Ally invest
Boston Merchant Financial
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Ally invest was founded in 2013 and is headquartered in United States, while Boston Merchant Financial was established in 1988 and is based in Dubai. Ally invest holds licences including Cyprus Securities and Exchange Commission (CySEC), while Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC) among others. Ally invest serves 10,000+ clients worldwide; Boston Merchant Financial has 10,000+. The minimum deposit is $500 at Ally invest and $50 at Boston Merchant Financial.
| Feature | Ally invest | Boston Merchant Financial |
|---|---|---|
| Min. Deposit | $500 | $50 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investment Commission (ASIC) |
| Founded | 2013 | 1988 |
| Country | United States | Dubai |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Ally invest and Boston Merchant Financial, directly affecting your bottom line as a trader. Boston Merchant Financial has a lower barrier to entry with a minimum deposit of $50 (vs $500 at Ally invest). Neither broker charges withdrawal fees. Ally invest applies inactivity fees on dormant accounts; Boston Merchant Financial does not. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Ally invest | Boston Merchant Financial |
|---|---|---|
| Min. Deposit | $500 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | Yes | No |
Platforms
Ally invest offers MT5, cTrader, while Boston Merchant Financial supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Ally invest | Boston Merchant Financial |
|---|---|---|
| MT4 | No | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop,Android,iPhone,Mac | MT4, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Ally invest and Boston Merchant Financial compare. Ally invest runs regular live webinars; Boston Merchant Financial does not. Ally invest has a video library; Boston Merchant Financial does not. Ally invest publishes daily market commentary; Boston Merchant Financial does not. Ally invest integrates third-party research tools (Trading Central, Autochartist); Boston Merchant Financial does not. Ally invest maintains an archive of past webinars for on-demand viewing. Ally invest scores higher overall in education and research.
| Feature | Ally invest | Boston Merchant Financial |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Ally invest accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Boston Merchant Financial supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Ally invest | Boston Merchant Financial |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Ally invest and Boston Merchant Financial offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Ally invest | Boston Merchant Financial |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |