Is Porter Finance a Scam

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Porter Finance Review

Porter Finance (PorterFinance.com) Review

Porter Finance is a London-based binary options broker founded in 2020. While they are not regulated, they have excellent features and are already establishing a sterling reputation. A wide variety of different trades, a wealth of learning materials, and a beautifully designed website all make them a broker to consider.

  • Official Website: https://www.porterfinance.com/
  • Headquarters: London, UK
  • Phone number: +44-2035192532 (domestic numbers available around the globe)
  • USA traders no longer accepted 9/14/15! (SpotOption platform leaves the US market and forces all of their operators to do the same)
  • .
  • Trading platform: SpotOption

Is Porter Finance (Porterfinance.com) a Scam?

In a word, no! Even though they are not regulated, this broker demonstrates a strong understanding of regulatory laws, as well as a commitment to stay compliant. You may have noticed that most brokers fall into one of two categories: regulated without accepting USA traders, or not regulated and accepting USA traders.

Here is what Porter Finance says in their terms and conditions:

“USA citizens are restricted on this trading platform from trading currencies and commodities due to U.S. regulation by the CFTC.”

This is a clear and correct understanding of the CFTC guidelines for USA traders trading binary options! Most brokers flat out misinterpret this or behave as if they are completely unaware of it. USA traders can legally trade binary options, and Porter Finance is respecting USA laws while allowing USA traders access to their services. It is so great to see a broker that actually understands regulatory concerns. This is quite rare! So no, Porter Finance is definitely not a scam! Of course it is always wise to read what other traders have to say here.

Deposit Info – Porter Finance Minimum Deposit

Fast account registration makes taking the first steps quick and easy.

  • Get started with just $200.
  • Deposit methods: Credit or debit card, wire transfer, NETELLER.
  • Trade in USD, UR, GBP, AUD, or CAD.

What do you need to know about deposits and withdrawals? There are $30 fees for wire transfers, which is pretty much the industry standard, so this is to be expected. Your first withdrawal of the month is free, but after that, there are additional $30 fees (this is also not unusual, even if it is a bit annoying). The minimum withdrawal threshold for credit and debit card transactions is only $30, which is much lower and more reasonable than the typical $100. The only drawback? If you want to withdraw more money than you deposited through your credit or debit card or electronic payment system, you have to use a wire transfer and pay the fee.

While you are opening your account, you will see the account tiers listed along the right-hand side of the page. While $200 is the minimum deposit, you will want to deposit at least $250 in order to obtain a Beginner Account, which includes a 30% bonus, weekly market reviews, and a trading eBook. A Standard Account is available if you deposit $750 or more. This comes with a 40% bonus, the same benefits as the Beginner Account, plus daily market reviews, Academy Membership, and a trading strategy.

Depositing $1,000 will get you an Executive Account, with a 75% bonus. You again get all of the previous benefits, plus VIP Academy Membership, three trading strategies, money management training, and 5 risk-free trades. If you have $100,000 or more to deposit, you can open a VIP Account with special benefits. As you can see, there are a lot of advantages to opening an account on this site. This broker seems very much invested in the success of their clients.

Types of Binary Options Available

There are so many different types of options to trade on Porter Finance! You can trade High/Low options, including Long Term and 60 Second options. You can also try your hand at One Touch trading, Pairs trading (where you profit on the relative performance of one asset vs. another), or Ladder trading. Ladder trading allows you to earn profits as high as 1500%! This is an excellent amount of variety; there really is something for everyone here.

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Trading and Training Features at Porter Finance:

  • Trade on your Android or iOS mobile device. The links to the apps are right at the bottom of the porterfinance homepage.
  • Double up, rollover, and buy-me-out are all available to help you control your trades.
  • Trade as little as $10 or as much as $2,500.
  • Social trading. Follow trades by others on the website.
  • While there is sadly no demo account on this site, you can still use risk-free trades with a qualifying account.
  • There are plenty of training resources available to traders!

What Products Can You Trade on Porter Finance?
Stocks
IBM
MICROSOFT (US)
APPLE (US)
BAE SYSTEMS (LONDON)
BP (BRITISH PETROLEUM)
CITI (US)
COCA COLA (US)
GAZPROM (RUSSIA)
HSBC HOLDINGS (LONDON)
LUKOIL (RUSSIA)
NIKE (US)
NISSAN MOTOR
REUTERS (US THOMSON REUTERS)
ROLLS ROYCE (LONDON)
SBERBANK (RUSSIA)
TATA MOTORS (INDIA)
TESCO
TEVA .TA
TURKCELL (TURKEY)

Bitcoin/USD
EUR/GBP
EUR/JPY
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
USD/RUB
USD/SGD
USD/TRY
USD/ZAR

COFFEE
GOLD
OIL (LIGHT SWEET CRUDE)
PLATINUM
SILVER
SUGAR
WHEAT

BOMBAY SE
CAC 40 (FRANCE)
DAX (GERMANY)
DOW (US)
DUBAI FINANCIAL MARKET GENERAL INDEX (DUBAI)
FTSE 100 (UK)
HANG SENG (HONG KONG)
ISE 30 (ISTANBUL STOCK EXCHANGE, ISTANBUL, TURKEY)
KL FUTURE
KUWAIT GENERAL INDEX (KUWAIT):
MICEX 10 (MOSCOW INTERBANK EXCHANGE)
MSM 30 (OMAN)
NASDAQ (US)
NIKKEI 225 (JAPAN)
RTS (RUSSIAN TRADING SYSTEM, MOSCOW, RUSSIA)
S&P 500 (US)
SSE 180 (SHANGHAI STOCK EXCHANGE)
TADAWUL (SAUDI STOCK EXCHANGE)
TEL AVIV 25
TOPIX

Final Thoughts on Porter Finance

Porter Finance is one of the most exciting binary options brokers we have stumbled across in quite some time. Is this site perfect? With no demo account and a few withdrawal terms that are a bit restrictive, there is no way to say “yes” to that, but then again, we have never encountered a perfect broker before. Porter Finance is however as close to perfect as anything we have seen. The withdrawal terms are not ideal, but they are much better than most. There are plenty of training materials and programs available to traders at all account levels. You can participate in numerous different types of trades, so there are a lot of ways you can make money with Porter Finance. The website is thorough and provides comprehensive, easy-to-locate information on a wide array of topics. Reading through it, we had very few questions. If you do have questions, though, Porter Finance’s customer service team is standing by.

In short, this is an excellent broker to trade with, whether you are located in or outside the USA. It is refreshing to find a broker that understands CFTC laws and is striving to be compliant, and it makes their unregulated status far less of a concern than it would normally be. This broker is making the extra effort to offer top-shelf services to customers, and we highly recommend you check them out!

Is Porter Finance a Scam?

Conclusion:

We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

Between 74-89 % of retail investor accounts lose money when trading CFDs

Porter Finance online binary options trading platform is one of the recently introduced online trading platforms. It started the online operation in the year 2020 and its online experience has grown since then. They have attracted traders from all over the world due to the features and services they offer. One of the notable characteristics of this platform is its legit structure and organized way of operations. Porter Finance online trading platform is not a scam.

There are factors that proof its genuine status. They have a 24/7 customer service support through which traders can get assistance. There response rate is also admirable in that they reply and assist traders with quickness and effectiveness. There are also legitimate methods through which traders can deposit funds to their accounts. Traders can deposit funds using the MasterCard, Visa, wire transfer, Carte Bleue, Skrill, Moneybookers and Visa Electron. Traders can also access customer service through the phones, chat, email or Skype when they encounter any challenges while interacting with the platform.

It is one of the newest online trading platforms after commencing its operations in the year 2020. The online trading platform has been able to attract audiences or users from all nationalities excluding Turkey residents. The platform is no scam and has an emphasis on customer service to make sure they help out all their customers. Scams sites do not have clear ways of how funds change hands on the platform (on withdrawal requests and also deposits). The main aim of scam sites is to acquire easy money from the vulnerable extensive audience available. Since these scams are available online, they can con audiences from different nationalities and embezzle their funds.

One way to know if an online broker is advisable is to enquire whether they are licensed by one the many regulatory bodies available. Online brokers are then allowed to operate or not operate in certain regions by the regulatory bodies. Scam sites are able to operate as unregulated brokers and operate all over the world.

The regulatory bodies mean a great deal to traders engaging in online binary options trading platforms. They help to ensure that traders receive safe and reliable service by these platforms. On the other hand, there are citizens that are denied the chance to trade on these platforms for they miss out on the chance to earn profits on trading assets.

Are There Any Porter Finance Complaints?

Porter Finance online trading platform received no complaints on their services or operations. They have put all measures possible to curb any complaints that would result. They have a 24/7 customer care support where all traders can get assistance on all their queries. Traders can reach the customer support through Skype, chat, on e-mail or on the phone. Their response on all queries is admirable as they give a quick response to their traders. Traders can reach them on the phone from these countries; Canada, Australia, USA, New Zealand, South Africa and the UK. Porter Finance customer care support only supports the English language. There is also a tab on FAQs for traders to seek for assistance when they have queries.

The measures placed by Porter Finance to solve customer queries have contributed a lot in eliminating any complaints regarding their level of service. The traders can seek assistance anytime on the platform and easily solve their queries. All traders are able to enjoy the ever present customer service support offered and most of their complaints or worries are handled by professional personnel in real time. Immediate response to inquiries is a plus for Porter Finance platform since traders do not stay stranded when they want to trade or are in the process of trading.

The demo account introduced by Porter Finance is another feature that helps new traders to understand the trade tricks and ways. This feature eliminates possibilities of those traders to experience challenges while trading online. Traders using Porter Finance online binary options trading platform have reference materials which they can use when they experience problems when interacting with the platform. The training materials and the e-book acquired during sign up are resourceful materials for any financial market strategies and binary options information. They also provide Porter Finance reviews to the traders while are a source of information on the market trends. The reviews educate traders and make them aware of their surrounding markets. This makes the traders start to interact with the site as fully equipped users with no fear for them to incur losses or make wrong decisions.

Is Porter Finance Regulated?

Porter Finance online binary options trading platform has been in operation since 2020. There are a number of brokers offering online binary options trading platforms. However, there are regulatory bodies that govern the operations of these brokers in different countries. Regulations are set to streamline broker operations in a certain way. As much as the regulations are good, they also limit traders in certain regions to carry out trades on the assets presented on these platforms. Most of the renowned regulations set on certain online trading platforms are such that they restrict people for specific regions from trading on a specific platform.

Porter Finance online trading platform is not regulated and traders from all over the world can trade using the platform expect residents of Turkey. The good thing about regulations is that it protects the traders from any fraud cases and an assurance that their funds are safe. This aspect gives the traders freedom of trade on those regulated platforms without any fear of losing their funds. Another good side about regulations is that there is an assurance that the services offered are standard and are covering the needs of the traders.

However, there is a bad side to regulations. They restrict traders from specific regions from carrying out trades using the platforms and also deny them the fun of doing the online trade. Any trader residing in these regions faces the hindrance of making earnings online when such regulations are in place.

An unregulated online binary options trading broker has the freedom to attract and engage traders all over the world. People living in regions or countries where certain online platforms are restricted, they can sign up with unregulated brokers and do their trades online.

The regulated sites are safe to trade in for the traders. Some of the regulatory bodies for online binary options trading platforms are; MiFID of European Union, CySEC in Cyprus, FSPR in New Zealand or FCA in England. These bodies are known to set restrictions to online trading platforms as a way to protect the traders from manipulation or fraud on their funds. Without these regulatory bodies, the online market would be full of fraudsters and scam sites which would destroy the general online market standpoint. When a specific area is restricted for people to do trades on other platforms it would be considered as an illegal act when people involve in online trades from those sites. Traders should also seek clarity on the regulations before they commit their funds for trades on online trading platforms.

Porter Finance USA

Porter Finance online trading platform provides a way for traders to trade on its available assets and earn money. The fact that it is an online platform, it is able to attract a big number of traders all over the world. Traders from all nationalities can sign up on the platform except those from Turkey. These means that all USA residents can engage on trades presented on the platform.

There are many assets available for traders to trade on which include; stocks, commodities, currencies, and indices. Trading on these assets is what attracts traders all over the world and the profits or earnings they would receive from the trades. The platform is easy to use for even the new users and they can make profits as soon as they sign up to create their accounts. Traders are also required to deposit money on their accounts for them to use the funds on trades.

Porter Finance online binary options trading platform is available for USA citizens. This broker is unregulated and, therefore, their operations are available to all traders from all nationalities excluding citizens of Turkey. Traders are also able to reach their 24/7 customer service support on the phone from the USA and their queries would be sorted out.

On most of the times, online trading platforms are restricted to operate in certain regions by regulatory bodies. These regulatory bodies deny those residents a chance to enjoy profits earned online and have fun while trading on the available assets. The regulatory bodies, on the other hand, assure traders of the safety of their funds and reliable service from the online trading platforms. They also establish some of the legit sites and their restrictive measure is a way to protect their citizens from manipulative brokers who would embezzle the funds of the traders. Most traders are vulnerable to those brokers who only mind about their selfish gains of acquiring funds from genuine traders. This is evident with most of the scam platforms available. Porter Finance platform is not a scam. It is a safe and reliable online trading platform for all traders.

CySEC has not licensed Porter Finance and it is the reason why it has allowed operations in the USA. Some of the older online trading platforms are restricted to engage USA resident in trading using those platforms. The newer platforms such as Porter Finance are yet to be licensed.

Porter Finance Withdrawal

Porter Finance withdrawal is an option for the traders to withdraw their funds from the Porter Finance platform. The earnings are made from the many available assets for which the trade on. The more the viable trades, the high profit will be there for our trader.

Withdrawal of funds from Porter Finance platform is simple, fast and takes only two days to process. Porter Finance brokers have set withdrawal limits depending on what option the trader will be using to withdraw the funds. Some of these limits are as follows; credit cards have a minimum withdrawal of $30, bank accounts have a minimum withdrawal of $100 and Skrill has a minimum withdrawal of $30. They have an attractive feature for the trader which is that for every first withdrawal the trader requests, there will be no fees charged for the withdrawal. Whereas there will be charges incurred for any other withdrawal within the same month.

One of the most common information that should be clear is the deposit and withdrawal options for all traders. Traders have an interest in monitoring their funds, as the core interest to engage in the online binary options trading platforms is the ability to make profits. Any unclear information about how their funds move around the platform would be a total turn off to traders, especially those willing to start up with the platform. Porter Finance is very clear on their withdrawal options available for their traders. They are legit ways of withdrawal mostly supported in different countries.

Traders are able to get their funds or profits made online by placing withdrawal requests and are able to receive funds through the specified channels. The funds reach the traders within a short period of two days. This effectiveness in processing the trader’s funds is a plus for Porter Finance as is one of the features that encourage traders to plan short budgets on their online funds. The ability of an online binary options trading platform to process withdrawal funds for their traders within a short time is an indication of the quality of service offered by their personnel.

Master the markets with IQ Option

Porter Finance Review

Porter Finance is a new binary options broker offering 60 second options, as well as a highly trained and professional staff that provide a very high level of customer service.

Quick Update: Porter Finance is no longer a recommended broker.

Key Facts:

  • Minimum Deposit: $250
  • Minimum Trade: $5 on Short Term options
  • Accepted Currencies: GBP, USD, EUR, CAD, AUD
  • US Traders Welcome
  • Platform: Spotoption
  • Bonus: Up to 200% and 10 Risk Free Trades

Registration:
Signing up is a simple straightforward process. Simply enter your personal details in the form and click the signup button.

Funding Your Account and Payment Methods:
Depositing is easy to do, simply click the deposit button and you will see a variety of payment options available including Neteller (not for US traders) Visa, Mastercard, Debit Cards, Amex, and Wire Transfers. Payouts are done via bank transfers since that is the most secure method.

Trading Features:

  • Binary options (High/Low)
  • Currency Pairs
  • Long Term Contracts
  • Hyper (Short Term Contracts including 30, 60 seconds as well as 2, 5, and 10 minutes)
  • One Touch
  • Ladder Options

Safety:
Similar to other brokers, Porter Finance employs an encryption layer on all transactions so all the credit card and private information is stored safely on external servers.

Assets Index:
The assets include the standard Google, Apple, and EUR/USD types, but also some unusual and interesting additions like ENI and OTC exchange rates for currencies. You will not be able to find these with most brokers.

Education:
They pretty much have the standard package and its put together very nicely especially if you are just getting started.

Account Types:
There are 4 account types. Basic, Standard, Silver and Gold. Obviously the more you invest the more perks and benefits you stand to receive.

Customer Care:
As mentioned previously this is one area this broker excels at, and it comes as no surprise that people who invest stay with this broker for the long term because they are well looked after and management makes sure this trend continues.

Signals and Automated Trading:
This broker does not offer these tools, you would have to find an alternative solution like Alex Kaminsky’s binary secret code or similar services that are compatible with Porter Finance.

Conclusions and Recommendations:
Porter Finance is a really nice broker to start out with and and get into binary options trading. The environment is friendly and navigation is smooth, intuitive, and easy to grasp. The customer service is really professional, courteous, and will help you find your way around. However, they are not regulated and if you speak any language other than English you will most likely need Google Translate to get along. Still, they have a nice service and they are a reliable and honest broker that payout winnings on a timely manner so in this review they get two thumbs up and my official seal of approval.

Leave a message below, tell us what you think!

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Best Options Broker 2020!
    Great Choice For Beginners!
    Free Trading Education!
    Free Demo Account 1000$!
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Only For Experienced Traders!

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