Abshire-Smith Forex Broker

Abshire Smith Forex Broker - Complete Information Guide

1. Company Overview

　　Abshire Smith, established in 2011, is a London-based brokerage firm operating under the name Abshire Smith Global Ltd. The company is privately held and has grown rapidly since its inception, offering a range of financial services primarily in the foreign exchange (forex) market. With its headquarters located in London, UK, Abshire Smith has positioned itself as a significant player in the forex trading landscape.

　　The primary markets served by Abshire Smith include retail forex traders, institutional clients, and professional traders, focusing on providing them with access to various financial instruments. Over the years, the company has achieved several milestones, including the establishment of multiple trading platforms and the expansion of its product offerings.

　　Abshire Smith operates on a business model that encompasses both retail forex trading and institutional services, including direct market access (DMA) and liquidity provision. This dual approach allows them to cater to a diverse clientele, providing tailored solutions that meet the specific needs of different trading strategies.

2. Regulatory and Compliance Information

　　Abshire Smith was initially regulated by the Financial Conduct Authority (FCA) in the UK, with the regulatory number 590890. However, it is important to note that as of 2021, the FCA revoked Abshire Smith's authorization to provide regulated services, which means the broker is currently operating without regulation.

　　The lack of a valid regulatory license raises concerns about the safety of client funds. Historically, Abshire Smith maintained a policy of client fund segregation, ensuring that client deposits were held in separate accounts from the companys operational funds. This practice is crucial for protecting clients in the event of financial difficulties.

　　Additionally, Abshire Smith was a participant in the Financial Services Compensation Scheme (FSCS), which provided compensation for eligible clients up to £50,000 in case of insolvency. The broker also adhered to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are standard practices in the financial industry to prevent fraud and ensure transparency.

3. Trading Products and Services

　　Abshire Smith offers a diverse range of trading products, primarily focusing on forex and Contracts for Difference (CFDs). The broker provides access to over 55 currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on global currency fluctuations.

　　In addition to forex, Abshire Smith offers CFDs on various asset classes, including:

• Indices: Major global indices like the S&P 500 and FTSE 100.
• Commodities: Trading in precious metals such as gold and silver, as well as energy products like oil.
• Equities: Access to stocks from leading global companies.
• Futures: Opportunities to trade future contracts across various markets.

　　Abshire Smith frequently updates its product offerings to adapt to market demands and client preferences. The broker also provides retail trading services and has options for institutional clients seeking advanced trading solutions.

4. Trading Platforms and Technology

　　Abshire Smith supports several trading platforms, including the widely recognized MetaTrader 4 (MT4), which is popular among forex traders for its user-friendly interface and advanced charting capabilities. The broker also offers its proprietary platform, VertexFX 10, which features low latency and fast execution speeds.

　　Additionally, Abshire Smith provides access to the St Raticator platform, designed for multi-asset trading, which allows traders to engage in spot forex and CFD trading seamlessly. Each platform is available for both desktop and mobile devices, catering to traders who prefer to trade on-the-go.

　　The broker employs an ECN (Electronic Communication Network) and STP (Straight Through Processing) execution model, ensuring that trades are routed directly to liquidity providers without interference. This model enhances transparency and provides competitive pricing for traders.

　　API access is also supported, allowing algorithmic trading and automated strategies to be implemented effectively.

5. Account Types and Trading Conditions

　　Abshire Smith offers various account types to accommodate different trading needs:

• Standard Account: Requires a minimum deposit of $500, with spreads starting from 1.3 pips and no commissions on trades.
• VIP Account: Designed for high-volume traders, this account requires a higher minimum deposit of $15,000 and offers enhanced trading conditions.
• Islamic Account: For traders adhering to Sharia law, Abshire Smith provides swap-free accounts that comply with Islamic principles.
• Demo Account: Available for all traders, allowing them to practice trading without financial risk.

　　The broker offers leverage of up to 1:200 for forex trading, enabling traders to amplify their positions. The minimum trade size is 0.01 lots, providing flexibility for both novice and experienced traders. Overnight fees apply, depending on the account type and trading conditions.

6. Fund Management

　　Abshire Smith supports multiple deposit methods, including:

• Bank Transfers
• Credit/Debit Cards
• E-wallets: Such as Skrill, Neteller, and Cashu.

　　The minimum deposit requirement varies by account type, with the standard account requiring $500. Deposits are typically processed instantly, except for bank transfers, which may take 1-3 business days.

　　Withdrawal methods mirror the deposit options, and while Abshire Smith does not charge fees for deposits or withdrawals, clients may incur fees from their payment providers. Withdrawals are processed within 24 hours, but it may take up to 7 business days for funds to appear in the clients account, depending on the payment method used.

7. Customer Support and Educational Resources

　　Abshire Smith offers customer support through various channels, including:

• Email
• Phone
• Callback requests via their website.

　　Support is available in English and Arabic, catering to a diverse client base. However, the broker does not provide a live chat option, which may limit immediate assistance.

　　Educational resources are somewhat limited, with no structured training programs or webinars available. Traders can access market news and an economic calendar, but comprehensive educational materials are lacking.

8. Regional Coverage and Restrictions

　　Abshire Smith primarily serves clients in regions such as the Middle East, Africa, and Asia. However, it does not accept clients from the United States or Iran, reflecting compliance with international regulations and restrictions.

　　The broker has a presence in various countries, but it is crucial for potential clients to verify their eligibility before opening an account, especially given the changing regulatory landscape.

　　In conclusion, Abshire Smith has established itself as a broker with a range of trading products and platforms, although its unregulated status raises concerns about client safety. Traders should exercise caution and conduct thorough research before engaging with the abshire smith broker.