BASIC INFORMATION:
The Amana Capital Group is a globally recognized forex broker in multiple jurisdictions, including the UK, the UAE, and Cyprus. Amana Capital was established in 2010 in Beirut and is headed up by CEO, Ahmad Khatib.
Over the last decade, the broker has gained momentum in the market, now reaching over 80 countries with additional office locations in London, the United Arab Emirates, Cyprus, Sri Lanka and Malaysia. Amana Capital offers a variety of instruments across forex, indices, shares, CFDs, spot metals, and commodities, with desktop and mobile trading across the MT4 and MT5 platforms. In addition, the broker provides attractive education and trading tools, including Autochartist and TradeCaptain.
REGULATORY INFROMATION: LICENSE
Amana Capital is regulated by multiple entities and is highly transparent. Company information, including the owners‘ and directors’ profiles, can be found easily on the website and LinkedIn. A list of Amana Groups regulated entities and licenses are provided below:
· Amana Financial Services (Dubai) Limited – Dubai Financial Services Authority (DFSA) license number F003269
· Amana Capital Ltd – Cyprus Securities and Exchange Commission (CySEC) license number 155/11
· Amana Capital SAL Holdings – Lebanese Capital Markets Authority (CMA) license number 26
· AFS Global – Labuan Financial Services Authority Malaysia (LFSA) license number MB/18/0025
MARKETS
The owners have ensured plenty of assets are on offer at Amana Capital, including 54 FX pairs and a variety of popular future and cash stock indices, such as the Dow Jones and FTSE 100.
There‘s also gold and silver on spot and futures contracts, energies including crude oil, and soft commodity futures such as coffee and wheat. You can also choose from over 280 US company shares, such as Facebook, Apple, and McDonald’s.
SPREADS & COMMISSION
Spreads arent the lowest at Amana Capital, starting from 1.4 pips for EUR/USD, 1.9 pips for GBP/USD, and 1.5 pips for cash indices such as the FTSE 100.
There are no commissions charged on FX pairs, but future indices, metals, commodities, and energies come with a $10 fee per lot. For US shares, commissions are $0.02 per share.
Theres also an overnight rollover fee (swap charge), which is interest on trades that are kept open overnight.
LEVERAGE
Leverage for some accepted jurisdictions is available up to a maximum of 1:500. Note that EU and UK customers can only leverage up to 1:30. Traders with little or no experience should be aware that leveraged trading can lead to as many losses as gains.
ACCOUNT TYPES
Account types at Amana depend on your experience and what you wish to trade.
For those looking for a classic trading experience with forex and CFDs, there is the Amana Classic account. Active and elite traders with large starting capital can choose between Amana Active or Amana Elite.
Theres also a Shares Account for those who just wish to trade on any of the 280+ US shares, or the ZuluTrade Account for copy-traders.
· Amana Classic – $50 initial deposit, spreads from 1.4 pips, leverage up to 1:500, standard commission rates on CFDs, MT4/MT5 platforms
· Amana Active – $25,000 minimum funding, $100m volume per calendar month, active trader commission rates on FX and future CFDs, relationship manager, API trading, VPS
· Amana Elite – $250,000 minimum funding, elite spreads and reduced fees, trading data tools, customized trade desk services
· Shares Account – No minimum deposit, up to 1:10 leverage, $0.02/share commission, MT5
· ZuluTrade – Free for active clients, automated copying strategies with personal portfolio, social features, customizable tools, compensation scheme
PAYMENT METHODS
Deposits
Funding options include bank transfer, credit/debit cards, Skrill, Neteller, and alternative methods such as Qiwi and WebMoney. Base currencies are in USD, EUR, GBP, or RMB, and the minimum deposit in most cases is $10. Most methods are instant, except bank wire transfers which can take 2 – 5 business days to process.
Most methods will also incur a fee, which starts from 1.5% for cards and goes up to £6 for bank transfers. E Pay and FasaPay are free and UnionPay is covered by the broker.
Withdrawals
Fees for withdrawals range from 0.5% for UnionPay to 4.9% for Moneta. Card payments and fast international bank transfers are covered by the broker, and some e-currency payment systems such as Perfect Money are free. Amana Capital also does not charge for withdrawals via bank wire transfer, however, there may be charges incurred by your chosen bank.
Payments can be processed from the client portal once youve received your login details
DEMO ACCOUNT
Amana Capital offers a safe training account that allows you to trade instruments without risking real money. Beginners can learn the basics of trading, or experienced traders can use it to brush up on their strategies. The demo account is available for 30 days, on both the MT4 and MT5 desktop and mobile apps
TRADING PLATFORMS
MetaTrader 4
The flexibility of the MT4 trading platform means that both experienced traders and newcomers can adapt the features to suit their level and strategy.
MetaTrader 5
The latest generation of MetaTrader – MT5, features the same intuitive and user-friendly interface as MT4 but offers greater analytical capabilities, plus additional advanced trader tools.
TRADING HOURS
For most currency pairs, trading is open from 00:00 to 24:00, Monday to Friday (GMT+3). For US shares, trading sessions are 16:30 – 23:00, Monday to Friday (GMT+3). For all other instruments, you will need to check the website where specific session times are provided
CUSTOMER SUPPORT
There are plenty of ways you can get in touch with Amana Capital, including one of the five customer service phone numbers for each region, or by emailing support@amanacapital.com. You could also send a message via WhatsApp, Twitter, Facebook Messenger, WeChat, Telegram, or Live chat. The website is available in English, Arabic, and Mandarin
