Introduction
BostonMEX is an online broker that specialises in forex and CFD trading. It offers a range of assets, including currency pairs, commodities, indices and shares. The company is based in the Seychelles and is regulated by the Financial Services Authority (FSA). In this BostonMEX review, we will take a look at the pros and cons of this broker, as well as what other traders have said about their experience with the company.
What is BostonMEX?
BostonMEX is an online trading platform that allows users to trade a variety of financial instruments, including forex, CFDs, and cryptocurrencies. The platform is owned and operated by Boston Technologies Ltd., a company that is based in the Marshall Islands.
BostonMEX offers a web-based trading platform as well as a mobile app for iOS and Android devices. The platform is available in English, Spanish, French, Italian, German, Russian, and Chinese.
The minimum deposit for new accounts is $250, and the minimum trade size is 0.01 lots. Leverage up to 1:500 is available for forex pairs, and up to 1:200 for other instruments.
BostonMEX charges a commission of $4 per lot on all trades. There are also overnight financing charges for positions that are held open overnight.
The company offers customer support via email, telephone, and live chat.
BostonMEX Pros
BostonMEX is one of the popular online brokers that offer trading in forex, CFDs, and commodities. The company is headquartered in Mauritius and is regulated by the Financial Services Commission (FSC). The broker provides its services through the MetaTrader 4 and WebTrader platforms.
The main advantages of BostonMEX are:
– Regulated by the Financial Services Commission (FSC)
– Offers trading in forex, CFDs, and commodities
– Provides its services through the MetaTrader 4 and WebTrader platforms
– Has a leverage of up to 1:200
– Minimum deposit of $100
– 24/5 customer support
BostonMEX Cons
When it comes to BostonMEX, there are some definite pros and cons that need to be considered. For starters, BostonMEX is one of the few exchanges that allow US clients to trade on their platform. That said, there are some drawbacks to using BostonMEX as your go-to exchange.
One major con is that BostonMEX charges high fees for both trading and withdrawals. Their trading fees are 0.2% per trade, while withdrawal fees can be as high as $50. This can quickly eat into your profits if you’re not careful.
Another downside to using BostonMEX is that they don’t offer a whole lot of altcoins. So if you’re looking to trade anything other than Bitcoin or Ethereum, you might be out of luck. Finally, their customer support has been known to be slow and unresponsive at times, which can be frustrating.
BostonMEX Traders Rating
BostonMEX is a forex and CFD broker that offers trading in a wide range of assets, including currency pairs, stocks, indices, commodities and crypto coins. The company is headquartered in the United Kingdom and is regulated by the Financial Conduct Authority (FCA).
BostonMEX has been in operation since 2016 and offers its services to clients from all over the world. The broker provides a user-friendly trading platform, which is available as a web-based platform or as a mobile app. It also offers a wide range of educational resources to help traders improve their skills.
The minimum deposit for a live account is $500 and leverage of up to 1:200 is available. Spreads start at 0.6 pips for major currency pairs.
Overall, BostonMEX is a reliable broker that offers a good selection of assets and features. The broker is best suited for experienced traders who are looking for a user-friendly platform with competitive spreads.
Conclusion
BostonMEX is a reliable and user-friendly online trading platform that offers a wide range of features and tools to its users. While it does have some cons, such as high fees and a lack of customer support, the pros outweigh the cons by far. Overall, we rate BostonMEX 4 out of 5 stars.