Amana Forex Broker

Amana Forex Broker - Complete Information Guide

1. Broker Overview

Amana Capital, established in 2011, is a prominent brokerage firm that offers a diverse range of online trading services. The company is headquartered in London, United Kingdom, with additional offices located in Cyprus, Lebanon, the United Arab Emirates, and Malaysia. Amana Capital operates as a private company, catering to both retail and institutional clients across over 80 countries.

Since its inception, Amana Capital has made significant strides in the financial services industry, expanding its reach and enhancing its service offerings. The firm is known for its commitment to providing direct access to global financial markets through innovative trading technologies. One of the key milestones in its development was the establishment of multiple regulatory licenses, which has bolstered its reputation as a trustworthy broker.

Amana Capital is part of the 180 Capital Group, which specializes in various investment and financial services. The brokerage primarily operates under a retail forex and CFD trading model, facilitating transactions in a wide range of financial instruments, including currencies, commodities, and indices. This robust business model positions Amana Capital as a reliable partner for traders seeking access to the global markets.

2. Regulatory and Compliance Information

Amana Capital is regulated by several top-tier financial authorities, ensuring a high level of compliance and investor protection. The main regulatory bodies overseeing Amana Capital include:

• Financial Conduct Authority (FCA), United Kingdom - License Number: 605070
• Cyprus Securities and Exchange Commission (CySEC) - License Number: 155/11
• Dubai Financial Services Authority (DFSA) - License Number: F003269
• Labuan Financial Services Authority (LFSA) - License Number: MB/18/0025
• Capital Markets Authority (CMA), Lebanon - License Number: 26
• Financial Services Commission (FSC), Mauritius - License Number: C118023192

These licenses cover a broad range of activities, allowing Amana Capital to operate within the regulatory frameworks of the respective jurisdictions. The firm adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, ensuring that client funds are kept secure and that all transactions are transparent.

Amana Capital implements a client funds segregation policy, meaning that client funds are held in separate accounts from the company's operational funds. This practice protects clients' investments in the event of financial difficulties faced by the broker. Additionally, the firm participates in investor compensation schemes, providing further assurance to clients regarding the safety of their funds.

3. Trading Products and Services

Amana Capital offers a comprehensive range of trading products, catering to the diverse needs of its clients. The brokerage provides access to over 66 currency pairs, including major, minor, and exotic currencies. Furthermore, Amana Capital's offerings extend to a variety of CFD products, including:

• Indices: Access to major stock indices such as the Dow Jones and FTSE 100.
• Commodities: Trading opportunities in precious metals like gold and silver, as well as energy products such as crude oil.
• Stocks: Over 280 US company shares available for trading, including popular names like Facebook, Apple, and McDonald's.
• Cryptocurrencies: Limited access to cryptocurrency CFDs, including Bitcoin, Ethereum, Litecoin, and Ripple.

The firm is committed to keeping its product offerings updated, frequently introducing new instruments based on market demand and client feedback. Amana Capital provides tailored services for both retail traders and institutional clients, including white label solutions and asset management services, enhancing its appeal across various market segments.

4. Trading Platforms and Technology

Amana Capital supports the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are renowned for their advanced analytical capabilities and user-friendly interfaces.

• MetaTrader 4 (MT4): This platform is favored by many traders for its robust features, including automated trading through Expert Advisors (EAs), extensive charting options, and a variety of technical indicators. It allows traders to execute trades efficiently and manage their accounts with ease.

• MetaTrader 5 (MT5): The successor to MT4, MT5 offers enhanced features such as additional order types, a built-in economic calendar, and improved analytical tools. It is designed to cater to the needs of more sophisticated traders, providing a comprehensive trading experience.

In addition to desktop applications, both platforms are available in mobile versions for iOS and Android, enabling traders to manage their accounts and execute trades on the go. Amana Capital also offers a proprietary web-based platform, allowing users to trade without needing to download software.

The firm employs a Market Making execution model, ensuring that client orders are executed promptly. Amana Capital also provides API access for algorithmic trading, allowing advanced traders to automate their strategies and enhance their trading efficiency.

5. Account Types and Trading Conditions

Amana Capital offers several account types tailored to meet the varying needs of its clients. The primary accounts include:

• Classic Account: Requires a minimum deposit of $50, with spreads starting from 1.40 pips on major currency pairs. This account is suitable for beginner traders.

• Active Account: Designed for high-volume traders, this account requires a minimum deposit of $25,000 and a minimum trading volume of $100 million per calendar month. Spreads can tighten to 0.1 pips on EUR/USD, with no commission charged on forex trades.

• Elite Account: Aimed at professional traders, this account requires a minimum deposit of $250,000. Traders can negotiate their commissions and benefit from personalized services, including access to a dedicated account manager.

Amana Capital also offers Islamic accounts for clients who require swap-free trading options. All accounts provide access to a demo account, allowing clients to practice trading without risking real money.

Leverage options vary depending on the account type and jurisdiction, with maximum leverage reaching up to 1:500 for certain accounts. The minimum trade size is typically 0.01 lots, providing flexibility for traders of all experience levels.

6. Fund Management

Amana Capital supports a variety of deposit and withdrawal methods, ensuring convenience for its clients. Accepted funding options include:

• Bank Transfers
• Credit/Debit Cards (Visa, MasterCard)
• E-wallets (Neteller, Skrill, Perfect Money, WebMoney, Qiwi, etc.)

The minimum deposit requirement varies by account type, but the Classic Account has a low entry point of $50. Deposits via credit/debit cards and e-wallets are typically processed instantly, while bank transfers may take 2-5 business days.

While Amana Capital does not charge deposit fees, certain methods may incur costs, such as a 1.5% fee for card deposits. Withdrawals can also involve fees, with a 2% fee capped at $30 for certain e-wallet transactions. Withdrawal processing times generally range from 1-3 business days, depending on the method used.

7. Customer Support and Educational Resources

Amana Capital places a strong emphasis on customer support, offering various channels for clients to seek assistance. Support is available through:

• Phone
• Email
• Live Chat
• Social Media (including WhatsApp, Facebook Messenger, Twitter, and Telegram)

The customer service team is multilingual and operates 24/5, providing support in several languages. However, it's important to note that there is no 24/7 support available.

In terms of educational resources, Amana Capital offers a comprehensive suite of materials designed to assist traders in their journey. This includes:

• Webinars and Seminars: Regularly scheduled events covering various trading topics.
• Video Tutorials and E-books: Resources that provide in-depth knowledge on trading strategies and market analysis.
• Market Analysis Services: While the broker offers limited in-house analysis, clients can access third-party tools like Autochartist and Trade Captain for market insights.

8. Regional Coverage and Restrictions

Amana Capital serves a diverse clientele across various regions, including the UK, UAE, Cyprus, Lebanon, and Malaysia. The broker has established a presence in these key markets to cater to local traders effectively.

However, there are certain countries from which Amana Capital does not accept clients, including the USA, Canada, Iran, North Korea, and a few others due to regulatory restrictions. It‘s crucial for potential clients to check the broker’s website for the most current list of restricted countries before attempting to open an account.

In summary, Amana Capital stands out as a reputable broker with a solid regulatory framework, diverse trading instruments, and robust customer support. While it may not have the most competitive spreads, its emphasis on client safety and service quality makes it a viable option for traders looking to enter the forex and CFD markets.

This comprehensive overview of Amana Capital provides potential clients with the essential information needed to make an informed decision about their trading options. Whether you're a beginner or an experienced trader, understanding the offerings, regulatory compliance, and support services can significantly enhance your trading experience.