CherryTrade

BrokerCherryTrade-logo
TRADECherryTrade
Founded2013
HeadquartersGibraltrar
Support Number+917-775-0324
Support TypesLive Chat, Phone, Contact Form, E-mail
LanguagesEnglish, Franch
Trading PlatformSpotOption
MIN deposit200$
Minimum Trade Amount 5$
Free Demo Account YES
RegulationNO
Number of Assets50
Account Types Basic, Professional, Expert, VIP, Corporate
Deposit methodsCredit or debit card, wire transfer, Skrill, CashU
Account Currency EUR, USD, GBP, JPY, CAD, AUD, RUB or SEK
US Traders AllowedYES
Overall Score5.2

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CherryTrade Review

Taking into consideration the fact that trade is the most impotant thing to them one who plans to open the account should be informed about every detail about the company. No one wants to invest money on the wrong place, does he? CherryTrade is a top of the line broker among the new age of SpotOption powered platforms. As such, it offers a full line of assets, a complete array of trading tools and a wide range of expiry. In terms of trading, CherryTrade is indeed on the top of cream. Time will tell if they’ll become a trustworthy broker as well. Putting aside our honest superlatives to SpotOption brokers abilities; this line of brokers also includes many brokers whose only goal is to collect deposits as long as they could. Such brokers have given SpotOption a somewhat tarnished reputation among traders but one largely undeserved. The platform is great and the trading is great; yet nothing to brag about here.

Should I open an account in CherryTrade?

It seems that this would be the first company that cares about the clients not just taking their money. SpotOption has been the main and the most appropriate platform and now it is time for something new and maybe better to be tried. CherryTrade means banking through credit cards and wire transfers. When we talk about minimum deposit and withdrawal, the situation is similar to the other companies. The minimum deposit would be 200$ and the minimum withdrawal is 100$, which is free if made to a credit card but it is paid 30$ by wire transfers. Bonuses depend on the deposit size and withdrawal cannot be made until the bonus is achieved. The standard trade volume requirement is 30x deposit, but everyone should check his rep to see his own terms.  A variety of expiry ranges is also a good side of this company. The short expiry times start from even 30 seconds  to one hours, while the long ones are as long as 9 months. Many other tools such asOne Touch, Pairs, iFollow options, Ladder are there to serve the customer with all their pros. One touch options trade after hours and on weekends, require the asset to touch above the target price only once and pay one of the highest returns. Ladder options combine binary trading with set strike prices and pay higher returns for out of the money trades. Finally, iFollow is the SpotOption solution to copy trading and one of the leading forms of copy trading available.

Complaints on CherryTrade

The research about comments and complaints can be done at home by searching for BinaryOptionsThatSuck.com. There, you will find everything needed. Due to the fact that the company is pretty young, not many comments and even less complaints on their work can be found, but it is going to be changed soon, supposedly. What can be found out from the other traders is that this company is paying withdrawals as long as someone handles the account properly and follows the bonus terms.

Bonus Offered By CherryTrade

As far as bonuses are concerned, they can be achieved and they would come with the standard trade volume minimum of 30 times the bonus. When the account is opened, the bonus will depend on the deposit given to a company.

CherryTrade Money Withdrawal

It can be done via credit card or wire transfer. They don’t yet have eWallet, the only thing I don’t like about them. Withdrawal to CC is free but limited to the initial deposit amount. 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 week.

CherryTrade Ratings

User-friendliness 8/10

This may be the first broker to receive the 10/10 rating from me. There are some things they could work on, getting Skrill for example, but the broker itself is top notch and very easy to use. The platform is easy to navigate, the options and trading easy to understand and the experience quite enjoyable. Only 2 languages are available, which cannot be seen as good and has to be improved in short period of time.

Assets  8/10

CheeryTrade really does have a great array of expiry and assets, more than enough to meet any trader’s needs regardless of asset class. Expiries are among the best available ranging from 30 seconds to 9 months on the top traded assets.

Commissions, Support and Effective Return 5/10

One of the best things about this is that there is no commission like everywhere else.Since they want the customers to be satisfied, many educational tools and video courses are available. Effective returns are at 81% ,  which is average, but more reliable.

Deposit and bonuses 5/10

As everywhere else, minimum deposit is 200$ and withdrawal takes about 2 weeks to be done. The thing is that all this is limited to a credit card and wire transfer. This could be improved by adding Skrill or some other wallets, for example.

Extras 3/10

Since this is not the only place to find extra tools such as Roll Over, Extend, iFollow and many other, that is why 10/10 can and cannot be given. Otherwise, many convenient things are there.

Summary
Review Date
Reviewed Item
CherryTrade
Author Rating
2