This article is dedicated to one of the brokers from the “middle age” of the binary options trading market. CherryTrade began providing services back in 2013 and to date has already managed to acquire solid service experience in providing its customers with conditions for efficient trading. CherryTrade is developing surprisingly rapidly and it is now becoming one of the most popular trading platforms available.
CherryTrade’s service is currently based on the SpotOption platform. This system always receives high praise among users with different experience levels making it a very user friendly way to trade. The platform works directly through browsers, so you do not have to look for additional programs or updates. To get started, you need only fund your account to the amount of $200 and proceed to practical trades with investments of $5 or more.
We think it is important to note that CherryTrade’s approach to the classification of accounts is a little different than those used by other brokers. Most companies divide their accounts based on the viability of their future owners. It is inherent in the account names, such as “gold” or “platinum”.
Counter to this, the approach that CherryTrade has is purely practical. The Company understands that its customers are primarily traders with varying levels of experience so instead, they offer their customers the option to choose an account that is based on their level of professionalism: Basic, Professional, Expert. In addition to these accounts there is a “VIP” account and a trading account for legal entities under the title of “Corporate”.
When it comes down to the question of making the choice for yourself it boils down to a few simple questions; To what degree do you use the tools available for trading binary options? How long have you been working in this field? How successful are your decisions? Based on the answers, evaluate your level of professionalism, and pay attention to the account that suits you best and try to be honest with yourself to make the best use out of the account you choose.
In general, the percentage of profit for standard options trading reaches as high as 80% when using “Low / High” and up to 500% profit per “One touch” transaction.
Some brokers, with whom we have worked and tested, use advanced features enabling them to optimize the trading process, specifically, to increase revenue and reduce losses and risks. The functionality of CherryTrade includes the following tools that you may find interesting: for example, iFollow; a strategy that allows you to automatically repeat the transactions of the selected trader.
We appreciated the selection of assets proposed by CherryTrade. Compared to other brokers the amount of assets here seems to be quite modest. However, in our experience, we can say that more than 100 assets in four main categories (commodities, indices, currency pairs and stocks) is more than adequate for productive participation in any trading process.
To work with the assets you need to create an account and make an initial deposit. With the creation of an account you will have access to educational materials, such as videos, articles and detailed e-books, which will allow you to use existing resources more efficiently and thus, increase your investment potential.
Deposit and withdrawals
Over the few years that CherryTrade has been trading they have earned and deserved their excellent reputation. Their system for the input and output of money is especially noteworthy. Firstly, the company provides reliable protection for all investments and offers a stable financial system for operations with money.
Secondly, the broker provides its customers with an extensive list of tools for deposits and the withdrawal of money earned. Depositing on CherryTrade is made very simple.
The smallest possible amount permissible when you open an account is $200 and is only available when you use a credit or debit card. With bank transfers the amount must be $500 or greater. Like many brokers it is an international website meaning that you can open an account using a variety of currencies, including USD, EUR, GBP, AUD and CAD.
Withdrawals usually take from five to nine days. The first 2-3 days will be spent processing the request of the withdrawal and going through security procedures. Following this, a few more days will be needed for the money to be transferred to your outside account.
CherryTrade has a professional and reliable support team, maybe even the best in binary trading industry. The support team works around the clock to make sure that every customer’s problem is solved as soon as possible. To contact support, you can call via phones in the US, Europe, Asia, Africa and Oceania, however, the richest network of subsidiaries is located in Europe where you can get through to experts from the UK, Switzerland, Italy, Spain, Austria, Luxembourg, Denmark, Finland, Sweden, France, the Netherlands and Norway.
For this review we used the request form on the website www.cherrytrade.com to seek answers to our questions. We filled in the required lines and entered our questions and a very detailed reply was sent to us within 30 minutes which is a very impressive turn around time.
The CherryTrade platform has all the necessary basic functions, as well as a series of additional features for more efficient trading. We believe this is a definite plus and a sign that the company cares about its customers. Another positive aspect is the training center which contains a wealth of e-books and video materials. It is not by chance that within their few years in the market, this broker has gained a loyal customer base, which is very satisfied with the quality of CherryTrade’s services.