Porter Finance Review
- Broker: Porter Finance
- Website URL: porterfinance.com
- Support Number: (646) 693-4074
- Minimum 1st Deposit: $200
- Minimum Trade Amount: $5
- Payout: 83%
- Free Demo Account: Open Demo
- Overall Score 8.1/10
Established in 2014, Porter Finance is a relatively new binary options broker but within a very short period, it has made great strides to prove itself as a great partner for trading binary options. Traders from all over the world (except Turkey and US) are impressed by the services and features it provides investors.
Porter Finance chose not to be regulated to improve their flexibility. The broker wanted to make itself available to users from all over the world. This lack of regulation gives the broker and those that trade with it great benefits that regulated brokers do not enjoy. Only the residents of the United States and Turkey are not allowed to trade with this broker.
Account Types & Promotions
Traders on Porter Finance can expect to enjoy bonuses of up to 80% once they make their initial deposit. Porter Finance currently offers 7 types of accounts depending on the amount deposited. They include:
To qualify for this account type, traders need to deposit a minimum of $1,000. It is the smallest account size available at Porter Finance and attracts various benefits such as access to daily market reviews, educational webinars and videos, eBooks, and a 20% welcome bonus.
The Silver account requires traders to deposit at least $5,000. This account attracts several benefits such as 1 risk-free trade, weekly trading signals, a 30% welcome bonus, along with all the other benefits available on the starter package.
The Gold account requires traders to make a deposit of not less than $10,000. The Gold account also attracts unique benefits including 3 risk-free trades, 3 training sessions, daily signals, dedicated brokerage services, live webinars, and a 45% welcome bonus, along with all other benefits available on the silver account.
The Platinum account is one of the senior account types available at Porter Finance. The Platinum account requires a minimum initial investment of $25,000. Traders also enjoy 5 risk-free trades, 5 training sessions, same day withdrawals, money management system, access to managed account services, and a welcome bonus of up to 60%, along with the benefits available on the gold account.
The Diamond account requires a minimum deposit of $50,000. Traders enjoy 10 risk-free trades, expedited withdrawals, Academy VIP membership, and a bonus of up to 80% in addition to all the benefits that Platinum account holders enjoy.
The Royal account is the most senior account type available to individuals. The minimum deposit for the Royal account is $100,000. Traders enjoy access to a personal coach, 50% insured account and Bonus, an exotic vacation to a destination of the client’s choosing in addition to all benefits that Diamond account holders enjoy.
The Corporate account is designed for corporates. To open or gain access to this account, traders are requested to contact customer support.
Porter Finances uses the SpotOption platform, which is a very popular binary options trading platform. The platform has been hailed as being easy to learn and use even for beginner traders. Its layout is slightly customizable and is easy to navigate and find out how your trades are performing, access to webinars, and the current market news. The platform is a popular one among binary options brokers since it has managed to evolve with binary options trading over the years.
Porter Finance provides its traders with a wide range of trading resources and tools including webinars, videos, daily market reviews, eBooks, trade signals, and academy sessions that are accessible depending on the type of account. Traders can also benefit from the economic calendar Porter Finance provides. Traders with this broker can even trade using their mobile devices for those with iOS and Android devices.
Porter Finance provides a healthy mix of asset categories including:
Currencies such as EUR/USD, USD/CHF, EUR/JPY, GBP/USD, USD/JPY, and even exotic pairs such as EUR/NOK, USD/SGD, and EUR/TRY.
Indices such as S&P 500, NASDAQ, FTSE 100 among others.
Stocks such as Barclays, Facebook, Alibaba, Apple, IBM, BP, among others
Commodities such as Silver, Crude Oil, Gold, Copper, among others
Porter Finance offers some of the most popular option types in the binary options industry including:
For these options, you just need to choose the direction you believe the price of the asset will move for a potential payout of up to 81% on your winning trades.
One Touch Options
Traders here are required to predict if the price of an underlying asset will touch a particular predetermined level at least once within the trade period. The one touch option is a high yield option with a potential payout of up to 500%.
The range option offers two price target levels within which the underlying asset’s price needs to remain throughout the option period for you to win the trade. Traders predict whether the price of the underlying asset will remain within the boundaries of the range or not.
Deposits & Withdrawals
Porter Finance offers traders a variety of options for depositing or withdrawing money including credit/debit card, bank transfer, and Neteller. You can deposit money into your account using various currencies including CAD, AUD, GBP, EUR, and USD. Porter Finance traders need to meet the bonus requirements before withdrawing the cash bonus provided. Withdrawals require the verification of personal details including the physical address, credit/debit card details, and identification depending on choice of withdrawal.
Porter Finance offers outstanding customer support accessible via fax, email, Skype, or phone. The customer service department is knowledgeable and courteous and help traders solve nearly all problems and answer any questions satisfactorily. Unfortunately, Porter Finance’s customer service representatives speak in English predominantly.
Porter Finance offers generous deposit bonuses, high returns on investment, and timely processing of withdrawals. All these things are what make binary options trading platforms highly enjoyable to trade on. With outstanding customer service, the easy-to-use trading platform, and a wide variety of learning tools, Porter Finance is highly recommended for binary options traders of all levels.