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Home/ Best Forex Brokers in Zambia for 2024/ Boston Merchant Financial

Boston Merchant Financial Broker Review

Author Author:  Jeffrey Cammack Published: April 5, 2020
Editor Editor:  Chris Cammack Updated: May 8, 2023

Last Updated On May 8, 2023

Jeffrey Cammack
Broker Score
2.52 2.52 / 5
🏦  Min. DepositUSD 50
🛡️  Regulated By
💵  Trading Cost 
USD 14
⚖️  Max. Leverage200:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertFxScouts does NOT recommend BMFN due to insufficient regulation. We suggest you continue your search using our approved brokers list.

Last Updated On May 8, 2023

Jeffrey Cammack

75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

Our verdict on Boston Merchant Financial

FxScouts 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

Trust Rating
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

Pros

  • #N/A

Cons

  • #N/A

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

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AlertFxScouts does NOT recommend BMFN due to insufficient regulation. We suggest you continue your search using our approved brokers list.
Find An Approved Broker
Broker Score
2.52 2.52  / 5
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Boston Merchant Financial Financial Regulation

Regulator License
Regulator License

Boston Merchant Financial Trading Cost Comparison

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