Choosing a broker to work with can be a challenge for those who are unsure what to look for. It is essential to read reviews and check out peer evaluation of brokers before opening a live account with one, as they will give you a sound idea of the trading environment and experience you will encounter.
In this review, we will examine some ADSS pros and cons, as well as highlight some stand-out features of the broker. But first, we will look at the broker’s background and offer information on its origins, licensing, and language availability.
ADSS – broker background
ADSS is a broker that focuses on trade execution of spot forex and CFDs on forex, commodities, equities, cryptocurrencies, and indices. With its headquarters in the United Arab Emirates, it is one of the leading brokers in the country and in the wider GCC region. Its website is available in English and Arabic, with educational articles, resources, trading platform, and customer support offered in these two languages (or more). ADSS is licensed and regulated by the SCA in the UAE, and it has licenses in the United Kingdom (FCA) and in Hong Kong (SFC).
Stand-out features of ADSS
Before examining the general benefits and limitations of ADSS, we will examine some of its stand-out features that we believe are key distinguishers of the broker.
No commissions charged in trade execution
One of the biggest bonuses of the broker is that they do not charge commissions when it comes to trade execution. There are also no other hidden fees. The lack of commissions means that traders – particularly those who are keen to trade at high frequency – will be able to pocket as much of their potential profits as they can.
Ease of funding
The second stand-out feature of ADSS is the ease of funding for traders with live accounts. In addition to wire transfer or other digital transfers through traditional channels, ADSS traders can fund their accounts with Apple Pay or Samsung Pay – an impressively quick process that requires nothing more than a click of a button. This is certainly a pro for traders who wish to fund their accounts over time to increase their trading sizes, or those who wish to transfer the profits they have made from their trading accounts to their bank accounts.
Account verification with UAEPass
Speaking of live accounts, the UAE broker also allows local (UAE) citizens to open them with UAEPass, negating all the paperwork in the identity verification process. UAE citizens can take an entirely digital route when it comes to providing documentation to verify their account, and it simplifies the process and speeds it up by a significant amount of time.
Low barrier to entry
Finally, one of the biggest stand-out features of ADSS is its low barrier to entry. Many leading brokers that claim to cater to traders of all skill and experience levels have high minimum deposit requirements for live accounts, which prevent novices from being able to even start trading. ADSS has three account tiers for those who want to trade live: Classic, Elite, and Elite+.
The Classic account provides this low barrier to enter the financial markets with a minimum deposit requirement of only 100 USD. The Classic account holder is still able to gain access to the full range of the ADSS offerings as well as access leverage of up to 500:1. Competitive spreads are also available to the Classic account holder, on top of zero commissions on trade execution.
Other benefits of the broker
After reviewing the stand-out features ADSS has, let’s explore some of the general benefits the broker offers for their traders. We have gathered this information from the broker’s official website as well as several peer reviews online, including formal reports and user-generated comments on aggregator websites.
Diverse product offering
One of the first benefits of ADSS is its diverse product offering. The broker provides forex spot trading and CFDs on forex, cryptocurrencies, commodities, stocks, and indices, with varying levels of leverage utilisation.
To be precise, ADSS offers over 60 currency pairs, major digital currencies,global and GCC stocks, and indices from American, European, and Asian financial markets. They also offer commodities such as coffee, UK and US crude, heating oil, and various precious and industrial metals. Their CFD offering makes it easy for traders to diversify their portfolio and go long or short depending on market movements and trends.
Bespoke trading platform and MT4 connection
Another benefit of trading with ADSS, in our opinion, is the ability to choose between using their proprietary trading platform – the ADSS platform – and MT4. Both platforms are available on desktop and on mobile, and the ADSS platform, in particular, can be used on desktop and mobile simultaneously provided that the trader has good enough Internet connection.
Bilingual educational resources
Finally, one of the strong points of ADSS is its bilingual educational resources. If you are based in the UAE as a local, chances are that you are bilingual, and its resources in English and Arabic is a good way for traders of all backgrounds to improve their trading skills. Some of these resources include educational articles, platform guides, market commentary, and a full financial glossary that is hosted on the ADSS website.
Limitations of the broker
ADSS is certainly not perfect, as no brokers are. Two of the limitations of the broker include the inability to trade ETFs and options, and the inability for demo account traders to use the ADSS platform.
Inability to trade ETFs and options
Indeed, ADSS does not offer derivatives beyond CFDs. This means traders cannot participate in ETF trading directly, nor can they purchase options. This limits the range of trading strategies that traders can use. Nevertheless, it is not the end of the world, and many traders are perfectly happy to go their entire trading journey without investing in funds and trading options. For many, this will not be a problem in the slightest.
Demo account holders must use MT4
Another limitation ADSS presents is that demo account holders can only use MT4 to place practice trades. The ADSS platform is available only to live traders with funded accounts, and this makes it difficult for demo traders to make the switch from paper trading on MT4 to live trading on the ADSS platform. However, live traders at ADSS are also allowed to trade on MT4, and the broker further mitigates this limitation by making the ADSS platform an intuitive one with a minimal learning curve. This allows traders who make the switch from demo to live to find their feet more easily.
It is vital for traders to work with a broker they understand. To do this, they must learn about the general pros and cons of the broker to make sure these are conditions they can accept. ADSS has been a leading broker in the UAE since its conception, and the broker offers plenty of positives, including the lack of trade execution commissions, the use of UAEPass, and its low barrier to entry into the financial markets. It has its limitations, but they are easily mitigated. Overall, we would recommend ADSS as an option for those who are looking for an efficient and thoughtful trading experience.