Boston Merchant Financial
First Trade
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while First Trade was established in 2008 and is based in USA. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while First Trade is regulated by Securities and Exchange Commission (SEC) among others. Boston Merchant Financial serves 10,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $5 at First Trade.
| Feature | Boston Merchant Financial | First Trade |
|---|---|---|
| Min. Deposit | $50 | $5 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 1988 | 2008 |
| Country | Dubai | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and First Trade, directly affecting your bottom line as a trader. First Trade has a lower barrier to entry with a minimum deposit of $5 (vs $50 at Boston Merchant Financial). First Trade charges withdrawal fees while Boston Merchant Financial does not, giving Boston Merchant Financial an edge for frequent withdrawers. First Trade charges deposit fees; Boston Merchant Financial does not. The two brokers are broadly comparable on fee structure.
| Feature | Boston Merchant Financial | First Trade |
|---|---|---|
| Min. Deposit | $50 | $5 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Boston Merchant Financial offers MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Boston Merchant Financial supports social and copy trading features, which First Trade does not offer. First Trade edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | First Trade |
|---|---|---|
| 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 | MT4,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and First Trade compare. First Trade runs regular live webinars; Boston Merchant Financial does not. First Trade has a video library; Boston Merchant Financial does not. First Trade publishes daily market commentary; Boston Merchant Financial does not. First Trade integrates third-party research tools (Trading Central, Autochartist); Boston Merchant Financial does not. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | Boston Merchant Financial | First Trade |
|---|---|---|
| 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 First Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | First Trade |
|---|---|---|
| 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 First Trade 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 | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |