Another cool feature of the Cherry-Trade support page is that it lists several different Cherry-Trade employees, which many other brokers do not, especially scammers. Obviously, Cherry-Trade did not do any of the above, and can not even be regarded as a broker, but just a scam in the foreign exchange market. This is why it is important to learn more about Cherry-Trade before opening an account and sending money or submitting any documents.
If you come across the next one with Cherry-Trade, it is more than likely that you have been scammed or involved in a scam. If you have lost money on Cherry-Trade, please consult our experts and we will conduct a full investigation and help you file a claim that will make it easier to recover your funds.
Fund Recovery experts can help you determine whether your broker is a scammer or a legitimate broker. Although a fund recovery expert can help you get your funds back, it is always a good idea to research a broker from the beginning.
A good broker should not only be regulated but also have a good reputation, excellent trading conditions, and exceptional support. The general rule of thumb is to never subscribe to an unregulated broker. Such brokers are only required to provide easy access to trading instruments, but nothing more.
You are told that the trader will trade for you, regulated brokers are not allowed to trade for you. If you receive a call from a specific broker, but you have never registered with him.
No broker is found on the Internet. If you can’t find a lot of information about the so-called broker, it may be a scam. If you invest in one of these brokers, you have obviously been robbed. If you are deceived, please fill out this complaint form and our representative will contact you.
The company names its address Suite 110, 12 South Bridge, Edinburgh EH1 1DD Scotland, United Kingdom. However, the Forex broker does not have a compulsory FCA license to do this. The Forex broker is licensed by the VFSC, but this is not enough to offer financial services or products in the UK or Europe. In general, the FCA advises UK investors not to invest with this broker.
The most common sign of a broker scam or a Forex trading scam is that the broker is either not regulated at all or has a low-quality regulatory license.
Even if errors occur when logging in, the broker must have the resources to correct the situation in the shortest possible time so as not to miss out on trading opportunities. The trading platform provided by the broker should be easy to use and intuitive enough for traders to quickly access their accounts and trade. The trading platform should be very simple and user-friendly to help users in their day-to-day trading. The broker must have a modern trading platform supported by advanced analytical tools and the latest forex technology.
If you are unable to log into your broker account, there is no need to panic. A professional broker never deliberately restricts user access to an account.
On the other hand, if the broker no longer provides communication methods such as email, phone, text messaging, and chat, and has a support team that does not seem to understand the trade or is evasively asking certain questions, this could be a sign that a scam is or at least a low-quality broker. Some less than honest brokers will be aggressive with clients and encourage them to make certain trades. Sometimes, in Forex trading scams, the fraudulent broker only offers their own platform, which may turn out to be fake.
Don’t assume that Cherry-Trade is legal just because it had a friendly chatbot that greeted you when you first visited the site, or because the broker paid you a lot of attention in the first few weeks.
If you are interested in trading foreign exchange, cryptocurrency, CFDs, or commodities, paying close attention to the broker you trade with can prevent broker withdrawal problems and help you avoid broker fraud. Some brokers may offer a wide variety of trading products, while other brokers may specialize in one area, such as foreign exchange. The accounts of most brokers vary according to the amount of the transaction. Because leverage is directly related to risk, it is provided in small amounts.
However, the tradition of accepting huge minimum deposits is extremely common among scammers, as their main goal is to steal as much money from a trader as possible before he suspects suspicion.
What is even more offensive is that the minimum deposit for a bronze account allows you to get more features from more reputable and regulated foreign exchange brokers. If Cherry-Trade requires an above-average amount, then Cherry-Trade is more likely to be a scam. However, this factor requires a lot of attention because it is usually an area where people can be fooled by brokerage scams. If you sign up quickly, the broker may offer transactions, or they may tell you that if you are not in a hurry to open an account, then the opportunity to make a lot of money will disappear in a day or two.
For further reading, please see Cherry-Trade: legit or no