In the world of investment and trading, risks are unavoidable. A cautious trader would clearly review the broker before committing to any financial activity. Hence, regulated brokers are often the choice trading option for most investors and traders. However, Porter Finance is increasingly becoming a favorite for binary trading, despite the absence of any official regulation.
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Porter Finance is a London-based binary trading platform that came into much prominence in 2014. Initially a SpotOption broker, the company later switched to the PandaTS platform to enhance the trading experience of their users. The company has since been increasingly known for putting their customers first, a feat most regulated brokers fail to achieve. What attract customers to this platform are the low limits for minimum investments ($200) and the various bonuses offered at any level. The company also has around 200 listed assets in commodities, currencies, stocks and indices. Anything from cards and e-transfers to wire transfers can be used on the platform; in the case of large amounts, however, only wire transfers are permitted. The user-friendly terms of the firm has garnered enough trust to propel Porter Finance to the top of the list of popular binary trading brokers. Let us understand the Porter Finance regulations for trading, as spelt out in their Terms and Conditions here.
Regulations are often synonymous with restrictions, and more so in the financial world due to the massive risks involved. They are an important criteria for traders; the official license offers a certain amount of reliability and guarantee. Moreover, most traders look for a license to avoid scams. Nonetheless, in an attempt to control their operations, regulatory bodies restrict brokers from operating in certain regions. If you are a US resident, for instance, chances are that you’ve encountered restrictions on almost every other broker platform you’ve tried. But not Porter Finance. Why?
Porter Finance is simply not regulated. The lack of any governing body restricting their services allows Porter Finance to offer their services universally, unless laws of individual countries limit client activities. Does this mean they are running a scam? The company has strict terms of services and a quick and effective customer care division that will convince you otherwise. They even offer extensive training and demo accounts for beginners. You won’t find scams wasting their time and resources on overly caring about their customers. So, we can conclude that the firm is indeed legit.
Despite the lack of an official regulatory seal, the rules are ideally crafted to neither overly deny nor completely allow anyone and everyone to use their platform. Porter Finance showcases a thorough understanding of trading regulations and laws that lets them offer a superior trading experience when compared to their competitors. This is highlighted by their acceptance of US- based clients, who are normally rejected by regulated brokers, citing the CFTC laws of their country. The US CFTC laws limit US citizens from trading in commodities and currencies alone. The option to trade in stocks and indices is however open which is recognized by Porter Finance. In short, the firm does know their stuff.