Welcome to another Forex review which will give you an insight into the business and operations of Prime by ADS Securities. The Forex market is a risky business on its own, and yet if we add the many scammers and fraudsters luring in the market, we have to react and let the public know what is going on. Forex broker reviews can help traders a big deal in making the decision which broker to choose or not to choose. This time we will be discussing the capabilities of the ADS Securities Forex broker who is new to the scene and see if the broker is worth your time and money.
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Background Information
The ADS Securities broker was established two years ago in 2014 in London but has been operating since 2011 in the UAE. The broker originally comes from the exotic United Arab Emirates and has expanded its business to the west finding the perfect opportunity in the UK. The broker secured the FCA license which is not a surprise given that the international magnate seems to have it all under control. The FCA licenses is a good reference point to many traders in terms of security and safety of their funds. This means that this broker already has the trust of UK citizens and traders because they operate under one of the strictest regulatory bodies in the country. The company started out with $400 million and is owned by a group of investors which are supposedly friends with the UAE royalty. Since its expansion, the UAE biggest Forex broker had to get accustomed to the European way of trading and laws, but this was not a big deal for the hotshot from Abu Dhabi. Many new brokers struggle for the first few years of their existence to make a name and establish a reputation, but ADS Securities fit in easily. Now let us see what the Middle East broker brings to the table in the European market.
Trading Platform
The broker provides ECN and market maker services on the Meta Trader 4 including the MT4 Plus add-on which provides, even more, trading tools to traders. The majority of brokers still sticks with the MT4, but this broker went a step further and opted for the MT4 Plus. The ADS Securities also provides the so-called Algo Builder, a tool which enables traders to create their own expert advisors which is an automated feature so that traders do not have to bother with the technical part. The tool is free of charge and can be accessed by all traders.
Account Types
The ADS Securities broker offers three types of accounts with a minimum deposit of £200. These include:
- ECN account
- Standard account
- Spread Betting account.
The last two are typical dealing desk accounts where traders can trade in more than 60 currencies, equities, commodities, etc. the only difference between these two accounts is that the Spread Betting account is tax-free for UK-based traders. The third ECN account is more focused on Forex and CDF trading rather than equities and commodities. The ECN account requires a commission, just like any other ECN account. All of the accounts offer competitive spreads and leverage is 1:500 for all account types.
ADS Securities Bonuses
Now we have to disappoint you because the ADS Securities does not offer the standard deposit and welcome bonuses. Nevertheless, they offer certain promotions from time to time which can be very lucrative. To stay in the loop, you should check from time to time with ADS Securities customer support who will inform you about the promotion period.
Prime by ADS Securities Funding Options
As a true international broker who has a lot to offer, the ADS Securities also provides multiple payment methods to choose from. They include the standard funding options like credit and debit card, bank transfer, and e-wallets like UnionPay, Skrill. They also accept cheques. For a broker of this caliber, the ADS Securities could widen the variety of payment methods. Many EU brokers offer a series of payment methods and ADS Securities should keep up with the offer in order not to lag behind.
Customer Support
The customer support does not differ much from European customer supports. It offers the three major contact forms: e-mail, phone, and live chat. Your inquiries will be answered within one day, but if a trader files a complaint, it takes the broker to weeks to resolve the issue. Well, it seems that the broker needs more time to adjust to the fact that in Europe things are done faster.
Conclusion
This ADS Securities review points out all the strengths and weaknesses of this broker. They have very good platforms and account types, but they lag behind with complaint resolution and the bonus policy. For a broker who started out with $40 million, it is quite surprising that they do not offer standard bonuses, at least a welcome bonus to newcomers. Nevertheless, the broker’s overall performance is more than good enabling a safe and comfortable trading environment to investors.