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The WikiFX Score of this broker is reduced because of too many complaints!

Amana Capital

United Arab Emirates|5-10 years|
Retail Forex License|White label MT4|Regional Brokers|Lebanon Financial Service Revoked|High potential risk|

https://amana.app/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

AmanaCapital-Demo

United States
MT4
4

Influence

C

Influence index NO.1

United Arab Emirates 3.05
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

4
Server Name
AmanaCapital-Demo MT4
Server Location United States

Influence

Influence

C

Influence index NO.1

United Arab Emirates 3.05

Surpassed 23.09% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+971 42769525
support@amana.app
https://amana.app/
https://www.facebook.com/amanafn

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+971 42769525

Broker Information

More

Check whenever you want

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WikiFX Risk Alerts 5
Previous Detection : 2024-04-25
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • LebanonBDL (license number: 60) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

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Expose

Amana Capital · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

Amana Capital Review Summary in 10 Points
Founded 2010
Registered Country/Region United Arab Emirates
Regulation DFSA, CMA
Market Instruments cryptocurrencies, stocks, ETFs, commodities, currencie
Demo Account Available
Leverage 1:100
Spreads floating
Trading Platforms MT4/5, amana app
Minimum Deposit $50
Customer Support 24/5 Live chat, phone, email, online messaging, WhatsApp, Telegram, and Messenger

What is Amana Capital?

Amana Capital is a global brokerage firm registered in the United Arab Emirates that provides online trading services in forex, commodities, and other assets. The company offers a range of trading platforms and tools, including MetaTrader4 and MetaTrader5, to suit the needs of a wide range of investors. The firm is regulated by various financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Dubai Financial Services Authority (DFSA) in the UAE.

Amana Capital home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• Regulated by DFSA and CMA • Reports of unable to withdraw and scams
• Wide range of trading instruments • Unspecified spreads
• Multiple account types • Commission charged
• Demo accounts available • Overnight fees for derivative products
• MT4/5 supported • Limited availability of customer support on weekends and no 24/7 service
• Low minimum deposit
• Popular deposit and withdrawal options without fees
• Rich educational resources
• Range of customer service options, educational resources, and social media presence

Amana Capital Alternative Brokers

    There are many alternative brokers to Amana Capital depending on the specific needs and preferences of the trader. Some popular options include:

    • OctaFX - offers competitive spreads and low commissions, making it a good choice for experienced traders.

    • FXOpen - With a user-friendly website and mobile app, FXOpen is a good option for beginner traders looking for easy access to the markets.

    • Hantec Markets - offers a range of trading platforms and tools for both novice and experienced traders, making it a versatile choice for investors of different levels.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Amana Capital Safe or Scam?

    The Group comprises four main entities- Amana Financial Services-UK, Amana Capital-Lebanon, Amana Capital-Cyprus, and SouqElmal.com – UAE and each entity is regulated and authorized by different reputable regulatory bodies i.e. FCA, BDL and CySec respectively.

    • Amana Financial Services UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA, suspicious clone) Firm Reference Number 605070;

    • Amana Financial Services (Dubai) Limited is authorized and regulated by the Dubai Financial Services Authority (DFSA) (License number F003269);

    • Amana Capital LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC, suspicious clone), License Number 155/11;

    • Amana Capital SAL is authorized and regulated by the Lebanese Capital Markets Authority (CMA) as a Financial Intermediary Institution (Authorization number 26).

Though Amana Capital has valid DFSA and CMA regulatory license, it is important to remember that investing always carries some level of risk and it is recommended to do thorough research before investing in any financial service or product.

Market Instruments

Amana Capital offers a wide variety of market instruments to investors. These include over 1,000 commission-free products across global, local, and regional markets. This means that investors can access a diverse range of financial instruments through a single platform. Some of the markets that Amana Capital covers include cryptocurrencies, stocks, exchange-traded funds (ETFs), commodities, and currencies.

Cryptocurrencies, in particular, have become increasingly popular in recent years, and Amana Capital offers 100+ commission-free cryptos to investors.

cryptos

In addition to global stocks, ETFs are another popular investment option, and Amana Capital offers a range of options to suit investor preferences.

stocks

Commodity trading is another area where Amana Capital has expertise. Investors can trade in a variety of commodities, including precious metals, agricultural products, and energy commodities such as crude oil. This offers investors the opportunity to hedge against inflation and currency fluctuations, among other factors.

commodities & currencies

Finally, Amana Capital offers a range of currency trading options, with access to a bunch of global currency pairs. This includes major currency pairs such as the USD/EUR and USD/JPY, as well as emerging market currencies.

Accounts

Live account

Amana Capital offers a range of account types to suit the needs of different types of investors, with a minimum deposit of $50. The Forex & CFDs account offers access to trading in Forex, commodities, indices, and cryptocurrencies. This account is ideal for those who mainly trade currencies and CFDs.

For active traders who frequently trade in high volumes, Amana Capital offers an Active Traders account. The Share account is for investors who mainly trade in stocks. The Elite Service account is a premium account that offers a range of benefits, including access to a dedicated account manager and exclusive market analysis. This account is suited for high net worth individuals who require personalized service. Finally, Amana Capital offers a Copy Trading account, which allows investors to automatically copy the trades of experienced traders. This is an ideal option for those who are new to trading or who prefer a more passive approach to investing.Demo account

Amana Capital also offers demo accounts that allow investors to trade instruments without risking real money. Beginners can learn the basics of trading, or experienced traders can use it to practice their trading strategies. The Amana Capital demo account is available for 30 days, on both MT4 and MT5 desktop and mobile apps.

Leverage

Amana Capital offers leverage on its trading accounts, which can be used to amplify potential returns but also increases the risks of trading. By default, the leverage for trading currencies, metals, and commodities is set at 1:100. This means that for every 1in trading capital,traders have the option of taking positions up to 100 in value.

However, different assets have different leverage limits. For shares and cryptocurrencies, for example, the leverage varies between 1:2 and 1:20, depending on the asset being traded. It is important for investors to be aware of the specific leverage limits for different assets and to adjust their trading strategies accordingly.

It is also worth noting that traders based in Europe who have accounts with Amana Capital will need to comply with ESMA regulations, which require maximum forex leverage of 1:30. This is intended to protect retail investors from excessive risk-taking, and traders should be aware of these limits when making trading decisions. Ultimately, the level of leverage that is appropriate for any given trader will depend on their individual risk tolerance and investment objectives.

Spreads & Commissions

Amana Capital offers floating spreads on its trading accounts, which means that the spreads can change depending on market conditions. Forex trading only charges from spreads, meaning there are no additional commissions.

For indices, energies, and commodities trading, a commission of USD 5 per lot is charged, with a minimum commission of USD 15 for each trading of stock CFDs. This commission structure can vary depending on the asset being traded and investors should check with Amana Capital for the specific rates for each asset.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread (pips) Forex Commissions (per lot)
Amana Capital Floating None (spread-only)
OctaFX 0.4 None (spread-only)
FXOpen 0.5 None (spread-only)
Hantec Markets 1.2 None (spread-only)

Please note that these values are approximate and may vary depending on market conditions and the type of account you have with each broker. It's always recommended to check with the respective brokers for the most up-to-date and accurate information on spreads and commissions.

Trading Platforms

Amana Capital offers two trading platforms to its users – MetaTrader4 (MT4) and MetaTrader5 (MT5). These platforms are suitable for novice and experienced traders alike and offer advanced technical analysis tools and automated trading functions (EA), as well as mobile applications.

MT4 is a user-friendly platform that allows traders to view orders, transactions, and account details, and keep track of the latest market conditions. It provides a flexible trading environment and various technical analysis tools, making it a popular choice for traders of all levels.

MT5 is an optimized version of MT4 and is the latest generation of trading platforms. It offers a more intuitive and concise interface while providing more powerful analysis functions, including various trend lines, icons, and other graphical objects. MT5 also includes 12 new chart time frames and a built-in economic calendar, making it easier for traders to make informed decisions.

Both MT4 and MT5 platforms allow users to place orders, monitor the market, view account details, copy transactions, and rely on automated trading strategies. These platforms are available on PC/Mac, mobile phones, tablets, and other devices, allowing traders to access the markets from anywhere at any time.

Amana Capital also offers a mobile app, allowing traders to access the markets and their accounts on-the-go. The app provides access to all the trading tools and features of the MT4 and MT5 platforms and is available for download on both iOS and Android devices.

Mobile App

Overall, Amana Capital's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders.

See the trading platform comparison table below:

Broker Trading Platform
Amana Capital MetaTrader4 (MT4), MetaTrader5 (MT5), Mobile App
OctaFX MetaTrader4 (MT4), MetaTrader5 (MT5), cTrader
FXOpen MetaTrader4 (MT4), MetaTrader5 (MT5), TickTrader
Hantec Markets MetaTrader4 (MT4), Currenex, Hantec MT4 Mobile

Please note that this table provides a general overview of the trading platforms offered by each broker. The features and availability of specific platforms may vary, so it's recommended to visit the respective broker's website for more detailed information.

Deposits & Withdrawals

Amana Capital offers a range of popular deposit and withdrawal options for its investors. Deposits can be made via bank wire transfer, international credit/debit cards, UnionPay, Neteller, Skrill, and Epay/FasaPay. Bank wire transfers typically take 3-5 working days and incur a fee of £6. However, deposits made through international credit/debit cards, UnionPay, Neteller, Skrill, and Epay/FasaPay are instantly received.

Withdrawals can be made via bank wire transfer, international credit/debit cards (bought by Amana), bank debit cards (bought by Amana), Neteller, and Skrill. Bank wire transfers do not incur a fee, while international credit/debit cards and bank debit cards, as well as Neteller and Skrill, have handling fees ranging from 2% to 15%, depending on the method used and the currency.

Investors should also be aware of any fees or limitations placed on deposits and withdrawals by their banks or payment providers. Overall, Amana Capital offers a convenient and varied selection of deposit and withdrawal methods to suit the needs of its global client base.

Amana Capital minimum deposit vs other brokers

Amana Capital Most other
Minimum Deposit $50 $100

Fees

Amana Capital does not charge any deposit/withdrawal fees or inactivity fees. This means that investors can deposit and withdraw funds from their accounts without incurring any additional costs. Additionally, there are no fees for holding overnight positions in certain assets, such as US stocks, US ETFs, regional stocks, and cryptocurrencies.

However, for derivative products, overnight fees do apply. These fees are calculated based on the size of the position and the holding period. It is important for investors to be aware of the specific fees associated with each asset or product they trade and to factor these into their overall trading costs.

Fees

See the fee comparison table below:

Broker Deposit Fee Withdrawal Fee Inactivity Fee
Amana Capital No fees No fees No inactivity fees
OctaFX No fees No fees No inactivity fees
FXOpen No fees No fees No inactivity fees
Hantec Markets No fees Varies depending on the withdrawal method No inactivity fees

Customer Service

Amana Capital offers a range of customer service options to its investors. Customers can get in touch 24/5 with the broker via live chat, phone, email, online messaging, WhatsApp, Telegram, and Messenger. This provides a range of options for investors to reach out for help and support.

Customer Service
online messaging
chat support

In addition to these contact methods, the broker also has an FAQ section on its website that addresses some of the most common questions and concerns that investors may have. This helps to streamline the support process and allows customers to quickly and easily find answers to their queries.

FAQ

Amana Capital also maintains a presence on several social networks, including Facebook, Twitter, Instagram, LinkedIn, YouTube, and TikTok. Customers can follow the broker on these platforms for news, updates, and insights into the financial markets. This also provides an additional way for customers to interact with the broker and ask questions.

Facebook: https://www.facebook.com/chooseamana

Facebook

Twitter: https://twitter.com/chooseamana

Twitter

Instagram: https://www.instagram.com/chooseamana/

Instagram

YouTube: https://www.youtube.com/chooseamana

YouTube

TikTok: https://www.tiktok.com/@chooseamana

TikTok

Overall, Amana Capital's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Pros Cons
• A range of customer service options available • No 24/7 customer support
• FAQ section available on website for quick reference • Limited languages supported on customer service channels
• Active social media presence

Note: These pros and cons are subjective and may vary depending on the individual's experience with Amana Capital's customer service.

User Exposure on WikiFX

On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Education

Amana Capital offers a range of educational resources to help investors learn about trading and improve their skills. These resources include the Basics of Trading, a video library, a blog library, and investor tutorials.

The Basics of Trading is a comprehensive guide that covers all the essentials of trading, including market analysis, technical indicators, risk management, and trading strategies. This guide is suitable for beginners and provides a solid foundation for those who want to start trading.

Basics of Trading

The video library contains a variety of educational videos that cover a range of topics, such as technical analysis, chart patterns, and trading psychology. These videos are designed to help investors learn at their own pace and provide practical advice and tips for successful trading.

video library

The blog library is regularly updated with articles and analysis on the latest market trends and events. This resource can be helpful in keeping investors up-to-date with the latest developments in the financial markets, as well as providing insights into trading strategies and techniques.

blog library

Finally, investor tutorials are available to help investors learn how to use the trading platforms offered by Amana Capital, such as MT4 and MT5. These tutorials cover everything from basic platform navigation to more advanced trading functionalities.

Overall, Amana Capital's educational resources provide a comprehensive suite of tools for investors to learn about trading and improve their skills. This can be helpful for both novice and experienced traders looking to improve their performance in the financial markets.

investor tutorials

Conclusion

To sum up, Amana Capital offers a wide range of trading instruments, a comprehensive suite of trading platforms, and rich educational resources. The broker is regulated by various financial authorities and provides a transparent and reliable trading environment. However, this broker has received some reports of unable to withdraw and scams. It's important for investors to do their own research and due diligence before choosing a broker, and to be aware of any reports of fraudulent activity or issues with withdrawal.

Frequently Asked Questions (FAQs)

Q 1: Is Amana Capital regulated?
A 1: Yes. It is regulated by DFSA and CMA.
Q 2: Does Amana Capital offer demo accounts?
A 2: Yes.
Q 3: Does Amana Capital offer the industry leading MT4 & MT5?
A 3: Yes. Both MT4 and MT5 are available.
Q 4: What is the minimum deposit for Amana Capital?
A 4: The minimum initial deposit to open an account is $50.
Q 5: Is Amana Capital a good broker for beginners?
A 5: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

News

Amana Capital Appoints Joy Dabeet As Chief Marketing Officer

NewsAmana Capital Appoints Joy Dabeet As Chief Marketing Officer

2022-10-11 14:08

Leading online financial trading firm, Amana Capital, recently announced the appointment of Joy Dabeet as its new Chief Marketing Officer.

WikiFX
2022-10-11 14:08
News
Amana Capital Appoints Joy Dabeet As Chief Marketing Officer
AMANA CAPITAL STRENGTHENS TEAM WITH TWO SENIOR APPOINTMENTS

NewsAMANA CAPITAL STRENGTHENS TEAM WITH TWO SENIOR APPOINTMENTS

2022-10-11 14:06

UAE-based FX and CFDs broker, Amana Capital has made two new appointments to its product leadership team, selecting Matt Carstens to spearhead its product experience, along with Justin Biebel who will handle product implementation.

WikiFX
2022-10-11 14:06
News
AMANA CAPITAL STRENGTHENS TEAM WITH TWO SENIOR APPOINTMENTS
Amana announces new leadership appointments

NewsAmana announces new leadership appointments

2022-10-11 14:04

Dubai, UAE: Amana Capital, one of the leading online trading specialists in the MENA region, has announced two new appointments to its product leadership team to bring a world-class user experience to Amana’s customers in line with the company’s digital transformation. The firm has named tech veteran Matt Carstens as the new Director of Product Experience and Justin Biebel as Director of Product Implementation.

WikiFX
2022-10-11 14:04
News
Amana announces new leadership appointments
Amana Capital seeks Sh227m in new funding

NewsAmana Capital seeks Sh227m in new funding

2022-10-11 13:59

Fund manager Amana capital is seeking to raise $2 million (Sh227.8 million) in the form of debt and/or equity.

WikiFX
2022-10-11 13:59
News
Amana Capital seeks Sh227m in new funding

User Reviews

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Comments

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Sutii
more than one year
Amana Capital is an impressive platform. What stood out to me initially was the speed at which my orders were executed - it's efficient and reliable. I appreciate the transparency and forthright nature of the company as well, it really puts me at ease when trading. Also, the support staff deserve a shout out for their dedication and assistance. Whenever I've had questions or needed help, they've been there, providing thorough and helpful answers. All in all, my trading with Amana Capital has been a positive one so far and I look forward to seeing it continue in this vein.
2024-04-19 11:26
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0
0
FX1638910292
more than one year
I opened an account with Amana Capital on Thursday, and it was activated the same day. I deposited $400. However, on Friday, they closed my account and prevented me from withdrawing any funds. They claimed they needed to send documents to Cyprus due to the current climate, even though I hadn't made any trades on my account. I didn't even log into MT4. I want my rights. I didn't violate any terms, nor did I make any trades. I just want my deposit back unconditionally. I didn't even call the support team, and they told me I violated terms, leaving me helpless when there were no transactions in the account. I want my rights; this is a scam, and I want my money back.
2024-03-10 22:29
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0
0
Mr.T
more than one year
I traded with this broker when I was a beginner in the forex trading, and this platform did give me a good impression, no deposit or withdrawal fees, inactivity fees. Their customer support was good…
2023-02-14 09:44
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0
0
FX1146475754
more than one year
I saw that the staff of wikifx conducted a Tianyan site survey in the UK... This so-called foreign exchange broker registered in the UK has no physical office at all. Combined with the complaints on wikifx, it is undoubtedly a liar!
2022-12-13 11:30
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0
0
FX1044735726
more than one year
I have been trading with amana for months now and my withdrawals have been normal. But now I see many complaints against this broker in wikifx. Do I have to withdraw all my money? Well, I still have almost 3 thousand euros. If this broker scams me, can wikifx help me???
2022-11-24 18:29
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1
0
FX1020990252
more than one year
Recently, I saw a lot of posts on the Internet exposing this broker, so i worry about whether I would encounter the same problem, and then i request to withdraw all the money in my account. As a result, my account was frozen. They dont let me withdraw, but let me deposit more..they are crazy!
2022-11-17 16:26
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0
0
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