Cherry Trade Review
Up to 70%
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|Headquarters||The Financial Services Centre, Stoney Ground, Kingstown, Saint Vincent & the Grenadines|
|Support Types||Phone, Live Chat, E-mail|
|Maximum Trade Amount||$5,000|
|Free Demo Account|
|Deposit Methods||Maestro, Visa Electron, Visa, Delta, Diners Club, MasterCard, Maestro (Switch), Solo, Wire Transfer|
|Withdrawal Methods||Maestro, Visa Electron, Visa, Delta, Diners Club, MasterCard, Maestro (Switch), Solo, Wire Transfer|
|Expiry Times||From 30 minutes to 7 days.|
|Types of Assets||Currencies, Stocks, Commodities, Indices|
|Account Currency||EUR, USD, GBP, AUD, CAD|
|US Traders Allowed|
CherryTrade was established by a team of experts in risk management, derivatives, Forex, and international law in 2013. Since then, it has turned itself into one of the chief binary brokerages worldwide. As binary options continue to gain considerable ground in the online world, CherryTrade continues to be the go-to place and preferred investment vehicle for global traders.
It is also one of the few brokers that accepts U.S. based traders. It is not supervised by any regulator and it is located in Gibraltar, U.K. Payouts can reach up to 81%. The website of CherryTrade is provided in English and Arabic only and is outstandingly easy to use.
Five different trading accounts are available at CherryTrade. The Classic account needs a minimum deposit of $200. The Pro account’s minimum amount to start trading is $2,500, while for the Gold account that sum is minimum $6,500. VIP account holders can initiate their trades after they deposit at least $50,000. Corporate accounts are available only after the trader has deposited at least $100,000. A demo account is also available for initial trade practice.
Deposit and Withdrawal Options
Putting the utmost importance on security is one of CherryTrade’s leading principles. It is totally devoted to safeguarding personal details and the enterprise has invested significantly in acquiring the highest grade security protocols that are accessible on the internet.
Armed with them, the company may offer its avid investors a wide array of deposit and withdrawal options which comprise of Maestro, VISA Electron, Delta, VISA, Diners Club, MasterCard, Maestro (Switch), Solo, and Wire Transfer. Australian dollars, Euros, British pounds, Canadian dollars and U.S. dollars are CherryTrade’s supported currencies.
Attention: CherryTrade’s customers would be requested to submit several identity proofs before proceeding to making deposits and withdrawals.
The minimum sum for withdrawals is set to $100 while the maximum amount is capped at $20,000. Contact the company by phone or via e-mail should you desire to call off a withdrawal.
Many brokers nowadays only provide 60-second to 1-hour max options. CherryTrade, however, offers long-term options which are extremely useful and valuable for traders. These long-term options are available for purchase with dates of expiration that are between 24 hours and one full year. iFollow is one of the latest features on the broker’s platform and enables investors to follow the best trade performers. CherryTrade’s customers can trade commodities, currencies, stocks, and indices.
Several education instruments are accessible on CherryTrade’s website. Newly registered users are bestowed with a helpful eBook and a glossary of trade concepts. Next to educational videos, there are also a video training and live webinars where users are encouraged to take part. CherryTrade’s enthusiastic customers derive great benefit from Thomson-Reuters real-time data streams as well.
Daily and weekly analysis are also at traders’ disposal to keep them updated about the latest news and trends. However, the FAQ section and the glossary are a bit limited.
Customer service is reachable from Sunday to Friday between 6:00 am and 9:00 pm GMT. Next to the standard email, phone and chat assistance options, CherryTrade can also be found in social media channels including Twitter, Linkedin, Google+, and Facebook.
The welcome bonuses for the Classic, Pro, Gold, VIP, and Corporate accounts are 20%, 35%, 70%, 50%, and 30% respectively. While the Classic account is entitled a Junior Broker, the Pro and Gold accounts receive an Executive Broker, and the VIP and Corporate an Executive Broker and an Analyst. The Gold, VIP, and Corporate accounts also get 3, 5, and 10 risk-free trades. Every account is eligible for a different education level. Save for the Classic account, all others derive benefit from trading signals which, for the VIP and Corporate accounts, are personalized.Open an Account