To open a live account, you’ll need a minimum deposit of at least $250. Alternatively, Abshire Smith offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 551970). Abshire Smith puts all client funds in a segregated bank account and uses tier-1 banks for this. Abshire Smith has been established since 2011, and have a head office in UK.
Before we dive into some of the more detailed aspects of Abshire Smith’s spreads, fees, platforms and trading features, you may want to open Abshire Smith’s website in a new tab by clicking the button below in order to see the latest information directly from Abshire Smith.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Like most brokers, Abshire Smith takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on Abshire Smith’s website. The colour bars show how competitive Abshire Smith' spreads are in comparison to other popular brokers featured on BrokerNotes.
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Spreads are dynamic and are for informational purposes only.
As you can see, Abshire Smith 's minimum spread for trading EUR/USD is 1.3 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Abshire Smith vs. similar brokers.
If you were to buy one standard lot of EUR/USD (100k units) with Abshire Smith at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $18. Here’s a rough breakdown of the fees and how this compares against XTB & City Index .
|Abshire Smith||XTB||City Index|
|Total cost of a 100k trade:||$18.00||$2.00||$5.00|
|$16 less||$13 less|
|Visit Abshire Smith||Visit XTB||Visit City Index|
All fees/prices are for informational purposes and are subject to change.
Abshire Smith offers over 82 different instruments to trade, including over 46 currency pairs. We’ve summarised all of the different types of instruments offered by Abshire Smith below, along with the instruments offered by XTB and City Index for comparison.
|FX / Currencies||Abshire Smith||XTB||City Index|
|# of forex pairs offered||46||48||84|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||Abshire Smith||XTB||City Index|
|# of commodities offered||13||21||26|
|Index & Stock CFDs||Abshire Smith||XTB||City Index|
|# of Stocks offered||0||1606||4500|
|See Abshire Smith's Instruments||See XTB's Instruments||See City Index's Instruments|
Abshire Smith also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See Abshire Smith 's platforms
Abshire Smith allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Abshire Smith offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
As a market maker, Abshire Smith may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that Abshire Smith offers its traders on the right.
Abshire Smith support a limited number including English and Arabic.
Abshire Smith has a BrokerNotes double AA support rating because Abshire Smith offer live chat, phone, email support and less than three languages.
As Abshire Smith is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore Abshire Smith’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with Abshire Smith you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.abshire-smith.com/ on 01/04/2019.
Losses can exceed deposits