CySEC Put Cyprus Brokers on Notice in Last Week’s Conflict-of-Interest Sweep
CySEC has told Cyprus brokers to prepare for on-site inspections and desk reviews focused on conflicts of interest and retail product sales.
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Abstract:Does ADSS give you plenty of excuses to deny you access to withdrawals? Is your withdrawal request pending for months or years? Do you witness account freezes from the United Arab Emirates-based forex broker? Do you struggle to open and close your forex positions on the ADSS app? Does the customer support service fail to respond to your trading queries? All these issues have become a rage online. In this ADSS Broker review article, we have highlighted actual trader wordings on these issues. Keep reading!

Does ADSS give you plenty of excuses to deny you access to withdrawals? Is your withdrawal request pending for months or years? Do you witness account freezes from the United Arab Emirates-based forex broker? Do you struggle to open and close your forex positions on the ADSS app? Does the customer support service fail to respond to your trading queries? All these issues have become a rage online. In this ADSS Broker review article, we have highlighted actual trader wordings on these issues. Keep reading!
Traders accuse ADSS of withholding clients‘ capital for a long period, ranging up to even two to three years. Despite repeated requests, the broker refuses to entertain withdrawal queries. Some traders’ withdrawal applications get rejected without any reason, causing fund losses. Here are some screenshots explaining the traders pain behind withdrawal denials.


It is purely a trader‘s accusation. From one of the comments that appeared on WikiFX under the ADSS Broker review, the trader commented that he typed the transaction password correctly. However, the ADSS login platform kept denying the trader, who happened to have alleged it as part of the company’s scam tactics to cheat investors. The screenshot below contains the exact wording of the trader.

Further explaining the mess on withdrawals, a trader reported that he waited two months for a withdrawal. During this period, the ADSS customer service executive highlighted a SWIFT code error, which the trader fixed. The trader further followed the officials demand to fill in FATCA and CRS. Subsequently, the customer service team informed the trader via email that the withdrawal was executed. However, upon checking the bank account, the trader did not find any fund transfers. The trader called the customer service, which, however, did not reply to this issue. This made the trader share this ADSS Broker review.

In a fast-paced forex market, its important to open fresh trade orders and close old ones on time. Without it, you are bound to face either losses or miss profit maximization potentials. Unfortunately, traders find it hard to place new orders and close positions on the ADSS login. The trader issued a caution while trading with this forex broker. Check out his comments to know more about the matter.

The growing withdrawal complaints, coupled with the trade order placement issues, add to traders‘ anxiety and chaos. This made the WikiFX team investigate the broker thoroughly, including screening all the complaints registered against it. The team gave ADSS Broker a score of just 2.49 out of 10 despite the fact that it is a regulated entity in the United Arab Emirates. The forex broker needs to make amends to regain traders’ trust.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

CySEC has told Cyprus brokers to prepare for on-site inspections and desk reviews focused on conflicts of interest and retail product sales.

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