amana Forex Broker

amana Review SummaryFounded2021Registered Country/RegionUnited Arab EmiratesRegulationDFSA, CMA, LFSA, BDL (Revoked), SCA (Exceeded), CYSEC/FCA (Suspicious Clone)Market Instruments6,000+, Forex, Commodities, Stocks, Cryptocurrencies, ETFs, Indices, MetalsDemo Account/LeverageUp to 1:100Spread70% Lower SpreadTrading Platformamana App, amana Web, MT4, MT5Minimum Deposit/Customer SupportLive chatEmail: support@amana.appSocial Media: Facebook, Twitter, Instagram, YouTube, LinkedIn, TikTok, Messenger, Telegram, WhatsAppamana Information Based in the United Arab Emirates, Amana is an online trading platform, offering 6,000+ tradable products, including Forex, Commodities, Stocks, Cryptocurrencies, ETFs, Indices, and Metals. It claims to offer leverage up to 1:100 and a spread 70% lower. This company holds multiple licenses from various authorities, while most of the licenses are effective, some of the licenses are revoked, exceeded, or suspected to be a fake clone.Pros and ConsProsConsVarious market offeringsSome licenses are exceeded, revoked or suspected to be a fake cloneNo commissionsMT4 and MT5 supportedThree account typesVarious payment methodsLive chat supportIs amana Legit? amana operates under various regulatory frameworks across different jurisdictions. However, when it comes to regulatory status, while most entities are regulated, some have had their licenses revoked or are flagged as “Suspicious Clone” by certain authorities.Regulated CountryRegulated AuthorityRegulatory Status Regulated EntityLicense TypeLicense NumberDubai Financial Services Authority (DFSA)RegulatedAmana Financial Services (Dubai) LimitedRetail Forex LicenseF003269Capital Markets Authority LEBANON (CMA)RegulatedAmana Capital SALRetail Forex License26BANQUE DU LIBAN (BDL)RevokedAmana Capital S.A.L.Financial Service60Labuan Financial Services Authority (LFSA)RegulatedAFS Global LimitedStraight Through Processing (STP)MB/18/0025Securities and Commodities Authority (SCA)ExceededAmana Mena Promotional Services L.L.CInvestment Advisory License20200000255Cyprus Securities and Exchange Commission (CySEC)Suspicious CloneAmana Capital LtdMarket Maker (MM)155/11Financial Conduct Authority (FCA)Suspicious CloneAmana Financial Services UK LimitedStraight Through Processing (STP)605070What Can I Trade on amana? amana asserts to offer over 6,000 types of market instruments, including Forex, Commodities, Stocks, Cryptocurrencies, ETFs, Indices, and Metals.Trading AssetAvailableforex✔metals✔commodities✔indices✔stocks ✔cryptocurrencies✔ETFs✔bonds❌options❌funds❌Account Type There are three types of car available on this platform, Meta Trader 4 (Hedged), Meta Trader 5 (Hedged), and Meta Trader 5 (Netting), each comes with different trading conditions.Account TypeMetaTrader 4 (Hedged)MetaTrader 5 (Hedged)MetaTrader 5 (Netting)Trading Assets100+ assets3,700+ assets3,700+ assetsExpert Advisors for automated trading✔✔✔Advanced indicators and analysis tools✔✔✔Multi chart support✔❌❌One-click trading❌✔✔Ticket-based trading✔✔✔MENA exchange-traded stocks❌✔✔US exchange-traded stocks❌❌❌Fractional trading❌❌❌Net-based positions❌❌✔Leverage Amana offers distinct leverages based on the asset class. 1:100 is the maximum leverage on this platform. Traders can contact the customer support team to request more leverage.Asset ClassesStandard LeverageHigh LeverageMajor Forex25x100xMinor Forex20xGoldSilver10xIndex Future Derivatives20xEnergy Futures Derivatives10x50xCommodity Futures Derivatives25xSpot Index Derivatives20x20xSpot Energy Derivatives10x50xFees The spread on this platform is committed to being 70% lower. According to amana, traders are allowed to enjoy commission-free on all assets. However, amana charges overnight financing fees on US Stock Derivatives (OTC), US ETFs derivatives, Regional stock Derivatives, Leveraged crypto, Forex Derivatives (OTC), International Stock derivatives (OTC), and Spot market derivatives (OTC). Plus, amana charges a clearing fee on Regional stocks (exchange traded/OTC) and Regional stock derivatives (OTC).Trading Platform Traders on this platform get access to amana App, which is an all-in-one trading app that grants access to 5,500+ commission-free assets across global and regional markets. From stocks, cryptocurrencies, forex, metals, and indices to ETFs, commodities, and more. In the meantime, amana also provides access to MT4 and MT5, which are popular trading platforms widely used for forex, CFDs, and other financial markets trading.MT4 is simpler and highly popular for forex trading.MT5 offers more advanced features, supports more markets, and is more flexible for algorithmic trading.Trading PlatformSupported Available Devices Suitable for amana App✔Desktop, Mobile, Web/MT5✔Desktop, Mobile, WebExperienced tradersMT4✔Desktop, Mobile, WebBeginnersDeposit and Withdrawal These are the payment options available on this platform: Visa, Mastercard, amana Prepaid Card, Apple Pay, Wire Transfer, UAE instant banking, Neteller, Whish Money (Lebanon), Skrill, and digital currencies. Amana claims that traders can enjoy zero fees on all card deposits and withdrawals.