Porter Finance is a UK based options broker that has been well recommended by many review sites and traders. The broker has been working hard at acquiring a stellar reputation ever since it was launched in 2014. They welcome traders from all countries to trade binary options with them even US traders. They are offering a payout of 87% of the standard call/put options and they do offer a demo account for those who want to test drive how their platform works.
Porter Finance Trading Platform Review
The platform that Porter Finance provides is the SpotOption platform that has everything you need for placing a successful trade. You can choose from the preset amount of $4 – $2500 when placing a trade.
You can trade on options with different lengths of expiry time:
- 30 seconds
- 60 seconds
- 2 hours
- 3 hours
- 5 hours
This broker supports the regular call/put options, pairs, one touch and ladder options just like many other binary options brokers. There is an opportunity to profit up to 1,500% if you place a trade on the ladder option. Ladder options are riskier than the regular options version, so make sure you do a thorough analysis prior to trading.
On the platform, you will find the buy me out feature that is designed for traders who wish to exit the trade prior to the expiration time. This prevents you from losing the whole amount of your investment when you exit the trade early on seeing it is not profitable. Double up will increase your investment by two times the original amount and you will profit more if the price direction you predict is correct. Roll over delays the expiry and give your option more time to arrive at the price level you predicted.
Porter Finance Trading Accounts
Porter Finance provides many types of trading accounts with the deposit starting from $250 for the starter package account. Signing up for the Starter package allows you to receive a 20% bonus that they will credit into your account. Educational resources such as videos, webinar, ebook and market reviews are unlocked to members of the starter account.
Silver account is for traders who is capable of making a $5,000 investment in trading binary options. If you open a silver account, they will offer you a 30% bonus plus 1 free trade and you will get the pass to 1 free academic session.
If you are thinking of sign up for a Gold account, you must prepare at least $10,000 fund for the initial deposit. As a Gold account holder, you are entitled to a 45% bonus along with 3 risk free trades as well as training sessions. You will be assigned with a dedicated broker if you opt to sign upf for a Gold account.
Platinum account’s minimum initial deposit starts from $25,000 if you want to sign up for this package. You will receive a 60% bonus and other extras including 5 risk free trades and attend 5 training sessions as a member of the platinum account.
Diamond account is for professional traders who are ready to make a large investment of $50,000 in binary options trading. Diamond account comes with a high bonus of 80% and 10 risk free trades. The customer support will take lesser time to process your withdrawal if you have a diamond account.
Royal account is the highest account level they offer and it asks for an initial deposit of $100.000 or more. The advantage is that at least 50% of your funds in the Royal account will be covered with insurance. You will receive help a dedicated coach. In addition, they will give you a free ticket to the holiday destination of your choice. Both the diamond and royal accounts will give the traders access to a money management system that makes it easy for managing your funds. With the money management system, you will be able to allocate the right amount to each trade and avoid using up all the funds in the account quickly.
They also offer a corporate account with a higher minimum deposit requirement. If you are interested in applying for their corporate trading account, you must contact the Porter Finance’s customer support department and talk to a senior account manager about it.
If you need any assistance with your trading account, you can contact a representative of Porter Finance through phone, email and live chat during the business hours. The customer support department is opened from 6 AM to 11 PM GMT. They only offer phone support for selected locations.
Porter Finance Review – Deposits and Withdrawals
You can configure your Porter Finance trading account to display your funds in the currency of your choice including GBP, CAD, AUD, EUR and USD. The customer department will normally take around 5 days to process the withdrawal request you submitted from your account. On Porter Finance you can deposit/withdraw via credit and debit cards, bank wire, Neteller, Skrill in addition to other e-wallets. It is safe o deposit your money with Porter Finance because all the transfers you made will encrypted with the latest SSL certificate.
You can only withdraw the bonus if you achieve at least 30 times of the trading volume. You will only be able to withdraw $30 or more, if you withdraw using the method you deposited with. The minimum withdrawal for bank wire is $100 in your account balance. They let you withdraw for free for the first time the withdrawal is made but they charge you a $30 fee afterwards.
Is Porter Finance for you?
As you see in this Porter Finance review, it is a good broker, especially for US traders. It offers a large variety of expiry time for the options. They provide as many educational resources as possible for newbies so that they can make the right trading decision and increase their profits.