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.
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.