Boston Merchant Financial
fx open
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while fx open was established in 2019 and is based in Puerto Rico. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while fx open is regulated by Financial Conduct Authority (FCA) among others. Boston Merchant Financial serves 10,000+ clients worldwide; fx open has 60,000+. The minimum deposit is $50 at Boston Merchant Financial and $250 at fx open.
| Feature | Boston Merchant Financial | fx open |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F238 |
| Founded | 1988 | 2019 |
| Country | Dubai | Puerto Rico |
| Clients | 10,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and fx open, directly affecting your bottom line as a trader. fx open has a lower barrier to entry with a minimum deposit of $250 (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 | fx open |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Boston Merchant Financial offers MT5, cTrader, while fx open supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Boston Merchant Financial supports social and copy trading features, which fx open does not offer. fx open edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | fx open |
|---|---|---|
| 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, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and fx open compare. fx open runs regular live webinars; Boston Merchant Financial does not. fx open has a video library; Boston Merchant Financial does not. fx open publishes daily market commentary; Boston Merchant Financial does not. fx open integrates third-party research tools (Trading Central); Boston Merchant Financial does not. fx open maintains an archive of past webinars for on-demand viewing. fx open scores higher overall in education and research.
| Feature | Boston Merchant Financial | fx open |
|---|---|---|
| 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 fx open supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fx open uniquely supports PayPal and Skrill and Neteller among the two brokers. fx open scores higher on deposit and withdrawal flexibility.
| Feature | Boston Merchant Financial | fx open |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
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 fx open offer live chat support. Both provide phone support. Email support is available at both brokers. Boston Merchant Financial supports 2 languages and fx open supports 8, giving fx open broader global reach. Both brokers are comparable on support quality.
| Feature | Boston Merchant Financial | fx open |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |