amana review 2026 for Emiratis & Expats
amana is a Dubai-born trading and investing app built for the MENA region, and one of the few platforms that lets UAE residents trade local and global markets - MENA stocks, US shares, ETFs, crypto, forex, and commodities - from a single app. It is trusted by over 500,000 users across MENA and has operated for more than 15 years.
But does its focus on leverage and CFDs, the lack of Irish-domiciled ETFs, and the fact that UAE app users are regulated out of Labuan (Malaysia) rather than by the DFSA hold it back for long-term, buy-and-hold investors?
In this review we break down amana's products, fees, regulation, safety, and promotions for the UAE market specifically, and compare it with local alternatives so Emiratis and Expats can decide if it is the right fit. This review is dedicated to UAE users - the products and regulatory setup differ in other regions.
Bonus: 🎁 Opening an amana account? Use our promo code "IITW" at sign-up, deposit at least USD 100 (about AED 367) and make one trade to receive a USD 100 trading bonus. Heads-up: the app may default the funding currency to AED, so deposit at least 367 AED or switch the funding currency to USD before depositing.
Video summary
Prefer a quick video walkthrough? Watch our amana app review below.
amana UAE overview
amana launched in 2010 (originally as Amana Capital) and has grown into what it calls MENA's only all-in-one trading platform. It gives investors in the UAE and the wider region a modern, mobile-first way to access both local and global markets with 0% commissions on most assets. The app bundles several services:
- amana Trade: a self-directed account for MENA stocks, US and international shares, ETFs, crypto, and leveraged products (forex, commodities, indices, and CFDs).
- amana Invest: an automated, set-and-forget investing service that builds and runs diversified plans for you, with no management fees.
- amana interest: interest on idle USD cash (see the eligibility caveat in the safety section).
- Cashback: up to 20% back on the spreads you pay when actively trading.
A key point for UAE investors: although amana promotes its UAE presence through a locally licensed entity, clients who open an account through the amana app are legally contracting with AFS Global Ltd, an entity regulated by the Labuan Financial Services Authority (LFSA) in Malaysia, not by the DFSA. We cover what that means for your protection in the safety section below.
The app and customer support are available in both English and Arabic, and local AED funding through UAE banks is fully supported.
Highlights
Short on time? The table below summarises amana's key features and terms for UAE investors.
Pros
- Local and global markets in one app: trade zero-cost MENA stocks alongside US/international shares, ETFs, crypto, forex, and commodities - rare for a UAE-regulated app.
- Genuinely low headline costs: 0% commission on US stocks, ETFs and crypto, free deposits and withdrawals, and no account-opening fees.
- Strong local convenience: AED funding, local bank transfers (e.g. Mashreq, FAB), Apple Pay, UAE instant banking, and Arabic-language app and support.
- Sharia-compliant options: Sharia-compliant asset tagging and Islamic (swap-free) accounts, plus halal-friendly investment plans in amana Invest.
- Automated investing with no management fees: amana Invest lets you build recurring, fractional plans with no management, performance, or exit fees and no lock-in.
- Interest on idle cash: up to 2.75% on uninvested USD (subject to eligibility - see safety section).
- Cashback for active traders: up to 20% back on spreads, applied automatically.
- Pro tools and platforms: MetaTrader 4/5 support, a desktop web platform, fractional shares, 24/5 US trading, and a Smart Money Tracker to follow top traders.
- Signup bonus: USD 100 with promo code "IITW".
Cons
- UAE app users are regulated out of Labuan, not the DFSA: the DFSA has publicly clarified that the amana app is not a DFSA-regulated product and app users are not clients of its DFSA entity.
- No investor compensation scheme for app clients: Labuan's regime has no equivalent of the EU/US/UK compensation schemes, so protections differ from those many investors assume.
- No Irish-domiciled (UCITS) ETFs: UAE investors lose the tax efficiency of Irish UCITS ETFs (lower US dividend withholding and reduced US estate-tax exposure).
- Heavy emphasis on leverage and CFDs: the product mix leans toward leveraged derivatives (now up to 200x), which do not suit conservative, long-term investors.
- No options or bonds, and no position transfers: you cannot move holdings to another broker.
- Interest and some promos exclude third-party-referred clients: the 2.75% interest terms are written for clients not referred by a third party, which can affect readers who sign up via an affiliate code.
Who is amana for?
amana is best suited to UAE investors who:
- Want access to MENA-listed stocks (UAE, Saudi, Qatar, and more) alongside US and global markets in one app.
- Are active or short-term traders who value 0% commissions, cashback, and MetaTrader support.
- Want local AED funding and Arabic-language support, plus Sharia-compliant options.
- Prefer a mobile-first, all-in-one experience for trading, automated investing, and parking cash.
It is a weaker fit for long-term, passive investors who want Irish-domiciled UCITS ETFs, options, bonds, or the protection of a DFSA/EU-style compensation scheme. Those investors may prefer Interactive Brokers or Sarwa.
amana fees and commissions
amana markets itself as commission-free with "70% lower spreads" and no hidden fees. As with any zero-commission broker, most of the cost is embedded in the spread (the gap between buy and sell prices) and, for leveraged positions, in overnight financing (swap) fees. Here is the breakdown that matters for UAE users.
MENA and regional stock fees
Trading on regional exchanges (such as the Dubai Financial Market or Saudi Exchange) is free for your first USD 100,000 invested or your first 50 trades. After that, clearing fees apply on regional stocks and regional stock derivatives - amana describes this as "our cost is your cost".
Spreads and overnight financing
On leveraged and CFD products, amana applies a spread plus an overnight financing (swap) charge for positions held overnight. Islamic (swap-free) accounts are available, though these often carry other adjustments, so review the terms. As a rule, leveraged products and overnight charges work against long-term, passive portfolios.
Deposits, withdrawals and inactivity
Card and bank-transfer deposits and withdrawals are advertised as free (your own bank may still charge you). UAE users can fund in AED via local banks, Apple Pay, UAE instant banking, or crypto. Accounts inactive for over 12 months receive a 30-day notice before a USD 10/month maintenance fee applies; balances under USD 100 are charged until depleted, after which the account is closed.
amana platforms
amana app
The proprietary mobile app (iOS and Android) is the core experience: deposit and withdraw, trade across all asset classes, run automated plans, set alerts, and learn - all in one place. A recent addition, the Smart Money Tracker, lets you follow the trades of amana's top-performing traders in near real time.
amana web
A browser-based platform that mirrors the app on a larger screen, with more room for charting, order execution, and portfolio management - a solid middle ground for users who prefer a desktop without installing software.
MetaTrader 4 & 5
amana offers full MT4 and MT5 access (desktop, web, and mobile) for traders who want the industry-standard environment, selectable when opening a demo or live account.
amana products and markets
amana provides access to more than 5,500 commission-free assets across global and regional markets. Here is what is and is not supported.
UAE tax note: Because amana does not offer Irish-domiciled UCITS ETFs, UAE investors holding US-domiciled stocks and ETFs face a 30% withholding tax on US dividends and potential US estate-tax exposure on US-situs assets above USD 60,000. Many UAE long-term investors prefer Irish UCITS ETFs for this reason.
amana Invest
amana Invest is the automated, hands-off service. You pick a pre-built plan (including Sharia-compliant and thematic options) or build your own with up to 20 assets, set a recurring contribution (one-time, daily, weekly, or monthly), and amana executes it using fractional shares. There are no management, performance, or exit fees, no lock-in, and you can pause or change a plan anytime. The service is unleveraged by design.
amana interest (interest on cash)
amana pays up to 2.75% per year on idle USD cash, calculated and paid monthly with no lock-in. Important: per amana's terms, this is offered to direct retail individual clients holding USD balances and "not referred by any third party". Readers who open an account through an affiliate or referral code may therefore not qualify - confirm in-app before relying on it.
amana cashback
Active traders can earn up to 20% cashback on the spreads they pay across forex, gold and precious metals, indices, commodities, and crypto. It applies automatically (app and MT5 accounts), is paid within five business days after month-end, and is capped at USD 50,000 per month. Trades opened and closed within 60 seconds do not qualify.
Leverage tiers: Core, Plus, Max
In late 2025 amana introduced a three-tier leverage framework - Core, Plus, and Max - offering up to 200x for experienced active traders. amana's CEO has been explicit that high leverage suits experienced traders only and that most short-term traders lose money. UAE investors should treat the higher tiers with caution; they are not a long-term investing tool.
amana bonuses and promotions
Beyond the USD 100 signup bonus, amana runs several rolling promotions for app users. All are subject to amana's own terms, so check the current rules before relying on any of them.
- Signup bonus: open an account with code "IITW", deposit at least USD 100 and place one trade to receive a USD 100 trading bonus (keep the deposit for 30 days).
- Free weekly webinars: free live market sessions every Tuesday and Thursday with amana's senior markets analyst; complete a session and you can receive a USD 50 trading credit, with one-to-one coaching for selected active traders.
- USD 1,000 weekly draw: keep at least USD 1,000 in your account and make one trade during the week to enter; one winner is drawn each week and receives USD 1,000 in withdrawable cash.
- World Cup prediction (time-limited): predict the FIFA World Cup winner in the app by 5 July 2026, top up to at least USD 1,000 and trade during the 11 June - 19 July 2026 window; correct predictions share a USD 1,000,000 pool of (non-withdrawable) trading-bonus credits, capped at USD 100,000 per person.
- Summer of iPhones: a weekly prize draw for the chance to win an iPhone through the summer.
Is amana safe?
amana operates as a multi-jurisdictional group, but what matters is the entity your account sits under. For UAE app users, that is AFS Global Ltd in Labuan, Malaysia.
AFS Global Ltd (Labuan, Malaysia): the default contracting entity for amana app accounts, regulated by the LFSA under Money Broking Licence MB/18/0025. Client funds are held in segregated accounts. However, Labuan's regime does not include an investor compensation scheme.
DFSA (Dubai): Amana Financial Services (Dubai) Ltd holds DFSA Licence F003269, but the DFSA has issued a public clarification that the amana app is not a DFSA-regulated product and that app users are not clients of the DFSA entity. Do not assume DFSA protection applies to your app account.
CMA UAE: Amana Mena Promotional Services LLC (Licence 20200000255) is authorised by the UAE Capital Market Authority for promotion and introduction only, not client servicing.
As with most UAE trading apps, there is no SIPC- or FSCS-style investor compensation scheme. Treat amana as a well-established regional broker with segregated client funds, while being clear-eyed that your legal counterparty is a Labuan entity.
Want more on UAE regulation and protection? See our guide: Regulatory authorities and investor protection schemes in the UAE. You can also check our Broker warning list.
amana vs alternatives
If amana is not the right fit, here are the main UAE alternatives:
- Sarwa: a UAE robo-advisor plus US stock/ETF/options trading, crypto, and a high-yield cash account - better for hands-off, long-term investors who want local regulation (ADGM).
- Interactive Brokers: a global broker with the widest market access and ultra-low fees - the stronger choice for serious, long-term investors who want Irish UCITS ETFs and bonds.
- eToro: a multi-asset broker known for copy trading and commission-free US stocks, though withdrawal and FX fees apply.
For side-by-side comparisons, see our best trading apps in the UAE guide.
Is amana worth it?
amana is one of the most capable home-grown trading apps in the UAE: zero-cost MENA stocks, US and global markets, crypto, cashback, automated investing, and Arabic-language local support in a single, polished app. For active and short-term traders who want regional plus global access with low headline costs, it is a genuinely strong option.
The trade-offs are real, though. UAE app users are regulated out of Labuan rather than by the DFSA, there is no investor compensation scheme, the product set leans heavily on leverage and CFDs, and the absence of Irish UCITS ETFs makes it less suitable for tax-aware, long-term, buy-and-hold investors, who may be better served by Interactive Brokers or Sarwa.
Our view: amana is worth it as a fast, low-cost way to trade UAE and global markets from one app - especially for active traders and those who value local funding and Sharia-compliant options. Long-term passive investors should weigh the regulatory setup and the lack of UCITS ETFs before committing.
Happy investing, and feel free to reach out to us in case you have any questions or feedback!
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