Porter Finance is a binary options broker founded in 2014. In the world of binary options, where many brokers have popped up recently, Porter Finance has stood out among the crowd because of their high rates of return and wide range of trading products. They are located in London, England, and in their short existence, they have earned a great reputation. Here, we will take a brief look at what they have to offer and see who they are going to be the most beneficial to.
Trading with Porter
This broker has a large number of assets available for trading. Over the course of the typical trading day, they have almost 200 assets available with a heavy focus placed upon currency pairs. In addition to Forex traded pairs, they also include over the counter prices. When it comes to types of trades, they have the typical call and put options, but they also have one touch and range trades. You can trade stocks, indices, currency pairs, and commodities here. Timeframes range from 30 seconds before expiry to up to six months in the future.
For serious traders, you will want to have a way to view your trading history so that you can track everything for your personal records and adjust strategies as needed. This is easy to do once your account has been funded and you have started trading.
Creating an Account and Banking
Creating an account at Porter Finance is very easy. You need to give your name, email address, country of residence, phone number, and select your trading currency. Once your account is registered, it’s time to invest. You can use a credit card (Master Card or Visa), a bank wire, or an online wallet, like NeTeller. If you fund your account with $500, you will earn a 25 percent bonus. This is a Basic Account. Other tiers of accounts exist, ranging from Silver, with a $2,500 minimum deposit and a 60 percent bonus, up to the Gold account. The Gold Account is geared toward advanced traders and requires a deposit of at least $5,000. The bonus for this is 85 percent. In order to withdraw bonus cash, you must trade above the unlock threshold. This begins at 30 times the bonus amount, so if you have $100 in bonus cash, you would need to make $3,000 worth of trades to get this cash.
Porter Finance has a lot to offer. They have a very strong customer service department that can be contacted with any questions you might have. You can speak about setting up an account, figuring out how to get the best bonuses, or get basic advice on how to execute trades and use their platform. They can be contacted by phone from anywhere in the world, by email, or by online chat, whichever is easiest for you.
This site also has an extensive education section for those that are still learning the basics of binary options trading or want to catch up on relevant news without going to a different site.
So who is Porter Finance best for? They have a solid product, and they make it very user friendly and accessible. The small deposit sizes, starting at $250 (which still receives a bonus), make it clear that this site wants smaller sized accounts using their product. With the high rates of return on the most heavily used trades, even a $250 deposit has a decent chance of turning into something much bigger. You certainly don’t need to be a small trader to benefit from this site, but it looks like this is their target audience. Because of their huge list of currency pairs, including the rarely seen OTC market prices, former Forex traders will also do really well here.