Porter Finance Binary Options Broker Review
One of the best newly established Binary Options Broker around! Great Reputation! Accepts US Traders!
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US Traders Accepted Broker: Porter Finance (Min. Deposit: $200, Min. Trade: $5)
Porter Finance was established in 2014 which make them a relatively new contender in the binary options industry. Despite that, they have been gaining a lot of attention and trust within the industry which gave them their current positive reputation. This broker is owned by Running Forest Ltd with an address in London, UK. This broker has all the necessary services that a good binary options broker should have and their reputation gives an impression that they are serious in providing their services. While we have more established brokers, Porter Finance continues to gain popularity due to their unique features. Features like a minimum deposit of $200 (USD or Euro) plus the minimum trade amount of $5 for 60 seconds trades and $10 minimum trade amount for other trades. This is one of the attractions where people that wants to try out binary options tradings and to be able to trade lesser amount to manage their risk. Compared to most binary options brokers which has a minimum trade amount of $25, trading with Porter Finance allows traders to risk lesser amount of $5 or $10 in each trades. Their minimum deposit is also lower than the usual $250 that we see for most binary options brokers. They also have more than 100 assets available for traders to choose from with a payout up to 83%. Although they are not regulated, they are certainly operating with professional and good ethics. One of the major advantage for Porter Finance is that they accept US traders! In fact they are one of the favorite binary options brokers for US traders!
Porter Finance’s Trading Platform
Porter Finance has a web-based trading platform and also mobile app platform for both iOS and Android. The trading platform on both devices are very easy to use even for a beginner. The clean and user friendly interface allows even a complete beginner to learn quickly on how to use the platform. The platform also allows advanced features that traders can use to apply different trading strategies with ease. The types of options available to trade are the Call/Put (or Up/Down), Long Term and Ladder Options.The expiry ranges between 30 seconds and up to 6 months.
While being a relatively new binary options broker, Porter Finance has attractive features such as the Buy-Me-Out feature where you are able to close your trade before the expiry time. There is also Rollover feature where you are able to delay your expiry and also the Double up feature that gives you the ability to duplicate your trade. We strongly advise traders to read up and get clear on these new feature before risking a lot of money trading them.
The clean and easy to use outlook in Porter Finance’s trading platform is thanks to the Panda trading platform. This trading platform emphasizes on advanced technologies and user-friendliness. The layout is designed whereby users can navigate between assets and options types required easily. Since this is a web-based platform, there is no download required to use Porter Finance. The recommended browser to trade with this broker is Google Chrome where the trading platform is able to perform at it’s optimal level.
Porter Finance’s Available Asset Classes and Deposit/Withdrawals
There are 4 different types of asset classes available to trade which are stocks, currencies, commodities and indices. The total amount of assets available across all 4 classes are over 100 different types of assets. The stocks assets includes famous names like Apple, Tesco, Nike, IBM and many more.
In order to start trading with Porter Finance, traders are required to deposit an initial funds into their account where the minimum amount will be $200 (USD, EUR, GBP) or $250 (AUD,CAD). Once the trader has chosen their preferred currency, they are not allowed to change to another preferred currency. The deposit process are SSL secured that provides fast and great security during the deposit process.
Withdrawals process with this broker typically takes 2 business days to process the withdrawal request and another additional 5-7 days for your funds to reach the client’s account. The first withdrawals for every month are free and there will be a $30 fee for additional withdrawals while having a minimum withdrawal amount of $30 for credit/debit card, $100 for Wire Transfer. It is important to verify your account correctly with the relevant documents to avoid withdrawals complications. Both deposit and withdrawal methods can be done via various channels such as credit/debit cards, bank wire, Moneybookers (Skrill), Cash, Neteller and a few more.
Porter Finance’s Current Reputation and Good Education Centre
Since it’s establishment in 2014, this broker still maintains a good reputations within the industry with no major negative complaints. The possible negative complaints that we can find are regarding acceptance of bonuses which impose additional terms to your withdrawals. This is common for all binary options brokers that offers bonuses where traders are only allowed to withdraw their funds after a certain trading volume upon accepting bonuses. Hence, we advise traders not to accept bonus from any binary options broker especially beginner traders. Nevertheless, they are a very professional binary options broker that has 24/7 support that can be reached via phone, live chat or email.
Porter Finance also has an extensive learning resources for traders to learn and expand new knowledge in trading. The library has comprehensive eBooks that is suited for traders in their own respective level including beginners. They also have advanced courses for more experienced traders that are seeking to learn new strategies through their webinars and training videos.
Porter Finance Account Type:
- Starter Package: requires a minimum of $200 with weekly market updates, eBook, and up to 30% bonus
- Standard Account: requires a minimum of $1000 with Daily and Weekly Market Reviews, Trading eBook, Academy Membership, 1 Trading Strategy and up to 40% bonus
- Silver Account: requires a minimum of $2,500 for Intermediate Traders with Daily and Weekly Market Reviews, eBook, 5 Webinars, 3 Risk Free Trades, 3 one on one lessons, Dedicated Broker Assigned, Money Management System. Expedited Withdrawals and up to 60% bonus
- Gold Account: requires a minimum of $5,000 for Advanced Traders with Daily and Weekly Market Reviews, eBook, Academy membership, 10 Webinars, 6 Risk Free Trades, Dedicated Broker Assigned, Money Management System, Expedited Withdrawals and up to 85% bonus.
Conclusion for Porter Finance
Porter Finance is gaining it’s popularity as a professional binary options broker with it’s great customer service and support team. Apart from that, their $200 minimum deposit and $5 minimum trade amounts offers traders the flexibility to manage their risk in terms of money management. It is a great binary options broker to choose especially if you are just starting out and looking for a more flexible trading amount and lower than usual minimum deposit. Lastly, the Education Centre from Porter Finance is extremely useful for traders as an educational source for various experience level. We at Binary Options Sentinel is glad to name this broker as one of our Trusted Binary Options Broker and it is a great options for US traders to consider!
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