Boston Merchant Financial
IKON Finance
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while IKON Finance was established in 2011 and is based in London. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while IKON Finance is regulated by Financial Conduct Authority (FCA) among others. Boston Merchant Financial serves 10,000+ clients worldwide; IKON Finance has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $200 at IKON Finance.
| Feature | Boston Merchant Financial | IKON Finance |
|---|---|---|
| Min. Deposit | $50 | $200 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA) |
| Founded | 1988 | 2011 |
| Country | Dubai | London |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and IKON Finance, directly affecting your bottom line as a trader. IKON Finance has a lower barrier to entry with a minimum deposit of $200 (vs $50 at Boston Merchant Financial). Neither broker charges withdrawal fees. IKON Finance applies inactivity fees on dormant accounts; Boston Merchant Financial does not. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Boston Merchant Financial | IKON Finance |
|---|---|---|
| Min. Deposit | $50 | $200 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Boston Merchant Financial offers MT5, cTrader, while IKON Finance supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Boston Merchant Financial supports social and copy trading features, which IKON Finance does not offer. IKON Finance edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | IKON Finance |
|---|---|---|
| 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, ZuluTrade, 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 IKON Finance compare. IKON Finance runs regular live webinars; Boston Merchant Financial does not. IKON Finance has a video library; Boston Merchant Financial does not. IKON Finance publishes daily market commentary; Boston Merchant Financial does not. IKON Finance integrates third-party research tools (Trading Central, Autochartist); Boston Merchant Financial does not. IKON Finance maintains an archive of past webinars for on-demand viewing. IKON Finance scores higher overall in education and research.
| Feature | Boston Merchant Financial | IKON Finance |
|---|---|---|
| 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 IKON Finance supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | IKON Finance |
|---|---|---|
| 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 IKON Finance 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 | IKON Finance |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |