It is great that over the years, brokers have become more trustworthy. Today, there are things like regulatory agencies, and many of the trading practices are uniform across the various brokerage sites. And as many others, Porter Finance is a binary options broker that certainly would like to keep its reputation clean and prove all the Porter Finance scam rumors false.
Porter Finance is a broker that is fairly new. It was back in 2014 that people were first allowed to trade on the site, but Porter Finance has grown quickly since and made great strides to establish itself as a dependable binary options broker. Traders from around the planet say they are very happy with their features and their investor services. It is a highly organized and well-structured website that provides its traders with a fair opportunity to make a profit, and they do it in a way that is highly transparent; that is completely the opposite of a website that is attempting to scam someone.
So are the Porter Finance complaints true?
How can a site prove to its customers that it provides a legitimate trading platform? Giving a 24/7 customer service to aid their traders quickly and effectively is one way. Customer service that can be contacted by phone, Skype, and internet chat will help to quickly resolve a problem. In addition, they offer many ways for their traders to do banking on their website. Traders can make deposits/withdrawals using methods such as Visa, MasterCard, Cartebleau, bank wire transfer, Visa Electron, and Skrill.
From the start, traders from around the world (Turkey is prohibited from trading though) have been enjoying the benefits of trading on Porter Finance, and it has attracted a diversity of traders from all the financial markets. If the Porter Finance scam rumors were true, then they wouldn’t have grown their customer base the way that they have. With their superior customer service that is highly responsive and their transparent banking practices, traders are aware that the company is not trying to scam them.
At all times, deposits and withdrawals on Porter Finance are only done with the customer’s approval, and they are carried out in a secure fashion that requires you to provide plenty of user information that is verified throughout the process. Websites that try to scam people will have covert banking transaction policies with high fees for those services. Scam sites will rip their customers off by eating away at the funds that are in their trader’s account and also by not providing a fair chance to win when they invest.
How to identify a scam
Every trader should check to see if a broker has a regulatory license before you sign up with them, or you can do a thorough internet search to find reviews before you sign up to trade on a brokerage website. Regulatory agencies keep a watchful eye on individual brokerage websites and also revoke their certification if a broker under their jurisdiction has been found to be using practices that are considered scams.
Organizations like FSPR in New Zealand, FCA in England, CySEC in Cyprus, and MIFID in the European Union have been earning a reputation to ensure the websites that fall under them are transparent and fair in their trading and operations. These regulatory agencies usually have online brokers under them who focus their business in certain areas of the world, whereas other websites can trade anywhere around the globe.
So you can see why joining a website that is regulated by an agency is highly recommended if you are looking to trade binary options online. This will make certain any trader will have a fair chance of winning from their investments because the websites they are trading with conform to a strict set of compliance regulations. Choosing a binary options trading provider that is unregulated could be a big mistake unless all of their reviews are positive.
Are there many Porter Finance complaints?
There isn’t a business on the planet that doesn’t get complaints every now and then, particularly when it comes to a situation where a person has put their money at risk while trading on the financial markets. However, if you search the internet, you will find very few Porter Finance complaints, and those that you do find are minor. When you have a responsible, well-trained customer service team available 24/7, it will go a long way towards building a solid reputation. This broker quickly responds to problems and concerns, and you can even reach them by phone from countries like Canada, UK, South Africa, and New Zealand.
The website also has an excellent FAQ section. With measures that have been put in place by Porter Finance to handle many of the possible topics, they are able to thoroughly answer your questions in a way that will stop most complaints from ever occurring in the first place. Any concerns or complaints that the customer service team receives are handled by phone, internet chat, or Skype, in real time by real people. You will not receive a prerecorded message or extended wait times that can be extremely frustrating.
How does the Porter Finance’s demo account work?
Porter Finance wants to be known as a website that has great customer service, and they also have a reputation for trader education. Their free demo account clearly demonstrates this. This tool will help those trading on the site learn the Porter Finance platform before actually starting to place trades for money. This is especially beneficial to novice traders.
The demo account closely mimics the actual trading platform except it uses dummy money rather than real money. Those that use it can get a real feel for how the actual trading on the website works without the risk of using any of your own money. Once the investor becomes comfortable trading in the demo account and is consistently making winning trades, they are then ready to start trading with real money and have confidence doing so. It helps any investor learn how to abolish normal trading mistakes without having to take a financial loss.
The learning tools don’t just begin with the demo account. Porter Finance has a great mix of learning tools for you to choose from to improve your binary options trading skills. There are a number of different reference materials on various aspects of binary options trading that you can read, and there’s also the helpful eBook that Porter Finance supplies to everyone who signs up and trades with them. The eBook has tons of useful A to Z information on binary options trading, and it’s very helpful for novice or veteran traders.
Another evidence that Porter Finance scam rumors are false is that their website has several financial reviews on various assets that are available to their traders, and this type of detailed information is what often will make the difference between you placing a winning trade and a losing trade. They also offer up-to-date financial news, and they update their investors on current market trends. All of this aids in educating their traders in a way that not many websites do. Porter Finance customers have a good direction on how the financial markets are acting currently. This goes a long way towards the elimination of big losses, and it helps those trading on the website experience winning decisions that are more consistent.
Is Porter Finance regulated?
Porter Finance has been helping traders online since 2014. They have chosen not to be a regulated website because they wanted to be available to traders all over the world. That provides Porter Finance and those that trade on their site some big advantages that regulated websites do not have. It also provides them entry into the US binary options market. Only Turkey residents are not allowed to trade with this binary options broker.
Regulated websites have limits on the assets and on the types of binary options that can be traded on. Porter Finance likes it when their customers have more choices because it makes binary options trading interesting and fun, and of course, the more choices a trader has, the more likely they are to find a type of asset or binary option that they can consistently make winning trades with. Regulations take some of the fun out of binary options trading, and it can reduce profits too.
Regulatory agencies are inclined to put too many restrictions on the websites that are under their regulatory body, and it can make the trading platform sterile. That is the key reason why Porter Finance decided not to regulate. People shouldn’t be scared to trade with brokers like Porter Finance that are reputable and fair, with awesome reviews.
Porter Finance scam rumors are false
We have talked about many things offered by Porter Finance that many of the most reputable binary trading websites don’t even have. It is evidence of the commitment of those that have designed and those that run the Porter Finance online brokerage website. They have built a reputable binary options trading website while leaving the trading fun and exciting.
All this discussion about how the regulatory agencies are stifling is in no way meant to discredit as these regulations were badly needed at the time they came into the binary options industry, and they went far to aid binary options trading become recognized as trustworthy and respectable. It is just that in the process, they took something away from trading. Many people started trading binary options because they were so different and far more enjoyable than other market trading forms.
Regarding the Porter Finance complaints, the broker understands they might have to work a little harder than regulated websites to earn the trust of investors, but just as they have never been scared to do things differently, they will always ensure they are doing things in a manner that’s fair, safe, and trustworthy.
Still have questions? Feel free to check out our ultimate guide on how to trade forex to learn the different ways to utilize trading strategies, avoid amateur mistakes, and maximize your income.