Amana Capital Reviews 2019 | Amana Financial Services

Looking for the best forex broker? Your search is over. Read our Amana Capital review to evaluate the pros and cons of this online forex broker and choose on the basis of data if it is suitable for your needs. This article is dedicated to reviewing one of the best regulated brokers and to give you a clearer idea of what to expect in case you decide to open an account with them.

Amana Capital Review

Amana Capital is a global leader in online brokerage services when it comes to Forex and CFD markets. They are regulated by several different bodies around the world including the Financial Conduct Authority in the United Kingdom, meaning that you have a significant amount of safety built into your account.

Account types

Amana Capital offers four different account types, including the Amana Mini MT5, Amana Basic MT4, Amana Elite MT5, and Amana Basic MT5. You will notice that the accounts all feature MetaTrader platforms, but both version 4 and five being offered. The accounts feature zero commission or low commission on FX, in the Elite account. Leverage does vary per account, with the Mini account offering 1:500, the Basic account offering 1:300 in MT5, the Basic account offering 1:500 in MT4, and the Elite account offering 1:100 leverage. The Mini account offers 28 currency pairs, gold, and silver. The other accounts offer 54 currency pairs, as well as 24 future/commodity/indices/cryptocurrency markets. All accounts offer as little as 0.01 lots.

Trading conditions and deposits

Initial deposit

depending on the account you are choosing, the initial deposit changes. For example, the Amana Mini MT5 only requires $50, while the Amana Basic MT4 requires the same. Moving up from there, the Amana Basic MT5 requires $2000, while the Amana Elite MT5 requires $50,000. Obviously, the higher the barrier to entry the more advantages that you can get. Keep in mind that the Amana Elite and Amana Basic MT% accounts are based upon commissions per million in the Forex markets, zero commission in cash CFD markets, and $10 per lot on futures CFD markets, which is a bit high in my estimation.

Spreads

Obviously, with the higher end accounts the spreads are much tighter. On the lower end accounts, the minimum spread for EUR/USD is 1.4 pips. However, in the Elite account it is 0.4 pips. Spreads in the CFD market can vary, but to give you an idea as to what they can be, the US NASDAQ 100 CFD is 1.8 pips, while the DAX 30 is 1.9 pips.

Leverage

leverage at Amana Capital varies from 1:500 in the little account, with the higher end accounts going down to 1:100. It should be noted that if you have more than $100,000 in your account, the leverage is dropped to the 1:100 amount regardless of what account you started out with. Leverage is generous, and quite frankly more than enough for the average trader.

Range of markets

You have the ability to trade Forex, spot metals, spot energies, cryptocurrencies, stock indices, and CFD’s on futures markets. This gives you the ability to trade the world over, and quite frankly is more than enough to get you going. However, if you are looking to trade futures markets, you are probably better off using an actual futures broker as the round-trip commission is rather large.

Extras

Amana Capital offers a bit of extras but quite frankly it’s not anything to write home about. The broker is highly regulated and offers strong execution services. For those looking for more information on how to trade, this is probably not where you start.