Amana Capital Review 2020
Amana Capital is multi-regulated Forex and CFD broker that offers over 360 assets for trading on the sophisticated MT4 and MT5 trading platforms. Investors are offered social trading via ZuluTrade and also MAM accounts. The brand also offers other trading tools such as VPS, trading signals, market news and analysis.
Amana Capital Review 2020, Pros & Cons
- Multiple regulations
- MT4 & MT5 platforms
- Social trading powered by ZuluTrade
- Trading signals from Autochartist
- MAM accounts for money managers & investors
- No USA clients
- Training eBooks, webinars & other knowledge resources mainly in Arabic
- Market Maker
- Restricted leverage for EU clients
- No cryptocurrency trading
- Best trading conditions require larger investment
In this detailed Amana Capital review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Amana Capital is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Amana Capital.
Amana Capital Review: Summary
Amana Capital is a brokerage company founded with the vision to become a premium industry leader in innovative financial services and technological solutions. The company offers Forex and CFDs for trading online. The broker began operations in Beirut in 2010 but has expanded to several countries. Today, the headquarters is in Dubai while it has subsidiaries in the UK, Cyprus, Mauritius and Malaysia. Amana Capital is part of 180 Capital; a financial investment, risk management and technological holding company.
The broker offers over 360 assets for trading on the MetaTrader platforms; MT4 and MT5. Multiple payment options are available and a responsive client support team is always ready to assist. The trading costs are very competitive with spreads as low as 0.1 pips.
Amana Capital Review: Regulation
Amana Financial Services UK Ltd is authorized and regulated in the UK by the Financial Conduct Authority (FCA). The license number is 605070.
Amana Financial Services (Dubai) Limited is registered in the United Arab Emirates (UAE). It is regulated by the Dubai Financial Services Authority (DFSA). The license number is F003269.
Amana Capital Ltd is registered as a Cyprus Investment Firm. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 155/11.
Amana Capital SAL is registered and Lebanon and authorized by the Lebanese Capital Markets Authority (CMA) as a Financial Intermediary Institution. The license number is 26.
AFS Global is authorized and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia. The license number is MB/18/0025.
ACG International is authorized and regulated by the Financial Services Commission (FSC) of Mauritius. The license number is C118023192.
All clients funds are kept in segregated bank accounts which should not be used by Amana Capital for its own operations. This is a regulatory requirement and it is strictly monitored by both internal and external auditors. This helps to ensure that clients’ funds are safe. Amana Capital has a negative balance protection policy for eligble clients.
The broker’s UK clients are protected by the Financial Services Compensation Scheme (FSCS). This scheme protects eligible UK investors in the event of broker bankruptcy. If that happens, then the FSCS can pay compensations to eligible clients of up to £85,000 each.
The EU clients are protected by the Investor Compensation Fund (ICF) which ensures that if the broker fails, eligible clients can be refunded or compensated. The payment is capped at €20,000.
Amana Capital is also offering its LFSA and FSC clients an insurance plan covering up to $1,000,000 at no expense to eligible clients.
Amana Capital Review: Countries
Amana Capital does not accept clients from USA. Some Amana Capital broker features and products mentioned within this Amana Capital review may not be available to traders from specific countries due to legal restrictions.
Amana Capital Review: Trading Platforms
MetaTrader 4 (MT4)
The MT4 trading platform has become one of the market standards for forex traders and brokers around the world. It is a user-friendly platform which makes it an option for beginners, yet it has enough capabilities that make it a viable option for professional traders. MT4 is replete with tools for efficient trading and detailed markets analysis. It also supports automated trading through the use of expert advisors (EAs). There is a built-in strategy tester that can run EAs over historical data – although this feature does have significant limitations.
One of the most useful features is the platforms flexibility. The MT4 functions and tools can be increased with the installation of plugin apps developed in the Meta Quotes Language. Users can get thousands of scripts, indicators and EAs from the MQL community and other sources online. There is a built-in MetaEditor where you can create your very own customised tools.
Amana Capital provides the following versions of the MT4 platform:
- WebTrader: This version is accessible from the broker’s website. No need to download or install any software a it runs directly in most modern browsers.
- Desktop: The MT4 desktop platform is the flagship version that can be downloaded and installed on a Windows or MAC computer. Expert advisors (EAs) can only be created, back tested and installed on this version. Generally, plug in apps are installed on this version.
- Mobile: This is designed for trading on the move. It is available for Android and iOS devices and can be downloaded for free from the respective app stores.
- Multiterminal: This is the MT4 version for multiple account managers who trade on behalf of other traders. It has all the necessary tools to trade and manage multiple accounts from a single master account.
MetaTrader 5 (MT5)
The MT5 platform was developed to succeed MT4. It has a similar interface and feel to it, with increased features and functionality. Plugin apps and EAs developed for the MT4 will not run on the MT5 and vice versa. MT5 is more complex, powerful and richer than MT4. The Amana Capital MT5 is available as windows desktop application and mobile apps for android and iOS devices.
Here are the some of the key features of the MetaTrader platforms:
- The ‘Market watch’ and charts display the assets bid/ask quotes in real time.
- One- click trading is supported.
- Multiple orders including market orders and pending orders. MT5 has 6 pending orders while MT4 has 4.
- 3 chart styles; Bar, line and candlesticks on different timeframes; 9 on MT4 and 21 on MT5.
- ‘Auto trading’ feature used to activate EAs which automates strategies.
- Access to buy or rent plugin apps from the embedded MQL5 market.
- The economic calendar tab is only found on the MT5.
- Drawing tools for chart analysis. 24 in the MT4 and 44 in the MT5.
- Price alert notifications can be set via email, SMS and platform pop-ups.
Amana Capital Mobile Trading App
This is the proprietary mobile app from Amana Capital. It is available on iOS and Android devices and can be downloaded from the respective app stores. It can used for keeping track of your accounts and trading activities on the go.
Here are some of its features:
- Account management; new accounts can be created, funded and monitored from the app.
- Trading signals can be viewed.
- The economic calendar is available on the app
- Market news can be read from the app.
- Directly contact the support team from the app.
Amana Capital Review: Trading Tools
This is an intelligent tool used to analyze the trading data of a client. It is freely available to all Amana Capital clients. RiskPulse has a smart dashboard that shows the trading performance, calculated predictions and ideas to improve the client’s performance.
Social Trading with ZuluTrade
ZuluTrade is one of the leading social trading platforms in the world today. Amana Capital has partnered with ZuluTrade to bring the social trading platform of ZuluTrade to its clients. After registration, an interested client can request for ZuluTrade account by filling the form on the ZuluTrade page of the Amana Capital website. ZuluTrade has a vast network of traders who are signal providers. Investors can choose to follow any provider and automatically replicate his trades in his own account. The signal providers earn a commission from any profits made by their followers. You can see our detailed ZuluTrade Review for more information.
It must be strongly emphasised that there is by no means any guarantee on how these signals will perform and historical results are no indication of future results. You should understand all of the significant risks involved with trading online.
Multi-Account Manager (MAM) Account
This is an account designed for asset managers who trade on behalf of other traders and only earn commissions from any profits that they may generate. Amana Capital provides the MAM software and the master account from which the manager allocates trades and trade several accounts simultaneously from the master account. Again, there are no guarantees on how these MAM accounts will perform.
Amana Capital provides several calculators to assist traders with the full figures involved before making a trade. The calculators available are: Margin, Pip value, Lot size, Profit and Loss, Fibonacci, Pivot Points and Currencies.
Amana Capital clients are given access to trading signals from Autochartist; a software tool that scans the charts in real time and notifies the traders with opportunities and signals. Autochartist also presents daily updates on important market events as well as the economic calendar
www.tradecaptain.com is a website that provides educational resources, market news and analysis. It is owned by Amana Capital Group. The website has trading tools like traders’ trends and daily analysis. Training eBooks are available but they are written in Arabic.
Virtual Private Server (VPS)
VPS enables traders to host their trading systems on a virtual server thus reducing latency and ensuring reliable connections even if their trading platforms are not running on their own machines. A VPS is often used by traders who need to run automated trading systems around the clock. The VPS is free for traders with the ‘active traders’ account.
This is a calendar of economic events in various countries that can have an impact on the various forex markets. Traders sometimes speculate and forecast the impact of these events before they happen and also keep the records after they happen. These historical records are kept for future analysis.
Amana Capital Review: Education
Seminars & Webinars
Workshops are frequently scheduled in some cities like Cairo, Muscat, Abu Dhabi, etc. The seminars normally last 3 hours and are taught in Arabic or any other prevalent language in the area. Webinars are also scheduled on the website for clients of various experience levels.
There are 9 articles on forex trading provided on the brokers website. The main focus is on beginner traders as the articles start with an introduction to the forex markets, trading and how it works. The articles are rounded off with charting and analysis. Also, there are 4 articles on CFD trading targeted at new traders. The topics covered are: an introduction to CFDs, the risks of trading, CFD instruments and calculating profit and loss.
Amana Capital Review: Trading Instruments
Amana Capital offers over 285 stock CFDs, 7 agricultural commodities, 3 Energy futures, 2 spot energies, 2 future metal and 2 spot metals, 7 future indices, 7 cash indices and 54 currency pairs.
Amana Capital Review: Trading Accounts & Fees
Amana Capital has the following account types for trading online:
Amana Classic Account
The minimum deposit is $50 while the spreads start from 1.4 pips. The maximum leverage is up to 1:500. There are no commissions on forex and cash CFDs but there are commissions as follows: $10 per lot on Future CFDs, $0.02 per share CFDs with a minimum of $15 per transaction. Market execution is the order processing method used.
This account is exclusively for trading over 280 share CFDs on the MT5 trading platform. The account currencies available are the USD and EUR. Commissions of $0.02 per share with a minimum of $15 are charged for every transaction. The stop out is 20% and orders are instantly executed.
Amana Active Account
This account is specially designed for high-volume traders who trade frequently. The minimum deposit required in $25,000 and account holders are expected to trade at least $100 million worth of trades every month. Account holders get discounts on trading costs, customized EAs and indicators, trading signals, VPS and personal relationship manager.
TradeLoss Recovery Account
This account is designed to for traders who wish to get compensations for their trading losses. It uses the Non-Zero blockchain (NZO) technology to set up the traders to trade against themselves. All principal losses are shared in percentages and repaid back to the losing clients as NZO tokens which can be exchanged for funds and deposited back into the trading account. The minimum deposit is $50 while the maximum deposit is $3,000. The maximum leverage is 1:500 and the spreads start from 1.4 pips. The account is denominated in USD. There are no commissions on forex and cash CFDs but $10 per lot commission is charged on future CFDs.
This account is designed for VIP clients who trade frequently and has a minimum of $250,000 trading capital. Account holders benefit from very low spreads, reduced charges, personal account manager and personal coaching from Amana Capital experts.
Amana Capital Review: Customer Service
The award winning Amana Capital customer support desk is always available 24/5. To receive a call from a support representative, fill the ‘Request Call Back’ form on the website. Website visitors can also fill the form titled ‘We got your message’ and a support representative will reply be email. To chat with the support team, there are 6 platforms to choose from; WhatsApp, Live web chat, Telegram, We Chat and Facebook messenger. Up to 5 customer support phone lines are listed. The team can also be reached by email and the following social media channels: Facebook, Twitter, Instagram, LinkedIn and YouTube.
Amana Capital Review: Deposit & Withdrawal
- Bank wire transfer: The deposit fee is £6 but there are no withdrawal fees. It takes 3-5 working days to process bank transfers. The minimum deposit is $10.
- Credit/Debit cards: The cards accepted are Visa, MasterCard, Maestro and UnionPay. Card deposits are processed instantly and 1.5% fees are charged. Card withdrawals charges are covered by Amana Capital.
- Amana prepaid card: This is a special card issued by Amana Capital on request. The card can be linked to the client’s trading account and used for deposits and withdrawals. Clients can also use this card to withdraw profits from ATM or shop online. It is denominated in USD and expires after one year. The card is issued free of charge but $3 is charged anytime money is loaded into it and 1.5% cash withdrawal fees apply. The minimum load amount is $50 while a maximum of $2000 can be withdrawn from the ATM every day.
- Online payments: The options accepted are Neteller, Skrill, ePay, Perfect Money, Payeer, advcash, WebMoney, QIWI, Moneta and FasaPay. The minimum deposit is $10 and the deposit fees range from 2.5% to 6.5% depending on the payment gateway used. Withdrawals are charged from 0-4.9%.
As broker fees can vary and change, there may be additional fees that are not listed in this Amana Capital review. It is imperative to ensure that you check and understand all of the latest information before you open an Amana Capital broker account for online trading.
Amana Capital Review: Account Opening
To open an Amana Capital live trading account, visit the website and click on ‘Start trading’ to open the account registration form.
Select the account type, input your name, email, country, phone number and click on ‘Register’ once you have read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them. Then a 6-page form is displayed. Choose the account details, employment details, trading experience, financial worth, acknowledgments and upload the requried documentation. If all inputted data is correct, the account will be opened. From then on you can deposit and trade online with Amana Capital when you feel ready to do so.
Amana Capital Review: Conclusion
Regulated in 6 jurisdictions, Amana Capital is a strong player in the brokerage industry with cutting edge trading platforms, competitive spreads and modern technologies implemented.
Amana Capital offers over 360 assets to its global clientele for trading on the MT4 and MT5 trading platforms. All trading strategies are allowed including the use of EAs which automated the trading process. Multiple account types are available based on investment size and trading requirements.
The ZuluTrade social trading service is a solution for investors to choose from thousands of other traders in order to replicate their trades. MAM accounts can also be useful to some investors. The award winning Autochartist is a powerful tool that can assist with in-depth market analysis.
Despite these positives, the trader education provided on the website is not very comprehensive whilst a majority of the materials are not available in English. The trading brokers review team did not find the spreads and commission fees to be the lowest when compared to some of our best online brokerages.
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. Please read the “Risk Disclosure Statement” for further details.