Abshire-Smith is a trading name of Abshire-Smith-Global Ltd, a UK based company that is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 590890. This regulation requires client funds to be held in segregated accounts and covered by the FSCS (Financial Services Compensation Scheme).
Clients can trade over 55 currency pairs, indices, commodities, shares and government securities. Abshire-Smith can provide direct market access (DMA) for forex, indices, commodities and shares. Using DMA, clients gain access to Tier 1 liquidity and aggregation venues (ECNs).
Abshire-Smith offers two proprietary trading terminals with dedicated servers and a choice of web, mobile, or downloadable platforms. The company is an announced liquidity provider for VertexFX 10. Customers can trade spot forex, indices and commodities through the VertexFX platform. Spreads are fixed and news is built in and the account can only be opened in USD. The platform can be downloaded as a desktop version and as a web-based terminal. The typical spread of the EUR/USD pair is around 1.3 pips.
Straticator platform offers clients the ability to trade equities along with a DMA / ECN / STP / NDD forex model. The multi-asset platform is available as a web-based terminal and a mobile application for iPhone, iPad and Android devices. Professional and institutional traders may connect to a company’s deep pool of liquidity through either an API or Financial Information Exchange (FIX) protocol connection.
MetaTrader4 (MT4) is also offered by Abshire-Smith with access to over 40 currency pairs, indices, commodities (metals and Energies). MT4 is available as a desktop download and a mobile application.
Accounts can be deposited by several ways, including bank deposits, credit cards, Skrill or Neteller. The minimum initial deposit amount is USD500.
Abshire-Smith is an agency only broker, sourcing liquidity from leading banks. These relationships are supposed to provide clients with competitive trading conditions, including low spreads and fast order execution. Abshire-Smith is not a market maker, the company claims. However, the ‘Risk Warning’ document informs that your losses may be unlimited, and it is possible to lose more than your initial investment. Another thing to note is that the price at which all orders can be fulfilled is not guaranteed, so your loss limit is not guaranteed either.
In conclusion, Abshire-Smith is a well-regulated pure STP broker that offers a variety of trading platforms. However, there is no protection against a negative account balance, and you may owe money to this company.