A cost-effective and highly efficient electrolyte with a wide electrochemical window, high reversibility of Mg plating/stripping, non-/low-corrosivity, good compatibility with cathode materials, and tolerance of trace water and impurity is crucial for the commercialization of rechargeable magnesium batteries. In this work, a novel boron-centered non-nucleophilic electrolyte that meets all the above requirements is prepared via a facile and economic approach from the raw materials B(TFE)3/MgCl2/CrCl3/Mg (BMCM). The as-prepared BMCM electrolyte is mainly composed of tetracoordinated anions [B(TFE)4]- and solvated cations [Mg2(μ-Cl)2(DME)4]2+. The BMCM electrolyte demonstrates attractive electrochemical performance, with a low overpotential (∼139 mV), a high Coulombic efficiency (∼97%), a high anodic stability (∼3.5 V vs Mg/Mg2+), and a long-term (more than 500 h) cycling stability. Moreover, BMCM shows good compatibility with the CuS cathode material. The CuS|BMCM|Mg full cell delivers a discharge specific capacity of 231 mAh g-1 (at 56 mA g-1), which can retain ∼88% even after 100 cycles. Importantly, the BMCM electrolyte is cost-effective and tolerant of trace impurity and water, which has great potential to be commercialized. This work is expected to promote the development of practical rechargeable magnesium batteries.