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Amana Capital Review

FX Author By Jeffrey Cammack Author Information Updated: June 11, 2020
Overall Rating
4.25 4.25 / 5
Min. DepositGBP 200
Max. Leverage30:1
Min. Spread0.1 pips
Regulators CySEC,FCA,DFSA
Regulator Origin CySEC FCA DFSA
Trading Desk Type

Summary

Amana Capital is a very well-regulated broker with a strong focus on new traders; beginners will find a helpful and well-structured education section and relatively tight spreads on its cheapest account - though trading conditions do improve substantially on the more expensive accounts.

We also like that both MT4 and MT5 are supported and that traders have free access to both AutoChartist and Trade Captain - two excellent third-party analysis applications. 

Reviews

Regulation 11111
Trading Conditions 11110.5
Trading Platforms 11110.5
Deposit & Withdrawal 11111
Education & Research 110.500
Assets Available 1110.50
Customer Service 11110
Beginner Friendly Standard
Bonuses $30 New Customer Welcome Bonus
Our Review Process

Trading Conditions

Minimum DepositGBP 200
Base currenciesUSD, GBP, EUR
Number of FX Pairs54
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD1.4
GBP / USD1.9
USD / JPY2

Company Details

Company nameAmana Capital Ltd
Founded2011
Website www.amanacapital.com
Type Market Maker
Regulators CySEC,FCA,DFSA
Office locations United Kingdom, Cyprus, Lebanon, United Arab Emirates

Deposit & Withdrawal Methods

Supported Platforms for Amana Capital

Is Amana Capital Safe?

From a regulation standpoint, Amana Capital Group is one of the best-regulated brokers available – its regional subsidiaries are regulated as follows:

  • Amana Financial Services UK Ltd, licensed by the Financial Conduct Authority (FCA), (License Number 605070)
  • Amana Financial Services Dubai Ltd, licensed by the Dubai Financial Services Authority (DFSA) (Registration Number F003269)
  • Amana Capital Ltd, licensed by the Cyprus Securities and Exchange Commission (CySec) (License Number 155/11)
  • Amana Capital SAL, licensed Financial Institution regulated by the Central Bank of Lebanon (BDL) (License Number 60)

Amana Capital has not won any recent awards, but based on its regulatory oversight we can say that it is a reliable, secure broker which protects client funds.

Trading Conditions

Trading conditions at Amana Capital are adequate for a market maker but don’t expect anything special unless you are willing to part with a large amount of money.

Account Types

Amana offers three account types for Forex trading: the Amana Classic, Amana Active and Amana Elite.  As is typical with brokers, accounts that require more substantial deposits will reward clients with tighter spreads and other perks. All accounts are available on either MT4 or MT5.

The account types details are:

Amana Classic

The Classic account has spreads from as low as 1.4 pips, and if you use the MT5 platform you can trade Metals, Indices, Commodities alongside Forex pairs.  This is a good starter account because, because only requires a 50 USD minimum deposit and there are no additional fees.

Amana Active

The Amana Active account requires a minimum account balance of 25,000 USD but spreads are much tighter (down to 0.1 pips) and you will also receive a personal account manager and a free VPS service.

Amana Elite

The Elite account is the Amana professional account.  Spreads are super tight with small commissions on a large volume of trades. The minimum deposit for this account is 250,000 USD.

Cryptocurrency CFDs

Cryptocurrency CFDs are available on some of the Amana capital accounts.  At the time of writing, there were 4 USD currency pairs available.  Cryptocurrencies available are Bitcoin, Ethereum, Litecoin, and Ripple. The spreads vary significantly compared to other traditional Fiat currencies.  It is not unusual for spreads to be as wide as 75 pips on Bitcoin, but cryptocurrency spreads will vary significantly with Amana, so if you trade these currencies, watch your margins.

Deposits and Withdrawals

You can fund your account by Credit Card, Bank Transfer & APMs.  Amana Capital does charge a fee for handling deposits dependent on the payment method and commission can be as high as 1.5% for withdrawals. Withdrawal takes about 3-4 days for a client to receive the funds back on their credit card.

Amana Capital for Beginners

We were pleasantly surprised by Amana Capital’s approach to beginner traders, with a helpful and well-structured education section and excellent customer service for clients all over the world. First-party analytical resources are almost non-existent though.

Educational Material

Educational Material is freely available to all visitors at Amana Capital and is well structured across 6 sections:

  • Seminars – Amana Capital holds regular free seminars across the Middle East. If you live in the region check the listings to see if there will be one near you.
  • Webinars – Webinars are also free, but do require registration, and are held frequently. Subjects vary widely from basic concepts to advanced trading strategies.
  • Videos – This small collection of videos is a good introduction to trading, don’t expect anything too in-depth but it’s a good start for beginners.
  • Ebooks – A fairly comprehensive collection of eBooks for those who prefer to read when they learn – the material here is deeper and more comprehensive than the video library
  • Forex Trading – A brief section on the basics of Forex, for those who don’t have the patience to educate themselves thoroughly.
  • CFD Trading – Similar to the section above, this will introduce you to the concepts and intricacies of CFD trading – essential if you are brand new to retail Forex trading.

Analytical Material

Apart from a basic Economic Calendar, there is no real market analysis to speak of. Amana Capital will argue that its clients have free access to AutoChartist and Trade Captain (two powerful third-party analytical tools) and therefore it does not need to provide further analysis – which is a fair point – but it is always good to have as many information sources as possible.

Customer Support

The customer service team is available 24/5 days a week, via telephone, call back, email and messenger services such as WhatsApp, Facebook Messenger, Twitter, and Telegram.  Having this much access to customer support and the trading desk is much appreciated by experienced and beginner traders alike.

Trading Platforms

Amana supports the MetaTrader Suite of tools.  From MT4 and MT5 on a desktop to the smartphone and tablet apps for those who wish to monitor trades, or act on signals.  Multiterminal is also available if you are managing numerous accounts simultaneously.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Amana Capital offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Amana Capital would like you to know that: Forex and CFDs are leveraged financial instruments that carry a high degree of risk and may expose you to significant losses. Trading in CFDs may not be suitable for all investors. You should ensure before trading you fully understand the risks involved and consider your level of experience. If necessary you should seek independent advice.

Conclusion

Amana Capital is a great broker for MetaTrader users looking for more options with the MT5 platform.  Strong support sits at the core of the product, and simple and uncomplicated account types support and strong and sturdy regulation back it all up.  The only thing I would like to see change is the fees on deposits, more cryptocurrencies and more account options for the old-school MT4 user.

Amana supports the MetaTrader Suite of tools.  From MT4 and MT5 on a desktop to the smartphone and tablet apps for those who wish to monitor trades, or act on signals.  Multiterminal is also available if you are managing numerous accounts simultaneously.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Amana Capital offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Amana Capital would like you to know that: Forex and CFDs are leveraged financial instruments that carry a high degree of risk and may expose you to significant losses. Trading in CFDs may not be suitable for all investors. You should ensure before trading you fully understand the risks involved and consider your level of experience. If necessary you should seek independent advice.

Conclusion

Amana Capital is a good broker for MetaTrader users looking for more options with the MT5 platform.  Strong support sits at the core of the product, and uncomplicated account types and solid regulation back it all up.  The only thing we would like to see change is the fees on deposits, deeper account options and more market analysis for new traders.

Alert Most retail CFD accounts lose money. Your capital is at risk.

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Overall Rating 11110.5 4.25 / 5 11110.5 4.46 / 5 11110.5 4.49 / 5
Minimum DepositGBP 200GBP 200GBP 5
Regulation
CySEC CySEC
FCA FCA
DFSA DFSA
CySEC CySEC
ASIC ASIC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Trading Desk Type
Trading InstrumentsCryptocurrencies, Forex, Indicies, Metals, Equities, WTIsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs546051
Crypto Pairs4104
Pros
  • Well regulated
  • Tight spreads
  • Great customer support
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • High minimum deposit
  • Limited education
  • High minimum deposit
  • Limited market analysis
  • Limited base currencies
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11111 5 / 5 11110 4 / 5
Deposit & Withdrawal 11111 5 / 5 11110 4 / 5 11110.5 4.5 / 5
Education & Research 110.500 2.5 / 5 11100 3 / 5 11110.5 4.5 / 5
Assets Available 1110.50 3.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11110 4 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
% Lose with this broker N/A N/A 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:130:1
Spread0.1 pips0.1 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Classic (Mini)
  • Standard - MetaTrader (Standard)
  • Zero (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 , MT5 cTrader , MT4 , MT5 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - True ECN account 6 USD / lot - Zero Account
Clear all brokers Clear all brokers

Amana Capital

Visit Website

IC Markets

Visit Website

HotForex

Visit Website
Overall Rating 11110.5 4.25 / 5 11110.5 4.46 / 5 11110.5 4.49 / 5
Minimum DepositGBP 200GBP 200GBP 5
Regulation
CySEC CySEC
FCA FCA
DFSA DFSA
CySEC CySEC
ASIC ASIC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
Trading Desk Type
Trading InstrumentsCryptocurrencies, Forex, Indicies, Metals, Equities, WTIsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, Bonds
Forex Pairs546051
Crypto Pairs4104
Pros
  • Well regulated
  • Tight spreads
  • Great customer support
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • High minimum deposit
  • Limited education
  • High minimum deposit
  • Limited market analysis
  • Limited base currencies
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11111 5 / 5 11110 4 / 5
Deposit & Withdrawal 11111 5 / 5 11110 4 / 5 11110.5 4.5 / 5
Education & Research 110.500 2.5 / 5 11100 3 / 5 11110.5 4.5 / 5
Assets Available 1110.50 3.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11110 4 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
% Lose with this broker N/A N/A 72.83% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:130:1
Spread0.1 pips0.1 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Classic (Mini)
  • Standard - MetaTrader (Standard)
  • Zero (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 , MT5 cTrader , MT4 , MT5 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay
Trading Commission Fees Included in Spread 7 USD / lot - True ECN account 6 USD / lot - Zero Account
Visit Amana Capital

Alert Most retail CFD accounts lose money. Your capital is at risk.

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