CherryTrade.com Review

Got a bonus against my wishes then couldn't withdraw. The signals were piles of roo poo.

I just want to have back the 250$ i have founded with cherrytrade. Still waiting for my money since 45 days. First i had all documents required by all brokers. Then they asked other documents that i have scanned and sent. Then they sent me a document where i had to fill manually the contained of the scanned documents by hand. Then they told me that my bank account was not correct because i had only given iban and swiftcode. Anybody knows that iban is bank account preceded by 4 alphadigits representing country and bank...Of course i have sent this number as they asked. Then they told me that address of beneficiary was not correct...I realised that efectively it was an inversion of 2 letters in the address...corrected....And then still waiting with no news anymore after asking where my money is...45 days after my account withdrawal request.

I stumbled upon cherrytrade in June of 2015. I was honestly just looking for an easy way to make money, and I ended up paying for it. My account was eventually evaportated to less than $2.00 and I'll tell you how.

1. First I deposited $1,000 dollars into the account. I got a call from a broker called Christian Dunn. He said he had an 87% success rate and could work with me if I deposited $1,000 more. He said he would match my $1,000 dollar deposit with a $1,000 bonus.

2. I agreed and began trading. He gave me a bunch of signals that risked 86% of my account. I ended up winning 4/6 of them, and I was up to $3,400 dollars. I was happy and was ready to make some more money. This is where it all went downhill.

3. The next few trades brought my account all the way down to $2,440. I was able to work my account back up to about $3,000 dollars, but his signals just put it to $1,200.

4. I started to get a little more confident when he gave me 8 signals and 7 of them were winners. My account was back to about $2,600 dollars and I was happy. This didn't last long because within 2 weeks my account was at 700 dollars. I stopped trading with him after that.

5. I was then introduced to another broker who said he would only risk 1-2% of my account per trade, and didn't know why Christian would ever risk over 80% of my account in one day. He gave me 3 signals, and they all failed. I realized he risked about 60% of my account, not 1-2% like he promised.

6. I ended up losing and just giving up when my account got under $2. I couldn't withdraw because I hadn't met the trade requirement. The only reason I didn't immediately withdraw is due to the trade requirement from the bonus. That is how they win, they give you a bonus, and then you're stuck.


tl;dr: lost all my money snd their signals and brokers were terrible. Stay away, you will lose your money.

Good looking website with eye catching graphics. I noticed their address is in the Republic of Ireland but advertising a UK based virtual landline phone number. There is no mention of regulation by any financial or gambling authorities in Ireland or the UK.
Personally, I would not use a broker or betting company that is not regulated because if any issues with the company you have no one to turn to. This is my personal preference.

Cherrytrade.com pushes very hard on their NFP (non farm payroll) report as a big market mover. They stressed about depositing 10 to 20k and taking risk free bonuses on it. Fri. morning they give about 13 or so end of day signals. I hate bonuses in how they lock up your money from withdrawing so I never take them. The first month all the signals lost. After that I never heard from Oliver (my account manager) again. Then Elliot the new manager gave signals that where only 30% successful. All of a sudden he was gone.

Then John Patterson called me, he promised an upgrade of my account and a risk free trades with no trade requirements, then revised the trades I make on the NFP would fill the requirements, then revised again saying 10 times the trades, then revised again saying 20 times. I said I could deposit just 1 or 2K in my account but he insisted on more. So he kept trying to charge my cards for outrageous amounts and was upset they weren't going through. I told him that those amounts are above my credit limit and I did not authorize him to do so. He kept asking me for another card and I said no, that is all I'm giving. Yet he still tried charging my cards for all he could take. After I hung up, the credit card company called asking if my card was stolen, in a sense yes. The big amounts were declined.

The next day I paper traded his NFP signals and only 3 of the 11 end of day trades were successful. I'm withdrawing all my money now.