amana rolls out zero-fee trading in MENA, breaking down barriers

abdelaziz Fathi

UAE-based FX and CFDs broker amana is changing the game in the Middle East with a bold new pricing plan: commission-free trading on MENA stock trades.

amana

This move, a first in the Middle East and North Africa, aims to make investing in the region’s stock markets way more accessible and affordable.

Per the company’s statement, this move isn’t just about cutting costs; it’s about inviting everyone to the financial table, no matter the size of their wallet.

Taking cues from the success of no-fee giants like Robinhood in the US and UK, amana is the latest company to join the race to the bottom. The idea is simple: cut down the costs and get more people into the stock market game. Considering the MENA region’s over 1,000 listed companies and a whopping $4 trillion capitalization, yet only 5% of its population dipping their toes in stock investments. amana sees a massive opportunity for growth.

amana’s CEO Muhammad Rasoul is all in on this initiative, believing it opens up the MENA stock markets to a wider audience, including the little guy. He’s convinced that everyone should have a shot at riding the region’s growth wave, not just the big players.

“This move exemplifies amana’s core values. As a locally built broker, our mission extends beyond being a part of this emerging region’s growth; it’s about ensuring that as many people as possible can share in the economic potential of this once-in-a-generation regional transformation,” Rasoul added.

amana isn’t stopping at just MENA stocks as the broker extends its zero-fee approach across the board, including US stocks, indices, commodities, and even crypto, making them the first in the region to offer such a diverse portfolio from one account.

The zero commissions, understandably, have driven massive increases in trading volumes and helped incumbent brokers capitalize on a new class of retail investors. But, despite an influx of dummies and a dramatic spike in trading volume, some analysts expected the trend will ultimately prove painful, and the revenue give-up will not be easy in the long term.

Nevertheless, the trading revenue did not take the hit so far as a drop in commissions was offset by record volumes as retail investors increased their trading activity thanks partly to $0 commissions.

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