CherryTrade is Closed!
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CherryTrade was a binary options broker that opened in 2014. CherryTrade is owned by Website Promotions Ltd, located at The Financial Services Centre, Stoney Ground, Kingstown, Saint Vincent & the Grenadines. Their phone number is: (917) 775-0324. Their email address is firstname.lastname@example.org, and for trader complaints read this.
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CherryTrade Platform Review
CherryTrade uses the latest SpotOption 2.0 platform with over 180 assets available to trader. In addition to 60 second options, long term options and high low, they offer traders Ladder options and Pairs Options. They also offer binary options on commodity futures like coffee, corn, & wheat.
For Forex traders they offer options on major currency pairs and also many smaller currency pairs, like the Singapore Dollar, the Rand, the Turkish Lira, and Russian Ruble! They offer 30 second, 60 second and 120 second options. The minimum deposit for new accounts is only $200.
When the scam broker investigator reviews a binary options broker to determine if it is a scam or a legit binary options broker, we want to know if a regulator like the CySEC in Cyprus gave them a license and they fall under the MIFId rules in Europe. Are they registered with the FCA in England or the FSBR in New Zealand.
While reviewing CherryTrade, we see that they are not regulated by CySEC.
On June 6th 2013 the US SEC wrote an investor alert regarding binary option scam brokers. Read entire alert on the SEC website here.