Amana Capital

Overview

Established in 2011 and regulated by the Cyprus Securities and Exchange Commission (CySEC), Amana Capital Ltd is a Cyprus-based brokerage offering access to a diverse array of tradable assets, including Forex, Indices, ETPs (comprising ETFs and ETNs), Precious Metals, Energy, Commodities, Digital Assets, and Share CFDs. Clients can opt for various account types, including individual, joint, corporate, and demo accounts, and gain access to user-friendly MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms with competitive spreads starting at 0.4 pips for Forex on the Classic Account and a maximum leverage of up to 1:500. While the brokerage provides customer support via phone and email, as well as a demo account for practice, there is no mention of specific educational resources or the minimum deposit requirement on their platform.

Regulation

Amana Capital Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring compliance with rigorous financial industry standards. This regulation includes:

1. Investor Protection: Amana Capital must safeguard client interests, maintain segregated client funds, and provide transparent trading practices.

2. Market Integrity: CySEC monitors Amana Capital's market-making activities to prevent manipulation and ensure market fairness.

3. Licensing: Amana Capital holds a specific license (License No. 155/11) for Market Making activities, authorized and supervised by CySEC.

4. Reporting: The company reports financial and operational data regularly to CySEC for compliance checks.

5. Risk Management: Robust risk management practices are required to mitigate trading risks.

6. Client Communication: Clear and honest communication with clients, including risk disclosure, is mandatory.

7. Regulatory Review: CySEC conducts periodic audits to ensure ongoing compliance.

8. Complaint Resolution: Amana Capital must address client complaints fairly and promptly.

Overall, CySEC's regulation of Amana Capital ensures a secure, transparent, and compliant environment for financial activities.

Pros and Cons

Amana Capital offers a regulated environment with diverse market instruments, competitive spreads for forex, and high leverage. However, clients may find limited customer support options and a lack of educational resources.

Market Instruments

Amana Capital offers a diverse range of market instruments for investors and traders. Here's a concise description of these instruments:

1. Indices: Amana Capital provides access to index trading, allowing investors to track and speculate on the performance of market benchmarks.

2. Share ETP: Amana Capital offers Share ETPs, including ETFs and ETNs, enabling investors to trade assets that track specific market segments.

3. Precious Metals: Investors can trade precious metals like gold, silver, platinum, and palladium, which are known for their value and hedging potential.

4. Share ETF: Amana Capital facilitates trading in ETFs, which are investment funds traded on stock exchanges, offering diversification and liquidity.

5. Forex: Amana Capital allows forex trading, providing access to the global foreign exchange market where currencies are bought and sold.

6. Energy: Energy commodities such as crude oil and natural gas are available for trading, influenced by supply, demand, and geopolitical factors.

7. Commodities: Amana Capital offers a range of commodities, including agricultural products, metals, and energy resources, suitable for diversification and investment.

8. Digital Assets: Investors can trade digital assets, including cryptocurrencies like Bitcoin and Ethereum, known for their digital and decentralized nature.

9. Share CFDs: Amana Capital provides Share CFDs, allowing traders to speculate on the price movements of individual stocks without owning the underlying shares.

These instruments cater to a variety of trading and investment strategies, enabling clients to access different asset classes and markets through Amana Capital's trading platform.

Account Types

Amana Capital offers a variety of account types to accommodate the diverse needs of its clients. Here's a description of each account type:

1. Individual Account:

1. An individual account is designed for single individuals who want to trade or invest in financial markets.

2. It allows an individual to manage and control their own trading or investment activities independently.

3. Typically, it's suitable for personal trading, investment, or speculative purposes.

2. Joint Account:

1. A joint account is intended for two or more individuals, such as spouses, family members, or business partners, who want to share ownership and control of the account.

2. It allows joint account holders to trade or invest together, and decisions regarding the account are typically made jointly.

3. Joint accounts can be useful for managing shared investments or trading activities.

3. Corporate Account:

1. A corporate account is tailored for businesses and corporate entities, including companies, partnerships, or organizations.

2. It enables businesses to engage in trading or investment activities using corporate funds.

3. Corporate accounts may have specific requirements and documentation related to the legal entity's registration and authorization.

4. Demo Account:

1. A demo account, also known as a practice or simulated account, is a risk-free account offered by Amana Capital.

2. It is designed for educational purposes and allows users to practice trading or familiarize themselves with the platform using virtual funds.

3. Demo accounts simulate real market conditions without involving actual money, making them ideal for learning and strategy testing.

Clients can choose the account type that aligns with their specific goals, whether it's personal trading, shared investments, or corporate financial activities. Each account type may have its own set of requirements, features, and benefits, so clients should review the details provided by Amana Capital to select the one that best suits their needs.

Leverage

Amana Capital offers a maximum trading leverage of up to 1:500.

Leverage in trading is a borrowed capital provided by a broker to a trader to increase their trading position beyond what would be possible with their own capital alone. In this case, a leverage of 1:500 means that for every $1 of the trader's own capital, they can control a position size of up to $500 in the market.

High leverage can amplify both potential profits and potential losses in trading. While it offers the opportunity for traders to magnify their gains, it also increases the risk of significant losses. Therefore, traders should exercise caution when using high leverage and have a solid risk management strategy in place to protect their capital. It's essential to understand how leverage works and its implications before trading with it.

Spreads & Commissions

Amana Capital provides spreads and commissions across various types of trading accounts:

Spreads:

• In the Individual Account, Forex traders can access spreads starting at 0.4 pips. This indicates that currency pair trading offers spreads, which can be advantageous for traders seeking cost-efficient options.

• It's important to note that there are no commissions associated with forex trading in this account. Instead, the primary cost is linked to the spread, offering transparency in trading costs.

Commissions:

• For futures CFDs, the broker applies a commission of $10 per lot. This commission is applied to each lot traded within futures CFDs.

• Share CFD trading incurs a commission of $0.02 per share, which is charged for each share CFD transaction.

Furthermore, Amana Capital does not impose overnight fees, which can be beneficial for traders who opt to keep positions open overnight.

It's crucial to bear in mind that the specific spreads and commissions may vary based on the chosen trading account type. Traders should thoroughly assess the account options and associated costs to determine the one that aligns with their trading preferences and strategies. The pricing structure, with no commissions for forex trading and spreads, can be appealing to traders looking for trading solutions.

Deposit & Withdraw

Amana Capital offers multiple deposit and withdrawal options, providing flexibility for clients to manage their funds conveniently:

Deposit Options:

• Credit Card: Clients can fund their trading accounts using credit cards. This option allows for quick and straightforward deposits, often with funds available for trading almost immediately.

• Bank Wire Transfer: Bank wire transfers provide a secure way to deposit funds directly from a bank account to the trading account. While it may take a bit longer than other methods, it is a reliable and widely accepted option.

• Neteller: Neteller is an electronic wallet (e-wallet) service that allows clients to deposit funds into their trading accounts. E-wallets can be convenient for online transactions.

• Skrill: Skrill, similar to Neteller, is an e-wallet that facilitates quick and secure deposits into trading accounts.

Withdrawal Options:

• Credit Card: Clients can withdraw funds to their credit cards, providing a straightforward way to access their profits.

• Bank Wire Transfer: Withdrawals can be made via bank wire transfer, ensuring that funds are transferred directly to the client's bank account.

• Neteller: Clients can also use Neteller for withdrawals, making it easy to access their funds electronically.

• Skrill: Skrill offers a convenient option for clients to withdraw their funds electronically.

Trading Platforms

Amana Capital provides access to two widely recognized and robust trading platforms, namely MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms offer traders a powerful and versatile environment for executing their trading strategies.

MetaTrader 4 (MT4):

• MetaTrader 4 is a well-established and popular trading platform known for its user-friendly interface and extensive charting tools.

• Traders can access a wide range of technical indicators and analysis tools to make informed trading decisions.

• MT4 supports automated trading through Expert Advisors (EAs), enabling traders to implement algorithmic strategies.

• It offers a seamless trading experience with real-time data, one-click trading, and customizable chart layouts.

MetaTrader 5 (MT5):

• MetaTrader 5 is an advanced trading platform that builds upon the features of MT4, offering additional assets and functionality.

• Traders can access a broader range of financial instruments, including stocks and commodities, in addition to forex.

• MT5 includes an economic calendar and integrated news feed, helping traders stay updated on market events.

• Like MT4, it supports automated trading through Expert Advisors and allows for custom indicators and scripts.

• MT5 offers a more comprehensive set of timeframes and chart types for in-depth analysis.

Customer Support

Amana Capital's customer support options are notably limited, leaving clients with few avenues for assistance. The primary contact method is a provided phone number, but even this channel is restricted to English-speaking clients. For those seeking alternative means of contact, the only option available is email communication. It's essential to be aware that the customer support framework appears to lack the comprehensive and accessible assistance that many traders may expect from their brokerage. This limited range of contact options may pose challenges for clients who require timely and multi-language support.

Educational Resources

Amana Capital appears to offer limited educational resources. There is no mention of educational materials or resources such as tutorials, webinars, courses, or articles on their platform. Traders and investors seeking educational support to enhance their knowledge and skills may find the absence of such resources a drawback, as it may limit their ability to learn and make informed trading decisions through the broker's platform.

Summary

Amana Capital is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring adherence to financial industry standards, including investor protection, market integrity, and risk management. The broker offers a range of market instruments, including indices, ETPs, precious metals, forex, and more. Various account types cater to individual, joint, corporate, and demo trading needs. Leverage of up to 1:500 is available, and while spreads are competitive, commissions apply to certain instruments. Multiple deposit and withdrawal options are provided. Amana Capital offers MetaTrader 4 and MetaTrader 5 trading platforms. Customer support is limited in contact options and languages. Educational resources appear to be minimal, which may be a limitation for those seeking learning materials.

FAQs

Q1: What is the maximum leverage offered by Amana Capital？

A1: Amana Capital offers a maximum leverage of up to 1:500.

Q2: Are there any commissions for forex trading on the Classic Account？

A2: No, there are no commissions associated with forex trading on the Classic Account; the primary cost is based on spreads.

Q3: How can I contact Amana Capital's customer support？

A3: You can contact Amana Capital's customer support by phone at +357 25 25 79 80 or via email at supportcy@amanacapital.com.

Q4: What trading platforms does Amana Capital provide？

A4: Amana Capital offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

Q5: Does Amana Capital offer educational resources？

A5: Amana Capital appears to have limited educational resources, and there are no mentions of tutorials, webinars, or courses on their platform.