Cherry Trade is one of the newest binary options brokers on the market. The broker operates on the reputable software platform developed by the company SpotOption. SpotOption is a software developer that is licensed in Europe and is obliged by the law to only cooperate with completely legitimate companies.
Even though the broker is new, Cherry Trade managed to convince a large number of traders that the services it offers are safe and of very good quality. In the review below we’ll detail what we found when we reviewed the binary options broker Cherry Trade.
Platform and Software
Cherry Trade operates on the award winning binary options software platform SpotOption. SpotOption is at this moment the largest developer of binary options trading technology on the market. The company is also the only European licensed binary options trading technology developer.
The above means that an independent government agency in Europe checked and evaluated the software platform developed by the company in order to make sure that the software is not rigged in brokers’ favor. The agency then officially approved and licensed the software platform.
Only a very few binary options brokers operate at this moment on fully licensed and legal trading technology.
The SpotOption software is also known to be one of the best performing ones in the entire business. If you just check out Cherry Trade’s website you will notice that it’s extremely elegant and straightforward to use. This is because it’s based on SpotOption technology.
iOS and Android Apps
Cherry Trade is one of the very few binary options brokers that offer a custom made application for both iOS and Android mobile devices. What this means is that if you use a mobile device for trading purposes you will be able to trade at Cherry directly from a native app and not from the mobile version of the brokers’ website.
Binary options types
The software platform used by Cherry Trade will allow you to trade various types of binary options, such as regular high/low options, long-term options, sixty seconds options and one-touch options. This will meet the needs of all types of traders.
Long-term options (very important, please read!)
The best part is the availability of long-term options, something that is not being offered by most other brokers. Long-term options can be purchased with expiration dates ranging from 24 hours up to even a full year.
We can’t even describe how much of an advantage this feature gives to traders. The biggest problem with today’s binary options business is that most (around 99%) brokers never offer any long-term options as they give too much advantage to traders. Instead, most brokers only offer short-term options (60 seconds to 1 hour maximum), as it’s very difficult to predict the movement of an asset in such a short time frame. At Cherry Trade, however, you’ll be able to profit from the advantages offered by long-term options to the maximum.
We again have to repeat how significant this is, as most traders don’t realize it. If you want to win in binary options then long-term options are the key. Just do proper research and if you invest in options that expire between 1 day and 1-2 weeks then you WILL win. (Remember to do your research first about the asset you’re investing in!)
Cherry Trade offers a significant list of assets people can choose from. Below you’ll find the complete list of all the available assets:
Forex pairs: USD/ZAR, USD/TRY, USD/SGD, USD/RUB, USD/JPY, USD/CHF, USD/CAD, NZD/USD, GBP/USD, EUR/USD, EUR/JPY, EUR/GBP, Bitcoin/USD.
Stocks: Turkcell, Teva.Ta, Tesco, Tata Motors, SBEBank, Rolls Royce, Reuters, Nissan Motors, Nike, Lukoil, HSBC Holdings, Gazprom, Coca Cola, City, BP, BAE Systems, Apple, Microsoft, IBM.
Commodities: Wheat, sugar, silver, platinum, oil, gold, coffee.
Indices: TOPIX, TEL AVIV 25, TADAWUL, SSE 180, S&P 500, RTS, NIKKEI 225, NASDAQ, MSM 30, MICEX 10, KUWAIT GENERAL INDEX, KL FUTURE, ISE 30, HANG SENG, FTSE 100, DUBAI FINANCIAL MARKET GENERAL INDEX, DOW, DAX, CAC 40, BOMBAY SE.
Payout rates offered by Cherry Trade depend on the type of asset you choose, the type of option contract you select as well as the expiration time you adjust while trading. The lowest payout rate offered in the case of certain options is 70% while the highest can reach as far as 400%.
The standard payout rate offered by Cherry Trade (the payout rate that is most common in the case of most contracts) is 81%. This is a medium to high average payout rate at this moment in the binary options business.
Bonuses and Promotions
Cherry Trade offers various bonuses to traders with the most prominent bonus being the first deposit welcome bonus. This bonus can be claimed right after newly registered traders make their first deposit.
The bonus amount will depend on the initial deposit amount made by the trader. This bonus can range from 25% up to 100% of the initial deposit depending on the deposited amount. The bonus is also valid on any subsequent deposits in the future.
In order to get the bonus traders will have to contact the broker’s customer support department and ask for it. What traders will have to remember is that accepting the bonus will mean that their deposit will get locked in until the deposit and the bonus have generated a certain volume of trades.
If you don’t want your deposit to be locked in then you should not accept the bonus. Only accept the bonus if you are 100% sure you intend to keep trading in the future and that you won’t change your mind. If you aren’t 100% sure about this then you should not accept the bonus.
Deposits and Withdrawals
It’s possible to deposit and withdraw money at Cherry Trade using a wide variety of payment processors such as MasterCard, Visa, Maestro, Switch, Solo, Diners Club, Delta and wire transfer.
The minimum deposit amount allowed is just $200, which is one of the lowest in the binary options business.
Traders who deposit at least $500 will receive four free trades of $25. Additional free trades (and other benefits) can be secured in case of larger deposits.
Withdrawals are being processed by the broker in a matter of days up to around a week. Important: If you have accepted a bonus in the past, you can only withdraw if you have met the brokers’ bonus unlock criteria. If you are unsure how this works and what it means please don’t accept any bonus after you sign up.
We believe that Cherry Trade is one of the best newcomers in 2014 in the binary options business. The broker had a great start and seemed to have attracted a lot of positive attention due to the advanced services it provides as well the fact that it’s willing to offer traders a fair chance at winning by offering long-term options as well.
We think that Cherry Trade is one of the brokers that can truly make you win in binary options. Please follow this link that leads to Cherry Trade’s registration page if you want to get started and make money in binary options.