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PorterFinance.com (Greymountain) Review Visit site

Updated: Aug 27, 2017
SCAM
1.344 · 15 REVIEWS
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SCAM CONFIRMATION

Porter Finance is part of the Greymountain Management group of binary companies.  This group has a large number of FPA Traders Court vedicts against it.  The FPA considers all brokers which are part of this group to be scams and warns all traders to avoid depositing money with them.

SCAM CONFIRMATION

June 2016:  ASIC has issued a public warning against PorterFinance.com.  CLICK HERE to verify.

WARNING:  Porter Finance allegedly allows trading of forex over the weekend.  The FPA is unaware of any legitimate broker offering weekend trading on any forex product.

May 2016:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends CAUTION dealing with Porter Finance unless this issue is resolved.

 

PorterFinance.com (Greymountain)

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
2016-1012016-05-08mbreitfelder vs porterfinance.comguilty

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Scam!
1.344 · 15 REVIEWS
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Mike Breitfelder,
Cincinnati, OH, USA,
May 2, 2016,
Guest

Issue escalated to Traders Court mbreitfelder vs porterfinance.com | GUILTY
I have an issue, I have a brokerage account with Porter Finance and I was trading 4/30/16 and my trading winnings were $2.8 million USD. They took that money back due to a "system failure". Their vendor for their trading web site is XXXXX and they would not let any kind of "system failure" occur. I do believe that Porter Finance is lying to me in order not to pay out my winnings. There are several other traders in the USA who have had the same thing happen to them for their trades on that same day for OTC trades. One issue is that they didn't cancel all of the OTC trades for that day, they missed some on my account. I am very upset and Porter Finance has locked my account and won't let me trade. I can't get to anyone above their customer service people. I need to have my $2.8 million USD put back into my account to keep trading. I want to do good with this money and what Porter Finance has done me, as well as others here in the USA, I think, is wrong. Can you provide relief for us as we don't have any experience with England's financial trading laws and what Porter Finance has done to us.
Sadique Ahmed,
City of London, United Kingdom,
Feb 15, 2016,
Guest

I started investing with Porter Finance in January 2016 after making a deposit of $250 USD I traded the account up to $601.45 USD inc deposit , i have received my initial deposit of £250.00.

Now porter finance wont allow me to withdraw the remainder profit stating now that it can take up to 30 days for money to be received by bank transfer which is not stated on their website. It states 2 days to process and 5-7 days to show up in the account.

After sending first request over a month ago I was told that i made two withdrawal request and had to cancel and make another request which i did on the 3/Feb/2016..

I believe that i have heard all the excuses possible from them and have now resorted to contacting review sites. for help and guidance.
Cadriana,
R'dam, Netherlands,
Apr 6, 2017,
Registered user

never able to withdraw your balance or profits scammers

Since last October 2016 i try to close my account with Porter Finance not a big balance 360 euro
They told me they had technical difficulties and could not pay me back the way i deposited my account through Neteller. After sending my wire details over and over again and proof of address and ID .
nothing was wired . Even wrote them a email telling them i will report them to cyber crime etc didn't help .
I called over and over lots of times but when the conversation is getting difficult they hang up the phone one of them even called me a looser.
Of course in the process of waiting i didn't t trade that account , in that period they took 50,00 from that account for not trading it (dormant account). After complaining about that they told me it was my own fault and they will do that every month as long as i don t trade my account till there is nothing left. These ppl are really unbelievable, Pleasel stay away from this broker its been 5 months now i doubt if i will ever see my money by writing this i hope i can at least prevent ppl from getting trapped by their scams
caisfly,
Lisbon, Portugal,
Mar 21, 2017,
Registered user

Dishonest

Terrible!Dishonest!
Almos a month that I made a withdrawal request and nothing!
Nobody tells me anything and dont respond to my emails.
JimT1,
USA,
Sep 11, 2016,
Registered user

If you want to make money, this is not the broker to use.

Porterfinance.com
Warning!!!!! If you are doing business with Porter Finance or thinking of doing business with Porter Finance, DON’T. I DID and now have to pay the price!!!! This is a very sophisticated SCAM.
This is a very slick organization that is a part of a much larger group of companies based in Isreal. If you want to address a problem of any significance, you will be shuffled to someone that will begin the process of the SCAM.
I had traded with them for four months with satisfactory results. They will ask for additional funds each time you talk to them impressing you with the fact that moving to another level will give you more attention and higher returns. You get attention until you finally tell them there will be no more investment to your “balance”. The pressure begins early on in the relationship. When you try to get a response their response is “your account manager will get back to you, guess what, no return call or email. Eventually when you do get through you will be given the name of a new account manager. This person or the old account manager don’t communicate with you for 3 to 4 weeks, and then the new account manager makes a call to you to do trading. The trading is mediocre, but the demand for more investment starts up again. I again told him I wouldn’t make any more investments and he got angry. At this point I tried to make contact with him and was told he was out of the country.
When I started trading with the first account manager, there was an understanding that there would be no trades over $1000. An automated message would come on while you were trading with your account manager saying you were limited to no trades over $1000. I then traded doing $1000 trades for the rest of the time the first account manager was working with me, it was understood that per company regulations this was what we would be doing. We were trading 60 second or 30 second trades. When communication stopped with him, in comes account manager number2 “the closer”. When we started the second session together he still sounded angry, but I thought we would work through it and then “the closer” put the last piece of the scam into play.
Through aggressive and threatening talk he convinced me to immediately change the type of trading we were doing to (touch up) which I had never done and to increase my trades to $10,000 each. I told him no and he responded just do what I tell you. He badgered me into 10 trades which was within pennies of cleaning my account out. I told him at least 6 or 7 times to stop, again he aggressively pressured me to do what I was told.
These were obviously trades that were built to fail. His time would no longer be wasted since the company now had the money that had been invested as well as the fake profits that had been earned by my trading.
These people are sophisticated, smart, SCAMERS.
Before the SCAM finalized I was told that the account managers did not make much on trading, but made most of their income by increasing investment income.
This is just a glimpse of what goes on at PORTER FINANCE!!!!!
James,
Nj, USA,
Apr 19, 2016,
Guest

So I requested a withdrawl of my 6k and have been getting the run around for about 3 weeks now I keep getting told multiple reasons mainly Tech problems on there end and still haven't received my funds I was told it was approved and sent to my bank which it was not now I'm getting no response about the issue please help!
James
Robert,
Virginia, USA,
Aug 5, 2016,
Guest

I've been using Porter for about 3 months. My experience was initially good -- the platform worked good and I was able to amass some profits. I even withdrew my initial investment back to my credit card without trouble, then things went terrible. I started seeing very weird execution times and prices on my trades (details and screenshots posted in forum) -- when I realized they were manipulating my trades, I decided to withdraw some profits. I made my initial wire transfer request on 07-15-16 and am STILL trading emails with them to give them more and more details, some of which don't even apply to transfers into the US (for example, they want the SWIFT code of my domestic/beneficiary bank!! -- nonsense!). I have opened an FPA court case against them to try to get some help getting my money out of them.

DO NOT USE PORTER! Scam. They manipulate your trades when your account is UP and they make up excuses to not send your withdraws!
Oluebube Chukwu,
Nigeria, Nigeria,
Jun 6, 2016,
Guest

I deposited into Porter Finance since February this year. They claimed they did not receive my fund that I should contact my card company. I contacted my bank and they asked me to complete a chargeback form with which they would contact Visacard. After two 3 weeks, Porter Finance declined the chargeback claiming I did not send my documents and that I did not contact them before the chargeback. After explaining to them that the chargeback was not my idea and that I did not get their follow up mails. They claimed to have sent the fund back to my bank and that it would take up to 90days.

This has taken more than that since 10th February yet I have not gotten the fund. My bank said they did not send it as they have declined the chargeback.

Kindly help me get the fund back.
Barnaby,
Hawaii, USA,
Mar 4, 2016,
Guest

So- I'd been ripped off before, at 24Option, back when they were accepting US clients. I lost a thousand dollars, poof, just like that. I called, asking what happened to the money. My "account manager" some guy from New Jersey, told me a guy I had hired to trade my account on commission had martingaled the account. And poof. Money was gone. Eight years later, due to memory loss, I decided to try again. Binary options? Great returns! Make 100$ an hour! Totally safe. Plus, there was this guy, Matt Van Ry, supposedly living in Cancun Mexico and running a dive shop who said he could make money with a "small" deposit with Porter Finance. They looked legit. Demanding documentation forms, a picture of your driver's license, letter of verification from a utility to confirm residency, etc. They had to be within the law. So I deposited. At first, Matt was great. No, incredible. After a deposit of 500$, the account quickly went to a thousand, then two thousand. Then almost three thousand. Holy mules! This is the way to make money!! The proverbial money tree!! On the third week, waiting for Matt to bill me for account performance, I waited. Wait a minute. How come he hasn't sent me a bill? What's happening with the account? I checked. 22.38? There was 2690.00 yesterday. I opened a "support ticket" with Porter Finance. Where's my money? "Your support ticket has been resolved. Your account has been authenticated. Where's my money. Your support ticket has been resolved, your account has been authenticated. Where's my money? Your support ticket has been resolved, your account has been authenticated. The insanely beautiful thing about Porter Finance is that, because of their demand for account authentification, they retain access to important documents that control your online identity. So, try to go after them? Well, we have: your drivers license, your debit card info, your physical address, everything they need to subvert your identity. As for Matt Van Ry, if that is his real name, I never heard from him again. I have no idea what happened to the money I deposited with Porter Finance. My final takeaway from this is that Porter Finance may well be a criminal organization, masquerading as a store front, with no regulation exerted from any controlling authority. Of course, this is all from the point of view of an American customer. But this is exactly what happened.
metacafe321,
Mumbai, India,
Jan 31, 2017,
Registered user

Got SCAMMED by PorterFiance (They are not giving me my money back)

I opened account with porterfinance 4 months ago and deposited $200 in it
and after sometime I decided to withdraw amount and requested withdrawal
of $150 but it has been more then 40 days since I made request

my withdrawal is still showing processing
Whenever I mail them they make some excuses like it is holiday season etc etc.

So please keepo away from it as it is big scam. you will not get your money back.

They are big SCAM