The CherryTrade platform is entirely web-based and accessible at any time from across the globe. Using SpoOption technology, this platform is secure and CySec regulated, with 128SSL encryption for stored transaction information. There is also a CherryTrade android and IOS Mobile App which allows users to manage their accounts remotely, with the same functionality as the web version.
Their data providers are Thomson Reuters, meaning that traders have access to real-time and accurate data streams.
The plethora of training sources includes free investor e-books, video trading courses, advanced courses, a video library, as well as trading psychology, financial management and market analysis courses.
Depending on the type of account held and assets traded, payout rates usually go as high as 81 per cent, but occasionally soar to 1500 per cent with Ladder Options, for instance. The minimum trade requirement is $5, and the maximum accepted amount for a transaction is $1500. Account deposits are $200 or higher, meaning that inexperienced traders are spared considerable initial losses.
Accounts are denominated in USD, EUR, GBP, CAD and AUD.
CherryTrade accept all major credit cards, as well as debit and pre-paid cards. Other deposit methods include eWallet, CashU and wire transfers. Withdrawals are currently only processed via wire transfers. Before cashing out, you have to trade 30 times your deposit amount, or in other words, adhere to the 30 times trading volume requirement.
Any type of CherryTrade account enables access to the entire range of trading assets. These include: 19 stocks, among which Tesco, BP, Nike and Microsoft; 20 indices, such as NASDAQ and FTSE 100; 7 commodities (coffee, gold, oil, platinum, silver, sugar and wheat); 13 currency pairs (Bitcoin/USD, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/TRY, and USD/ZAR).
As with any SpotOption developed trading package, CherryTrade offers High/Low, One Touch, 60 Seconds and Pairs trading.
60 Seconds is currently the most popular way to trade online, as it allows users to reap immediate rewards.
The High/Low options format enables users to guess whether their assets will experience an upward or downward trend at the time the contract expires.
With the One Touch feature,traders predict whether assets will reach a preset threshold before the contract expires.
The last feature, Pairs, allows comparisons of pairs of assets to be made, thereby eliminating the need to browse through the website menu.
Additionally, there is a Sell Early option with CherryTrade that allows traders to minimize losses.
CherryTrade’s approach to accommodating new users does not currently include a demo account as they have comprehensive educational and training facilities on their website.
Account Packages, Deposits and Bonuses
CherryTrade offer bonuses that are proportional to the type deposit amount, which in turn determines the type of account held. There are five types of accounts: Classic, Bronze, Silver, Gold and Diamond. Registration is free of charge and trading can commence immediately after the funds have been deposited.
They are relatively new in the business, yet they operate using CySec certified software, they have high payouts and relatively low minimum deposit requirements, they provide expert one-on-one sessions, risk-free trades, insurance and auto trading signals. Putting all their perks and drawbacks into perspective, one would have to say that they are head and shoulders above some of their established competitors and that they are worth a try.