Founded in 2010 in the UAE, ADSS is one of the leading brokers in the UAE and within the GCC region at large. The broker is licensed and authorised by the SCA (Securities and Commodities Authority) in the UAE as an execution-only broker. They make it clear that they do not offer financial advice, and their educational resources should not be construed as such.
ADSS grants market access to spot forex and CFD trading on commodities, forex, indices, equities, and crypto. They have several account types – from one demo to three live tiered accounts, named the Classic, Elite, and Pro – and they cater to a wide range of traders including retail, institutional, and professional.
In this review, we will focus exclusively on the forex aspect of the broker. Specifically, the instruments that they offer and the trading experience for those participating in spot or CFD trading on currency pairs. For more information on ADSS as a broker and a comprehensive overview of the services and solutions that they offer, you can check out this Forex Academy ADSS review. You can also check out reviews of the broker on user-generated review sites for a more well-rounded opinion of its services and performance.
Note that forex trading – spot or via CFDs – is a high-risk activity as the forex market is a fast-moving environment. You should ensure that you understand how the market works and the risks involved before you place trades with real funds, as it can lead to losses. Leverage used in trading may also lead to losses beyond funds in your account. This article was written for informational purposes only.
Currency pairs offered by ADSS
There are over 60 FX pairs offered by ADSS, including majors, minors, and exotics. To name a few:
- Majors – EUR/USD, GBP/USD, USD/JPY.
- Minors – EUR/HKD, USD/SGD, USD/DKK, USD/HKD, USD/MXN, USD/NOK, XAU/USD, CHF/NOK, EUR/SEK, GBP/SEK, HKD/JPY, EUR/PLN.
- Exotics – NOK/SEK.
Traders can participate in spot forex or forex CFDs with a maximum leverage of 500:1.
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Forex trading fees at ADSS
There are several fees that forex traders should note when trading spot or CFDs with ADSS. These include spreads, and charges on account funding and overnight financing. ADSS has a market information sheet that is updated frequently – the information here is accurate as of 26/02/2024.
Spreads
Spreads depend on three factors: the time of day that a currency pair is being traded, the currency pair that is traded, and the account type that the trader has. For those who have a Classic account, they adhere to competitive spreads set by ADSS, while those in higher tiers such as Elite and Pro can access 25% (or more) lower spreads.
Typically, we are seeing low spreads around 0.7-0.9 for major currency pairs like EUR/USD and GBP/USD, 2.0 for minor currency pairs like NZD/JPY and SEK/JPY, and just under 6.0 for the less liquid exotic currency pairs such as USD/CNH. These are accurate at the time of writing. However, again, there are several factors that can change the spread of a currency pair, so these numbers are only to be used as reference.
Account funding
As a UAE-based broker, ADSS offers several avenues of funding for both local and global traders. They offer deposits in USD and AED. AED deposits are converted into USD as per the shown conversion for Classic traders who have a USD trading account. Elite and Pro traders can trade with multiple currencies in their account.
ADSS accepts funding through Neteller, Skrill, Apple Pay, and Samsung Pay. They also take UAEPGS for UAE residents – this is an added-value solution, as the broker is partners with the Central Bank of the UAE.
Typical of all brokers, the trader is responsible for conversion fees applied by their bank or e-wallet, if their payments are not made in USD or AED. As part of their stringent security measures, no third-party credit cards are accepted, and withdrawals are blocked for 15 days unless the account has been cleared by their compliance department.
All funds are also returned to the original funding source when withdrawn, on top of a small fee charged by the broker.
Overnight financing
Overnight financing for FX changes over time, and information on MT4 swap points is included in their frequently updated market information sheet. It is best, therefore, to refer to the sheet that is on the ADSS website for the most accurate information for your specific currency pair.
Market information for forex traders
Other market information provided by the broker include live instrument charts of currency pairs. There are individual charts that display currency pair’s live prices, and there is a pricing chart and market information sheet that is updated frequently. There is also market information within the trading platform – whether traders are using MT4 or the ADSS proprietary solution. Additionally, there is information on trading hours written in GMT for those who are unaware of when the forex market is open and the trading sessions that take place.
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Overall thoughts on forex trading with ADSS
In general, trading forex – either spot or via CFDs – with ADSS is a good experience. Trading fees are standard compared to industry peers, and spreads range from average to competitive in the case of certain currencies. Swap fees are standard, and one thing that is worth pointing out is that commissions can range from low to none.
For Classic traders, ADSS does not charge commissions, which is a plus. Neither does ADSS charge an inactivity fee, while keeping account withdrawal charges to a minimum.
The selection of FX pairs is large and covers all the typical currency pairs that most traders will want or need. They also state that those who wish to trade certain exotic pairs can reach out to their customer support team should they not find it in their available instruments. There is no guarantee that ADSS can fulfil your request for more added FX pairs, but it is good to have the option to suggest them.
For information on the ADSS trading platform or their MT4 partnership, you can visit other comprehensive reviews. You can also find more information on their educational resources, account types, and customer support quality in other peer reviews around the web, as this review only covers forex spot and CFD trading.