The provided platform includes a massive number of potential trade configurations, yet is straightforward in its overall layout. Each provided asset class provides many different trade possibilities, with “hot” assets being pointed out. Among the useful elements of this platform is the provided live price chart, which delivers the potential to view previous price action for up to the past week. The platform can be viewed at any time on the broker homepage.
The provided instruments include: Binary Options, One Touch, 60 Seconds, Long Term, Pairs, and Ladder. Also offered is a wide range of expiry times which range from a mere 30 seconds up to a full 24 hours. The highest possible payout rate on standard trades is 81%, with One Touch trades offering up to 180% or more. The 60 Seconds instrument requires only a $5 minimum investment, with standard options calling for a $25 per-trade minimum. Small refund percentages are offered on select losing trades.
At last check, Cherry Trade was offering a total of 60 underlying assets. All assets are listed on the broker website, with each offering a description, along with the particular hours for trading the underlying asset. A comprehensive list of expiration rates is also offered. This list can help with strategies, comparing results for binary options signals, and more. Optional trade features such as Rollover and Double Up are provided and available with select standard trades.
Several educational resources are offered, and these can be particularly beneficial to new traders. Video training courses help with education, and these do include advanced courses. An eBook and glossary provide the basics of binary options trading. Current financial reports and news are offered, but there are no advanced technical charts. Customer support is available 6-days each week (Saturday excluded) via live chat, telephone, and email.
Financial extras such as bonuses and one-time credits are provided under certain circumstances. Unlike some brokers, CT offers these to not only new clients, but existing clients as well. All cash bonuses are linked to a 30x trade volume requirement which must be completed prior to withdrawal. Extra funds can also be awarded by referring friends and/or family members to the platform. When those people submit a deposit, the referring trader receives $50.
There are a number of different account types offered, including Basic, Professional, Expert, VIP, and Corporate. Every account provides some perks, possible including individual training consultations, risk-free investments, trade insurance, trading signals, technical analysis training, and more. The Basic account can be opened with a deposit of either 200 Euro or 200 US dollars. The minimum withdrawal amount is set at 100 Euros or Dollar. Credit card distributions are free, but wire transfers cost $25 each wire. Payment processing time averages 3-10 days total.
The primary concern that stands out with this broker is the lack of regulation. However, they are located in Gibraltar, a location which is yet to establish any regulatory authority. As far as reputation related to withdrawals goes, this broker is considered to be extremely reliable. For this reason, there seems to be little cause for any real concern on the part of traders.