Overview of Probis

Probis is an Australian-based trading platform with a history dating back to its founding in 2009. This platform offers a diverse range of financial instruments, including Forex, Commodity CFDs, and Securities CFDs, allowing traders to engage in various aspects of the global financial markets. Prospective traders can opt for either Live Accounts, where real funds are used for trading, or Demo Accounts, which provide a risk-free environment for honing trading skills.

One of the key features of Probis is its proprietary trading platform known as PROBIS AUTON, which facilitates efficient and secure online trading. This platform supports 24-hour trading in Forex, indices, precious metals, and commodities, making it adaptable to different trading preferences and time zones. However, it's important to note that Probis's regulatory status is currently unusual, as its official regulatory status has been revoked. Therefore, traders are advised to exercise caution and thoroughly research the platform's regulatory status and oversight to ensure the safety of their investments.

Is Probis Legit？

Probis was previously regulated by the Australian Securities and Investments Commission (ASIC) under license number 338241. However, it's important to note that the regulatory status of Probis is currently abnormal, and the official regulatory status has been revoked. Traders and potential clients should exercise caution and be aware of the associated risks when considering Probis as a trading platform. It's advisable to thoroughly research and consider the regulatory status and oversight of any brokerage before engaging in trading activities to ensure the safety and security of your investments.

Pros and Cons

Probis offers diverse tradable assets, including Forex, Commodity CFDs, and Securities CFDs. Traders can choose between Live and Demo Accounts for real-money or risk-free practice trading. The platform's proprietary PROBIS AUTON trading software is user-friendly and accessible on multiple devices. However, caution is advised due to the platform's uncertain regulatory status, as its official regulatory credentials have been revoked. Commission fees lack transparency, and non-trading fees like swap interest charges can affect overall trading costs. Considering these pros and cons is crucial for potential users.

Trading Instruments

Probis offers a range of trading instruments, including FX (Forex), Commodity CFDs (Contracts for Difference), and Securities CFDs. Each of these instruments has its own specifications and trading hours.

FX (Forex) Trading: Probis provides Forex trading options with various currency pairs, including EUR/USD, USD/JPY, GBP/USD, USD/CHF, USDCAD, AUD/USD, EUR/JPY, GBP/JPY, CHF/JPY, CAD/JPY, AUD/JPY, and EUR/GBP. These pairs come with specific contract sizes, minimum fluctuations, spread values, and necessary margin requirements per lot. Trading hours for Forex pairs vary between summer and winter times, with rollover times specified.

Commodity CFD Trading: Probis also offers Commodity CFDs for trading in assets such as Spot Gold, Spot Silver, Crude Oil, Copper, Soybean, Wheat, and Corn. Each commodity has its unique contract size, minimum fluctuation, spread, and margin requirements. Trading hours for these commodities differ during summer and winter times.

Securities CFD Trading: For traders interested in securities, Probis provides CFDs on various indices, including the US 30 Index, US E-mini SPX 500 Index, US NDAQ 100 Index, UK 100 Index, SGX Japan 225 Index, and HongKong50 Index. These securities CFDs have point values, minimum fluctuations, spreads, and margin requirements per lot. Trading hours for securities CFDs are specified for both summer and winter times.

Here is a comparison table of trading instruments offered by different brokers:

Account Types

Probis offers two main types of accounts to cater to the needs of traders: Live Accounts and Demo Accounts.

Live Account: A Live Account is designed for traders who are ready to engage in real-money trading. Opening a Live Account involves depositing real funds, and traders can use this account to execute actual trades in the financial markets. Live Accounts provide access to real market conditions, and any profits or losses are reflected in the trader's account balance. These accounts offer the opportunity to experience the excitement and risks of live trading, making them suitable for both novice and experienced traders.

Demo Account: A Demo Account, on the other hand, is a risk-free and practice-oriented account type. It allows traders to hone their trading skills and test strategies without risking real capital. Demo Accounts are funded with virtual money, and traders can execute trades in a simulated market environment that mirrors real market conditions. This is an invaluable tool for beginners to learn the ropes of trading and for experienced traders to refine their strategies. It's a safe way to explore the trading platform and gain confidence before transitioning to a Live Account.

How to Open an Account

To open an account with Probis, follow these steps.

1. Visit the Probis website. Look for the “Open Live Account” button on the homepage and click on it.

1. Sign up on websites registration page.

1. Receive your personal account login from an automated email

2. Log in

3. Proceed to deposit funds to your account

4. Download the platform and start trading

Leverage

Probis offers varying levels of leverage to traders, depending on the type of financial instrument they are trading. For major currency pairs like EUR/USD and USD/JPY, the maximum leverage is 1:30. This means that traders can control a position worth up to $30 for every $1 they have in their trading account. Minor currency pairs and gold trading come with a maximum leverage of 1:20. When trading CFD products other than gold, such as commodities, the leverage is set at 1:10. For securities CFDs, which include major stock markets, the maximum leverage is 1:20, while minor stock markets offer a leverage of 1:10. Traders should exercise caution and consider their risk tolerance when using leverage, as it can amplify both profits and losses in their trades.

Here is a comparison table of maximum leverage offered by different brokers:

Spreads and Commissions (Trading Fees)

Probis provides specific details about spreads for various trading instruments. For Forex pairs, spreads typically start at 3 pips. In the case of Commodity CFDs like Spot Gold, the spread starts at 0.5 dollars per troy ounce. For Securities CFDs such as the US 30 Index, the spread begins at 5 points. These precise spread values are essential for traders to understand their trading costs accurately.

Traders should stay informed about potential changes through the platform's notifications. Please note that commission details are not provided on the website and should be obtained from Probis' customer service.

Non-Trading Fees

Probis charges non-trading fees, with one significant fee being swap interest or overnight financing charges. Swap interest arises from the difference in interest rates between two currencies in a currency pair during rollover periods.

In essence, if traders hold a position overnight in a currency pair, they may either receive or pay swap interest based on the interest rate differentials between the currencies involved. For instance, if traders buy a currency with a higher interest rate and sell a currency with a lower interest rate, they can earn interest. Conversely, if they sell a currency with a higher interest rate and buy a currency with a lower interest rate, they will incur interest charges.

For example, if the Australian Dollar has a higher interest rate compared to the Japanese Yen, and traders hold an AUD/JPY position overnight, they may earn or pay the net interest difference between these currencies. The calculation and settlement of FX swap interest occur at the market's closing.

Traders should be aware of these swap interest rates as they can impact the overall costs of holding positions overnight, affecting their trading strategies and expenses. It's advisable to check Probis for specific swap interest rates for different currency pairs.

Deposit & Withdraw Methods

Probis provides bank transfer for depositing and withdrawing funds:

Deposit:

You can deposit funds into your Probis trading account via bank wire. Domestic transfers typically take 1-2 business days, while international transfers usually take 3-5 business days. You can make deposits in either AUD or USD. Probis does not charge any fees for deposits. However, please note that international transfers to and from international banking institutions may incur intermediary or transfer fees that are independent of Probis.

Withdrawal:

To withdraw margins from your trading account, you have two options:

- Use the “withdraw margin” button within the trading platform. Fill in the withdrawal amount to complete the application.

- Contact Probis customer service by telephone. You will need to provide your login ID and service pin to complete the withdrawal application.

Trading Platforms

Probis offers the PROBIS AUTON trading platform for efficient and secure online trading. It supports 24-hour trading in forex, indices, precious metals, and commodities. The platform is available on PC, tablets, and mobile devices, ensuring flexibility for traders. It has specific system requirements, such as Microsoft .NET Framework 4.5 for the PC version and various operating systems for mobile devices. Users can download the platform from the Probis website or app stores for iOS and Android. Manuals are available for each platform version to help users navigate and make the most of their trading experience.

Customer Support

Probis offers comprehensive customer support to assist clients with their inquiries and needs. They are conveniently located in Sydney, Australia, with a registered office at Suite 11.01, Level 11, 227 Elizabeth Street, and a postal address at PO Box 20697 World Square. Clients can reach out to Probis through various communication channels. They provide telephone support at +61 2 9047 7800, allowing clients to speak directly with their team.

For specific inquiries, Probis has dedicated email addresses for different services. Clients looking for assistance with asset management can reach out to enquiries@probisgroup.com.au. If you have questions related to FX and CFD trading, you can contact cs@probisgroup.com.au. For FX and CFD account-related inquiries, you can email account@probisgroup.com.au, and margin deposit and withdrawal matters can be addressed at margin@probisgroup.com.au.

Educational Resources

Probis provides a range of educational resources to empower clients in their FX and CFD trading journey. Their educational offerings cover FX & CFD trading, trade characteristics, technical analysis, and a comprehensive glossary.

FX & CFD Trading: Probis offers educational content that helps clients understand the fundamentals of FX (foreign exchange) and CFD (contract for difference) trading. This includes insights into market dynamics, trading strategies, and risk management techniques.

Trade Characteristics: Understanding the unique characteristics of different trading instruments is crucial for success. Probis provides resources that delve into the specifics of various assets, helping traders make informed decisions.

Technical Analysis: Technical analysis is a vital tool in trading, and Probis equips clients with the knowledge and skills needed to analyze price charts, identify trends, and make data-driven trading decisions.

Glossary: The financial world comes with its own jargon and terminology. Probis offers a comprehensive glossary that defines and explains key terms, ensuring that clients can navigate the trading landscape with confidence.

Trading Tools

Probis provides traders with Economic Calendar to enhance their market analysis and decision-making. It provides traders with a professional perspective on market events, helping them understand market dynamics, stay informed about crucial economic announcements, and seize investment opportunities. This tool is instrumental in tracking economic indicators, central bank decisions, and geopolitical events that can significantly impact financial markets.

Conclusion

In conclusion, Probis offers traders access to various financial instruments, a user-friendly trading platform, and educational resources. However, its regulatory status is uncertain, which raises concerns about the safety of investments. The lack of transparency regarding commission fees and potential non-trading fees like swap interest charges can impact overall trading costs. While Probis has its advantages, including a range of tradable assets and a demo account for practice, potential users should carefully consider these drawbacks and exercise caution when choosing this platform for their trading needs.

FAQs

Q: Is Probis a regulated trading platform？

A: Probis was previously regulated by the Australian Securities and Investments Commission (ASIC), but its regulatory status is currently uncertain as the official regulatory status has been revoked.

Q: What types of trading accounts does Probis offer？

A: Probis provides two main types of accounts: Live Accounts for real-money trading and Demo Accounts for practice trading.

Q: Can I access Probis's trading platform on mobile devices？

A: Yes, Probis's trading platform, PROBIS AUTON, is available on PC, tablets, and mobile devices, offering flexibility for traders.

Q: What is the maximum leverage offered by Probis？

A: The maximum leverage varies depending on the type of financial instrument. For major currency pairs, it's 1:30, while minor currency pairs and gold trading offer 1:20. CFD products other than gold come with 1:10 leverage, and securities CFDs offer a maximum leverage of 1:20 for major stock markets and 1:10 for minor stock markets.

Q: How can I deposit and withdraw funds with Probis？

A: You can deposit funds via bank wire transfer in either AUD or USD. Withdrawals can be made using the “withdraw margin” button within the trading platform or by contacting Probis customer service.

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)