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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 broker 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, Most Trusted
- Saxo Bank - Best Web Platform, Research
- FOREX.com - Great All-around, Low Costs
- City Index - Well-rounded Offering
- XTB - Great Customer Service, Easy to Use Platform
- Swissquote - Best Banking Services
Saudi Arabia Forex Brokers Comparison
| Forex Broker | Accepts SA Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Open Account |
|---|---|---|---|---|---|---|
| IG | Yes | 0.750 | £250.00 | 99 | Visit Site | |
| Swissquote | Yes | N/A | €500.00 | 99 | N/A | |
| Saxo Bank | Yes | 0.900 | $2,000.00 | 98 | N/A | |
| FOREX.com | Yes | 0.770 | $250.00 | 91 | Open Account | |
| City Index | Yes | 0.770 | £100.00 | 91 | N/A | |
| XTB | Yes | 0.900 | $250.00 | 90 | N/A | |
| Markets.com | Yes | 1.900 | $100 | 90 | N/A | |
| eToro | Yes | 3.00 | $200 | 88 | N/A | |
| easyMarkets | Yes | 1.800 | $100.00 | 81 | N/A | |
| Pepperstone | Yes | 1.160 | $200.00 | 79 | N/A | |
| LCG | Yes | 1.450 | $0.00 | 79 | N/A | |
| XM Group | Yes | 1.600 | $5-100 | 78 | N/A | |
| ThinkMarkets | Yes | N/A | $250.00 | 77 | N/A | |
| Vantage FX | Yes | 1.400 | $100 | 74 | N/A | |
| IC Markets | Yes | 1.100 | $200 | 72 | N/A | |
| Alpari | Yes | 0.92 | $100.00 | 69 | N/A | |
| ForexTime | Yes | 0.80 | $100 | 69 | N/A | |
| iTrader | Yes | 0.700 | $250 | 68 | N/A | |
| Instaforex | Yes | N/A | $1 | 66 | 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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