Cherry Trade Review

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Cherry Trade Review

Posted on by John Thiel

Cherry Trade is a the newest, and probably sleekest new binary options broker utilizing the Spotoption software and offering 60 second options for traders world wide including the USA.

Cherry Trade

Trader’s Snapshot:

  • Minimum Deposit: $200
  • Minimum Trade: $5 On 60 Seconds
  • Accepting US: Yes
  • Demo Account: No

Secure Trading Environment:
Cherry Trade provides a completely safe and insulated trading environment. The cashier, as well as all your financial transactions are coded and stored using a 128SSL encryption key. Management is very aware of issues such as identity theft and credit card fraud, so all your credit card information is hidden and only the last 4 digits are exposed for functional purposes.

Signing Up:
Registration is super easy, with only 5 fields to fill out all you basically have to do is click the submit button and you will be immediately re-directed to the cashier in order to fund your account.

Bonus Structure:
The incentives are provided based on account types, which are basically variants of deposit amounts. Accounts are divided into classic, bronze, silver, gold, and diamond which gets you a full 100% match up bonus. Trading volume requirements stipulate 30 times the deposit amount, so each dollar you get has to be traded X 30 before you can cash it out.

Educational Tools:
Instructional materials include a video library, courses on trading psychology, risk and money management strategies, market analysis, and free E-books for investors.

Mobile Trading:
This broker offers trading on IOS as well as Android, so you will be able to trade using your iPhone, Smartphone, iPad, or tablet.

Trading Options:
Cherry trade offers the standard trading package for Spotoption:

  • Digital: The standard binary options format, simply guess the general direction of the trend (Up/Down or Above/Below) and your contract will expire in the money.
  • One Touch: This feature is designed for more experienced investors who think they can predict if an underlying asset will reach the pre-determined support line during a fixed time-frame (which is actually set prior to the contract being purchased). Obviously the payouts are significantly higher (as much as 600% at times) but the risk is enormous and since its very hard to speculate correctly I wouldn’t recommend it for someone who is just starting out.
  • 60 Seconds: By far the most popular form of trading, with investors from across the world looking for this highly addictive vehicle.
  • Pairs: This is just a tab from the main menu which allows you to trade currencies directly without having to look at he sub-menu.

Assets 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

Commodities: Coffee, Gold, Oil, Platinum, Sugar, Wheat, Silver.

Stocks (Partial List): IBM, Microsoft, Apple, Nike, Coca Cola, BP, Lukoil

Indices: CAC, DAX, Nasdaq, S&P 500, Nikkei, FTSE, Tadawul.

Banking (Deposits & Withdrawals): All major credit cards are accepted, including Visa, American Express (Amex) Mastercard, Maestro/Switch, Solo, Visa Electron, Delta Card, as well as Debit and Pre-paid cards. Cashing out is done via wire transfers only at this time.

Accepted Currencies:
You can fund your account using USD, EUR, AUD, CAD, and GBP.

Customer Service Desk:
Service is amazingly professional with ultra fast response times. I was able to get all my questions answered promptly and courteously by a highly trained agent who spoke native English. However, if you are looking for service in other languages like German, French, or Italian, you will need a broker such as Banc De Binary or 24Option.

Conclusions and Recommendations:
Cherry trade has raised the bar on how a brokerage site should look and behave. Their staff and educational center are their strong points, however they need language support and a more robust asset index with stock like Google and Exxon. Overall score is 9.2/10 and highly recommended for US traders wanting to try out a new and honest broker that pays out quickly.

 

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