Forex is a business without borders and even found its way into the strict and conservative Middle East. The Islamic countries might be traditional and live by the laws of Sharia, but Middle-Easterners seem to have nothing against Forex trading, and they are as active in the market as the rest of the world.
Amana Capital is a Forex broker from Lebanon, and it is known beyond the country’s boundaries as well. This Amana Capital review will take you to the Asian market form an Islamic point of view. Let’s find out if the Middle-Eastern broker offers the same as American and European brokers or not.
Background Check of Amana Capital
This broker was established in Beirut, Lebanon, in 2010. We see that the broker has been participating in the market for already six years and that it managed to become famous and known outside of Lebanon. The broker offers CFDs, Forex and other assets (oil, gold, metals, etc.) for trading. This sounds pretty much familiar since the system resembles EU trading.
With a desire to trade internationally, especially in Europe, the broker secured a CySEC and MiFD license. This means that the broker meets EU standards and is free to offer its services to the wide EU community. The CySEC commission keeps a large register since many companies run their offices from Cyprus. Another license that Amana Capital obtained is the IFC licenses. The IFC (International Coach Federation) is known for its Code of Ethics and independent Commission members which examine and monitor the behavior of their subjects of regulation. Moral and honesty pretty much define the IFC which tries to pass on the true values of business.
The Amana Capital Platforms
The broker obviously examined what platforms are popular in Europe, and as the majority of brokers, Amana Capital also came to the conclusion that Meta Trader 4 is the best choice. The sophisticated platform is an all-around platform with great features suitable for both, beginners and experienced traders. The exquisite platform comes with free signals, a free demo account, auto-trading options, and much more.
Amana Capital also offers the MT4 Web terminal which is the browser-based version of the MT4, and both versions support ECN and DMA trading. Since mobile trading integrated itself into the business as an inseparable part, the broker provides the corresponding Amana Capital mobile app which helps traders to control their trades in every moment if they want to.
As with the platform, the broker also decided to have one general or universal account for all traders. The minimum deposit is $1000 which requires no commission. The broker offers variable spreads which start from 1-3 pips on major currency pairs (USD, GBP, CHF, and EUR). The minimum tradable lot is 0.01 lots, and the leverage is 1:100.
The Forex market has lately witnessed a reduction of leverage since new laws do not allow too high leverages anymore. The margin call is 10%, and the MT4 provides for scalping and hedging optimizing every trading experience. The account also offers rebates per 1 standard lot.
Amana Capital Bonus
Amana Capital does not offer a welcome bonus so if you register with the broker make sure to deposit enough for trading since no additional trading credit will be added to your account. Nevertheless, the broker is not completely bonus-less. As we mentioned above, there is the Amana Capital rebate per standard lot traded. Also, the broker offers referral bonuses, so make sure to persuade your friends to join you in the market under Amana Capital, and you will be generously rewarded. Amana Capital bonuses are very transparent, and there are no hidden requirements.
This broker offers different payment methods since it trades in international territories. Nevertheless, Amana Capital could offer more payment methods since traders hate to open up new e-wallet accounts just because a broker does not support their favorite e-wallet. At this moment, you can deposit and withdraw via the
- Standardized wire transfer,
- Credit cards,
You can fund your accounts in euros, USDs, YPYs, CHFs, GBPs. The withdrawal processing policy is also clear and transparent whereby the broker handles withdrawals within one business day. The broker also supports PAMM services (for investment companies, insurance brokers, etc.). Amana Capital does not charge any fees on your account balance.
Amana Capital Customer Support
The customer support is available in English and Arabic. You can reach the customer support located in offices of London, Riyadh, Limassol (Cyprus), Beirut, Dubai, and Al Khobar. The usual contact forms are in place, like the e-mail, live chat, and the phone line. Amana Capital also offers various educational materials were many questions are already answered, but if you are too lazy to look for it, just contact the Amana support team and get your information first-hand. The customer support does its best to be available around the clock.