❌NON-RECOMMENDED BROKER
This broker was not featured in our 2024 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
We review all brokers to a strict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. All brokers are then given a score out of 100. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information.
If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker. Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country.
Amana Capital is part of a group of companies specializing in providing brokerage services across a number of different countries, with strong emphasis on the Arab community. It comprises Amana Financial Services UK, Amana Capital Lebanon, Amana Capital Cyprus, ad SouqElmal.com UAE. All entities are licensed and registered in their own locations by various local regulatory bodies. These include the FCA and CySEC. The group itself also operates in accordance with the latest MiFID regulations. Brokerage services in currencies, stock indices and commodities are all available for trading, and services are provided by more than 2,000 investment professionals.
Amana Capital is an award winning broker and has received some prestigious awards including Best Middle East Forex Broker, Best Regional FX Broker, and an award for Customer Service Excellence.
There is only one type of account if you choose Amana Capital as your Forex broker, but it can be set up for individuals, joint of corporate clients. The minimum deposit requirement is $1,000. Amana Capital offers only Swap Free accounts, and there in no interest applied on overnight trades, which is in accordance with Sharia law.
| Bonus | No |
| Regulation | FCA, CySEC |
| Mobile | Yes |
| Instruments | Forex, indicies, commodities, shares |
| Website | www.amanacapital.com |
| OTHER BROKERS | |
Education is high on their list of priorities
It seems that Amana Capital takes the education of their clients very seriously. Market news is reported daily and market reports are posted on the site as soon as they are made available. Which means that traders are always kept well informed of market changes. There are video commentaries to accompany the market reports, but these seem to be mostly in Arabic.
But that doesn’t mean you’re going to be left out if English is your native language. There are seminars relating to technical analysis and a range of other topics taking place throughout the trading month, and the time and locations are well detailed in the website.
If Social Trading is your thing then Amana Capital has a lot to offer. There are features that allow traders to interact with other traders in their location, the opportunity to open discussions and enter those that are already up and running. It provides features for traders to share their experiences as well as receive feedback from other traders. Social trading has become very popular nowadays, and its no surprise, because there is so much to learn from others traders.
Other tools available to heighten the experience
Pip value calculator – This tool keeps traders informed of the value per pip on any traded Forex instrument. It can also be used to calculate and plan trading orders, particularly when trading major currency pairs, but also with non-standard ones.
Fibonacci calculator – For those traders who use the Fibonacci system it generates basic retracement and extension values. This is for both up and down trends and requires the entry of chosen high and low values.
Position size calculator – This tool calculates the size of any position in units and lots.
Profit and loss calculator – This tool is used to help a trader predict profit and loss for any planned operation.
Pivot calculator – This helps traders to identify entry market points in bullish and bearish cases.
Currency converter – This is a great tool to have as it can be used to instantly calculate the rates of currencies and precious metals.
Extra ways for traders to make money
We weren’t able to find any bonuses on offer, apart from their referral program. But there are still a few ways traders can make a little extra money. One is the Introducing Broker partnership program which supports corporations, and individuals who want to develop their own trading business. It offers support and provides incentives and success opportunities.
There is also a White Label solution that helps traders to grow and expand their business. It provides a complete set of solutions, benefiting from the company’s trading platform and branded software.
Amana Capital also welcomes Asset Managers, who are given direct access to the company’s global network of banks and financial institutions, across the globe. Without any restrictions on trade size.
Amana Capital supports a variety of payment options
Amana Capital accepts the usual selection of payment methods, including credit and debit cards, bank transfers, and a number of other online payment methods. Amana doesn’t make any charges for payments but the provider of the payment service may levy their own charge, which is usually deducted from the amount.
Customer service is available from a number of representative office, by telephone. There are also a number of different email addresses, as well as the option of live chat and a call back service.
We found Amana Capital to be a broker that offers a solid trading experience, for traders all over the world. But especially for those in the MENA region. Bid/offer spreads are very competitive and start from as low as 2 pips. There are no hidden commissions and we found the whole experience to be open, transparent and easy.
What’s next
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Frequently Asked Questions (FAQs)
Our review of Amana Capital found that the broker is regulated by a variety of authorities including the UK FCA, DFSA, CySEC, CMA, LFSA and FSA (Mauritius).
No, Amana Capital is not a scam as it’s well regulated by a range of international authorities. That said, our broker experts do not recommend trading with this firm. Instead, we advise that you select one of our top-rated forex brokers that has passed our tested and accurate reviewing process.
You can choose from two main account types at Amana Capital. The Classic account is designed for beginner to intermediate traders whilst the Active Trader account is designed for high-volume professionals. Amana Capital also offers a copy trading account via ZuluTrade and a demo account
The minimum deposit limit at Amana Capital depends on what type of account you open. The Amana Classic account has a minimum deposit limit of $50, whilst the Active Trader account has a much higher minimum limit of £25,000.
With the Amana Capital Classic account, you will not pay commission charges on forex trades or cash CFDs. The broker does, however, charge $10 per lot on futures CFDs and $0.02 per share on Share CFDs.
