Middle East trading app includes commodities

A company called amana says it is preparing to launch its trading app designed to offer to users of all scales “access to local and global financial markets.” Amana, based in Dubai, United Arab Emirates, says the app will provide commission-free access to assets including commodities, exchange-traded funds (ETFs), stocks, currencies and other financial products in the Middle East North Africa (MENA) region.

Amana currently shows gold, silver and crude oil as among the commodities that will be tradeable via its app.

“Providing ‘access to all’ regardless of experience level or social status is at the core of amana,” amana CEO Muhammad Rasoul says. “As the financial sector transforms to a mobile-first digital experience, our highly anticipated app will help create equality of opportunities, for women and younger generations in particular, and a means for everyone to participate in the regional and global financial markets by removing barriers and enabling a seamless trading experience.”

Amana and Rasoul say they see a ready market for the service “amid a broader surge in trading by the emerging Generation Z—a young, tech-savvy customer base.”

“With a growing younger demography entering the world of trading and investment, making informed decisions is crucial. We understand this and it is our endeavor to provide users the required know-how through integrated educational tools to help them navigate and make better investment decisions,” Rasoul says.

Amana says it will require no minimum balance and will offer fractional trading. “This provides MENA customers access to thousands of products, regardless of their budgets, to get them started on their investment journey,” the company says.