Started in 2013, this broker has since risen to the top of the charts for a lot of traders. It is very popular because it is actually available in the US, which is more than can be said for a lot of brokerage firms out there. It has offices in London and is owned by Redtulips Consultants Pvt. Ltd., with offices in Gibraltar as well.
From the informative site to the free accounts and the really great promotional offers, this is a broker that is loved by everyone who uses it, and it is time to find out whether or not you should get on it too. Find out about the different features, the platform and its reliability right here, so you never have to worry about being unsafe.
Special Features, Bonuses And Options
There are many types of trades available with CherryTrade, such as the classic binary options trades, Ladder options, Pairs, 60 Second Trades, One Touch and Long Term Trading. The average payout for a trade is about 81% which is a bit more than the average when compared to other brokers.
You can pay between $5 to $1500 per trade, with over 160 assets to trade in. You also can get a welcome bonus of up to 100% based on the type of account you create. Possibly the best part about this broker is that it is available for traders in the US.
There is another feature that is quite amazing, and that is the fact that you can deposit an unlimited amount of money into your account. The minimum deposit amount is $200 but there is no defined maximum. Add this to the on-the-go mobile trading options and we have a winner!
Some of the accounts that are available to create with this broker are pretty lovely. There are unique features for each level, and the type of account is determined by how much you deposit initially. As with any broker, the more you deposit the more features you enjoy.
Classic – Minimum deposit of 200 dollars. You receive a bonus of 25% of your deposit. You also get to enjoy a daily and weekly market review for free, while gaining access to the education center.
Bronze – Deposits of $500 to $1000. 35% bonus when you sign up, with all the perks of the classic account too. You also enjoy 4 trades with no risk and access to phone trading each week.
Silver – $1000 to $5000 minimum deposit starts you off with a Silver account that has a 50% signup bonus and 4 risk-free trades valued at $50 each. There are also automatic trading signals accessible at this point, providing a lot of information to the trader.
Gold – In this account you deposit between $5000 and $10000. You get a 75% signup bonus and 50% bonus on all deposit afterwards. You also get to enjoy 4 trades without risk valued at $250, and free alerts, analytics, a 10% monthly insurance and your own personal account manager.
Diamond – for people depositing between $10000 to an unlimited amount, the diamond account is available. It has all the features of the other account types as well as a giant 100% welcome bonus and four $500 trades free without any risks.
Can It Be Trusted?
While the broker doesn’t have a regulation from CYSEC or any other trading regulatory authority, it is recommended by dozens of blacklist sites as being extremely trustworthy and secure. The site is clean and encrypted, and all user information is encrypted as well.
Is The Platform Any Good?
We should think so! It uses the SpotOptions 2 trading platform. If you have experience with trading options before, you know what this is. It is one of the most versatile, friendly and powerful platforms out there for people who are beginners to the industry experts in the trading business.
When testing out the site, it was incredibly easy to access any of the features. The customer support tab was a little hard to find, but the trading tools and other features are spread out right at your fingertips.
How Do I Withdraw Money?
While they don’t offer online money transfers via e-banking, you can get your withdrawals pretty fast using your credit or debit card for free. You also can get the money via a wire transfer if necessary.
All in all, this is a company that is recommended by traders and reviewers alike, and for good reason. They are safe, secure, reliable and are perfect for novice traders. Make sure you don’t trade with them if you only use PayPal or Neteller: they don’t have any e-banking services.