The best trading platforms in Saudi Arabia are: IQ Option, AVA Trade, XM, Saxo Bank, Pepperstone and Interactive Brokers. Our review used professional research and testing strategies. Traders prefer Interactive Brokers over IQ Option. Others use beginner-friendly platforms by AVATrade.
This article will discuss the leading brokers and platforms for Saudi Arabian citizens.
Best Trading Platform In Saudi Arabia
- IQ Option is the best Saudi Arabia broker for options trading
- AVAtrade is the top beginner-friendly trading platform
- XM has the best overall trading platform for forex trading
- Saxo Bank has the best comprehensive offer for Saudi Arabian citizens
- Pepperstone is the best Australian trading platform with the lowest trading fees
- Interactive Brokers – broker with the most differentiate trading platforms
Best Online Brokers Saudi Arabia
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||IQ Option||Best overall offer||4.9/5||Options, stocks, forex and crypto||Official website|
|#2||AVAtrade||Best web trading platform||4.9/5||Straightforward Trading Platform||Official website|
|#3||XM||Best for forex trading||4.9/5||Forex trading||Official website|
|#4||Saxo Bank||Best for premium traders||4.8/5||Different assets||Official website|
|#5||Pepperstone||Lowest trading fees||4.8/5||Low fees||Official website|
TOP 5 Trading Platforms In Overview:
01. IQ Option: The Best Saudi Arabia Broker For Binary Options
IQ Option is the best online broker for options trading, known for low spreads, a sophisticated trading platform, free demo account options, and responsive customer support. It is a great platform for traders looking to invest in options on a feature-rich and easy-to-use platform.
The trading experience on their proprietary web, desktop, and mobile platforms is smooth. It is an easy to learn and navigate platform suitable for professional and beginning traders. Their platform offers a great variety of charting tools that help traders predict future market movements.
IQ Option is a trustworthy online broker subject to the highest standards of regulation and safety in the industry. It is a CySEC authorized company with a 100% clean history.
02. AVA Trade: The Leading Web Trading Platform In Saudi Arabia
Founded in Dublin in 2006, AvaTrade offers average-to-competitive fee spreads and several tradable currency pairs and CFD’s over stocks. They provide several platforms, each aimed towards traders with different experience and skill levels.
Deposits and withdrawals are free of charge. The minimum deposit is $100. There are fees for inactivity and overnight financing. A dedicated educational and research site offers several free courses, videos, and market analysis. Customer support is responsive and available through phone, email, and live chat. AvaTrade is regulated in six jurisdictions and available since 2021 in the UAE. They are regarded as a trusted broker with a long operational history.
03. XM Trade: The Best Overall Trading Platform For UAE Citizens
XM.com is the best broker for forex and CFD trading. They offer the best Social Copy Trading opportunities through their full suite of MT4 and MT5 web, desktop, and mobile platforms. XM Forex tools and accounts are suitable for both beginning and experienced traders. They have more than 1.5 million clients in 196 countries.
Their minimum opening fees range from $5 to $100 based on account type. XM Forex supports clients wanting to sample their platform with a Demo account. They provide auto-trading, fast order executions, multiple order types, and no hidden commissions. Their research group Tradepedia offers courses aimed at all levels. XM Forex customer service group is highly rated with e-mail, phone, and live chat 24/5. XM Forex Global Web-trade is regulated by CySEC, ASIC, IFSC and is considered a safe broker for trading forex and CFDs.
04. Saxo Bank: The Most Tradable Assets For Saudi Arabian Clients
Founded in 1992, Saxo Bank is a low risk, well-regulated bank by the FCA (UK), FINMA (Switzerland), ASIC, FSC (Australia), and JFSA (Japan). They are an excellent forex and CFD broker known for their intuitive SaxoTraderGO platform, competitive pricing, and more than 40,000 trading instruments. The overall user experience is great. The opening deposit is USD 10,000 ( GBP 500 for the UK, SGD 500 for Singapore).
Saxo Bank provides a unique platform and competitive pricing. They combine high-quality in-house research with top-tier third-party providers to offer an outstanding research experience. Their customer service is outstanding. UAE citizens are offered the ability to trade in compliance with Sharia law using an Islamic account. Support is available in the Arabic language by email or directly in the local offices.
05. Pepperstone: The Lowest Trading Fees For UAE Citizens
Based in Melbourne, Pepperstone is a reliable Forex and CFD broker, known for its diversity of trading platforms, industry-leading pricing, fast account opening, and great support. Pepperstone users can trade many assets including forex, CFDs, cryptocurrencies, indexes, shares, and commodities. This broker is excellent for traders at all levels, from beginners to advanced.
Pepperstone offers MetaTrader and cTrader with multiple self-developed add-ons. They do not have a proprietary mobile platform, instead use MT4 and cTrader mobile apps. It has a low minimum deposit, great customer support, and an above-average research section, and an award-winning set
IQ Option, AVA Trade, XM, Saxo Bank, and Pepperstone are the best brokers in Saudi Arabia. All traders benefit from using the services of the mentioned brokers.
It is best to check our reviews for each before choosing a provider. UAE citizens can access impressive trading platforms and tools.
We use real accounts and transactions for an accurate assessment. Our reviews depend on 100 criteria+. You can learn about our system in our methodology.
How We Identify A Reliable Platform?
We identified the top six trading platforms in Saudi Arabia. We used the following aspects in our reviews for a thorough analysis.
Safety Risks For Saudi Arabian Citizens
Not all brokers have a transparent policy. A reliable broker for UAE citizens has top-tier authorizations. Professional brokers have a banking history or a notable presence on an exchange. It would be best if you didn’t ignore that trading comes with risks.
What Is The Financial Regulatory Authority In Saudi Arabia?
The Capital Market Authority is the financial regulatory body in Saudi Arabia. You can learn about their practices at https://cma.org.sa/. They post regular updates on their Twitter account: https://twitter.com/SAUDICMA.
The CMA appeared in 2003. It manages the Saudi Arabian Capital Market. You can learn about it on Wikipedia. Saudi Arabia brokers aren’t obliged to request authorization from the Capital Market Authority. But if a broker has a CMA regulation, it adds up to its reputation.
How We Chose The Top International Trading Platforms For Saudi Arabian Residents?
We review trading platforms with 105 criteria. We chose trading platforms for Saudi Arabian citizens with the following criteria:
– Costs: transparent fees are essential for good trading experiences. A US equity trade’s basic price is up to 50 times higher with a broker than another.
– Accounts: Not all Saudi Arabia brokers have a minimum deposit. Some will have you deposit funds for a new account.
– Withdrawal and deposit: with some brokers, depositing funds takes five times longer. It is best to check the broker’s policies for UAE residents.
– Market and products: not all Saudi Arabia brokers have the same product coverage. Learning about their market and products offers insights into the assets you can use.
– Trading platform: a user-friendly trading platform improves your trading experience. It is recommended to choose one that is straightforward and professional.
We took the time to analyze and compare the top 30 international trading platforms. 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 detail. Our purpose was to offer you access to reliable, accurate, and professional 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.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider if you understand them and if you can afford to lose money.
If you liked this article than also read:
- 1 Best Trading Platform In Saudi Arabia
- 2 TOP 5 Trading Platforms In Overview:
- 2.1 01. IQ Option: The Best Saudi Arabia Broker For Binary Options
- 2.2 02. AVA Trade: The Leading Web Trading Platform In Saudi Arabia
- 2.3 03. XM Trade: The Best Overall Trading Platform For UAE Citizens
- 2.4 04. Saxo Bank: The Most Tradable Assets For Saudi Arabian Clients
- 2.5 05. Pepperstone: The Lowest Trading Fees For UAE Citizens
- 2.6 Final Verdict
- 2.7 FAQ
- 2.8 How We Identify A Reliable Platform?
- 2.9 Safety Risks For Saudi Arabian Citizens
- 2.10 What Is The Financial Regulatory Authority In Saudi Arabia?
- 2.11 How We Chose The Top International Trading Platforms For Saudi Arabian Residents?