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Bormancorp Review

  1. Bormcorp is a non-regulated forex and CFD broker from the Marshall Islands. They offer over 1,000 trading assets from all major markets like forex, cryptocurrencies, stocks, commodities and market indices.

    Bormancorp claims that by trading with them, investors can earn up to $200,000 a year. This in itself is a huge red flag, so our team decided to look into who Bormancorp really is and how they operate. When noticing a broker that appears to be a scam, our experts like to look into the matter even further and tell our readers what we discovered. Read our full review and verdict below.

  2. Right off the bat, we noticed Bormancorp does not offer any account types – but one single account for all users. This is problematic in itself because users have different experiences when it comes to trading and are at different levels. Some traders may be completely new, so it is definitely essential a broker offer a variety of account types so that traders can choose and trade depending on their level. Trading can appear pretty overwhelming to a complete newbie, when in reality it can be very simple.

    The best brokers also offer demo accounts, so their users can practice risk-free before investing real money. Bormancorp does not offer any demo account. Users are instead required to make a $250 deposit immediately in order to begin trading.

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    Between 74-89 % of retail investor accounts lose money when trading CFDs
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  5. Bormancorp Scam

    Bormancorp offers investors two different trading platforms, the web-based Tradersoft and their mobile app. Users can therefore choose whether they prefer a platform that only requires an internet connection and no downloads, or on-the-go trading with their mobile app where they have full market access wherever they go.

    No matter the platform type, all users have access to over 1,000 tradeable assets including forex, cryptocurrencies, indices, stocks and commodities. The leverage varies depending on the underlying assets. Bitcoin CFD trading, for example, is available at a 1:5 leverage and offers spreads of $130.

    When reviewing Bormancorp, we also noticed they advertised comprehensive educational material. It appears that, in reality, they only offer an asset index and an extensive trading glossary. This is not exactly what would be considered educational material for it is very limited. The best brokers tend to offer users webinars, VOD and eBooks all for free so they can properly educate traders before they begin investing their money. Trading is an investment and one must be well-aware of what they are getting into.

    Get-Rich-Quick Scam

    One of the biggest red flags when it comes to Bormancorp is their claim that investors will be making $200,000 a year if they decide to trade with them. If one is unaware of this classic scam-tactic, they will immediately think that a $250 initial investment is absolutely nothing compared to the money that will be “pouring into their bank accounts”.

    Investors should never trust brokers who claim to make them large amounts of money. Trading always entails risk and in reality, no promises of profit can be made. Instead, results depend on market fluctuations and currency trends, as well as individual software settings and trading skills. If a broker is head-on stating “you will be rich” the minute you visit their website, stay away.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  7. Bormancorp Withdrawals

    If customers have any questions or issues, they can reach Bormancorp through email, phone or by filling in the online form on their website. They also claim to have a live chat available which was nowhere to be found.

    Their website is available in English and in Russian.

    Bormancorp in owned and operated by Board LTD, which is located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960 Marshall Islands.

    They accept various payment methods, including Credit/Debit card, Neteller, Giropay, Sofort Banking, Paysafecard or bank wire transfer.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  9. Is Bormancorp Legit?

    Upon carefully reviewing this broker, our team has concluded this is definitely a scam and users should stay away. We wanted to check is Baormancorp legit and we found out that Bormancorp is an unlicensed broker with limited resources that claims to make everyone magically rich. Traders should always do the research before investing money with any broker and always make sure to choose regulated, trusted companies that do not use get-rich-quick tactics to trick traders into investing any money. 

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option



    Between 74-89 % of retail investor accounts lose money when trading CFDs
  11. Your capital is at risk