Boston Merchant Trading Desk opens Sundays at 22:00 GMT and does not close until Friday at 21:30 GMT. |
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Boston Merchant offers trading in the following currency pairs:
| EUR/USD |
GBP/CHF |
| USD/JPY |
AUD/JPY |
| GBP/USD |
EUR/AUD |
| USD/CHF |
EUR/CAD |
| USD/CAD |
NZD/JPY |
| AUD/USD |
CAD/JPY |
| EUR/GBP |
GBP/CAD |
| EUR/JPY |
GBP/NZD |
| GBP/JPY |
GBP/AUD |
| CHF/JPY |
AUD/NZD |
| EUR/CHF |
AUD/CHF |
| NZD/USD |
USD/MXN |
NOTE: USD/MXN market price is ONLY available during the New York market hours (Approximately between 8am - 5pm EST). ALL USD/MXN orders entered before 8 AM or after 5 PM will only be accepted at our dealing desk's discretion. |
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Boston Merchant offers 2 point spreads on both EUR/USD and USD/JPY and 3-4 point spreads in other major currencies (GBP/USD, USD/CHF). Prices quoted are inclusive of our normal dealing spreads. However, during periods of high volatility, for example, when major economic news is released, spreads can sometimes widen. The spreads are the same for Retail customers and Institutional customers on all currencies. |
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All deals are sized in units of 1 of the base currency (ie. GBP/USD is £1). All of the deals are numbered in terms of 'lots'. The maximum deal size available online is 50 million of the base currency. |
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A minimum transaction size is 1 lot, or 1 unit of the base currency. An account with a margin deposit of 1% would open a €1 position and would require an initial margin deposit of $.01. |
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Through the online platform customers are able to execute trades directly from real time streaming bid/ask quotes. Live prices are continuously updated via our trading software and traders can at any time click on the current bid or offer and instantaneously execute a trade. |
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Executing a deal via the Internet is a simple two-step process. Simply enter the number of lots and then click on the bid (sell) or offer (buy) for the currency pair you wish to trade - your deal is automatically executed. The dealing software automatically calculates the initial margin requirement based upon the notional amount of the deal, and if sufficient funds are available in your account, will accept the transaction. Deals are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current floating P&L. |
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The dealing platform provides sophisticated order entry and tracking. Orders may be entered at any rate - inside or outside the existing spread - using the following orders types:
- Market Order
An order based on a current market price.
- Limit orders
An order with restrictions on the maximum price to be paid or the minimum price to be received.
- Stop Loss orders
Order type whereby an open position is automatically liquidated at a specific price. Often used to minimize exposure to losses if the market moves against an investor's position.
In normal markets any sell stops will be filled on a dealer's bid, and buy stops are filled on a dealer's offer. If the market "gaps" sharply up or down the stops will be filled at the best available price. |
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A rollover is the simultaneous closing of an open position for today's value date, (normally at the end of the trading day) and the opening of the same position for the next day's value date at a price reflecting the interest rate differential between the two currencies.
On Wednesday, all positions which are rolled overnight to Thursday would have the value date of the following Monday. To account for the two days of interest for the weekend when banks are not open and actual delivery cannot be made, BMFN will credit or charge three times interest for positions rolled over on Wednesday as per industry standard. |
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Deals are confirmed on screen, typically within one second. Full transaction details may be accessed on screen as well, including date, time, rate, notional amount bought and sold, USD value, and reference number. |
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The dealing software tracks all trading activity in real time, allowing clients to view current open positions, real-time profit and loss, margin availability, account balances, and all historical transaction details directly on-screen. |
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| Account statements can be accessed 24/7 through the reporting links. |
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1. Call the trading desk to speak with a dealer.
2. State your name, account number, user ID and password.
3. Ask for a price in the desired currency pair, indicating the amount you wish to trade.
4. After you execute your deal, the dealer will confirm your deal details back to you.
5. If it is correct, confirm with the dealer and hang up. You have now finished your phone deal. You should also check that you phone deal is inputted correctly into your account on the on-line trading platform |
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Notice Regarding Entry Stop, Entry Limits and Stop Orders:
Boston Merchant does not guarantee any order. Placing stops, regardless of the entry or closing designation, does not guarantee the trade will be filled at the order price. All Entry Stops and Stops will be filled, upon activation, at the first/best available market price that may or may not match the requested order price. During periods of increased volatility, the market may “gap”, causing the aforementioned orders to be filled at a price considerably away from that originally requested in the Order. Market standards dictate that Entry Stop and Stop orders be filled at the first available price. In contrast, a Market Order will give the trader the option of accepting or rejecting an updated price. Please be aware that FX market conventions differ from other markets.
Notice Regarding Provided Charting
Please note that the charts provided within our trading platform are based on indicative pricing and in no way reflect tick-by-tick pricing as displayed on the Boston Merchant platform. These charts are provided by a third party and could deviate from our pricing at any time by any amount. We do not in anyway guarantee the accuracy of these charts.
If you have any questions about FX CFDs please contact us at:
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FX CFDs? 
Risk Warning: CFDs are margined products; it is possible to lose more than your initial margin deposit or credit allocation as well as any variation margin that you may be required to deposit from time to time. Therefore you should only speculate with money that you can afford to lose.