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Abshire-Smith Abshire-Smith Review

Abshire-Smith Review | Abshire-Smith forex broker

RATING: 3.3 / 0 REVIEWS Abshire-Smith
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Trading Accounts

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage 

Average Spreads (& Commission)

Trading platform 

Standard

$500

0.01

1:200

1.3 pips

MT4, VertexFX10

DMA

$1000

0.1

1:200

Raw spreads + negotiable commission

Straticator

 

Clients of Abshire-Smith are offered two basic account types and 3 trading platforms. Although the broker claims to offer fixed spreads with STP execution on MT4, VertexFX10, when we tried out its demo MT4 platform, it turned out that spreads are variable.

 

Swap-free (Islamic) accounts are also available with this broker.

 

Keep in mind that Abshire-Smith does not accept U.S. or Iranian residents as clients.

 

The Company. Security of Funds

 

Company

Country

Regulation

Abshire-Smith Global Ltd.

UK

FCA

 

Established in 2011, Abshire-Smith is a London based broker, offering trading in more than 55 major currency pairs, Contracts-for-difference (CFD), futures, equities, and securities on a selection of platforms. It also provides institutional liquidity through bridges, API & FIX connections.


The company behind the brand, Abshire-Smith Global Ltd, is authorised and regulated by the Financial Conduct Authority.

 

All FCA-regulated companies are required to observe the stringent rules and procedures set by the UK financial watchdog: they must regularly report to FCA, keep all client money separated from the company`s own funds into segregated accounts, and to hold net tangible assets amounting to at least €730 000 at all times, among other obligations.

 

In addition, what is probably most important regarding the safety of funds invested in FCA-regulated companies is the coverage provided by Financial Services Compensation Scheme (FSCS). In the event of a shortfall, FSCS is able to cover your investment loss (or the funds held in your trading account) up to a maximum of £50,000.

 

Trading Conditions

 

Minimum Initial Deposit

With Abshire-Smith one can open an account with a minimum of $500, which is typical for UK brokerages. Leading brokerage FxPro requires the same minimum initial deposit. 

 

Average spreads & Commissions

Abshire-Smith offers commission free-trading on MT4 and VertexFX10 and its typical spreads amount to around 1.3 pips on EUR/USD, which is average. Of course, other UK-based brokerages offer better spreads – for instance, IG’s average spread for this pair is 0.8 pips and no commission applies. For further information, you may look up real-time spreads of 15 leading brokers may be viewed here.

 

Leverage

The maximum leverage rates at Abshire-Smith are up to 1:200. Such leverage is considered standard, although a number of brokers offer leverage equal to or exceeding 1:500.

 

High leverage may multiply your profits on a small deposit, but it can also lead to heavy losses, exceeding initial investments. That is why limitations on leverage rates are set in some jurisdictions, and most recently the FCA also proposed maximum leverage levels offered by brokerages to be set to 1:50.

 

Trading Platforms

 

Apart from the the industry’s standard MT4 platform, Abshire-Smith VertexFX10 and Straticator.

 

VertexFX 10 is developed by Hybrid-Solutions and comes available as desktop, web and mobile versions. It is an easy to use customizable platform that slightly resembles the MT4. VertexFX 10 features a number of useful tools, such as integrated news feed, aggregated tradable prices, эьисдкя technical indicators, automated trading, etc. Besides, traders with programming skills can use the API for the platform to develop plugins on the VTL 10 script language. 

 

Straticator is a multi-asset trading platform with direct market access (DMA), developed as the complete trading suite, with access via web GUI, mobile or FIX/API. The platform offers Integrated pricing, charting and reporting allows clients to easily build their own robot strategies.

As regards the MT4, it is globally popular for its innovative, on the go trading capabilities, ease of use, variety of built-in indicators, advanced charting tools, automated trade options (EAs) and extensive back-testing environment. 

 

Methods of Payment

 

This broker allows its clients to make deposits to and withdrawals from their accounts using credit and debit cards, bank wires and a choice of several online e-wallet programs such as Skrill, Neteller, and CashU.

 

Conclusion

 

Abshire-Smith is a reliable FCA-regulated broker that offers wide range of financial assets for trade on three trading platforms under competitive conditions and pure STP execution. To sum up the above:

                                                                                                                                                              

Pros Cons 
Strong regulation Insufficient info on DMA trading conditions
Competitive spreads  
Pure STP execution  
A selection of platforms offered, MT4 available  

 

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Traders` reviews for Abshire-Smith

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Price feed

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