Reuters to allow you make informed trade decisions.
If you are still not confident trading binary options on your own, you can use the innovative iFollow tool on the broker’s platform, and best forex indicator for binary options follow the trades of experienced traders. This way, you can make substantial profits without much sweat.
Assets and Payouts.
CherryTrade provides a wonderful collection of more than 80 assets, which have been handpicked from the best indices, currencies, commodities, and stocks.
For every trade that expires "in-the-money", CherryTrade offers 81% payouts. In addition, if you trade One Touch Options or Ladder options, you can earn lucrative payouts of as high as 550% and 1500% respectively.
In terms of expiries, the broker’s is among the best, ranging from short-term of 60 seconds to long-term of more than six months.
Interestingly, we noticed that CherryTrade allows traders to sell their options before expiry time elapse. With this exciting early expiration feature, you can greatly increase your profits when trading binary options.
Deposits and Withdrawals.
When carrying out the CherryTrade broker review, we were keen to find out the level of competence on handling client’s deposits and withdrawals.
We noticed the broker does not leave anything to chances: it has invested in advanced security protocols to guarantee the safety of its trading environment, particularly on clients’ funds.
After opening an account and submitting the required identity verification documents, you’ll have a wide array of secure methods to make your deposit, from eWallets to major credit cards to wire transfer—the choice will be on your hands. The minimum deposit required is 200 currency units (AUD, CAD, GBP, EUR, or USD).
For withdrawals, CherryTrade processes them without much hindrances—you just need to submit a request and your funds will be sent through your primary payment method as fast as possible.
Based on the amount of your deposit, the broker offers different account types, as outlined below.
Classic : The minimum deposit required is 200 currency units, and it comes with a welcome bonus of 20%. Pro : The minimum deposit required is 2500 currency units, and offers 35% welcome bonus. Gold : You need to make a minimum deposit of 6,500 currency units to get this account. It has 70% welcome bonus. VIP : The minimum deposit required is 50,000 currency units, and comes with 50% welcome bonus. Corporate : The minimum deposit required is 100,000 currency units. The welcome bonus is 30%.
Customer Service.
Customer service at CherryTrade is simply top-notch. The broker’s experienced customer service department can be reached via email, live chat, or phone from 6:00 — 21:00 GMT Sunday — Friday. To enable fast solving of issues, the broker also has international customer support phone numbers.
Since it’s committed to seeing traders’ excel, the broker has a learning center with huge collection of education materials in different languages. You’ll get e-books, signals, market analysis, and several other helpful resources to equip you with sufficient skills for successful trading.
Pros.
Committed to traders’ needs Reliable and trustworthy Robust web-based trading platform Mobile trading available Huge payouts Wide range of trading assets Secure and convenient payment methods Variety of account types Excellent customer service Comprehensive learning materials in different languages High bonuses offered Social trading available.
Cons.
No demo account Traders from some countries not allowed, including the U.S. and U.K. Relatively high minimum deposit requirement.
Conclusion.
Are you looking for a broker that strives to assist traders get the edge they need for trading binary options successfully? Are you looking for a broker that has invested in robust technologies to ensure traders enjoy transparent, secure, and reliable conditions? If you answered ‘yes’ to any of the above questions, then CherryTrade could best suit your needs, as illustrated in this review.