Cherry TradeBroker Review
Launched recently, Blue Sky Solutions owns Cherry trade and their offices are at Gibraltar. They offer their traders pairs, ladder, high-low, long-term and 60-second options, among others. Commodity future options in wheat, corn and coffee are also offered by Cherry Trade. Additionally, traders can trade in more than 180 assets. The following points review Cherry Trade in detail.
|Bonus||Up to 100%|
|US traders accepted|
- One on one education
- Intuitive trading platform
- Up to 15% risk reduction on trades
All major currencies are offered by Cherry Trade, including small pairs like Russian Ruble, Turkish Lira, Rand and the Singapore Dollar. The options provided by them include 60 second, 30 second and 120-second options. The latest version of SpotOption is offered and compatibility with all trading signals is present with Cherry Trade. The popularity of Cherry Trade is especially great in England and US. They were one of the most popular brokers in the month of July.
SpotOption is the trading platform used by Cherry Trade and it is an award-winning platform for binary options. Currently, this platform is the best in the market and is used by all reputable and large brokers. Licensed in Europe, this trading platform is completely transparent and has been checked by the European government agency to ensure its legitimacy. The platform is simple to use and even nonprofessionals can learn its ropes in a few days. The use is straightforward and the platform is elegant.
Promotions and Best Bonus
There are many bonuses and promotions offered to the traders of Cherry Trade but the best among them is the welcome bonus that is offered on the first deposit. When new traders register and make their first deposit, the welcome bonus is instantly added and it depends on the amount of the deposit. It ranges from 25 – 100 percent of the amount deposited and would be valid on any deposits made in the future. The customer support needs to be contacted for getting the bonus. However, it should be noted that accepting this welcome bonus locks the deposit amount. This state remains until the trader makes a certain volume of trade using the deposit and bonus.
Min. Deposit€ 200
There are many payment processors supported by Cherry Trade like Delta, Diners Club, Switch, Solo, Maestro, Visa and MasterCard. Wire transfer is also one of the methods that Cherry Trade offers. With binary businesses, the deposit amount is usually a lot but with Cherry Trade, it is as low as $200 – currently lowest among all the brokers. Depositing $500 awards traders with 4 free trades – each of the value of $25. For larger deposits, the free trades are greater and come with additional benefits. Processing of deposits takes about a week to finish.
Customer Service and Other Tools
The customer service of Cherry Trade is easy, quick and accessible. Traders can solve their queries through phone, email or live chat. The customer support is extremely competent and is one of the main reasons of Cherry Trade’s popularity. Any information about technical analysis, financial news and markets can be acquired from the customer service center. Not just that, Cherry Trade has many other resources for the education of their traders such as an EBook which is available online and completely free. Daily market signals and personalized trading sessions are also offered by Cherry Trade.
- Bank Wire
- Visa Electron
- Email: email@example.com
- Phone: +44 203-519-2136
The average rate of payout is 81% but it depends upon the chosen asset. With ladder options, for instance, it can be as high as 1500 percent. The lowest payout is at 70 percent. Transactions can start from $5 and go up to $1500, and US citizens are accepted. The standout feature of Cherry Trade is the long-term options with expiration dates from 1 day to a year. Most brokers do not provide this feature. Android and iOS devices can also be used for trading on mobile.
|Speed Trading||Spread High/Low||One Touch||Option Builder||Mobile Trading||USA Traders|
Advantages and Disadvantages
The only con that comes to light is the locking of deposit after accepting welcome bonus which many traders might not be aware of. The pros include small initial deposit, great bonuses, fast withdrawals, long-term deposits and accepting US citizens.
In the year of 2014, many promising brokers have made an appearance but Cherry Trade is easily one of the most promising and popular ones. Overall, it seems that Cherry Trade has earned its accolades and popularity, and can be a great option to choose among binary options brokers.
Pros & Cons
- Easy-to-use trading platform
- Advanced trading strategies and techniques
- Risk reduction on losing trades, up to 15% rebate
- Academy center with training videos, free eBook, etc
- Not regulated (But uses SpotOption V2 platform which is CySEC regulationed)