amana Information

Based in the United Arab Emirates, Amana is an online trading platform, offering 6,000+ tradable products, including Forex, Commodities, Stocks, Cryptocurrencies, ETFs, Indices, and Metals. It claims to offer leverage up to 1:100 and a spread 70% lower. This company holds multiple licenses from various authorities, while most of the licenses are effective, some of the licenses are revoked, exceeded, or suspected to be a fake clone.

Pros and Cons

Is amana Legit?

amana operates under various regulatory frameworks across different jurisdictions. However, when it comes to regulatory status, while most entities are regulated, some have had their licenses revoked or are flagged as “Suspicious Clone” by certain authorities.

Regulated Country	Regulated Authority	Regulatory Status	Regulated Entity	License Type	License Number
	Dubai Financial Services Authority (DFSA)	Regulated	Amana Financial Services (Dubai) Limited	Retail Forex License	F003269
	Capital Markets Authority LEBANON (CMA)	Regulated	Amana Capital SAL	Retail Forex License	26
	BANQUE DU LIBAN (BDL)	Revoked	Amana Capital S.A.L.	Financial Service	60
	Labuan Financial Services Authority (LFSA)	Regulated	AFS Global Limited	Straight Through Processing (STP)	MB/18/0025
	Securities and Commodities Authority (SCA)	Exceeded	Amana Mena Promotional Services L.L.C	Investment Advisory License	20200000255
	Cyprus Securities and Exchange Commission (CySEC)	Suspicious Clone	Amana Capital Ltd	Market Maker (MM)	155/11
	Financial Conduct Authority (FCA)	Suspicious Clone	Amana Financial Services UK Limited	Straight Through Processing (STP)	605070

What Can I Trade on amana?

amana asserts to offer over 6,000 types of market instruments, including Forex, Commodities, Stocks, Cryptocurrencies, ETFs, Indices, and Metals.

Account Type

There are three types of car available on this platform, Meta Trader 4 (Hedged), Meta Trader 5 (Hedged), and Meta Trader 5 (Netting), each comes with different trading conditions.

Leverage

Amana offers distinct leverages based on the asset class. 1:100 is the maximum leverage on this platform. Traders can contact the customer support team to request more leverage.

Fees

The spread on this platform is committed to being 70% lower. According to amana, traders are allowed to enjoy commission-free on all assets.

However, amana charges overnight financing fees on US Stock Derivatives (OTC), US ETFs derivatives, Regional stock Derivatives, Leveraged crypto, Forex Derivatives (OTC), International Stock derivatives (OTC), and Spot market derivatives (OTC).

Plus, amana charges a clearing fee on Regional stocks (exchange traded/OTC) and Regional stock derivatives (OTC).

Trading Platform

Traders on this platform get access to amana App, which is an all-in-one trading app that grants access to 5,500+ commission-free assets across global and regional markets. From stocks, cryptocurrencies, forex, metals, and indices to ETFs, commodities, and more.

In the meantime, amana also provides access to MT4 and MT5, which are popular trading platforms widely used for forex, CFDs, and other financial markets trading.

• MT4 is simpler and highly popular for forex trading.
• MT5 offers more advanced features, supports more markets, and is more flexible for algorithmic trading.

Deposit and Withdrawal

These are the payment options available on this platform: Visa, Mastercard, amana Prepaid Card, Apple Pay, Wire Transfer, UAE instant banking, Neteller, Whish Money (Lebanon), Skrill, and digital currencies.

Amana claims that traders can enjoy zero fees on all card deposits and withdrawals.

BP Prime Information

BP Prime is the trading name of Black Pearl Securities Limited, a brokerage company who was established in 2013 and deals in forex, commodities and indices tradings for both retail and professional clients. The minimum deposit requirement is pretty high from $5,000 or equivalent. A demo account and the availability of MT5 platform enhances customer experiences. While for institutional clients, the broker offers bespoke liquidity and technology solutions as well.

Furthermore, the broker currently operates under decent regulation from FCA, which to some extent guarantees customer protection and compliance to industry standard set by the institution.

Nevertheless, there are 5 pieces of WikiFX exposure to withdrawal issues, which indicates the necessity of service improvements of this broker. You should pay attention to this.

Pros and Cons

Is BP Prime Legit?

BP Prime is currently regulated by FCA (Financial Conduct Authority) in United Kingdom, with a license numbering at 688456, which guarantees legitimacy and credibility in a certain level.

Regulated Country	Regulator	Current Status	Regulated Entity	License Type	License No.
	FCA	Regulated	Black Pearl Securities Limited	Straight Through Processing (STP)	688456

What Can I Trade on BP Prime?

BP Prime offers trading services in forex, commodities and indices for both retail and professional clients. While for institutional clients, customized liquidity and technology solutions are available to help companies to grow and develop their business scope and scale.

Account Type/Fees

BP Prime offers demo accounts for clients to practice and test trading strategies.

While for live accounts, the broker offers a Standard accountfor retail clients with a high minimum deposit of $5,000 or equivalent. In this account, the broker charges no commissions for trading, and claims competitive spread, but with no details.

Professional clients, on the other hand, are provided with a Professional account with higher leverage but less protection. To be eligible to open a professional account, you need to place 10 relavant trades of a significant size per quarter in last year, own a financial instrument portfolio exceeding $500,000, and have worked in the financial sector for at least one year.

Leverage

BP Prime offersa leverage level of up to 1:30 for some currency pairs in the Standard account, which means you can control a larger position of 30 times of your initial deposit.

Professional accounts have higher leverage, but are not currently disclosed per the broker's website. You need to check with the company directly to get precise information.

Moreover, you should always be very prudent to use such tool since leverage not only amplify profits, but losses will be augmented at same level as well.

Trading Platform

Victory indicates the use of the industry-leading MetaTrader 5 platform through web, which allows you to trade anywhere on the go.

The MT5 platform is renowned and recognized worldwidely for their advanced charting tools and robust functionalitiess such automated transaction execution.