We have found out that Porter Finance has shut down their operations.
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It does not happen a lot but once in a while when we do a review where along comes a newer broker that we really feel does things right. That is exactly what you will read here about this newer broker we are about to review. They truly have one of the most well rounded binary options trading sites that we have seen. The name of the broker is Porter Finance and we now know why we have been hearing so much about them. Let’s take a look at this exciting newer broker a little more closely.
Porter Finance was first established and traded on in 2014. They are a binary option broker headquartered from the United Kingdom and is allowed to be traded on by anyone that does not live in Turkey and US. They are a binary options trading site that has consistently grown in the number of investors that trade with them since they first opened. That is a big sign that a company is doing something right when it comes to binary options trading.
It is a company that has already been recognized with several awards for the way they use forward thinking in the design of their website and the multiple options that traders can choose from when using their trading platform. It seemed like everything that our review team looked at it led us to nodding our collective heads in approval. We simply cannot say enough good things about the site. Ok so we like it but everyone needs to judge for themselves, so let’s get on with the review and see if our readers come up with the same conclusions we did concerning Porter Finance.
Online since: 2014
Software: Panda TTS
Max Returns: 83%
Minimum Deposit: $200
Minimum Investment: $5
Maximum Investment: $2500
Currencies: USD, EUR, GBP, CAD, AUD
Countries: All nations excl. Turkey
– Exceptional deposit bonus
– High Returns on Investment
– Small minimum investment
– A very user friendly trading platform interface
– Wide variety of options
– No customers from Turkey and US accepted
7 Binary Options Rating:
When a website gets a 5 star rating from us you know it is a website with a wide assortment of key features that we really liked; such was the case with Porter Finance. We could dedicate about 10 pages to describing the key features alone on the website. We know you just want a quick summation for your needs so that is what you will get.
One of the nice things that Porter Finance brings to the binary option trading table is a fresh new way of doing things. They chose not to limit themselves by signing up with a regulatory agency so they could give their investors a wider variety of assets to trade on and a wider variety of options to trade them with. One recurring theme you will hear throughout this article is that Porter Finance likes to make trading on their site fun and interesting. There is nothing that says that something as serious as financial market trading can’t be fun while doing it, almost like using an automated binary option robot.
We were impressed by the bonuses that Porter Finance had to offer for sure. You don’t see a site very often that has no limit when it comes to deposit bonuses; that is a site that really wants to sign up some new customers and get them trading. Who doesn’t like a little ‘free money’ in their account every once in a while. Signup bonuses can open up a lot of doors to binary options traders; they can be the deciding factor whether to make a trade one might ordinarily not want too risk or they can be used to help offset losses from learning a new trading platform. Bonuses can do all of these things and more.
The signup bonuses on Porter Finance are based on the amount of the customers initial deposit level. When a customer signs up for the website they are also placed in a certain account level; we will talk more about this under accounts. Each account level has a signup bonus percentage attached to it and once the deposit is made that signup bonus percentage will be added to an account. It usually happens very quickly.
It must also be noted that signup bonuses cannot be withdrawn until certain conditions are met, otherwise people would just be signing up for binary options trading sites just to take the bonus money and then leave the site. Brokers now have trading stipulations that require a minimum amount of trading before any money can be withdrawn. In Porter Finance’s case that amount is equivalent to trading 30 times the amount of the signup bonus. If after that a percentage of the bonus is still in the account, then a customer can withdraw any or all of the leftover bonus money.
Porter Finance also has the right to offer special bonuses at any time such as seasonal bonuses, additional deposit bonuses and loyalty bonuses.
Maximum Return on Investment (trade payout)
We had to make a deposit to get on the site and do some exploring so while we were doing that we decided to place some trades too. Porter Finance claims that their return on investments can be as high as 83%; that is a figure that is higher than the overall average in the industry. After making a few winning trades we found this statement not to be very far off at all. Those are some good returns on any investment if you are cashing in on your trades often enough.
Returns on investment are a sure sign of a broker’s integrity and fairness and it also reflects that the broker is doing a good job of other things too that are helping those that trade with them be successful. There are minimum and maximum trades that are designated on the website; the amount of the minimum investment is a very low $5 and the maximum investment figure is $2500. That is an investment range that should easily satisfy both novice and big time traders.
Types of accounts
There are many different levels of accounts on Porter Finance; as is standard practice in the industry different account levels have different features that are assigned to them. The general rule is the higher the deposit the greater access to more features. Higher accounts generally have better features than the accounts below them and have all the features that the lower accounts have too.
Porter Finance Accounts:
- Basic Starting investment = $250
This account level features up to a 25% trading bonus, daily and weekly updates of the market, and a free informational eBook. This trading level is best for those that are just beginning to trade binary options and are looking to see if it is for them.
- Standard Starting investment = $1000
This account level features up to a 40% trading bonus, daily and weekly updates of the market, a free informational eBook, a trading academy membership and 1 free trading strategy. This account is for those investors that are getting some experience trading and want to take the serious of their trading up one notch.
- Silver Starting investment = $2500
This account level features up to a 60% trading bonus, daily and weekly updates of the market, a free informational eBook, a trading academy membership, 1 free trading strategy, 5 informational webinars, 3 risk free trades, 3 one on one lessons with a dedicated broker, a system to help you manage your money and extremely fast withdrawals. This account level is no doubt for those who take their trading very seriously.
- Gold Starting investment = $5000
This account level features up to an 85% trading bonus, daily and weekly updates of the market, a free informational eBook, a trading academy membership, 1 free trading strategy, 5 informational webinars, 6 risk free trades, 3 one on one lessons with a dedicated broker, a system to help you manage your money, extremely fast withdrawals and 10 informational webinars.
Porter Finance uses the very popular SpotOption binary options trading platform. This platform has been shown to be simple to learn and use even for novice traders. It features a slightly customizable layout that is very easy to navigate around to find such things as how your trades are doing, current market news and to access a webinar. The SpotOption platform is popular because of the way it has evolved with binary options trading over the years.
Assets and Trading
Porter Finance likes to offer its traders a large variety of assets in which to choose from and also will keep track of current market news about them. It seems like many traders have certain assets that they do well trading and Porter Finance ensures that is the case by having a large choice of assets to choose from. The asset list includes both stocks, indices, commodities and matched currency pairs.
The options that investors have on Porter Finance available to them are High/Low options, One Touch options, Long Term options, 60 second options, Ladder Options and Pair Options. That is as big of an assortment of options as you will find on any binary options trading site. These options can be traded on such timeframes as 30 seconds, 60 seconds, 5 minutes, 30 minutes, 1 hour, 1 day, End of Day, End of Month and 30 day timeframes also.
Porter Finance has a variety of free learning tools that are available to those who sign up to trade with them. These include full access to their Education Center, in depth Binary options courses for beginners and advanced traders, a free informational EBook and several online webinars.
Perhaps the best learning tool is Porter Finances demo account. This will help any level trader adapt to the trading platform as they become familiar with how to use it. It also will help investors gain trading confidence through trial and error without risking any real money in the process.
Banking is another area where Porter Finance is really strong. They have a large of amount of options for making deposits and withdrawals. These include Visa, MasterCard, Amex, Cartebleue, Bank Wire transfers, Skrill Moneybookers, Diners Club, iDeal and Maestro.
The minimum withdrawal is $30 for a credit card, $30 for Skrill and $100 for a deposit into a bank account. Porter Finance often gets most withdrawals done in 2 days which is much better than the industry standard.
Banking on Porter Finance is also done in a very safe and secure manner. The site is SSL encrypted to protect the sensitive information of those that trade on it. It is all part of the companies policy of trying to do better than the competition.
Porter Finance features outstanding customer service that can be accessed by phone, chat on Skype, e-mail, and by fax. Their customer service team is both courteous and knowledgeable and can help a trader solve almost any problems or answer their hardest questions easily. Unfortunately there customer service personnel speak predominantly in English.
Porter Finance definitely gets some very high marks from us, especially for their high return on investment, very generous signing bonuses and the speed of their withdrawals. These are all things that make a site very enjoyable to place trades on. With the excellent customer support, the wide variety of learning tools and the easy to use trading platform, we have no problem highly recommending Porter Finance to all levels of binary options traders.
Customer Service: Live Chat / Email: firstname.lastname@example.org
Trading Options: High / Low, One Touch, 60seconds, Long Term, Pair Options, Ladder Options
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 30 sec, 60 sec, 5min, 15 min, 30 min, 1 hr, 24h, 24 hr+, End of Day, End of Week, End of Month, 30 days, 150 days
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Skrill Moneybookers, Visa Electron, Cartebleue, Amex
Withdrawal Time: 2 days
Demo account: Yes
7 Binary Options review: Porter Finance: stars.