Amana Capital Review 2024
Website: www.amanacapital.com
Min. Deposit: US$
Leverage: 1:30 | 1:100
Trading Platforms: Amana App
Regulation: FCA, CySEC, DFSA, LFSA, FSC
Headquarters: UK
Founded: 2010
Regulatory Licenses:
- Amana Financial Service UK Ltd - authorized by FCA (UK) registration no. 605070
- Amana Capital Ltd - authorized by CySEC (Cyprus) registration no. 155/11
- Amana Financial Services (Dubai) Ltd - authorized by DFSA (Dubai) registration no. F003269
- AFS Global Ltd - authorized by LFSA (Malaysia) registration no. MB/18/0025
- ACG International Ltd - authorized by FSC (Mauritius) registration no. C118023192
Updated on April 8, 2024
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In our comprehensive and meticulous review process, we evaluate brokers against a set of stringent criteria, ensuring that our analysis is both thorough and unbiased. This involves a detailed examination of the broker's regulatory framework, trading platforms, asset offerings, account types, fees, spreads, customer service, and educational resources. By comparing Amana Capital against a pool of over 1000 brokers, we aim to provide a clear and comprehensive overview of its services, strengths, and areas for improvement, ensuring that our readers are well-informed to make the best trading decisions.
Amana Capital is a distinguished financial services group, operating across international markets with offices in the UK, Cyprus, UAE, Lebanon, and Malaysia. The broker offers a diverse range of financial instruments, including Forex, Stocks, ETFs, Commodities, Indices, Futures, Derivatives, and Cryptocurrencies. Comprising five main entities - Amana Financial Service UK Ltd, Amana Capital Ltd (Cyprus), Amana Financial Services (Dubai) Ltd, AFS Global Ltd (Malaysia), and ACG International Ltd (Mauritius) - Amana Capital has expanded its global reach, providing direct access to worldwide markets through cutting-edge technology. This positions the broker as a preferred choice for both individual and institutional investors seeking comprehensive brokerage services.
Pros
Offers competitive and affordable trading costs.
Provides highquality education and research resources.
Adheres to multiple regulations, ensuring a safer trading environment.
Cons
Account conditions and fees may vary, potentially higher for some entities.
Does not offer 24/7 customer support.
Throughout its years of service, Amana Capital has garnered recognition from esteemed publications, marking its journey as an Award-Winning Brokerage company. This accolade highlights the advantages and superior services traders can enjoy with Amana Capital, reinforcing its position as a top-tier broker in the industry.
Amana Capital is definitely not a scam. It is regulated by the top-tier authority, the Financial Conduct Authority (FCA), among others, marking it as a safe and low-risk option for Forex trading. The broker's adherence to strict regulatory standards across multiple jurisdictions underscores its legitimacy and commitment to providing a secure trading environment.
Is Amana Legit?
Regulated by five respected local authorities, including the FCA and CySEC, Amana Capital is undeniably legitimate. These regulations mandate the broker to adhere to the highest standards of operational integrity, including investor protection, risk management, and operational standards. Our reliability ranking for Amana stands at 8.5 out of 10, reflecting its solid reputation and the provision of services through both regulated and offshore entities. Additionally, the broker ensures safe trading conditions, complemented by measures such as negative balance protection, which safeguards clients during volatile market conditions or unexpected events.
Leverage serves as a powerful tool for traders, enabling them to participate in the market with a smaller initial investment. Nonetheless, it's essential to grasp fully the mechanics of leverage and the risks it carries, as it can significantly amplify both profits and losses. Amana Capital offers leverage in compliance with regulations from the FCA, CySEC, DFSA, LFSA, and FSC:
For traders in the UK, leverage is capped at a maximum of 1:30 for major currency pairs and 1:10 for commodities. European traders have access to a maximum leverage of 1:30 for major currency pairs. Meanwhile, clients under the international entity are allowed leverage up to 1:100 for professional trading purposes.
According to our comprehensive analysis of over 1000 brokers, Amana Capital provides account configurations not strictly based on trade size but rather aimed at delivering personalized trading solutions for those interested in Forex and CFDs. Classic accounts feature specific fee structures, whereas Active Traders accounts benefit from interbank spreads and commission fees. Moreover, the Elite service, Shares Trading, and Copy Trading accounts are designed to cater to the unique needs associated with their respective trading styles. The broker also offers a Demo account for those looking to practice trading strategies. All account options come equipped with competitive spreads, leverage up to 1:100, availability of mini and macro lots, market execution with the possibility of positive slippage, and no re-quotes.
How to Open Amana Live Account?
Opening an account with Amana Capital is straightforward. Follow these steps:
Visit the “Open an Account” page and select it.
Fill in the necessary personal information (Name, email, phone number, etc.).
Provide proof of identity and residency by uploading the required documents.
Complete an electronic quiz to verify your trading knowledge and experience.
Once your account is verified and activated, proceed with depositing funds.
By opening an account with Amana Capital, traders gain access to a broad spectrum of financial instruments, including Forex, CFDs, Stocks, ETFs, Commodities, Indices, Futures, Derivatives, and Cryptocurrencies, all customizable to align with individual trading objectives and preferences. The Amana Markets Range scores a notable 4.5 out of 5, reflecting its extensive selection of trading instruments.
Amana Capital's fee structure is determined by the account type selected, which in turn is designed to match the instrument or asset being traded. Catering to both novice and professional traders, the broker offers suitable account types and technological solutions, ensuring all orders are executed with market execution, varying according to trading volume and platform choice. Additionally, traders should be aware of the overnight policy, where a rollover, swap, or overnight fee is applied to positions held for more than a day. In our extensive comparison of over 1000 brokers, Amana Capital's fees rank as low to average, with an overall score of 4.3 out of 5.
Our comprehensive analysis reveals that Amana Capital provides its clients with competitive floating spreads on certain account types and trading instruments. The EUR/USD pair, for instance, enjoys an average spread of 1.4 pips. Our comparative research positions Amana's spreads as moderately competitive, assigning them a rating of 4.0 out of 5. While these spreads are competitive, it's noteworthy that the average Forex spread might be slightly above the industry norm.
In our findings, Amana Capital ensures swift deposits and withdrawals by partnering with reputable banking institutions. The availability of payment methods and any associated processing fees for deposits or withdrawals may vary by jurisdiction. We have rated Amana's funding methods as highly efficient, scoring them 4.3 out of 5. The broker stands out for its low fees and a variety of account-based currencies.
Pros
Offers a broad spectrum of payment methods including Bank Wire, Credit/Debit cards, Skrill, Neteller, and WebMoney
The Amana Prepaid Card provides a convenient payment solution similar to a banking card
Cons
Some payment methods may incur fees or require a minimum deposit
Regarding the minimum deposit, Amana Capital sets itself apart by not imposing a mandatory minimum deposit requirement for account opening, making it an accessible option for traders of all financial standings. However, certain payment methods might have specific minimum deposit amounts or entail additional fees.
Withdrawals at Amana can be expedited through the online account portal, generally processed within 1-2 business days, though using the prepaid card for withdrawals might attract fees, and other methods could also incur charges depending on the jurisdiction.
Amana Capital caters to diverse trading preferences with its proprietary trading platforms. Our evaluation applauds the Amana Trade platform for its user-friendly, web-based interface that facilitates global market access. The Amana Invest platform is tailored for social and copy trading, while the Amana Mobile app supports trading on iOS and Android devices with efficiency. These platforms incorporate the latest technological advancements and offer sophisticated trading tools and features, meriting a rating of 4.0 out of 5.
Amana Capital ensures that client support is readily accessible 24/5 through various channels including phone, live chat, email, and social media platforms such as Facebook, Twitter, Telegram, and WhatsApp. The support team, comprised of trading experts, is equipped to address technical, operational, and general inquiries, alongside providing valuable recommendations. Our assessment of Amana's customer support yields a positive rating of 4.3 out of 5, highlighting the fast, informed, and accessible nature of the service.
The broker enriches traders' learning experiences with a diverse suite of educational resources, including videos, investment courses, blogs, an economic calendar, news, and more. Live webinars and seminars hosted by market experts offer additional learning opportunities. Covering a broad range of topics such as market analysis, trading strategies, risk management, and more, Amana Capital's educational offerings receive a rating of 4.3 out of 5, reflecting the high quality of materials, research, and analysis provided.
Amana Capital distinguishes itself as a highly regulated broker, offering a vast selection of trading instruments and platforms suited to both novice and experienced traders. The broker’s commitment to fostering a secure and reliable trading environment is evident through its adherence to stringent regulations, negative balance protection, and investor compensation fund protection. With competitive spreads, flexible leverage options, and access to mini and macro lots, traders also benefit from a wealth of trading tools, educational resources, and dependable customer support, positioning Amana as a compelling choice for individuals venturing into online trading.
However, while Amana Capital generally receives positive feedback from its clientele, it is advisable for traders to conduct their due diligence prior to registration, ensuring the broker aligns with their trading needs and preferences. Based on our comprehensive analysis and the insights of financial experts, Amana Capital is highly recommended for a diverse range of traders, including those from the UK, Europe, and international markets, as well as beginners, advanced traders, and those interested in NDD/STP execution, competitive spreads and fees, high-quality educational materials, reliable customer support, copy trading, and EA/auto trading.
