Bitfinex
Boston Merchant Financial
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Overview
Bitfinex was founded in 2015 and is headquartered in New Zealand, while Boston Merchant Financial was established in 1988 and is based in Dubai. Bitfinex holds licences including Financial Services Provider (FSP), while Boston Merchant Financial is regulated by Australian Securities and Investment Commission (ASIC) among others. Bitfinex serves 10,000+ clients worldwide; Boston Merchant Financial has 10,000+. The minimum deposit is $100 at Bitfinex and $50 at Boston Merchant Financial.
| Feature | Bitfinex | Boston Merchant Financial |
|---|---|---|
| Min. Deposit | $100 | $50 |
| Regulation | Financial Services Provider (FSP) | Australian Securities and Investment Commission (ASIC) |
| Founded | 2015 | 1988 |
| Country | New Zealand | Dubai |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Bitfinex and Boston Merchant Financial, directly affecting your bottom line as a trader. Bitfinex has a lower barrier to entry with a minimum deposit of $100 (vs $50 at Boston Merchant Financial). Bitfinex charges withdrawal fees while Boston Merchant Financial does not, a notable advantage for frequent withdrawers. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Bitfinex | Boston Merchant Financial |
|---|---|---|
| Min. Deposit | $100 | $50 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Bitfinex 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 | Bitfinex | 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 | Android Apps,iPhone/iPad,Desktop | 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 Bitfinex and Boston Merchant Financial compare. Bitfinex runs regular live webinars; Boston Merchant Financial does not. Bitfinex has a video library; Boston Merchant Financial does not. Bitfinex publishes daily market commentary; Boston Merchant Financial does not. Bitfinex integrates third-party research tools (Trading Central, Autochartist); Boston Merchant Financial does not. Bitfinex maintains an archive of past webinars for on-demand viewing. Bitfinex scores higher overall in education and research.
| Feature | Bitfinex | 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. Bitfinex 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 | Bitfinex | 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 Bitfinex 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 | Bitfinex | Boston Merchant Financial |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |