Boston Merchant Financial Review 2020

Boston Merchant Financial Rated 3/5
learn more Learn more about eToro. 75% of retail investor accounts lose money when trading CFDs with this provider.
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Boston Merchant Financial Guide

Boston Merchant Financial are an online broker founded in 1988 offering Forex trading.

Boston Merchant Financial are a global broker and have a head office in Dubai.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Boston Merchant Financial we break down the pros and cons. What Boston Merchant Financial are able to offer, what countries Boston Merchant Financial are available in. Who Boston Merchant Financial are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with Boston Merchant Financial

Open Boston Merchant Financial's Website

Losses can exceed deposits

At the bottom of this review you can also learn about some pretty good alternatives to Boston Merchant Financial

With this review we hope to help you see if Boston Merchant Financial is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Boston Merchant Financial that will help you get off to a good start in the world of online trading.

Boston Merchant Financial Review Table of Contents

Boston Merchant Financial what you should know

Boston Merchant Financial offer one way to trade: Forex.

With Boston Merchant Financial you will need a minimum deposit of $50. You can sign up for a demo account to acquaint yourself with Boston Merchant Financial platform.

Boston Merchant Financial are able to accommodate various levels of traders whether you are experienced or a beginner.


Are Boston Merchant Financial safe?

When choosing a broker like Boston Merchant Financial the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 1988, and in operation for 32 years Boston Merchant Financial have a head office in Dubai.

Boston Merchant Financial is regulated. This means Boston Merchant Financial are supervised by and is checked for conduct by the Australian Securities and Investment Commission (ASIC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Boston Merchant Financial, this will be honored. If Boston Merchant Financial violate any regulatory rules their regulated status could be stripped.

Any payments funded to Boston Merchant Financial accounts by traders are held in a segregated bank account.

For added security Boston Merchant Financial use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Boston Merchant Financial. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Boston Merchant Financial

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker BFNM eToro IC Markets Trading212
Year Established 1988 2006 2007 2006
Head Office Dubai Cyprus, UK Australia UK
Regulation Australian Securities and Investment Commission (ASIC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Used By 10,000+ 12,000,000+ 60,000+ 14,000,000+
Negative balance protection No No Yes Yes
Guaranteed Stop Loss Yes No No Yes
Learn More Visit Boston Merchant Financial Visit eToro Visit IC Markets Visit Trading 212
Risk Warning Losses can exceed deposits 75% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Boston Merchant Financial Pros and Cons

What we like about Boston Merchant Financial

  • Used by over 10,000 traders
  • Established in 1988
  • Regulated by Australian Securities and Investment Commission (ASIC)
  • Min. deposit from $50

What we don't like about Boston Merchant Financial

Boston Merchant Financial Financial Regulation and Supervision in more detail

We have checked and Boston Merchant Financial is regulated and supervised by reputable organisations. You are able to check every Boston Merchant Financial supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Boston Merchant Financial. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Boston Merchant Financial traders and provide a safe trading environment.

Boston Merchant Financial is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Boston Merchant Financial you should be sure they're legitimate online agent.

Boston Merchant Financial General Fees

  • Boston Merchant Financial doesn't charge withdrawal fees
  • Boston Merchant Financial doesn't charge inactivity fees
  • Boston Merchant Financial doesn't charge deposit fees
Broker BFNM eToro IC Markets Trading212
Min Deposit 50 200 200 1
Withdrawal Fees No Yes No No
Inactivity Fees No Yes No No
Deposit Fees No No Varies No
CFD Commission Fees No No Yes No

Boston Merchant Financial Commissions

  • Boston Merchant Financial doesn't charge commission on CFD instruments.

What can you trade with Boston Merchant Financial?

Be aware that Different entities under Boston Merchant Financial Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with Boston Merchant Financial over 100 instruments infact.

If you are looking at trading currency pairs Boston Merchant Financial offer over 25 currency pairs.

Compare Boston Merchant Financial with eToro and IC Markets below.

Losses can exceed deposits

Broker BFNM eToro IC Markets Trading212
Instruments Available 100 100 232 3000
Platforms MT4, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, Tablet & Mobile apps
FX / Currencies Visit Boston Merchant Financial Visit eToro Visit IC Markets Visit Trading 212
Forex pairs offered 25 50 65 177
Major forex pairs Yes Yes Yes Yes
Minor forex pairs No Yes Yes Yes
Exotic forex pairs No Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs Visit Boston Merchant Financial Visit eToro Visit IC Markets Visit Trading 212
Commodities Offered 2 0 19 14
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs Visit Boston Merchant Financial Visit eToro Visit IC Markets Visit Trading 212
Stocks Offered 37 957 100 1731
UK Shares Yes Yes No Yes
US Shares Yes Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes

Trading on Boston Merchant Financial web platforms and other applications

Boston Merchant Financial offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Boston Merchant Financial also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Boston Merchant Financial's platforms

Boston Merchant Financial Trading benefits :

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss

Boston Merchant Financial Trading Accounts Offered :

  • Demo account
  • Micro account
  • Standard account
  • STP account
  • Managed account
  • Islamic account

Can I try Boston Merchant Financial before I buy?

Boston Merchant Financial offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Boston Merchant Financial withdrawal and funding methods.

Please note that the list of payment methods below depend on the Boston Merchant Financial Entity and the Clients Country of Residence.

Boston Merchant Financial offer the below funding payment methods. learn more about Boston Merchant Financial

  • Credit cards
  • Bank Transfer
  • Skrill
  • Neteller
  • American Express
Broker BFNM eToro IC Markets Trading212
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer Yes No
Neteller Yes Yes Yes No

How can I start trading with Boston Merchant Financial?

When opening a trading account with Boston Merchant Financial, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Boston Merchant Financial trading platforms here.

Performing trades with Boston Merchant Financial

Boston Merchant Financial allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Boston Merchant Financial offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

Limit Risk When Trading with Boston Merchant Financial Stop Loss, Boston Merchant Financial Stop Limit Orders

A stop-loss order is an order placed with a broker like Boston Merchant Financial to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at Boston Merchant Financial

To trade effectively with Boston Merchant Financial, it's important to get a have a good understanding of the Boston Merchant Financial trading tools and the markets.

Boston Merchant Financial offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Boston Merchant Financial.

Take time to look around the Boston Merchant Financial platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Boston Merchant Financial

Boston Merchant Financial support a wide range of languages including English, Russian, Chinese, Arabic, Spanish

Boston Merchant Financial have a A grade support rating because Boston Merchant Financial offer over three languages.

Livechat Support at Boston Merchant Financial

We tested the Boston Merchant Financial live chat and it works well. We sent messages to Boston Merchant Financial livechat through their app and website and recieved a response within 8 minutes.

We tested communicating with Boston Merchant Financial support in multiple languages in multiple countries. Boston Merchant Financial where able to resolve our customer issues.

Email Support at Boston Merchant Financial

We sent several emails to Boston Merchant Financial and answer times overall were excellent. The fastest response from Boston Merchant Financial was less than 40 minutes and the slowest response was 9 hours. Support response times may vary for you with Boston Merchant Financial, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall good email support from Boston Merchant Financial.

Phone Support at Boston Merchant Financial

We called Boston Merchant Financial and the call was answered very quickly. The call was answered in less than 5 minutes.

The Boston Merchant Financial phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Boston Merchant Financial team by calling in varying languages. Boston Merchant Financial made an effort to make sure our queries were answered.

Overall the phone support from Boston Merchant Financial was okay.

See how Boston Merchant Financial Support Compares Against Other Brokers

Broker BFNM eToro IC Markets Trading212
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Russian, Chinese, Arabic, Spanish English, German, Spanish, French, and Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文
Learn More Visit Boston Merchant Financial Visit eToro Visit IC Markets Visit Trading 212
Risk Warning Losses can exceed deposits 75% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with Boston Merchant Financial

As Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Boston Merchant Financial Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Boston Merchant Financial's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Boston Merchant Financial you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://bmfn.com/ on 12th August 2018.

Is Boston Merchant Financial A Good Broker?

We spent over 3 months examining Boston Merchant Financial in depth. Although we found some very useful aspects of the Boston Merchant Financial platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Boston Merchant Financial broker.

  • Boston Merchant Financial have a good track record of offering Forex.
  • Boston Merchant Financial has a history of over 32 years.
  • Boston Merchant Financial has a reasonable sized customer support of at least 10.
  • Boston Merchant Financial are regulated by Australian Securities and Investment Commission (ASIC). This means Boston Merchant Financial fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Boston Merchant Financial have regulation from a Tier 1 reputable country.
  • Boston Merchant Financial has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Boston Merchant Financial have an international presence in multiple countries. This includes local Boston Merchant Financial seminars and training.
  • Boston Merchant Financial are able to hire people from various locations in the world who can better communicate in your local language.

Boston Merchant Financial Risk Disclaimer

Losses can exceed deposits

Boston Merchant Financial not quite right?

Check out these Boston Merchant Financial Alternatives

We have spent years researching the best alternatives to Boston Merchant Financial. Click the links below to learn more.

If you feel some of the above Boston Merchant Financial are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Boston Merchant Financial alternatives below.

Related Boston Merchant Financial Comparisons

If you would like to see how Boston Merchant Financial stands up against other brokers you can read some of our Boston Merchant Financial comparisons below. We compare side by side some of our top rated Boston Merchant Financial versus comparisons. Read some indepth Boston Merchant Financial VS pages below.

BOSTON MERCHANT FINANCIAL Frequently Asked Questions

Can I try Boston Merchant Financial before I buy?

Boston Merchant Financial offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do Boston Merchant Financial accept?

Please note that the list of payment methods below depend on the Boston Merchant Financial Entity and the Clients Country of Residence.

Boston Merchant Financial offer the following funding payment methods accept Credit cards, Bank Transfers, Skrill, Neteller, American Express, Wire Transfer, among other payment methods.
Learn more here

Losses can exceed deposits

Is Boston Merchant Financial safe?

Boston Merchant Financial are considered safe as they are regulated by and checked for conduct by the Australian Securities and Investment Commission (ASIC). Any payments funded to Boston Merchant Financial accounts by traders are held in a segregated bank account. For added security Boston Merchant Financial use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is Boston Merchant Financial trading good?

Boston Merchant Financial is considered good and reputable to trade with. Boston Merchant FinancialBoston Merchant Financial is used by over Boston Merchant Financial active traders. Boston Merchant Financial offers Forex trading. Minimum deposit with Boston Merchant Financial is 50.

Is Boston Merchant Financial trading Legit?

Boston Merchant Financial was founded in Dubai in 1988. Boston Merchant Financial has been facilitating trade on the financial markets for over 32 years. Boston Merchant Financial offers clients Forex trading. All funds deposited to Boston Merchant Financial are held in segregated tier 1 bank accounts for security. Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC) so can be considered legit.

Is Boston Merchant Financial a good broker?

Boston Merchant Financial is overseen by the top tier financial regulators Australian Securities and Investment Commission (ASIC) so can be considered a good broker. Boston Merchant Financial allows Forex trading.

Is Boston Merchant Financial trustworthy broker?

Boston Merchant Financial can be considered trustworthy. All money funded to Boston Merchant Financial is placed into a segregated tier 1 bank account. this means your money in not held by Boston Merchant Financial directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC).

What is the minimum deposit for Boston Merchant Financial?

The minimum deposit to trade with Boston Merchant Financial is 50.

How long do Boston Merchant Financial withdrawals take?

Withdrawing money from Boston Merchant Financial processing time varies but averages 2-5 days.

Is Boston Merchant Financial regulated?

Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC).

Is Boston Merchant Financial a market maker?

Boston Merchant Financial is a market maker. Stocks, currency and other commodities and instruments will be purchased by Boston Merchant Financial even if no buyer is lined up.

How can I start trading with Boston Merchant Financial?

When opening a trading account with Boston Merchant Financial, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Boston Merchant Financial trading platforms here.

Is my money safe with Boston Merchant Financial?

Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC). One of the most important criteria for traders when choosing a broker like Boston Merchant Financial is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Boston Merchant Financial, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Boston Merchant Financial a con?

Boston Merchant Financial is regulated and well established having been in business for over 32 years. Boston Merchant Financial is definitely not a con.

Can you make money with Boston Merchant Financial?

Although traders have had great success with Boston Merchant Financial. Trading on the financial markets with Boston Merchant Financial is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does Boston Merchant Financial have fees?

Boston Merchant Financial doesn't charge withdrawal fees. Boston Merchant Financial doesn't charge inactivity fees. Boston Merchant Financial doesn't charge deposit fees.

When was Boston Merchant Financial founded?

Boston Merchant Financial was founded in 1988.

How many people use Boston Merchant Financial?

Boston Merchant Financial is used by over 10000 registered traders.

What is Boston Merchant Financial Headquarters country?

Boston Merchant Financial has its head quarters office in Dubai.

Does Boston Merchant Financial offer negative balance protection?

Boston Merchant Financial does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Boston Merchant Financial offer guaranteed stop loss?

Boston Merchant Financial offers guaranteed stop loss protection. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Boston Merchant Financial allow scalping?

Boston Merchant Financial offers scalping.

Does Boston Merchant Financial allow hedging?

Boston Merchant Financial offers hedging.

Does Boston Merchant Financial offer CFD trading?

Boston Merchant Financial does not offer CFD trading.

Does Boston Merchant Financial offer STP?

Boston Merchant Financial offers STP trading.

How many people use Boston Merchant Financial?

Boston Merchant Financial is used by over 10000 traders.

Is Boston Merchant Financial an ECN broker?

Boston Merchant Financial does not offer ECN trading.

Does Boston Merchant Financial offer a demo account?

Boston Merchant Financial offers a demo account.

Does Boston Merchant Financial offer an Islamic account?

Boston Merchant Financial offers a Islamic accounts.

What are the funding methods for Boston Merchant Financial?

Boston Merchant Financial accept the following funding methods : Credit cards, Skrill, Neteller, American Express, Bank Transfer.

Boston Merchant Financial review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Boston Merchant Financial brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Boston Merchant Financial review written by Mark Hansen of Comparebrokers.co