It is a new broker that is based in Gibraltar and is licensed by the Cyprus Securities and Exchange Commission. Their customers include US traders. This is quite uncommon in the world of binary traders. Read the CherryTrade Review to see if this broker is right for you.
Min. Deposit: $200
Trading Platform: SpotOption
US Clients: YesThis broker is scam! Sign up with 24options instead!
CherryTrade Binary Options Broker at a Glance
The goal of CherryTrade is to put emphasis on you and your trading experience. CherryTrade review of the team showed that it consists of individuals from different backgrounds. CherryTrade staff is experienced in derivatives, Forex, risk management and legislation. This results in superior services. The payouts are up to par, up to 85% in some cases. Also rebates are offered in addition to that.
Regulated brokers that allow US Traders are always scams. Trading with such brokers is risky!
CherryTrade Reviews of Accounts
There are five accounts to choose from, that have increasing benefits and facilities. Their names are as follows: Classic, Bronze, Silver, Gold and Diamond. The minimum deposit required for each is: $200, $500, $1,000, $5,000 and $10,000 respectively. The option types available are: classic Call/Put, One-Touch and Turbo options.
Some helpful facilities that are offered are: rollover, sell early, double up and option builder. There are 60 assets to choose from, such as Forex pairs, stocks and indices.
CherryTrade Trading Platform Review
It can easily be seen that the platform is proprietary, because of how colorful it is. The colors are used as indicators that show if a current value is increasing or decreasing relative to the previous day. The information is presented automatically. When the wagered sum is entered, the trader sees what his earnings can be and his protected amount, in the case of rebates.
CherryTrade Scam platform is SpotOption without any customization. The platform is awesome, but the broker is not.
There is also support for mobile appliances, such as iPhone and Android. The latest encryption technology is used to protect the trading and personal information of the users.
CherryTrade Reviews of Deposits and Withdrawals
They can be realized with credit cards, debit cards and various payment providers that are local and global. There is no registration fee and the minimum deposit is $200 or €200. This amount of currency can also be maintained in CAD, AUD or GBP. A lot of documents are required before a withdrawal can be approved, such as photo identification and proof of address. Also the withdrawals can be made using the same instruments used to make the deposit and by the same person.
We advise you not to do deposits with scam brokers. They tend to decline withdrawals.
CherryTrade Binary Broker Customer Support
This broker prides itself with the fact of focusing on the traders and their experience, so the customer support section is up to high standards. They are reachable 24/7 by phone, e-mail or chat and they specify on their site not to hesitate to call them. There are a number of 19 different phone lines that offer multilingual support
The support did not give us any information about CherryTrade scam, we suspect it to be unreliable.
CherryTrade Review Conclusion
Cherry Trade has the advantage that is both licensed and situated in the European region, thus inspiring greater confidence to traders, as well as being situated near a reliable and important segment of traders. Their trading platform is one of the best, for the fact that besides simplicity and intuitiveness it uses colors and other visual aids in order to give information to the trader, in addition to just numbers. This makes it more appealing to new traders that want all the help they can get, as well as to experienced traders that want to organize their information differently. Because they state that their highest priority is the trader and that they back it up with features and improvements, they deserve to be recognized as one of the best brokers available on the market.
This broker seems to be questionable. Signing up with such brokers can be risky. Some users claim that CherryTrade declined their withdrawals without any reason.Open an Account with 24option