CherryTrade is one of the large-name brokers out there. They offer a great deal of customer service to ensure their clients are happy with the platform, so they keep investing and trading without much pressure. The platform is pretty simple to use, so CherryTrade is often recommended for Binary Options newcomers.
The first deposit that the trader makes with CherryTrade has to be of at least 200$; but they offer deposit bonuses and payouts that may be of 85% of the initial investment. It is also one of the few Binary Option brokers which is allowed to operate within the US. Their interface runs completely on-browser, so it is not necessary to download any sort of software to be able to invest with CherryTrade.
CherryTrade has several types of accounts. Basic accounts may invest up to 1,000$, Professional accounts up to 5,000$, Expert accounts up to 10,000$, VIP accounts up to 25,000$ and Corporate accounts have several exclusive benefits and tools at their disposal. Currently, Basic accounts aren’t entitled to any welcome promotion or bonus.
Demo accounts are recommended for every person that wishes to invest in Binary Options; this is because they allow traders to practice and to commit mistakes while not worrying about losing money. Demo accounts work with virtual money, which some brokers allow to be further incremented by depositing, but most of the time it is a fixed amount. Also, demo accounts tend to have a limited period of time in which they can operate; this is because brokers ultimately want traders to invest money, and simply having them safe-trading is not profitable. Through demo accounts anyone can learn how to operate the Binary Options market with ease. It also allows for novices and professionals to test their strategies on the field before applying them to real capital; a faulty plan may result in catastrophic losses, and every successful businessman has had to deal with great losses at some point in their career.
CherryTrade has been proving since it’s founding in 2013 that it’s one of the most user-friendly brokers there are. They also sport a large number of assets for traders to invest in, so it is easy to try several strategies by using their platform; CherryTrade offers every tool that a trader may need to get a head-start on their career. Customer support is very specialized on CherryTrade, they offer two phone numbers clients hailing from the United States and the United Kingdom can call to clear up any doubt or concern they may have; there’s also an option to engage in an online chat with a CherryTrade associate. CherryTrade has developed their own smartphone app, which is available in both Android and iOS systems. The app allows users to engage in every tool and resource CherryTrade has to offer, just like in the online platform. Through the app, you may deposit more money into your account and will be able to keep an eye on pending trades; by being a frequent CherryTrade user, more offers and bonuses will be available. These bonuses tend to be additional money that should be used to invest, since any money that hasn’t been deposited by the user is a potential profit waiting to be produced.