CherryTrade Withdrawal

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UPDATE (1.11.2020):

We have found out that CherryTrade is closed.

We recommend choosing one of our top binary option brokers instead:

Try also Binary Option Robot if you are looking for automated binary trading.

CherryTrade is an innovative and popular broker on the binary options trading market. CherryTrade uses the SpotOption software and also offers a 6-second option for the betterment of the traders including those from the USA. Accepting US trades has been one of the most excellent characteristics of this broker.

Withdrawal method of CherryTrade is very easy, logical and fair. According to the broker’s withdrawals conditions, traders of CherryTrade have to submit the following documents: proof of address, a photo ID along with a copy of a credit card if this was the preference of asset. It is needed to be scanned and sent via email.

On CherryTrade binary options platform, no fees are charged for credit card withdrawals. On the other hand, the withdrawals via bank transfer will require paying a fee of $30. Traders are capable of obtaining a feedback from the broker regarding their withdrawal requests within up to 3 days. After the endorsement of every request, an additional 5 to 7 business day are needed for receiving funds by the traders.

The same credit card that was used for deposit needs to be supplied for withdrawals if the trader intends to withdraw via credit card. Moreover, the maximum withdrawal amount of funds to a particular credit card can`t go above the quantity invested. All the supplementary funds will be withdrawn through bank wire transfer.

CherryTrade customer support is available 24/7 and a trader can get in touch with them in the case of any doubts or problems through the contact form on the website. Moreover, all types of supports can be reached via live chat on the site or simply by phone. Their personnel will help with any technical challenges or demand for any information regarding the signals, markets and financial news.

CherryTrade Minimum Deposit

We determined to include CherryTrade in our updated Binary options brokers review list after successfully testing the platform ourselves. Moreover, we are incredibly happy to articulate that the broker has very well-organized banking services and transferring money with them does not take so much of time and efforts as with other brokers on the market, as we see in a number of trader complaints on those brokers.

All should be informed that no problems will be encountered at the time of investing in this platform as well. You can make a deposit with CherryTrade easily, as the company offers a lot of credit card and bank wire options for the convenience of the traders. Diners, Maestro, Visa, Delta, MasterCard and Solo can be chosen by users and, concerning bank wires, traders can also make use of their bank accounts for transfers here. Who those traders who normally like to trade rapidly, e-wallet is the best option for them to transfer money quickly and easily. Although there is simply an opportunity to take out your earnings via credit card or bank wire. This is quite standard and similar to any other broker on the market.

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In CherryTrade, the minimum deposit amount is only $200 that is required for creating an account along with the currency preference. On the other hand, the minimum amount for transfer is $500 if the trader would like to keep away from paying fees when transferring money via bank wire. If the valued traders would like to open an account, the first thing that is essential to do is data verification like photo ID, detailed address confirmation and credit card information. This should be scanned and sent for the broker to check.

In addition, it takes just around 3 days to process a request at the time of withdrawing through bank wire and between 5 and 7 days for the funds come into view on the user’s account. It can be earlier with credit cards and the minimum withdrawal amount is only $100, depending on the bank’s requirements. The banking facilities are pretty quick and simple but the only difficulty is that wire withdrawals are subject to additional fees. That mean that no free-of-charge withdrawals via bank wire are available.

CherryTrade No Deposit Bonus

In the binary trading industry, CherryTrade is quite popular due to the high payout of 85%, particularly on 30-second contracts and the welcome bonuses provided at the time of opening one of the five possible account types the company offers. So, it is really a great opportunity for the traders.

We saw in the past few year that binary options trading is becoming one of the most popular forms of investment. In Cherry Trade, all the team members are highly educated professionals with great experience in risk management, Forex trading, derivatives and also global law and legislation.

In fact, the company works hard to make sure procedures are straightforward and fast and the platform is definitely very user-friendly. Moreover, the CherryTrade offers a marvelous collection of assets that were cautiously selected among the most promising currencies, stocks, commodities and indices.

Concerning the signing-up bonus which is a bonus you acquire at the time of signing up and making a deposit on any account selected, CherryTrade offers basically five kinds of accounts according to the deposit amount made by a trader. The Classic Account provides a sign-up bonus that is up to 25%, and the trader wants to deposit between $200 and $499 for this account type. Bronze account gives a bonus up to 35% with the minimum deposit amount of $500 to $999 only.

Moreover, Silver, Gold, and Diamond require smallest amount deposits of $1000, $5000 and $10000 accordingly and they offer a sign-up bonus up to 50%, 75% and 100.

According to the trader’s choice various great benefits are available such as daily and weekly marketplace reviews, free weekly calls and development sessions, risk trades, auto trading signals, as well as insurance for any month that ends in a loss, free individual account manager and the right of entry to a private Skype room, free alerts on trades, technological and fundamental training sessions are given for the betterment of the traders with CherryTrade.

In CherryTrade, all types of the features and activities such as withdrawals, deposits and portfolio can be seen and accessed very quickly in the section titled “My Account”. Another important thing: there is no requirement to set up the software to trade with CherryTrade, so the trading platform can be accessed anywhere and anytime for the betterment of the valued traders.

CherryTrade Review

Binary Minery is always researching the opportunities on the binary options market and is constantly in search of great advantages and promotions for their readers, either they are experienced or beginner traders. We determined that this broker should be part of our detailed list of the most excellent binary options brokers obtainable on the market today, because of its outstanding capabilities and benefits that come with trading with it.

As a trader of binary option trader, you can observe more details in our CherryTrade Review.

You will discover comprehensive information concerning their particular features and the five account types offered by CherryTrade. Every single of them has its own requirements and characteristics according to trader’s requirements and ability to invest in their trading.

CherryTrade has one of the most appealing payouts of the marketplace (85%) on 30-second contracts. One the most generous payouts in the business, we have to say, and the company is proud of these results. As we had witnessed, digital binary options have increased in popularity in the last years and to meet the needs of the marketplaces, CherryTrade decided to build a strong group of professionals with immense experience in FX trading, derivatives, international legislation and also risk management.

CherryTrade trading platform is very much easy to use for traders, as it is 100% web-based. Because of this, traders do not need to download any software, making it easy to trade at any time and from anywhere. Moreover, you don’t need to have any preceding trading experience to begin trading with the platform, as great educational materials are available here to speed up your learning process.

CherryTrade trading platform has an enormous list of assets, including the most promising indices, commodities, stocks and currencies in order to trade successfully. Their CherryRevenue and affiliate program provides you with a personal manager that can help always help you with trading, tracking, payments optimization and conversion. Concerning appropriate payments, your affiliate commissions are sent by the 12th of each calendar month unfailingly. So, this affiliating is profitable also. Their affiliate programs are just like the fuel that empowers the binary options enlargement engine and through personalized promotional resources and innovative and creative work that Cherry Revenue is doing it has been proved to be an extremely successful program.

Is CherryTrade a Scam?

One of the main commitments that we have to traders is the fact that our users can always surely have the opportunity to choose from a well-selected list of binary options brokers, and this can be done based on readings of our full reviews. By doing this, we are providing traders with the assurance that the chosen broker is trustworthy and respectful, and the highest customer protection standards can be expected from this broker.

And it is not different with CherryTrade, as traders can see the company is in compliance with our guidelines in relation to fairness and reliability. Offering various options and features to choose from, this broker has five account types for selection according to trader’s preference. Besides, CherryTrade is committed to helping traders through personal service with training, general help and any advice needed.

The company has an effective trading software, the traditional graph-window system, which is run from the browser and performs well even with a bad internet connection. With a very clear and understandable layout, users can see the settings on the top of the screen and the payout amount with return ratio on the side.

Regarding the five accounts offered, CherryTrade has some good features on each of them. The Classic account requires a minimum deposit of $200 and includes a welcome bonus of 25%, as well as daily and weekly market reviews. The Bronze one offers 35% welcome bonus and 20% deposit bonus, and a minimum deposit of $500 is necessary.

The Silver account requires a minimum deposit of $1000, and a 50% welcome bonus and four $50 risk-free trades, as well as auto-trading signals, are provided. The fourth type, the Gold account, starts with a minimum deposit of $5000, and 75% bonus is added on the initial deposit, as well as four $250 risk-free trades, a month of signals and a 10% monthly loss insurance, weekly technical analysis sessions and a personal account manager.

Finally, the Diamond account is for those traders who wish to receive 100% bonus and four $500 risk-free trades and 3 months of risk-free trades, and a minimum deposit of $10000 is necessary.

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.

CherryTrade Review

Overview

Introduction CherryTrade is a binary options brand owned and operated by Redtulips Consultants Ltd. The company was founded in 2020, but began offering services in March 2020. Its headquarters are […]

Full Review Details

Broker CherryTrade
Website URL NEW https://www.cherrytrade.com/
Founded 2020
Headquarters 1A, Arcade House Temple Fortune, London NW11 7TL.
Support Number US +1-91-7775-0354
Support Types Telephone, Live Support, Contact Form
Languages English, Arabic
Minimum 1st Deposit $200
Minimum Account Size $200
Minimum Trade Amount $5
Bonus Up to 100% on Deposit
Payout Up to 81%
Free Demo Account
Fees
Fee Info $30 On Wire Transfers (Withdrawals)
Account Types Basic, Professional, Expert, VIP, Corporate
Deposit Methods eWallet, CashU , Maestro , Credit Card , Wire Transfer
Withdrawal Methods Credit Card , Wire Transfer
Number of Assets 60
Expiry Times 30s, 60, 2m, 5m, 15, 30, 1h, 2h, 4h, 8h, 12h, 1d, 2d, 3d, 4d, 5d, 7d, Monthly
Types of Assets Currencies, Commodities, Stocks, Indices
Option Types Binary Options, Pairs, Long Term, 60 Seconds, One Touch, Ladder, IFollow
Account Currency GBP, EUR, USD, CAD, AUD
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 80

Screenshots

  • High Payouts
  • Multiple Trading Types
  • Several Trading Materials
  • Trade on-the-go
  • Few Languages
  • No Demo
  • Fee on Wire Transfers (Withdrawals)
  • No 24/7 Support
  • No Support Email

Full Review

Introduction

CherryTrade is a binary options brand owned and operated by Redtulips Consultants Ltd. The company was founded in 2020, but began offering services in March 2020. Its headquarters are located at 1A, Arcade House Temple Fortune, London NW11 7TL.

CherryTrade is one of the few binary options brokers that U.S binary options traders can turn to. The company’s binary options trading platform is 100% web-based, which means no need for software installation.

Bonuses and Offers

CherryTrade does reward its new and regular clients with various forms of promotion including bonuses and one-time trading credits on occasional basis.

Clients cannot withdraw their bonuses unless they reach a trading volume equivalent to 30 times the size of the bonus. So if your bonus is $100, then you will be required to reach a trading volume of $3,000 in order to withdraw the $100 bonus.

In addition, clients cannot make any withdrawal of funds from their account before the above requirement is met. Failure to comply would result in the cancellation of the bonus amount, thereby deducting your account balance.

Account Types

CherryTrade has five classifications on trading accounts ranked by the level of deposit amount.

  • Basic: This type of account is composed of trades with deposits not exceeding $1,000. It has no promotions, which means no opening bonus.
  • Professional: This account represents traders with deposits capped at $5,000 and qualifies for promotions.
  • Expert: In order to have an Expert account, traders are required to deposit more than $5,000 and less than $10,000. It also qualifies for promotions.
  • VIP: This type of account attracts deposits that are more than $10,000 all the way to $25,000. Promotions are active.
  • Corporate: Any account with deposits exceeding $25,000 is ranked as corporate.

Trade Types

CherryTrade has nearly all types of binary options available for trading on its platform. Whether you are looking for the long-term type or the minute by minute options, CherryTrade has got you covered.

  • Call/Put Binary Options: Trade the classical call/put binary options and stand a chance to win up to 81% in payout.
  • Pairs: Compare two related assets in terms of performance and make you pick by predicting the one you think will outperform the other by the time the option expires. (Currently Unavailable)
  • Long Term: Some traders prefer trading in long term by timing major market events. These binary options provide you with that opportunity with expiry periods ranging from one day, 7 days as well as monthly.
  • Sixty Seconds: The opposite of long term is super short term. Traders can turn in profits by the minute by trading the 60 seconds binary options. With these they can invest as little as $5 per trade.
  • One Touch: Now, if you are the type that prefers limited trading with maximum payouts, the “One Touch” is ideal, as this type of binary options provides traders with the opportunity to make up to 500% in payouts. All you have to do is predict whether the price of the underlying security will reach a certain level at least once within a week.
  • Ladder: With Ladder options, traders have another opportunity to make massive profits. Here the payout increases as the price of the underlying security continues to drift towards your predicted direction. The broker has identified levels that are marked. Payout up to 500%.
  • IFollow: This is more like copy trading. Here traders can invest an amount $100 and set it to follow a certain trader (normally the very successful ones) for one week. At the end of the week, the rate of return of the trader you choose to follow will be your rate of return on your investment.

Asset Index

  • Currencies: BitCoin/USD, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/TRY, USD/ZAR
  • Stocks: IBM, Microsoft, Apple, BAE Systems (London), BP plc, Citigroup, Coca Cola, Gazprom (Russia), HSBC Holdings (London), Lukoil (Russia), Nike, Nissan Motor, Reuters (US), Rolls Royce, SBERBANK (Russia), TATA Motors (India), TESCO, TEVA.TA, TURKCELL (Turkey)
  • Commodities: Coffee, Gold, Crude Oil, Platinum, Sugar, Silver, Wheat
  • Indices: Bombay SE, CAC 40, DAX, Dow, Dubai Financial Market General Index, FTSE 100, Hand Seng, ISE 30 (Istanbul Stock Exchange), KL Future, Kuwait General Index, MICEX 10 (Moscow), MSM 30 (Oman), NASDAQ, Nikkei 225, RTS (Moscow), S&P 500, SSE 180 (Shanghai), TADAWUL (Saudi Stock Exchange), Tel Aviv 25, TOPIX

Trading Tools

CherryTrade has taken a big step towards making sure that its clients are well informed whenever they make that prediction of where the price of the underlying asset is likely head.

The company’s binary options trading platform has prepared trading materials such as guides on binary options as well as the usage and navigation across the platform.

CherryTrade has also created several videos with various lessons about binary options trading with some focusing on the basic stuff while others are typically made for advanced traders. Therefore, even those with knowledge about binary options can still learn something from CherryTrade’s trading videos.

The company has also written an eBook which can be used as reference point by binary options traders, both beginners and advanced when doing trading, or better still in sharpening their trading skills.

CherryTrade has launched iOS and Android apps for traders to download from the App store and Google Play respectively, thereby enabling trading on-the-go, a key feature in today’s financial markets.

Deposits and Withdrawals

Deposits

At CherryTrade, traders can deposit funds in their account via three methods which include bank wire transfer, Credit/Debit card (Visa, Visa Electron, Diners, Maestro, Maestro UK (Switch), Solo, Delta and Master Card) or the various electronic payment methods e.g CashU, eWallet, among others.

The minimum deposit is $200 or EUR200, GBP200 AUD200 and CAD200. The maximum deposit via credit card is $5,000, while for wire transfers there is no limit. The minimum deposit via wire transfer is $500, any deposit less than $500 attracts $25 fee charge.

Withdrawals

Traders can withdraw a minimum of $100. All withdrawals via Credit/debit card are done free, while wire transfers attract a $30 charge per withdrawal.

Withdrawals to a credit card can only be done to the same credit card used to deposit the money. Also the total amount withdrawn cannot surpass the total amount invested. All additional funds are withdrawn via bank transfer.

Withdrawal processing takes 5-7 days, and after that it depends on the withdrawal method and location of the trader’s bank.

Support

Traders can contact CherryTrade support via three avenues which include telephone, contact form and live support.

Live Support: This is available from 6:00 to 21:00 GMT Sunday through Friday

Contact Form: Filled online

Telephone: US +1-91-7775-0354

Get free life-time access our signals when you sign up and deposit with any of our recommended brokers.

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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