Cherry Trade Review
Boomerang $40 Cash Back!
|Support Types||Email, Telephone and Live Chat.|
|Trading Platform||Award winning SpotOption, regarded as the Best in the Market.|
|Minimum Account Size||$200|
|Minimum Trade Amount||$5|
|Maximum Trade Amount||$5000|
|Cash Back||Boomerang $40 Cash Back!|
|Payout||Up to 81%, 500% with One Touch and 1500% on Ladder Options.|
|Free Demo Account|
|Account Types||Basic up to $1,000, Professional up to $5,000, Expert up to $10,000, VIP up to $25,000 and Corporate|
|Deposit Methods||Credit/Debit Cards: Visa, Delta, MasterCard, Diners, and Visa Electron, Ewallet and Bank wire Transfers.|
|Withdrawal Methods||Credit Cards (same used for Deposit) and Bank wire Transfers.|
|Trading Methods||Binary Options, Pairs, Long Term, Sixty Seconds, One Touch and Ladder.|
|Number of Assets||60+|
|Expiry Times||Also 30,60,120, 180 and 300 Seconds and longer Exp|
|Types of Assets||Stocks, Currencies, Commodities and Indices.|
|Trading Currency||USD, EUR, GBP, AUD and CAD|
|US Traders Allowed|
- User friendly Platform with Excellent and wide range of Training Material
- Not Regulated but Highly Trusted but the whole industry.
Welcome to our Full CherryTrade Review
CherryTrade is a Binary Options Broker that was founded in 2013. It is owned and managed by Redtulips Consultants Ltd who are located in London and they operate from Gibraltar. They are relatively new to the Market but have obviously taken notice of the Binary Options Brokers around them and raised the bar to a remarkably high standard. They are now considered one of the Best Binary Options Brokers and for this reason, we have placed them on our Website and positioned them as one of our Boomerang Top Rated Brokers. We are happy to be able to offer you our ‘Boomerang Cash Back Offer’ with this Broker as well, you can receive a Cash Back amount of $40 if you register and deposit through us. Our intention is to always bring your money back to you after you invest and this how we want to start you off! We have chosen to only work with the Best Brokers, Quality rather than Quantity!
CherryTrade Review – Platform and Trading Software
CherryTrade uses the SpotOption Platform which is regarded as the best in Market and used by over 70% of the Brokers in the industry. This is a Browser based Platform so no download is necessary which means no additional installation is needed. The interface benefits from real-time data streams from Thomson Reuters which makes it accurate and very smooth. It is extremely easy to use and offers you numerous tools to help you with your Trades. Even Traders with very little experience can understand and operate the workings of it with ease. They offer you several time scales on the Charts showing you how the market has been behaving over the last few hours as well as a Trader Choice indicator giving you an idea how other people are Trading. You have the option of 6 different types of Trading, the Classic Call/Put Binary Options, Pairs, Long Term, Short fast Trades which include 60 to 300 seconds, One Touch where the profits can be up to 550% and Ladder options which can lead up to 1500%.
CherryTrade now also offers an iFollow Trading tool which lets Traders follow experienced and successful Traders, this will automatically place Trades for you to follow their Trades. There are several Traders to choose from and you can see their winning statistics for each one. They also have strong features called ‘Double Up’ and ‘RollOver’. These can be used after you have placed an investment and the Trade is on going. The ‘Double Up’ feature allows you to replicate the previous Trade with just a few clicks of the mouse. All the parameters stay the same, only the current price is different. If you feel confident the Trade is going your way you can easily double it and double your profits. The ‘Rollover’ feature can be especially advantageous if you have placed an investment but it looks like it may end out of the money at the Expiry time you have chosen, you can, with a small percentage increase to your investment extend the Expiry time to a later time where the Market may change and go in your favor. You do run the risk of losing more money as you have invested more but some Trades can be saved if you use this intelligently. It’s good to have the option!
There are 4 different categories available: ‘Currency Pairs’ which are very popular, ‘Commodities’ like Coffee and Corn, ‘Indices’ and also ‘Stocks’ like Facebook and Amazon. There are over 60 different assets to Trade with which is continually being increased as they add more to their portfolio.
CherryTrade has a totally responsive Platform which will work on most browsers and all devices: PC, Smartphone and Tablet. Their app also can be downloaded for both Android and iOS so you can Trade on the go.
CherryTrade Review – Depositing and Withdrawing
Depositing couldn’t be easier with the ability to use most Credit/Debit cards including Diners Card. They also welcome Wire Transfers and Skrill. All these transactions are safe and secure using SSL encryption. Although CherryTrade are not Regulated we have heard of no complaints regarding Withdrawals, this is a common problem with a lot of the Binary Options Brokers but we are happy to say you will not have issues in this area with them. They usually take around 48-72 to complete the transaction and this will be returned to the Credit Card originally used or Wire Transfer.
CherryTrade Review – Account Packages
CherryTrade has several Account options ranging from the Minimum Deposit amount of $200, which I think is very fair, all the way up and beyond $25,000 for a Corporate Account. Bonuses are proportional to your investment and they do give bonuses up to 100% which exceptionally high and can really make a difference to your Trading Strategy and when you use correct money management. But you must be careful as there is a Value of Trades you must reach before the Bonus is available for you to Withdraw. I would suggest you only take a Bonus if you intend to Trade for some time and do not want to make regular Withdrawals. It can take a number of weeks if not months to reach the value required depending on the number of Trades you make during your sessions but for long term plans, it can work particularly well and will give you far more capital to Trade with.
CherryTrade Review – Education
Binary Options is a simple concept to understand nevertheless the more knowledge a Trader can gain the more successful a Trader can become. CherryTrade without a doubt has made extraordinary efforts to make available some highly valuable material for Traders to use. They have one of the best Educational centers today in the industry. There are several educational tools on offer as well as a full glossary of terminology which is hugely useful for new Traders.
As soon as you register with CherryTrade you will receive a site tutorial to help you understand the various methods of Trading and how you can take advantage of the tools available. You will be given full access an extensive array of Training Videos and online e-books which cater for various levels of Traders from Novice, Experienced to Professional. The topics covered are the Trading Psychology, which is sometimes overlooked but vitally important. Financial Money Management and Market Analysis, both of which came make the difference, they really are need to know topics. All in all, CherryTrade do their best to inform and Educate their Traders and put them on the right path to succeed.
CherryTrade Review – Support
Support can not be understated in Binary Options and during our CherryTrade Review it was pleasant to see that they offer it 24 hours a day, 6 days a week via email, phone and Live Chat. Their Live Chat can be enormously effective when you have an urgent question and you need support as soon as possible. They have a team of professionals who not only help their clients with questions about their Website but can also help with Trading Tips and the Financial Markets. Overall, they are very prompt to reply and keen to resolve any issue you may have. Now this is what customer Support is all about!
CherryTrade Review – Conclusion
After extensive research, we have found CherryTrade to be of the highest quality and they have become one of the most popular in the industry and for good reason. The Platform is easy to understand and to use with various valuable tools at hand which are very helpful for the Trader to make his investment count. The efforts they have made to try and educate their clients is second to none and matches their efforts to be on hand and support all queries in a quick and professional manner.
But more importantly, none of this would mean anything if they did not look after their clients financially, and by this I mean pay out! One of the biggest problems and complaints you will come across is Binary Options Brokers just not allowing the Traders to Withdraw their profits. They are either very slow or they do not go through with for one reason or another.
I’m happy to say that CherryTrade are extremely reliable and swift with it Withdrawals, you will have no problems there. We could not recommend CherryTrade highly enough, their service has been hugely impressive all round!
If you have any questions, comments or anything you would like to share concerning your experiences with CherryTrade please let us know below or, you can contact us at [email protected]