2021 Guide to investing in Stocks, Shares, CFD's, Cryptocurrencies, Commodities and more in Saudi Arabia
This guide to the reputable online brokers in Saudi Arabia has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
This guide contains the latest details about finding the most professional broker in Saudi Arabia.
If you are a new entrant in the realm of trading and broker, so many facts will be confusing for you. Getting into the area of trading demands expert assessing skills and comprehensive knowledge. You will get proficient skills at all the concepts of brokerage as you continue trading. For starters, you need to choose the best broker in Saudi Arabia who'll be transparent with you always.
In this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment program is key to your success.
We currently have 17 Brokers in our database that we think are the Professional Trading Patforms in Saudi Arabia
Who’s The Top Saudi Arabia Online Brokers?
This review has been provided to help you find a professional Saudi Arabia broker. When searching for a good, reliable broker in Saudi Arabia it can be a little confusing. Below we show what your broker options are in Saudi Arabia and what Saudi Arabia brokers can do for you.
We currently have 17 Online Brokers in our database that we believe are the Reputable Trading Patforms in Saudi Arabia
|Charter Prime||Coinbase||HYCM||Wealthfront||Evans and Partners||Vinson Financials||Bailieu||OANDA||Uniglobe Markets||Euro Pacific Bank||WellsTrade||Degiro||Forex EE||Abshire Smith||Ducascopy Bank||Circle Markets||Xtrade|
|Find Out More|
|Headquarters||Australia||United States||UK||USA||USA||Cyprus||Australia||United States, Canada||Marshall Islands||Puerto Rico||United States||Netherlands||Grenadines||United kingdom||Switzerland||New Zealand||Australia|
|Regulated By||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048||Unregulated||Unregulated||Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)||Australian Securities and Investment Commission (ASIC)||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)||Unregulated||Office of the Commissioner of Financial Institutions (OCIF)||Unregulated||Financial Conduct Authority (FCA), The Netherlands Authority for the Financial Markets (AFM), The Dutch Central Bank (DNB)||Ministry of Economic Affairs in Estonia||Financial Conduct Authority (FCA)||Financial Industry Regulatory Authority (FINRA), Financial Services Authority (FSA)||Financial Industry Regulatory Authority (FINRA)||Cyprus Securities and Exchange Commission (CySEC)|
|Risk Warning||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk||Your capital is at risk||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits|
|CFD Fees||No||$15 for 1 lot on indices||No||Yes|
|Accepts Credit Cards||Yes|
Online Stock Trading In Saudi Arabia
Trading investments in Saudi Arabia is highly controlled and considered quite safe. However, conscious that any investment can go down as well as up, so your capital is in danger.
If you are just starting out with online trading then it is suggested to get a demo account first with a regulated agent so you are able to find out the systems without the risk of losing money.
Live Forex Trading In Saudi Arabia
Forex is the biggest liquid financial market in the world using a daily monetary exchange turnover of over $5 trillion (BIS statistics April 2016).
Forex (Abbreviation of Foreign Exchange) is a currency exchange involving two distinct nations and the next management of the resulting position where one currency gains and the other loses.
It's simple to do Live Forex Trading in Saudi Arabia using seasoned online agents
Live CFD Trading In Saudi ArabiaCFD trading is the selling and buying of contracts for difference via an online agent in Saudi Arabia. When trading CFDs you are entering into an agreement to exchange the difference in the price of an asset from the point at which the contract is opened to when it is closed.
Spread Betting In Saudi Arabia
Spread Betting in Saudi Arabia is possible using trusted online brokers like eToro or 101Investing. It is a simple bet as to whether the price will go up or down. Normally, the Saudi Arabia online brokers will display the prices you have.
If you are looking at how to do spread betting in Saudi Arabia then it is an idea to start with a demo account with either XTM or IC Markets so that you can practice with fake currency before risking your own capital.
Trading Forex in Saudi Arabia
Globally, Saudi Arabia is considered safe to do online trading and has access to other global financial centers. In Saudi Arabia, online trading platforms are highly regulated, professional and supportive.
However, it is always important to be as informed as possible so here we detail some of the important things any trader should know:
The financial industry in Saudi Arabia are very mature and are seen are very trustworthy due to regulation and compliance by the local Fiancial trade authority in Saudi Arabia.
The online trading apps used by brokers in Saudi Arabia are well tested and highly rated & secure.
Whichever Online Trading Brokers in Saudi Arabia you decide to use, ensure they have all of the below:
- Easy to use platform
- Availability of a risk management tool
- Good or instant execution speed
- High quality charts
- Able to perform social trading
- Timely online help or support
Challenges Of Trading Online in Saudi Arabia
The US Dollar is considered the base currency around the world so even a tiny change in the US financial markets may affect the economic markets in Saudi Arabia. The EU is also a large economy and changes there could affect the financial markets in Saudi Arabia.
Like every country there are challenges in Saudi Arabia financial markets and overall the prospects are great. However, like in all global economic markets we recommend that any Online Trading Solutions in Saudi Arabia you decide to use, make sure you do your due diligence first before risking any real money. We have collected thousands of datapoints and written this guide to help you find the Best Trading Platforms in Saudi Arabia. We hope that by reading this guide you will find a reputable broker that matches your needs.
Frequently Asked Questions About Trading Forex In Saudi Arabia
Is Forex Trading Legal In Saudi Arabia?
There is a growing misconception that trading Forex in Saudi Arabia is deemed unsafe. This is not the case, Forex Currency trading in Saudi Arabia is very active, regulated and safe.
Trading in Forex is allowed in Saudi Arabia as for any business to trade internationally, foreign currency has to be exchanged. Any time you purchase something and it's sent from abroad, there will be multiple currency exchanges by multiple businesses to get that item to you.
The important issue is that if trading Forex in Saudi Arabia you select one of the top online brokers.
Do Forex Traders Pay Tax In Saudi Arabia?
Once a trader is successful and their profits reach a certain level then they may be taxed in Saudi Arabia as per the standard tax rules.
Tax returns should always be registered even if there is a loss. You should seek out advice with a registered accountant in Saudi Arabia to make certain you're abiding by all current local laws since it's very dependent on your personal conditions.
Can You Trade Cryptocurrencies In Saudi Arabia?
Cryptocurrency markets in Saudi Arabia are rather new. As Cryptocurrencies work on decentralised assets in Saudi Arabia matters like interest rate changes and political instability don't affect them as much as the currency markets.
Cryptocurrencies are more popular with the younger generations and with increasing income amounts and technologies adoption, trading cryptocurrency in Saudi Arabia is increasing day by day. It's still small in comparison to the Forex markets however about $6 billion USD of Bitcoin is traded daily.
Can You Trade Commodities In Saudi Arabia?
Commodities trading in Saudi Arabia includes trading in things like precious metals, energies and agricultural commodities.
Some commodities like agricultural are seeing exponential growth inSaudi Arabia.
Fast growing markets like India have a big demand for many fundamental raw materials for their inhabitants. It follows that states like Saudi Arabia can take advantage of this situation.