CherryTrade is among the newly established binary options brokers, which was launched in 2014. It is owned by Blue Sky Solutions Ltd. The office of the owner is located in Secretary Lane, Gibraltar. Even though it is a fairly new broker, it has earned quite a reputation among traders in the US and Canada. They are among the top binary options traders who ere accepting traders from America. They work on the basic SpotOption platform which is very popular these days and they offer great benefits like 5 free trade signals per day which have made them quite popular among the newer traders.

Bonuses & Account Types

At CherryTrade you will get a bonus of up to 100% on the trades. This is true for all the successful deposits which you make with them and not only for the initial one, even though every new account holder is bound to get a bonus. This extra bonus can be used by you for other trades as well. Likewise, the bigger your deposit amount is, the bigger is your bonus amount.

At CherryTrade your initial deposit can rank you among the following account types:
Basic: For deposit up to 1,000 USD.
Professional: For deposit above 1000 and up to 5,000 USD
Expert: For deposit from 5000 USD to 10,000 USD
VIP: For deposit above 10,000 and up to 25,000 USD
Corporate: Above 25,000

All these accounts are eligible for a welcome promotion except the basic account.

Assets
On CherryTrade, the traders will get the following asset choices:

  • 19 stocks
  • 20 indices
  • 7 commodity pairs
  • 21 currency pairs

Their trading feature includes:

  • Standard Call/Put Binary Options
  • 60 seconds binary options
  • 30 seconds binary options
  • Long Term Options
  • One Touch Binary Options
  • Ladder Options
  • Pair Options

Trading Platform

The Trading platform forms the crux of the broker’s website. Since you do not need to install any additional software to access all the tools, the platform itself has to embed all the tools, and that too in an easy manner for the traders to understand. In this aspect, CherryTrade Trading Platform is one of the finest among others. CherryTrade uses SpotOption which is swift and easy to operate. One of the perks of the SpotOption platform is that the developers are completely licensed to enable this platform to only legitimate brokers. Therefore, one thing we can be sure of is that SpotOption platform is completely tried, tested and checked. More than 250 brands use the Spotoption platform and it holds nearly 70% of the binary options market. CherryTrade is among the select brokers who also employ it.

cherrytrade-2-binarytop-net

The SpotOption platform is the epitome of professionalism on a brokerage website. Even those traders who have very little or no experience of trading online, can understand the workings of this platform. However, besides computers, this platform can also be accessed by the traders on their iOS or Android smartphones. CherryTrade is one of the very few brokers that have its own apps. A mobile trading app is great for trading on the go.

Education and Support

When you sign up in this platform, you will get access to a wide range of educational material from the broker. This educational material includes a free online eBook, a personally dedicated market analyst who gives a one on one basis training on how to trade binary options to you. For a beginner, to get this kind of training is a matter of huge luck and opportunity. During the one on one training sessions, the traders will be made aware with the different market scenarios and how to utilize them to earn the profits in their favor. It improves accuracy greatly.

The customer service of CherryTrade is one of the best in this market. They are prompt, and skilled to tackle all your queries within an instant. One can get to them via email or call on their phone number. For US citizens, the phone number is 917-775-0324. If you aren’t comfortable either way, then there is the live chat support to help you out instantly. Just visit their platform and check out the green box in the lower left hand side area of the screen – hit that and you can connect with them easily.

Deposit and Withdrawals

The minimum deposit amount of CherryTrade is only 200 USD/GBP/EUR. With this minimum investment you will be able to access all the different trading options including even the long term options. The minimum trade for 60 seconds trade begins for 5 dollar. This means that you need minimum 5 USD to be eligible for taking part in that trade, for other trades, this threshold extends to only 25 USD. Their mode of depositing trade funds is also quite smooth. You can use also credit or debit card, to make the initial deposit.

cherrytrade-3-binarytop-net

Even though on an average the payout rate is 81% – it is still higher than many others in the industry, and at par with the best. The lowest payout at the most can be 70%.

CherryTrade is one of the swiftest in withdrawal process as well. Their withdrawal takes only 48 hours to process. Also, you will get a 15% rebate on your losing trade from this platform. The minimum withdrawal amount is 100 USD/EUR while the maximum withdrawal amount is fixed at $20,000. As with any legitimate broker, you will have to verify your withdrawals by providing photo ID and proof of address.

Summary

CherryTrade is offering excellent incentives for new traders who sign up, and also refer their friends, which are not really found much on other brokerage platforms. This new broker is 100% legit and by looking at its asset choices, trading features, and quick customer service, we can definitely recommend CherryTrade to all traders!