Cherrytrade Minimum Deposit

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CherryTrade Broker Review

CherryTrade is broker riding on the need of ambitious investors to stabilize their investments in highly uncertain times. This is what they believe is the primary benefit of binary options, and that is why they try to offer best trading experience with the lowest costs to all of their customers. In our CherryTrade review we noticed they created an easy to use website with plenty trading options that run on highly sophisticated technologies. To find out more read the CherryTrade review.

Conclusion:

We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

Between 74-89 % of retail investor accounts lose money when trading CFDs

CherryTrade Special features

In CherryTrade review you will discover this broker offers various options and features. There are five CherryTrade account types that let users choose what kind of support they need. Features mostly target users’ knowledge – making it better, and users’ winning chances – they are actively involved in the trading process. CherryTrade review showed us the brokerage approaches clients through personal service offering trainings, advice and general help.

The five accounts are built up on a series of features. Each account includes features of the smaller account and some additional ones that make it better.

The CherryTrade Classic account starts with $200 – $499 deposit and includes a welcome bonus of 25%, bonuses for subsequent deposits (25%) and daily and weekly CherryTrade review of the market.

The CherryTrade Bronze account offers 35% welcome bonus and 20% deposit bonus, four risk free trades, CherryTrade review of the market and weekly phone trading sessions. It requires a $500 – $999 deposit.

The CherryTrade Silver account is granted to users who deposit more than $1000, to $4999 and includes a 50% welcome bonus, 35% subsequent deposit bonuses, four $50 risk free trades, CherryTrade review of the market, and auto trading signals.

The CherryTrade Gold account starts with $5000 deposit. It adds up to 75% bonus on the initial deposit and up to 50% bonus on the subsequent deposits. It also includes four $250 risk free trades, a month of signals and a 10% monthly loss insurance. In addition to all the features of the previous accounts, this account also includes 3 months of signals, free alerts on breaking trades, weekly technical analysis sessions and a personal account manager.

The CherryTrade Diamond account starts with $10,000 deposit, adds up to 100% in bonuses, includes four $500 risk free trades and 3 months of risk free trades.

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  • Binomo
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CherryTrade Trading software

The CherryTrade trading software is the traditional graph-window system run from the browser. We discovered in our CherryTrade review that the trading platform performed well even under memory strains and bad internet connection. The layout is really clear and understandable. Users can see the settings (asset, expiry, trade amount) on the top and the payout amount with the return ratio on the side. Trading sentiment indicator is also present.

CherryTrade has a list or multiple window mode that makes it easier to trade more than one option. List of assets is fairly small including only some stocks and a few commodities. The indices list is somewhat longer. This asset setup actually corresponds with the stability promise of the company since the included assets are the ones that have the best liquidity and therefore carry smallest price changes.

The education tab is nicely designed on the CherryTrede broker platform. The lessons are divided into different areas like Market Analysis, Financial management or Trading psychology. Lessons are divided into small videos in a presentation layout. There is also an e-book as well as numerous other advanced video lectures. CherryTrade Review revealed the News section where traders can find good market analysis daily.

If you want to trade with an award-winning licensed broker, we recommended using IQ Option

Between 74-89 % of retail investor accounts lose money when trading CFDs

CherryTrade Support information

CherryTrade features a truly global support system. Almost every continent is addressed. Other than via the personal account manager, users can contact the customer support via chat, phone, email. Users who have a personal account manager at their disposal can also contact him via Skype.

The phone contacts are available in many locations, from US, Japan, Australia, New Zealand, to 12 European countries like France, Spain or Norway. From Asia, Bahrain is also included, as is Hong Kong. Email can be contacted conventionally or by filling the web form on the website. Customer & Technical Support is available from 6:00 – 21:00 GMT, Sunday – Friday.

The support e-mail wasn’t in the contact tab, but we found it in the terms of use when writing this CherryTrade review. It would be good to have it somewhere where users will see it.

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Between 74-89 % of retail investor accounts lose money when trading CFDs

CherryTrade Payment Methods

Financial services with CherryTrade fall in the area of known for most of the users who have used a binary option broker before. There are many credit card option like Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) and Solo. CherryTrade review revealed a swift transaction service platform.

With the bank wire, users can also use their bank accounts for transfers. This is somewhat clunkier and more expensive option according to the CherryTrade review. There is also the new wallet option for those who favor fast money transfer. Unfortunately, one can only withdraw via credit card, or, if its above the initial amount deposited, one must use wire, as with any other broker.

CherryTrade minimum deposit is $200 or the minimum amount tied to the currency of you choosing. If one wants to avoid fees ($25) with bank wire, that the minimum transfer is $500. CherryTrade review showed the depositing and withdrawing can last a bit longer if done via wire. This is how we cashed out after writing our CherryTrade review.

When withdrawing via bank wire, it takes up to 3 days to process the request and 5-7 days for the funds to be shown on the user’s account. It’s somewhat faster with credit card, but it depends on the bank. Minimum withdrawal is $100, users withdrawing by bank wire are subject to $30 fee. Request can be cancelled only if it is still being processed. We found the banking service to be pretty fast, but didn’t like the fact that wire withdrawals are tied to fees – there are no free of charge withdrawals via wire. For CherryTrade Review we used credit card for transactions.

Conclusion:

We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

  • FREE $10,000 demo account
  • Award-winning trading platform
  • Licensed and regulated broker
Between 74-89 % of retail investor accounts lose money when trading CFDs

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CherryTrade Review

Trading Platform CherryTrade

CherryTrade uses the SpotOption trading platform. A popular trading platform option among binary brokers, SpotOption flaunts a relatively easy to use interface and is loaded with basic and advanced features that novice traders will be able to learn to use in no time. SpotOption is now available for mobile devices, specifically Android and Apple iOS smartphones and tablets.

The platform is 100% web-based which means you don’t have to download any software. It can be accessed anywhere in the world. You can quickly access all your transactions – deposits, withdrawals, and trading portfolio – in the ‘My Account’ section. The maximum amount you can invest per individual trade is $5000.

SpotOption has the following unique features:

CherryTrade offers secure trading as it is utilizes the widely used SSL (Secure Sockets Layer) security system to encrypt encrypt all credit card payments over the web. This system is fully protected and automatic. You will get notification if your browser does not support the SSL security system.

You can open trading accounts in USD, GBP, Euros, CAD, and AUD. The minimum deposit is 200 in your chosen currency. The maximum deposit by credit card is 20,000 USD and unlimited amount if you use bank wire transfer. The minimum withdrawal amount is 100 in your chosen currency. CherryTrade processes each withdrawal request within five business days. For customer support, you can contact this broker via phone, live chat, or email.

  • SpotOption Platform
  • Low minimum deposit

Platform type: SpotOption

Platform Languages: English, Spanish, German, French, Russian, Chinese, Japanese, Italian

OS Compatibility: Mac OS, iOS, Windows, Android

Streaming News Feed: Yes

Email Alerts: No

Mobile Alerts: Yes

Company information CherryTrade

Located in: Gibraltar, European Union

Website: http://www.cherrytrade.com

Founded in: 2020

Accepts US Clients: No

Phone number: 917-775-0324

Email: [email protected]

Account Options CherryTrade

Commission:

Minimum Deposit: $200

Payouts Percentage: 85%

Deposit Options: Credit Card, Debit Card, Bank Wire Transfer, CashU, Skrill

Withdrawal Options: Credit Card, Debit Card, Bank Wire Transfer, CashU, Skrill

Payout Ratios: CherryTrade offers payout up to 85%.

Available Assets CherryTrade

Forex, Indices, Stocks, Commodities

What Support Does This Vendor Offer?

  • email
  • phone
  • live support
  • training
  • tickets

Customer Support Languages: English, Spanish, German, French, Chinese, Japanese, Italian, Arabic, Dutch, Swedish

Customer Service Hours: CherryTrade provides 24/7 customer support.

Place Trades Over the Phone?: Yes

CherryTrade Trade types

CherryTrade offers the following trade types:

CherryTrade Trade accounts

CherryTrade offers five types of accounts:

Classic Account – Deposit 200+

  • 20% welcome bonus
  • Junior broker
  • Level 1 education center

Pro Account – Deposit 2,500+

  • 35% welcome bonus
  • Executive broker
  • 1-on-1 basic training – 1 hour
  • Level 1+2 education center
  • General trading signals

Gold Account – Deposit 6,500+

  • 70% welcome bonus
  • Executive broker
  • Risk free trades x3
  • 1-on-1 advanced training – 3 hours
  • Level 1-3 education center
  • General trading signals

VIP Account – Deposit 50,000+

  • 50% welcome bonus
  • Executive broker + analyst
  • Risk free trades x5
  • 1-on-1 analyst sessions – 7 hours
  • Level 1-4 education center
  • Personalized trading signals

Corporate Account – Deposit 100,000+

  • 30% welcome bonus
  • Executive broker + analyst
  • Risk free trades x10
  • 1-on-1 analyst sessions – Unlimited
  • Full education center
  • Personalized trading signals

CherryTrade Position In Our Categories

Position of CherryTrade in our main categories:

CherryTrade is one of the top 20 Binary Options Brokers products

If you are considering CherryTrade it could also be a good idea to investigate other subcategories of Binary Options Brokers gathered in our database of SaaS software reviews.

It is important to realize that virtually no service in the Binary Options Brokers category is a perfect solution able to fulfill all the goals of various investors. It may be a good idea to read a few CherryTrade reviews first as certain solutions can actually excel only in a specific geography or situation or be created with a really specific customer in mind. Others might function with an intention of being simple and intuitive and consequently lack complicated features needed by more experienced users. You can also find services that support a wide group of users and give you a complex feature toolbox, but this in most cases comes at a more expensive cost of such a service. Ensure you’re aware of your needs so that you pick a service that provides all the functionalities you look for.

User Satisfaction

We realize that when you make a decision to buy Binary Options Brokers it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and CherryTrade reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with CherryTrade. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

CherryTrade

Rating Payout Min Deposit Bonus Regulated
» Visit
81% £200 100%

No Payout: 81% Min Deposit: £200 Bonus: 100% Regulated:

No

Cherry Trade have ceased trading. The firm is no longer accepting new accounts.

Return to the broker comparison table to search for an alternative broker.

CherryTrade are a relatively new broker, but they are building a strong reputation very quickly. Their offices are located in London, but the firm have quickly established themselves across the globe. Running on the SpotOption platform, they have become popular with traders in a short space of time. This backs up their aim to provide a simple introduction to trading, where experience of the stock market is not a prerequisite for success. Their easy to use tools and intuitive design make them an extremely ‘accessible’ broker, and this is further reinforced with their customer support.

There are five levels of account to cater for the differing needs of clients, and they also have a wonderful feature referred to as ‘iFollow‘ which is a fantastic tool for novice traders – that is covered in more detail below.

Head straight to; Payouts

Here are some of the other key details regarding CherryTrade;

  • Demo Account – Yes (Real money deposit required in order to open demo account)
  • Minimum Deposit – £200
  • Minimum trade – £5
  • Signals service – Yes
  • Bonus details – Deposit match bonus (up to 100%) or risk free trades available.
  • Mobile App – Yes. Android and iOS catered for.

Trading Platform

The trading platform is clear and intuitive, as should be expected where a firm puts such emphasis on making trading accessible for all.
The clear design ensures all the relevant information for a trade is on display, and traders can make choices quickly and easily with all the information they need.

Traders can have more than one trading window open, but each window offers the same display options. On the top left is the asset lists – these are a series of simple drop lists, enabling the trader to select the appropriate asset. Next comes the expiry time, again, this can be amended via the drop down menu. The last row along the top of the trading window in the amount being traded. Completing this field will update the potential payout figure that appears just above the payout percentage. That percentage is clearly displayed so traders know exactly how much any payout will be.

To the left, in the main section of the trading area is the price graph. This displays the recent price movement for the asset selected. This information can be changed by amending the time periods covered. This is of benefit when traders want to see a trend over the slightly longer term. Between the price graph and the payout is the current price – plus the all important trading buttons. Here traders can select their call or put options. The whole trading area is fiendishly simple and new traders will be up and running almost immediately.

Trader choice

CherryTrade offer a great range of binary option types.

  • Binary Options – The traditional High/Low options. Will the asset rise in value, or fall?
  • Pairs – Which of two assets – generally corporate stocks – will perform best? The pairs of assets will normally be related, for example Google versus Amazon. This type of trade is not available with most brokers.
  • Long term – Long term options follow the same principals as standard binary options – but the expiry periods are longer. Expiry times can be from a week or two, up to 9 or 12 months.
  • 60 Seconds – High octane trading! Again, the actual trade is similar to that of a standard binary option, but here, the expiry times are exceptionally short – 60 seconds or less.
  • One-touch – A popular and potentially quick-fire option type. Will an asset ‘touch’ a particular value prior to the expiry. One touch options generally have a high touch value, and a low touch value.
  • Ladders – Not available at many brokers, CherryTrade also offer ladders via their platform. Ladders are staggered price levels that allow traders to make substantial returns if an asset value breaks through a number of ladder ‘rungs’. Payouts at CherryTrade can reach over 1000% with these types of instrument.
  • iFollow – The iFollow feature is listed alongside trade types, but is not really a trade type. It is a tool for allowing traders to mimic the trades made by other profitable traders. This is covered in more detail in the ‘Other Features’ section.

The assets lists at CherryTrade are good, though some brokers may offer more currency pairs and commodities. That said, all the well traded assets are there and as a relatively new broker, CherryTrade will add to their offering as they go.

Mobile App

CherryTrade make their trading platform available on mobile for both iOS and Android (version 2.3.3 and above). The mobile app presents a trading area which is equally easy to use as the full website. The trading buttons are well positioned and sized, so while all the information is available, the screen does not become to ‘fiddly’ to use.

Historical trading information is presented on the mobile application too, with open positions listed and then a similar page listing expired positions. All the relevant details of those trades is displayed. Account details are also accessible from the mobile app including deposit and withdrawal requests. An account balance can be displayed at anytime, in any screen, enabling traders to stay up to date where ever they are.

The app is a great addition for CherryTrade and has been well received by traders looking for a mobile solution.

Payout

CherryTrade generally offer payouts around 81%, and this will depend on the asset class and expiry time. Payouts are at the higher end of the spectrum relative to rivals, and the more exotic trade types can provide even higher payouts. Ladders in particular can offer huge payouts (as much as 1000%) if traders believe an asset is approaching a volatile period, and price movements will be significant.

Withdrawal and deposit options

CherryTrade offer a wide range of deposit and withdrawal options. They also employ some stringent security arrangements, these include ‘proof of identity’ processes that need to be met before funds can be deposited (Photo ID, proof of address and if using a credit card, a copy of that). This also however, smooths the withdrawal process.

Deposits can be made via eWallet, CashU, Wire Transfer, Maestro or Credit Card (Credit cards accepted include Visa, Delta, MasterCard, Diners, and Visa Electron). Wire transfer deposits may attract a fee unless they are above $500.

Withdrawals require the same proof of identity steps before being actioned. This can be a bone of contention with some traders who view it as an unnecessary delay – but it is a legal money laundering requirement, and actually protects the consumer.

There are no fees for withdrawals back to a credit card – and traders can make one wire transfer per month free of charge – there is however a $30 fee for extra withdrawals made via wire transfer each month. Withdrawals can only be made back to the same card that made the deposit. Also, withdrawals cannot exceed the total deposits made with that card – the remainder will need to be transferred via wire transfer. This effectively means any profit from trading will need to be withdrawn direct to a bank. There is also a maximum withdrawal figure of $20,000 per withdrawal.

Withdrawals can be cancelled by the trader if the funds are required in the account. As long as the withdrawal has not been processed, cancellations can be made directly with CherryTrade, either by email or telephone.

Other Features

CherryTrade have one additional feature in particular that makes it an attractive proposition – the ‘iFollow’ option. Here are some details about that, and other features;

  • iFollow – This feature allows traders (particularly novices) to follow the trades made by the most successful traders on CherryTrade. Users can select the traders they want to follow, choose how long they follow them for, and how much to place on each trade. CherryTrade will then open the same trades automatically, allowing traders with little experience to profit from knowledgable and profitable traders. There is a growing trend for this sort of feature, but CherryTrade are ahead of the game here.
  • Rollover – Postpone the expiry time of a binary option, to the nearest available expiry time, in exchange for a premium.
  • Double Up – Traders can repeat their current trade in a single click, allowing them to maximise profits from a sustained price move, or trend that looks set to continue.

CherryTrade offer a great option for novice traders, hence the rapid growth they have enjoyed. They also, however, cater for more experienced traders by delivering a good asset list and large variety of trade types.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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How To Start Binary Options Trading 2020
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