Amana earns the Silver Standard band with 66.9 points, and its highest regulatory tier is Tier 1 through the FCA and CySEC. The primary risk flag is that safety depends on the contracting entity, since accounts opened through the Amana app reportedly onboard under AFS Global in Labuan. Confirm which entity opens your account before you deposit.
Introduction
This Amana review answers one question directly: is Amana legit? Based on publicly available information as of September 28, 2026, yes. Amana is a real, multi-licensed broker, but protection varies sharply by the entity that holds your account.
Amana, formerly Amana Capital and operated by Amana Financial Services UK Limited and registered in the United Kingdom, holds an active authorization with the Financial Conduct Authority under firm reference number 605070. The broker operates its retail platform at https://amana.app. The group runs six licensed entities across the United Kingdom, Cyprus, Dubai, Mauritius, Labuan and Lebanon, and it rebranded from Amana Capital to Amana in 2022. Its mix of Tier 1 licensing, Middle East and North Africa share access and offshore leverage explains its market relevance. Under our four-factor methodology, Amana earns the Silver Standard band with 66.9 points.
Regulation & Safety
Amana is regulated by seven bodies across six group entities, and two of them are Tier 1. Amana safe depends on the contracting entity, because client protections differ by license.
Under our Four Floor Tests, we checked activity licensing, product controls, capital safeguards and enforcement oversight for each regulator. The FCA and CySEC pass all four. The DFSA passes with mid-shore classification. The Labuan and Mauritius regulators leave leverage largely to firm policy. Lebanon’s Capital Markets Authority fails the product-controls test, because FxScouts reports no leverage restrictions there.
| Regulator Name | Tier Status | License Number | Key Client Protections |
|---|---|---|---|
| FCA (Amana Financial Services UK Ltd) | Tier 1 | FRN 605070 | 1:30 retail leverage cap, negative balance protection, segregated client money, FSCS eligibility |
| CySEC (Amana Capital Ltd) | Tier 1 | 155/11 | 1:30 leverage on major pairs, negative balance protection, margin close-out, segregated funds |
| DFSA (Amana Financial Services (Dubai) Ltd) | Tier 2 | F003269 | 1:30 retail leverage, negative balance protection, margin close-out |
| LFSA Labuan (AFS Global Ltd) | Tier 2 | MB/18/0025 | 1:100 leverage per FxScouts, firm-level policy governs other safeguards |
| FSC Mauritius (ACG International Ltd) | Tier 2 | C118023192 | Segregated funds, no statutory leverage cap |
| CMA Lebanon (Amana Capital SAL) | Tier 3 | 26 | Limited regulation, no specific trader protection |
Amana regulated status therefore looks strong on paper. One detail matters most. FxScouts reports that accounts opened through the Amana app onboard under AFS Global in Labuan. Retail clients outside the UK, EU and UAE, including Philippine residents, should confirm their contracting entity before depositing. Offshore-style accounts carry maximum leverage of 1:500 on forex, against the 1:30 cap that FCA and CySEC clients receive.
Retail clients of the UK entity qualify for the Financial Services Compensation Scheme, subject to eligibility rules. Other entities offer no comparable compensation fund that we could verify. We found no live regulator warning against Amana itself and no license cancellation. WikiFX, however, labels one profile a “suspicious clone.” That flag points to impersonator sites, so verify the domain before you log in.
Execution Quality & Trading Costs
Amana’s pricing meets industry benchmarks only on its high-deposit accounts. Its execution speed cannot be benchmarked, because it publishes no audited data.
As of the date of this review, we found no independent test reporting average execution speed in milliseconds or a documented slippage percentage. We therefore refuse to invent a figure. Reviewer feedback is mixed. Trustpilot users praised order speed, while ForexPeaceArmy users cited slippage and closed pending orders. A Traders Union tester saw EURUSD spreads near 0.3 pips, widening to 0.6 pips during news. That result conflicts with the 1.40 pip average FxScouts records for the entry account, so treat both with caution.
The entry-level Classic account uses variable spreads with no commission. It behaves like a market-maker model, and FxScouts calls its spreads wider than other market makers. The Active and Elite accounts price much tighter. Amana does not disclose their routing model, so we cannot confirm ECN or STP status.
| Account | Minimum Deposit | EURUSD Spread | Commission | All-In Cost per Lot | Peer Benchmark |
|---|---|---|---|---|---|
| Classic | $50 | 1.40 pips | None | About $14 | About $9 at other good brokers |
| Active | $25,000 | From 0.1 pips | $3 per lot | About $4 | About $9 at other good brokers |
| Elite | $250,000 | From 0.1 pips | Negotiable | Varies | Not comparable |
Amana fees outside trading deserve attention. Bank transfers cost nothing. Neteller withdrawals carry a 2% fee capped at $30, and Skrill withdrawals cost 1%. Card deposits cost 1.5% in FxScouts data, although AZStockBrokers reports no deposit fees. Confirm current terms before funding. Bank withdrawals take three to four days, slower than the industry norm of same-day to 24-hour card and e-wallet payouts. Clearing fees of 10 to 20 basis points apply to Middle East shares. We found no account maintenance or inactivity charge in public sources, but Amana may apply fees to swap-free positions held beyond 10 days.
Trader Reputation & Market Presence
Public sentiment toward Amana is positive but thin, and its track record spans about 15 years without a headline enforcement scandal in the sources we reviewed.
Under our four-factor methodology, we reviewed regulatory registers, independent review platforms and trader feedback to test user claims against enforcement records.
That sample is too small to serve as a reliable baseline. ForexPeaceArmy shows 2.27 out of 5 across 12 reviews, below the scale midpoint of 2.5. Its newest entry dates to April 2021. FxScouts rates the broker 3.93 out of 5 overall.
Positive themes recur. Reviewers cite order speed, reliability and a broad instrument list, including 66 forex pairs and Middle East equities. Grievances also recur. Users report slippage, closed pending orders and unresponsive support. FxScouts testers found live chat broken and received no reply to several emails or the call-back request. Traders Union, by contrast, praised the broker after three months of use. We found no pattern of payout blocks or sudden account suspensions in the sources reviewed. Public complaint volume is low, which limits the evidence in both directions.
Strengths & Weaknesses
Amana combines credible licensing with uneven service and pricing. The lists below separate what holds up from what does not.
Amana Review: Strengths That Hold Up
- Tier 1 licensing: FCA and CySEC oversight, versus offshore-only licensing at many peers
- Amana safe fund handling: Segregated client accounts, as required by FCA and CySEC rules
- Low high-tier costs: About $4 per lot on Active, against about $9 at peers
- Asset breadth: 66 forex pairs and 322 share CFDs on MT4 and MT5
- Islamic accounts: Swap-free option for eligible clients
Amana Review: Weaknesses to Weigh
- Costly entry account: About $14 per lot on Classic, against about $9 at peers
- Amana fees on withdrawals: Neteller at 2% and Skrill at 1%, while bank payouts cost nothing
- Slow bank payouts: Three to four days, against 24 hours or less at faster peers
- Entity-dependent protection: Labuan and Lebanon clients lose UK and EU safeguards
- Weak support tests: Unanswered email and call-back during FxScouts testing
- No published execution data: No millisecond or slippage figures as of this review
Overall Verdict
Amana earns the Silver Standard with a composite score of 66.9 out of 100. It is a legitimate, licensed broker whose safety depends on your contracting entity.
Per the framework rule for multi-entity brokers, we report one rating: the highest entity-level score. The UK entity under FCA oversight scores highest, so it sets the composite. Entities in Labuan, Mauritius and Lebanon would score lower.
Amana suits experienced retail traders who want Tier 1 oversight, Middle East share access and tight Active-account pricing. It also fits Islamic account holders. Beginners on the $50 Classic account face costs above peers and should compare alternatives. Amana competes with mid-sized multi-regulated brokers such as Tickmill and AvaTrade, and it trails leaders with published execution audits.
Frequently Asked Questions (FAQ)
Yes. Amana is a licensed broker with FCA and CySEC oversight, among other regulators. Confirm which entity opens your account, because protections vary.
Yes, by the FCA (FRN 605070), CySEC (155/11), the DFSA (F003269), the LFSA (MB/18/0025), the Mauritius FSC (C118023192) and Lebanon’s CMA (26). Each covers a different group entity.
Amana is reasonably safe under its UK and Cyprus entities, which segregate funds and offer negative balance protection. Beginners face a costly entry account at about $14 per lot. Support responsiveness also drew criticism in testing.
The Classic account charges no commission and averages a 1.40 pip EURUSD spread. Active adds $3 per lot with spreads from 0.1 pips. Neteller and Skrill withdrawals cost 2% and 1%.
Yes. Amana Capital rebranded to Amana in 2022 and launched the Amana app. The group’s regulated entities still carry Amana Capital names in some registers.
FxScouts lists $50 for the Classic account. AZStockBrokers lists $10 for the Amana app. Active requires $25,000 and Elite requires $250,000.
Expert Review Notes (Staff Insight)
Our audit team noted several operational nuances that raw statistics miss. First, entity layering matters more here than the headline license list. Marketing emphasizes FCA and CySEC, yet app-onboarded clients reportedly land under AFS Global in Labuan. That gap between advertised and applied protection is the central risk.
Second, the brand transition left inconsistent naming. Registers show Amana Capital Ltd, while the front end says Amana. Third-party sites still list amanacapital.com alongside amana.app. Traders should verify domains against regulator registers.
Third, founding data conflicts. Sources cite 2010 for the company and 2011 for the CySEC authorization. The latest leadership announcement we located named Muhammad Rasoul as CEO in September 2021, and we could not confirm a later change.
Fourth, account routing lacks disclosure. Classic pricing implies a market-maker model, while Active pricing suggests a different flow. Amana publishes no order-routing statement we could verify. Support tests were also uneven, and this drove our staff score below the midpoint of the mid-range band.
Composite Score Calculation
| Dimension | Weight | Raw Score (out of 100) | Weighted Points | Score |
|---|---|---|---|---|
| Regulation & Safety | 35% | 80 | 28.0 | |
| Execution Quality | 30% | 58 | 17.4 | |
| Trader Reputation & Market Presence | 25% | 62 | 15.5 | |
| Expert Review Notes (Staff Insight) | 10% | 60 | 6.0 | |
| Composite Total | 100% | Not applicable | 66.9 |
