menu
About company:
The broker has been operating since 2011 and is owned by Abshire-Smith-Global Ltd, regulated by the FCA. Abshir-Smith's headquarters is located in London.
The company offers trading in commodities, stocks, options, futures, securities.
Safety
Abshire Smith is regulated by the FCA. It is one of the few regulatory bodies in the world that is trusted by most Forex traders. All client funds are held in segregated accounts with leading UK banks. Also, traders can count on compensation in the event of a broker's bankruptcy, since the company is a member of the FSCS program.
FCA regulated companies are reviewed periodically. Strict regulations ensure that traders are protected from most common broker problems, such as price manipulation, wrong price channels, and more.
The main client base of the broker is made up of traders from the Middle East, Africa and Asia. Traders from Iran and countries included in the UN sanctions list find it difficult to open a trading account with a company.
Trading platforms
Traders can work on the popular MetaTrader4 platform, as well as on the VertexFX10 and Straticator terminals.
VertexFX 10 was developed by Hybrid Solutions and resembles MT4 in functionality. Traders can use such useful tools as technical indicators, advisors.
The Straticator platform was launched in 2012. Her main direction is trading on spot markets and CFDs. Traders can create their own strategies, as well as view charts and reports.
Trading conditions
The minimum deposit required to open an account with Abshir-Smith is $ 500 on a Mini account, which is higher than most other Forex brokers. To open Mini ECN and Standard accounts, you need to deposit $ 1,000, and a VIP account is available from $ 10,000.
Abshire Smith does not charge commissions on MT4 and VertexFX10 trading and typical spreads are around 1.3 pips on EUR / USD, which is the industry average.
The amount of leverage varies depending on the type of trading asset. For Forex all accounts have a leverage of 1: 200, for all other instruments - 1: 100.
The broker is popular with traders in the Middle East. Islamic accounts are available especially for such clients, which do not contradict Sharia law.
Beginners can explore the markets and trading terminals without the risk of financial losses on the demo account.
additional services
All account holders can subscribe to the SQUAWK audio news service for traders. The channel broadcasts news in real time around the clock, including from press conferences, analysts also speak about current and future market trends.
Squawk provides traders with a competitive edge over other market participants and allows them to react faster to a market driven by news.
On the site, traders will also be able to find economic reports and an economic calendar with current quotes of financial events scheduled for several days, articles about Forex.
Analytical materials are presented by technical and fundamental analysis, Forex blog, forecasts for the week and analysis for 7 currency pairs and gold.
Ways of payment
Funding can be done easily using credit and debit cards, bank transfer and e-wallet. Withdrawal requests are usually processed within a business day. However, the time when they are credited to the client's account takes up to 7 days.
Support service
Customer questions are accepted by e-mail, telephone, at the London office and using a special feedback form on the website The broker's website is available in English and Arabic.
Pros:
competitive spreads; regulated broker; execution of orders using STP technology; wide range of accounts and trading platforms.
Minuses:
there is not enough information on the broker's website about the terms of trade.
ABSHIRESMITH is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
ABSHIRESMITH profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
.Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker or crypto exchnage.
In order to leave a review about the company, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. ABSHIRESMITH received a score of 1 of 5 on our resource.