Boston Merchant Financial
Xtrade
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Overview
Boston Merchant Financial was founded in 1988 and is headquartered in Dubai, while Xtrade was established in 2003 and is based in Australia. Boston Merchant Financial holds licences including Australian Securities and Investment Commission (ASIC), while Xtrade is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. Boston Merchant Financial serves 10,000+ clients worldwide; Xtrade has 10,000+. The minimum deposit is $50 at Boston Merchant Financial and $1 at Xtrade.
| Feature | Boston Merchant Financial | Xtrade |
|---|---|---|
| Min. Deposit | $50 | $1 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 1988 | 2003 |
| Country | Dubai | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Boston Merchant Financial and Xtrade, directly affecting your bottom line as a trader. Xtrade has a lower barrier to entry with a minimum deposit of $1 (vs $50 at Boston Merchant Financial). Neither broker charges withdrawal fees. Xtrade charges deposit fees; Boston Merchant Financial does not. The two brokers are broadly comparable on fee structure.
| Feature | Boston Merchant Financial | Xtrade |
|---|---|---|
| Min. Deposit | $50 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Boston Merchant Financial offers MT5, cTrader, while Xtrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Boston Merchant Financial supports social and copy trading features, which Xtrade does not offer. Xtrade edges ahead on platform breadth and functionality in our scoring.
| Feature | Boston Merchant Financial | Xtrade |
|---|---|---|
| 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 | Not available |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Boston Merchant Financial and Xtrade compare. The two brokers are evenly matched on educational content.
| Feature | Boston Merchant Financial | Xtrade |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| 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 uniquely supports bank transfer and credit/debit card among the two brokers. Boston Merchant Financial scores higher on deposit and withdrawal flexibility.
| Feature | Boston Merchant Financial | Xtrade |
|---|---|---|
| Bank Transfer | Yes | Not available |
| Credit Card | Yes | Not available |
| PayPal | No | Not available |
| Skrill | No | Not available |
| Neteller | No | Not available |
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 Xtrade offer live chat support. Both provide phone support. Email support is available at both brokers. Boston Merchant Financial offers multilingual support. Both brokers are comparable on support quality.
| Feature | Boston Merchant Financial | Xtrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | Not available |