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Boston Merchant Financial Broker Review

Author By Jeffrey Cammack
Updated: September 6, 2022
Overall Rating
2.52 2.52 / 5
🏦  Min. DepositUSD 50
🛡️  Regulated By
💵  Trading Cost 
USD 14
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertFX Scouts does NOT recommend BMFN due to insufficient regulation. We suggest you continue your search using our approved brokers list.
Last updated on September 6, 2022
by Editorial Director Jeffrey Cammack
Jeffrey Cammack

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Our verdict on Boston Merchant Financial

FX Scouts does NOT recommend Boston Merchant Financial Group due to insufficient regulation. We suggest that you find an alternative regulated broker governed by processes designed to protect your funds.

Supplying customers with MT4, but minimal educational material and regulatory oversight over their accounts, there are more attractive places for beginners to start than BMFN. A lack of transparency in areas of execution and commissions charged means trading costs could not be estimated and confirmed. At the same time withdrawals all carry a 50 USD administration fee.

🏦  Min. DepositUSD 50
🛡️  Regulated By
💵  Trading Cost 
USD 14
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

Regulation
100001/ 5
Trading Conditions
111003/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
10.50001.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Poor
Welcome Bonus

Account Information

Base Currencies
EUR, USD, CHF, CAD, GBP, AUD, NZD
Number of FX Pairs
23
Crypto Pairs
0
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
Commission
Fees Included in Spread
EUR/USD
1.40 pips
GBP/USD
1.40 pips
USD/JPY
1.40 pips
Negative Balance Protection

Company Details

Company Name
BMFN Limited
Founded
1988
Website
Website Language
English
Support Language
English
Office Locations
Vanuatu, Australia
AlertFX Scouts does NOT recommend BMFN due to insufficient regulation. We suggest you continue your search using our approved brokers list.
Find An Approved Broker
Overall Rating
2.52 2.52  / 5
Site Icon Data provided by fx-kenya

Regulators

  • Australia ASIC
  • Vanuatu VFSC

Boston Merchant Financial Trading Cost Comparison

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