ADSS (ADS Securities) is a broker founded in 2010 in Abu Dhabi, the capital of the United Arab Emirates. It is authorised and regulated by the Securities and Commodities Authority (SCA) in the UAE as a trading broker for OTC derivatives contracts and foreign exchange spot markets.
ADSS has been in operation for over ten years, and it has received various prestigious awards over time in the GCC region. They include:
- Most Trusted Forex Broker (Global Forex Awards, 2021)
- Best Forex Trading Platform (Global Forex Awards, 2021)
- Best Forex Broker (Forex Traders Summit, Dubai, 2022)
As a regional stronghold, ADSS offers innovative solutions for forex spot trading and CFDs on stocks, indices, cryptocurrencies, commodities, and forex. The broker is also peer-recognised in the industry, known for the transparent and competitive trading environment it provides.
In this review, we will look at the functions and fees of ADSS’sClassic and Elite accounts, available for retail traders. The information in this article is accurate as of 15 January 2024.
Professional and institutional traders can also trade with ADSS through Elite or Elite+ accounts, which offer advanced trading with a wider range of tools and solutions such as white labelling, deeper liquidity pools, lower spreads, and dedicated senior trader and relationship manager support. A demo account is also available for those who wish to try out the ADSS trading platform or test out strategies on MT4.
ADSS – offerings
To begin with, ADSS offers CFD trading on stocks, indices, cryptocurrencies, commodities, and forex. The broker also offers spot forex trading. It does not offer ETFs, mutual funds, and options, so this is where limitations may lie if you are an advanced trader looking for a one-stop shop for trading. However, the range of instruments from its offering is vast.
- Spot forex trading on major and minor currency pairs, as well as exotics on request. Maximum leverage: 500:1.
- CFDs on forex on major and minor currency pairs, as well as exotics on request. Maximum leverage: 500:1.
- CFDs on stocks from global exchanges and those within the GCC region in particular may interest traders. Maximum leverage: 20:1.
- CFDs on commodities including agriculture, metals, and energy. Maximum leverage: 100:1.
- CFDs on indices of global exchanges, such as the Nikkei 225, the DIJA, the FTSE 100, the DAX, the Hang Seng Index, and more. Maximum leverage: 333:1.
- CFDs on cryptocurrencies including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. Maximum leverage: 4:1.
The Classic account at ADSS
The Classic account is available for retail traders who wish to register with ADSS. Its minimum deposit requirement is 100USD, which is a much lower entry barrier than most brokers offer and definitely a benefit for new or beginner traders. Maximum leverage of 500:1 is available, and traders will have access to the broker’s full range of offerings.
The Elite account at ADSS
The Elite account has a minimum deposit of 100,000USD, a much higher threshold than the Classic account. With this comes 25% lower spreads, a dedicated senior manager, and access to +Elite events. The account also permits multi-base currency, and maximum leverage of 500:1 is available.
Fees at ADSS
There are several types of fees charged by ADSS – let’s go through each category, from commissions, spreads, account fees, and other charges such as funding fees. As mentioned, all information is accurate as of 15 January 2024. ADSS has a market information sheet that is regularly updated on the broker’s website, where you can find the latest information on trading and account fees.
Commissions
ADSS does not charge any commissions on spot forex and CFD trades.
Spreads
Forex spreadsvary depending on instrument and time.
During the overlap between the London and New York trading sessions, when the market is highly liquid, spreads for major currency pairs such as EUR/USD and GBP/JPY remain tight. During North American East Coast trading hours, other instruments such as major stocks and indices (Dow 30) on US exchanges offer a competitive edge with very low spreads.
Account fees
Most account fees at ADSS revolve around funding (withdrawals and deposits) and currency conversion and fund maintenance. Traders can use credit or debit cards, wire transfer, and Apple or Samsung Pay to fund their accounts.
There are no charges to receive funds using standard bank transfers, but there may be a service charge from your credit card provider. For withdrawals, there is a minimum withdrawal charge of $15 applied.
ADSS charges a currency conversion fee for realised profits and losses to be converted into your account currency. ADSS applies a mark-up of up to 1.00% for any conversion. For Classic accounts that are only denominated in one currency, traders will more affected. This also applies to Elite accounts, but as they provide multi-currency funding, this may not occur as often.
Funding fees
ADSS charges overnight financing charges to Cash CFDs that remain open at the end of each trading day, 22:00 GMT. This charge is positive or negative, depending on the direction (long or short) of the open position, and it is derived from a benchmark interest rate and includes the broker’s mark-up (to cover administrative costs).
Daily funding fees vary, and the market information sheet provided by ADSS includes several formulae for traders to figure out their charges depending on asset class.
- Equities and indices: nights held x (market closing price x trade size x (2.5% +/- credit adjusted 1-month ARR rate)) / 365.
- Forex: nights held x tom-next (tomorrow-next day) rate x trade size.
The ARR rate stands for Alternative Reference Rate, and it is an interest rate benchmark that has replaced interbank offered rates (IBORs) for financial products and contracts. Each currency has its own ARR, and they are based on actual overnight interest rates in liquid wholesale cash and derivative markets. ARRS are risk-free rates, and they are based on interbank lending over longer periods. There is also always an overnight financing rate for forex because it settles on a T+2 basis. Traders who hold positions overnight on Wednesdays will also be charged for three days’ carry.
Final words on ADSS accounts and fees
One of the only brokerages headquartered in the GCC, ADSS has build a strong reputation in the region as one of the best in the region. Their Classic and Elite accounts offer new and experienced traders a range of products to trade, and the flexibility in minimum required deposits is a great benefit.
There are no commissions charged on CFD trades, which is a bonus, and like most brokers, withdrawals are done at a small fee, and overnight and rollover charges apply. Overall, ADSS has my vote of confidence, and it is indeed an excellent broker if you are looking to participate in CFD and forex trading with a low entry barrier with access to GCC instruments.
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