Cherrytrade review – Binary Options Broker TEST

Best Binary Options Brokers 2020:
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Trusted Review 2020

Table of Contents

Is a trusted online broker or a scam? – We will find out in this review and give you a professional overview of the company. is a well-known Forex Broker for international investments. Since 2000 the company got a track record in online trading. In the next sections, we will show you how the platform works and find out if you should invest your money or not.

Official website

Platform available for any device

Professional trading interface

Huge range of payment methods

Review: (5 / 5)
Regulation: VFSC, FSC, FSA
Demo account: ✔ Free
Minimum deposit: 5$
Minimum trade: 1$
Markets: Forex, Cryptocurrencies, Metals, Commodities, Indices, Volatility Indices
Products: Binary Options, Forex, Crypto, CFDs,
Yield: up to 100%+, 1000% on higher/lower and touch/no-touch trades
Support: 24/5 phone, chat, email in different languages

(Risk warning: Your capital is at risk)

Is regulated?

Before you sign up with any online broker you should check if the company is official regulated. This is the most important point to check and we will discuss it in the first section. Regulation means safety for the trader. On the internet, there are brokers which operate illegally and try to scam their customers. In order to invest in a serious company, there should be regulation.

A regulation shows trust and safety because the company has to be legal and act under certain laws of the regulatory authority. is a licensed and regulated trading platform which is active since 1999. Different subsidiaries belong to the holding Binary Limited. This company is multi regulated and got different licenses.

Binary Investments (Europe) Ltd

Binary Investments Ltd is regulated by the Malta Financial Service Authority (MFSA) with the license number IS/70156. The company is allowed to provide its service in every European country. The company address is W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta.

Binary (SVG) Ltd

Binary (SVG) Ltd is registered with the company number 25299 BC 2020. International clients who want to trade Binary Options trade under this license. The address is Hinds Buildings, Kingstown, St. Vincent and the Grenadines.

Binary (V) Ltd

Binary (V) Ltd is regulated by the Vanuatu Financial Service Commission (VFSC). International clients who are trading forex and CFDs in the MetaTrader 5 are managed under this license. The address is Govant Building, Port Vila, PO Box 1276, Vanuatu, Republic of Vanuatu.

Binary (BVI) Ltd

Binary (BVI) Ltd is regulated by the British Virgin Islands Financial Service Commission and customers for the forex and CFD MetaTrader 5 are under this license. The address is Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands.

Binary (FX) Ltd

Binary (FX) Ltd is regulated by the Labuan Financial Service Authority in Malaysia. MetaTrader 5 clients are served by this license, too. The address is Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Federal Territory of Labuan.

In conclusion, is a multi-regulated company and broker which accepts international clients. Fraud can be excluded by a view on these licenses. From our experience, shows that more than 1 regulation is not enough and now they are a highly trusted online broker.

Financial security: Is safe for traders?

Financial security:

How safe is the trading platform? – We checked the financial security for traders and got very good results. only uses regulated payment methods for deposits and withdrawals. You can be sure that the money will be credited to your trading account and the withdrawals are working correctly.

Furthermore, the funds of the clients are managed in secure and licensed financial institutions. The broker does not use your money to do investments or hedge positions. Any time you got the full access to your account balance.

Security of the platform and account:

With you can get very high account security. There are different options available which we want to present to you in this section. First of all, traders can enable two-factor authentication for the account. This is additional security because it is nearly impossible to hack your account. Before you login, you have to confirm the login with another device.

Also, Binary. com provides a clear login history of your account. You can set up a cashier lock password to secure your deposits and withdrawals. All in all, provides very good safety features for traders. From our experience, it is a very safe platform. (See the picture below for all features)

What is behind – History of the company was founded in 1999 by collecting investor’s money from a HongKong based fund management company. In 2000 the company goes live with the old name “” and “”. Since this time the company achieved different milestones and attract a rising customer base.

On the website, you can clearly see the group history which is very amazing. The company expanded internationally and collected different licenses for financial trading to serve clients from over the world. In addition, their platform is patented in the USA for the pioneer of Binary Options trading (Wikipedia).

2020 the company changed the name into “” and reached a turnover in 2020 of 2 billion USD since 1999. More and more customers want to trade with because the platform is unique and offers very good conditions. Nowadays, manages offices in Japan, Kuala Lumpur, Dubai, Paraguay, and more countries.

In 2020 there are more than 100,000 active clients on the platform and the numbers are still growing. In conclusion, is a very trusted broker in the trading industry which is leading the binary trading section. The broker is growing continuously because of the good conditions and unique trading platform. The company always adds new features and opportunities to invest in the financial markets.

Facts about the company:

  • Founded in 1999
  • International offices and licenses
  • Rising customer base
  • Unique and patented trading platform
  • Global awards

How to open an account with

It is quite simple to open a trading account with You can sign up with your email address or social profile (Google and Facebook). The process is done in a few seconds and you get direct access to the trading platform. Now you can use the demo account with virtual money or continue the registration process.

Open your free account

The account opening is free for any trader. There are no hidden fees or commissions for you:

(Risk warning: Your capital is at risk)

Important verification process

For trading with real money and full access to all functions of the trading platform, verification is needed. You have to fulfill your account profile and upload personal documents that are checked by It depends on your country of residence which documents the broker needs to check your identity. can request a copy of your passport and utility bill.

The account setup is done in a few minutes. Just insert your personal data and upload the requested documents. will confirm the profile within 24 hours. We recommend doing a full account setup before you start trading with real money.

Verification of your identity:

  • As regulated Forex Broker, the company have to check your identity
  • Documents can be requested by
  • The account setup depends on you country of residence
  • Upload the requested documents
  • The full account setup take few minutes time
  • We recommend doing the verification before trading with real money

Use the free demo account

One of the most important tools on the trading platform is the demo account (virtual account). It is an account with virtual money (10,000$). This account allows you to test the platform without risk. provides this account for free and you can switch between the real money and virtual money with only one click.

We recommend to any new user who wants to trade with to use the demo account first. Check out the platform and open your first traders. Before you invest real money you should know how it works to trade and how to manage the trading platform. In addition, the demo account can be used to develop trading strategies and test new markets.

In conclusion, offers a free demo account like any other broker. You can start trading without risk and test the platform by yourself. If you make a loss it is possible to deposit (recharge) the account.

Advantages of the demo account:

  • Use it for free
  • Test the platform without risk
  • Develope trading strategies
  • Try out new markets
  • Recharge the demo account with one click

Demo account vs. real account trading

Are the differences between the demo account and the real account? – From our experience, the execution of trades is very fast in the demo account like in the real money account. There are no differences between these two account types. You will get the same conditions.

In fact, real money trading can be more difficult because you will act differently like it is virtual money. The key to success is to learn to trade without emotions like in the demo account. As professional traders we recommend it to use the demo account like the real money account to gain the best experience in trading.

Payment methods for the account funding:

As you see on the official homepage of there are more than 15 payment methods available for deposit and withdrawals. It is easy to fund your account. You can use different electronic methods or classic bank transfer.

Sometimes the payment method can depend on your country of residence. So do not be surprised if there are more or fewer payment methods available than in the list below or picture above. Note that the minimum deposit is 5$ with e-wallets but with other payment methods it can be higher.

Facts about the payment methods:

  • Minimum deposit 5$
  • No fees
  • Credit Cards
  • Electronic wallets (Neteller, Skrill, Qiwi, WebMoney, and more)
  • Bank Transfer
  • Instant deposits
  • Withdrawals in 1 working day
  • Cryptocurrencies

How to deposit on

To do a deposit on go to the cashier menu and click on deposit. You only can deposit if your personal detail is approved by the broker.

You can deposit in different currencies. Also, cryptocurrency accounts are available with If you make a mistake by setting the currency it is possible to change it afterward.

Deposit checklist:

  1. Make sure your personal details are confirmed by the broker
  2. Go to the cashier menu
  3. Click on deposit
  4. Choose the payment method for the deposit

How to do the withdrawal:

The withdrawals are easy as the deposits with the broker In the cashier menu, you can choose “withdraw” to pay out your earned money. Note that you can set up a different security password for the cashier menu.

From our experience, the withdrawals are very fast. Within one day the withdrawal is processed. You will get an email if it is processed. Sometimes it can happen in a few hours. On the other side, the process can be longer if the broker requests additional documents from you. All in all, the deposits and withdrawals are working correctly and free from interference.

Offers for traders: Review of the trading conditions

Before we show you the full information about the trading platforms of we have to talk about the offers and conditions for traders. As you know is a Binary Options, Forex, and CFD Broker. In this section, we will give you a detailed overview of “what you can trade on the platforms”.

The minimum deposit is only 5$ and you can try out the free virtual account. The virtual account is the best way to test the trading platform. There are more than 100 different assets available by Cryptocurrencies, indices, commodities, currencies, or volatility indexes are tradeable. In addition, you can choose between different currencies for your real account balance or using cryptocurrencies.

The maximum return of investment for Binary Options is 100%+ and the maximum leverage for Forex and CFDs is up to 1:500. From our experience, there are no direct fees on the platform. Sometimes it can happen that your payment provider charges fees for deposit or withdrawal.

Trading conditions:

  • Return of investments up to 100%+ (Binary Options)
  • Leverage up to 1:500 (Forex and CFD)
  • More than 100 different markets
  • Minimum deposit 5$
  • Free demo account
  • Low fees compared to other brokers
  • High liquidity

(Risk warning: Your capital is at risk)

Test of the trading platforms

For professional online trading, offers 6 different trading platforms. This software is even available as an app (mobile trading). The platforms are designed for a variety of purposes and the trader can choose from. As mentioned before it is possible to trade different financial products with You can not trade all financial products on one platform.

From our experience, the platforms are very clearly designed and easy to use. They are for beginners and advanced traders. Besides, the well-known MetaTrader 5 is available for Forex and CFD trading. Automated trading can be processed by the Binary Bot which is a very unique platform. We will discuss the trading platforms in detail.

Trading platforms:

  • SmartTrader for Binary Options and Touch Options
  • WebTrader for Binary Options and Touch Options
  • Binary Bot for automated Binary Options
  • MetaTrader 5 for Forex and CFD trading
  • Deriv for Binary Options (beta version)
  • Binary Grid for the best mobile trading with Binary Options


The SmartTrader is a reliable trading platform for Binary Options. You can trade options with different expiry times, investments, and on rising or falling prices. In the picture above you see a screenshot of the order mask. For chart analysis, you have to look below. The design is very clear and the beginner should feel comfortable. In the following section, we will explain how to trade too.

For charting, you can use the chart below the order mask. offers the tools which a trader needs for his success. You can change the timeframes and chart types.

Chart types:

For the chart analysis you can use indicators, drawing tools, comparisons between assets, or fundamental data. By a few clicks you can insert the indicator you want and customize it. In conclusion, the SmartTrader which is recommended for beginners offers all tools for professional and sucessfull trading.

How to trade Binary Options?

Binary Options is not a complex financial product. Compared to other financial product traders understand it very fast how it works. The features of Binary Options are clear and limited. Before you open a position you know the possible return of investment, your possible loss, the time duration and the direction of the trade.

Binary Options:

  • Rise/Fall (classic and most popular)
  • Higher/Lower
  • Touch/No Touch
  • Ends Between/Ends Outside
  • Stays Between/Goes Outside

Binary Options can be traded on currencies (Forex), indices, commodities, and volatility indices. Before you start trading you can customize your trading contract. The Binary Options is a contract between the trader and the broker.

Features of Binary Options:

  • Start Time
  • Duration (ticks, minutes, hours, days)
  • Investment (starting 1$)
  • Allow equals or not
  • Trade higher or lower

We recommend to do some test trades with the demo account before trading with real money. You should understand the financial product completly before real investments. The next picture will give you a deeper look in it.

In the picture above you see that you can invest in rising or falling markets. For “Higher” trades the exit spot has to be above your entry point and for “Lower” trades the exit spot has to be below your entry point. Just make a forecast of the market and start the trade.

Exit Spot:

For Binary Options only the exit spot is important. When the expiry time is over the price will be checked and you will get the payout or not. The yield can be up to 100%+. It does not matter if the price goes above or below within the contract duration.

All in all, Binary Options are very simple to trade. It is a popular financial product because you can earn a very high payout within a short period.

(Risk warning: Your capital is at risk)


If you want to do more advanced trading you have to choose the WebTrader. This software allows you multi-charting and a full-screen mode. More features are available on the platform. You can customize your trading window as you want.

Traders can choose in the upper menu between trade, chart, resources, and workspace to customize the platform. As you see in the picture above you can open different windows at the same time. This is a multifunctional feature and allows you to make a deeper market analysis. In the next point, we will give you a quick overview of the functions.


  • Open the order mask for your markets
  • Forex
  • Indices
  • Commodities
  • Volatility Indices


  • Open the chart for your markets
  • Forex
  • Indices
  • Commodities
  • Volatility Indices


  • Make a deeper analysis
  • Asset Index
  • Trading Times
  • Historical Data
  • Chart Themes


  • Manage the charts
  • Arrange the windows
  • Close All

As you see in the points above you got a whole bunch of options for your trading style to customize. From our experience, the WebTrader is the best platform for Binary Options trading and better than the SmartTrader.

Binary Bot:

The Binary Bot is a unique feature of Most brokers do not allow automated trading on their platforms or it is not possible because the features are missing. provides software where you can program your own automated system for trading Binary Options.

For the first impression, the Binary Bot is not a trading platform for beginners. You need knowledge, math, and programming skills. In addition, your strategy should work successfully. It is possible to create an automated system with any trading strategy by the Binary Bot. You can use math and logic commands on the software. will help you to program a system. There are some tutorials and knowledge about it. For further knowledge, you can read on the internet about automated trading or buy some programming books. The language of the Binary Bot is very easy but very hard to understand for beginners.

Create your Binary Bot

How does the Binary Bot work?

To create you automated trading system you have to open the right menu (red marked). There are different building blocks which you can insert in your system. There are mathematic and logic building blocks. Also, text programming can be used to create functions. If you inserted the block you can customize it like you want.

If you created the Binary Bot you can start to backtest it and improve the results by changing the system with a few clicks. The Binary Bot is clearly a huge advantage against other Forex Brokers because it is very easy to create an automated system. provides you all the functions you need to create your system.

MetaTrader 5:

MetaTrader 5 is the most popular software worldwide for online trading. A lot of brokers offer this software because it is developed independently by programmers. Brokers are paying licenses for this software. The MetaTrader is available for your computer and mobile phone. You can create the account with and download the program.

Moreover, MetaTrader 5 is a highly customizable software too. You can customize the chart as you want and using different tools. The software is supporting Forex and CFD Trading. 1-click trading even as automated trading is possible. There are a lot of different tools that you can individualize.

For traders who want to program their own indicators or automated systems, you can insert them easily in the software. The MetaTrader is enjoyed by millions of traders and it is from our experience the best software for forex and CFD trading.

Advantages of the MetaTrader 5:

  • Available for any device
  • Automated trading supported
  • Customizeable
  • Indicators and drawing tools
  • Chart types
  • Insert extern programs and indicators
  • Professional portfolio management


Deriv is a web-based online trading platform where you can trade Binary Options. Compared to the SmartTrader and WebTrader the design is a little bit different and known from other Binary Options Brokers. You see the chart which is customizable and next to it you see the orde mask.

Like the other platforms, you can customize the chart as you want. There are not so many differences between the platforms. We recommend to try out each platform by using the virtual account. The Deriv app is still in the development process. So it can be that will add new features soon.

Mobile Trading with the App

Mobile Trading is very important today. The customer base who trades with mobile devices is rising continuously. offers different apps for Android and Apple (iOS) devices. You can download the on their platform. apps:

  • Tick Trade App
  • MetaTrader 5 for mobile devices
  • Binary Grid App MetaTrader 5 App

The mobile apps are professionally designed and allow you to trade the financial markets with your mobile phone or tablet. Similar to the web-based platforms you can use indicators and analysis tools. With the mobile app, you always can check your portfolio. Another advantage of mobile trading is that you can react immediately to political decisions or news. In conclusion, offers professional and reliable trading platforms for trading Binary Options, Forex, CFDs, indices, and cryptocurrencies.

(Risk warning: Your capital is at risk)

Support for traders

Which type of support can you expect from – There is a phone, email, and chat support for traders. Also, you can get in touch with the broker via Youtube, Facebook, Twitter, or Telegram. More than 10 different languages are available because the company manages international employes and offices. The website is translated into 11 different languages

The support works 24 hours on regular working days and responds very professional to my questions. If you got questions you can contact them or read through the help articles. Moreover, there is an intelligent support system where you can insert your questions and get the right answers very quickly.

Support: Available: Languages: Languages:
Phone, Chat, Email 24/5 on working days More than 10 +44 800 011 9847 (Toll-Free) (UK)

Service for traders: Education and learning material

Furthermore there is a diverse learning center for every customer of It is suitable for beginners and advanced traders. The variety of free offers is huge and we will show you what you can learn in this section.

To get access to the academy you have to open your free account with Deposits are not necessary for access to the academy. There are different offers like webinars, trading signals, beginner tutorials, e-books, and market updates. You can learn how to trade with educational videos. Also, next on the platform, you will find direct explanations of the financial products which will help you to understand it.

From our experience, wants the success of its traders. If the trader is successful the broker can earn more revenue because the trader will continue to trade forever. There is a very good educational material to improve your trading skills. You should no miss the education center.

Learning material of

  • Live Webinars
  • Weekly Trading Signals
  • Beginner tutorials
  • E-Books
  • Security Tips
  • Educational Videos

Conclusion of the review: Legit company and online broker?

All in all, is the leading broker for option trading. In addition, you can trade Forex and CFDs with the MetaTrader 5 Platform. The company offers you a huge range of investment possibilities which we recommend to test by using the demo account.

The minimum deposit is very low by 5$ and you can start investing with only 1$ per trade. There are no limits for bigger trades. attracts any type of trader because of its good offers. Next to the professional trading platforms, you can use legal automated trading which is compared to other Forex Brokers a big advantage.

Furthermore, company history shows us that is a trusted and reliable broker. The company expands continuously and implement new features. It is a fully regulated broker which we recommend to trade with.

Advantages of

  • Multi-regulated company
  • Small minimum deposit of 5$
  • Free demo account
  • No hidden fees
  • Return of investments up to 100%+
  • Forex and CFD Trading
  • Professional trading platforms
  • Automated trading

CherryTrade Review


Introduction CherryTrade is a binary options brand owned and operated by Redtulips Consultants Ltd. The company was founded in 2020, but began offering services in March 2020. Its headquarters are […]

Full Review Details

Broker CherryTrade
Website URL NEW
Founded 2020
Headquarters 1A, Arcade House Temple Fortune, London NW11 7TL.
Support Number US +1-91-7775-0354
Support Types Telephone, Live Support, Contact Form
Languages English, Arabic
Minimum 1st Deposit $200
Minimum Account Size $200
Minimum Trade Amount $5
Bonus Up to 100% on Deposit
Payout Up to 81%
Free Demo Account
Fee Info $30 On Wire Transfers (Withdrawals)
Account Types Basic, Professional, Expert, VIP, Corporate
Deposit Methods eWallet, CashU , Maestro , Credit Card , Wire Transfer
Withdrawal Methods Credit Card , Wire Transfer
Number of Assets 60
Expiry Times 30s, 60, 2m, 5m, 15, 30, 1h, 2h, 4h, 8h, 12h, 1d, 2d, 3d, 4d, 5d, 7d, Monthly
Types of Assets Currencies, Commodities, Stocks, Indices
Option Types Binary Options, Pairs, Long Term, 60 Seconds, One Touch, Ladder, IFollow
Account Currency GBP, EUR, USD, CAD, AUD
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 80


  • High Payouts
  • Multiple Trading Types
  • Several Trading Materials
  • Trade on-the-go
  • Few Languages
  • No Demo
  • Fee on Wire Transfers (Withdrawals)
  • No 24/7 Support
  • No Support Email

Full Review


CherryTrade is a binary options brand owned and operated by Redtulips Consultants Ltd. The company was founded in 2020, but began offering services in March 2020. Its headquarters are located at 1A, Arcade House Temple Fortune, London NW11 7TL.

CherryTrade is one of the few binary options brokers that U.S binary options traders can turn to. The company’s binary options trading platform is 100% web-based, which means no need for software installation.

Bonuses and Offers

CherryTrade does reward its new and regular clients with various forms of promotion including bonuses and one-time trading credits on occasional basis.

Clients cannot withdraw their bonuses unless they reach a trading volume equivalent to 30 times the size of the bonus. So if your bonus is $100, then you will be required to reach a trading volume of $3,000 in order to withdraw the $100 bonus.

In addition, clients cannot make any withdrawal of funds from their account before the above requirement is met. Failure to comply would result in the cancellation of the bonus amount, thereby deducting your account balance.

Account Types

CherryTrade has five classifications on trading accounts ranked by the level of deposit amount.

  • Basic: This type of account is composed of trades with deposits not exceeding $1,000. It has no promotions, which means no opening bonus.
  • Professional: This account represents traders with deposits capped at $5,000 and qualifies for promotions.
  • Expert: In order to have an Expert account, traders are required to deposit more than $5,000 and less than $10,000. It also qualifies for promotions.
  • VIP: This type of account attracts deposits that are more than $10,000 all the way to $25,000. Promotions are active.
  • Corporate: Any account with deposits exceeding $25,000 is ranked as corporate.

Trade Types

CherryTrade has nearly all types of binary options available for trading on its platform. Whether you are looking for the long-term type or the minute by minute options, CherryTrade has got you covered.

  • Call/Put Binary Options: Trade the classical call/put binary options and stand a chance to win up to 81% in payout.
  • Pairs: Compare two related assets in terms of performance and make you pick by predicting the one you think will outperform the other by the time the option expires. (Currently Unavailable)
  • Long Term: Some traders prefer trading in long term by timing major market events. These binary options provide you with that opportunity with expiry periods ranging from one day, 7 days as well as monthly.
  • Sixty Seconds: The opposite of long term is super short term. Traders can turn in profits by the minute by trading the 60 seconds binary options. With these they can invest as little as $5 per trade.
  • One Touch: Now, if you are the type that prefers limited trading with maximum payouts, the “One Touch” is ideal, as this type of binary options provides traders with the opportunity to make up to 500% in payouts. All you have to do is predict whether the price of the underlying security will reach a certain level at least once within a week.
  • Ladder: With Ladder options, traders have another opportunity to make massive profits. Here the payout increases as the price of the underlying security continues to drift towards your predicted direction. The broker has identified levels that are marked. Payout up to 500%.
  • IFollow: This is more like copy trading. Here traders can invest an amount $100 and set it to follow a certain trader (normally the very successful ones) for one week. At the end of the week, the rate of return of the trader you choose to follow will be your rate of return on your investment.

Asset Index

  • Stocks: IBM, Microsoft, Apple, BAE Systems (London), BP plc, Citigroup, Coca Cola, Gazprom (Russia), HSBC Holdings (London), Lukoil (Russia), Nike, Nissan Motor, Reuters (US), Rolls Royce, SBERBANK (Russia), TATA Motors (India), TESCO, TEVA.TA, TURKCELL (Turkey)
  • Commodities: Coffee, Gold, Crude Oil, Platinum, Sugar, Silver, Wheat
  • Indices: Bombay SE, CAC 40, DAX, Dow, Dubai Financial Market General Index, FTSE 100, Hand Seng, ISE 30 (Istanbul Stock Exchange), KL Future, Kuwait General Index, MICEX 10 (Moscow), MSM 30 (Oman), NASDAQ, Nikkei 225, RTS (Moscow), S&P 500, SSE 180 (Shanghai), TADAWUL (Saudi Stock Exchange), Tel Aviv 25, TOPIX

Trading Tools

CherryTrade has taken a big step towards making sure that its clients are well informed whenever they make that prediction of where the price of the underlying asset is likely head.

The company’s binary options trading platform has prepared trading materials such as guides on binary options as well as the usage and navigation across the platform.

CherryTrade has also created several videos with various lessons about binary options trading with some focusing on the basic stuff while others are typically made for advanced traders. Therefore, even those with knowledge about binary options can still learn something from CherryTrade’s trading videos.

The company has also written an eBook which can be used as reference point by binary options traders, both beginners and advanced when doing trading, or better still in sharpening their trading skills.

CherryTrade has launched iOS and Android apps for traders to download from the App store and Google Play respectively, thereby enabling trading on-the-go, a key feature in today’s financial markets.

Deposits and Withdrawals


At CherryTrade, traders can deposit funds in their account via three methods which include bank wire transfer, Credit/Debit card (Visa, Visa Electron, Diners, Maestro, Maestro UK (Switch), Solo, Delta and Master Card) or the various electronic payment methods e.g CashU, eWallet, among others.

The minimum deposit is $200 or EUR200, GBP200 AUD200 and CAD200. The maximum deposit via credit card is $5,000, while for wire transfers there is no limit. The minimum deposit via wire transfer is $500, any deposit less than $500 attracts $25 fee charge.


Traders can withdraw a minimum of $100. All withdrawals via Credit/debit card are done free, while wire transfers attract a $30 charge per withdrawal.

Withdrawals to a credit card can only be done to the same credit card used to deposit the money. Also the total amount withdrawn cannot surpass the total amount invested. All additional funds are withdrawn via bank transfer.

Withdrawal processing takes 5-7 days, and after that it depends on the withdrawal method and location of the trader’s bank.


Traders can contact CherryTrade support via three avenues which include telephone, contact form and live support.

Live Support: This is available from 6:00 to 21:00 GMT Sunday through Friday

Contact Form: Filled online

Telephone: US +1-91-7775-0354

Get free life-time access our signals when you sign up and deposit with any of our recommended brokers.

Binary Options Brokers

We have done the research for you, and tested the most popular binary options brokers.

If you are looking for the best binary options brokers, then check out the list below.

Is Binary Options Available in my Country?

Unfortunately, binary options was been banned in some countries. See the table below to find out if it’s still available in your country. If binary options trading is not available, then we will show you which is the best alternative.

Country Binary Options Available? Broker Info Best Broker
NO Trade stocks, indices, currencies. eToro (visit site)
YES Regulated US Binary Broker Nadex (visit site)
YES Regulated AU Binary Broker HighLow (visit site)
NO Trade stocks, indices, currencies. n/a
Mostly YES Binary Broker for non-EU/US/AU/CA traders IQ Option (visit site)

There are some brokers claiming that they accept all countries. Those are probably scams.

Top Rated Binary Options Brokers

It is very important that you sign up with a trusted binary options broker.

Our visitors asked us: “Which is the best binary options broker?

On this page we will answer that for you (this guide was updated on April, 2020). Keep in mind that this list changes all the time and we update it frequently. The top list contains the most important information about each broker, but you also have the option to read our in-depth reviews as well.

Here is a list with the top rated brokers for binary options trading:

Rank Broker Min. Deposit Max Returns* Features Trade**
$50 200% + $50 Cashback TRADE NOWREAD REVIEW

* Credited in case of successful trade
** RISK WARNING: Capital might be at risk

The list above is only available for non-US traders. If you are from the US, then please visit our US Binary Options Brokers page.

All brokers in this list are safe, secure, legitimate and reputable sites. These are the best binary options brokers, in our opinion.

For new traders, it’s not easy to find the best binary options broker. There are hundreds to binary options brokers on the internet (and more and more are opened every day).

Best Binary Options Brokers

The following brokers are from non-EU and non US traders only:

HighLow is one of the safest brokers. They have an Australian ASIC license which is really hard to get. In fact there are only 2 brokers that have this license. HighLow has payouts up to 200% and great deposit bonuses. Visit HighLow

24Option unfortunately stopped accepting binary option traders. They are regulated by Cysec and they are the safest broker at the moment. Their headquarter is in Cyprus however they also have offices in London,UK. Visit 24Option

Best US Binary Options Brokers

The only US brand we really recommend is Nadex. They are the only regulated brand in the US.

US traders have a hard time picking a good binary options broker. For this reason we have created a special page with all US binary options brokers. There are only a few brokers that accept US investors, however there are still a few ones. See here:

Nadex is currently the only US broker that we recommend. They are regulated in the US and part of the IG brand.Visit Nadex

US Brokers That We Don’t Recommend

We’ve seen mixed reviews about these brands. We have not seen proof that these brokers are scam, but we cannot recommend them either.

Finrally has been the #1 US broker for a long time. They offer an incredible 90% payout, which is one of the highest in the industry. Unfortunately they have recently stopped accepting paypal deposits, however there are still many other payment methods accepted. Finrally accepts traders from all around the world and is one of the top binary options brokers. Visit Finrally

BinaryMate accepts US traders as well and their payout is ever higher: 95%. BinaryMate has the best live chat support from all brokers. In fact all traders are greeted by a nice person via live chat upon accessing the homepage. Visit BinaryMate

How To Pick A Binary Options Broker?

I’ve been trading binary options for quite some time. In my opinion this is what you should be looking for, when searching for a broker:

  • Safety: this is probably the most important factor when choosing a binary options broker. We’ve had enough of the scam brokers who make false promises. We are all looking for the safest and most secure trading platforms.
  • Banking: some brokers make it so hard to deposit or withdraw money. They either don’t accept your preferred payment method, or don’t send you the withdrawal on time. Simple and secure banking options are really important.
  • Reviews: when doing research, not only do we try out some of these brokers, but we also read the reviews of other traders and sites. We combine all these reviews to create and up-to-date unbiased review for our visitors. This can you will find the best information on one page instead of checking tens of other sites and forums.
  • Licenses and Regulations: when looking for the best binary options broker, we also look at their licenses and regulations. A regulated broker is always safer then an unregulated one, even though there are pretty good unregulated brokers as well. If you are from the US, you will want to choose a CFTC regulated exchange.
  • Platform: Traders need an easy to use trading platform that is simple and intuitive, with many functions.
  • Customer Support: When you have a question, the customer support is always there for you. However it’s important that you get an answer soon, and don’t have to wait for it for days. Live chat is a great method to contact the support team, but not all broker offer this feature.

Real Money Binary Options Brokers

You have already made the very first step to becoming a successful investor. You did your research and now you know, which broker is best for you. When choosing the best broker, you should also check out the deposit bonuses they offer.

All brokers offer some kind of depositor bonus: 30% first deposit bonus, 100% bonus, Risk Free Trades or trading signals. You should pick wisely and always read the terms and conditions before accepting any bonus from the brokers.

Some the brokers mentioned above were rated the top minimum deposit binary options brokers.

What Our Readers Asked

Yes. You can really make money with binary options. All you have to do is to register with a safe broker and have a winning strategy.

This depends on your country. In most countries, binary options trading is legal.

Binary options trading is only safe with a licensed and legit broker. However, all investment types are risky.

Binary Options Broker Reputation

One of the most important factors is the broker reputation. You want to trade on a platform that has a positive reputation. The best binary options brokers have a good reputation, while others have a really bad reputation and are even considered scam.

You need a broker that is safe and trustworthy. Never deposit money on a broker that has been in business for a short time. Always pick the brokers that have a clean business history.

Best Binary Options Brokers 2020:
  • Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo

    Only For Experienced Traders!

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