Amana Capital Review 2024

Key Takeaways

• Amana Capital is a growing broker founded in 2010 and headquartered in Dubai.
• Amana Capital is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Capital Markets Authority (CMA) of Lebanon, the Labuan Offshore Financial Services Authority (LOFSA) of Malaysia, the Dubai Financial Services Authority (DFSA) and the Financial Services Commission in Mauritius (FSC). 
• The broker has taken out voluntary extra insurance protection up to $1,000,000 in selected markets.
• Amana Capital provides good access to financial markets, with Contract for Differences (CFD) in seven asset classes.
• With 54 FOREX pairs, 280 Company shares and four cryptocurrency CFDs, among other instruments, Amana Capital customers have a range of investment options from which to choose.
• Amana Capital uses the well-known, third-party trading platforms MetaTrader4 (MT4) and MetaTrader5 (MT5) to provide clients with a strong trading experience.
• Amana Capital has clients from 80 countries.
• The broker offers Islamic account trading.
• Amana Capital boasts excellent pricing for high-volume traders.
• Amana Capital claims to have tight spreads and competitive rates.
• Amana Capital offers traders a strong range of four different account types.
• Accounts are accessible with just a $50 minimum deposit on the Amana Classic Account.
• Amana Capital supplies quality multilingual 24/5 customer support.
• The broker provides an excellent knowledge base of quality educational tools. It prioritizes producing market content in Arabic for the benefit of its core client base, but supplements this with market news and analysis from third-party news aggregators (mostly in English).

Overall Summary

Amana Capital is an emerging broker originally founded in Beirut during 2010. Today, it has expanded its operations to 80 additional countries. It is now headquartered in Dubai, with notable office locations in London and Cyprus. Founded with the vision of becoming the industry leader in innovative financial services with a technological edge, the company is striving to achieve these aims.

As mentioned above, Amana Capital is regulated by six global bodies: the FCA, the DFSA, the CySEC, the CMA, the LOFSA and the FSC. It has a responsive customer service team that offers 24/5 support to its core client segments. Traders can access this support via phone, email, live chat and text.

Amana Capital offers its clients access to 360 assets drawn from FOREX, indices, shares, CFDs, spot metals and commodities. As aforementioned, it uses the well-known MT4 and MT5 platforms to provide a solid trading experience. Further, the broker partners with Autochartist and TradeCaptain to provide good levels of market analysis. 

Who Is Amana Capital Good For?

Amana Capital has a well-rounded offering for both beginner and experienced traders. As a growing broker, its total product basket is entirely acceptable, although not game changing. Clients looking for “experimental” technologies or the comfort of a globally recognized FOREX broker name will not find what they want here. At the same time, traders who work with low volumes may find the spreads uncompetitive, and the deposit and withdrawal fees prohibitive. We found Amana Capital particularly receptive to high-volume traders, with ultra-low fees and personalized attention being reserved for these clients.

Amana Capital appears to be satisfied with providing a familiar homegrown offer to clientele in its main trading base of the Middle East. It certainly has all the bases covered, and users will not find cause to complain about its platforms, market access or regulation.

Amana Capital accepts customers from markets as diverse as Saudi Arabia, Kuwait, Luxembourg, Australia, Thailand, Hong Kong, India, France, Germany, Italy, Denmark, the UAE and Qatar. It does not accept customers from the US, Canada, Korea, Japan, Israel, Iraq and Cuba. 

Is Amana Capital safe?

Offering of Investments

Amana Capital offers its clientele healthy access to the following market instruments:

• FOREX.

• Indices.

• Precious metals.

• Energies.

• Commodities.

• Share CFDs.

• Cryptocurrencies.

This includes an attractive 54 FOREX pairs and a variety of popular future and cash-stock indices, such as Germany’s DAX and the NASDAQ in New York. Traders can also access gold and silver on spot and futures contracts, energies – including Brent oil – and soft commodity futures, such as corn and soybeans. Moreover, you can choose from over 280 US company shares, such as Walmart, Netflix, and Pepsico. Finally, it offers cryptocurrency CFD trading on Bitcoin, Ethereum, Litecoin and Ripple. 

Account Types

Amana Capital offers a variety of account types. Each is suited to different trader experience and instruments. The user looking for a standard trading experience with FOREX and CFDs can choose the Amana Classic Account. By contrast, seasoned, high-volume traders can select either Amana Active or Amana Elite. These two accounts suit traders with large capital amounts. Here are more details on these account types:

Amana Classic Account: This standard account is geared toward the entry-level trader. The minimum deposit is a low $50. The account is available on the MT4/MT5 platforms. Spreads start from 1.4 pips, with a maximum leverage of 1:500 for non-EU clients. Traders will not be charged commissions on FOREX and cash CFDs. Other commissions apply: $10 per lot on Future CFDs and $0.02 per share CFDs with a minimum of $15 per transaction.  

Shares Account: Designed for traders who wish to trade shares only, it offers over 280 share CFDs on the MT5 trading platform. There is no minimum deposit, and up to 1:10 leverage. The account is available in USD and EURs. Commissions of $0.02 per share apply, and a minimum of $15 is levied against every transaction. 

Amana Active Account: High-volume traders will benefit most from this account. With a minimum deposit of $25,000, traders are expected to trade at least $100 million every month. The account comes with a personal relationship manager, and traders will receive selected discounts on trading costs. They will also have access to customized Expert Advisers (EA) and indicators, while Virtual Private Server (VPS) and trading signals also come with the package.

Amana Elite Account: This account is designed for high-net-worth individuals who can afford to put down a minimum of $250,000 as starting capital. The account comes with extra-low spreads, reduced fees, trading data tools, a personal account manager, and expert personal coaching from Amana Capital experts. 

Demo Account: Amana Capital clients can also use a safe training account, where they can practice their trading skills in a secure, risk-free environment. They can put their strategies to the test for a trial period of 30 days using both the MT4 and MT5 desktop and mobile apps. 

Account Opening

Opening an account with Amana Capital is fast and convenient. You simply have to access the broker’s Website and click “Start trading.” This opens the account registration form. Traders can select their preferred account type and enter the standard biographical and address details. 

After reading and accepting all the broker’s terms and conditions, traders can click “Register” to access another section. Here, traders can indicate pertinent information, such as their trading experience and financial net worth. After uploading all the required documentation, the trader is free to deposit money and start trading.

Deposits and Withdrawals

• Bank transfer.
• Credit/Debit cards.
• Skrill. 
• Neteller.
• Qiwi. 
• WebMoney.
• UnionPay.

Withdrawals 

Customer Service

Commissions and Fees

Leverage

Platforms and Tools

• Analysis tools with a stream of financial news.
• Help functions with a user guide in case traders get stuck.
• Real-time quotes on different financial market instruments.
• A repository of quotes for analysis.
• High-level charts that can be plotted across timelines.
• Automatic trade execution with one click.

• Expert technical analysis tools and up-to-the-minute financial news.
• New algorithmic trading functionality.
• Insightful trade signals and valuable technical indicators, in addition to 24 analytical tools.
• Traders can perform netting and order-hedging.

Mobile Trading

Research and Development

Final Thoughts

Conclusion

Amana Capital in Brief

Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:

1. Companies’ Websites.
2. Other Websites that have ranked FOREX companies.
3. A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. 

We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.  
Afterward we validated the data by:

1. Registering with FOREX companies as a secret shopper and/or as Arincen.
2. Survey number “2,, in which we asked these companies’ customers for important feedback and past experience. 

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.