Risk free trading is a way in which brokers like Cherrytrade are improving the trading game. If you are a beginner in the game, being able to trade for practice without running the risk of losing your investment is a pretty big deal. A lot of brokers in the present day try to provide a risk free trading bonus as a part of their incentive to get more traders to work with them.
Most of the time, this is a one-time offer, and it is no different with the promotional free trades offered by Cherrytrade. It can be a pretty great way to get started in the field. Usually, this type of bonus is given when the trader signs up with the broker for the first time, and it comes hand in hand with a bunch of other features as well, most of which are based on the account type.
What Are The Advantages Of The Cherrytrade Risk Free Trades?
Unlike a standard demo account that is started on a broker to practice trading, the risk free trades from Cherrytrade have the unique advantage of bringing in real money if they work out. They don’t take away any of your money from your initial deposit, but they do add to it if you win. This means that you stand a chance to have a lot more money in your account the first time you start trading on it, when you actually do start.
Now, it must be noted that there are some requirements that need to be met before the risk free trade winnings can be added to your account with Cherrytrade. This is that you need to trade up to 30x the trading bonus volume. This shouldn’t be too worrying as long as you aren’t a scammer who was trying to enjoy the risk free trades alone.
Other Bonuses Offered Alongside the Risk Free Trades
Cherrytrade has a very unique referral program. If you can refer a friend to the broker who deposits the minimum deposit and completes a trade, you actually get a $50 bonus. This applies to each new person you bring in as well. Both you and the friend get to enjoy this bonus as it is deposited into both your accounts. Of course, the volumetric requirements still apply. You need to trade a volume of at least 30 times that of the bonus in order to withdraw it.
How to Obtain Cherrytrade Risk Free Trades
There are many different account types available at Cherrytrade and all of them have different bonuses. You can’t get the risk-free trades with all of them though. the trades are given to you as a welcome bonus for signing up with them and making your initial deposit.
The Classic account, which is the account with a $200 minimum deposit, isn’t packed with any risk free trades. The Bronze account doesn’t have it either, even though the minimum deposit is $500. There are many other bonuses with this account, such as the 35% welcome bonus. The Silver account, which is the most popular, requires you to deposit $1000 in order to obtain 4 risk free trades. Each of these has a value of $50.
The Gold account, which needs a $5000 minimum deposit to activate, allows for a 75% deposit bonus as well as the option for 4 risk free trades valued at $250 each. This is actually a pretty great option, although you may want to think twice before depositing $5000 if you are new to the trading game.
Platinum is the final account type, and is only open to Australian traders. It gives four trades risk free at $500 for each trade. The minimum deposit for this is $10000.
How Can I Withdraw My Risk Free Gains?
You need to submit proof of identification before you can make any requests for withdrawals at Cherrytrade. When you have made gains with the risk free trading options, you can only withdraw the money you gain after you have made 30x the volume of the amount you earned in other trades. It takes about 5 business days to process a request, and you can use your bank account with direct transfer or your credit and debit card.
Overall, risk free trades are amazing no matter who offers them. While it would be nice if all the accounts at Cherrytrade had this offer, taking advantage of them is easy, and it isn’t too hard to enjoy the money you get back either.