Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

Compare Brokers in Saudi Arabia

For our saudi arabia comparison, we found 19 brokers that are suitable and accept traders from United States of America.

We found 19 broker accounts (out of 147) that are suitable for Saudi Arabia.

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Forex.com

Spreads From

EURUSD 1.0 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Forex.com

  • Regulated by: Financial Conduct Authority.
  • Established in 1999 HQ in United States.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

70% of retail investor accounts lose money when trading CFDs with this provider

Read our in-depth Forex.com review

ThinkMarkets

Spreads From

EURUSD 0.1 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ThinkMarkets

  • Regulated by: Financial Conduct Authority and ASIC.
  • Established in 2010 HQ in Australia.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

Losses can exceed deposits

Read our in-depth ThinkMarkets review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

The Saudi Arabian Financial Market

The primary stock market in Saudi Arabia is the Saudi Stock Exchange or Tadawul that is based in Riyadh, Saudi Arabia and is the largest capital market in the Middle East. The primary stock index for the Saudi Stock Exchange is the Tadawul All Share Index (TASI), which is a broad capitalisation weighted market index that includes all stocks listed on the exchange.

With a market capitalisation $541.3 billion, the Saudi Stock Exchange provides listing services for stocks, mutual funds, real estate investment trusts (REITs) and exchange traded funds (ETFs). In addition, trading services for bonds and Islamic products such as sukuk, which are financial certificates similar to bonds designed to comply with Sharia law, are also available.

The Saudi riyal (SAR), is the Saudi national currency that is issued and managed by the Saudi Arabian Monetary Authority (SAMA) on behalf of the Kingdom of Saudi Arabia. The riyal is made up of 100 smaller denominations known as halalas, and it has been pegged verus the U.S. dollar at a rate of 3.75 riyals per dollar since 1986, and it typically shows only minor fluctuations around that rate.

The primary Saudi financial sector regulator overseeing Tadawul is the Capital Market Authority of Saudi Arabia (CMA), which holds the government’s authority for regulating the capital markets in Saudi Arabia. However, when it comes to financial regulation for the banking, insurance and financial sector, which includes online contract for difference (CFD) and forex brokers, that responsibility belongs to the Saudi Arabia Monetary Authority (SAMA) that acts as the central bank for Saudi Arabia.

How to Trade in Saudi Arabia

While there are not many forex brokers based in Saudi Arabia, many reputable online forex brokers are situated outside the country that will onboard Saudi-based clients. When seeking an online broker to trade in derivative trading such as contracts for a difference (CFD)s or forex, it may also be important to find one that will accept deposits in Saudi riyals. Furthermore, having a broker regulated by the SAMA will typically be preferable due to their need to maintain a local reputation with the Saudi central bank.

However, if a foreign broker seems to make the most sense, it is important to ensure that the broker be competently regulated in a strict jurisdiction and enjoy a good reputation with clients. They should also keep client funds separate from their own funds, ensuring the money to make sure margin deposits stay safe from the broker’s creditors. They should also offer a satisfactory set of services and decent range of tradable assets.   

Another aspect to consider is that most large online brokers will provide a demo account with virtual money that traders can use to practice with while testing their strategies and the broker’s services. Brokers cam also offer funded accounts where traders generally must make a minimum deposit so they to trade live. Note that brokers who cater to Saudi clients should also provide Islamic accounts that are Sharia law compliant and have no swaps on rollovers.

Moreover, Saudi based traders may also want to have the broker’s website and customer service provided to them in Arabic. It would be recommended to verify with the broker if this is a requirement they are able to cater for, or if English communications and language websites will suffice.

Regarding stock trading, the Saudi Stock Exchange has used the X-Stream INET trading system from NASDAQ for trading since 2015. Trades in securities listed on the Saudi Stock Exchange are executed via order matching that is first based on price and then on what time the order is entered with a broker acting either on behalf of a client or itself.

Biggest Opportunities of Trading in Saudi Arabia

Saudi Arabia’s financial services sector specialises in providing Islamic accounts and investment products. While Saudi Arabia has an economy that has been traditionally based on oil production, the Saudi government has recently initiated an ambitious project called Vision 2030 to grow and diversify the economy. Vision 2030’s goal consists of moving the Saudi economy away from oil production, strengthening the country’s Islamic and national identity, and enhancing government effectiveness. The program’s objectives include:

  • Promoting more foreign direct investment
  • Developing capital markets
  • Building renewable energy and domestic tourism infrastructures
  • Increasing natural gas and petrochemical production
  • Expanding communications and information technologies
  • Privatising government entities

According to the World Trade Organisation (WTO), while foreign investment in some areas is forbidden, foreigners can participate to varying degrees in Saudi joint ventures. The WTO also noted an absence of income taxes, low trade tariffs and a low Value Added Tax (VAT) of 5%.

Finally, Saudi Arabia was ranked 7th by the World Bank with respect to protecting minority investors, as well as 24th for registering property and 36th for dealing with construction permits. In addition, the stability of the Saudi riyal relative to the U.S. dollar facilitates investing and trading in Saudi Arabia for U.S. dollar-based foreigners.

Biggest Challenges of Trading in Saudi Arabia

One of the biggest challenges of doing business in Saudi Arabia consists of regional tensions amongst its local trading partners, coupled with the political strains across the Middle East. For example, Qatar left the Organisation of Oil Exporting Countries (OPEC) in January, 2019; two years after Saudi Arabia had cut diplomatic and transportation ties to the country.

Furthermore, since Saudi Arabia is a consistent net exporter with a high GDP-to-trade ratio, the country could potentially be exposed to economic weakness and trade issues. For example, the United States’ ongoing trade tarrifs dispute with China could adversely impact Saudi Arabia in the long term due to the declining demand for oil from the United States and China. The United States has also recently become self-sufficient in its energy needs, while a slowdown in the Chinese economy could diminish Saudi oil exports to that country.

Moreover, according to the World Bank, Saudi Arabia ranked 141st for starting a business, 112th in obtaining credit, 168th in resolving insolvencies and 158th in trading across borders. Overall, the World Bank ranked Saudi Arabia 92nd with respect to the overall ease of doing business in the country.

Summary

In general, traders and businesses could find Saudi Arabia a quite challenging country to operate in, with the country having a rather low ranking from the World Bank on its assessment on the overall ease of doing business. Nevertheless, several attractive opportunities may exist as a result of the Vision 2030 economic diversification plan the Saudi government is presently pursuing.

Furthermore, U.S. dollar-based businesses can benefit from the Saudi riyal’s peg to the U.S. dollar, and anyone interested in using an Islamic account and Sharia law compliant financial products will appreciate the fact that this Arabic country has a wide selection of suitable options for Sharia compliant investors.

Of course, not every local account may comply so it is important to check with a prospective broker if that is a requirement; as well as ensuring that your chosen broker offers the desired asset classes, a safe place to make a margin deposit with client funds segregated from the broker’s own money, and a full featured trading platform.

Why Choose Forex.com
For Saudi Arabia?

Forex.com scored best in our review of the top brokers for saudi arabia, which takes into account 120+ factors across eight categories. Here are some areas where Forex.com scored highly in:

  • 19+ years in business
  • Offers 300+ instruments
  • A range of platform inc. MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.00pips
  • Used by 0+ traders.
  • Offers demo account
  • 1 languages

Forex.com offers one way to tradeForex. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Forex.com have a AAA trust score. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19

Trust Score comparison

Forex.com ThinkMarkets
Trust Score AAA B
Established in 1999 2010
Regulated by Financial Conduct Authority Financial Conduct Authority and ASIC
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of Forex.com vs. ThinkMarkets


Want to see how Forex.com stacks up against ThinkMarkets? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Forex.com ThinkMarkets
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.00 0.10
GBP/USD Spread 0.9 1.2
USD/CAD Spread 0.9 0.9
USD/JPY Spread 0.90 0.10
DAX Spread 250.0
FTSE 100 Spread 150.0
S&P500 Spread 50.0

Comparison of account & trading features

Forex.com ThinkMarkets
Platform MT4, Web Trader, NinjaTrader, Tablet & Mobile apps MT4, Mac, Web Trader, Tablet & Mobile apps
Services Forex Forex, CFDs
Base currency options USD, GBP, EUR USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH
Funding options Bank transfer, Cheque, DebitCard, Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,
Micro account
ECN account