Are you looking to start a binary option trading career on a limited budget? Then the CherryTrade minimum deposit is exactly what you need: Low minimum deposit requirements.
CherryTrade allows you to start your trading career on a smaller investment than most other binary option brokers. While most of CherryTrade’s competitors require a minimum deposit of $500 or more, you can start your trading career with CherryTrade for only $200.
For any trader who is short on cash, this is a huge advantage. Instead of having to stand on the sideline, watching other traders make money and the rich get richer, you can now enter the ring yourself and profit from binary options.
Similarly, if you are unsure whether binary options are right for you, you can now test the waters with much less risk than if you were forced to invest 150% more than you need to invest with CherryTrade. For both types of traders CherryTrade is the ideal type of broker.
However, even if you have the $500 to invest with another broker or more, CherryTrade has a lot to offer for you. As every other binary option broker, CherryTrade uses an account model. Traders with more money in their accounts get a better account type and more perks.
Because CherryTrade allows you to start trading with less money than their competitors, all of CherryTrade’s accounts are available for less money than the accounts of other binary option brokers.
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For a deposit of $500, the minimum deposit of many other brokers, you already get the second account type with CherryTrade, the bronze account. After that, the steps to increase your account are much smaller than with CherryTrade’s competitors:
For $1,000, you can get the silver account, CherryTrade’s most popular trading account, targeting medium level traders and providing a deposit bonus of 50%. To get such a high account type and deposit bonus requires a minimum deposit of $5,000 or more with most other brokers.
A minimum deposit of $5,000 gets you the gold account with CherryTrade and a deposit bonus of 75%.
Starting with a minimum deposit of $10,000, you get CherryTrade’s highest account type, the platinum account, and a deposit bonus of 100%. Other brokers often require you to deposit $50,000 before they allow you to use their highest account types.