Are you looking to start trading in binary trading? You have binary trading strategy and want to start trading? In this detailed review we examine Cherry Trade(a binary broker) in detail to highlight the good and the bad.
Brief Cherry Trade is one of the leading binary option brokers in the industry at the moment. It was founded in 2013 and within few years it has become one of the most famous broker around the world. It is owned by Truchot Ventures Limited, which operates from Gibraltar and also has offices in London. It comes with a praiseworthy customer support along with very simple platform. But still the question remains how authentic this specific broker is and can you really except to gain what it is promising to deliver? Let’s find more about this binary broker.
Different Types of Binary Options – There are six types of binary options available from Cherry Trade. It offers:
It enables you to decide if you want to make a short term investment with a quick profit in 60 seconds or longer term investment for weeks or months possibly with greater profit.
Trade in various assets – On this binary options broker you will get a wide range of trade items to invest on. Trade items are divided into 4 main categories:
You have the option to invest in 59 different items of your choice only with Cherry Trade broker. You may choose any of them to trade in and be comfortable and confident about your trading decisions.
Relatively Low Minimum Deposit Amount – Comparing with other trusted binary brokers, it has a lower minimum deposit amount. The minimum deposit amount is only 200$ where other well-known and established brokers (as example Banc De Binary, PWR Trade, UBinary) has 250$ minimum deposit policy. If you want to start small you should surely give it a try.
Different Types of Accounts – Theyoffers 5 different types of accounts and you may choose the one which best matches your requirements. You options available are::
Cherry Trade Account Types:
Risk Free Trades
Executive Broker + Analyst
Executive Broker + Analyst
Based on your experience and investment amount you will get certain perks with this binary broker. So it does not matter if you are a new trader or an experienced one when it comes to binary options trading, you can choose your account type based on your needs.
No Software Needed to Trade – In order to trade with Cherry Trade you don’t require any special software. So you could trade on the go without having any kind of problems. If you are at home you can simply trade on your computer and if you are outside you can just login to the website using your account and trade with your cellphone.
Binary Options Tested is a safe website in which we have strong security by using firewalls and IP protection to keep it safe from website attacks. We also have SSL security in place for encryption to make everything you see on the website safe and secure so you are sure everything is authentic here.
What Cherry Trade Offers to the New Users: 10 No Risk Trades – With an offer you have 5 totally risk free trades for your account without having to open premium account. See their special offer here.
First Deposit Bonus – You can get bonus money depending on your deposit amount. Typically the bonus varies between 20% to 70%.
Free Personal Account Manager – You will get a free account manager with whom you can talk privately on Skype and it can be a great asset if you are looking forward to improve your trading skills with help of an experienced mentor.
It is a great place to start your journey of Binary Trading because of its new user oriented facilities. You can expect safe trading environment in conjunction with personal assistance and also some bonus money to start your first investment.
Trust Factors: Brand Reputation – It established in 2013 which means the brand is successful for many years. They are not scams and around for longer than 99% of start up brokers which vanish within couple of months. CT has proved that their service is reliable to their customers and there are many other positive reviews and feedbacks from real customers.
No Get Rich Quick Schemes – Just like regulated brokers Cherry Trade follows a set guideline to meet their customer expectations. Unlike scam brokers who always give false promises about getting ridiculous profits from their investment. As a legit Binary Option Trading Broker you would never find such false promises. The average profit you can expect from real brokers can be 50% to 100%. If a broker is promising to any higher or any type of guarantees you can be sure they are a scam. Cherry Trade offers an average profit of 81% which is fair rate for a legit broker and proves the point that it is not offering any huge profit to tempt you into something you don’t want. It is has similar return like the other legit brokers such as NADEX and Banc De Binary.
SSL Secured Website – This binary broker has a website with SSL security installed on it. We love SSL as it makes us feel secure. SSL security ensures establishing an encrypted link between their website and your browser. Every data passing between you and them remain private and integral.
Downsides worth mentioning: Company address– This binary broker’saddress is buried deep inside their website and its hard to find. We had to contact their chat to ask for it. If you need to contact them through address it is here: Truchot Ventures Limited, Suites 41/42, Victoria house, 26 Main Street, Gibraltar.
Unregulated – CT is not regulated as a binary broker but they are registered business in Gibraltar. CT passes our trust levels due to our findings and checks. It is a trustworthy broker and we did not find any reports to prove the contrary.
Overall Cherry Trade is a nice binary options trading broker which provides a lot of attractive features in addition with a safe platform to trade on. Lots of people have successfully made profit by using it. Lots of trusted websites recommend them and I also find them safe for investing my own harded money.
Verdict: Cherry Trade is Approved
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Cherry Trade is an online binary options trading platform which is co-directed by Liam Grainger & Ryan Coates. Ryan seems to be new in business but Liam is a long time experienced trader who is well in his 60s. Cherry Trade’s main office is in Gibraltar and it’s under the umbrella of Greymountain Management Limited which is registered in Ireland.
Worldwide, not taking new clients from USA since 15 September 2015
watch the video
Cherry Trade platform features:
Offers multiple tradings like Binary Options, Pairs, Long Term, Sixy Seconds, One Touch, Ladder, iFollow
APP available on Android and Apple platforms
No payment request, no credit card details needed (unless you decide to trade live, you can’t trade for nothing, well duh)
Forex Trading, Commodities Trading, Stocks Trading, Currencies Trading, Indices Trading
No need to download any software as its website based (unless you want app on your Smart Phone/Tablet)
No previous trading experience required
Email, Phone & Live chat support – Timing Sunday to Friday from 6am to 9pm GMT Data service from Thomson Reuters who provide intelligent up to date knowledge about markets
Deposit methods are Wire Transfer from your bank account or Credit card(Visa/Master etc). More options available
Very easy (addictive) to learn trading platform
Over 40 trading assets to choose from between currencies, commodities, indicies & stocks
Cherry Trade International Helpline numbers
How to use Cherry Trade – A Binary Options Platform
Cherry Trade has done well over the years in terms of their service and easy to understand yet detailed system. While doing my tests I kept my trading within the realm of binary options only and didn’t try other options like pairs sixy seconds etc to not skew my results. To place a trade requires minimum $25 per position from your deposited balance which I think is not bad considering the payout could be $42.50 on average which is a healthy return of about 70%. You don’t have to deal with the fees and position placement charge as you focus on 3 things only.
Whether you think price will go up(then select call, up arrow) or down(then select put, down arrow).
The amount you are gong to place minimum is $25 and maximum could be anything. I recommend that investors keep the amount per position to $25 only until you are experienced with how the system works and to not loose your money. Of course you can win too but it is better to have experience first.
The payout amount. This is the total amount which will back into your balance if your prediction was correct.
Cherry Trade Test Results
I tested the Cherry Trade for just an hour a day and here are the results
Day 1: Started trading with $200
Day 3: Balance $357
Day 5: Balance $425
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