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Software First Binary Option Service vs. CherryTrade

Getting the best binary option trading srevice for your organization is not that easy with various features, choices, and offers to consider. However, depending on our review platform will help you to cut down the selection process by getting all key services in one place. For instance, you can contrast CherryTrade and First Binary Option Service for their tools and overall scores, namely, 8.1 and 7.0, respectively. Likewise, you can see which provider has higher general user satisfaction rating: 100% (CherryTrade) and 95% (First Binary Option Service) to learn which solution is the better option. Don’t simply pick the service with the lowest minimum deposit, but the platform that gives the most cost-effective value.

Software

First Binary Option Service

VS

CherryTrade

VS

Total Score

Our Score

7.0 ?

Our Score

8.1 ?

Customer Experience

Customer Experience

95% ?

Customer Experience

100% ?

Minimum Deposit

$5

$200

Accepts US Clients

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Complete Review

Description

First Binary Option Service’s trading platform is just labeled differently from traditional trading platforms. But it is simple to use as all the main features are labeled clearly and you can easily select options from the provided drop-down list.

This broker offers a demo account to help traders become familiar with the trading platform before they invest their money. You can trade in about 50 instruments of various types including CFDs, indexes, futures, and currency pairs. The trading platform is web-based and you don’t have to download or install any software on your computer system. The company has been around since 2011 and offers support in English and Russian languages.

CherryTrade uses the SpotOption trading platform. A popular trading platform option among binary brokers, SpotOption flaunts a relatively easy to use interface and is loaded with basic and advanced features that novice traders will be able to learn to use in no time. SpotOption is now available for mobile devices, specifically Android and Apple iOS smartphones and tablets.

The platform is 100% web-based which means you don’t have to download any software. It can be accessed anywhere in the world. You can quickly access all your transactions – deposits, withdrawals, and trading portfolio – in the ‘My Account’ section. The maximum amount you can invest per individual trade is $5000.

Place Trades Over Phone

No
Yes

Bonuses & Rewards

No Deposit Bonus: No
Bonus for First Deposit: No
Is the Bonus Based on the Volume of the Transaction?: No
Other Bonuses: No
No Deposit Bonus: No
Bonus for First Deposit: No
Is the Bonus Based on the Volume of the Transaction?: No
Other Bonuses: No

Trade Types

First Binary Option offers six trade types:

  • High / Low
  • One Touch
  • No Touch
  • In Range
  • Out Range
  • 60 Seconds

CherryTrade offers the following trade types:

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

Customer Service

EMAIL
LIVE SUPPORT TRAINING
Customer Support Languages: English, Russian
Customer Service Hours: First Binary Option Service offers 24-hour customer support.
Place Trades Over the Phone?: No
EMAIL PHONE NO.
LIVE SUPPORT TRAINING
Customer Support Languages: English, Spanish, German, French, Chinese, Japanese, Italian, Arabic, Dutch, Swedish
Customer Service Hours: CherryTrade provides 24/7 customer support.
Place Trades Over the Phone?: Yes

Deposit Options

Webmoney, Credit Card, Debit Card, Bank Wire Transfer, Western Union, CashU, Skrill Credit Card, Debit Card, Bank Wire Transfer, CashU, Skrill

Located In

Cyprus Gibraltar, European Union
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Phone

No phone support 917-775-0324

Email

support@firstbinaryoption.com support@cherrytrade.com

Payout ratios

Average returns are around 80% and maximum returns can be as high as 765%. You can get a refund of up to 15% for losing trades.

CherryTrade offers payout up to 85%.

Payouts Percentage

80%

85%

Comission

No
No

Platform

Platform type: First Binary Option Platform
Platform Languages: English, Spanish, Russian, Arabic
OS Compatibility: Windows, Android
Streaming News Feed: Yes
Email Alerts: Yes
Mobile Alerts: No
Platform type: SpotOption
Platform Languages: English, Spanish, German, French, Russian, Chinese, Japanese, Italian
OS Compatibility: Mac OS, iOS, Windows, Android
Streaming News Feed: Yes
Email Alerts: No
Mobile Alerts: Yes

Trading Accounts

Click on the “Real Account” button on firstbinaryoption.com to register and get started. The minimum deposit required is just $5. The website also offers a free demo account.

CherryTrade offers five types of accounts:

Classic Account – Deposit 200+

  • 20% welcome bonus
  • Junior broker
  • Level 1 education center

Pro Account – Deposit 2,500+

  • 35% welcome bonus
  • Executive broker
  • 1-on-1 basic training – 1 hour
  • Level 1+2 education center
  • General trading signals

Gold Account – Deposit 6,500+

  • 70% welcome bonus
  • Executive broker
  • Risk free trades x3
  • 1-on-1 advanced training – 3 hours
  • Level 1-3 education center
  • General trading signals

VIP Account – Deposit 50,000+

  • 50% welcome bonus
  • Executive broker + analyst
  • Risk free trades x5
  • 1-on-1 analyst sessions – 7 hours
  • Level 1-4 education center
  • Personalized trading signals

Corporate Account – Deposit 100,000+

  • 30% welcome bonus
  • Executive broker + analyst
  • Risk free trades x10
  • 1-on-1 analyst sessions – Unlimited
  • Full education center
  • Personalized trading signals

Assets

Forex, Metals, Oil, Gold, Indices, Stocks, Commodities, etfs, CFDs Forex, Indices, Stocks, Commodities

Withdrawal Options:

Webmoney, Credit Card, Debit Card, Bank Wire Transfer, Western Union, CashU, Skrill Credit Card, Debit Card, Bank Wire Transfer, CashU, Skrill
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Almost as crucial as features and client support quality are pricing options offered by CherryTrade and First Binary Option Service. Although cost should not be the sole element it’s definitely a significant thing to think about. You should expect a flexible pricing plan that can be adjusted to your business size and effortlessly scaled up when your team develops. Be sure that you don’t pick pricing plans that include advanced functionalities that you won’t find useful and always try to get in touch with the vendor directly as big companies can often benefit from more affordable prices. You should also check out a free trial or demo of each product to spend at least some time working with it. It’s a helpful experience that doesn’t need you to pay any money and offers a reliable overview of what it’s like to work with CherryTrade and First Binary Option Service.