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ABSHIRESMITH

ABSHIRESMITH

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 brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker ABSHIRESMITH makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for 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 virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. 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 brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of ABSHIRESMITH ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about ABSHIRESMITH on the website 4ex.review ?

    In order to leave a review about the broker, 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.

  • 3. Can we assume the broker ABSHIRESMITH decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers 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 broker. ABSHIRESMITH received a score of 1 of 5 on our resource.

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