Is Amana Capital a Legit Broker?
Is Amana Capital a Legit Broker?
Regulated By: FCA, CySEC, CBL, DFSA
Headquarters: UK, Cyprus, Lebanon, UAE
Founded In: 2010
Platforms: MetaTrader 4 and 5
Instruments: Forex and CFDs

Our Amana Capital review found this broker’s organization to be a bit too confusing for most brokers with four operations running in tandem. They have decent offerings, but traders can’t be sure what legal entity their trades are really going through, leading to legal confusion. Most traders would be better off elsewhere than with Amana Capital fx.

Amana Capital Review: Regulation

Our Amana Capital review found that the broker spreads their services across several distinct legal companies for the different areas that they offer their services. Within the UK, Amana Financial Services Ltd operates the broker with a current FCA license. Their Cyprus branch is Amana Capital Ltd, which is a registered Cypriot Investment Firm with CySEC. In Lebanon, the broker has a license with the CBL through the operating company Amana Capital SAL. The broker also operates within the United Arab Emirates, holding a DFSA license with their operating company Amana Financial Services (Dubai) Limited.

Amana Capital Review: Benefits

Traders who first go through the Amana Capital login process will find a low minimum deposit requirement, just $50, to get started. The spreads offered by the broker are mostly passable, although nothing truly spectacular. The broker also offers both MetaTrader 4 and 5, letting traders choose between the tried and true older version and the later version’s new features. The broker holds many promotions, although the various regulations that the different branches are under complicate availability. They offer referral bonuses for traders that get friends to sign up.

Broker Security

Seeing that each of the four branches of the broker are distinct legal entities with different security requirements, much depends on which one a trader is actually trading with. Those dealing under the UK and Cyprus branches enjoy numerous retail investor protections brought on by CySEC and the FCA. Both regulators enforce minimum capital requirements for brokers, protecting against unexpected bankruptcies. They also have compensation funds for when a broker does collapse, ensuring that traders can recover at least some of their investments. The SBL and DFSA of the other two branches aren’t known for offering the same level of security as the FCA and CySEC.

Amana Capital Review

Deposit and Withdrawal Methods

Again, our Amana Capital review discovered that the payment and withdrawal methods available varied between the specific branches. Most accept the standard methods, credit and debit cards, wire transfers, Skrill, Neteller, and other online payment processors. Within Lebanon, the only available options are cards and wire transfers. Making withdrawals is a sticky subject for this broker, with many online claims of Amana Capital scam stating that the broker doesn’t process withdrawals as quickly as advertised.

Amana Capital Conclusion

As is the case with many other brokers with similar structures, a lot of traders have difficulty determining which company they’re actually doing business with. Having multiple brokers under multiple regulators under the same name complicates legal matters. It’s not entirely clear who to go to when you need to get your money back. You can cut through his red tape by contacting our team to recover your funds with a quick and effective chargeback solution.

Is Amana Capital Regulated?

Yes. The four branches of the broker are regulated by the FCA in the UK, CySEC in Cyprus, CBL in Lebanon, and the DFSA in the United Arab Emirates.

Where Is Amana Capital Based?

Being four separate companies, the broker has four separate headquarters, one each in the Uk, Cyrpus, Lebanon, and the United Arab Emirates.

Who Owns Amana Capital?

There are four companies behind this broker, Amana Financial Services Ltd, Amana Capital Ltd, Amana Capital SAL, and Amana Financial Services (Dubai) Ltd.

How Long Does it Take to Withdraw from Amana Capital?

The broker claims that everything except wire transfers, which take 3 to 5 days, clears instantly. Numerous online complaints cast serious doubt on that claim.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

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