Binary options are the latest in the series of financial trading products. So much is the trend in investing in Binary Options catching up that they are now one of the fastest growing financial trading instruments. Owing to the easiness with which one can trade with them and the fixed return on every trade which is made, makes them an attractive trading tool for many financial investors.
The expected return whether positive or negative is certain and known before the investment is made.Binary options are available for a string of commodities,currencies, indices and stocks. A good broker is the foremost necessity to have for any trader. Today, we analyse the credentials of Porter Finance Broker.
Update – Porter Finance is now out of business. They have closed their doors for all future traders in 2018 now.
Porter Finance offers simple, secure and rewarding binary options trading. In a trading universe which was till sometime ago thought to have been taken over by fraud brokers and corporate , Porter Finance is surely a bright spot. Based out in London and started its operations in 2014, Porter Finance has managed to earn a very good reputation in a short span of time. Trader reviews and feedback stating their satisfaction validate that its a good broker to choose.
The Trading Platform provided by the website is clean and intuitive. Transparency is ensured with every variable parameter clearly displayed. A well set-up website and a wide variety of offered options to trade with make it a complete experience of sorts. A round the clock support service available on varied media like Skype, Live chats, mobile phone etc. to bail out the traders quickly should they face any issues.
Binary options are a new and exciting way to trade financial markets which differ from traditional financial options. Traditional financial instruments have very long expiry periods, binary options can offer expiry times ranging from as low as 60 seconds until the end of the day’s trading.
Porter Finance Features
The minimum deposit for new accounts at Porter is $200. Deposits can be made through credit or debit cards,bank wire transfer or Neteller. A $30 fees is levied for wire transfers. First withdrawal is free and subsequent withdrawals again attract $30 fee. There are 7 types of accounts that can be opened with them. Each one has a starting investment which varies in ascending order of the features packaged with the account. This broker is managed by Porter Group.
One important point to note here is that Porter Finance is NOT Regulated. This does not mean that you stop reading this review and look for another broker straight away. This broker is still at par with the regulated ones. They display strong compliance to regulatory laws. US citizens are barred from trading in currencies and commodities owing to directions from CFTC. Moreover, they are around for a couple of years now. Any unscrupulous or fraudulent broker would have been long exposed by now.
Now, for the type of options offered. One can trade with High/Low options which includes various lock-in periods. You can also opt for One Touch trading, Pairs trading or Ladder trading. One Touch options immediately and automatically expire ITM if the market price reaches the option’s target price at any time before expiration. Pairs Trading is done on any or all of these currency pairs- Bitcoin/USD, EUR/GBP,EUR/JPY,USD/JPY, USD/RUB, USD/SGD, USD/TRY,EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF or USD/ZAR. Ladder trading is a relatively novel option and can deliver high profits. There is something for every taste and liking!
The withdrawal process is relatively the most important and controversial topics regarding any broker. The Porter Finance provides seamless withdrawals with an SLA of 2 days. Withdrawals and deposits both take place securely and safely.
What about some negative reviews ?
As with any business especially online businesses, the Porter Finance website also sees some negative reviews from irate customers. In high risk environments where a customer’s money is at stake, tempers are bound to be edgy. However,a close look through the review section on the website shows that the percentage of such feedback is only a fraction of the positive ones. The complaints too are not very grave in nature. Sometimes it so happens that traders interpret some losses as have been caused by the PF deliberately.
Porter Finance have a dedicated team of customer support executives which operates 24*7 and are very prompt and willing to resolve customer complaints. They respond quickly to problems and concerns and they can even be reached by phone from such countries as Canada, Australia,New Zealand and South Africa. A real person is always better to have than a monotone computer voice and provide rich interaction and effective problem rectification.
Warning – Recently a new scam for Australian traders is very viral now a days. Sofy Raymond from binarysignalsadvise.com recently exposed this scam on her blog. I hope it will be helpful to you.
Trader Education Initiative
It has become very necessary to educate the traders which subscribe to a broker for trading. It has two benefits- one, the traders know the intricacies of trading and are well informed and less prone to fraud. Secondly, It renews trust and results in lesser false alarms being raised. The FAQs have an assorted collection of questions which a naive trader or a new customer of PF may have and want answered.
All the complaints and concerns that their customer service team in person and no automatic recorded voices are sounded.Porter Finance doesn’t only want to be known for providing top class trading services but also as a site that only has good ethics and compliance. A great initiative to inject trust into new traders is the availability of a free demo account. Before actually placing any real money it gives a good feel of how things work on the Porter Finance platform. The site also reviews different assets and their Financial News and stock price live feeds. All this provides a good up-to-date feeling and helps in educating the traders.
In a place so brimming with fraud brokers and scam software, Porter Finance does prove to be a good source of hope. The congratulatory part is they have managed to reinforce trust even after so much written over the internet against non-regulated brokers. We bring out regular reviews on brokers and auto binary options trading software and here today we endorse Porter Finance as a potential candidate to serve you as a Broker.