Amana Capital Review

Review

Amana Capital Group is a financial services group specializing in providing brokerage services in currencies, commodities, and stock indices.  The Group comprises four main entities-- Amana Financial Services-UK,  Amana Capital-Lebanon,  Amana Capital-Cyprus, and SouqElmal.com – UAE and each entity is regulated and authorized by different reputable regulatory bodies i.e. FCA, BDL and CySec respectively. The Group also functions under MiFID authorization.

The company was established in Lebanon in 2010 and currently spans many countries on several continents, employing more than two thousand investment professionals.

Accounts

Amana Capital offers one standard type of account. However, this account can be set up in individual, joint or corporate configurations. The minimum deposit required for opening any account is $1000.

Every account opened at Amana Capital is a Swap-Free account and operates in accordance to Sharia laws which means that interest is not applied on trades held overnight.  

 

Education

There are many educational tools provided at Amana Capital. Market news is reported daily and market reports are posted as they come in. Video commentary accompanies the market reports but these seem to be in Arabic only. Amana Capital’s proprietary financial news, research and educational services are provided via SouqElmal.com.

There are English language seminars on technical analysis and other topics taking place in various locations throughout the month and the time and place are posted on the website. The webinars are divided into basic, intermediate and advanced levels and are all in Arabic.

Social trading is available at Amana Capital and the provisions allow traders to interact with regional traders, open discussions and enter current ones, share their experience and receive feedback from other members. The community offers the opportunity to build productive interactions and exchange expertise with other traders and research analysts in the region.

Traders at Amana Capital can benefit from quite a few different calculators. The Margin Calculator is used to evaluate the margin requirements needed to open or hold opened positions according to the trading account’s value.

The Pip Value Calculator informs traders of the value per pip for any traded Forex instrument and is a tool that can be to calculate and plan trading orders when dealing with major currency pairs or non-standard ones.

The Position Size Calculator calculates the size of the position in units and lots while the Profit and Loss Calculator helps to evaluate the predicted profit or loss from any operation planned in the Forex market.

Traders can use the Fibonacci Calculator to generate basic Fibonacci retracement and extension values in both up and down trends by entering the chosen high and low values and the Pivot Calculator helps to identify the entry market points in its bullish and bearish cases.

There is also an interesting Currency Converter that can be used to calculate the rates of currencies and precious metals instantly.

Features

Amana Capital offers several additional ways for traders to make extra money. The company’s “Introducing Broker” partnership program offers full support to corporations, individuals and traders of all experience levels in developing their own trading business and Amana Capital works closely with them by providing superior incentives and success opportunities.

Their "White Label" allows traders to grow and expand their business by providing them with a comprehensive set of solutions that will benefit from the company’s trading platforms and software branded with the trader’s company name and logo.

Asset Managers are also welcome.  An asset manager has direct access to the company’s global network of international banks and financial institutions liquidity without trade size restrictions. Amana Capital’s multi-account management solutions are specifically designed and tailored to meet all business needs.

Bonuses/Promotions

At first glance I didn’t find any bonuses or promotions. I finally located the referral promotion tucked away amid the partnership options.  Traders at Amana capital will receive a bonus for every successful referral made. The referral program is open to all clients. I didn’t find any additional information when doing this review.

Deposits/Withdrawals

Amana Capital offers a variety of payment options for funding an account.  It accepts credit and debit cards, bank transfers, checks and several online payment plans. There is a $6.00 fee charged by Barclays Bank on bank wire transfers and this is deducted from the net amount received.

Amana Financial Services does not charge any fees on debit or credit cards transactions, however a 1.5% fee will be deducted as part of the cost charged by the merchant payment solution provider. Neither is there a charge on Skrill transactions, but here too a 2% fee will be deducted as part of the cost charged by the provider of the service.

These fees are not the accepted industry standard for funding methods.    

Requote option

 

Customer Support

Traders can contact a representative by telephone at the different Amana Capital locations i.e. London, Dubai, Riyadh, Al Khobar, Limassol, Cyprus and Lebanon. Email addresses are provided as well. Live Chat and call back are available throughout all the pages of the website and messages can be submitted via an online form.

Chat with Amana Capital

We also emailed the Amana Capital team and received a response in about 20 hours.

Email From Amana Capital

Conclusion

Amana Capital offers a solid trading experience for traders worldwide and especially for those in the MENA region looking for a reliable, local Forex broker. It offers comfortable and profitable trading conditions including competitive bid/offer spreads starting from as low as 2 pips, no hidden commissions on spot contracts and more. Trading is easy and comfortable both for professional traders and the novices in the industry.

 

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Features

There are many worthy features offered by Amana Capital. First and foremost are the vast number of educational tools that can benefit traders with all levels of trading experience. It is unfortunate, however, that some of these tools—such as the webinars—are available in Arabic only. Maybe at some future date, the broker will offer webinars and seminars in English and other languages.  The MetaTrader4 platform, offered in its various different applications, is a major plus for traders.

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Platforms

MetaTrader4

The MetaTrader4 trading platform can be downloaded directly from the Amana Capital website. The platform support Expert Advisors and Trailing Stops and can be run on Mac computers. It can be displayed in several different languages.

MetaTrader 4 (MT4) has a user-friendly and understandable interface that allows traders to view their orders, trades, account details as well as use advanced technical analysis tools to analyze the financial markets.

MetaTrader4 Mac

If you are a MAC user, you no longer need to install “Parallel Desktop” or use “Boot Camp” to be able to run your MetaTrader 4, all you have to do is to download the “Amana Capital MetaTrader 4 Mac” Application and you’ll be able to start trading immediately. This application does not require any additional software installation and presents all the MT4 features available on Windows.

MetaTrader 4 for Mobile & Tablets

At Amana Capital you are able to trade your live or demo account on the move from your mobile and tablet devices. Our mobile trading application keeps you updated with the latest real-time quotes and allow you to quickly place orders, see open positions plotted on live charts, monitor account information, easily access reporting and lots of other features. The Amana Capital MetaTrader 4 for Mobile & Tablets is fully compatible with the major operating systems and can be downloaded from App Store or Google Play.

MetaTrader 4 Multi-Terminal

Amana Capital MT4 Multi-terminal allows you to manage several trading accounts through a single platform and gives you a list of tools needed for managing all your accounts at one and at the same time.

[For retail clients, Amana Capital offers "Amana Capital Trader", a licensed and customized private-label version of the MetaTrader 4 software.]

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User Reviews

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