Our Review of Porter Finance
Porter Finance is a broker that was established in 2015. Porter Finance focuses mainly on online binary options trading, providing both a trading platform and binary options software to help make trading easier.
Account Types + Opening
Porter Finance offers a wide range of account types to choose from. There is a Starter Package which constitutes the cheapest and most basic account, aimed at helping beginners break in to the world of online trading. More complex and high powered accounts, which require higher deposits and which offer more benefits include the Diamond and Royal accounts. There is also a specific Corporate account, which is more of a bespoke service, developed for each individual customer by the experts at Porter Finance.
Promotions, Sign Up + Deposit Bonuses
The main bonuses offered by Porter Finance are associated with signing up to particular accounts. More high powered accounts offer bigger bonuses. For example, with the Starter Package, you get a 20% bonus. With the Diamond account, however, you can reap an 80% bonus. And, the bonuses that are associated with Corporate and Royal accounts are not specified - most probably because they are tailored to suit each individual customer.
Commissions and Fees
Commissions will vary depending on account type, but the fee policy at Porter Finance is very straightfoward. The first withdrawal of every month has no fee associated with it. Further withdrawals during that month will come with a $30 fee attached. There may also be additional fees for withdrawals that are imposed by your payment provider.
Trading Platform Review & Mobile Apps
There is no Porter Finance mobile app available as yet, unfortunately, but the trading platform itself is easy to use and packed with helpful information. For instance, there is a very good FAQs section for information about the company and also an Education section, which teaches users about trading, The site is also updates in real time with news relating to the trading world.
Deposits & Withdrawal Methods + Ease
Deposits and withdrawals can be done by wire, bank card or by an online account like Skrill or PayPal. Deposits and withdrawals go smoothly with Porter Finance, though minimum amounts may apply depending on the type of account that the user holds.
Regulators & Safety: Are they a reliable, legitimate broker or a scam?
Porter Finance was an unlicensed broker. However, it has hitherto maintained a very good reputation among traders. A license is not necessary for a broker to trade legitimately, so it is fine to use Porter Finance for trading.
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