As passionate forex traders, we believe in going around and testing out different brokers and platforms and comparing their offerings with competitors. Picking a forex broker can make or break one’s trading journey, so we tend to take it very seriously. We believe there is no such thing as the ‘best’ broker anywhere, but there are always stand-outs and top performers whose profiles are worthwhile sharing.
Today we want to review the experience of forex trading at ADSS, a broker that is based in the United Arab Emirates and serves global clients. It is licensed and regulated by the SCA in the UAE, and it is headquartered in the same country. It also has an office in London, and the broker is licensed and regulated by the FCA in the United Kingdom.
For basic information and a peer review of the broker, you can visit this Forex Academy ADSS review, where information on account types, platform availability, and leverage use are explained. Keep in mind that this review here is more recent than the review mentioned, and the information contained is correct during the time of writing in mid-2023.
ADSS as a forex broker
ADSS is a comprehensive forex broker, if we were to use one word to describe its operations and our experience. The broker offers over 60 currency pairs for trading, including major, minor, and exotic pairs. Leverage of up to 500:1 is available when trading, and the best part is – there are no commissions charged for trade execution.
What can you trade?
Firstly, it is important to mention that ADSS is authorised in the UAE as a trading broker for OTC derivative contracts and the foreign exchange spot markets. This means as a forex trader, you can trade currency pairs on the spot, and you can trade forex CFDs. Below is a list of their instrument offerings:
Major currency pairs
Having looked at the ADSS trading platform and their available instruments, we can conclude that the broker offers all the major currency pairs that traders may be interested in. They include EUR USD, USD CAD, USD CHF, GBP USD, USD JPY, and more. Spreads are competitive, and traders can participate in highly liquid markets.
Minor currency pairs
For those who are interested in trading minor currency pairs, ADSS also has a large variety of them. Some examples include EUR CHF, EUR GBP, AUD NZD, GBP JPY, AUD CHF, and AUD JPY. Spreads are equally competitive.
Exotic currency pairs
Finally, ADSS offers plenty of exotic currency pairs for those who wish to diversify their portfolios and take on currency pairs that are not in the mainstream. Examples of exotic pairs available include USD HKD, USD MXN, HKD JPY, and EUR HKD.
Trading fees
As mentioned, ADSS does not charge commissions on trades executed. Their spreads vary, and they do charge overnight financing rates for FX spot trades on MT4 and CFD trades. Swap points and financing rates are updated frequently and are available on the market information sheet on the official website, covering a variety of major, minor, and exotic currency pairs.
Forex spreads
Forex spreads vary depending on the currency pair and the type of account traders trade with. While Classic accounts have competitive spreads, Elite traders can trade with 25% lower spreads and Elite+ account members even lower spreads still. For those who are eager to learn more about account tiers and their account deposit minimum rates, they can check out the broker’s website.
Forex trading platform
ADSS offers two platforms for live forex traders who have an account with them. The first is MT4, which is the industry-recognised forex trading platform that many of us have come to become very familiar with. The second – perhaps worth spending more time explaining – is the broker’s proprietary trading platform, the ADSS trading platform.
Traders with live accounts can access the ADSS trading platform. It is intuitive in its interface, and it updates dynamically, so that traders can keep a record of their most recently viewed and searched instruments, and they can customise their currency price charts one time and have it stay the way they want them. The ADSS trading platform offers multiple types of charting visual options, from candlesticks to line graphs.
Forex traders can use a series of technical indicators for analysis, such as Bollinger Bands, Moving Averages, and they can spot trends and reversals with Support and Resistance Lines. They can also adjust charting timeframes, so they can view currency price fluctuations by the hour or by the year and in between. Charts are colour-coded, making them easy to read and changes are easily noticed.
Forex trading platform availability
The ADSS trading platform is available on mobile on the Google Play Store and the App Store, and it is downloadable for free. There are some limitations on where the app can be used – particularly in countries that have different local laws and regulations surrounding trading and Internet access. Therefore, traders should ensure they check if their locations are compatible with the trading app before travelling to mitigate the risk of loss.
On the mobile app, traders can receive real-time notifications and alerts based on the parameters that they set. They can also view their orders – including current and historical orders. For those who wish to see full breakdowns of their order history, they can do so easily with expanding panels. However, on a smaller screen, there are fewer elements shown at first glance for traders, which is to be expected.
Awards and recognition
What we believe adds to the strength of trading with ADSS is that this is a broker that has gained and maintained the trust of the local and global forex community. In 2021, ADSS was awarded Best FX Platform in the Middle East at the Global Forex Awards.
Final words – our verdict
Having taken a closer look at ADSS as a forex broker and a forex trading platform, we are pleased to say that we have a positive impression on the broker. Our verdict is that it offers a comprehensive range of currency pairs, has a customisable and intuitive platform, and reasonable fees with competitive spreads. As no commissions are charged for trading forex, this is also a benefit for traders to keep in mind.
