Boston Merchant Financial
Charter Prime
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while Charter Prime was established in 2012 and is based in Australia. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while Charter Prime is regulated by Financial Conduct Authority (FCA) among others. Boston Merchant Financial serves 10,000+ clients worldwide; Charter Prime has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $200 at Charter Prime.
| Feature | Boston Merchant Financial | Charter Prime |
|---|---|---|
| Min. Deposit | $50 | $200 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA) |
| Founded | 1988 | 2012 |
| Country | Dubai | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and Charter Prime, directly affecting your bottom line as a trader. Charter Prime has a lower barrier to entry with a minimum deposit of $200 (vs $50 at Boston Merchant Financial). Neither broker charges withdrawal fees. Charter Prime charges deposit fees; Boston Merchant Financial does not. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Boston Merchant Financial | Charter Prime |
|---|---|---|
| Min. Deposit | $50 | $200 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Boston Merchant Financial offers MT5, cTrader, while Charter Prime supports MT4, 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. Charter Prime edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | Charter Prime |
|---|---|---|
| MT4 | No | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Web Trader, Tablet & Mobile apps | MetaTrader 4 |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and Charter Prime compare. Charter Prime runs regular live webinars; Boston Merchant Financial does not. Charter Prime has a video library; Boston Merchant Financial does not. Charter Prime publishes daily market commentary; Boston Merchant Financial does not. Charter Prime integrates third-party research tools (Trading Central, Autochartist); Boston Merchant Financial does not. Charter Prime maintains an archive of past webinars for on-demand viewing. Charter Prime scores higher overall in education and research.
| Feature | Boston Merchant Financial | Charter Prime |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Boston Merchant Financial accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Charter Prime supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | Charter Prime |
|---|---|---|
| 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 Boston Merchant Financial and Charter Prime 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 | Boston Merchant Financial | Charter Prime |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |