image Swissquote VISIT SWISSQUOTE image Abshire Smith VISIT ABSHIRE SMITH image City Index VISIT CITY INDEX
About

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

Abshire Smith is regulated by the Financial Conduct Authority. Abshire Smith have provided Forex, Spread betting, CFD trading services since 2011.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 7 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters Chemin de la Cretaux 33, 1196 Gland, Switzerland London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 138 46 84
Commodities Offered 7 13 26
Stocks Offered 0 0 4500
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks Yes No Yes
Penny stocks Yes No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax Yes No Yes
Nikkei Yes No Yes
ETFs No No Yes
IPO No No No
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

72% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes No No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade Yes No No
Sirix No No No
cTrader No No No
L2 Dealer No No No
PAMM No No Yes
Custom Platforms eTrading Vertex FX, Straticator DMA AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

English and Arabic

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Swissquote and Abshire Smith

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No Yes Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account No Yes No
Zero spread account No No No
VIP account No No No
Fixed spreads Yes Yes Yes
Variable spreads No Yes Yes
See account options

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access No Yes No
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 1 Lot
Max trade Varies None Varies
Min deposit 1,000 $250 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller No Yes No
Skrill No No No
Payment processing time 1 business day 1 business day 2-3 business days
Withdrawal processing time 1 business day 1 business day 2-3 business days
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
phone number 41 22 999 94 11 44 (0) 203 700 0085 0845 355 0801
Live Chat Yes Yes Yes
Website http://en.swissquote.com/ http://www.abshire-smith.com/ www.cityindex.co.uk
Forex Spreads
EUR/USD 0.80 1.80 0.50
GBP/USD 1.00 0.00 0.80
USD/JPY 0.80 0.00 0.50
AUD/USD 1 0.5
Cryptocurrency Spreads N/A 70
View all FX spreads

Losses can exceed deposits

View all FX spreads

Losses can exceed deposits

View all FX spreads

72% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 1.4 1.0
Nasdaq 100 1.8 1.0
Euro Stoxx 50 2 2.0
ASX 200 1.0
S&P 500 0.6 0.4
FTSE 100 1.6 1.0
Google 0.0015
Facebook 0.0015
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No Yes
Commission No No 0.0015
Deposit Fee No Yes Varies
Withdrawal Fee No Yes Varies
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://en.swissquote.com/. Last updated on 01/05/2019.

All information collected from http://www.abshire-smith.com/. Last updated on 01/05/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/05/2019.

Company

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

Abshire Smith is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with Abshire Smith, minimum deposits start from $500.

With Abshire Smith you can trade FX, CFD, Futures, DMA, and EQs. If you like to trade on the go, Abshire Smith have iPhone, iPad, Windows and Android apps so you can trade from anywhere on your phone.

Abshire Smith offer Metatrader 4, VertexFX 10, Straticator Try it) platforms to make your trades and support 2 different languages.

They also offer traders a demo account to give individuals a chance to refine their trading strategies.

The spreads offered by Abshire Smith for the most popular instruments are:
1.1 EUR/USD, n/a FTSE 100, 16.2 GOLD,
2.2 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including incidices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with the pros and cons about this broker.

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Swissquote or Abshire Smith?

Low spreads or offers VIP accounts ?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, Swissquote is likely a better option. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Swissquote and Abshire Smith to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Swissquote and Abshire Smith are both regulated by Financial Conduct Authority

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Swissquote and Abshire Smith will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Swissquote has been around for 20 years, while Abshire Smith have been around for 8 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Swissquote and Abshire Smith use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Swissquote or Abshire Smith in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Swissquote and Abshire Smith are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland, while Abshire Smith are based in London, UK.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Swissquote and Abshire Smith offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 pairs, compared to 46 offered by Abshire Smith. Also, if you’re looking to trade cryptocurrencies,

Both Swissquote and Abshire Smith allow you to trade commodities like gold, silver and crude oil.

Swissquote also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Swissquote and Abshire Smith offer this. Swissquote also offer the new & improved MT5 platform. Our alternative broker, City Index, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. Abshire Smith, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Swissquote does allow scalping and hedging. While Abshire Smith also allows scalping and hedging. You can trade with EAs (expert advisors) on both Swissquote and Abshire Smith.

In terms of risk management tools, neither Swissquote or Abshire Smith offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Swissquote also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Swissquote accept Payoneer while Abshire Smith accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Swissquote charges 0.80 points, while Abshire Smith charges 1.80 points. Therefore, Swissquote is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Swissquote or Abshire Smith?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Abshire Smith is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

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