Boston Merchant Financial
OANDA
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while OANDA was established in 1996 and is based in United States, Canada. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while OANDA is regulated by Financial Conduct Authority (FCA) among others. Boston Merchant Financial serves 10,000+ clients worldwide; OANDA has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $1 at OANDA.
| Feature | Boston Merchant Financial | OANDA |
|---|---|---|
| Min. Deposit | $50 | $1 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Founded | 1988 | 1996 |
| Country | Dubai | United States, Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and OANDA, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $50 at Boston Merchant Financial). Neither broker charges withdrawal fees. The two brokers are broadly comparable on fee structure.
| Feature | Boston Merchant Financial | OANDA |
|---|---|---|
| Min. Deposit | $50 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Boston Merchant Financial offers MT5, cTrader, while OANDA supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Boston Merchant Financial supports social and copy trading features, which OANDA does not offer. OANDA edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | OANDA |
|---|---|---|
| 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, OANDA Desktop, OANDA Web, OANDA Mobile |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and OANDA compare. OANDA runs regular live webinars; Boston Merchant Financial does not. OANDA has a video library; Boston Merchant Financial does not. OANDA publishes daily market commentary; Boston Merchant Financial does not. OANDA integrates third-party research tools (Trading Central); Boston Merchant Financial does not. OANDA maintains an archive of past webinars for on-demand viewing. OANDA scores higher overall in education and research.
| Feature | Boston Merchant Financial | OANDA |
|---|---|---|
| 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 OANDA supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | OANDA |
|---|---|---|
| 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 OANDA 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 | OANDA |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |