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Best Forex Brokers Saudi Arabia

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Since the forex market has only recently opened up in Saudi Arabia, the strength of the regulatory environment is not as strong as in North America, Asia, Europe, and other parts of the world. So, if you are based in Saudi Arabia and thinking about opening a forex trading account, you’re in the right place.  

Here at Business24-7.ae, we take pride in being the leading broker comparison site in the Middle East and South Asia. We carry out regular analyses of the forex brokers in these regions and have become the leading resource for broker evaluations as a result. Learn more about our testing methodology.

Capital Market Authority

Governed by a board comprising five full-time commissioners, the Capital Market Authority (CMA) was established in 2003 and is responsible for the development and regulation of the Saudi capital markets. To learn more about the Capital Market Authority in Saudi Arabia, check their website.

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In order to help forex traders in Saudi Arabia choose the right broker for them, we decided to go the extra mile and go into as much detail as possible over our choices. Our extensive global catalogue of broker assessments served as the foundation for our more detailed Saudi review. To ensure that our data was as up to date as possible, we repeated our analysis immediately before publishing these results. This involved weeks of checks and comparisons between each broker that accepts Saudi investors.

So, without further ado, here is our list of the top forex brokers available to Saudi Arabia residents:

  • Saxo Bank – Best VIP client experience
  • Swissquote – Best banking services
  • eToro – Best overall offer
  • Interactive Brokers – Best for professionals
  • FxPro – 4.0 Stars
  • XM Group – 4.0 Stars
  • XTB – 3.5 Stars
  • Pepperstone – 3.5 Stars

Saxo Bank - Best VIP client experience

If you are a trader that can afford a minimum deposit of USD 10,000 (or GBP 500 for the UK), an excellent forex broker for you is Saxo Bank. Saxo Bank stands out since it provides a unique trading platform, competitive prices, professional research, more than 40,000 trading instruments, and outstanding customer service.

In our review we also liked the incredible pricing on the platform and the exclusive SaxoTraderGO flagship platform. You will get everything you need to perform well in the market.


Swissquote - Best Banking Service

Swissquote is a trustworthy and well-regulated online broker, operating with two units. Its Swiss unit offers, among others, stock, features, funds and options while the London-based unit is specialized in Forex and CFDs trading.

From the results in our review, we would recommend this platform to users looking for fast deposit and withdrawal + great research tools.


eToro - Best Overall Offer

eToro is an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.

In our review eToro has been awarded as the best social trading platform - social trading means you can follow other traders and copy their investment strategies.

AFSL 491139. High risk to capital.


Interactive Brokers - Best For Professionals

In our 2020 review, Interactive Brokers has ranked second overall because of its vast array of tools for advanced investors that track global investing trends.

The firm can connect to any global electronic exchange, which means trading futures, equities, and options around the world is easy and straightforward, whether from your mobile device or your desktop.

Even though Interactive Brokers is an excellent advisory, new investors may find its extensive capabilities to be overwhelming and distracting, and we recommend that they start trading somewhere else.



Founded in 2006, FXPro operates in the United Kingdom and is in the spread betting and CFD market. In 2017, Global Brands Magazine voted FXPro as the most trusted Forex brand in the UK.

FXPro has more than 870,000 clients in 173 countries. The DFSA, FSCA, SBC, FCA, and the CySEC all participate in the regulation of FXPro.

  • Easy-to-understand pricing
  • News in Realtime
  • Large product offering

XM Trade

XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world.

With over 1.5 million clients in 196 countries, the XM forex global company focuses on three core principles:

Be big, Be fair, Be human.


XTB Trading

XTB is primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.

We would recommend this platform to users looking for fast deposit and withdrawal + great research tools.



Since opening its doors in 2010, Pepperstone Group has become one of the best brokerages in the Australian financial industry. They have built a full-featured trading portal with highly competitive benefits that focuses on indexes, Forex, and commodity instruments.

A wide variety of web-based, desktop, and mobile trading platforms accessible by multiple account types is attractive to novice traders.

Emerging Regulations For Trading Forex In Saudi Arabia

With over SR38 billion (approx. $10 billion) in funds lost by Saudi residents over the last 5 years, the CMA, the Ministry of Commerce, and the Saudi Arabian Monetary Authority (SAMA) are stepping up attempts to restrict unlicensed brokers with the threat of fines and legal action. As a result, the Middle East continues to emerge as a financial hub, creating the impetus required for Saudi Arabia to start developing its forex regulatory framework.

For example, on 25 April 2019, the CMA issued the country’s first ever forex broker license. To date, Riyad Capital is still the only domestic forex broker regulated by the CMA. It remains unclear how Saudi Arabia’s internal regulatory landscape will look in the future, but happily most regulated FX brokers from abroad will accept Saudi residents. Only those with local offices fall under the CMA’s oversight, so be sure to check them out fully by contacting the CMA and following all their news on social media.

Our researchers recommend following the CMA’s social media channels:

Website: https://cma.org.sa/en/Pages/default.aspx

Which Forex Broker Is Best for Saudi Arabia Residents?

If you would like to dive deeper, consider using our forex broker tool to see the full state of the Saudi market in more detail. You’ll see that our brokers are ranked in line with our revised methodology, which has been refined over years of rigorous research from our team of analysts.

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Our Methodology

We took the time to analyze and compare the top 30 international trading platforms in 2020. So, each firm received its review based on 105 distinct variables and more than 50,000 words of research.

Keep in mind that broker involvement was optional. Each broker had the option to provide a detailed profile and offer adequate time for a yearly update meeting. This opportunity came with two possibilities: giving information over the web or live in person.

We checked all the information provided by brokers with a lot of attention to details. Our purpose was to offer you access to reliable, accurate, and well-researched data. Our validation process comes with less than a 1% error rate per year, as all the reviews we share come with a focus on quality and not quantity.

Our Mission

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.


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