Boston Merchant Financial
Varengold Bank
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while Varengold Bank was established in 2008 and is based in Germany. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while Varengold Bank is regulated by Unregulated among others. Boston Merchant Financial serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $250 at Varengold Bank.
| Feature | Boston Merchant Financial | Varengold Bank |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Unregulated |
| Founded | 1988 | 2008 |
| Country | Dubai | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and Varengold Bank, directly affecting your bottom line as a trader. Varengold Bank has a lower barrier to entry with a minimum deposit of $250 (vs $50 at Boston Merchant Financial). Varengold Bank charges withdrawal fees while Boston Merchant Financial does not, giving Boston Merchant Financial an edge for frequent withdrawers. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Boston Merchant Financial | Varengold Bank |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Boston Merchant Financial offers MT5, cTrader, while Varengold Bank 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. Varengold Bank edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | Varengold Bank |
|---|---|---|
| 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 | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and Varengold Bank compare. Varengold Bank runs regular live webinars; Boston Merchant Financial does not. Varengold Bank has a video library; Boston Merchant Financial does not. Varengold Bank publishes daily market commentary; Boston Merchant Financial does not. Varengold Bank integrates third-party research tools (Trading Central); Boston Merchant Financial does not. Varengold Bank maintains an archive of past webinars for on-demand viewing. Varengold Bank scores higher overall in education and research.
| Feature | Boston Merchant Financial | Varengold Bank |
|---|---|---|
| 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 Varengold Bank supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | Varengold Bank |
|---|---|---|
| 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 Varengold Bank 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 | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |