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Rating: 3.0/5 (3 votes cast)

CherryTrade Review

Cherry Trade, domiciled in Gibraltar, opened its doors in 2013 and has since become one of the leading binary options brokers in the industry.It is one of the few binary options brokers that accept U.S. clients and has a customer base spread out all over the globe. Traders can connect with customer support by phone to countries throughout Europe, Asia, Africa and Oceania.

CherryTrade - Home Page

CherryTrade – Home Page

Features

There are five different trading accounts to choose from at Cherry Trade. The Basic account requires a minimum deposit of $200 and accepts up to $1000 to start. The maximum deposit in the Professional account is $5000 and the Expert account maxes out at $10,000. The VIP account accepts up to $25,000 and they offer a Corporate account which can be opened only with approval of the Cherry Trade administration.

When doing this Cherry Trade review, I found no further information on these accounts, such as bonuses and other features, which was somewhat surprising. I assume this information will be forthcoming when a trader opens one of the accounts.

It was nice to see that Cherry Trade offers a demo account for traders needing some practice before moving on to a real account. There are many brokers who do not offer this opportunity and that is a shame.

Cherry Trade takes education seriously and offers a full range of educational tools for its traders. New account holders are given a binary options eBook which contains helpful information about trading binary options, as well as a full glossary of financial terminology. Cherry Trade also has a full video library with various educational videos and live webinars that instruct traders in everything from trading techniques to money management tips.

There are various bonuses and promotions at Cherry Trade. Welcome bonuses on the first deposit are transacted immediately after the money has cleared. Other bonuses are also available. The bonus amount will depend on the initial deposit amount made by the trader and they range from 25% up to 100% of the initial deposit depending on the deposited amount. This bonus is also valid on any subsequent deposits in the future, which is a very nice feature indeed.

Unlike bonuses offered by other binary options brokers where the funds are deposited directly into the account, in order to get the bonus at Cherry Trade, traders have to contact the broker’s customer support department and request it. There is also a refer-a-friend bonus of $50 on every trader referred to the broker.

Platforms

Cherry Trade operates on the popular binary options software platform, SpotOption, which is 100% web based and needs no downloading. SpotOption is one of the best performing ones in the field and is the largest developer of binary options trading technology on the market. The company is also the only European licensed binary options trading technology developer which means that an independent government agency in Europe checked and evaluated the software platform.

AdvantagesDisadvantages
5 Trading AccountsOnly One Trading Platform
Demo AccountOnly in English and Arabic
CherryTrade Review, 3.0 out of 5 based on 3 ratings
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