Cherrytrade is our #1 rated US binary options broker, but it’s also one of the fastest growing binary options brokers. Cherrytrade has its headquarters in London, UK and has a great reputation.
About Cherrytrade The Company
Cherrytrade was established in 2013, and is powered by Flowingstream Capital Ltd. This broker has managed to grow substantially in the past years, and it is still the number 1 choice for US traders.
The minimum deposit on Cherrytrade is only $200, which is lower than the industry standard (which is $250). Cherrytrade offers 81% payouts. This broker is not CySec regulated, that’s why they can accept US traders.
Cherrytrade Trading Platform
The broker platform is 100% web-based, which means that you don’t have to download any software, and you can access your account from any device. Furthermore, Cherrytrade offers a great trading app for Android and iOS users for a more optimized experience on these devices. Cherrytrade is powered by SpotOption, the most popular trading platform in the binary options industry.
If you are new to binary options trading, you should check out the Cherrytrade education center, which offers basic and advanced binary trading strategies and it helps you learn the ropes of trading.
Deposit and Withdraw Methods
Cherrytrade offers a huge variety of payment methods and they have invested a lot of money and effort in making their website as secure as possible, including SSL encryption and other security protocols. The trading accounts are available in following currencies: EUR, USD, AUD, CAD and GBP.
The most popular payment methods are:
Credit and Debit Cards: Payments via credit or debit cards are fast and secure. The advantage of this payment method is that almost everybody has such a card and the fees are very low. Following Credit and Debit Cards are accepted: Visa, Mastercard, Visa Electron, Diners, Delta.
Maestro/Switch and Solo: You can use these cards howver you will need a 3D Secure code in order to deposit money.
Skrill/Moneybookers: Since Paypal is not accepted on most brokers, Skrill has become the most popular digital wallet. Deposit with Skrill are instant and very secure.
Wire Transfer: Wire transfer should be used only when depositing large amounts to the broker, because there is a transaction fee and it takes days for the payment to arrive.
-> other payment methods include: CashU, eWallet and many more.
Trading Accounts Based on Deposits
The size of your welcome deposit bonus and account type will depend on the amount you will be depositing. You can choose from these account types:
- Basic Account: Deposit $200-$999 and get 30% bonus
- Professional Account: Deposit $1000-$4999 and get 50% bonus
- Expert Account: Deposit $5000 – $10000 and get 75% bonus
- VIP Account: Deposit up to $25000 and get 100% bonus
There are many assets that you can trade on Cherrytrade. The four main categories are:
- Stock: IBM, APPLE, MICROSOFT, LUKOIL, NIKE and many more.
- Currencies: EUR/USD, USD/EUR, EUR/GBP and many more.
- Commodities: COFFEE, GOLD, SILVER, SUGAR and many more.
- Indices: DOW, NASDAQ, DAX and many more.
Minimum Withdrawal Amount
After verifying your account you can withdraw your money any time and as much as you like. There are no fees for credit/debit card withdrawals and skrill, however if you want to withdraw using bank wire, then you will have to pay $30 processing fee. Withdrawals via bank wire can still be worth it, but only if you are withdrawing a larger amount ($1000 or more).
If you need help with your withdrawal, you can always contact their support, because they will be happy to assist you.
Minimum Deposit, Withdrawal and Trade
As said before, the minimum deposit on Cherrytrade is $200, and the minimum withdrawal is $100. When trading, the minimum investment is $5. If you haven’t already, you should learn about bankroll management – don’t invest all your bankroll at once, but make smaller trades instead, in order to avoid losing all your money on one unlucky trade.
Should I Deposit to Cherrytrade
That’s your call. I really think that Cherrytrade is a great broker with a good reputation and a stable trading platform. I really liked the fact that my deposits were processed instantly (I tried it with Skrill) and the minimum deposit is only $200. This low deposit should be enough to find out if this broker is for you and to consider depositing more in the future or not.
Take advantage of the risk free trades promotion that Cherrytrade is running at the moment. Also make sure to check out the education center to refine your trading skill and learn new strategies.