Abshire-Smith

Abshire-Smith broker is a relatively new broker that was established in 2011 for trading between different currency pairs, precious metals, oil and futures. Abshire-Smith reviews mention it has a professional team and high-quality consulting of customers. What makes this project particularly good for traders is abundance of teaching materials and the knowledgebase that explain essentials of work with brokers. The interface is present in three languages: English, Chinese and Arabic. Users can trade with 13 different commodities including currencies, precious metals, oil, but not agricultural resources.

Features & opportunities

To start working on the official website, a person should register and make a minimal $500 deposit. That seems to be a large sum, but the company explains they prefer dealing with customers who play big. Besides, only one currency account is available (the number of currencies is 22). There are four most demanded currencies: USD, JPY, EUR, and GBP. 46 currency pairs are supported – it’s the average number.  The project does not work with shares.

Deposit and withdrawal can be made via wire transfer and some payment systems CashU, Neteller, Skrill. Credit / debit plastic cards are supported, as well. Variable and fixed ($/€1,8) spreads apply. The type of spread depends on the account type:

  • Standard – fixed
  • VIP – variable
  • DMA – variable
  • Institutional – variable

Each account type has its own minimal deposit settings, while the number of minimal lots is always 0.1.

Customers’ funds are protected against fraud with the help of FSCS. Credit leveraging is provided with 1:400 ratio. It should be noted that Abshire-Smith is regulated by FCA, which means it complies with local legislation and international regulations. It supports Meta Trader 4, VertexFX, and Straticator.

Despite the fact many British trading platforms serve customers on business days and hours only, Customer support on Abshire-Smith is provided around the clock. Traders can contact assistants via phone, Skype and email. English, Chinese and Arabic languages are supported. The company welcomes users’ feedbacks: there’s a contact form on the website.

Fraud or friend?

Generally, this platform is equally great for starters and experienced traders, but aside from the knowledge base, newcomers will hardly find anything useful. The minimal deposit is high, and the fees are far from affordable, too. No demo account is provided to give the project a try. There’s no mobile application, so trade on the go is a bit inconvenient.

As for Abshire-Smith’s reputation, things aren’t clear. While some customer reviews claim it’s a bucket shop, other real user reviews about Abshire-Smith broker mention its fairness. If you surf the Net, you’ll find information about Therefore, it’s up to you to make the decision – invest only the money you can afford to lose.

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Val Kika

18/01/2019 Reply

Friends say I’m a piker, and that’s close to the truth. I prefer a softly-softly approach, so at first I use demo. I liked the interface, as it’s simple and clean, even for a new user. The rates appeared to be attractive, and the pricing correct. SO, the fist deposit was made the same day. It’s been a few days now I’m trading here, and I like the way it goes. No huge drawbacks found.

Abshire-Smith

Min. deposit

500$

Regulators

FCA FSCS

Platforms

MetaTrader 4, Vortex MT

Year of foundation

2011

Country

UK