CherryTrade is one of the best binary options brokers in the market and can help you make a lot of money.
Binary option types
CherryTrade offers five types of binary options for you to invest in. Those are:
- High / low options: Predict whether an asset will rise or fall over a given period of time.
- One touch options: Predict whether an asset will reach a predefined target price in a given period of time.
- 60 seconds: A special version of high / low options with a very short expiration time of only 60 seconds.
- Ladder options: Ladder options allow you to keep investing in an option that has worked well for you, thereby increasing your return.
- iFollow: iFollow is a great option for newcomers. With iFollow, you automatically duplicate an expert trader’s trades into your account. With this option type, you can even make money without any knowledge.
This list of binary option types is top edge. Most of CherryTrade’s competitors offer less options types, for example missing such new binary options as ladder options and iFollow options. Every trade has to decide for himself whether these option types are worth trading. CherryTrade is ideal for those traders that consider them valuable.
To help its customers become successful binary option traders, CherryTrade offers an education center that can teach you the basics of binary option trading. By using a video library or an ebook, you can learn how to handle the trading platform and how to make investment decisions with binary options.
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CherryTrade publishes a daily market update that informs traders about the newest developments in the market. These news allow you to find good trading opportunities without having to monitor the entire market 24/7.
Expert traders might still want to perform their own analysis, but especially newcomers can profit from someone showing them how to analyze and condense the information overload most traders are confronted with.
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CherryTrade offers five different account types. Depending on how much money you deposit with CherryTrade, you will get different conditions. The more money you deposit, the better conditions you get.
The most important steps is the $5,000 mark, which gets you the professional account. The professional account is the second lowest account, only undercut by the basic account. Nonetheless, the professional account gets you CherryTrade’s welcome bonus, which is an invaluable boost to a trader’s success.
CherryTrade offers a large selection of assets, somewhat similar to the list of assets Redwood Options, CherryTrade’s competitor, is offering.
With CherryTrade your can trade:
More than 25 stocks
- America: IBM, Microsoft, Apple, Coca Cola, etc.
- Asia: Nissan, Tata Motors, Turkcell, Sberbank, etc.
- Europe: BAE Systems, BP, Tesco, Rolls Royce, etc.
13 currency pairs
Bitcoin/USD, EUR/GBP, NZD/USD, USD/RUB, etc.
Especially the chance to trade Bitcoin against the US Dollar should be interesting for many trader, since not many of CherryTrade’s competitors offer this possibility and Bitcoin is a highly coveted asset by web-friendly users.
CherryTrade offers all big commodities: Gold, oil, silver, platinum, and even coffee, sugar, and wheat.
For most traders, this selection will be more than sufficient. Some binary brokers also offer smaller and less popular commodities such as copper. Since these commodities are often limited to a very short trading time every day, this really is not much of a loss.
Indices from all over the world
Wherever you live, you can very likely trade your local stock index with CherryTrade. CherryTrade offers big indices such as the Dow Jones, the S&P 500, or the FTSE 100, but also smaller indices such as the ISE 30 (Istanbul), the MSM 30 (Oman), or the Tel Aviv 25. With most other binary brokers, these smaller indeces are hard to find.
Opening an account with CherryTrade is free. All you need to do is click on the big signs you can find on every page of their website and fill out the form with basic personal information – name, email, etc. CherryTrade only takes the information they need, they do not hord data.
The most important thing to get right during that stage of the registration process is selecting the right currency. After you submitted the form, you can no longer change the currency of your account. Since CherryTrade offers 8 different currencies, your chances of finding your home currency are quite good.