History and Background
CherryTrade.com burst onto the binary option scene in 2013. It operates out of Gibraltar, and, believe it or not, it accepts U.S. customers, not something you find very often these days with the hyper regulatory environment in the states. The firm also has a customer base spread out all over the globe and has built a broad-based telecommunications network to make accessing their website and customer service reps a breeze. Their management team attests that it “truly places emphasis on you and your trading experience.”
Founded by a diverse group of experts in forex, derivatives, risk management, and international law, CherryTrade has leveraged their prior expertise in all fields to serve you with quick execution, an eager customer service department, and all-inclusive educational support materials. High payoff demographics are the rule, 85% on the top end, and applicable rebates for some asset choices, as well. As for their asset choices, they have settled on the more popular ones in forex pairs, stocks, commodities, and indices, approaching sixty at this writing. From a risk management perspective, you can avail yourself of Roll Over, Double Up, Sell Early, and Option Builder features, if that is your preference.
CherryTrade has also received high marks for their intuitive and colorfully oriented trading platform. Various color codes have been used to reflect changes in market conditions, and, as an added feature, the software does most calculations for you, so that you know the exact amount of potential winnings or rebates at any one time for your funds at play. There are account classifications for all levels of trader, five in all, each with welcome bonuses, benefits, and support that escalate with your deposit level. Getting started is easy with CherryTrade, and, if you are confused at any stage, customer support reps are easy to access via live chat, email, or direct phone line.
Features
The distinguishing features listed by Cherry Trade on their website are as follows:
- Founded in Gibraltar in 2013;
- Management group is experienced in all phases of the business;
- Payout ratios at the top end (85% on certain binary options);
- One-Touch weekend options can reach 500%;
- Asset choices comprised of forex pairs (12+Bitcoin/USD), stocks (19), commodities (7), and indices (20);
- Trading platform is straightforward and intuitive;
- Roll Over, Double Up, Sell Early, and Option Builder available;
- Traditional Put/Call, One-Touch, and Turbo options supported;
- Support materials apply to beginners, as well as to seasoned veterans;
- Minimum deposit = $200 or 200 Euros;
- Customer Service can be accessed “24X7” via live chat, email or direct phone.
Platform
The CherryTrade trading platform also receives high marks from traders. You access it directly from the Internet, such that no complicated downloads are necessary. Important information is displayed in an easy to understand format. Colors have also been used liberally to indicate ongoing changes in the market, and automated calculations alert you of your potential positioning for loss or gain in the currency of your choice. There is also a mobile app, such that most any device that can access the Internet will be able to facilitate your trading adventure with the CherryTrade website.
Information
Educational and training materials abound on the CherryTrade website, purposely developed to support a beginner in many cases. However, there are more advanced materials that can even provide worthy hints for a more accomplished trader, if your strategy is flexible enough to adjust to new input.
Support
CherryTrade’s management states, “Do not hesitate to contact us anytime through our live chat, email or phone support systems. We are here to help!” A network of 19 strategically placed direct phone lines makes calling the helpful assistants at CherryTrade both free and easy, but live chat and email get quick responses, too.
Safety
Your personal information, as well as all trading activity data, is safe from compromise, since everything is encrypted, using the latest in 256-bit SSL technology.
Conclusion
CherryTrade is centrally located in Europe. After two years in the fray, the firm has settled on high payouts, popular asset choices, a user-friendly trading platform with a complete set of complementary tools attached, and a highly competent staff of support personnel, eager to provide one-on-one coaching and assistance. CherryTrade has, in two short years, been able to acquire a broad global constituency. They must be doing something right to attract so many loyal customers. They also accept U.S. customers, as well, not usually the rule in this burgeoning and regulatory-minded binary option brokerage community. With all that it has developed at this stage, CherryTrade is worthy of your consideration.
