BormanCorp is an unlicensed Crypto Forex CFD broker, which opened in July 2018.
BormanCorp is actually owned by: Board LTD, and located at: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960 Marshall Islands. Their phone number from the United Kingdom is: +442036080432. Customer support email address is: email@example.com, and the official website is: https://www.bormancorp.com.
For withdrawal problem and complaints, read this.
BormanCorp gives their clients and investors a web based trading platform made by TraderSoft. Their software has CFD’s, Crypto Currencies, and Simplified Forex trading, available on hundreds of underlying assets in the markets of Forex, Stocks, Commodities and Market Indices.
As with many CFD brokers, the difference is the level of leverage offered on the various underlying assets. Bitcoin CFD trading is available for example, at a 1:5 leverage with spreads of $130.
Minimum deposit for a new trading account type is $250. This broker does not offer the popular MetaTrader5 desktop software or mobile apps. You can only use their web based trading software. Their website is available in English and Russian.
Most investors start with a Free Demo Account, see here.
When the Scam Broker Investigator reviews a new Crypto / Forex broker, the best way to know if they are a legitimate broker is by checking for a license. All brokers must be licensed and regulated by a government authority in your country. For example; ASIC Australia, FCA United Kingdom or CySEC Europe.
BormanCorp is not regulated and not licensed. Also mentioned on their website is that they are owned by: Starrin Corporation Zrt, located at: 1089, Budapest, Orczy tér 4 A.ép.2. Iház.1 emelet 20.
Smart traders always verify that the broker they are going to invest with, is also licensed in their local country. You can find a list of all the popular Forex brokers here.
BormanCorp is NOT Licensed by ASIC
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What was your trading experience with BormanCorp like? Please leave your review in the comments below.