The ForexBrokers.com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.
Trading forex (currencies) in Saudi Arabia is popular among residents. While recommended, forex brokers are not required to become authorised by the Capital Market Authority (CMA) to accept residents of Saudi Arabia as customers.
The Capital Market Authority is the financial regulatory body in Saudi Arabia. Website: https://cma.org.sa. We recommend Saudi Arabia residents also follow the CMA on Twitter, https://twitter.com/SAUDICMA.
The CMA, which was formed in 2003, regulates and develops the Saudi Arabian Capital Market. For a historical breakdown, here's a link to the Capital Market Authority webpage on Wikipedia.CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Saudi Arabia
To find the best forex brokers in Saudi Arabia, we created a list of all brokers that list Saudi Arabia as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Saudi Arabia.
- IG - Best overall broker 2021, most trusted
- Interactive Brokers - Great for professionals and institutions
- XTB - Best customer service, great trading platform
- FOREX.com - Great all-round offering
- eToro - Best copy trading platform
- AvaTrade - Multiple trading platform options
- XM Group - Well-rounded offering
Saudi Arabia Forex Brokers Comparison
Compare Saudi Arabia authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
|Forex Broker||Accepts SA Residents||Average Spread EUR/USD - Standard||Minimum Deposit||Overall||Visit Site|
|FP Markets||Yes||1.140||$100 AUD||N/A|
How to Verify CMA Authorisation
During our research we were unable to locate a forex broker directory on the CMA website. If you find such a directory, please email us.
However, we did find a PDF of 73 suspected entities conducting investment activities without permission of the CMA.
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For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three-month time period resulting in over 50,000 words of published research.
Each broker was graded on 108 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure (read about Trust Score here).
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.