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    The Best Forex Brokers in Saudi Arabia

    Mushtaq Ahmed

    Mushtaq Ahmed


    Broker Guides
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      Foreign exchange (Forex), especially in Saudi Arabia, is one of the most important and popular markets on the planet. Finding the right Forex broker takes work, regardless of whether you are:

      • A newbie to Forex trading.
      • Looking for a platform that can suit your requirements?
      • An experienced trader who wants more information about selecting a broker. 

      Best Forex Brokers in Saudi Arabia

      We created a comprehensive list of brokers who accept Saudi Arabian customers. Then, we ranked the brokers based on their overall ranking.

      Here’s our list of top forex brokers in Saudi Arabia.

      XTB – Great research and education Well-reviewed Forex trading app

      Plus500 – Multi-asset broker, great for beginners

      Top Best Forex brokers in Saudi Arabia

      XTB: Excellent research and education

      XTB is one of the largest Forex brokers in the world. They are known to offer a top-notch trading service. They’ve also been in business since 2002. The company is a veteran in the business but could be more experienced.

      XTB also offers outstanding technology, which they are constantly updating and improving. It also gives them a spot on our list as one of the top Forex brokers despite having nearly 20 years of experience. They quickly expanded after opening a foreign exchange brokerage in Poland and now have 13 European offices.

      • Easy to customize and use
      • Faster execution times
      • Calculator for traders, performance statistics
      • Trading sentiment charts and market order depth

      Plus 500: Multi-asset broker, great for beginners

      Plus 500 is one of the most popular Forex platforms in Britain. It is, in fact, the largest CFD provider across Europe, especially in Germany, the UK, and Spain. CFDs are available for many instruments, including stocks, cryptocurrency, indexes, ETFs, and currency pairs.

      Plus 500 is suitable for traders of any skill level. Plus 500 is a trading platform that allows traders to work with CFDs.

      • There is no commission
      • Leverage of 1:300 or more is possible
      • The order execution will be fast and reliable
      • Stop using a weak balance protection system. A well-reviewed Forex trading application, one of the most popular platforms for trading Forex, is also a very well-known platform. Its investors also look at it due to its well-known name., a publicly-traded online broker on the NASDAQ, is a well-known brand.

      They are also the most well-regulated, with four jurisdictions of tier one. The traders can see the absolute price in real-time thanks to the speedy pricing delivery. This gives traders the confidence to know that orders will be fulfilled at the price they set.

      • Trade execution is 100 percent due to tight spreads
      • A demo account for 30 days is free
      • Quick trade execution. Almost every deal is completed within a couple of seconds.

      How do you choose the best forex brokers in Saudi Arabia?

      It is only possible to determine the best broker for some traders. The winner of the top FX brokers list may only suit some traders. Why do we think that?

      Your trading style, personal preferences, and experience as a foreign exchange trader will determine what you are looking for in an FX Broker. You will still need to research to find a suitable and reliable platform, regardless of whether you’re a newbie or an experienced trader.

      When choosing a broker, you need to consider some important factors.

      Regulation and licensing :

      Regarding your safety, never compromise on licensing and regulation. Be sure that the broker with whom you work is regulated and supervised by a reputable authority, such as the US Commodity Futures Trading Commission(CFTC), UK Financial Conduct Authority(FCA), and the Australian Securities and Investments Commission.

      A top-tier regulatory body will ensure the broker adheres to high financial standards and operates transparently. Find out if your local regulator for the financial markets requires that brokers in your country be licensed.

      Fees and spreads:  

      Trading costs in Forex can quickly add up. Comparing the fees and spreads charged by the broker with those of other brokers (such as the commission and financing rates). Traders tend to prefer lower spreads. Brokers may charge lower spreads but add a fee to every trade. Check the fees carefully.


      In Forex, leverage can either be your friend or enemy. Your decision is up to you. By borrowing from your broker, you can control a bigger position. It is possible to open a bigger position using less capital.

      This can increase your profits. Leverage can also increase your losses, which is a huge concern. Be sure that the leverage offered is compatible with your risk tolerance. Forex traders, and our analysts, like brokers, allow their clients to set the level of leverage on trades manually.

      Trading platform:  

      A broker’s trading platform is important for both beginners and experienced traders. As a beginner, you will want a platform that is easily understandable and comes equipped with straightforward navigation/functionalities.

      Advanced traders are usually looking for more sophisticated technical analysis tools. MetaTrader 4 and MetaTrader 5 platforms, offered by most forex brokers, are popular among forex traders.

      Deposit and withdrawal options :

      Check out the methods available. Ensure the broker offers convenient, secure, and safe payment options for funding and withdrawing your account.

      Demo account :

      A demo account is essential if you’re just getting started as a trader. Demo accounts simulate real accounts, but they use virtual currency to allow you to trade. They are great for learning and practicing without risking any money.

      Differences between MetaTrader 4 and MetaTrader 5

      MetaTrader 5, an update of the MetaTrader platform released in 2011, is a newer version. Surprisingly, MetaTrader 5 is less popular today than MetaTrader 4 despite being significantly more powerful.

      • MT4 allows you to trade Contracts for Differences (CFDs) on Forex, stocks, indices, commodities, cryptocurrencies, and commodities. The MT5 platform allows you also to trade futures and options. The range of the market will depend on the broker.
      • MT5 is capable of handling an unlimited number of instruments. MT4 can only handle 1,024. It is a relatively small number when thousands of shares can be traded on global stock exchanges.
      • MT5 incorporates fundamental data sources from leading sites like Yahoo Finance, Google Finance, and Finviz. It’s especially useful for those who are into fundamental analysis.
      • MT5 displays real trading volumes (in lots) within the platform. Many traders try to forecast short-term changes in price using the depth of market data. This information is not available on MT4.
      • The MT5 platform includes historical prices for a variety of instruments. This makes it simple to test and optimize trading strategies. MT5’s Strategy Tester is also faster and more sophisticated than MT4’s.

      Forex trading for Saudi Arabian traders

      Here are some first important steps to get started in the forex trading business as a trader of Saudi Arabia.

      1. Basics of learning

      Understanding the fundamentals of forex trading before you start Trading is essential. These include market sizes, trading sessions, and currency pairs. You should also learn how to interpret currency prices. You can learn about the Forex market by reading up.

      This will help you to understand the terminology and gain a better understanding of how the market works. There are many options for Forex beginners, including educational courses, books on Forex, podcasts and video series. BabyPips, and Coursera all offer great resources to beginners.

      2. Select a Forex Broker

      Always choose a highly-regulated, reliable forex broker. Regulated forex brokers must comply with local regulations and be subjected to more strict laws. You may not be able to recover your money if you select an unregulated forex broker. (Learn how to avoid scams on our sister website, See our top picks of the 2023 best forex brokers across countries. 

      3. Trading account opening

      It is easy to open an account at a Forex brokerage. Your account will be validated once you submit the KYC documentation and complete your application.

      After your account has been approved, choose a reliable payment method for your Forex broker to deposit and withdraw funds. PayPal is a popular way to deposit funds in brokerage accounts. Check out our list of the top brokers who accept PayPal.

      4. Trading plans

      Trading plans are a collection of guidelines and rules that help you define your goals and objectives, as well as your style and strategy. They also include risk management and evaluation criteria.

      You can track and measure your progress with a trading plan. It can also help you to stay consistent and disciplined. Develop a plan of Trading that fits your personality, goals, and preferences. Test your plan on a demo before applying it in the real world.

      5. Start Trading

      Use proper risk-management strategies to minimize your losses and maximize profits. Start with a Demo Account before you move to a Live account. You can also keep a Trading journal and look back at it over time. To avoid impulsive or emotional Trading, be patient and realistic with your expectations.


      You must do thorough research to choose the best broker for forex trading in Saudi Arabia. Everything from regulatory compliance, trading platforms, and fees to customer service affects every aspect of a trader’s satisfaction and success. After evaluating the options, traders should find brokers that match their trading needs and preferences.


      Is Forex allowed in Saudi Arabia?

      Forex trading is legal in Saudi Arabia, where most Forex traders deal with well-trusted international brokers.

      Are forex trading profits taxable in Saudi Arabia?

      Forex trading profits are not subject to taxation in Saudi Arabia.

      Can I trade Forex with a small investment?

      Yes, many brokers offer the option to start trading with a small investment.

      What is the difference between MT4 and MT5?

      While both platforms offer advanced features, MT5 includes more timeframes and additional technical indicators.

      Is customer support available in Arabic?

      Yes, most top brokers provide customer support in Arabic to cater to local traders.

      Are there any risks associated with forex trading?

      Forex trading involves risk, and traders should only invest what they can afford to lose. 


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