I have an update on this for you today.
It turns out that there is a minimum withdrawal amount of $50. I don’t remember seeing this written anywhere but I could have missed it.
The reason my withdrawal wasn’t going through was because I entered $27.50 and it was showing as pending as it was under the minimum.
I got sick of waiting and decided to withdraw my balance (at the time $200.25) and as soon as I entered the withdrawal both it, and my previous $27.50, showed as ‘Approved’.
I’ve checked my account this morning and there are two deposits: $200.25 and $27.50 from CherryTrade.
So it looks like these are a legitimate broker after all. Do be warned though that in order to make a withdrawal you have to send in photo id, like a driving license, and proof of address, and a photo of the front and back of the card you uses to deposit the funds (you can blank out all but the last four digits and I’d recommend that). So if you are not comfortable doing that then don’t get involved. I suspect this is to do with money laundering regulations or something but even so, it’s a bit of a hoop jump that you’re generally not aware of when you deposit funds.
So the long and short of it is, I’ve made a profit of $27.75 for doing next to nothing. I just need to decide now whether to deposit another $200 on Monday and let them start trading it again.
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