Boston Merchant Financial
Etrade
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while Etrade was established in 2012 and is based in United States. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while Etrade is regulated by Securities and Exchange Commission (SEC) among others. Boston Merchant Financial serves 10,000+ clients worldwide; Etrade has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $100 at Etrade.
| Feature | Boston Merchant Financial | Etrade |
|---|---|---|
| Min. Deposit | $50 | $100 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 1988 | 2012 |
| Country | Dubai | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and Etrade, directly affecting your bottom line as a trader. Etrade has a lower barrier to entry with a minimum deposit of $100 (vs $50 at Boston Merchant Financial). Neither broker charges withdrawal fees. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Boston Merchant Financial | Etrade |
|---|---|---|
| Min. Deposit | $50 | $100 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Boston Merchant Financial offers MT5, cTrader, while Etrade 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. Etrade edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | Etrade |
|---|---|---|
| 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 | cTrader, SocialTrading, webPlatform, DesktopPlatform, Proprietary . |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and Etrade compare. Etrade runs regular live webinars; Boston Merchant Financial does not. Etrade has a video library; Boston Merchant Financial does not. Etrade publishes daily market commentary; Boston Merchant Financial does not. Etrade integrates third-party research tools (Trading Central); Boston Merchant Financial does not. Etrade maintains an archive of past webinars for on-demand viewing. Etrade scores higher overall in education and research.
| Feature | Boston Merchant Financial | Etrade |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
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 Etrade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | Etrade |
|---|---|---|
| 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 Etrade 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 | Etrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |