Why Choose Porter Finance?
- Choice of Trading Accounts
- Social Trading Function
- 100% TRUSTED Broker
Porter Finance Review
Porter Finance has been around since 2014, and has already made a name for themselves as a great platform with very effective trading tools. They were founded by a group of pioneers within the online binary options sector, therefore everything you see on the platform has been tried, tested and is the product of many years of experience. Porter Finance is owned by Oralce Stone LTD, which operate out of 20-22 Wenlock Road, London, N1 7GU, United Kingdom.
Porter Finance accepts traders from all over the world, with the exception of Israel, Turkey, and the U.S. Not many brokers have such an open-door policy to accept traders from all other regions. This is a true highlight of this broker. There are many factors that take a platform from being good to great, and our review team went through this broker in great detail.
One of the key components of a good platform is whether or not they go the extra mile for their clients. We found that Porter Finance puts in the effort to make successful trading a reality not just for seasoned traders but for beginners as well. They do this by using a new feature to provide indicators on the platform itself. They were the first Spotoption platform to do this, and this leads us to believe that this outside-of-the-box thinking is just a taste of the user-led innovation that will continue in years to come. Porter Finance has a solid infrastructure and financial backing, making them one of the more stable brokers in the industry.
Trading Platform and Features
Porter Finance was originally powered by the Spotoption platform, but they have since moved on to the PandaTS platform for an even better offering for traders. This is a great, no hassle platform which requires no download and offers new features such as social trading (where you follow and emulate successful trades). Everything is web based, and seamless – as before. The platform is also available as an app for both Android and iOS, which is great if you’re on the go, or don’t have access to your computer. Simply access your account, place trades, and see the status of your open trades directly from your phone. Every one of the multitude of tradeable assets on the platform are also be available to you on the app. You do not miss out on a thing when crossing platforms and trading on your smartphone. The Panda platform is also optimized for mobile web use, therefore it will work equally well with your mobile web browser.
What makes Porter Finance’s platform unique is that it has been specifically designed to work equally well for traders all levels and experiences. This is because the platform is equipped with six trading tools, where different trading strategies can be used. You have the choice of Regular Binary, Pairs, Long term, One Touch, Ladder, and Short Term Second trades. Short Term trading is very popular, as it includes trading with short term expiries, ranging from 30 seconds to five minutes. You can trade with just one instrument, or a combination of instruments for those that prefer a more complex trading strategy. You also have a the choice of broad range of investment amounts, starting from as little as $5, going all the way to $2,500 – per trade. Traders looking to make larger value trades please note, this maximum is due to increase. Ask your account manager at Porter Finance for more information if you are interested.
We touched on a standout feature; the in-platform trading indicators. This is a huge advantage for technical traders as they have implemented three different strategies; RSI, MACD, and Bollinger Bands. This means that you don’t need to go elsewhere or download external software for analysis, which saves time, minimizes room for error, and allows for more effective trading. We expect other brokers to follow suit and implement this feature, but we can confirm that this is an innovation introduced by Porter Finance.
Trading Accounts and Payouts
Porter Finance offers a number of different trading accounts, each with different perks and advantages. Your eligibility for each account you depends on your deposit amount. The minimum trade limit of ($/€/£ etc)5 and maximum trade limit of ($/€/£ etc)10,000 (in your account currency) applies throughout, although you personal account manager may be able to make exceptions if requested. Porter also offers a demo account with all trading features of real money accounts, which provides the ideal environment to test your trading strategies with zero risk. The demo account might require a minimum deposit ($200), but you may be able to request this pre-deposit. Find out your eligibility and the availability for a demo account by contacting the support department when registering.
Trading account types:
You can gain access to the benefits of the Beginner account by depositing 200 in your account currency ($/€/£ etc). The beginner account offers no bonus, but that’s negotiable. Simply ask your account manager for one, along with, daily market reviews, a trading e-book, as well as a walk through the platform. Porter Finance is great with new customers and will go above and beyond the call of duty to help. Why not try your luck and ask for 10 x free risk-free trades as well? The offer was available at time of writing and you never know what you can get until you ask!
Qualify for the Starter Package account with an investment amount of 1,000 in your account currency ($/€/£ etc). A bonus of up to 20% is offered, along with daily market reviews, a trading e-book, membership to the trading academy (webinars), as well as access to a range of educational videos.
The Silver account requires a starting investment of 5,000 in your account currency ($/€/£ etc). The account offers a bonus of up to 30%. This package also comes with daily market reviews, 1 x risk free trade, 1 x academy session, weekly signals and access to training webinars.
A starting investment of ($/€/£ etc)10,000 will get you up to a 45% bonus, daily market reviews and signals, 3 x risk free trades, 3 x training sessions, live webinars and a dedicated broker.
Traders that make a initial deposit of ($/€/£ etc)25,000 will receive a 60% bonus, daily market reviews and signals, 5 x risk free trades, 5 x training sessions and access to live webinars. This account also provides you with a dedicated broker, however adds managed accounts as a perk. Same day withdrawals are also permitted, along with access to a money management system to ensure you get the best opportunity to profit.
A starting investment of ($/€/£ etc)50,000 will get you up to a 80% bonus. The account also provides daily market reviews and signals, 10 x risk free trades, VIP access to the training Academy, access to live webinars and a dedicated broker/managed accounts. As with the Platinum account, you will be provided guidance and access to a money management system as well as expedited same-day withdrawals.
This premier-level account requires a starting deposit of ($/€/£ etc)100,000. At this level, you are offered the added reassurance of 50% insured account, a generous bonus (tailored to your requirements). You will also gain VIP membership to the training Academy and the services of a personal trading coach. You will of course receive the live webinars, daily signals, a dedicated broker and account manager, a money management system, and expedited withdrawals. If that wasn’t enough, all Royal Account holders are also eligible for the exotic vacation of your choice! A lovely touch for traders at this exclusive level.
The last account type offered is the corporate account. Ideal for money managers that wish to execute trades for clients. This package is built and adjusted according to your trading needs, but it includes all perks from the above accounts and far more. Speak to your account manager, as items can be added as required.
Porter Finance offers payouts that range from 65% up to 81%. Their instruments include a “Hyper” trading option for short-term contracts, highly suited to traders that prefer high risk/high reward scenarios that can win quickly.
Porter Finance offers many options for depositing and withdrawing funds. Most major credit and debit cards are accepted, as well as wire transfer, and a variety of alternative payment methods, depending on your region. Every page is SSL secured, unlike some brokers which only have SSL security enabled on the deposit page. Porter Finance is also PCI compliant, therefore none of your credit card information is stored except for the standard last 4 digits, (for identification purposes).
Deposits are accepted in the currencies EUR, USD, GBP, CAD, and AUD. You can deposit with credit/debit card or wire transfer. The minimum deposit is 200 in the currencies USD, EUR, GBP, and 250 in the currencies CAD and AUD. There is no limit for wire transfer, however. The minimum deposit for wire transfers is ($/€/£ etc)500.
The withdrawal procedure at Porter Finance is fairly simple. The basic procedure is, funds go back the way they were deposited. If you deposited by credit card, you’ll get your funds back to the credit card up to your deposit amount. Any amount above the initial deposit amount will get sent by either wire transfer. The minimum amount per withdrawals is ($/€/£ etc)30 in your account’s currency. Overall we were happy with the withdrawal procedure. The one setback is that there is a $30 fee per withdrawal. There is however a workaround of sorts as every trader gets one free withdrawal per month. Withdrawals get processed quickly. The longest wait time was 3 business days on low-mid level accounts, but Gold Platinum and VIP accounts are eligible for same day withdrawals.
Your trading account must be verified before your first withdrawal with the standard PCI verification documents. You will be required to submit a photo ID, proof of address, and if you deposited by credit/debit card, copies of the front and back of the card, with the CVV code and first 12 digits covered as an extra security measure.
The experience of the Porter Finance staff really comes through in their support department. This company was brought together by well-trained veterans in the industry, so we decided to put them to the test with a series of questions with varying difficulty. Every question we had was answered quickly and explained clearly and eloquently. Emails were answered within 24 business hours at most, (but more often than not on the same day). Their LiveChat operators are quick at answering chat requests, and the representatives on the phone were friendly and knowledgeable.
The support offered by their account managers is remarkable. You are welcome to deposit and begin trading, however every trader is assigned a personal account manager. If you require some extra assistance, simply speak to your account manager. They are there to help you – and we suggest you use that resource as their top account managers are known to give signals with a high degree of accuracy. Another feature we found helpful was their money management tips, which as every trader knows, is vital.
Why trade with Porter Finance?
Reputable platforms are becoming scarce, regardless of regulatory status and Porter remains at the forefront as a trusted broker. Aside from the three countries (U.S, Turkey, Israel), Porter Finance put no unnecessary restrictions on their traders and this platform is operated to a very high standard. We found that Porter Finance measure up to the best in the game in all major criteria we checked, whether that be support, professionalism, high returns, or quick and easy withdrawals, Porter Finance performed to the highest standards and exceeded our expectations.
Two things we spent a lot of time reviewing is what clients care about most, withdrawal efficiency and security. Porter Finance passed our tests with ease. This didn’t surprise us as the company’s management and staff are experienced, and know how to run a trusted and reliable company.
After passing each test in all the criteria we check, it is with great pleasure that we award Porter Finance the “TradersAsset Approved Broker” status and a Five Star Rating. Try them for yourself. You will not be disappointed.