CherryTrade is a 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 my Cherry Trade review i noticed they created an easy to use website with plenty trading options that run on highly sophisticated technologies. To find out more read the Cherry Trade review.
In my Cherry Trade review you will discover that this broker offers various options and features. There are five Cherry Trade account types that let users choose what kind of support they need. Features mostly target usersâ€™ knowledge â€“ making it better, and usersâ€™ winning chances â€“ they are actively involved in the trading process. Cherry Trade review showed me that this brokerage approaches clients through personal service offering training, 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 Cherry Trade Classic account starts with $200 â€“ $499 deposit and includes a welcome bonus of 25%, bonuses for subsequent deposits (25%) and daily and weekly CherryTrade review of the market.
The Cherry TradeÂ Bronze account offers 35% welcome bonus and 20% deposit bonus, four risk free trades, Cherry Tradeâ€™s review of the marketÂ and weekly phone trading sessions. It requires a $500 â€“ $999 deposit.
The Cherry TradeÂ Silver account is given to users who deposit more than $1000 to $4999 and includes a 50% welcome bonus, 35%Â subsequent deposit bonuses, four $50 risk free trades, Cherry Trade review of the market, and auto trading signals.
The Cherry TradeÂ Gold account starts with $500 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 Cherry TradeÂ Diamond account starts with $10,000 deposit, adds up to 100% in bonuses and includes four $500 risk free trades and 3 months of risk free trades.
Trading Software and Assets
The Cherry Trade trading software is the traditional graph-window system run from the browser. I discovered in my Cherry Trade 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 pay-out amount with the return ratio on the side. A trading sentiment indicator is also present.
Cherry Trade has a list or multiple window mode that makes it easier to trade more than one option. The 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 Cherry Trade 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. Cherry Trade Review revealed the News section hasnâ€™t started posting yet, which we found a bit unsatisfying; however, there is a Cherry Trade Financial news ticker to the right of the textual field.
Support and Services
Cherry Trade 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 and email. Users who have a personal account manager at their disposal can also contact him/her 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 â€“ 21:00 GMT, Sunday â€“ Friday.
Banking and Company
Financial services with Cherry Trade 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 a somewhat heavier and more expensive option according to the CherryTrade review. There is also the new wallet option for those who favor fast money transfers. Unfortunately, one can only withdraw via credit card, or, if itâ€™s above the initial amount deposited, one must use wire, as with any other broker.
Cherry Trade minimum deposit is $200 or the minimum amount tied to the currency of your choosing. If you want to avoid fees ($25) with bank wire, the minimum transfer is $500. Cherry Trade review showed that depositing and withdrawing can last a bit longer if done via wire. This is how i cashed out after writing my Cherry Trade 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 userâ€™s account. Itâ€™s somewhat faster with credit card, but it depends on the bank. Minimum withdrawal is $100; users withdrawing by bank wire are subject to a $30 fee. Requests can be cancelled only if it is still being processed. We found the banking service to be pretty fast, but didnâ€™t like the fact that wire withdrawals are tied to fees â€“ there are no free of charge withdrawals via wire. For Cherry Trade Review I used my credit card for transactions.