Boston Merchant Financial
fxcl markets
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while fxcl markets was established in 2006 and is based in Cayman Islands. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while fxcl markets is regulated by Financial Services Authority (FSA) number 1637 among others. Boston Merchant Financial serves 10,000+ clients worldwide; fxcl markets has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $250 at fxcl markets.
| Feature | Boston Merchant Financial | fxcl markets |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Services Authority (FSA) number 1637 |
| Founded | 1988 | 2006 |
| Country | Dubai | Cayman Islands |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and fxcl markets, directly affecting your bottom line as a trader. fxcl markets 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 | fxcl markets |
|---|---|---|
| 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 fxcl markets 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. fxcl markets edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | fxcl markets |
|---|---|---|
| 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 fxcl markets compare. fxcl markets runs regular live webinars; Boston Merchant Financial does not. fxcl markets has a video library; Boston Merchant Financial does not. fxcl markets publishes daily market commentary; Boston Merchant Financial does not. fxcl markets integrates third-party research tools (Trading Central, Autochartist); Boston Merchant Financial does not. fxcl markets maintains an archive of past webinars for on-demand viewing. fxcl markets scores higher overall in education and research.
| Feature | Boston Merchant Financial | fxcl markets |
|---|---|---|
| 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 fxcl markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fxcl markets uniquely supports PayPal and Skrill and Neteller among the two brokers. fxcl markets scores higher on deposit and withdrawal flexibility.
| Feature | Boston Merchant Financial | fxcl markets |
|---|---|---|
| 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 fxcl markets offer live chat support. Both provide phone support. Email support is available at both brokers. Boston Merchant Financial supports 2 languages and fxcl markets supports 8, giving fxcl markets broader global reach. Both brokers are comparable on support quality.
| Feature | Boston Merchant Financial | fxcl markets |
|---|---|---|
| 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 |