CherryTrade Review

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Cherrytrade Review

CherryTrade is a good binary options broker with a great reputation and easy to use trading platform.

  • Minimum Deposit: $200
  • Average Payout: 81%
  • Get 5 Risk Free Trades

Broker Info

Name CherryTrade Web site Online since 2020 Country Gibraltar Platform SpotOption

Broker Rating

CherryTrade was founded in 2020, and over the years this broker has become one of the top choices for traders (mainly US), because it’s the perfect broker for both novice and experienced traders. CherryTrade was able to establish themselves in the industry with their outstanding customer support, their extremely user-friendly platform, and their very knowledgeable team and they have a very good reputation in the binary industry.

This broker is owned by Redtulips Consultants LTD, a company which has offices in London, and operates from Gibraltar. We have split up this CherryTrade review into multiple categories.

Assets and Trading Software

Cherry is known for their extremely easy to use platform, which includes an education section, giving in-depth knowledge about binary options trading, advantages, strategies and much more. The broker offers over 100 different assets in 4 different categories: commodities, indices, currency pairs, and stocks including Facebook, Amazon, Twitter, Apple and many others.

They offer six different options which include the classic call/put binary options, pairs, long term with expiration up to a year, 60 seconds binary options, as well as 180 seconds and 300 seconds options, one touch options with up to 550% profits, and ladder options with an industry leading up to 1500% profit. CherryTrade now also offers the trading tool Ifollow, which lets traders follow experienced and successful traders automatically placing their trades on their account.

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Options Broker 2020!
    Free Trading Education!
    Free Demo Account!
    Perfect for Beginners!

  • Binomo

    2 place in the ranking!

Cherrytrade works on all devices: pc, smartphone, tablet. Their platform is web based, which means that you don’t have to download any software to get started. This way you can even access your account from computers where downloads are not allowed (for example at work). Of course if you want to trade on your smartphone or tablet, you will have to download their app. The Cherrytrade app works on both: android and iOS. You you are using a PC, then you are not restricted to any operating systems: you can use Microsoft Windows, Linux or any operating system, as 100% of the trading is done online. This means that you can access your account from any device that has internet on it.

Cherrytrade Account Packages

CherryTrade offers a variety of packages that cater both to novice traders who need education and more one on one support from Cherrytrade’s experts, as well as to more advanced traders that need a more tailored account that include bonuses and risk free trades.

Depositing and Withdrawing

Depositing with CherryTrade is pain free and very quick, while using the very safe and secure SSL encryption for all of their transactions. Even though this broker is not regulated by CySec, you can still feel safe, because one of the priorities of this company is to make the platform as safe as possible. You can open an trading account in any of the following currencies: USD, EUR, AUD, CAD and GBP.

You can deposit and withdraw money using following payment methods: Credit/Debit Card (including Amex), Wire Transfer, Skrill (Moneybookers). The minimum deposit on Cherrytrade is only $200, which is one of the lowest in the industry.

Educational Resources

CherryTrade knows that being successful is the most important aspect of trading and because of this they have the number one best educational center today in the industry, that has a wide range of resources including individual training sessions with professionals. As soon as you register with CherryTrade you receive access to huge online training video library of the site and also an online e-book. Cherrytrade has many different levels of education that can turn even the most novice of trader into a successful one. We recommend checking out these resources especially if you are new to binary options trading.

Customer Support

While reviewing this broker, we found out that CherryTrade’s outstanding customer support is available 24 hours a day, 6 days a week via email, phone, and Live Chat. Their team of professionals are not only able to help clients with any questions they have about the website, but also with trading tips, while also having a vast knowledge base about the different financial markets. The Live Chat support is great, if you have an urgent question.

CherryTrade Review


Broker CherryTrade
US Traders Accepted
Company Name Blue Sky Solutions, LTD.
Headquarters Gibraltar
Regulation No
Bonus Type Match bonus
Bonus Size $250,000
Max Payout 85%
Out-of-Money Reward 15%
Trading Platform SpotOption
Deposit Options Credit/debit card, wire transfer, CashU, Skrill
Deposit Currencies Euro, US Dollar, British Pound, Japanese Yen, Canadian Dollar, Australian Dollar, Swedish Krona, Russian Ruble
Minimum Deposit $200
Minimum Trade $5
Maximum Trade $5,000
Online Since 2020
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 60
Binary Option Types High/Low, Pairs, Long Term, Sixty Seconds, One Touch, Ladder
Customer Support Types Email, web form, telephone, live chat
Education Offered Free weekly training sessions, video tutorials, FAQ, glossary, how-to articles, trading eBook
Tools Offered Double up, rollover, daily and weekly market reviews, risk free trades, free weekly improvement sessions, auto trading signals, insurance for losing months, free personal account manager on Skype, free alerts
Commission Bank transfer fees of $30, $100 minimum threshold for all withdrawals. Wire transfers below $500 will be charged a $25 fee.
Languages English
Demo Account No

CherryTrade is a scam binary broker. They ceased all operations and their domain name has expired. The review below is presented for the archiving purposes.

CherryTrade is a Gibraltar-based binary options broker founded in 2020 by Blue Sky Solutions, LTD. The company’s website is pretty standard, and they operate on the SpotOption platform which most binary options brokers use. Despite the ease with which they could blend into the crowd, they do appear to have a bit more to offer than the average broker. They have some limitations (like no demo account), but they offer a lot of training materials, flexible account tiers and trade sizes, and a number of different trade types and expiry times. Unfortunately, they do not accept traders from the USA. Let’s take a closer look.

Opening Your CherryTrade Account

So far as I can tell, CherryTrade does not offer a practice account; the only reference I saw to a demo account was on an affiliate site, and it looked like an attempt to garner sign-ups. So when you go to open your account, you will open a real account, depositing at least $200 or the equivalent to do so. There are only a few deposit options: credit or debit card, wire transfer, Skrill, or CashU. There are however a number of currencies you can choose from, including Euro, US Dollar, British Pound, Japanese Yen, Canadian Dollar, Australian Dollar, Russian Ruble, and Swedish Krona. Not a lot of sites offer the Krona, so this is fantastic if you are trading from Scandinavia.

Five different account types are available: Classic, Bronze, Silver, Gold, and Diamond. If you make the minimum deposit, you’ll get a Classic account and a welcome bonus up to 25%. One cool thing about CherryTrade is that they also offer bonuses on subsequent deposits! So in the future, if you deposit again, you can get another 25% bonus on your next deposit, and so on. This may be the first broker that we have reviewed that offers this. This is a no-frills account otherwise, with daily and weekly market reviews and no other features included.

The higher your account tier, the higher the bonuses are, and the more extra features and benefits you get. CherryTrade offers a lot of training resources to higher-tier account holders, especially starting at the Silver level. You get risk free trades, free weekly improvement sessions, auto trading signals and breaking trade alerts, insurance on months where you end up in the red, a personal account manager on Skype, and free weekly technical and fundamental analysis trading sessions. All of this is in addition to the free video tutorials and eBook on the site in the Education section. Note that you also can get 15% back on losing trades, so the 10% insurance for losing months is in addition to that. All in all, there are a lot of choices, and something for everyone.

Fees on CherryTrade are pretty typical. There are $30 fees for bank transfers, and wire transfers under $500 will be charged a $25 fee. There is also a $100 minimum withdrawal threshold. It is a smart idea to deposit more than the minimum so that you do not have problems withdrawing your money if you want to. Plus, it will help you with money management.

Many Ways to Trade on CherryTrade

Just as there are a lot of account option and learning options, there are also a lot of options when it comes to trading (literally). You get 60 different assets to choose from (currencies, commodities, stocks, and indices), and you can try out any of the following trade types: High/Low, Long Term, Sixty Seconds, Pairs, One Touch, and Ladder. This is most of the binary options trade types that exist right now, with the exception of Boundary trading. So that gives you a lot of flexibility, not just in terms of how you want to trade, but how long you want to stay in your trades. With Long Term binary options, you can stay in your trades for months before getting out, great for position traders who want to keep out of the fast lane. If you want to trade fast, though, Sixty Second options are available.

There is a pretty wide range for trade sizes as well. You can trade as little as $5 on Sixty Second options. The minimum is set at $25 for all other trade types. If you have a big account, you can wager up to $5,000 on any given trade, which is a pretty high ceiling. Both the Gold and Diamond accounts are geared toward traders with bigger bankrolls, so this makes a lot of sense. The Diamond account starts out at $10,000, and can range up to $250,000. So traders who deposit that much may very well want to risk $5,000 on a trade.

Customer service is available through email, a web form, live chat, or telephone. There are telephone numbers for different regions throughout the world, which is a nice cost-saver. Live chat wasn’t staffed when we checked in, but it was a Sunday, so this was to be expected.


CherryTrade appears to be a broker worth investigating, particularly if you are a trader in the USA. US traders have limited options, and a lot of them are not that great. CherryTrade offers far more competitive features and benefits than many other brokers. Whether you are a short-term intraday trader or you are a long-term position trader, you will find a lot of exciting options to invest in. The training materials are excellent and the benefits for Silver, Gold, and Diamond account holders add value. Have a look at their website and get in contact with customer service, and see what you think. Remember though to do some demo trading (even if that means doing so on another site) before you go live!

CherryTrade (SCAM) , 10.0 out of 10 based on 1 rating

Best Binary Options Brokers 2020:
  • Binarium

    Best Binary Options Broker 2020!
    Free Trading Education!
    Free Demo Account!
    Perfect for Beginners!

  • Binomo

    2 place in the ranking!

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