CherryTrade Scam

UPDATE (12.01.2017):

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

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Old Review:

CherryTrade ScamScam is a pretty harsh word to use when it comes to referring to a website, but a website that is consistently growing because of its reputation can hardly be placed in that category. Such is the case with CherryTrade. They do everything they can to make their site as fair as possible and that helps build its reputation as one of the most trustworthy binary option sites on the internet.

Not only is CherryTrade reputable, but it is among the sites that offer the best binary options trading terms too. It is a company that truly puts it investors first and does everything in its power to help stabilize trading as much as possible in uncertain times.

It is one of the stated goals of our website to help our readers choose from among the best binary options brokers in the business to trade on and CherryTrade is in that conversation for sure. If our readers look at the sites full review they will clearly see why that is true. How does a broker make our list? The only way is to prove to us that they are a broker that is both trustworthy and highly respectful of their trader’s needs; they also have to have a great customer support system.

CherryTrade’s site features and trading platform easily meet all our guidelines for fairness and ease of use. It has an outstanding software package to run its highly respected trading platform too. CherryTrade uses the highly popular SpotOption trading platform that goes a long way to make trading on the website easy to learn and simple to do. The site is 100% web based so there is no software to download or anything else to buy. The platform uses a graph and window based system with drop done menus to help a trader quickly navigate around the site.

They also have five different account types that all have features which enhance an investor’s ability to trade successfully. There is an account level that will satisfy every investor’s budget and trading experience.Each account level is backed up with learning tools, general customer service help and other forms of binary options training.

The five account levels are as follows:

  1. The Classic account – it requires a deposit of at least $200 and has a sign up bonus of 25%, as also features daily and weekly market reviews.
  2. The Bronze account – it requires a deposit of at least $500 and has a sign up bonus of 35%. In addition all subsequent deposits have a 20% bonus that comes with them too.
  3. The Silver account – it requires a deposit of at least $1000 and has a sign up bonus of 50%. In addition all subsequent deposits have a 35% bonus that comes with them too.
  4. The Gold account – it requires a deposit of at least $5000 and has a sign up bonus of 75%. In addition all subsequent deposits have a 50%bonus that comes with them too.
  5. The Diamond account – this is the highest account level. It requires a deposit of at least $10,000 and has a sign up bonus of 100%. In addition all subsequent deposits have a 50%bonus that comes with them too.
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References and Further Reading:

1. The intraday effects of central bank intervention on exchange rate spreads (R Fatum, J Pedersen, PN Sørensen – 2013)

2. Predictable risk and returns in emerging markets (CR Harvey – 1995)

3. International trade information (S Piggott – 1996)

4. Foreign Reserve Accumulation: Some Systemic Implications (C Noyer – 2007)

5. Foreign exchange intervention in Venezuela (I Giner, O Mendoza – 2005)

7 Binary Options review: CherryTrade: 4,5 stars.
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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