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Amana Review
Amana is a Dubai based trading app. Its old site, amanacapital.com, is now offline, replaced by amana.app. The DFSA says app users are not clients of its regulated Dubai entity.
Min Deposit
N/A
Spreads From
Amana claims spreads 60 to 70 percent below its own older pricing
Max Leverage
Up to 25 to 1 on crypto, per its own site; other limits vary by tier
Platforms
amana app, amana WebTrader
Pros
- One entity, Amana Financial Services Dubai, holds a real DFSA license
- Wide product range, forex, gold, crypto, and thousands of US and MENA stocks
- Says it serves more than 500,000 users through its amana app
- Group also holds a CySEC license in Cyprus for EU facing business
Cons
- The DFSA itself says amana app users are not clients of its regulated entity
- App users sign up instead with a Labuan, Malaysia licensed company
- Its old amanacapital.com website is now offline and unreachable
- A widely repeated FCA number for its UK arm belongs to another firm
- A related Lebanon entity had its central bank license revoked
Amana started in Dubai as Amana Capital around 2010. It has since moved its main product from amanacapital.com, now offline, to a new app called amana.app. The app offers forex, US and MENA stocks, gold, crypto, and other CFDs, and the company says it has more than 500,000 users.
In January 2023, the DFSA published an alert about the Amana Capital Group. It said only one entity, Amana Financial Services (Dubai) Limited, is authorised by the DFSA. The amana app is run instead by a different group company, AFS Global Limited, licensed by the Labuan Financial Services Authority in Malaysia, a much lighter regime than the DFSA.
Group entities also hold a CySEC license in Cyprus, and a related Lebanese entity once held a license from that country's central bank, since revoked. Many review sites repeat an FCA number for a UK Amana entity, but that number now belongs to an unrelated company on the FCA's own register, so its current UK status is unclear. Check which entity is signing you up.
Max Leverage
Up to 25 to 1 on crypto, per its own site; other limits vary by tier
Spreads From
Amana claims spreads 60 to 70 percent below its own older pricing
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
