Abshire Smith Review – Is This Online Broker Trustworthy?

Looking for a safe and trustworthy online broker can be more difficult than it seems. Each trader is as unique as their own trading strategy, so flexibility and customizability are worthy features. However, it’s never easy to find a business that you can trust with your own money – to help you out, we’ve put together this comprehensive Abshire Smith review.

About Abshire Smith

Abshire Smith is a London-based broker. It is regulated by the FCA, the Financial Conduct Authority, which is one of the main watchdogs in the world. For instance, as part of the regulatory supervision, the broker provides segregated accounts and is covered by the FSCS (Financial Services Compensation Scheme), which means that, in case of bankruptcy, the scheme will pay compensation to its clients.

Abshire Smith trading conditions allow clients to trade a wide range of assets on the global financial markets, including foreign exchange, CFDs, and stocks. To find out more about what this broker provides, check out the in-depth Abshire Smith review below.

Abshire Smith Features

Abshire Smith offers many features and quite a wide variety of trading opportunities to its clients. Below, we’ll discuss the main aspects of this broker, including its trading platforms, accounts available, education and research, and more.

Abshire Smith Trading Platforms

The trading platform is perhaps the most important aspect to consider when choosing a broker. This is because your entire trading activity will happen on this platform, so a broker that doesn’t provide the right platform for your skills and strategy will not match your needs.

Abshire Smith is compatible with three platforms for trading: Vertex FX 10, MetaTrader 4, and Straticator. VertexFX 10 supports CFD and forex trading, boasts tight spreads, more than 80 trading tools, and fast execution times with low latency. The platform is recommended if you are looking for ECN and STP trading. Finally, the broker also provides VertexFX 10 Bridge for institutional users, which is a risk management tool.

MetaTrader 4 is a global trading platform, perhaps the most popular one among forex traders. Most online brokers provide this option, but it’s important to note that MT4 is not the best choice if you have a multi-asset strategy that includes equities as well.

While VertexFX has only one base account currency, USD, MT4 allows you to open your account in AUD, GBP, EUR, and JPY as well. Thanks to the abundance of features and options that allow you to fully customize your experience, MT4 is suitable for nearly any trading strategy that involves CFDs and forex.

Finally, Abshire Smith is one of the very few brokers that provide access to the Straticator, which is a multi-asset platform. This platform may be suitable for you if you plan to trade stocks as well. You can build your own automated trading strategy (just like with MT4), it has direct market access, which lowers your costs, and there are integrated charting, pricing, and reporting. The platform is also suitable if you are looking for ECN/STP.

Abshire Smith Accounts

There are three broad categories of account types: a demo account, a live trading account, and an institutional account. You can open one of these trading accounts on the platform of your choice, and you have instant access to the financial markets.

It’s important to note that equities are only available on the Straticator platform, and institutional or VIP clients can also trade futures and global cash equities, in addition to equities, CFDs, forex, and government and public securities, which are available for all users.

Education and Research

Abshire Smith education lacks as it provides no guidance to novice traders. It has a news section that covers market news, although it has not been updated since September 2021, so there is no regular market analysis. It also links to FxStreet economic calendar, which could be a great feature for some traders, including those with a news trading strategy.

Abshire Smith Fees

One of the main drawbacks of this broker is that there is no guidance or indications related to pricing and trading costs. However, the broker does mention low fixed spreads, but these depend on market volatility and the asset you choose to trade. Hence, the best way to find out more about Abshire Smith pricing is to open a demo account first and trade your desired assets using virtual money.

In terms of payment methods, Abshire Smith does not mention if they charge any fees when depositing, but the company state that it may charge fees when withdrawing, although these are unspecified. The main methods available include bank deposit, credit/debit card, Skrill, CashU, and Neteller.

Abshire Smith Customer Service

Abshire-Smith does not provide a live chat on its website. However, they are reachable via phone, email, and they are also present on Twitter. Hence, customer service channels are considerably less varied than many other brokers online, such as CedarFX or FP Markets. Prospective clients don’t have access to a FAQ section to cover the most common questions and problems they may encounter when trying to sign up for the first time.

Who Is Abshire Smith For?

Abshire Smith inspires credibility thanks to its regulated status. Hence, it may be a good starting point for novice traders, but also more advanced users. It provides access to three trading platforms, so it is easy to choose the one that best suits your needs. This broker is also suitable for traders whose strategies are based on forex, CFDs, and equities.

Thanks to the ECN/STP trading, this broker may be a good choice if you are looking for low fees, although the broker has no clear breakdown of its trading costs. Consequently, opening a demo account first may be a great way of checking whether this broker suits your needs before committing your real cash to a live trading account.

How Does Abshire Smith Compare?

Based on this Abshire Smith review, it has some clear advantages compared to some of its competitors. For instance, you can choose from three different trading platforms – while many brokers like Ingot Brokers usually provide access only to MetaTrader 4. The broker’s trading platforms are quite varied, too, so it should be easier to pick the right one for novice or professional traders. Also, institutional clients enjoy many perks, including risk management and additional asset classes to trade.

Many brokers like GKFX offer multiple account types, unlike Abshire Smith. This could be a double-edged sword – on the one hand, you cannot choose the account type that suits you best according to your trading strategy; on the other hand, it’s beneficial for novices as it makes it easy to open an account without further ado.

Another benefit that Abshire Smith offers is that it is regulated by the FCA. Many brokers, including AximTrade, are not regulated. Trading with an unregulated broker may expose you to unnecessary risks, and the FCA regulations are some of the most stringent in the world.

Beginners and even more advanced traders may find that the lack of educational support and research is a key downside to this broker. Many other firms on the market, such as Fxview, have more expansive sections that include market insights, news, video tutorials, and even an introduction to forex basics.

FAQ: Abshire Smith

Is Abshire Smith Global Ltd a safe broker?

Abshire Smith is a regulated broker, which makes it safer than many other options available right now. However, just like with any other investment, trading with this broker comes with inherent risk, so you need to implement a sound risk management strategy, such as only trading with capital you can afford to lose.

Does the trading account include additional tools?

Unfortunately, Abshire Smith does not provide any extra perks to its clients. The trading tools available depend on your chosen platform network. Fortunately, each platform provided by Abshire Smith enables access to a sound trading package, so you can fully customize your experience to match any trading strategy, including automated ones.

How do Abshire Smith’s spreads work?

The broker boasts STP/ECN trading. Unlike a market maker like eToro, Abshire Smith routes your trades directly to their liquidity providers (without using a dealing desk), which means you will enjoy quicker and usually cheaper trades since the trades are executed at the rate provided by the liquidity provider. Theoretically, this should ensure the lowest spreads available, although the broker has no full breakdown of its trading costs.  

Does Abshire Smith have a mobile app?

Yes, all three platforms are available on mobile devices. Depending on which platform you choose, you can download the relevant mobile app on your portable device. Also, they are available as downloadable software or as browser-based platforms.

Final Verdict: Abshire Smith Review

In this Abshire Smith review, we have discussed some of the main features of this broker. On the good side, the STP/ECN trading models guarantee some of the lowest trading costs available right now, and the platforms provide direct market access; you can choose from three popular trading platforms, and the broker is regulated by the FCA, which benefits all retail investor accounts. On the bad side, the cost structure is not as transparent as other forex brokers, there is no beginner information on how to start trading, and you will need to find your own third-party sources for market research, based on your investment objectives.