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Abshire Smith Review

  • Regulated by: Financial Conduct Authority
  • Safety: segregates client funds
  • Trust Rating: B
Open Abshire Smith's Website

Losses can exceed deposits

Overview

Abshire Smith is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies, commodities and bonds.

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.

Open a demo account Visit Abshire Smith

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

Abshire Smith screenshot

PROS

  • Segeregates client funds
  • Established in 2011
  • Regulated by Financial Conduct Authority
  • Min. deposit from $250

CONS

What are Abshire Smith's spreads & fees?

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.

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

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.

See all Spreads
Losses can exceed deposits

How much does Abshire Smith charge to trade 1 lot of EUR/USD?

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 $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index.

Abshire Smith XTB City Index
Spread from: N/A $ 2.00 $ 5.00
Typical overnight fee: N/A $ 7.94 $ 20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 9.94 $ 25.6
Visit Abshire Smith Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Losses can exceed deposits

General Fees

  • Abshire Smith doesn’t charge inactivity fees*
  • Abshire Smith withdrawal fees varies on payment method

Commissions

  • Abshire Smith doesn’t charge commission on CFD shares

What can you trade with Abshire Smith?

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
Cryptocurrencies No Yes Yes
Commodity CFDs Abshire Smith XTB City Index
# of commodities offered 13 21 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs Abshire Smith XTB City Index
# of Stocks offered 0 1606 4500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
See Abshire Smith's InstrumentsSee XTB's InstrumentsSee City Index's Instruments
Losses can exceed deposits

What’s the Abshire Smith trading experience like?

1) Platforms and apps

Abshire Smith offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Abshire Smith also offer their custom Vertex FX platform.

Abshire Smith Screenshot See Abshire Smith 's Platforms

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
Losses can exceed deposits

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

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 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.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Neteller

3) Client support

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.

4) What you’ll need to open an account with Abshire Smith

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:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

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 August 23, 2018.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.