If you’ve noticed that something is off with Abshire Smith, you’re onto something. This broker was well-established in the UK before its license got revoked.
Thus, Abshire Smith isn’t your good-old regulated and safe provider anymore. Let’s look at the facts and what the broker has to offer in the Abshire Smith Review.
To answer the question, yes. But let’s take it back a few years to explain why. Namely, Abshire-Smith Global LTD was established in 2011 in London. The company was registered with the UK’s Financial Conduct Authority (FCA) and everything was great.
However, due to Brexit and changes in regulation, Abshire Smith CEO Adam Neal announced in early 2019 that the company would shut down its operations in the UK.
Neal cited the complex regulation changes between the FCA and the European Securities and Markets Authority (ESMA) as reasons for winding down Abshire Smith’s operations in the UK.
Moreover, the company seemingly had a problematic history of complying with Company House’s rules as the registrar issued three notices for compulsory strike-off to Abshire Smith, threatening to dissolve the company.
The Abshire Smith regulation was ended in 2021 by the FCA. On the regulator’s website, it is clearly stated that this company is no longer authorized to provide services in the UK.
Abshire Smith is a UK-based broker whose FCA license got revoked in 2021. The company has a problematic corporate past. Abshire Smith has defrauded traders from the UK, the US, South Africa, and Turkey.
There you go, the company is not regulated anymore yet still provides services. The Abshire Smith reputation was once legit in the UK but now it seems that the broker has taken a shady turn.
Without regulation, Abshire Smith is a dangerous provider, which can be seen in the complaints. It’s better to stick to licensed brokers, ones that won’t try to defraud you.
Abshire Smith is not authorized to operate in the UK, we got that out of the way. However, the broker is still active in that country, as well as in several other ones:
We’ve seen complaints against the broker from Egyptian and New Zealand traders too. Therefore, Abshire Smith is slowly turning into an offshore entity and we all know the risks associated with such a brokerage.
Abshire Smith is active on Twitter so social media is the tool the broker uses to find victims. But it might not be limited only to platforms such as Twitter, Facebook, Instagram, etc.
Scam brokers often call traders on the phone to present their deceitful offers. Either that, or they keep sending emails.
As for other mediums used to find victims, scammers also like WhatsApp, Telegram, Tinder, LinkedIn, etc. We’ve also seen scammers hire agents to run shady online marketing campaigns for them.
Abshire Smith really was up to no good. We found a couple of complaints against the broker. Traders experienced withdrawal issues and illogical “losses”, which comes as no surprise since that’s how brokers usually defraud clients. Here’s a snippet of one trader’s complaint:
I think it is fair to warn everyone that with ActiveTrades you make a profit you will find your profits canceled and you will not be able to withdraw what you have earned…
Abshire Smith offers three different trading platforms – MetaTrader 4, VertexFX 10, and Straticator.
MT4 is the most famous of the three and a household name in the world of trading. Designed by MetaQuotes, MT4 offers unique features such as automated trading, live market reports, instant execution, etc. Abshire Smith offers a desktop, Android and iOS version of MT4 for FX and CFD trading.
VertexFX 10 is also used for Forex and CFD trading. In addition to the desktop version, this platform also has a web version. VertexFX 10 offers over 85 technical analysis tools, integrated news & built-in charting, and tight spreads & deep liquidity.
Lastly, Abshire Smith included Straticator. It offers spot FX and CFD trading (Indices, Commodities), equity trading, multiple order types, integrated pricing, charting, reporting, etc. Straticator is available online and as a mobile app (Android & iOS).
According to Abshire Smith’s website, the broker offers the following trading assets:
Abshire Smith allows traders to choose between fixed and raw spreads. For the benchmark EUR/USD pair, the fixed spread is around 0.8 pips and Abshire Smith doesn’t charge any commissions.
The crude oil spread is 3 pips while the spread for gold is 30 pips. Abshire Smith does not charge commissions on CFD trading.
From what we saw on the website, Abshire Smith offers a basic live account for each of its three trading platforms that costs a minimum of 250 $.
During the period in which the broker was regulated by the FCA, it was obliged to limit leverage to 1:30. Keep in mind that Abshire Smith might have increased its leverage cap now that the broker is no longer regulated. There’s also an Islamic account available for Shariah-compliant trading.
Yes. Abshire Smith included a free demo account for each trading platform. You can use this demo account to practice without risking all of your funds.
However, if you decide to switch to a live account, you must be extremely careful, especially considering Abshire Smith’s unregulated status.
Abshire Smith offers the following funding methods:
The minimum deposit is 250 $. As for the Abshire Smith withdrawal policy, the broker says it may charge fees to cover the costs of making payments.
However, Abshire Smith didn’t specify the deposit and withdrawal fees. At least these funding methods allow for a chargeback or recall.
Abshire Smith’s website info is scarce, i.e. not transparent enough. To make matters worse, the broker lost its trading license.
If Abshire Smith violated any terms and conditions, please let us know. We will report the broker to the authorities.
If you lost money to this financial swindler, we could help you get it back. Global Fraud Protection has experts that specialize in bank chargebacks and recalls but it’s important that you contact us as soon as possible.
If this broker steals your money, start the chargeback process. Use Online Chat to book your free consultation with us and find out what the next step is.
We don’t recommend it. Absihre Smith lost its trading license. If you are having problems with this broker, call us.
Yes. Absihre Smith offers a free demo account for each of its three trading platforms.
Yes. Abshire Smith included Android and iOS mobile app versions of MT4 and Straticator.
Yes, all three platforms that Abshire Smith offers are great. The issue is that the broker is not regulated anymore.
We don’t recommend it. Absihre Smith lost its trading license. If you are having problems with this broker, call us.
Yes. Absihre Smith offers a free demo account for each of its three trading platforms.
Yes. Abshire Smith included Android and iOS mobile app versions of MT4 and Straticator.
Yes, all three platforms that Abshire Smith offers are great. The issue is that the broker is not regulated anymore.
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