company The company provides its investment services in the field of trading and currencies in countries, serving millions of investors, and therefore it is one of the largest and trusted global companies in the field of forex.

The company has obtained several international licenses such as: Cyprus Securities and Exchange Commission SySEC license. Financial Conduct Authority FCA license. Australian Securities and Investments Commission ASIC license. Seychelles Financial Services Authority FSAS license. Among the most important payment methods supported by etoro in Saudi Arabia: credit cards: Payments are accepted in US dollars, British pounds, Australian dollars or Euros, and the maximum payment is 40 thousand US dollars.

NETELLER : Payments are accepted in US dollars, British pounds and Euros, and the maximum deposit is 10 thousand US dollars. Bank transfer: It takes days, accepts payment in USD, GBP or EUR, there is no maximum deposit.

FXDD Company FXDD is one of the best licensed forex companies in Saudi Arabia, providing Islamic accounts for trading without any usurious transactions or fixed interest.

FXDD has many advantages that can be summarized as follows: Obtained a license FCA from the British regulator. I have obtained a license from the Malta Investment Services Authority MFSA.

Accepts dealing in various currencies such as the US dollar, the British pound, the Japanese yen and the European euro. Money transfers are accepted in multiple ways such as debit card and NETELLER and SKRILL electronic banks. Multiple platforms are used for trading operations such as MiroTrader, MetaTrader 4 and MetaTrader 5.

It provides a trading opportunity for beginners as it allows depositing with only USD. Read also: 6 Successful Business Ideas in Saudi Arabia 3. Which are summarized as follows: It has obtained several international licenses such as: FCA, FSA, KNF, CySEC.

It has won several international awards in several features such as customer service or mobile application. Deposits and withdrawals are accepted in a variety of ways such as: Wire, Visa, Neteller, Skrill, Mastercard. It offers a free demo account to practice trading operations for 30 days.

Low spreads starting from 0. There is no minimum deposit. Read also: Small business ideas in Saudi Arabia easy to implement and profitable 4. The company Evest Evest provides its clients with more than financial instruments for trading business, as it operates in financial markets around the world, and it provides the service of opening trading accounts for free, and also offers transactions without hidden fees and without commissions.

The company has always been interested in customer service and provides many means of communication between it and customers, and for the Kingdom of Saudi Arabia in particular, it has provided a phone number for phone contact, which is: As for the advantages of trading in the company and the most important licenses that it obtained, we summarize them as follows: It has been licensed by the Financial Services Commission VFSC. It has been licensed by the Financial Sector Conduct Authority FSCA.

Withdrawals and deposits are accepted via Wire, Visa, Mastercard, Neteller, Skrill. Read also: Best ways to invest in Saudi Arabia to double your money easily 5. FXTM Company FXTM was founded in , and since then it has won 25 global awards in the field of trading, and has attracted more than 4 million clients around the world.

The company has achieved these successes based on some of the features it offers, which we summarize as follows: Obtained a Financial Services Authority FSC license. It is licensed by the UK Financial Conduct Authority FCA. No deposit fees are charged while withdrawal fees vary by method.

Deposits and withdrawals are accepted with bank cards Visa, Mastercard, Maestro. Accept deposits and withdrawals with electronic banks skrill, payredeem, netteller, webmoney perfectmoney. Deposits and withdrawals are accepted by Saudi local methods yer, sar, sdg. I used advanced trading platforms FXTM Trading Station, MetaTrader 4 and Trading Station. Provides a fixed spread and leverage value of Company One of the best licensed forex brokers in Saudi Arabia and the UAE as well.

The most important features and characteristics of trading in Hycm can be explained as follows: It is licensed by the UK Financial Conduct Authority FCA. Both are licensed by the Cyprus Securities and Exchange Commission SySEC. Obtained both the Cayman Islands Monetary Authority CIMA license.

Obtained both the Dubai Financial Services Authority DFSA license. It was marked by low spreads of 0. It provided Islamic trading accounts without usurious interests.

Provides fixed spreads. No deposit fees are charged. Exness company Exness has been working in the financial markets and stock market since its establishment in , and in more than ten years it has been able to enter many financial markets in many countries.

The company was also able to obtain many international licenses, and provide many advantages to its customers, the most important of which are the following: It is licensed by the Financial Services Supervisory Authority FSA. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry. With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year.

Here's how we test. Trading forex currencies in Saudi Arabia is popular among residents. While recommended, forex brokers are not required to become authorised by the Capital Market Authority CMA to accept residents of Saudi Arabia as customers. The Capital Market Authority is the financial regulatory body in Saudi Arabia. The CMA, which was formed in , regulates and develops the Saudi Arabian Capital Market.

For a historical breakdown, here's a link to the Capital Market Authority webpage on Wikipedia. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

To find the best forex brokers in Saudi Arabia, we created a list of all brokers that list Saudi Arabia as a country they accept new customers from. We then ranked brokers by their Overall ranking. Compare Saudi Arabia authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below.

This broker list is sorted by the firm's ForexBrokers. com Overall ranking. To identify if a forex broker is authorised by the CMA use this directory.

Was this helpful? Yes or No. For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure.

Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Saudi Arabia has predominantly been a strong economy driven by oil and petroleum exports. However, the economy had understood the need for diversification due to the entry of new competitors. Forex trading in Saudi Arabia has been an investment for a small proportion of investors. Considering the computer literacy and awareness, only a few investors were aware of this new investment product earlier. Overall the nation has slow progress in exploring global investment products like Forex trading.

The popularity of Forex trading is continuously increasing due to the introduction of Islamic Forex Trading accounts in Saudi Arabia by some leading brokers. Rapid growth in the field of computers and internet among the tech-savvy Saudi residents has brought many new traders into Forex trading in Saudi Arabia. Due to the growth of Forex trading in Saudi Arabia, the number of Forex brokers have increased in Saudi Arabia. But all these brokers are not regulated by regulating authorities.

It is imperative that while choosing a broker, one should check whether he is registered with the regulating agencies to carry out Forex trade. One also needs to keep abreast of how the broker charges them. Some of them recover separate commission or some charge a mark upon the spread. Also, one should trade with a broker who provides excellent customer service. The brokers should offer proper technical analysis to their customers.

When the trade volumes are high, there is more leverage; there are possibilities of making huge profits too. We have analyzed the following Forex brokers in Saudi Arabia and found reliable and safe for Forex trading in KSA.

They provide Islamic accounts and Arabic language support to their clients doing Forex trading in Saudi Arabia. Despite the overall positive news for the market, the regulatory permits regime in Saudi Arabia could be the privilege of carefully selected few companies. Riyad Capital is a subsidiary of Riyad Bank, which is the third-largest financial institution in the country.

The Saudi state owns 51 percent of the bank. With the first regulatory license now on the table, it remains to be seen whether other companies would be able to apply and secure the lucrative permit.

While Saudi Arabia has been opening up its capital markets over the past several years, its progress has been slow and the country is still tightly controlled by the state. The country and financial markets locally have long been preparing for the IPO listing of the biggest state-owned company Saudi Aramco. Saudi Arabia has also been making headlined in the cryptocurrency space.

Ava Trade is one of the Forex brokers offering Islamic trading accounts for Forex trading in KSA. It is one of the biggest online trading platforms specializing in Forex trading complying with Islamic principles.

They have local offices and Arabic speaking staff who are well conversant with Islamic Forex trading accounts. That is the reason it has become one of the most popular Forex brokers in the MENA region. You can access their website in the Arabic language and the local Arabic speaking support staff ready to guide you. Ava Trade support staff can guide you through the account opening and verification process so that you can jump into trading quickly.

Ava Trade has excellent training materials to educate the traders the right way, and educational materials are in the Arabic language for your easy understanding. Ava Trade believes a right start can lead the trader to success in the Financial Market while adhering to Islamic principles. com helps you compare and choose your preferred Forex Broker. We suggest keeping the following checklist in mind when making your decision:.

Forex market hours is one of the most critical facts of trading Forex in Saudi Arabia. It is open for 24 hours a day with five days a working week having three main sessions. They are the Asian session- Tokyo, US session- New York and the European session- London. There are sometimes when two sessions are open at the same time known as session overlap. The technical indicators work well when there is enough liquidity in the market.

There is higher liquidity in the market when US and European sessions overlap. The major news release also takes place during these sessions. Hence, it is better to trade from 3 pm to 6 pm Saudi time, when both London and Newyork markets are open. London session is the first session of a trading day which is referred to as the European session.

It begins at 10 AM Riyadh time ends at 6 PM Riyadh time. The European session is the most active trading session with high liquidity leverage, which means a massive volume of trading is done in this session.

This session also overlaps with the other two sessions. It is the US trading session. It begins at 3 PM Riyadh time and closes by 8 PM or 11 PM Riyadh time. This session has the highest liquidity around 3 PM Riyadh time to 6 PM Riyadh time.

Market hours for trading in Forex in Saudi Arabia provide the traders with flexible trading hours. However, it is advisable to trade during the most liquid hours to make successful trades. Also, some of the most rewarding market times happen when two or more markets are open at the same time. On can concentrate on these aspects while making a trade to ensure profitable trade.

It is legal to trade Forex in Saudi Arabia. Several brokers are having their offices in Saudi Arabia and complying with Saudi regulators and Islamic principles. You can always try their services in a Demo Account for Free. You should inform your account manager and select to open an Islamic trading account while registering with the broker.

The specialty of the Islamic Forex account is that it does not allow any interest in your trading account. Thus it keeps your account compliant with Sharia laws. Forex trading is legal in Saudi Arabia as long as you are doing it under an authorized company or broker. In , the Ministry of Commerce and Investment, Capital Market Authority and the Saudi Arabian Monetary Agency SAMA launched an awareness campaign to warn traders about illegal websites that promote forex trading without obtaining relevant licenses.

This is to prevent them from falling into scams, fake contracts, etc. Considering how big and free the cryptocurrency market is, it was an excellent way to protect traders and create boundaries. Thus, you should always make sure to trade under a regulated broker to avoid illegal forex trading platforms that claim to be authorized, yet they are not.

Initially, before the government launched the awareness campaign, there were several cases where people lost their money and time to fake brokers. We have already done the research for you and listed above the best forex brokers that accept Saudi Arabian traders so this should not be a problem. Opening an account is easy. You only need to provide your personal information. Make sure that the details you provide are correct to avoid both legal and financial issues.

All forex brokers support a variety of payment options. Find one that supports your preferred payment methods and use it. However, you should not get too excited about trading because the forex market is highly volatile and you can easily lose your money. Although forex trading is often considered to be haram, it is possible to use an Islamic forex account. You can use a halal trading account that is offered to Muslim traders who wish to invest in the Islamic stock market.

It abides by Islamic finance principles. Also known as a swap-free account, it differs from regular trading platforms in many ways. First, since Sharia law does not allow accumulation of interest rates, Islamic accounts do not feature interest rates. Second, based on Islamic finance, transactions must be done without any delays. Therefore, currencies must be transferred between accounts immediately, and transaction costs should be paid promptly.

These principles do not conform to western banking and traditional trading principles. Islamic accounts are created to respect Islamic principles and to enable Muslim people to trade without separating their investments from their religious beliefs.

The most important feature that you should look for in a brokerage firm is security. You will be handing. your hard-earned money to your forex broker and the least they can do for you is to keep it secure.

Check if the Saudi Arabian forex broker is regulated by a reputable global agency. The best forex brokers are usually regulated by the ASIC, CySEC or FCA. Many forex brokers will claim that they do not charge deposit, withdrawal and account fees.

They may not charge them directly, but they tend to recover them through hidden fees and commissions that may eat up a large chunk of your investment. A good forex broker in Saudi Arabia should be able to provide you with a fast withdrawal process. The withdrawal fees should also be minimal and not excessive.

Another important issue to consider is the trading platform. It should not be too complicated to the point that you are unable to use it. Look for a forex broker with a user-friendly trading platform. It will also be much better if the company can offer you educational material, eBooks, video tutorials, webinars, and other helpful materials to help you in your trading journey.

Lastly, look at all the available options that the forex brokerage firm is offering you. Look at the number of investment instruments, trading tools, the number of supported platforms, payment methods, bonuses, and commission fees among others. Also, consider how good its customer service is. One major advantage that the Saudi Arabian financial market has over other financial markets is that there is no cap to its leverage limit.

Saudi Arabian traders can take advantage of high leverage of up to provided the brokerage firm allows it, which can lead to high profits when utilized correctly.

This session also overlaps with the other two sessions. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. Below are the four Islamic finance basic principles. It is licensed by the Cyprus Securities and Exchange Commission SySEC. Look at the number of investment instruments, trading tools, the number of supported platforms, payment methods, bonuses, and commission fees among others.

Categories:

• Forex
• Binary Options
• Binary Options online
• Forex Brokers
• Forex Bitcoin