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Brokers With SAR Accounts

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Edited By
James Barra
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Edited By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Updated
Oct 4, 2024

A Saudi riyal (SAR) trading account is denominated in Saudi Arabia’s currency. For Saudi traders, they offer straightforward account management while allowing you to store trading capital in a relatively stable, USD-pegged currency.

Discover our choice of the best brokers with SAR accounts, personally tested by our experts.

Best Brokers With SAR Accounts

Our evaluations show that these are the top 2 trading platforms that accept SAR accounts:

Click a broker for details
  1. 1
    Exness
    Ratings
    3.8 / 5
    4.3 / 5
    3.5 / 5
    3.8 / 5
    3.8 / 5
    3.8 / 5
    4.3 / 5
    1.5 / 5
    4.4 / 5
    4.3 / 5
    $10
    0.01 Lots
    1:Unlimited
    CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral
    Wire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto, Airtel, Debit Card, Neteller, Skrill, Perfect Money, Sticpay, AstroPay, Cashu, FasaPay, WebMoney, M-Pesa
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY
    Go To Exness
  2. 2
    OKX
    $10 in BTC
    Ratings
    2.8 / 5
    3.5 / 5
    3.8 / 5
    4 / 5
    3.8 / 5
    2.5 / 5
    3 / 5
    3.5 / 5
    0 / 5
    0 / 5
    10 USDT
    Variable
    VARA
    Spot, futures, perpetual swaps, options
    AlgoTrader
    Wire Transfer, PayPal, Credit Card, Mastercard, Visa, Bitcoin Payments, Google Wallet, Banxa, Apple Pay, Simplex, Ethereum Payments
    USD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR
    Go To OKX

Here is a short overview of each broker's pros and cons

  1. Exness - Established in 2008, Exness has maintained its position as a highly respected broker, standing out with its industry-leading range of 40+ account currencies, growing selection of CFD instruments, and intuitive web platform complete with useful extras like currency convertors and trading calculators.
  2. OKX - OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.

Brokers With SAR Accounts Comparison

Brokers With SAR Accounts Comparison
Broker SAR Account Minimum Deposit Markets Regulator
Exness logo
✔ $10 CFDs, Forex, Stocks, Indices, Commodities, Crypto CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC
OKX logo
✔ 10 USDT Spot, futures, perpetual swaps, options VARA

Exness

"After slashing its spreads, improving its execution speeds and support trading on over 100 currency pairs with more than 40 account currencies to choose from, Exness is a fantastic option for active forex traders looking to minimize trading costs."

Christian Harris, Reviewer

Exness Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorCySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC
PlatformsExness Trade App, Exness Terminal, MT4, MT5, TradingCentral
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:Unlimited
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY

Pros

  • Fast and dependable 24/7 multilingual customer support via telephone, email and live chat based on hands-on tests.
  • Exness was the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes, highlighting its legitimacy.
  • Excellent range of account types for all experience levels, including Cent, Pro plus the introduction of Raw Spread, ideal for day traders.

Cons

  • Exness has expanded its range of CFDs and added a copy trading feature, but there are still no real assets such as ETFs, cryptocurrencies or bonds
  • Apart from a mediocre blog, educational resources are woeful, especially compared to category leaders like IG which provide a more complete trading journey for newer traders.
  • Retail trading services are unavailable in certain jurisdictions, such as the US and the UK, limiting accessibility compared to top-tier brokers like Interactive Brokers.
Visit Exness
Exness Review

OKX

"OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots."

William Berg, Reviewer

OKX Quick Facts

Bonus Offer$10 in BTC
Demo AccountYes
InstrumentsSpot, futures, perpetual swaps, options
RegulatorVARA
PlatformsAlgoTrader
Minimum Deposit10 USDT
Minimum TradeVariable
Account CurrenciesUSD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR

Pros

  • You can access a wide range of trading products, including futures, options and perpetual swaps via a mobile app or desktop platform
  • There's a vast developer lab plus access to a marketplace of pre-built trading bots with auto-arbitrage
  • OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority

Cons

  • The firm offers limited regulatory oversight, though this is common among crypto brokers
  • The broker's platform and features may be complex for novices
  • The quality of customer support was inconsistent based on testing
Visit OKX
OKX Review

How Did We Choose The Best Brokers?

To uncover the best trading platforms with SAR accounts we:

  • Examined our 216-strong database of online trading platforms and brokers
  • Focused on all those that offer an account denominated in Saudi riyals
  • Ranked them by their overall rating, derived from 100+ data points and hands-on tests

What Is An SAR Account?

An SAR account is a trading account where the balance, trades and funding transactions are handled in Saudi riyals.

Since your cash and traded assets are displayed in SAR, you can easily manage your profit and loss statements in your home currency.

Below you can see an example where I opened an SAR account with Exness:

Opening an SAR account at Exness
Exness – SAR Account Registration

Do I Need An SAR Trading Account?

An SAR account may be suitable if:

  • You live in Saudi Arabia and hold or save money in SAR because it’s more cost-efficient to hold an account in your local currency.
  • You frequently trade regional markets like Middle Eastern oil company stocks, since the SAR is strongly aligned with oil prices.
  • You are an overseas trader seeking to diversify your portfolio by holding capital in a relatively strong US-pegged currency.

How Can I Check If A Broker Offers An Account In Saudi Riyals?

You can follow these straightforward steps which we also took to ensure our recommended platform offers a SAR account:

  1. Navigate to the account types page on the broker’s website to find the selection of base currencies.
  2. Check that ‘SAR’ is available as a supported currency in Saudi Arabia.
  3. Register for an account and choose ‘SAR’ as your base currency.
💡
If available, I recommend opening a demo account in SAR first so you can view your transactions, trading costs and exchange fees in riyals.

Pros & Cons Of SAR Trading Accounts

Pros

  • SAR accounts are subject to fewer or no currency conversion fees for Saudi clients – a notable advantage for active traders who carry out frequent transactions.
  • The Saudi riyal’s peg to the US dollar and the nation’s control over global oil reserves means that the SAR remains relatively stable and can offer a degree of protection against exchange rate volatility.
  • We’ve found brokers with SAR accounts often tailor their services to Saudi traders, for example, by providing local customer support and Islamic accounts (both available at Exness).

Cons

  • SAR accounts are still uncommon and only account for less than 1% of brokers that we’ve evaluated, giving you a much smaller choice of high-quality trading platforms to choose from.
  • Our experience shows that stocks listed on the Tadawul Saudi Stock Exchange are not widely available at most brokers – a notable drawback for Saudi traders looking to trade domestic equities in a SAR-based trading account.
  • Trading other international assets, such as US stocks, may be subject to conversion fees if your account is in SAR. IG, for example, charges 0.8%.

FAQ

Which Is The Best Broker With An SAR Account?

You can refer to our ranking of the best trading platforms with SAR accounts, which have been thoroughly tested by our experts.

How Much Does It Cost To Open A Trading Account Based In Saudi Riyals?

Based on our tests, you will need up to 250 USD (approximately 937 SAR) to open a live trading account. That said, many beginner-friendly brokers require much less, including Exness with just 10 USD (around 37 SAR).

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