The forex market, estimated to turnover $4 trillion per day, has seen increasing technological changes in 2017. Foreign exchange has a massive impact on the global economy, and there has been an increase in the number of forex traders in the past year.
Speaking about new developments in forex, Ahmad El-Khatib, CEO of London-based Amana Capital said “Markets are becoming more complex and competition has increased. At the same time, new technologies have come into the market, and consumer behavior is changing.”
Last month, responding to market changes and client requests, Amana Capital introduced three new trading account types. These accounts were created to respond to the different needs of traders of various experiences.
El-Khatib says his company is driven by their strategic mission to expand by delivering greater value to their clients. he said, “As Amana Capital expands, we always want to ensure we take the lead and stay ahead of the curve. These new services deliver more value to our clients, through a unique next-generation trading experience.”
Amana allows traders to open a demo trading account to learn how the company’s accounts work, and in the case of novice traders, how the markets work.
At the same time, Amana Capital announced the addition of MetaTrader 5 (MT5) to its suite of trading platforms. MetaTrader 5 is the latest version of the popular FX trading platform, MetaTrader 4.
The new accounts, structured for traders of different experience levels, are “Amana Mini,” “Amana Basic,” and “Amana Elite.”
The “Amana Mini” trading account is designed for novice traders. For moderate traders, there is the “Amana Basic” trading account, and for professional traders, “Amana Elite.” These three accounts were specifically designed to allow Amana clients at each level to experience better trading conditions. El-Khatib says some accounts will trade with spreads as low as 0.4 pips, and new accounts can be denominated in USD, EUR, and GBP.
Amana also added new payment methods to facilitate the account funding process for clients in Europe and Asia.
These account funding enhancements help the company’s expansion into Asia and Europe. They come just three months after the company launched its new global education and research portal, TradeCaptain.com. TradeCaptain.com is part of the plan to expand the group’s presence and global brand.