Is foreign exchange and CFD trading risky?
Yes trading foreign exchange on margin, or contracts-for-difference (CFDs) are high risk investments and isn’t suitable for all investors.
Can I have a swap-free trading account on VertexFX 10?
Yes, we offer swap-free (Sharia compliant) trading accounts on the VertexFX 10 trading platform.
Please view for further information on the swap-free account conditions.
Are you a market maker?
No, Abshire-Smith is not a market maker.
Abshire-Smith Global Ltd is authorised and regulated by the Financial Conduct Authority as a matched principle. Operating an agency only business model means that Abshire-Smith is unable to hold proprietary positions, or take exposure to the markets.
This means that we operate an STP trading model and do not run a “B Book” or make a market, to remove the conflict of interest between ourselves and our clients. We rigorously vet all of our counterparties, to clear 100% of our trades through UK FCA regulated counterparties.
How are you able to offer fixed spreads?
We provide fixed spreads on both MetaTrader 4 and VertexFX 10, by offering STP access to liquidity providers who are willing to stream us fixed tight spreads. Due to the volume of trades that our clients make each day, we are able to leverage this to benefit our clients who prefer spreads that don’t change.
Some clients like knowing what the bid/offer spread will be when they open and close a trade, which stay the same from when the markets open in Asia on Sunday, until the markets close on Friday evening.
(If you prefer dynamic (variable) spreads, then we’d recommend our Straticator trading platform)
Do my trades go onto an exchange?
Trades are OTC (over-the-counter) and not exchange traded products. This is the same for FX and CFD products on VertexFX 10.
Can I take delivery of the CFDs that I “buy”?
The CFDs are cash settled, it is not possible to take delivery of the product (e.g. Crude Oil).
Do you roll my trades?
No, Abshire-Smith do not “roll” trades (e.g. Heating Oil September) into the next contract. At the point of expiry, the trade is automatically closed, settling either in profit or loss. As standard we release the next contract before we expire the CFD, allowing you to manually close your position, (realise the profit or loss from the trade) and reopen a trade in the next contract.
Are trading spreads fixed or dynamic (variable)?
On the VertexFX 10 platform our standard retail account has fixed tight trading spreads. The spread (the difference between the bid and offer) is fixed 24 hours a day 6 days a week*. The fixed spread provides you with confidence of what the spread will be when you open and close the position.
*In extraordinary conditions, due to reasons beyond our control, the liquidity provider may be unable to honour this. (To date, this hasn’t happened for our retail fixed spread account holders)
Is it possible for my order to receive a partial fill or rejection?
On the VertexFX 10 trading platform orders are STP to liquidity providers. It is not possible to receive partial fills.
Can I bridge my VertexFX 10 to Abshire-Smith?
Yes, it is possible to bridge your VertexFX 10 to the Abshire-Smith liquidity pool via the VertexFX – VertexFX bridge.
Abshire-Smith is an announced liquidity provider for the VertexFX 10 broker’s network by Hybrid Solutions.
Who is Abshire-Smith?
Abshire-Smith is authorised and regulated by the Financial Conduct Authority, the UK financial regulator. Abshire-Smith is registered with Companies House in England and Wales. We launched in March 2011, and offer spot Foreign Exchange, FX Futures, CFDs (commodities, indices) and Equity trading.
For further details see the "Why Abshire?" section of our website.
Is my money secure trading with Abshire-Smith?
Abshire-Smith is required by the Financial Conduct Authority to keep client funds in segregated accounts. These funds are held separate to the company’s capital and in the unexpected eventuality that the company was in financial difficulty or became insolvent; these funds would be separate from creditors. Abshire-Smith clients also benefit from the Financial Services Compensation Scheme, for more information please see the FSCS website.
What is a contract-for-difference (CFD)?
A contract-for-difference is an OTC derivative contract between two parties, with one party being a “buyer” and the other a “seller,” starting at a current price until the trade is closed or contract expires. A CFD enables a client to go long (buy) or short (sell), is traded on margin and was initially developed in the 1990’s by UBS Warburg.
How does Abshire-Smith make money?
Abshire-Smith is remunerated from executing trades by marking-up (widening) the spread received from liquidity providers, compensation for order flow and where applicable charging commissions.