Editor’s Verdict
Overview
Review
Headquarters | United Kingdom |
|---|---|
Year Established | 2014 |
Execution Type(s) | Binary Options |
Minimum Deposit | $200 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
Porter Finance, founded in 2014, is a binary options broker domiciled in London, UK. Porter Finance may be the new kid on the block but with its dynamic platform and choice of over 100 different assets, it is poised to become a leader in the industry. Porter Finance is also one of the few binary option brokers that accept U.S. clients.
Accounts
Porter Finance offers its clients a choice of four different accounts. The minimum deposit for opening the Beginner account is $200 and there is a bonus of up to 30% on the first deposit. The Standard account requires $750 to start and a bonus of up to 40% is available.
$1000 is needed to open an Executive account which comes with a 75% bonus, 5 risk-free trades, 3 trading strategies and money management training.
A VIP account is available for big investors who would like to deposit $100,000 or more.
Anyone opening an account receives a free ebook, Academy membership and at least one trading strategy.
The minimum trade amount at Porter Finance is $25 per trade. The maximum trade amount is $2500.
Features
The Porter Finance site is easy to navigate and highly intuitive with everything clearly marked out on the top bar. Selecting an asset is done from a drop down box, making navigation simple. Drop boxes are also used for choosing the expiration time, and the amount to be traded can just be typed in. Assets include indices, stocks, commodities, and currency pairs. Many of the underlying assets that they offer are not offered elsewhere, such as the Tel Aviv 25 index.
The Glossary of terms is an added feature that not all binary option brokers offer their traders. The list is all-inclusive and informative.
I was somewhat surprised to see that the website is only offered in English.
Bonuses
Deposit bonuses are mentioned in the different account descriptions but I could not find any additional information on other bonuses or promotions. Perhaps in the future they will offer them.
Education
When it comes to educating traders, Porter Finance is way ahead of the game. At their Education Academy, they cater to traders of all levels. Their ongoing mission is to keep investors up-to-date on all the latest trends and developments in the binary trading world and they use cutting-edge technology in their online video tutorials and live webinar streaming.
The online tutorials range from basic information about binary option trading to more advanced subjects such as Support and Resistance, Aggressive Trading 10/30 rule, Market Analysis, Trading Psychology and other intriguing topics.
Their regular live webinar sessions are led by expert financial analysts and provide key market insights and valuable advice on how to perfect one’s trading strategy.
The Porter Finance eBook is a manual for binary option traders where leading financial experts have shared their market experience on key trading strategies and tactical tricks to maximize a trader’s payout potential. Beginners in particular will benefit from the eBook’s extensive glossary of trading terms and step-by-step guide on how to trade binary options.
There is mention of a market review section but that has not been posted to the site at the time of writing this Porter Finance review.
An Economic calendar is available which is both comprehensive and clearly presented.
Deposits/Withdrawals
Money transactions at Porter Finance can be made using a MasterCard, Visa, American Express or Discover as well as wire transfers directly from a bank, or an online wallet, such as Skrill or CashU.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/7 |
Website Languages |  |
Customer support is available 24/7 via email, phone and chat. When I spoke with Chat while doing this review, I found them to be very service oriented pleasant to deal with.
Conclusion
Porter Finance seems to cover all the necessary features needed to trade with ease. The only thing missing at the moment is the fact that they are not yet regulated. However, they are still relatively new and there is a good chance that this will be happening in the near future.
Features
There are many outstanding features at Porter Finance but it is their strong support team that stands out from the rest. What they offer is the same as that of other brokers but the difference is how they are presented, how easy they are to use, and how much help you can get when you need it.
All this means that Porter Finance values its customers and is interested in seeing them succeed. They strongly believe that a good business cannot keep going if it doesn’t provide value to its customers.
Trading Platform
Automated Trading | |
|---|---|
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
Platforms
SpotOption
Porter Finance uses the SpotOption platform, one of the most popular binary option platforms in the market today. The platform offers built in option indicators and offers some unique features that give keep binary options trading fast-paced and dynamic. Some of the additional features of a SpotOption platform are not offered at Porter Finance but there are certainly enough for traders of all levels to dig their teeth into.
The various binary option choices are listed on the landing page and each one is accompanied by a colorful graph that shows live activity and ongoing price movements.
The 60 seconds option is superfast and full of action. Traders can open multiple positions, and view the results in less than 60 seconds.
With the One Touch binary, the price has to reach the goal rate only once during the following week and traders can earn the return percentage of his/her investment. This is a bit more challenging, as direction is not enough – it actually has to hit the target. However, the high payouts can make it well worth the while, going up to 83%.
Roll-Over and Double Up are two profit maximizing features that allow traders to create larger positions. Roll Over allows the trader to delay expiry time and Double Up allows them to recreate the same position, with the new market conditions.
Using the Pairs option, a trader can trade on one asset vs. another, for example, Gold vs. Silver.
With the Ladder option, traders can receive multiple strike prices with different dynamic payouts for each position, allowing for relatively high payouts for short term trades.
There is also a long-term option for traders who are in for the long term.