• Personal account manager and free signals provided at higher account levels;
  • Welcome bonuses and Risk-Free trades vary by account, (standard “30X” trading volume commitments necessary before withdrawals can occur);
  • PandaTS trading platform – totally web-based with mobile apps, too;
Broker Info
Company Name:

Porter Finance

Website: PorterFinance.com
Country: UK
Year established: 2014
Broker Services: Binary Options
Assets offered: nearly 70
Min deposit: $200
Payout: up to 81%
Funding methods:

banking wire transfers, major credit or debit cards, Neteller, or other local payment services

Platform Info
Trading platform: PandaTS
Mobile trading: Yes
Web based: Yes

Porter Finance Review

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History and Background

The binary options industry has been for years in hyper-growth mode, the fastest growing sector of retail forex trading, but it has not been until the last one or two years that competition has been working on behalf of the trading community. Payoff ratios have improved dramatically, as traditional forex brokers joined the action and new brokers introduced the best of all worlds. Porter Finance falls into this latter group, hitting the ground running in 2014 with the best technology, product pricing, training and support materials, and responsive customer service. The firm also had the presence of mind to set up shop in London, the forex capital of the world and the home of the FCA. As of this writing, binary options in the UK fall under the local gambling commission, but new regulations are coming to ensure FCA oversight in the foreseeable future.

Until that day comes, Porter Finance is already prepared for strict compliance regimens. The firm has already displayed best practices in transparency, disclosures, and customer service. While most other binary option brokers have a complaint or two on some Internet blog, you will have a difficult time finding any complaints about the service of this broker. They are serious about what they do, and the fact that their initial account tier starts with a $1,000 investment may have something to do with the type of customer that they attract. There are seven account classifications, including a “Corporate” level account for institutional players, each with escalating bonus benefits and specialized support. Option types vary from classic High/Low, Hyper, Long-Term, down to One-Touch options, with a rich asset list of currency pairs, commodities, stocks, and indices. We noted a 5% rebate and 81% payoff for the options displayed at the time of this review, a set up that is as good or better than the odds for successful traditional forex trading.

The technology aspects of Porter Finance are also top of the line. They have chosen the Panda Trading System to showcase their product line. PandaTS has been producing trading software solutions since 2007 in this sector and is known for its innovative and intuitive style and format features. This trading set up also incorporates the Porter Finance solution for social trading. One click on the “Follow” tab will alert you to a host of successful traders in the system. Pick one, and the system will automatically emulate their trades with your portfolio, according to your individual specifications regarding amounts and period. Roll-Over, Double-Up, and Sell-Early features may also be deployed, when you see fit, and, if you need a brush up on trading strategies, the firm’s learning center is jam packed with informative ebooks, videos, and webinars. Oracle Stone Ltd, a UK registered company, owns Porter Finance. Unfortunately, U.S. citizens are presently “restricted by CFTC regulations.”

Features

The distinguishing features listed by Porter Finance on their website are as follows:

  • Founded in 2014 by industry professionals;
  • Headquarters and operations in London;
  • Classic High/Low, Hyper, Long-Term, and One-Touch options;
  • Payoffs run up to 81%, with 5% rebate (unique 1500% options, too);
  • Asset choices include Currency Pairs (33), Commodities (4), Indices (8), and Stocks (23);
  • Personal account manager and free signals provided at higher account levels;
  • Welcome bonuses and Risk-Free trades vary by account, (standard “30X” trading volume commitments necessary before withdrawals can occur);
  • PandaTS trading platform – totally web-based with mobile apps, too;
  • “Roll Over”, “Double Up” and “Sell Early” features;
  • Social trading via proprietary “Follow” feature;
  • Education Center includes e-books, videos, in-depth courses on advanced topics, and numerous webinars;
  • Daily market commentary and analysis for all account levels;
  • Customer support via live chat, email and phone during 06:00 GMT to 23:00 GMT office hours.

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Accounts

  • Minimum deposit = 200 USD, GBP, EUR or 250 of AUD or CAD;
  • Seven account categories with escalating bonuses and benefits: Starter – From $1,000 to $4,999; Silver -- From $5,000 up to $9,999; Gold – From $10,000 up to $24,999; Platinum – From $25,000 up to $49,999; Diamond – From $50,000 up to $99,999; Royal – From $100,000 and up; and Corporate – Call for details;
  • U.S. customers restricted at this time by CFTC regulations;

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Transactions

  • Account can be maintained in one of five currencies – USD, EUR, GBP, AUD, and CAD.
  • Deposits methods include banking wire transfers, major credit or debit cards, Neteller, or other local payment services (contact Customer Service for details);
  • KYC/AML ID documentation required for immediate processing of withdrawal requests;
  • First withdrawal for each month is free.

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Platform

Porter Finance adopted the PandaTS trading system as the backbone of its product and service offering. It is a direct competitor of SpotOption and regarded by many industry professionals as more efficient. It can enable social trading and its operating protocols are user-friendly and straightforward. Screen formats display all the necessary details for effective trading, with easy access of Roll-Over, Double-Up, and Sell-Early features, as well. All system software is web-based, and mobile trading is also supported.

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Information

Porter Finance has made a concerted effort to provide the knowledge necessary for success. It is up to you and your account manager to take advantage of these support tools. The firm’s Education Center is comprised of e-books, videos, in-depth courses on advanced topics, and numerous webinars, designed for all levels of trader.

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Support

Higher account levels receive a dedicated account manager. Customer Service representatives may be accessed via live chat, email, or through seven direct telephone lines, established in local areas across the globe for your convenience.

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Safety

The latest in 128-bit SSL encryption technology techniques are utilized for security and privacy purposes. At present, the Gambling Commission in the UK does not actively regulate binary option brokers, but the expectation is that the FCA will soon have this responsibility shifted to them. At present, Porter Finance adheres to best practices in anticipation of this forthcoming change in regulatory oversight responsibilities.

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Conclusion

Porter Finance is one of the newer binary options brokers to join the fray, entering the field in 2014. It has focused on what works best in this exciting trading arena for both serious traders and beginners alike. Payoff ratios are top notch. Support materials are comprehensive, and customer service is top of the line. As a further touch of brilliance, the firm set up shop in London, ahead of the likely wave of newcomers that will arrive after the FCA takes over regulatory oversight responsibilities. As a side note, Cyprus-based binary option brokers may have to re-register, as well, following the changes brought on by the Brexit vote for the UK to leave the EU. Porter Finance is already well positioned for whatever outcome eventually takes place, and you may be, too, if you choose to give them your patronage.

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