When it comes to picking a broker, it can be difficult, especially for first-timers who are not sure of what to look out for. That is why it is essential to do your research and read reviews before opening a trading account with a broker.
In this review, we take a look at some of the ADSS pros and cons, as well as highlight some features of the brokerage firm. Keep reading to learn more.
ADSS is a brokerage firm that focuses on trade execution of spot forex and CFDs on indices, stocks, commodities, forex, cryptocurrencies, and more. It is headquartered in the UAE, making it one of the leading brokers in the country and the wider GCC region. Its official website is available in both English and Arabic, with educational articles, resources, trading platforms and customer support offered in these two languages, and sometimes more. ADSS is regulated by the SCA in the UUAE and the FCA in the UK.
Functions and features of ADSS
Before we take a look at the general advantages and limitations of the brokerage firm, we will first dive deep into some of its standout features and functions that help to distinguish the brokerage firm from its industry peers.
No commission is charged in executing trades
A feature of the brokerage firm that is advantageous to traders is that they do not charge any commissions when it comes to executing trades. There are also no hidden fees, meaning traders know exactly what they are getting. As such, the lack of commissions indicates that traders – especially those who often trade at high frequencies – can pocket as much of their potential returns as possible.
Ease of funding
Another feature of ADSS is its ease of funding for traders looking to open live trading accounts. In addition to more traditional methods such as bank wire transfers or other digital transfers, ADSS traders have the option of funding their accounts using Apple Pay or Samsung Pay. This is an incredibly quick process that requires nothing more than a simple click of a button. Therefore, this is definitely a pro for traders who are looking to fund their accounts over time to increase their trading sizes or those who are looking to transfer the returns they have made from their trading accounts to their bank accounts.
Account verification with UAEPass
When it comes to live accounts specifically, the brokerage firm allows local (UAE) citizens to open them with UAEPass. This eliminates all paperwork in the identity verification process. UAE citizens can even take an entirely digital route when it comes to providing documentation in order to verify their accounts. It also simplifies and speeds up the process by a significant amount of time.
Low barrier to entry
Finally, one of the biggest standout features of ADSS is its low barrier to entry for traders. Here, ADSS has three live trading account tiers for those looking to access the markets – the Classic, Elite, and Elite +. These accounts can cater to traders of all experience and skill levels, making it great for novices who are looking to trade for the first time.
The Classic account provides a very low barrier to entering the financial markets as it only has a minimum initial deposit requirement of $100. Even so, Classic account holders can still gain access to the full range of what ADSS offers, as well as a leverage of up to 500:1. Competitive spreads are also provided, alongside zero commissions on trade executions.
After taking a look at the standout features that ADSS offers to traders, we explore some of the general benefits that it provides. Below is some information from the broker’s official website as well as other peer reviews online. These include both formal reports and user-generated comments.
Bilingual educational resources
A strong point of ADSS is its bilingual educational resources. Those based in the UAE as a local can view the insights in Arabic instead of English, which makes it easier for traders to understand trading concepts even if their first language is not English. Some of these resources include platform guides, market commentary, educational resources, and a full financial glossary that is hosted on the ADSS website.
Diverse product offerings
One of the major benefits of ADSS is its diverse range of product offerings. The broker provides CFDs and forex spot trading on commodities, forex, cryptocurrencies, indices, and stocks, with varying levels of leverage utilisation.
ADSS offers over 60 currency pairs, GCC and global stocks, indices and major digital currencies from American, European, and Asian financial markets. They also offer commodities such as the UK and US crude heating coffee, oil and various industrial and precious metals. Their CFD offering makes it easy for traders to diversify and expand their portfolios and go short or long depending on market trends and movements.
Bespoke trading platform and MT4 connection
Finally, another benefit of trading with ADSS is having the ability to choose between their proprietary trading platform and MetaTrader 4 (MT4). Both platforms are available on desktop and mobile, and the ADSS platform can be used on both mobile and desktop at the same time. This is provided that the trader has good enough internet access.
Limitations of ADSS
That said, despite everything, ADSS is not perfect – though no broker is. Two of the main limitations that ADSS has include the inability of demo account traders to use ADSS’ bespoke trading platform, as well as the inability to trade ETFs and options.
Cannot trade ETFs and options
ADSS unfortunately does not currently offer derivatives beyond CFDs. This means traders cannot participate in ETF trading directly, and they also cannot buy options. This limits the range of trading strategies that traders can utilise. That said, many traders are still happy to go through their entire trading journeywithout trading options and investing in funds. So, for many, this will not be much of a problem in the slightest.
Demo account holders must use MT4
As stated above, another limitation of ADSS is that demo account holders can only use MT4 to place paper trades. This is because the ADSS bespoke trading platform is only available for live traders who have funded their accounts. This therefore makes it difficult for demo traders to make the switch from paper trading on MT4 to live trading on ADSS’ bespoke trading platform. That said, live traders are also allowed to trade using MT4, and the brokerage firm mitigates this limitation by making the ADSS platform highly intuitive with a minimal learning curve. This allows traders who make the switch from the demo account to the live account more easily.