Boston Merchant Financial
Saxo Markets
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while Saxo Markets was established in 2012 and is based in Denmark. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. Boston Merchant Financial serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $6500 at Saxo Markets.
| Feature | Boston Merchant Financial | Saxo Markets |
|---|---|---|
| Min. Deposit | $50 | $6500 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Financial Conduct Authority (FCA) |
| Founded | 1988 | 2012 |
| Country | Dubai | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and Saxo Markets, directly affecting your bottom line as a trader. Boston Merchant Financial has a lower barrier to entry with a minimum deposit of $50 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while Boston Merchant Financial does not, giving Boston Merchant Financial an edge for frequent withdrawers. Saxo Markets 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 | Saxo Markets |
|---|---|---|
| Min. Deposit | $50 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Boston Merchant Financial offers MT5, cTrader, while Saxo 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. Saxo Markets edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | Saxo 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 | Mac, Web Trader, 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 Saxo Markets compare. Saxo Markets has a video library; Boston Merchant Financial does not. Saxo Markets integrates third-party research tools (Autochartist); Boston Merchant Financial does not. Saxo Markets scores higher overall in education and research.
| Feature | Boston Merchant Financial | Saxo Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| 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 Saxo Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | Saxo Markets |
|---|---|---|
| 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 Saxo Markets 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 | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |