ADSS Is Winding Down UK Operation

ADSS, Abu Dhabi-based retail and institutional FX & CFDs broker, is closing its UK operation, ADS Securities London Ltd (ADSSL), in order to refocus its resources on other entities within the Group.

In October, Fazzaco reported that ADSSL experienced a 34 percent year-on-year decline in its revenues (excluding Transfer Pricing) for fiscal 2021​, ending on December 31 2021.

Just early this month, Dan Benton has resigned from ADSS as Senior Sales Trader after around four years. Dan has moved to London Capital Group (LCG), a London-based leading provider of online trading services, as its Head of Sales.

"We regret to inform you that ADSSL has decided to withdraw from the UK market and is winding down its business. This follows a strategic decision from ADSSL's parent company to refocus its resources on other entities within the Group," stated ADSS.

ADSSL received FCA authorisation in 2012. The unit has applied to relinquish its UK license.

"The wind-down of ADSSL will be done in an orderly manner in accordance with our FCA obligations and we remain available to answer any questions you may have."

This move does not impact ADSS operations outside of the UK. Visitors from outside of the UK region are able to access the ADSS global website, notes the company.