CherryTrade Minimum Deposit

UPDATE (12.01.2017):

We have found out that CherryTrade has shut down their operations.

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Old Review:

CherryTrade Minimum DepositSome investors like to make as high of an initial deposit as possible when joining a binary option website to take full advantage of all the bonuses and features that come with that. Other investors only like to deposit a little until they see if they like to trade on the website before making a bigger commitment. Either way is perfectly understandable and CherryTrade has a solution for either type of investor with the many different account levels they have to offer.

It is no secret that CherryTrade is one of the most trusted and respected binary option brokers that any trader will find on the internet. A lot of that is due to the fact they have an easy to use trading platform and the website always stays up to date on the latest types of binary trading techniques and they are also responsive to their many cucstomers demands.

When we took a look at their website, we came away thoroughly impressed with what we saw there. Because of that we immediately included them on our recommended brokers list. They are a site that offers safe and secure banking with no hidden fees, adequate withdrawal times and lots of options when it comes to moving money in and out of an investors account.

They accept such deposit and withdrawal methods as Visa, MasterCard, Amex, bank wire transfer, Maestro and Visa Electron among others. Hey also have the banking capability to do faster deposits and withdrawals using an e-wallet, but those can only be used in conjunction with credit cards. A bank transfer will be required if the withdrawal is above the initial deposit amount so a trader has to be sure to factor that into their initial deposit decision.

The minimum deposit on CherryTrade is a low $200 if they are using a bank wire transfer ($25 fee). To avoid the bank wire transfer fee a trader simply has to place a $500 or larger deposit on their credit card. An account can be opened by producing a scanned copy of a photo ID, a scanned copy of a utility bill showing their address and a scanned copy of the signed credit card being used.

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It normally takes 2 – 3 days processing time to request a withdrawal by using a bank wire transfer and another few days for the money to show up in an investor’s own bank account. Credit card processing of withdrawals tends to be significantly faster. The banking on CherryTrade is all done in a simple and straightforward manner with no hidden fees or charges. All fees associated with withdrawals are clearly laid out on the website. Things like the easy deposit and withdrawal methods are what keep CherryTrade constantly getting investors to join their site.

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References and Further Reading:

1. Country funds and asymmetric information (JA Frankel, SL Schmukler – 2000)

2. The process of financial innovation (WL Silber – 1983)

3. Why the euro will rival the dollar* (M Chinn, J Frankel – 2008)

4. Systematic risk, hedging pressure, and risk premiums in futures markets (H Bessembinder – 1992)

5. China’s new exchange rate regime, optimal basket currency and currency diversification (Z Zhang, N Shi, X Zhang – 2011)

John Miller
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John Miller

John has worked in investment banking for 10 years and is the main author at 7 Binary Options. He holds a Master's degree in Economics.
John Miller
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