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

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.

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

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.

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

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.

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:

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.

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:

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

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.

See the fee comparison table below:

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.

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.

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

Twitter: https://twitter.com/chooseamana

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

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

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

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

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.

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.

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.

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.

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.

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)

What is LMAX Group？

LMAX Group is a UK-based multilateral trading facility (MTF) that offers forex and cryptocurrency trading to retail and institutional clients. It was founded in 2010 and is regulated by the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CYSEC). LMAX is known for its transparent and fair execution model, as well as its low latency and high-speed trading technology. The company's headquarters are located in London, and it has additional offices in New York, Tokyo, and Hong Kong.

What Type of Broker is LMAX Group？

LMAX is an electronic communication network (ECN) broker that operates a multilateral trading facility (MTF) for forex and cryptocurrency trading. It is a pure agency broker, which means it does not take positions against its clients and earns revenue solely from commissions and fees. LMAX provides institutional and retail traders with deep liquidity, fast execution, and transparent pricing through its proprietary trading platform, LMAX Global.

Pros & Cons

LMAX has several advantages, such as being a regulated broker, offering transparent and direct market access, providing a range of trading instruments, and offering a professional trading platform.

On the other hand, LMAX has some drawbacks, including limited account types and high minimum deposit requirements.

Note: This table is not an exhaustive list of all the pros and cons of LMAX and is only meant to provide a general overview.

Overall, LMAX is a suitable choice for experienced traders who value direct market access and professional trading tools.

LMAX Group Alternative Brokers

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

• IG

• Saxo Bank

• CMC Markets

• Admiral Markets

• Pepperstone

IG, Saxo Bank, and CMC Markets are all well-established and reputable brokers, with strong regulatory oversight and a range of trading instruments and platforms available to their clients. Admiral Markets and Pepperstone are both popular among traders for their low spreads, fast execution speeds, and user-friendly platforms.

Some traders may prefer brokers with a wider range of trading instruments than what LMAX offers, and these alternative brokers may fit the bill. Additionally, some traders may prefer brokers with more robust educational and research resources, and may find these alternative brokers more suitable in that regard. Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is LMAX Group Safe or Scam？

As a regulated broker by reputable financial authorities such as FCA and CySEC, LMAX is considered a reliable broker. The company also prioritizes the security of its clients' funds by keeping them in segregated accounts and offering negative balance protection.

How are you protected？

Note that this table is for informational purposes only and is not exhaustive. It is important to conduct your own research and due diligence when choosing a broker.

Our Conclusion on LMAX Group Reliability:

LMAX is a highly regulated and reputable broker that takes the security of its clients' funds seriously. It is regulated by the FCA and CYSEC, and it implements various measures to ensure the safety of its clients' funds, such as holding them in segregated accounts and offering negative balance protection. Overall, LMAX appears to be a reliable and trustworthy broker.

Market Instruments

LMAX provides access to a range of financial instruments across various asset classes, including:

• Forex: Major, minor, and exotic currency pairs

• Indices: CFDs on major global indices, including UK100, GER30, US30, and more

• Commodities: Precious metals such as gold and silver, as well as energy products like crude oil and natural gas

• Cryptocurrencies: CFDs on Bitcoin, Ethereum, Litecoin, and Ripple

• It is important to note that the range of trading instruments may vary depending on the specific entity of LMAX and the jurisdiction in which it operates.

Accounts

LMAX offers different account types, each with different features and benefits:

• LMAX Global Account: This account is designed for institutions, hedge funds, asset managers, and professional traders. It offers access to the LMAX Global trading platform, deep liquidity, and low latency execution.

• LMAX Professional Account: This account is designed for experienced traders and offers access to the LMAX Exchange central limit order book, low latency execution, and competitive pricing.

• LMAX Prime Account: This account is designed for brokers, banks, and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.

• LMAX Interbank Account: This account is designed for banks and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.

All of these accounts have different minimum deposit requirements and fee structures.

Leverage

The maximum leverage offered by LMAX varies based on the account type and the asset being traded. For example, the maximum leverage for forex trading is up to 1:100, while for metals and commodities, it is up to 1:50.

It's important to note that leverage can increase both potential profits and losses, so it should be used with caution.

Spreads & Commissions

LMAX offers a variable spread on EUR/USD, which can start from as low as 0.2 pips during peak trading hours. However, the average spread is usually around 0.5-1 pip. It's worth noting that the spread can widen during periods of low liquidity or high market volatility.

The commission fee varies depending on the account type and the trading volume of the client. Here is a breakdown of the commission fees for LMAX:

LMAX Global: The commission for forex pairs ranges from $2.5 to $4.5 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1.25 to $5 per lot traded, depending on the instrument and the trading volume.

LMAX Professional: The commission for forex pairs ranges from $2 to $3 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1 to $3 per lot traded, depending on the instrument and the trading volume.

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

Note that the above information may vary depending on the account type, trading platform, and other factors. It's always a good idea to check with the broker directly for the most up-to-date and accurate information.

Trading Platforms

LMAX offers its proprietary trading platform called LMAX Global, which is a web-based platform accessible from any device with an internet connection. It also offers connectivity through industry-standard APIs, allowing clients to connect directly to LMAX Global's liquidity pool through third-party platforms.

Additionally, LMAX offers the MetaTrader 4 platform for traders who prefer using a familiar interface.

See the trading platform comparison table below:

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

Deposits & Withdrawals

LMAX offers a variety of deposit and withdrawal methods, including:

Payment Options:

• Bank Wire Transfer

• Debit/Credit Cards (Visa and Mastercard)

• Skrill

• Neteller

LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.

Minimum deposit requirement

The minimum deposit requirement for LMAX varies depending on the type of account. The LMAX Global account has a minimum deposit requirement of $1,000, while the LMAX Professional account has a minimum deposit requirement of $10,000.

LMAX Group minimum deposit vs other brokers

LMAX Group Money Withdrawal

To withdraw funds from LMAX, you need to follow these steps:

Step 1: Log in to your LMAX account and go to the “My Account” section.

Step 2: Click on the “Withdraw Funds” button.

Step 3: Select the account you want to withdraw from and enter the amount you wish to withdraw.

Step 4: Choose your preferred withdrawal method and fill out the necessary information.

Step 5: Submit your withdrawal request.

LMAX processes withdrawal requests within one business day, and the time it takes for the funds to reach your account will depend on the withdrawal method you choose.

Fees

LMAX charges various fees for trading and account maintenance. Here is an overview of some of the fees charged by LMAX:

• Swap Fees: LMAX charges a swap fee for positions held overnight. The swap fee is based on the interest rate differential between the two currencies of the trading pair.

• Deposit/Withdrawal Fees: LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.

• Inactivity Fee: LMAX does not charge any inactivity fee.

It's important to note that the fees charged by LMAX may vary depending on the type of account and trading instrument. Traders are advised to check the latest fee schedule on the LMAX website before trading.

See the fee comparison table below:

Customer Service

LMAX provides 24/7 customer service through phone, email, and live chat. You can also follow LMAX on some social networks such as LinkedIn, Facebook and YouTube.

Overall, LMAX's customer service is considered to be of good quality with responsive and helpful agents.

It's worth noting that the quality of customer service can be subjective and may vary from client to client. However, this table provides a general overview of the strengths and weaknesses of LMAX's customer service.

Education

LMAX provides a range of educational resources for its clients, including:

• Video tutorials: LMAX offers video tutorials on various topics related to trading, such as technical analysis, fundamental analysis, and risk management.

• Webinars: LMAX hosts regular webinars that cover a wide range of topics, including market analysis, trading strategies, and risk management.

• eBooks: LMAX provides a range of eBooks on various topics related to trading, such as forex trading strategies and technical analysis.

• Trading guides: LMAX offers a range of trading guides that cover a variety of topics, including forex trading, CFDs, and cryptocurrencies.

• Glossary: LMAX has a comprehensive glossary of trading terms that clients can refer to when needed.

• Overall, LMAX's educational resources are comprehensive and cover a wide range of topics, making it a good choice for traders who are looking to improve their knowledge and skills.

Conclusion

In conclusion, LMAX is a highly-regulated broker that offers institutional-level trading services to retail clients. The broker offers a wide range of trading instruments and a powerful trading platform. LMAX's low-latency trading environment, deep liquidity pool, and transparent pricing model make it an ideal choice for traders who demand high-quality execution and a fair trading environment.

However, LMAX's high minimum deposit requirement and limited account types may not be suitable for beginner traders. Additionally, the broker's relatively high trading costs may not be attractive to cost-sensitive traders. Overall, LMAX is a reliable and competitive broker for experienced traders looking for top-tier trading services.

Frequently Asked Questions (FAQs)