Abshire-Smith Review |
|
| 📅 Year founded |
2011 |
| 📈 Multiple top-tier regulation |
No |
| 📍 Headquarters |
London, United Kingdom |
| 🌍 Country of regulation |
United Kingdom |
| ✅ Regulators |
FCA |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
$250 USD |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / VertexFx 10 / Straticator |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
Forex / Indices / Commodities / Equities / Bonds |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Debit and Credit Cards / Bank Wire Transfer / Skrill / Neteller / CashU |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
None |
| 💰 Account Currencies |
USD / EUR / GBP |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
ECN / STP / DMA |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
Unknown |
| 💰 Withdrawal fee |
None |
| ☎ Customer Support |
24/5 |
| 💰 Max. Leverage |
400:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
Yes, exact amount unknown |
| 💰 Spreads |
From 0.8 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
55 + |
| 🔢 Number of clients |
Unknown |
| 🥇 Instruments Offered |
100 + |
| 📙 Education |
Articles |
WHAT IS ABSHIRE-SMITH?
Abshire-Smith is a United Kingdom-based brokerage firm established in 2011, offering a wide array of financial trading services and instruments to a global client base.
As a broker regulated by the Financial Conduct Authority (FCA), it adheres to some of the most stringent financial standards and practices in the industry.
The firm provides traders with access to various markets including forex, indices, commodities, equities and bonds, facilitating a diverse trading experience.
Abshire-Smith supports trading with advanced trading platforms such as MetaTrader4, VertexFX 10 and Straticator, catering to the needs of both novice and seasoned traders.
Its mission revolves around offering reliable, transparent trading services characterised by competitive pricing, fast execution speeds and exceptional customer support.
Through its comprehensive suite of trading tools and a commitment to security, Abshire-Smith aims to empower its clients to navigate the financial markets with confidence.
INTRODUCTION
Founded in 2011 and headquartered in the United Kingdom (UK), Abshire-Smith has emerged as a noteworthy entity in the global forex and financial markets.
This UK-based brokerage was established with the aim of providing traders and investors with access to a wide range of financial instruments, including forex, indices, commodities, equities and bonds.
Abshire-Smith’s location in the UK, a leading financial hub, positions it advantageously within the strict regulatory framework provided by the FCA.
This regulatory environment is renowned for its high standards and rigorous oversight, offering traders a layer of protection and confidence that is crucial in the volatile world of financial trading.
Over the years, Abshire-Smith has cultivated a reputation for providing a stable, secure and comprehensive trading environment.
Its focus on customer service, combined with a broad portfolio of trading instruments, competitive pricing and fast execution speeds, positions it as a competitive choice for traders looking to access global markets from a regulated UK base.
PROS & CONS
PROS:
- Wide range of trading instruments.
- Advanced trading platforms.
- Competitive spreads and commissions.
- Strong regulatory compliance.
- No withdrawal and deposit fees charged by the broker.
CONS:
- Limited educational resources for beginners.
- Restricted availability in some countries.
TRADING INSTRUMENTS
The broker offers a wide range of trading instruments to its client base, ensuring that traders never run out of options in the markets. Abshire-Smith allows its traders to utilise these instruments in a variety of ways, through both CFDs and Futures.
Forex
The forex market is the cornerstone of Abshire-Smith’s offerings, allowing traders to speculate on the changing values of currencies worldwide. With access to major pairs such as EUR / USD and USD / JPY, minor pairs and even exotic pairs, traders can engage in the world’s most liquid market.
The broker offers over 55 currency pairs with leverage of up to 400:1 for certain jurisdictions.
Indices
Trading indices with Abshire-Smith provides an opportunity to speculate on the overall performance of specific sectors or the broader economy without having to select individual stocks.
Indices are excellent indicators of market trends and economic health, offering exposure to markets like the S&P 500, FTSE 100 and DAX, among others. This variety allows traders to gain exposure to different geographical regions and economic sectors.
Commodities
Commodities trading is another key aspect of Abshire-Smith’s instrument offering. The broker offers a wide range of commodities to its traders, including precious metals such as gold and silver, soft commodities and energies.
Equities
Offering access to a wide range of equities, Abshire-Smith allows traders to buy and sell shares in individual companies across various industries and countries. This access enables traders to invest in companies they believe in or use equity trading to speculate on market movements.
The broker also offers its corporate traders the opportunity to request certain stocks that are not usually available in its offerings, highlighting the broker’s commitment to its clients.
Bonds
Bond trading adds an element of fixed income to the diverse range of instruments available through Abshire-Smith. By including government and corporate bonds in its offering, the broker caters to investors looking for more stable, income-generating investments.
This comprehensive selection allows traders to explore multiple markets, employ diverse trading strategies and potentially hedge their risks by spreading investments across different asset classes.
TRADING PLATFORMS
Abshire-Smith caters to a diverse trading community by offering a selection of trading platforms, each with its strengths and suited to different trading strategies and preferences.
The inclusion of MetaTrader4 (MT4), VertexFX 10 and Straticator demonstrates the broker’s commitment to providing versatile and robust trading environments.
MetaTrader4 (MT4)
Widely regarded as the gold standard in forex and CFD trading, MT4 is renowned for its analytical capabilities, user-friendly interface and flexibility. It offers advanced charting tools, a large number of technical indicators and support for automated trading through Expert Advisors (EAs).
MT4’s popularity also means a vast online community and a wealth of custom indicators and scripts. Abshire-Smith’s integration of MT4 allows traders to benefit from fast execution speeds, one-click trading and a highly customisable trading environment.
VertexFX 10:
VertexFX 10 is a comprehensive trading platform that stands out for its all-in-one functionality. It is not just a platform for executing trades but it also incorporates advanced features for market analysis, automatic trading and personal account management.
VertexFX 10 is especially popular among professional traders and money managers for its back-office functionality, allowing seamless management of client accounts and risk. The platform supports a wide range of technical indicators, charting tools and has its scripting language for developing custom indicators and automated trading systems.
Its inclusion by Abshire-Smith highlights the broker’s aim to cater to a professional clientele that requires depth in market analysis and portfolio management.
Straticator:
Straticator is a lesser-known, yet highly sophisticated trading platform that offers a unique set of tools for both manual and algorithmic trading. It distinguishes itself with its modular design, allowing traders to tailor the trading environment to their needs.
One of the platform’s standout features is its algorithmic trading module, which enables traders to design, test and implement automated trading strategies without needing advanced programming skills.
Additionally, Straticator provides robust risk management tools, real-time news feeds and detailed analysis features, making it a strong choice for traders looking for a comprehensive and customisable trading solution.
By offering these three distinct trading platforms, Abshire-Smith demonstrates a strong commitment to catering to a broad spectrum of trading needs and preferences.
Whether a trader prefers the tried-and-tested capabilities of MT4, the all-in-one solution provided by VertexFX, or the innovative and customisable environment of Straticator, Abshire-Smith has made significant efforts to accommodate various trading styles and strategies.
ACCOUNT TYPES
Live Account (Standard and VIP)
The Live Account is designed for individual traders, regardless of their experience level. This type of account offers direct access to the forex, indices, commodities, equities and bonds markets, providing a robust platform for executing trades across a wide array of instruments.
Features of the Live Account include competitive spreads, leverage options tailored to the trader’s experience and risk tolerance, and access to all trading platforms supported by Abshire-Smith.
Traders can expect a streamlined account setup process, requiring verification of identity and residence, which is standard practice within the industry to comply with regulatory requirements.
The Live Account is suitable for retail traders looking for an entry point into various markets, offering them the flexibility to trade on a platform that matches their strategic preferences, be it MT4, VertexFX 10 or Straticator.
Traders would start on the Standard Account, where the minimum deposit of $250 USD is required. However, traders may then upgrade to the VIP Account where a minimum deposit of $15 000 USD is required, but traders are charged lower commissions and spreads and have access to dedicated account managers.
Corporate Account
The Corporate Account is tailored for institutions, corporations or high net worth individuals who require a more comprehensive trading solution.
This account type accommodates the unique needs of corporate clients, including bulk trades, specialised risk management strategies and the possibility for bespoke solutions tailored to the corporation’s trading and investment strategies.
The Corporate Account features more complex setup requirements, reflecting the higher stakes involved and the need for more stringent compliance and verification processes.
These accounts benefit from options to access trading instruments that are not usually offered by the broker, highlighting Abshire-Smith’s focus on catering to the individual needs of their corporate clients.
Abshire-Smith also makes provision on all their accounts for a swap-free / Islamic account option, to cater to clients of the Islamic faith.
HOW TO OPEN AN ACCOUNT
Opening an account with Abshire-Smith typically involves a straightforward online application process, verification of identity and residence and meeting any deposit requirements. The process is designed to be as seamless as possible, allowing traders to start trading with minimal delays.
The broker aims to complete the verification process within an hour of traders submitting their supporting documentation. Once completed, traders need to install a trading platform and deposit funds to begin trading.
DEMO ACCOUNT
The Demo account is an invaluable tool for both new and seasoned traders. It simulates the trading environment, allowing users to practice trading strategies, explore the functionality of Abshire-Smith’s platforms (MT4, VertexFX 10 and Straticator) and understand market dynamics without risking real money.
The Demo account is equipped with virtual funds, mirroring live market conditions as closely as possible to provide a realistic trading experience.
For beginners, the Demo account is a safe space to learn the basics of trading and become comfortable with the broker’s trading platforms while experienced traders can use the Demo account to test new strategies, explore different financial instruments or get acquainted with the features and tools of a new trading platform without affecting their capital.
It is also an excellent way for potential clients to evaluate Abshire-Smith’s offerings and decide whether the broker meets their needs before committing to opening a Live or Corporate Account.
SOCIAL TRADING AND COPY TRADING
Abshire-Smith does not expressly provide social or copy trading features but our research indicates that it is not disallowed either.
The various trading platforms available with this broker, specifically MT4 and VertexFx 10, does incorporate the use of EAs and other copy trading functionalities which traders may be able to use with this broker.
COMMISSIONS AND FEES
The broker does offer low spreads to its traders, starting from 0.8 pips on pairs such as the EUR / USD, meaning commission is already built into trades. The remainder of Abshire-Smith’s commission charges are unclear as the broker does not state these on their website.
After reading through their terms and conditions, it is clear that the broker does charge commissions so new traders are encouraged to contact the broker for a clear breakdown of their fee structure before opening an account with them.
The broker does not charge withdrawal or deposit fees, besides those withdrawal fees charged by third-party financial institutions. It is unclear if the broker charges an inactivity fee.
LEVERAGE
Abshire-Smith offers a standard leverage of 100:1, up to a maximum of 400:1, meaning traders have ample opportunity to increase their risk and reward on trades.
Leverage availability is dependent on jurisdiction and as the broker is regulated by the FCA, traders in the European Union only have access to leverage of up to 30:1.
WITHDRAWALS AND DEPOSITS
The broker offers a wide variety of withdrawal and deposit methods to its clients including bank wire transfers, debit / credit card deposits, Skrill, Neteller and CashU.
Abshire-Smith does not charge fees on withdrawals and deposits, except to cover charges by third-party service providers.
CUSTOMER SERVICE
Abshire-Smith offers high quality customer service for their clients around the globe. The customer service team is available 24/5, in line with the trading hours of the forex market.
Customer service is available in both English and Arabic.
SAFETY AND SECURITY
A vital aspect to consider for traders who intend to deposit their money with any broker, is the safety and security of brokers to ensure traders’ funds and safe and secure.
Abshire-Smith implements a number of features to ensure the safety of their clients’ funds, including the following:
FCA regulation
Abshire-Smith’s regulation by the Financial Conduct Authority (FCA) in the United Kingdom is a cornerstone of its safety and security framework. The FCA is one of the most respected financial regulatory bodies globally, known for its strict oversight and rigorous standards for financial conduct.
Regulation by the FCA ensures that Abshire-Smith adheres to a comprehensive set of rules designed to protect traders and ensure market integrity.
Client fund protection
One of the critical aspects of FCA regulation is the requirement for client fund segregation. This means that Abshire-Smith must keep clients’ funds in separate bank accounts from its operating funds, ensuring that client money is not used for any business-related expenses.
This segregation provides an additional layer of security, ensuring that clients’ funds are available for withdrawal regardless of the broker’s financial health.
Financial Services Compensation Scheme (FSCS)
Clients of Abshire-Smith also benefit from coverage by the Financial Services Compensation Scheme (FSCS) due to the broker’s FCA regulation. The FSCS is a UK scheme that provides a safety net to consumers if their financial services provider fails.
For financial service firms like Abshire-Smith, the FSCS can compensate eligible clients up to £85 000 per person, per firm, offering significant protection against the unlikely event of broker insolvency.
Risk management and data security
Abshire-Smith employs advanced risk management techniques and data security protocols to protect its clients. This includes the use of encryption technologies for data transmission, stringent access controls and regular audits to ensure compliance with both regulatory standards and industry best practices.
Transparent operations
FCA regulation requires Abshire-Smith to maintain transparent operations, including fair pricing, clear terms and conditions and prompt execution of trades. The broker must regularly report to the FCA, ensuring ongoing compliance and operational integrity.
This transparency builds trust with clients, knowing that they are dealing with a broker that operates under strict regulatory oversight.
PROMOTIONS
From our research, it appears that Abshire-Smith does not provide any promotions or deposit bonuses to new traders as no mention thereof is made on their website. However, the broker may provide such promotions or bonuses in the future.
RESEARCH
Research options at Abshire-Smith are slightly limited in that the broker provides a variety of news articles relating to analysis of current market conditions and trends. Additionally, there are various research tools available on the trading platforms provided by the broker, specifically on MT4.
EDUCATION
Unfortunately, educational tools are an area where the broker does fall short, as they do not offer educational tools or materials on their website. However, this is to be expected as the broker does cater more toward corporate clients and experienced traders.
GLOBAL AWARDS
Through our research, it was not evident that Abshire-Smith had won any global awards at the time of writing. However, this does not mean that the broker has not won any global awards, or that their service is not excellent, as customer reviews about this broker are positive.
SAFE OR SCAM?
The FCA is known for its strict oversight of financial services, ensuring that its regulated entities adhere to the highest standards of fairness, transparency and client protection.
Additionally, the requirement for client fund segregation under FCA rules, participation in the FSCS and adherence to strict anti-money laundering (AML) protocols, further underscore Abshire-Smith’s commitment to client security and operational integrity.
While no financial institution is immune to the risks associated with market volatility or operational challenges, the regulatory safeguards in place, combined with a transparent approach to client communications and service provision, suggest that Abshire-Smith operates with a high degree of reliability and trustworthiness.
Therefore, based on the information regarding its regulatory status and compliance practices, Abshire-Smith appears to be a safe choice for traders looking for a regulated broker in the forex and financial markets sector. However, as with any investment decision, potential clients should conduct their due diligence, considering their trading needs and risk tolerance, before opening an account.
*It must be noted, Abshire-Smith’s license (license no. 590890) with the FCA is currently expired, meaning they are not regulated by the FCA at the moment (as of 05 April 2024). Traders should wait until the license is renewed before depositing funds with this broker, whereupon this article will be updated.
CONCLUSION
Abshire-Smith is clearly a broker who provides exceptional quality and trading conditions to its clients, albeit with a focus on more experienced traders and corporate clients. The broker offers a wide range of trading instruments and trading platforms to suit the needs of all traders.
It is evident from our research that the broker specifically focuses on experienced traders and corporate clients, rather than retail traders, as is shown from their lack of educational materials available. However, customer reviews about Abshire-Smith are positive and show they are a trusted broker.
After conducting the above review, the team at Brokersuggest.com would highly recommend this broker to corporate and experienced traders, while traders new to the industry may be able to find other brokers better suited to match their trading needs.
