CherryTrade FAQ – Speaking with a New SpotOption Broker, Again!

5 Questions by, CherryTrade Live Chat Support Representative Answers


“Andrew: Welcome to CherryTrade Live Chat! My name is Andrew.  How may I assist you today?”


1. What Makes CherryTrade Different Than Other Brokers?

“…CherryTrade is one of the only Binary Options trading platforms to offer advice and trading strategies. You are able to receive one on one trading advice with our professional Market Analysts and take part in our unique trading academy. Cherry Trade offers different levels of trading lessons depending on the type of account chosen. We also offer an in-house semi-automatic trader called the iFollow, which lets you copy the traders of professional traders right here on the platform, it is not a bot which uses formulas to make trades, but real professional analysts…”



2. What Binary Options Trading Education CherryTrade Offers For Newbies?

“…We have an educational page right here for our clients, which has many instructional videos and tutorials for a wide variety of trader levels…We provide you with a professional broker to help you out with starting to trade and he can also provide you some trading strategies and mind sets. In our Academy department we offer you a wide variety of more in-depth lessons of trading and the markets…”



3. Is there any bonus program for new clients on CherryTrade? How big is the bonus wager?

“…If you choose to receive a bonus, there are different requirements for different sizes of bonuses. Since I’m not an account manager I cannot offer you the specifics of bonuses or welcome offers since we tailor them specifically to you…”



4. What Documents Do I Need To Provide In Order To Withdraw? And How Much Time Will It Take To Receive My Profits?

“…We require a government issued photo ID, utility bill with your name and address on it as well as a copy of the card you used to fund your account…For your own security, please cover the first 12 numbers of the credit card and the CVV code on the back…Documents should be clear and in color and emailed to [email protected]…The verification procedure is between 2-3 business days, and the withdrawal can be expected to arrive within 5-7 business days…”



5. Do you offer demo accounts to your clients?

“…Unfortunately, at this time, demo accounts are not being offered. We believe isn’t necessary and only makes our clients develop bad habits, since they are not attached to the money they use and simply learn to gamble it more easily…”



My Overall Impression with CherryTrade Live Chat

CherryTrade is definitely interesting new broker under the SpotOption brand. That’s why we were interested to make a conversation with their representative. The chat was usual but with quite fast and detailed answers. It was interesting to hear about their semi-automatic trading feature called the iFollow, which lets you copy trades. Although I am not sure how it can be used in practice, it is something to point out. We need more customer reviews and information to access this broker and how genuine it is, but it is for sure we will keep close attention on CherryTrade in the future.


Visit the Complete CherryTrade Review by Martin Kay.


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