Amana Capital Group debuted in the market back in 2010. It was initially introduced as a multi-jurisdictional foreign exchange brokerage firm with three headquarters in the United Kingdom, United Arab Emirates, and Cyprus. After a decade of providing financial services, it now operates with additional offices in London, Sri Lanka, and Malaysia. Since it is an international broker, it holds different regulatory licenses from formidable financial authorities including the Financial Conduct Authority of the United Kingdom, Dubai Financial Services Authority, Cyprus Securities and Exchange Commission, and the Financial Services Commission of Mauritius.
Presently, Amana Capital renders its services to over 80 countries, providing an impressive selection of instruments across multiple asset classes such as Forex, indices, shares, Contract for Differences, spot metals, and commodities. In addition to this, its excellent selection of platforms comes as another reason for its popularity, with clients provided with a well-rounded trading experience enforced by authoritative education and research materials.
Amana Capital Account Selection
Amana Capital offers a decent selection of five accounts. These accounts, which work in a tiered structure, are all equipped with unique trading conditions to give traders wider options. For those who might want to invest in Forex and CFDs, the Classic account will come favorable as this grants a minimum spread of 1.4 pips, maximum leverage of 1:500, and standard commission rates on CFDs- all for a minimum deposit of $50.
As for the Active account, the minimum funding needed is $25,000. For this amount, clients are then provided with $100 million worth of trading volume per month, active trader commission rates on both Forex and CFDs, portfolio manager, and an opportunity to utilize API Trading and a Virtual Private Server.
The Elite account, on the other hand, requires a minimum deposit of $250,000. Conditions included in this package were made more competitive as clients are provided with data tools and highly-customizable desk services. With the Shares account, there is no minimum deposit at all, and its leverage may be used up to 1:10. Note, however, that this has $0.02 commission for every share.
` Traders may engage in automated trading through the help of ZuluTrade, a copy trading account that allows clients to check, review, and follow winning strategies of industry professionals. More so, it offers social features, customizable instruments, and an excellent compensation scheme.
Benefits and Drawbacks
Amana Capital is popular for numerous reasons. The advantages it carries have been effective in increasing clients’ margin of profitability, in the same manner that it enables a holistic trading experience for all kinds of traders. These benefits are as follow:
- RiskPulse, TradeCaptain, and AutoChartist
- Commission-free Foreign Exchange Trading
- ZuluTrade and PAMM accounts
- Negative Balance Protection
- Islamic Accounts
- Intensive Level of Security
Similar to other brokerage firms, Amana Capital has its own set of downsides. To mention, its spreads are higher if we are to compare it with the industry standards. Cryptocurrencies, which are heavily traded across the financial markets, are not available. And lastly, the absence of a FAQ section comes disadvantageous for those in need of immediate resolution.
Research and Education Section
While the majority of brokerage firms in the market have provided a separate section for learning, Amana Capital seeks to set itself apart by providing quality contents for its research and education section.
There is a daily feed of economic news and market reports, complemented by video commentaries. It also offers intensive webinars on technical analysis and other pertinent topics, ranging from fundamentals of trading up to trading know-hows. What’s commendable about this is its sophisticated approach since it is thoroughly divided into basic, intermediate, and advanced levels.
Amana Capital provides multiple means to communicate with its clients and provide assistance. It has one active telephone line for each region, and queries may also be placed via e-mail. In addition to this, the broker provides support through WhatsApp, Twitter, Messenger, WeChat, Telegram, and more commendable, Live chat.
If we are to disregard some of the company’s downside, Amana Capital remains a strong competitor in terms of conditions. Its asset classes, for one, are impressive in a way that they render themselves adequate for portfolio upgrade. The education and research section also comes favorable as it houses authoritative learning materials. With this in mind, Amana Capital still makes a decent trading platform for your investment.