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Best Forex Brokers Saudi Arabia for 2021

Steven Hatzakis

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.

Capital Market Authority

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 2021, most trusted
  • Interactive Brokers - Great for professionals and institutions
  • City Index - Excellent all-round offering
  • XTB - Best customer service, great trading platform
  • FOREX.com - Great all-round offering
  • eToro - Best copy trading platform
  • AvaTrade - Multiple trading platform options

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 BrokerAccepts SA ResidentsAverage Spread EUR/USD - StandardMinimum Initial DepositTrust ScoreOverallVisit Site
OctaFXYes1.100$559 3.5 Stars N/A
BlackBull MarketsYes0.76$20070 3.5 Stars N/A
Vantage FX Yes1.350$20079 3.5 Stars N/A
Moneta MarketsYes1.300$200.0079 3.5 Stars N/A
VT MarketsYes1.30$20079 3.5 Stars N/A
easyMarketsYes0.900$100.0081 3.5 Stars N/A
FP MarketsYes1.140$100 AUD81 4 Stars N/A
TickmillYes0.530$100.0081 4 Stars N/A
HotForexYes1.20$5083 4 Stars N/A
HYCM Yes2.00$10084 3.5 Stars N/A
XM GroupYes1.600$5-10084 4 Stars N/A
IC MarketsYes0.800$20085 4 Stars N/A
FxProYes1.510$100.0089 4 Stars N/A
XTBYes0.860$0.0092 4.5 Stars N/A
City IndexYes1.100 £50.0093 4.5 Stars N/A
AvaTradeYes0.910$100.0093 4 Stars N/A
eToroYes1.00$50093 4 Stars Visit Site
FOREX.comYes1.400$100.0093 4.5 Stars Visit Site
Interactive BrokersYesN/A$094 4.5 Stars N/A
Plus500Yes0.600€10098 4 Stars N/A
IGYes0.745£250.0099 5 Stars Visit Site

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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Methodology

For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 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.

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Steven Hatzakis

About the author: Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.


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