Porter Finance is a relatively new binary options broker founded in 2014 but they have already gain trust from traders and a good reputation in the industry within a short period. It has a headquarter in Temple Fortune, London, England and is actually a subsidiary of a company called Running Forest Partners LTD. Porter Finance accepts US traders as well as traders from around the world excluding traders from Israel and Turkey.
Trading Platform
Porter Finance offers the web based Panda trading platform that list more than 200 tradeable assets. There are many types of options including standard binary, range, hyper, and one touch. The short term options features a wide selection of expiry time including 30 seconds, 60 seconds, and 10 minutes. The minimum trade size is $5 while the maximum trade size is $2500. For the standard call/put options, the average payout is 81% for in-the-money trade and the average return is 5% for out-of-money trades.
The platform supports features such as Buy-Me-Out, Rollover and Double Up. The Buy-Me-Out feature allows you to close your trade early whereas the Rollover feature allows you to delay the expiry time. The double up feature is useful for traders who want to place a duplicate trade. The best browser to use for accessing the trading platform is the Google Chrome browser.
Types of Trading Accounts
Porter Finance offers 7 types of accounts including starter, silver, gold, platinum, diamond, royal and corporate. Starter account requires a minimum deposit of $1000 and you get 20% deposit bonus when you make a deposit. Silver account is for traders who want to invest at least $5000 and it also reward traders with a 30% bonus. You must deposit at least $10000 if you want to open a Gold account. Traders who sign up for Gold account will enjoy several benefits including 45% bonus, 3 risk free trades, 3 training sessions, and dedicated broker. To open a Platinum account, you must deposit a minimum of $25000 into your account. Platinum account holders will enjoy 60% bonus, 5 risk free trades, 5 training sessions, dedicated broker, and money management system.
Diamond account is for people who want to deposit at least $50000. With a Diamond account, you will be rewarded with 80% bonus, 10 risk free trades, and academy VIP membership. Royal account is for experienced binary options traders that is interested to deposit at least $100,000. if you have a royal account, up to 50% of the funds in your account will be insured. You also get a personal coach, academy VIP membership and access to the live webinars.
They offer deposit bonus on top of the funds you deposited and you also get a free exotic holiday plan of your choice.
Customer Support
Porter Finance offers customers support via three methods including telephone, email and live chat for customers around the world. If you want to contact their customer support, make sure you contact them in between 06:00 GMT to 23:00 GMT. They provide toll free telephone support for six countries including UK, Canada, New Zealand, USA, Australia and South Africa.
Education Center
Porter Finance has an education center that provides many types of tutorials including basics on binary options trading, in depth course, advance course, and e-book. All accounts have access to webinars but the in depth and advanced course are only available to Gold account and above.
Deposits & Withdrawals
Porter Finance allows you to perform deposits and withdrawal via 3 methods including credit cards, bank wire, and Neteller. If you choose to deposit via bank wire, you must deposit at least $500. Credit cards deposits allow you to see the funds in your account almost instantly. If you choose the deposit via bank wire, you will have to wait for 5 days to see the funds in your account.
You will not be charged with any fee when you withdraw via credit card but bank wire withdrawal will be charged with a processing fee of $30. It takes 2 days for them to process your withdrawal request and another 5-7 days for the funds to arrive in your account.
You can only withdraw to the same card and the maximum withdrawal amount should not be more than the initial investment amount. You can withdraw the remaining funds with bank wire transfer.
Is Porter Finance scam?
In conclusion, Porter Finance has proven itself to be a trustworthy broker that offers great trading tools, resource center, fast withdrawal and high security. Their staff are experienced and know what they are doing so Porter Finance is definitely recommended to all traders.