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Software CherryTrade vs. Magnum Options

Selecting the most appropriate binary option trading srevice for your business is hard with so many functions, options, and terms to choose from. However, relying on our review directory will help you to simplify the selection process by showing all main brokers in a single place. For instance, you can contrast CherryTrade and Magnum Options for their tools and overall scores, in this case, 8.1 and 8.0, respectively. Likewise, you can check which service has superior general user satisfaction rating: 100% (CherryTrade) and 96% (Magnum Options) to find out which solution is the better choice. Don’t just choose the platform with the most attractive minimum deposit, but the one that gives the most cost-effective value.

Software

CherryTrade

VS

Magnum Options

VS

Our Score

Our Score

8.1 ?

Our Score

8.0 ?

Client Experience

Client Experience

100% ?

Client Experience

96% ?

Minimum Deposit

$200

$200

Accepts US Clients

Yes
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Detailed Review

Description

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.

Magnum Options is using the SpotOption trading platform, which is one of the most popular trading platforms out there thanks to its ease of use and flexibility. It is so straightforward that even novice traders won’t find themselves having difficulties browsing and performing trade functions and processes present at SpotOption.

Platform

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
Platform type: SpotOption
Platform Languages: Italian
OS Compatibility: iOS, Windows
Streaming News Feed: Yes
Email Alerts: No
Mobile Alerts: No

Email

support@cherrytrade.com support@magnumoptions.com

Trading Accounts

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

Magnum Options offers the folllowing trading accounts:

  • Standard Account
  • Premium Account
  • Executive Account
  • Magnum Elite

Deposit Options

Credit Card, Debit Card, Bank Wire Transfer, CashU, Skrill Credit Card, Debit Card, Bank Wire Transfer, CashU

Located In

Gibraltar, European Union British Anguilla

Payout ratios

CherryTrade offers payout up to 85%.

75%

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Comission

No
No

Trade Types

CherryTrade offers the following trade types:

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

Magnum Option offers the following trade types:

  • Classic Binary Options
  • One Touch Options
  • Option Builder
  • 60 Second Options
  • Option Pro

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

Withdrawal Options:

Credit Card, Debit Card, Bank Wire Transfer, CashU, Skrill Credit Card, Debit Card

Payouts Percentage

85%

85%

Customer Service

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
EMAIL PHONE NO.
LIVE SUPPORT
Customer Support Languages: English, Italian
Customer Service Hours:
Place Trades Over the Phone?: No

Assets

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

Phone

917-775-0324 1-855-217-4642

Place Trades Over Phone

Yes
No
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No Binary Options Brokers will be perfect enough to solve all the needs of a specific team. While key functionalities of CherryTrade and Magnum Options are obviously a priority you should also thoroughly examine the integrations offered by each product. Quote frequently you will already be working with other types of B2B software in your company and it’s definitely better to select products that integrate well with each other. If you do that you can guarantee a smooth transfer of information between your teams and apps, which can really reduce time devoted to migrating between one service and the next.