- No minimum deposit
- Quick registration
- Regulated in the Middle East
- MT4 only
- No PayPal or Moneybookers payments
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Amana Capital is ranked #85 of 267 Forex Brokers.
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Though only founded in 2010, Amana Capital has already claimed its place among the top Forex brokers in the MENA region. As one of the few Forex brokerages regulated by the Central Bank of Lebanon, Amana Capital offers its customers a safe place as well as the highest level of transparency in regards to their trading conditions. We’ve examined Amana Capital’s services from start to finish and recorded our findings in the Amana Capital review below.
Founded in: 2010
Headquarters: Beirut, Lebanon
Maximum leverage: 1:100
Minimum deposit: None
Languages available: English and Arabic
Regulation: Central Bank of Lebanon
When trading with Amana Capital, traders have their choice of MetaTrader 4 platforms, in downloadable form and mobile trading platforms, as well as a beta version of the web-based MetaTrader 4 platform. Mobile trading is available for iPad and iPhone, as well as for BlackBerry phones.
During our Amana Capital review, we tested the downloadable platform, which functions as expected and offers excellent charting tools and multiple screens through which traders can monitor different changes. One thing we noticed nearly immediately, however, is that prices aren’t automatically requoted. Instead, traders are offered the option of choosing whether or not they wish to accept the requote or not. Because the market moves so quickly and the platform relies on real time quotes, requotes expire if they aren’t selected within a few seconds and you’ll need to return to the main menu for another quote.
While we always appreciate the option for an alternative trading platform, there’s no question that the Amana Capital’s MetaTrader 4 is a reliable option.
In addition to the standard features offered by the MT4 platform, such as advanced charting tools and over 2 dozen languages to choose from, Amana Capital offers some of its own special features, including the ability to get daily pricing alerts via SMS, commission and interest-free rollovers and no minimum deposit requirements.
Though the company doesn’t offer variable spreads, it does provide competitive fixed spreads which can be an asset to any competitive trader. Although the company’s website touts the ability to have mini and micro accounts, we found that the information about the different account types wasn’t quite as obvious as the information about the company’s trading conditions. Still, with no minimum deposit, we have every confidence that these small accounts are just as easy to open and operate as all other aspects of the site and the trading platform.
The customer service offered by Amana Capital was among the best we’ve encountered throughout the completion of dozens of Forex brokers reviews. Chat support was instantly available, and the representatives we interacted with were both polite and knowledgeable when answering both technical and procedural questions. Phone support is available locally in Lebanon only, though traders are, of course, welcome to call the company directly from anywhere in the world, or to request a callback which can save both time and money.
Chat with Amana Capital
We also emailed the Amana Capital team and received a response in about 20 hours.
Email From Amana Capital
Ease of Use
A preliminary look at Amana Capital’s website is a good indication of the user-friendly services that lie ahead during the registration and trading processes. A one-page registration was refreshing and simple, though it should be noted that additional fields expand as you input your information, so the form isn’t quite as short as it initially appears. Still, opening a real account took only a few minutes, and opening a demo account took mere seconds. Funds can be deposited by wire transfer to one of several banks in Lebanon and the UAE, or via credit card, check or cash deposit. Unfortunately, PayPal is not currently available for Lebanese companies.
Once registration is complete, using the trading platform is straightforward, as mentioned above. Traders can also peruse Amana Capital’s thorough information section which includes basic trading guidelines for new traders and regular analysis to give experienced traders the edge they need to succeed.
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. We have no doubt that the strides made by the company in the past few months have paved the way for additional good things from this brand in the future.