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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.
Account 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.
Trading Software & Assets
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.
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.
Banking & Company Information
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.