Porter Finance has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Addresses: 20-22 Wenlock Road England N1 7GU This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: porterfinance.com.
I had high hopes for Porter Finance through a forum discussion, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Smooth onboarding|Intuitive for beginners
Cons: None so far
I had a dispute with Porter Finance and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: High security standards|Multiple order types
Cons: Onboarding videos are outdated
I opened an account with Porter Finance since I retired last year ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Social trading features|High security standards
Cons: No integrated tax optimization
Porter Finance changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Demo account available|Multi-currency support
Cons: Account statements could be more detailed
I signed up with Porter Finance after reading several online reviews and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Real-time alerts|Dividend tracking|Multi-device support|Demo account available
Cons: Slow to add new assets