The most important aspect of any binary options broker is security. The broker handles your money, so of course you need to be absolutely sure that nothing will happen to them. In our article on Porter Finance Security we tell you whether your money is safe.
Is the Porter Finance security optimal?
When it comes to choosing a binary options broker, security is at the top of the list of criteria for most traders. For new traders, it is not always easy to evaluate whether a broker employs the right kind of security measures or not. We tell you what you have to look for and whether you can trust Porter Finance.
The first thing you have to look for when choosing a binary options broker is how the broker encodes its communication with your device. Since you will be sending login data, personal information, and other sensitive data over the internet, the worst thing that could happen to you is that someone intercepts this data and uses it for illegal purposes. With an unsafe broker, someone could withdraw all your money from your account.
As a trustworthy binary options broker, Porter Finance does everything to keep your money safe. To encode your communication with Porter Finance, Porter Finance uses the SSL standard, the safest thing the web has to offer. Even the biggest banks use the same standard for their online banking. With SSL, it is virtually impossible that someone intercepts your data and uses it for their purpose.
The second important factor when it comes to security is how a broker handles withdrawals. Let us imagine, for example, that you write your login information on a paper and that someone else finds this paper. In this scenario, or in any similar scenario where someone learns your login information, a broker has to make sure that, even with your login information, nobody can steal money from your account.
To avoid such a disaster, Porter Finance uses a validation process for every new withdrawal that is used with your account. Every user that wants to use a new withdrawal method has to provide a number of documents that clearly identify him, thereby making sure that only you can withdraw money from your account. Those documents are:
- A picture of a government issued ID, front and back, with a clearly visible picture.
- A proof of residence, such as a utility bill.
- If the withdrawal is by credit card, a picture of the credit card.
Since only you possess all of these documents, only you can verify a new withdrawal method. This makes sure that nobody steals your money. If you have used a withdrawal method before, you do not need to verify it again. You already have proven that the money will end up in your hands.
Combining all these Porter Finance security measures, provides a secure trading experience that will take good care of your money.