Best Binary Options Broker 2020!
Perfect For Beginners!
Free Demo Account!
Free Trading Education!
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Good Choice For Experienced Traders! 2nd place in the ranking!
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CherryTrade is new to the market of online binary options trading platforms. One of the best characteristics of it is that CherryTrade uses the SpotOption software and offers 6 second options for traders including the USA.
Regarding the withdrawals, CherryTrade customers must submit the following documents: a photo ID, proof of address, along with a copy of the credit card if this was the choice of investment. The documents should be scanned and sent via email.
No fees are attached to credit card withdrawals at CherryTrade, but the withdrawals via bank transfer will require a processing fee of $30. Within up to 3 days, traders are able to get a feedback from the company regarding their withdrawal requests, and after the approval of each request, an additional 5 to 7 business days are necessary for receiving funds.
If the trader intends to withdraw via credit card, the same credit card needs to be provided for withdrawals. Have in mind that the maximum withdrawal amount of funds to a particular credit card can`t exceed the amount invested. All additional funds will be withdrawn through bank wire transfer.
In case of any doubts or problems, CherryTrade customer support is available through a simply accessible contact form, live chat on the site, or simply by phone. Their personnel will assist with any technical challenges or request for information about the markets, signals, and financial news.
CherryTrade Minimum Deposit
After tests done by us at FBO, we decided to include CherryTrade in our updated Binary options brokers review list, and we are very glad to say that the company has very efficient banking services and transferring money with them does not take a lot of time and energy, as we see some traders complaining about other brokers on the market.
Depositing with CherryTrade should not be a problem since the company offers many credit card and bank wire options. Visa, Delta, Diners, Maestro, MasterCard and Solo are just a few that can be chosen by users, and regarding bank wires, traders can also use their bank accounts for transfers. Another cheaper option is the e-wallet for those who are in favor of fast money transfer, although there is only the possibility to withdraw via credit card, or, in case it is above the initial amount deposited, the trader must use the wire transfer, likewise with any other broker.
A minimum deposit of $200 is required to open an account, along with the currency choice. However, if the trader would like to avoid paying fees with bank wire, the minimum transfer is $500. If traders want to do so, the first thing that is required is a data verification (photo ID, address confirmation, and a credit card scanned and sent to the accounting services of the company).
It takes around 3 days to process the request when withdrawing through bank wire, and between 5 and 7 days for the funds appear on the user’s account. Depending on the bank, it can be faster with credit cards, and the minimum withdrawal is $100. The banking service is pretty fast and straightforward, but the only problem is that the wire withdrawals are connected with fees, which means that there are no free of charge withdrawals via bank wire.
CherryTrade No Deposit Bonus
CherryTrade is leader on the binary options broker industry due to the high payout of 85%, especially on 30-second contracts, as well as the welcome bonuses provided when opening one of the five accounts the company offers.
Best Binary Options Broker 2020!
Perfect For Beginners!
Free Demo Account!
Free Trading Education!
Get Your Sign-Up Bonus Now!
Good Choice For Experienced Traders! 2nd place in the ranking!
Gaining popularity in the last decade, binary options trading is for sure the preferred choice of investment at this unstable market we see nowadays. Highly educated professionals with great experience in forex trading, risk management, derivatives and also international law and legislation make part of the selected team of CherryTrade.
The company works hard to ensure processes are simple and fast, and the interface is certainly very user-friendly. Also, CherryTrade offers a tremendous array of assets carefully selected from the best stocks, commodities, currencies, and indices.
Regarding the sign-up bonus (bonus you get when you sign-up and make a deposit on any account selected), CherryTrade offers five kinds, according to the account chosen. The Classic Account gives a sign-up bonus of up to 25%, and the trader needs to deposit between $200 and $499, and the Bronze account gives a bonus of up to 35%, with a minimum deposit of $500 and a maximum of $999.
The other three accounts (Silver, Gold, and Diamond) requires minimum deposits of $1000, 5000 and 10000, respectively, and the sign-up bonus corresponds to up to 50%, 75% and 100% for the Diamond Account.
Other great benefits such as daily and weekly market reviews, risk trades, free weekly calls and improvement sessions, auto trading signals, as well as insurance for any month that ends in a loss, free personal account manager and access to a private Skype room, free alerts on trades, technical and fundamental training sessions are given, according to the trader’s choice.
All the transactions (withdrawals, deposits, and portfolio) can be quickly seen and accessed in the section title “My account”. One more great thing: there is no need to install the software to trade with CherryTrade, and the platform can be accessed anywhere, anytime.
CherryTrade Review is one of those binary options brokers that are constantly in search for great advantages and promotions for their customers, either experienced or beginner ones. And, because of this, we decided that this company should be part of our respectful and detailed list of the best binary options brokers available on the market today.
You can see more details in our CherryTrade Review
In our CherryTrade review page, you will find detailed information about their special features and the five account types offered by CherryTrade and each of them has their own requirements and characteristics, according to trader’s needs and availability to invest.
The company is proud to say that they have one of the highest payouts of the market (85%) on 30-second contracts, one the most generous payouts in the industry. As everybody knows, the digital options (binary options) have continued to increase in popularity in the last years, and, following the needs of the markets, CherryTrade decided to create a strong group of professionals with great experience in forex trading, risk management, derivatives and also international legislation.
CherryTrade trading platform is 100% web-based and, because of this, traders do not have to download any software, making it easy to trade at any time, from anywhere. Also, you don’t need to have any previous trading experience to start trading with the platform, as great training materials to speed up your learning process are available.
The company has a great list of assets, including the best stocks, indices, commodities and currencies to trade. Their Affiliate Program, CherryRevenue, provides you a personal manager support for creative, optimization, tracking, payments and conversion. Regarding the timely payments, your affiliate commissions are sent by the 12th of every calendar month without fail. Their affiliates are just like the fuel that powers the binary options growth engine, and through personalized promotional materials, as well as detailed and innovative creative, Cherry Revenue has proven to be a very successful program.
One of the main commitments FBO has with traders is the fact that our users can surely have the opportunity to choose from a well-selected list of binary options brokers, and this can be done based on the readings of our full reviews. By doing this, we are providing traders with the assurance that the chosen broker is trustworthy and respectful, and the highest customer protection standards can be expected to happen.
And it is not different with CherryTrade, as traders can see the company is in compliance with FBO guidelines in relation to fairness and reliability. Offering various options and features to choose from, this broker has five account types to be selected according to trader’s preference. Besides, CherryTrade is committed to approach customers through personal service with training, general help and advice needed.
The company has an amazing trading software, the traditional graph-window system, which is run from the browser and performed pretty well even with the bad internet connection. With a very clear and understandable layout, users can see the settings on the top of the screen and the payout amount with return ratio on the side.
Regarding the five accounts offered, CherryTrade has some good features on each of them. The Classic account requires a minimum deposit of $200 and includes a welcome bonus of 25%, as well as daily and weekly market reviews. The Bronze one offers 35% welcome bonus and 20% deposit bonus, and a minimum deposit of $500 is necessary.
The Silver account requires a minimum deposit of $1000, and a 50% welcome bonus and four $50 risk-free trades, as well as auto-trading signals, are provided. The fourth type, the Gold account, starts with a minimum deposit of $5000, and 75% bonus is added on the initial deposit, as well as four $250 risk-free trades, a month of signals and a 10% monthly loss insurance, weekly technical analysis sessions and a personal account manager.
Finally, the Diamond account is for those traders who wish to receive 100% bonus and four $500 risk-free trades and 3 months of risk-free trades, and a minimum deposit of $10000 is necessary.
7 Binary Options
We have found out that CherryTrade has shut down their operations.
We recommend choosing one of our top binary option brokers instead:
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Try also Binary Option Robot if you are looking for automated binary trading.
We found CherryTrade to be a very interesting binary options trading broker. They had a lot of good things to offer their many traders and the overall quality of the website was good. They seemed to bring an easy to use platform to the trading table and strive to do it at a reasonable cost. This trading site has operated since 2020 out of Anguilla and has been steadily gaining in popularity ever since. Let’s take a look at CherryTrade a little more closely.
Online since: 2020
– Good variety of options
– No demo account
7 Binary Options Rating:
It seems to us that CherryTrade has plenty of trading options and they make it very easy to place trades based on those options. The options seem to run on some very sophisticated technologies which we think will give investors a good chance to profit by using their website. They have some excellent learning tools and the site seems to believe that knowledge is power when it comes to being successful at binary options trading. It also features a wide variety of account selections with some nice perks as you go up in level.
The bonuses that a trader gets with CherryTrade are not bad at all when you compare them to some other brokers. It all starts with a generous sign up bonus that the user gets when they make their initial deposit and complete a few trades. Like many brokers, the bonus increases based on the amount of your initial deposit, so the higher amount you deposit upon sign up, the more ‘free money’ you will get to trade with.
The minimum deposit on CherryTrade is $200 and a user must trade thirty times their initial deposit in order to withdraw any and or all of their bonus money. The max bonus payable is a nice $20,000. So make sure if you want to trade with them, you deposit as much as you can initially to take full advantage of the sign up bonus.
Maximum Profit (payout)
CherryTrade is also very fair when it comes to account payouts. As a matter of fact, returns on investment of around 85% are not uncommon for traders on the website. That allows all the users of the site to make some nice profit on the successful trades that they place.
They feature a very low minimum investment of $5 and a maximum investment of $1000; that makes it easy for an investor to trade an amount based on how strongly they feel about an asset trending in their preferred direction.
Types of accounts
When it comes to account variety, CherryTrade has an excellent list of choices and some unique features that come with each level account. The account level a user enters into the site at is based on the total amount of the initial deposit. Just like with the sign up bonus, a trader gets a lot more perks with the more money they deposit initially.
CherryTrade Classic account
It all starts with the CherryTrade Classic account which is the lowest account level and only requires the site minimum deposit of $200. Anyone who deposits between $200 – $499 will enter into to the site as a classic level trader and will also receive a sign up bonus of 25% of their initial deposit. They will also receive CherryTrade’s daily and weekly market analysis as an added bonus.
CherryTrade Bronze account
Next up in levels is the CherryTrade Bronze account. This level is achieved by making an initial deposit of $500 – $999 and it offers a nice 35% initial sign up bonus at this level. As with all higher level accounts, it gives the trader all the perks of the lower levels plus more. This level includes four risk free trades and access to weekly phone trading sessions.
CherryTrade Silver account
We liked what the CherryTrade Silver account had to offer when we tested the website. There is a very generous sign up bonus of 50% for any investor that makes an initial deposit of $1000 – $4999. Silver account status also allows the trader to make four $50 risk free trades and supplies them with some nice auto trading signals. We highly recommend this account level if you want a nice, well informed trading experience.
CherryTrade Gold account
Next comes an account for an investor that takes their trading very seriously and wants to learn all they can about binary options trading; it’s called the CherryTrade Gold account. This level is given to a trader that deposits $5000 – $9999 in their account to start.It not only gives the trader a nice sign up bonus of 75%, but it also gives them a 50% bonus on subsequent deposits; that is one heck of a deal by any binary option brokers standards.
It includes four risk free trades of $250, 3 months of free signals analysis, free trade alerts, weekly technical analysis trading sessions, assignment of a personal account manager and an unheard of 10% monthly insurance against losses.
CherryTrade Diamond account
The ultimate trading level on CherryTrade is the CherryTrade Diamond account which not only offers all of the features available to the other account levels, but it also offers a great 100% sign up bonus and four risk free $500 trades.
There really is a nice variety of account levels on CherryTrade.
There is a lot of diversity when it comes to CherryTrade’s easy to use web trading platform. We found it very easy to navigate around the website by using its many point and click features. It is a system that runs well even when there are a lot of memory strains in place while using the platform.
SpotOption is the software that CherryTrade runs on. It runs in a traditional graphic window based system that features a really clear and useful layout. It nicely displays all the settings and menu selections where the trader can clearly see them. The payout and return on investment ratios are also nice displayed to the side of the screen. There is even a handy trading sentiment indicator for the asset that is being displayed.
CherryTrade can also have multiple windows running at the same time so users can keep abreast of more than one asset to trade. That is a nice little feature, especially if you are trading on short time frames.
When using the site we found that the list of tradable assets was very small indeed, but some of this is compensated for by the fact that they have selected assets that are very stable in the trading market place. Among their asset selections are a mixture of stocks, indices, commodities and currencies.
Despite having only a small amount of assets to trade, they do have a large variety of binary options to choose from. These consist of such options as High/Low options, One Touch options, 60 second options, Long Term options, matched pair options and the unique ladder options.
When using the website we really found it very user friendly when it came to making trades.
As an indication of how much CherryTrade is in to educating their many users, you will see a convenient drop down menu after clicking on the learning tools tab. The drop down menu features a wide variety of learning choices. As much as they are into helping their traders learn, we were extremely surprised and disappointed to find that they did not offer a demo trading account when we looked at the website.
Banking is not a problem when conducting trading on CherryTrade, despite the fact that they only offer accounts in US Dollars or Euros. They accept deposit and withdrawals by using Visa, MasterCard, Amex, bank wire transfers, Maestro, Visa Electron and other methods; so they conveniently provide their users with a lot of variety here.
The banking service was pretty fast, but we also noticed there were a lot of additional fees in some cases, especially as they pertained to bank wire transfers. The cash out time in most cases was an acceptable 3 days and the minimum withdrawal is $100.
Cherry trade has a nice little customer service center that features access numbers in a lot of different countries. They can be contacted by using the phone, e-mail and live chat. Customer service is available in some form 24/7. It was a little surprising that the only supporting language was English. For those users that have a personal account manager, they can be contacted by using Skype.
One of the features we did not like about the site was the fact that the customer support tab was almost hidden and it took us a while to find it; something as important as that would make traders more comfortable if it was displayed more prominently.
We found CherryTrade to be at the end of spectrums when it came to what we liked and disliked while testing the site. They have a large variety of trading options offered, but they don`t have a demo account. End of the day, you will definitely get a good and profitable trading experience trading with CherryTrade. We highly recommend them for all levels of traders. This broker is also found on Binary Option Robot.
Customer Service: Live Chat / Email: [email protected]
Cherrytrade Minimum Deposit
Cherrytrade is our #1 rated US binary options broker, but it’s also one of the fastest growing binary options brokers. Cherrytrade has its headquarters in London, UK and has a great reputation.
About Cherrytrade The Company
Cherrytrade was established in 2020, and is powered by Flowingstream Capital Ltd. This broker has managed to grow substantially in the past years, and it is still the number 1 choice for US traders.
The minimum deposit on Cherrytrade is only $200, which is lower than the industry standard (which is $250). Cherrytrade offers 81% payouts. This broker is not CySec regulated, that’s why they can accept US traders.
Cherrytrade Trading Platform
The broker platform is 100% web-based, which means that you don’t have to download any software, and you can access your account from any device. Furthermore, Cherrytrade offers a great trading app for Android and iOS users for a more optimized experience on these devices. Cherrytrade is powered by SpotOption, the most popular trading platform in the binary options industry.
If you are new to binary options trading, you should check out the Cherrytrade education center, which offers basic and advanced binary trading strategies and it helps you learn the ropes of trading.
Deposit and Withdraw Methods
Cherrytrade offers a huge variety of payment methods and they have invested a lot of money and effort in making their website as secure as possible, including SSL encryption and other security protocols. The trading accounts are available in following currencies: EUR, USD, AUD, CAD and GBP.
The most popular payment methods are:
Credit and Debit Cards: Payments via credit or debit cards are fast and secure. The advantage of this payment method is that almost everybody has such a card and the fees are very low. Following Credit and Debit Cards are accepted: Visa, Mastercard, Visa Electron, Diners, Delta.
Maestro/Switch and Solo: You can use these cards howver you will need a 3D Secure code in order to deposit money.
Skrill/Moneybookers: Since Paypal is not accepted on most brokers, Skrill has become the most popular digital wallet. Deposit with Skrill are instant and very secure.
Wire Transfer: Wire transfer should be used only when depositing large amounts to the broker, because there is a transaction fee and it takes days for the payment to arrive.
-> other payment methods include: CashU, eWallet and many more.
Trading Accounts Based on Deposits
The size of your welcome deposit bonus and account type will depend on the amount you will be depositing. You can choose from these account types:
There are many assets that you can trade on Cherrytrade. The four main categories are:
Minimum Withdrawal Amount
After verifying your account you can withdraw your money any time and as much as you like. There are no fees for credit/debit card withdrawals and skrill, however if you want to withdraw using bank wire, then you will have to pay $30 processing fee. Withdrawals via bank wire can still be worth it, but only if you are withdrawing a larger amount ($1000 or more).
If you need help with your withdrawal, you can always contact their support, because they will be happy to assist you.
Minimum Deposit, Withdrawal and Trade
As said before, the minimum deposit on Cherrytrade is $200, and the minimum withdrawal is $100. When trading, the minimum investment is $5. If you haven’t already, you should learn about bankroll management – don’t invest all your bankroll at once, but make smaller trades instead, in order to avoid losing all your money on one unlucky trade.
Should I Deposit to Cherrytrade
That’s your call. I really think that Cherrytrade is a great broker with a good reputation and a stable trading platform. I really liked the fact that my deposits were processed instantly (I tried it with Skrill) and the minimum deposit is only $200. This low deposit should be enough to find out if this broker is for you and to consider depositing more in the future or not.
Take advantage of the risk free trades promotion that Cherrytrade is running at the moment. Also make sure to check out the education center to refine your trading skill and learn new strategies.
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