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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.
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 Trust Score Ranking.
Here is our list of the best forex brokers in Saudi Arabia.
- IG - Best Overall Broker 2020
- Plus500 - Best for beginners overall
- Swissquote - Best banking services
- FOREX.com - Great platforms and pricing
- City Index - Excellent all around offering
- XTB - Best customer service, great platform
- eToro - Best copy trading platform
- Pepperstone - Numerous copy trading platforms
- HYCM (Henyep Markets) - 3.5 Stars
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 Trust Score.
| Forex Broker | Accepts SA Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Visit Site |
|---|---|---|---|---|---|---|
| IG | Yes | 0.700 | £250.00 | 99 | Visit Site | |
| Plus500 | Yes | 0.600 | €100 | 99 | N/A | |
| Swissquote | Yes | N/A | $1000.00 | 99 | N/A | |
| FOREX.com | Yes | 1.00 | $100.00 | 93 | Visit Site | |
| City Index | Yes | 0.800 | £50.00 | 93 | N/A | |
| XTB | Yes | 0.780 | $0.00 | 92 | N/A | |
| eToro | Yes | 3.00 | $200 | 91 | N/A | |
| Pepperstone | Yes | 1.130 | $200.00 | 89 | N/A | |
| HYCM | Yes | N/A | $100 | 84 | N/A | |
| Tickmill | Yes | N/A | $25.00 | 81 | N/A | |
| easyMarkets | Yes | 0.900 | $100.00 | 81 | N/A | |
| XM Group | Yes | 1.600 | $5-100 | 80 | N/A | |
| IC Markets | Yes | 1.100 | $200 | 80 | N/A | |
| ThinkMarkets | Yes | N/A | $250.00 | 79 | N/A | |
| Vantage FX | Yes | 1.400 | $100 | 79 | N/A | |
| ForexTime | Yes | 0.80 | $100 | 70 | N/A | |
| Alpari | Yes | 0.92 | $100.00 | 69 | N/A | |
| Instaforex | Yes | N/A | $1 | 69 | N/A | |
| OctaFX | Yes | 1.000 | $5 | 63 | N/A | |
| FX Choice | Yes | N/A | $100 | 54 | 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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- Compare Forex Brokers
Methodology
For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors 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.
