Cherry Trade is a leading broker with a binary options copy trading platform.

The Geeks Review Of Cherry Trade Binary Options Copy Trading

Cherry Trade is one of the newest brokers offering iFollow copy trading. It was launched in 2015 and is among a new generation of SpotOption based brokers. The new generation of broker I am referring to is nothing official, merely a group of new and revitalized brands I have noticed. Because of this Cherry Trade and other brands like it will soon move to the forefront of the industry. But you don’t have to take my word for it, there are plenty of other opinions like this cherrytrade review, where you can read what the cherry users are saying.

iFollow, if you are unaware, is the social trading platform provided by SpotOption and the leading source of binary options copy trading. This means that when you choose this broker you are getting a cutting edge platform from a top provider, a combination that adds up to a highly enjoyable trading experience and the opportunity to make money social trading binary options.

Cherry Trade – Not Trusted Broker
Broker/
Approved
Leader Board
/Profiles
Copy Trade
/Forum
Bonus/
Risk Free
Cherry Trade
NO
YES
NO
YES
NO
100%
YES


The Geeks Review Of iFollow Binary Options Copy Trading

iFollow is my favorite platform for copy trading and Cherry Trade uses it to full effect. The platform is available directly from the regular trading platform and begins with a leader board. The leader board ranks all traders using the Cherry Trade platform by win rate and can be filtered by asset, a feature not available with other platforms. This means that you can choose the best trader for each asset and gain diversification as well as maximizing profits. The reason I like iFollow so much is the control it gives to traders through diversification as well as risk management. Spreading small trades around a variety of assets, rather than making large or repeated trades on the same asset, is only way that Cherry Trade provides for you to minimize risk.

iFollow binary options copy trading at Cherry Trade has the best available account management.
iFollow binary options copy trading at Cherry Trade has the best available account management.

The other tools that help you to control risk include the limit settings for each trader you choose to follow. Once you choose a trader you then set the amount of time you want to follow them, the amount you want to make on each trade placed in your account, and the total amount of money that is to be traded. You can follow for as short as one day, a week, two weeks, a month or as long as a year. Trade amounts can be set in increments starting with $50 and going up to $3000 and the total amount to be traded can be as much as $3000 too. A setting of 1 day, $50 per trade with $50 limit would equate to one trade. Move that limit up to $3,000 and then you have the chance of copying up to 60 trades in one day.

Cherry Trade Binary Options Trading

The Platform - You are not limited to copy trading because Cherry Trade also has a well rounded trading platform. Unlike some top brokers they support all of the most popular and most profitable styles of binary options. These include the standard high/low digital option trade, One Touch, Ladder Options and Pairs. Also, as a SpotOption powered broker they have one of the most extensive list of expiries available ranging from ultra short 30 second options all the way out to 12 months on the most heavily traded assets. In between you will find numerous intra-day and other short term expiries. The asset list is also quite full and includes over 200 commonly traded issues.
copy 1 of cherry trade platform
Banking – Depositing is simple but may be the one area where Cherry Trade could improve. They accept credit cards and wire transfers but not eWallets, yet. Regardless, credit card deposits are near instantaneous so you can get started trading right away, a wire may take a week or more depending on circumstances. Either way, you will have to provide the usual identification documents for withdrawal so you may as well get them ready as soon as possible. Withdrawals, the most important part of trading, are pretty fast but may still take up to 2 full weeks to show in your account.

Bonus – Bonuses and risk free trading is also available. First time deposit bonuses vary by account size and other promotions are offered from time to time. The standard bonus requirement is to trade 30X the bonus amount. Risk free trading is also available and what I prefer to a straight bonus. This means that your first five trades are covered with bonus money so if you lose them it will be replaced. This is a nice cushion for newbies and experienced traders that does not entangle you with a full bonus.

I’d like to put my stamp of approval on this one, they look great, have great features and talk a great game. Unfortunately they have received a number of complaints about accounts, withdrawals and pushy managers so I can’t at this time.