Review of Abshire-Smith Company
On the main page of its official website, broker Abshire-Smith emphasizes that the main advantage of choosing their services lies in their location in the center of London. It is necessary to analyze how important it is to have the main office in the capital of the UK. Can this justify choosing this broker? Or is behind the glamor of London’s atmosphere a simple representative of the financial industry from the outsider circles of British society?
Information about Abshire-Smith Broker
The company Abshire-Smith-Global Ltd was founded in 2011, and it is this company that owns the registration of the named broker. The main office of the company is located in the center of London City. However, on Google Maps, it can be seen that the indicated address (20 Ropemaker Street, London) is currently an empty office building surrounded by construction scaffolding. Perhaps this space is undergoing reconstruction. Nevertheless, the lack of any markings on the facade of the building raises some concerns.
At the same time, Abshire-Smith claims that working with them is safe because they have a license from the prestigious British regulator, the Financial Conduct Authority (FCA). However, confirmation of this fact cannot be found on the official website. No information about the certificate is found not only on the Abshire-Smith website but also on the regulator’s website.
It is also unable to confirm that client accounts are protected by the financial services compensation scheme, as the FSCS website does not contain information about Abshire-Smith.
Stay tuned for the latest news.
Abshire-Smith Official Website
The broker’s website design is done in a pastel color scheme. The interface is intuitive and convenient. The main page presents the main advantages of partnering with the company, as well as a list of available basic assets and current news.
The abshire-smith.com resource is available in English and Arabic. The presence of a second language requires justification — this is likely due to the broker’s orientation towards clients from the Middle East countries, which have significant financial influence on global markets.
Abshire-Smith offers swap-free accounts, in line with Sharia principles. Obviously, the broker is targeting an audience from the specified region, where these values are of great importance.
Be attentive and do not hesitate to clarify the information of interest to you independently.
Abshire-Smith Demo Account: Advantages and Disadvantages
Abshire-Smith provides the opportunity to test your skills on a demo account without risks and for free. However, the essence of the problem lies in the fact that the conditions of the demo version do not match the real ones. Despite the broker’s claims to provide real market prices, the trader operates in a simulated environment. A novice trader can improve their strategy on a demo account, but when moving to real trading, they face tangible risks. The workflow on real markets is significantly more unpredictable and complex compared to the controlled environment of demo accounts.
The advantage of the demo account is the opportunity to familiarize yourself with the interface of trading platforms and get used to the layout of control elements. However, integration with the real market requires pre-funding the account.
Trading Platforms and Conditions
Abshire-Smith offers its clients 3 trading platforms on which trading operations with currency pairs and CFDs can be carried out. Each of them offers various features and conditions:
- VertexFX 10. The platform is installed on a computer or available in a web version. It offers trading in more than 35 currency pairs and CFDs on various assets. Equipped with built-in technical analysis tools, news feeds, and charts. Accounts without swaps are available, and opening them is done in dollars.
- MetaTrader 4. Available for computers and mobile devices. It offers trading in over 40 currency pairs and CFDs on various assets. Accounts can be opened in US dollars, British pounds, euros, yen, and Australian dollars. The ability to trade standard, mini, and micro lots.
- Straticator. This is a platform for trading stocks according to DMA/ECN/STP/NDD FX models. It launches through a browser or mobile device.
Abshire-Smith clients have access to only one type of real account, which needs to be funded with at least 500 euros. This is a significant amount that raises questions about accessibility for beginners and restricts individuals with limited financial capabilities. The lack of educational materials on the website also indicates the broker’s reluctance to interact with novice traders.
It is worth noting the presence of an economic events calendar at the broker and a variety of account funding methods:
- bank transfer,
- debit or credit card,
- Skrill,
- CashU,
- Neteller.
Withdrawal operations are carried out using the method used to fund the account. To withdraw funds, you need to manually fill out a special form on the broker’s website and sign it. The money is returned to the account within a period of up to 7 business days. Abshire-Smith claims that funds usually arrive in the account within one working day from the time the funds withdrawal form is filled out, from 9 a.m. to 5 p.m. UK time.
Stay tuned for the latest news.
Technical Support
Abshire-Smith clients can contact customer support only through an online form or by email. However, according to client reviews, filling out the form and sending emails remain unanswered. In case of problematic situations, clients do not receive feedback on their inquiries. Customer dissatisfaction is reflected in a multitude of negative reviews about the company on various rating platforms and trading forums.
Conclusion
Abshire-Smith has been in the market for 8 years, indicating the company’s long-term activity. However, overall, the broker does not inspire much trust due to questionable licenses, high initial deposits, unclear trading conditions, and poor quality of support. The company can be rated at no more than 4 out of 10. A small bonus for the variety of trading platforms and the presence of MetaTrader 4. However, this is not enough to recommend this broker. Be vigilant and cautious when choosing a partner for trading financial instruments!
Trading with Abshire-Smith was a disastrous experience for me. From the moment I signed up, I was plagued with connectivity issues and the interface was hideously complicated. Their customer service was lamentably poor. I found them to be woefully unresponsive to my complaints and they took an age to reply to email enquiries. The broker also lacked transparency, with hidden costs and charges that were not mentioned at sign-up. My withdrawal requests were met with unnecessary, time-consuming bureaucracy. Overall, Abshire-Smith lured me in with promises of high returns, only to disappoint with their subpar performance and unprofessional attitude. Complete waste of time and money. I would strongly advise against getting involved with this broker.
I had an extremely disappointing experience with the broker Abshire-Smith. For starters, the customer service was appalling: they were unresponsive to my inquiries and offered very little assistance. More critically, the trading platform was riddled with technical issues, and many a time my trades were delayed or even cancelled, resulting in significant losses. They tout transparency, but my experience showed the exact opposite. I felt constantly in the dark about the status of my investments. Not to mention, there were hidden fees that were not initially disclosed to me. Overall, my experience with Abshire-Smith was not just unsatisfactory. It left me suspecting underhanded practises and foul play. I wouldn’t wish it on anyone.