Amana Capital Review

Author By Jeffrey Cammack Author Information Updated: November 6, 2020
Overall Rating
4.05 4.05 / 5
Min. Deposit
USD 200
Regulators
Trading Desk
Trading CostTrading Cost Information
USD 14
Website Language
English, Arabic, Chinese
Support Language
English, Arabic, Chinese
AlertAccepts Australian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Amana Capital Group is regulated by the CySEC, FCA, and the DFSA.

Summary

Amana Capital offers market-executed trades on the MetaTrader platform, solid execution, advanced fundamental and technical analysis, tight spreads on the advanced accounts and only 50 USD to open an account. It is one of the best-regulated brokers available to individual traders and has taken a modern approach to their software offering – slowly phasing out MT4 and pushing MT5 instead.

A trader looking for MetaTrader compatibility, excellent regulation, and a wide range of CFDs available for trade, should consider Amana Capital as a frontrunner.

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111115/ 5
Education & Research
110.5002.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Bonuses
$30 New Customer Welcome Bonus

Account Information

Base Currencies
USD, GBP, EUR
Number of FX Pairs
54
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes

Trading Conditions

Min. Spread
0.10 pips
Commission
Fees Included in Spread
EUR/USD
1.4
GBP/USD
1.9
USD/JPY
2
Max. Leverage
500:1

Company Details

Company Name
Amana Capital Ltd
Founded
2011
Office Locations
United Kingdom, Cyprus, Lebanon, United Arab Emirates

Regulation

Amana Capital is a collection of Amana owned companies around the world that operate independently to ensure that the correct authorities regulate each of them.  From a regulation standpoint, Amana Capital Group is one of the best-regulated brokers available, so if regulation is something you value more than anything else, then this could be a broker for you.  The only primary regulator I feel they are missing is ASIC, but with FCA and CySec together, there is no real practical need for this additional regulation.

  • 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)

Account Types

Amana Capital has connected their account types with platforms.  There are four account types available with 3 of them centred around the MT5 platform, which is not usual with other brokers.  As is typical with brokers, the accounts that require more substantial deposits will reward clients with tighter spreads. 

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Classic
USD 50
500:1
1.4
None
Account Details

The account types details are:

Amana Mini –  MT5

The mini account has spreads from as low as 1.4 pips, but the account is limited to 28 forex pairs.  For anyone starting, you will find this number of pairs to be adequate, but as you grow and begin to trade exotic pairs, this will be a limitation.  This is a good starter account because, because only requires a 50 USD minimum deposit and there are no additional fees.

Amana Basic – MT5

MT5 Basic is a good option if you want to use MT5.  But if you’re going to use MT4, then the next account offering is better.   The MT5 Basic account has tighter spreads compared to the Mini account starting at 0.9 pips with a much more full range of currency pairs available including commodity and Cryptocurrency CFDs.  MT5 Basic requires a 2000 USD minimum deposit, and they only charge spread which is out of the norm and appreciated by traders.

Amana Basic – MT4

MT4 Basic is the only MT4 account on offer, and unlike the name suggests, it is closest to the Mini MT5 account listed first above.  With a 50 USD minimum deposit, you can expect spreads from 1.4 pips and leverage up to 1:500.  Where it differs from the MT5 Mini account is that you can trade the same wide range of Forex, cryptocurrency and commodity CFDs available in the MT5 basic account.

Amana Elite – MT5

The MT5 Elite account is the Amana professional account.  Spreads are super tight at 0.4 pips with small commissions on a large volume of trades. Leverage is offered up to 1:100, and the full suite of currency pairs and other CFDs are available – the same set as is included in the Basic accounts above.  The minimum deposit for this account is 50,000 USD.

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.

Spread and Leverage

Leverage varies per account. When investing more substantial amounts of capital, the leverage becomes limited because of the risk involved with trading large volumes with high leverage.  The leverage on accounts varies from 1:100 to 1:500. The spreads on FX currencies vary as well based on account.  The MT5 Basic account will have the best spreads compared to the MT4 basic and MT4 mini accounts.   Remember that these spreads are variable.  The spreads start at:

  • 4 pips on the MT5 Mini & MT4 Basic accounts.
  • 9 pips on the MT5 Basic account.
  • 4 pips on the MT5 Elite account.

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.  But Amana Capital does charge a fee for handling deposits dependent on the payment method.  The commission can be as high as 1.5% but on withdrawal. Withdrawal takes about 3-4 days for a client to receive the funds back on their credit card.

Customer Support

The customer service team is available 24h seven days a week.  Contact them via telephone, call back, email and other technologies like WhatsApp, Viber, Twitter, and Telegram.  Having this much access to customer support and the trading desk is much appreciated by experience and beginner traders alike.

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.

AlertAccepts Australian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Amana Capital Group is regulated by the CySEC, FCA, and the DFSA.
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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.05/ 5
USD 200
Market Maker
Cryptocurrencies, Forex, Indicies, Equities
54
4
  • Well regulated
  • Tight spreads
  • Great customer support
  • High minimum deposit
  • Limited education
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
110.5002.5/ 5
1110.503.5/ 5
111104/ 5
of retail investor accounts lose money when trading CFDs with this provider
500:1
0.10 pips
Yes
Yes
Classic
Yes
MT4, MT5
Bank Transfer, Mastercard, Neteller, Fasapay
Fees Included in Spread
1110.503.33/ 5
AUD 50
Market Maker
Commodities, Cryptocurrencies, Forex, Equities
47
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
71% of retail investor accounts lose money when trading CFDs with this provider
400:1
1 pips
Yes
Yes
Professional, Standard
Yes
etoro
Bank Transfer, Skrill, Paypal
Fees Included in Spread
1110.503.73/ 5
AUD 500
Market Maker
Commodities, Forex, Equities, ETFs
48
0
  • Good range of accounts
  • Wide range of assets
  • Wide spreads
  • Limited education
  • Limited market analysis
  • High minimum deposit
111104/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
111003/ 5
69.7% of retail investor accounts lose money when trading CFDs with this provider
400:1
3 pips
Yes
Yes
Gold, Islamic, Mini, Platinum
Yes
MT5, Sirix
Bank Transfer
Fees Included in Spread
Visit Broker
AlertMost retail CFD accounts lose money. Your capital is at risk.

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