Boston Merchant Financial
WIT Invest
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while WIT Invest was established in 2008 and is based in Saint Vincent and the Grenadines. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while WIT Invest is regulated by Unregulated among others. Boston Merchant Financial serves 10,000+ clients worldwide; WIT Invest has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $100 at WIT Invest.
| Feature | Boston Merchant Financial | WIT Invest |
|---|---|---|
| Min. Deposit | $50 | $100 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Unregulated |
| Founded | 1988 | 2008 |
| Country | Dubai | Saint Vincent and the Grenadines |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and WIT Invest, directly affecting your bottom line as a trader. WIT Invest has a lower barrier to entry with a minimum deposit of $100 (vs $50 at Boston Merchant Financial). Neither broker charges withdrawal fees. WIT Invest charges deposit fees; Boston Merchant Financial does not. Overall, Boston Merchant Financial scores higher on fees in our assessment.
| Feature | Boston Merchant Financial | WIT Invest |
|---|---|---|
| Min. Deposit | $50 | $100 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Boston Merchant Financial offers MT5, cTrader, while WIT Invest 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. WIT Invest edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | WIT Invest |
|---|---|---|
| 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, Tablet & Mobile apps,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and WIT Invest compare. WIT Invest runs regular live webinars; Boston Merchant Financial does not. WIT Invest has a video library; Boston Merchant Financial does not. WIT Invest publishes daily market commentary; Boston Merchant Financial does not. WIT Invest integrates third-party research tools (Trading Central); Boston Merchant Financial does not. WIT Invest maintains an archive of past webinars for on-demand viewing. WIT Invest scores higher overall in education and research.
| Feature | Boston Merchant Financial | WIT Invest |
|---|---|---|
| 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 WIT Invest supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Boston Merchant Financial | WIT Invest |
|---|---|---|
| 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 WIT Invest 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 | WIT Invest |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |