Abshire Smith at a glance
| 🔎 Broker's Name | Abshire Smith |
| 📍 Headquartered | London, United Kingdom, Wales |
| 📅 Year Founded | 2011 |
| ⚖️ Regulating Authorities | FCA |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:30 under European FCA regulation, otherwise 1:200 |
| 💰 Minimum Deposit | 500 USD |
| 💳 Deposit Options | Wire transfer, Neteller, Skrill, CashU |
| 💳 Withdrawal Options | Wire transfer, Neteller, Skrill, CashU |
| 💻 Platform Types | Vertex FX 10, MetaTrader4 and Stratacator |
| 📱 OS Compatibility | Mobile, web, iPhone, iPad |
| 👨💼 Languages supported on Website | English and Arabic |
| 👥 Customer Support Languages | English and Arabic |
| 📆 Customer Service Hours | 24 hours 5 days per week |
| 👉 Open a account | Click Here |
Min Deposit
USD 250
Regulators
FCA
Trading Platform
MT4, Vertex FX10, Statacator
Crypto
No
Total Pairs
40+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our Abshire Smith Account Types below.
Abshire Smith Account Types – 8 key points quick overview:
Overview- Abshire Smith Account Types
- Abshire Smith Account Features
- Abshire Smith Demo accounts
- Abshire Smith Islamic Account
- Abshire Smith Pros and Cons
- Conclusion
- Frequently Asked Questions
Here is an overview of the Abshire Smith Account types as well as the treading features and benefits offered for each account.
Overview
Abshire Smith is a forex broker company with its headquarters in the United Kingdom.
The broker provides traders with access to platforms with which they can buy and sell foreign currencies. Retail traders can gain access to the 24-hour currency market for speculation purposes with the broker.
The company was founded in 2011 by a group of professional financial market experts with a vast combined wealth of experience.
Due to their existing practical knowledge, Abshire Smith understands the needs of experienced traders, and has made use of this knowledge as a guideline to not only provide for high frequency traders but also the low frequency retail traders as well.
Therefore, Abshire Smith serves several types of investors all over the mentioned areas and their trading solutions are tailored according to those clients’ needs, whether they may be retail, professional or institutional traders.
Abshire Smith prides itself in supporting all faiths and makes provision for Islamic trading with many of its features adding advantages for traders of the Islamic faith.
Abshire Smith Account Types
Abshire Smith offers traders a Mini Account, ECN Account, Standard Account and VIP Account, as well as the option to open Corporate Accounts and an Islamic Account.
The minimum mandatory deposit to open a live trading account at Abshire-Smith is $500 for a Mini Account, which is higher than most other Forex brokers. This relatively higher initial deposit requirement may deter small retail traders from opening an account with the company.
To open either the ECN account or the standard trading account a $1 000 initial deposit is needed. VIP accounts can be opened with deposits larger than $10 000.
Abshire Smith Account Features
Abshire Smith offers traders the option of live trading accounts for each of its 3 trading platforms to meet unique needs, a free demo for clients to practice, a corporate account and an Islamic Account.
The broker connects its traders to a global liquidity pool to put them in a position to offer outstanding price feeds and tight spreads to create a true ECN trading environment.
Abshire-Smith accounts have the following features:
Live Trading Account
️ Traders use this account to start with actual trading. Once a trader is confident and has proved his skills by successfully trading with this account, he can also be promoted to VIP client status.
️ Every account can be used with a maximum leverage ratio of 1:200 for Forex and 1:100 for other assets such as commodities and precious metals.
️ Abshire-Smith spreads on these accounts start from 0.7 pips for the VIP account to a minimum of 1.8 pips, excluding commission, for a Mini account. These spreads are considered as highly competitive in the industry and are one of the best reasons to trade with this broker.
A Corporate Account
This type of account is also known as an Institutional Account and can be opened with Abshire Smith. The owners will need to provide some supporting documentation to open a corporate account since it is meant for institutions and business entities only. Such an account can usually be validated and activated within 24 hours.
Islamic Accounts
Abshire Smith offers Muslim traders who follow the Sharia law the option of an Islamic Account.
These types of accounts are Shariah compliant with no Swaps charged for overnight positions. Since a Swap (the fee a trader pays for the service, the broker is providing) can be seen as a kind of interest, it is forbidden for Muslim traders.
Sharia law forbids certain financial transactions, mainly those that accumulate interest; therefore, brokers offer their Islamic finance investors this account type. It is like a regular account, but usually subjected to some special fees instead of interest.
Abshire Smith Demo accounts
Abshire Smith does offer a demo account. New traders that would like to acquaint themselves with this broker’s trading platforms, can first try out this risk-free demo trading account. This account simulates the live environment for potential traders to test their trading strategies first, without any financial risks involved.
Traders can use the demo trading account with the same choice of trading platforms, endure no risk of monetary loss since practice or virtual funds are used, and work with live market prices to use the opportunity to rehearse new strategies, achieve market awareness and understand or get to grips with a specific trading platform.
Abshire Smith Islamic Account
The purpose of an Islamic Account is to cater specifically for Muslim traders who strictly follow the Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, because it is seen as wasteful or exploitive.
Overnight fees are charged when traders hold positions open for longer after the trading day has concluded and the swap free account allows exclusion of such fees, or interest, should Muslim traders hold positions open for longer.
Islamic traders making use of Abshire Smith must, however, take note that there may be certain features indicated on the Islamic account which can differ from the ordinary account such as minimum deposit, spreads, and commissions.
Traders who are interested in registering for an Islamic account must contact Abshire Smith’ customer support to verify the details of the account as conditions may change from time to time.
The Abshire Smith Islamic Account offers traders with the following features:
️ Spreads depending on the financial instrument, time of day, and other factors.
️ No interest charged on contracts which are held for longer than 24-hours with a consistent zero-rollover interest.
️ No additional rollover commissions when contracts are held for longer than 24-hours.
️ Traders are offered with the same access and tools as the other accounts.
Min Deposit
USD 250
Regulators
FCA
Trading Platform
MT4, Vertex FX10, Statacator
Crypto
No
Total Pairs
40+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Abshire Smith Pros and Cons
| ✔️ Pros | ❌ Cons |
| Account options include Islamic Account | Does charge deposit fees |
| Allows scalping and hedging | Does not offer VPS |
| Demo accounts available | Fairly high minimum deposit |
| Offers STP | Limited account types offered |
| Regulated by Financial Conduct Authority | |
| Regulated by Financial Conduct Authority | |
| Segregated client funds used | |
| Used by over 10 000 traders | |
| Was already established in 2011 |
Conclusion
Abshire Smith offers traders a Mini Account, ECN Account, Standard Account and VIP Account, as well as the option to open Corporate Accounts and an Islamic Account. Ashire Smith does not charge deposit fees on any of their accounts.
Abshire Smith Account Types vary according to what traders require. Due to their existing practical knowledge, Abshire Smith understands the needs of experienced traders, and has made use of this knowledge as a guideline to not only provide for high frequency traders but also the low frequency retail traders as well.
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Frequently Asked Questions
What instruments can I trade with Abshire Smith?
You can trade 80+ instruments across these classes: Forex, CFD, Precious metals, Soft commodities, Futures, Equities and Securities.
Does Abshire Smith offer leverage?
Yes, the broker offers a leverage ratio of 1:30 under European FCA regulation
Which live trading accounts does Abshire Smith offer?
- Mini Account
- Standard Live Trading Account
- VIP Account
- Corporate Account
- Islamic Accounts
What are the base account currencies with Abshire Smith?
Base account currencies from this broker is USD, GBP and EUR
Does Abshire Smith offer the option of an Islamic Account?
Yes, an Islamic account can be opened.
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