Amana Sells UK Arm to 11:FS

MENA-focused CFDs broker Amana, operated by Dubai fintech holding company 180 Capital, has sold its UK subsidiary Amana Financial Services UK Limited to 11:FS Holdings. The deal was exclusively reported by FNG. 11:FS Holdings is a partnership between 11:FS Group CEO David Brear and Blackshield Capital founder Max Koretskiy.

The acquired entity is being renamed Kinsworth Investments Ltd. While it has historically offered CFD products, the new ownership plans to broaden its product suite to include cash equities and fixed income instruments, aiming to build a multi-asset brokerage under the FCA license.

Amana’s decision to divest the UK unit stems from its strategic focus on the Middle East and North Africa region. The company already operates a Cyprus-based entity that can serve future European Union expansion, making the UK license redundant. The sale helps Amana consolidate resources and administrative efforts in Dubai, where it is led by CEO Muhammad Rasoul.

Kinsworth Investments has moved quickly to build its management team with several experienced FX and CFD industry executives:

• Richard Craddock has been appointed CEO. He previously served as CEO of ATFX UK and spent over a decade as Chief Trader at MF Global, later working as COO at Fixi plc.
• Andy Cottrill joins as COO. His most recent role was COO and Executive Director at institutional broker XPrime Markets, with prior stints at Taurex, Finalto, One Financial Markets, and CMC Markets.
• Jamie Campbell takes on the role of Executive Director. Campbell previously founded UK rental property fintech Fronted (shut down in 2023) and joined 11:FS as Head of VC in 2024.