Choosing a brokerage firm can be a challenge for those who are unsure of what to look for. As such, it is essential for traders to read reviews and check our customer testimonials before they commit to opening a live account with a broker. In this review, we take a look at ADSS pros and cons and offer some insights into the broker’s features and functionalities.
Data collection and privacy policy
One of the most important things when it comes to picking a suitable brokerage firm to work with is how secure their information and funds are. More specifically, ADSS is regulated by the SCA in the UAE, and the FCA in the UK. This means the broker holds fund management and data privacy strictly, making sure they are regulated in accordance with local laws. Additionally, when it comes to trading, ADSS makes sure that it does not link collected search history, as well as usage diagnostics and data, to users.
Features of ADSS
Before taking a look at ADSS’ general benefits and limitations, we will break down a few of its standout features that appear to distinguish this broker from others in its industry.
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Ease of funding
A standout feature of ADSS is the ease of funding for traders who have opened live accounts. In addition to more standard options such as wire transfers or other digital transfers through credit cards and more traditional channels, ADSS traders can even choose to fund their trading accounts with digital wallets such as Apple Pay or Samsung Pay. This is an impressively quick process that requires no more than a simple click of a button. As such, this is a pro for traders who are looking to fund their accounts over time in order to increase their trading sizes or those who wish to transfer any profits made from their trading accounts into their bank accounts more efficiently.
No commissions are charged when executing trades
One great feature of the brokerage firm is that it does not charge any commissions when it comes to executing any trades. In fact, there are also no other hidden fees. The lack of commissions means that traders, especially those who are looking to open many positions or those who do not have as many funds, can pocket as much of their potential profits as they possibly can.
Low barrier to entry
Another big stand-out feature of the brokerage firm is its low barrier to entry. In comparison, many leading brokers in the industry that claim to cater to all kinds of traders tend to have high minimum deposit requirements for live accounts. This prevents novices or those who do not have many funds to start trading. Fortunately, ADSS has three different live account tiers for those who are looking to trade live – the Classic, the Elite, and the Elite+.
The Classic provides traders with a low barrier to entry with a minimum initial deposit requirement of only $100. Despite that, Classic account holders can still gain access to the full range of ADSS offerings in addition to accessing leverage of up to 500:1. Competitive spreads are also available for Classic account holders, in addition to zero commissions on trade executions.
Account verification with UAEPass
Finally, with regard to live accounts, the brokerage firm also allows local UAE citizens to open live trading accounts with UAEPass. This negates all paperwork needed in the identityverification process. In fact, UAE citizens can simply take an entirely digital route when it comes to providing documentation to verify their accounts. This is because it simplifies the process and speeds it up by a significant amount of time.
The pros of ADSS
After taking a look at the standout features ADSS offers, here we explore a few of the general benefits the brokerage firm offers to traders. Here, this information has been gathered from ADSS’ official website, in addition to other peer reviews online. This includes both user-generated and formal reports and comments on other websites.
A diverse range of products offered
One of the greatest benefits that ADSS offers is a diverse range of products offered to traders. More specifically, the brokerage firm provides forex spot trading and CFDs on cryptocurrencies, forex, commodities, indices, and stocks, with varying degrees of utilisation and leverage.
With regards to products, ADSS offers over 60 currency pairs, major digital currencies such as Bitcoin, GCC and global stocks, in addition to indices from European, American, and Asian financial markets. The brokerage firm also offers commodities ranging from metals, energy products, and agricultural products. Their CFD offering makes it easier for traders to diversify their portfolio, in addition to going short and long depending on the market movement and trends happening.
Bilingual educational resources
Another strong point of ADSS is its bilingual educational resources. For traders who are based in UAE as a local resident, chances are they are bilingual. As such, with ADSS’ educational resources being in both Arabic and English, it is a great way for traders of all backgrounds to improve their trading skills. Some of these educational resources include blog articles, market commentary, videos, platform guides, as well as a full financial glossary that is hosted on ADSS’ official website.
Bespoke trading platform and MT4 connection
Finally, another benefit of trading with ADSS is the ability of traders to choose between either using the broker’s own bespoke proprietary platform, or MT4. Both platforms are available on desktop andmobile devices. In particular, the ADSS platform can also be used on both desktop and mobile devices at the same time, provided that the trader has a good internet connection.
Limitation of trading with ADSS
While ADSS is a very robust broker, it does not provide everything to every trader. Two of the main limitations include the inability to trade options and ETFs, as well as the inability of demo account traders to use the ADSS platform.
Demo account holders must use MT4
A limitation that ADSS presents to traders is that demo account holders can only use MT4 to place their practice trades. This is because the ADSS platform is only available for live traders who have funded their accounts, which makes it difficult for demo traders to make the switch from paper trading on MT4 to live trading on the ADSS platform. That said, live traders at ADSS are also allowed to trade on MT4. The broker further mitigates this particular limitation by making the ADSS platform very intuitive, with a minimal learning curve. This therefore allows traders who make the switch from a demo account to a live account to find their feet more easily.
Inability to trade options and ETFs
ADSS unfortunately does not offer derivatives beyond CFDs. This means traders cannot purchase options, nor participate in trading ETFs directly. This therefore limits the range of trading strategies that traders can use. However, this is not the end of the world – with many traders being perfectly happy to go their entire trading journey not trading options or investing in funds. So, for many traders, this will not be a problem in the slightest.
Bottom line
Overall, it remains vital for traders to work with a brokerage firm that they understand and trust. As such, they must learn about the broker’s general pros and cons before committing to opening an account. On the whole, ADSS offers plenty of positives to traders, such as the lack of commissions on trade executions, the use of UAEPass, and more. While it does have some limitations, they can be mitigated. As such, ADSS remains a highly recommended option for those looking for a broker.
