cherrytrade-logoIt’s rare we find a new broker we can add to our recommended list here on Binary Options Blacklist, and even fewer that we can add to our US binary option brokers page. Recently one has come to our attention that is well worth a look. CherryTrade on first glance appears to be a pretty typical SpotOption white label broker, but if you look closer, you will see they have many excellent features which help them to stand out from the crowd. They accept traders from the USA, and appear to be one of better choices out there for the American crowd. Of course, they also cater to traders from around the globe.

  • Official Website:
  • HQ: Gibraltrar
  • Phone: 917-775-0324
  • USA Traders no longer accepted due to Spot Options withdrawal from the US market effective 9/14/15
  • Trading Platform: SpotOption
  • Not regulated (no CYSEC Regulation).

Is CherryTrade A Scam? – Legit Or Not? (They are Legit)

While CherryTrade is not a regulated binary options broker, we have no reason to believe they are a scam. We searched specifically for complaints on this broker and have so far found none that are any different. What we have found are numerous good reviews, and a company whith transparent, reliable service to traders everywhere. is Approved

As always, scroll to the bottom of this review for trader comments, feedback and complaints from actual traders. If you have good or bad experiences with Cherry Trade please leave your comments and ratings on this page so others can learn if they are legit, safe and a quality binary option broker.

Is CherryTrade right for you?
Let’s have a look at the deposit and withdrawal terms, types of options you can trade, asset index, and pros and cons so you can make an informed decision.

Deposit Info – Minimum CherryTrade Deposit

  • Start trading with $200.
  • Deposit methods: Credit or debit card, wire transfer, Skrill, CashU
  • Trade in EUR, USD, GBP, JPY, CAD, AUD, RUB or SEK
  • Up to a 100% match bonus

Those are a lot of different account currencies for you to choose from when depositing. There are not a lot of brokers offering SEK or RUB, so that is excellent if you are Scandinavian or Russian. Anything else you should know about depositing and withdrawing? The minimum withdrawal threshold is $100. There thankfully is not much to worry about in the way of fees; bank transfer fees are $30, and wire transfers under $500 will be charged a $25 fee; these are pretty typical of binary options brokers anywhere.

The new account tiers include Basic, Professional, Expert, VIP and Corporate (they used to have different names). There is no bonus unless you deposit more than $1,000 and open a Professional level account or higher. Previously this page listed additional benefits, like personal account management, auto trading signals, and free weekly training sessions. These resources are in all likelihood still being offered, along with the free resources you will find in the Education section. There you can read a trading eBook and how-to articles, or watch video tutorials from the library.

Types of Binary Options Available

  • High/Low
  • Pairs
  • Long Term
  • 60 Seconds
  • One Touch
  • Ladder

As you can see from this list, there are so many different types of trades you can place on CherryTrade. You have your basic High/Low trade, where you simply choose whether an option will go up or down, or your simple One Touch trade, where you win so long as your trigger price is hit within a certain time period. Pairs trading allows you to profit off of relative stock performance. Ladder trades are complex investments where you have the chance to earn partial profits. 60 Second trades zoom by in just a single minute, and Long Term trades allow you to hold your positions for weeks or months or even the better part of a year.

What Can You Trade on CherryTrade?

FTSE 100 (UK)
S&P 500 (US)

Final Thoughts on CherryTrade

As with any binary options broker, CherryTrade has some drawbacks. The fact that there is no demo account available is definitely a major detractor. But CherryTrade has a lot going for them: a well-designed website, a flexible range of trade sizes and types, and many educational resources at all account tiers. They have a solid reputation and appear to be doing all that they can to stand out from the sea of competitors. We like


Trader Reviews and Comments

Uncensored (except for obvious spam) comments from traders below. See what other traders think before deciding for yourself.

  • justice

    TRADING Binary Option and FOREX Are you interested in trading? have you been losing trades and you need a good professional

    to manage your broker account.
    Mr. Mark Anthony turned $700 dollars into $10,000 dollars in one week. Make more with the new secret he can manage and

    trade with your account and make you profit of 15,000$ weekly this is his mail, if you are interested.

  • Elizabeth Donald

    People always say ‘I want to be rich’ The question is are you willing to do what it takes?
    The truth is people love the idea of attaining financial freedom, the excitement of never to worry about money problems, but only few have the guts to do something about it. There are endless opportunities out there to make money, you just need to stand on your feet and… More make a decision about it. Invest today and secure the future. Binary options trading has given everyone equal opportunity to wealth creation so please do not be left behind. For professional account management with profit and payout assured, you can contact me via my personal Email for more info:

  • tara bankz

    hello friends, Most Binary Option brokers are scams, and to my thought am willing to help people recover their losses.
    i was a victim of circumstance, i Lost a lot of money but got help through a means to get back my deposited funds back and make even more profit more than expected, i will also teach you how to make money using binary/forex trading and you will be able to make up to $17,000 weekly. I will help you to recover your losses, my invested funds lost i was able to recover/withdraw them all and I”ll love to share these strategy to anyone who is willing to learn. contact me via ( goodluck and God bless you.


    Trading in binary has its gains and losses . You must however know how to play your cards well to earn an overall gain at the end of your trade. I won’t tell you my strategy is the best but i keep wondering what strategy can earn you at least $45000 per month. Email me via the email above to find out more..

  • Roy Taker

    Good news friend.. TRADING Binary Option and FOREX Are you interested in trading? have you been losing trades and you need a good professional to manage your broker account.
    i turned $1,000 dollars into 10,000$ dollars in one week make more with the new secret i can manage and trade with your account and make you profit of 15,000$ weekly this is my mail ( contact me for more info.

  • Mazibuko Sfiso Oscar

    At the early stage it wasn’t easy but it worked out in the end, I have made so much money than I ever imagined possible and I can say for sure that binary options trading is reliable and profitable. I didn’t do it alone, I did all this with the help of Vera James who managed my broker account, I advise you work with her if you have profit in mind, she is amazing.Email :

  • Justin William

    Become Successful: Binary options trading is one of the profitable ways of making money. It’s awesome when you work with the right broker, You can make profit of $17,000 and above weekly if you invest through the right broker, strategy and the right amount? I can teach you how to become successful if you’re willing to listen and invest. 93% profit guaranteed, if interested to succeed mail me via Thank you…….

  • Blake

    So great a profit have i received that i cannot express in words. My gains are far different from what i had this previous month, Thanks to my striking technique. You might want to learn me by emailing me via

  • Blake

    Binary is great!!

  • Greg

    They have $250 of my money that I can not get back. They have not responded to my emails and calls can’t get through. Where this may be a small amount to most, Its a lot to me. Highly disappointing. All i need and want is my money back.


    Estafa Total, no pagan..!! MUCHO CUIDADO CON CHERRY TRADE.

  • John Maki

    These guys are a total scam. Once you are in over $1000 good luck getting your money back. I have been waiting over a month and their customer service just ignores you.

    • Ravi Balan

      Hi John Now it is about a month and Cherry Trade does not respond to my emails regarding withdrawal. Is there a way I can escalate the issue.

    • Steve

      Did you get your money back?

  • Mark H

    Stay Away from them…..they are truly terrible. I’ve lost over $2,500 dollars. I didn’t sign up to profits but they say they gave me a gift which I signed nothing for – now I need to have over $100k in my account before they will release my money. I have gone to British Trading Standards but nothing they can do. Honestly pick a decent broker as these guys have completely lost all my trust in trading.

  • Steve Waddell

    Ps i have avoided all of their contracts due to bonus and turnover tie in. I just read the news follow the markets and don’t listen to any so called senior trader who tries to advise me. By the way there are some brilliant you tube videos called tasty bites. The professors are so good learnt a lot
    Listen to them talk. All free.

  • Steve Waddell

    So far I have had good experiences with cherry trade. Ps i have not been paid to say that. Lol. I joined 18 months ago. I set up account with no bonus so I have no tie ins and account is liquid. They have paid my withdrawals and their accounts depth has been very helpful. So far so good

    • JohnSmith

      yes, you are paid moron. Cherry are big scammer ever. read google…

      • Steve

        John Smith, you are an idiot, Call me a Moron to my face and see what happens!

  • Daniel Power

    I have been looking everywhere for a trustworthy and reliable binary options broker but i cant find one. There are always complaints of the broker not giving out profits etc. Can someone please just tell me the name of a broker they know is legit and trustworthy? Thank you.

  • Peter Baron

    CYSEC – the Cyprus based "regulator" must be manned with blind and death people. Who owns them??? Have an educated guess..

  • Doreen

    Hi, does anyone know if you can retrieve your deposit back?

  • Charles Han

    I have signed a bonus and of course the accounts manager made the money but after that left me in a lurch . How to trade to get out of it? Is it by volume is amount?

  • shaikh

    I have lost $5300.00
    they are fraud. contact my email I’ll provide all the proofs. USA customers don’t bother wasting it. All you have is 1 phone number. Once your deposit in their hands you are nothing to them. Beware of daniel sinclair, nikka lee, henry and few more. They will help you evaporate your money in few weeks. Don’t fall in trap of signing their guaranteed win contract. I did and lost every penny of my hard earned money. They will promise you the world but won’t provide a thing.
    just visit youtube and look for cherrytrade scam victims.
    Please dont be one. I put my kids college money for their false promises and got scammed.
    Do lots of research before you send them a dime. I have lost it all and I”M in florida. They are going to pretend they are based in NYC but no they are not. They are overseas and as I said all you got is a phone number. They don’t have the no courtesy like here in USA. Once you are in you can’t go out. Please be aware of them.

    • Mary Ann Nietz

      A friend of ours has invested over $7,500 or more and this guy name Ben said he how has I’ve a million in his account so our friend wants his money but Ben keeps saying it’s in its way. It’s been weeks! Now Ben says he is coming to meet him from London but that’s been days now. It kinda creepy.

  • Lynn Ray

    I have withdrawn from Cherry Trade 2 times with no problem. This 3rd time they are giving a hassle. The say the image of my credit card is blurred. It isn’t blurry to me. I wonder if it isn’t a bad sign?

    • Steve Waddell

      I have made a few dozen with draws. Accounts are very helpful. I had card issues but all were fixed. I can’t say to u don’t worry I just say that it has been OK for me.good luck

  • Euripedes Francisco de Jesus

    Thank you for contacting CherryTrade Binary Options.

    As I told you before, following a review of your account, based on possibly suspicious activities regarding your payment method, we have refunded your investment(s) and we have closed your account.
    So, this refunded investment don’t come to my credit card. I ask to accounting depto. for give me a copy this withdrawals and I didn’t receive their answer

  • Charissa Setter

    Beware. The same person listed in this discussion Byrne julian influenced me to buy software which cost me USD$471 that had to be paid thru Money gram , western union. This person Byrne Julian also voluntarily deposited their money $250 usd. into 24 Option (in my account name) to start trading for me using this software first to prove it worked. When it reached $1550 , I wanted to withdraw it and repay her loan $250. She and her manager John Kane said I had to pay $350 usd authorisation fee to withdraw the money. i paid thru moneygram. Five months later , despite many requests I have not receive the software nor the money. I requested refunds usd $471 plus $350 usd plus money transfer fees $120 usd. Its a scam with a feminine touch and I am preparing a case to Interpol (internet fraud dept) to get my refunds.

    • Nazif

      How to get refund.. i has lost many money for invest bitcoin

      • David Gubin

        call the police

        • Johnny

          WTF which Police, in the Grenadines, Gibraltar?

      • Johnny

        Funds absconded as business is unregulated and Judgement Proof!

    • Johnny

      Scammers of the 1st degree screwing consumers at every turn. Once your hard earned funds belongs to them you’re done. No way no how to get a single penny in return, a refund or "eatnings!"

  • James Smith

    Stockpair are good. Regulated and don’t try and rip you off

    • Johnny


  • James Smith

    They are awful. Last second swings out of the money and as soon as you request a withdrawal they go cold on you. Absolute scam

  • Dhya

    Everyone has got something negative to narrate and dicourage me. So who is a genuine binary options broker? I’ve already lost couple of hundred dollars to iqoptions due to their terrible bonus terms and conditions!

    Is there anyone wise to offer some advice? Cheers.

    • Razvan

      What happ Dhya with iqoption??? What conditions they have about the Bonus. I want to invest some amount of money there to start trading with my own strategy. Us nit a good broker??? They are not serious???

  • Jummy

    Thank God I have not made deposits. I pray and told God if its a scam let me find it difficult to make deposits and since 6am to 4:25pm now its been one problem or the other. If not wrong password, its ‘pls wait, loading page’ or power outage. Thank God for getting to read all this comment. Am adding mine too. Cheers

  • George Sapirstein

    I have been trading with Cherrytrade for almost a year, it’s been up and down which l expected, and they always ask for more funds to move up to different categories it never ends, I have never tried to take any money out, for the last straw they tell you they will give you a bonus to sometimes match your funds, be very CAREFUL because the bonus needs to be traded 50 times ( 5000 = 250.000) although they say you can get around it, it’s all BS, l want to take some money out and l can’t, the broker won’t return calls or e-mails, IT’S AN ABSOLUTE SCAM .

  • Glenn Leckie

    I have requested reimbursing of my money and I am still waiting after two and a half month. They keep telling me to wait because it takes some working days, but after two and a half month?????? If I do not get my money the world will definitely hear from me.

  • Chantal

    I subscribed to open up an account with them, and a few seconds later a guy called trying to explain – he was unprofessional, the line was cracking up and the call got cancelled. Next minute he calls from a different country code saying i have to make the deposit to start up. I said NO i will look into cherrytrade first before anything, he said ” good luck ” and hung up the phone! – clearly a SCAM!! (No professional company would behave this way, nor call from different country codes with bad lines)

    • Johnny


  • peter

    then who is for real guys looks like all of them are not for real.

  • A.Monstavicius

    Has anyone had experience with Cherrytrade using Robert Allen’s system? Robert Allen provides the software for the trades etc. Thanks

    • Rodney Dunn

      I have used Robert Allen’s system, it was extremely oversold. 50% accuracy at best all 60 second trades. The alerts don’t always work like they should. I am now working with a broker at Cherry Trade & am having much better results. They are the real deal.

      • gil

        hi rodney! any problem with cherry trade so far with your withdrawals? a certain brad johnson from cherry trade has been keeping in touch with me lately.

        • Ross

          Hi Gil

          I’m about to deposit £200 into a cherry trade account, should I go for it or is it too risky.

          I’m also looking at 24options.

          Thanks Ross

  • Gee

    I haven’t even made my first deposit and I got a call already. In the process while reading thru my phone rang. I called it back they said they would call me back. I think they’re waiting till I make my first deposit. After seeing all these not – so – good comments, I will not invest into it…

  • Steve

    Don’t trust CherryTrade I deposited $500 won $535 = $1035 I requested a withdrawal of balance got my $500 but not the profits it’s a scam

  • hituhard

    I try so many binary option and I think all this shit was just bullshit..come on think about it…if binary option make you money millions..(no hard feeling) broker would just open them self a account n earn money themself …what do u think they there for..get ur money so they could get pay….all those people that trying to make million of dollar over night…by trading binary..or so what ever….if you not rich enough …better of if u save that money in invest your own software…it would be better…YOU CANT NEVER EVER TRUTH ANYBODY ON THE INTERNET WHEN IT COME TO MONEY MAKE YOU MONEY….

    • Gab

      The guys are very smart … they provide you with information, webpages, education, service via telephone etc. Once you trust them and deposit more money into your account they offer you risk free trade which is actually a bonus. Read their terms of use … bonus requires you to trade 30-50x to the volume of the bonus. They will tell you that you can get this within a month with a good broker … and that the last what you can hear from them. You are alone with your big money (thanks to bonus) but you are not allowed to withdraw it before getting to a sum 30-50x higher. Are you able to trade without any help from a broker?
      Once I asked them “Where is the money the trader wins from?” The answer: From those who lost. And guess who is winning and who is losing?

  • rahim

    This Broker is robber, the platform has a delay for choose CALL or PUT and also after finish time, so you always lose money.
    In 60 seconds you don’t have a approval windows for cancel or approve your trade, I called, chat and email to them 100 time but they never fix that problem, so you don’t have any chance to cancel your trade and %90 lose money.

  • Charles

    In any 3 given trades, the timer in one of the trades will disappear and I will loss that trade. The timer will vanish and nothing will for you to see what trade is like. everything will just go and at the end they say you lost. They are not to be trusted.

  • Charles

    Hello everyone, I traded with Cherry Trade, and my experience is not too good. While I trade 3 trades, the first 2 I will see the timer counting and showing me how the trade is going, but the last one will be approved and after approval the timer will count for 5 seconds and disappear it will then show a loss. I tried to contact them through chat but they told it’s cache in my fire fox I need to clear it. I tried all I could but to no avail so I believed they are not to be trusted.

  • Michael

    Hi there,

    I traded from cherry trade,goption, porter finance, regal option, binary international.
    I lost few thousand dollars by them.
    Most of people who lost felt there are trick like delay signal or jump up or go down suddenly.

    It is programmatically trick.
    When you deposit once, you would be happy for your pure profit, but you will lost your money. Why?
    Your first profit is bait for you to make more deposit.

    It’s hard to find right binary broker.

    Strongly I can tell you work harder! And enjoy your life. It is reason why we need to work to live.



    • Sam

      The only decent brokers that I know: 24options, stock&pair

      • Sam

        I’m sorry, forgot to mention marketsworld.
        Also great broker
        I base my opinion on the withdrawal prosses, if it goes smoothly and you getting your money back more than once then the broker is fine and legit , if not no matter the reason then it’s a scam

      • Claudia

        and 10Trade and Banc de Binary

      • P.J.

        24Option? Are you kidding? I was literally robbed by those sub-humans. They are extremely agressive, and do exactly the same thing as any other scam broker out there (except they ARE regulated, and a lot of affiliates promote them with fake positive reviews for huge comissions). It’s a typical offshore boiler room operation where seasoned sales people (pretending to be “account managers” and “senior brokers”) get paid to part you with your cash, using every dirty trick in the book. Withdrawals at 24Option are IMPOSSIBLE. They will even resort to fraud in order to keep you from withdrawing your funds. I had to get a lawyer in order to get my money out of my 24Option account. Never again!

  • Jeff

    If you take any broker bonus structure no matter how much you invest, most notably in there terms and agreements it say’s you have to trade at least 30-40 times before you can request a withdraw. Never take the bonuses as you will not get your money until you have traded 30-40 times. Also if you guys are fighting them with your words of threatening “TEXT” to get your money back, it’s only going to make matters worst, in fact YOUR LAWYERS or DEFENSE ATTORNEY’S do that for you! It’s the best scare tactic for brokers you think are scams!!!

  • Michael

    I only traded with Cherry Trade for a couple of weeks. I started to notice that many of my trades would be green up till the last second then go red. Humm…the worst thing one night was that I noticed that I had one a trade and it hung up in the authenticate mode for several minutes then it just vanished. I checked my loss and Winn trades and it was not there. Then the same thing happened. The next trade I won and immediately took a screen shot of the win. Then poof, gone and none of the three trades showed up. I tried calling emailing and instant chat. Then I wrote an email and enclosed the screen shot image with the individual trade number on it and said where is this trade in my account. The next day I had the equivalent of the three trades in my account without explanation and still the trades were not in my account. I am sorry but the amount of trust you have to put in a broker with binary trades I can not use them any longer.

    • Barry

      I have been looking into binary trading and was impressed with the Cherry Trade interface. Their charts and how they express the buying trends is what makes them attractive for me a beginner. Have you found another broker with similar software interface that is more trustworthy?

  • bob

    Started with $200 went up to 4 and lost everything

  • mr banks

    Yep its a fraud i lost all my trades except one as well. When i tried to get whats left of my money they gave me a hard time with that. Dont trust them they are lying crooks.

  • Brenda

    I lost all my trades on cherry trade except one. So I decided to out myself from their services and not use them any more. Once my account balance was down to almost nothing the person who handled my account was very nervy requesting me to deposit more and act like he really cared. I told him I wasn’t depositing anymore of my hard earned money. He told me when I get some more money be sure to deposit it in my account. I really must have stupid written across my forehead. It is really funny how I traded the same trades on my other brokerage account and they won…………..a real scam!

    • Willie

      what is your other brokerage account

      • darrell

        hay have you withdraw any money from this cherry trade what is your other brokerage account

    • avner

      With all respect, I don’t think that the broker is the one to blame when you’re losing…
      You should think maybe you’re doing something wrong, because the most impotent thing to remember is that in BinaryOptions you can’t always win, if everyone would win 100% of the time then something would “smell funny”.
      So it’s always good to accept lost – it builds your understanding of the market.
      in any case it doesn’t matter with which broker you’re working sometimes losing is a good thing so accept it.

      Good luck in your future of trading

  • bogala emola

    This a fraud broker the have too many crushes on platform and delays on excution they will make you lose

    • Trish

      JI have had a very bad experience with Cherrytrade, an offshore binary trading brokerage, and would not recommend them to anyone else. Senior Broker Alexey Dougin drafted an agreement for me that stated that my account would be "fully liquid" by 12-30-16 and that I would be able to remove my all funds if desired. When the account had not gone liquid about one week after 12-30-16 I called to find out what was going on. He informed me that he had decided not to honor his own agreement. I am getting ready to file a regulatory complaint and will also be pursuing a civil lawsuit aginst Cherrytrade and potentially also against Mr. Dougin and lead broker Lucas Rei. When I called Cherrytrade support to obtain more information about the firm, the receptionist refused to give me the name of the CEO or the physical address of the company. She also refused to give me the contact information of their legal team. Please note that this outfit is on the Global Investor Alert list for Canada. Good thing that I didn’t invest all my hard-earned cash with these bozos and that I still have more than enough funds to SUE THEM.