Best Day Trading Platforms and Brokers in Saudi Arabia 2024
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Despite its historical reliance on petroleum, Saudi Arabia aims to diversify its economy into other industries, such as the financial and private sectors, by 2030. This economic shift offers exciting opportunities for day traders looking to speculate on various markets, from stocks listed on the Saudi Exchange to traditional Saudi investments like crude oil.
Yet to trade these, amongst other instruments, you’ll need an online broker. The Saudi Capital Market Authority regulates brokers domestically, but you can also register with overseas platforms. If you opt for this route, make sure you adhere to Saudi Central Bank regulations and local tax rules.
We’ve pinpointed the best day trading platforms in Saudi Arabia. Every broker listed accepts traders from Saudi Arabia, while some also offer SAR accounts for convenient deposits.
Top 10 Platforms for Day Trading in Saudi Arabia
Following our hands-on assessments, these 10 platforms are the standout options for Saudi day traders:
-
1XTB78% of retail accounts lose money.
Ratings
$00.01 Lots1:30 (EU) 1:500 (Global)FCA, CySEC, KNF, CNMV, DFSA, FSCCFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFsxStationPayPal, Visa, Mastercard, Wire Transfer, Paysafecard, Skrill, Credit Card, Debit Card, Maestro, NetellerUSD, EUR, GBP, HUF -
2Alpari30% up to $100 (terms apply)
Ratings
$50.01 Lots1:1000FSC, SEBI, JFSAForex, CFDs, Stocks, Commodities, Indices, CryptoMT4, MT5Mastercard, Credit Card, FasaPay, Volet, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD, EUR, GBP, CZK, NGN -
3AvaTrade20% Welcome Bonus up to $10,000
Ratings
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
4Deriv.com
Ratings
$50.01 Lots1:1000MFSA, LFSA, VFSC, BFSCCFDs, Multipliers, Forex, Stocks, Indices, CommoditiesDeriv Trader, MT5Neteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCashUSD, EUR, GBP, AUD -
5Exness
Ratings
$100.01 Lots1:2000FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoExness Trade App, MT4, MT5, TradingCentralWire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, BoletoUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR -
6PepperstoneCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Ratings
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, SkrillUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
7IC Markets
Ratings
$2000.01 Lots1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)ASIC, CySEC, FSA, CMACFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, CryptoMT4, MT5, cTrader, TradingView, TradingCentral, DupliTradePayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeChargeUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
8XM$30 No Deposit Bonus When You Register A Real Account
Ratings
$50.01 Lots1:1000ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
9Eightcap
Ratings
$1000.01 Lots1:500ASIC, FCA, CySEC, SCB, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
10DNA Markets
Ratings
$1000.01 Lots1:500ASICCFDs, Forex, Indices, Commodities, Stocks, CryptoMT4, MT5Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, MastercardUSD, EUR, GBP, CAD, AUD, NZD, SGD
This is why we think these brokers are the best in this category:
- XTB - Founded in 2002 in Poland, XTB now serves more than 935,000 clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 5,600+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring day traders.
- Alpari - Alpari is an offshore multi-asset broker that offers traders a wide range of forex trading opportunities as well as stock, index and commodity CFDs. The broker also offers fixed costs with payouts known upfront. Trading takes place on the reliable MT4 and MT5 platforms, plus the brand's mobile app. Alpari offers tight ECN spreads which will serve active day traders.
- AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
- Deriv.com - Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
- Exness - Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 800,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
- IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
- Eightcap - Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 1,000+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.
- DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
Best Day Trading Platforms and Brokers in Saudi Arabia 2024 Comparison
XTB
"XTB stands out as a top choice for new day traders with the terrific xStation platform, commission-free pricing, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform. "
Christian Harris, Reviewer
XTB Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs |
Regulator | FCA, CySEC, KNF, CNMV, DFSA, FSC |
Platforms | xStation |
Minimum Deposit | $0 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (EU) 1:500 (Global) |
Account Currencies | USD, EUR, GBP, HUF |
Pros
- First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing.
- XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring day traders have quick access to their funds.
- With over 5,600 instruments across forex, stocks, indices, ETFs, commodities, and cryptocurrencies, including CFDs, share dealing and more recently Investment Plans, XTB caters to both short-term traders and longer-term investors.
Cons
- The research tools at XTB are good but could be great if they went beyond in-house features with access to leading third-party tools such as Autochartist, Trading Central and TipRanks.
- Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.
- XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite.
Alpari
"Alpari will suit short-term binary options traders with a low $5 deposit, powerful charting terminals, and a rebate scheme. Forex traders also get very high leverage with tight spreads while the broker's PAMM service will appeal to hands-off investors."
Tobias Robinson, Reviewer
Alpari Quick Facts
Bonus Offer | 30% up to $100 (terms apply) |
---|---|
Demo Account | Yes |
Instruments | Forex, CFDs, Stocks, Commodities, Indices, Crypto |
Regulator | FSC, SEBI, JFSA |
Platforms | MT4, MT5 |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:1000 |
Account Currencies | USD, EUR, GBP, CZK, NGN |
Pros
- There's an excellent choice of funding options with no fees
- Alpari supports both the MT4 and MT5 platforms with support for Expert Advisors (EAs)
- The broker offers high leverage up to 1:1000 for experienced clients
Cons
- The market analysis and research tools are limited
- There are fairly high charges for strategy manager copy trading tools
- The lack of educational resources is disappointing compared to alternatives
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
Rebecca Holden, Reviewer
AvaTrade Quick Facts
Bonus Offer | 20% Welcome Bonus up to $10,000 |
---|---|
Demo Account | Yes |
Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures |
Regulator | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM |
Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail) 1:400 (Pro) |
Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
Cons
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
- Traders from the US are not accepted
Deriv.com
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
Rebecca Holden, Reviewer
Deriv.com Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Multipliers, Forex, Stocks, Indices, Commodities |
Regulator | MFSA, LFSA, VFSC, BFSC |
Platforms | Deriv Trader, MT5 |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:1000 |
Account Currencies | USD, EUR, GBP, AUD |
Pros
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters
- The low $5 minimum initial deposit suits those on a lower budget
Cons
- There's no loyalty program or rebate scheme for high volume traders
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
Exness
"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."
Tobias Robinson, Reviewer
Exness Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
Regulator | FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMV |
Platforms | Exness Trade App, MT4, MT5, TradingCentral |
Minimum Deposit | $10 |
Minimum Trade | 0.01 Lots |
Leverage | 1:2000 |
Account Currencies | 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 |
Pros
- The broker offers fast execution speeds for short-term traders, averaging under 25ms
- There's excellent 24/7 multilingual customer support via telephone, email and live chat
- The broker is accessible for beginners with low minimum deposits from $10 and flexible payment methods
Cons
- There are several regional restrictions for retail traders including the USA, Europe and the UK
- There are no promotional deals or loyalty schemes for high-volume day traders
- Unlike most competitors, Exness doesn't provide its own education section
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Christian Harris, Reviewer
Pepperstone Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
Minimum Deposit | $0 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
Cons
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
Christian Harris, Reviewer
IC Markets Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
Regulator | ASIC, CySEC, FSA, CMA |
Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
Minimum Deposit | $200 |
Minimum Trade | 0.01 Lots |
Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
XM
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
Rebecca Holden, Reviewer
XM Quick Facts
Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
---|---|
Demo Account | Yes |
Instruments | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
Regulator | ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF |
Platforms | MT4, MT5 |
Minimum Deposit | $5 |
Minimum Trade | 0.01 Lots |
Leverage | 1:1000 |
Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- XM is a hugely respected broker authorized by tier-one regulators
- XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
- The broker offers premium research including market sentiment, fundamental insights and strategy builders
Cons
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- There is weak regulatory oversight through the global entity
- PayPal deposits are not supported
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Christian Harris, Reviewer
Eightcap Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
Regulator | ASIC, FCA, CySEC, SCB, CNMV |
Platforms | MT4, MT5, TradingView |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:500 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
Cons
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
DNA Markets
"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "
Jemma Grist, Reviewer
DNA Markets Quick Facts
Demo Account | Yes |
---|---|
Instruments | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
Regulator | ASIC |
Platforms | MT4, MT5 |
Minimum Deposit | $100 |
Minimum Trade | 0.01 Lots |
Leverage | 1:500 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- After a recent upgrade, there are now over 800 assets available to trade via CFDs, with a particularly impressive range of 120+ cryptos
- Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
- Convenient account funding is available with 7 base currencies, a $100 deposit and a wide range of payment methods
Cons
- Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
- Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
- Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
Methodology
To list the best day trading platforms in Saudi Arabia, we leveraged our database of almost 500 brokers, removed all those not accepting Saudi traders, and sorted those left by their overall rating.
Our ratings blend 100+ data points with findings from our personal observations during testing.
- We verified that each broker accepts Saudi day traders.
- We only recommended trusted brokers.
- We ensured that each broker offers a wide range of markets.
- We prioritized brokers with competitive day trading fees.
- We favored brokers with reliable charting platforms.
- We checked each broker’s leverage and margin requirements.
- We examined each broker’s execution quality.
- We made sure that each broker offers convenient account funding.
How To Choose A Day Trading Broker In Saudi Arabia
Based on our years of experience and extensive analysis, there are several factors to consider when choosing a broker:
Choose A Trusted Broker
This should give you peace of mind when depositing Saudi riyals while helping to protect you from scams.
Trading scams have unfortunately risen in recent years, with Saudi investors losing over $10 billion to fake forex websites in just 5 years, as reported by Arab News.
This is why we always thoroughly check the broker’s regulatory credentials, as well as their overall reputation in the industry.
The Saudi Capital Market Authority (CMA) regulates domestic brokers, although the regulator is not as prominent as leading agencies like the FCA in the UK or the ASIC in Australia.
- AvaTrade sets the standard with its multi-regulated trading environment and long track record since 2006. The firm is licensed by several ‘Green Tier’ authorities including Cyprus’ CySEC and the ADGM/FSRA in Abu Dhabi, while offering a custom risk management tool, AvaProtect.
Choose A Broker With A Broad Range Of Markets
The best brokers offer a wide selection of asset classes, allowing day traders to explore diverse opportunities.
Saudi day traders may prefer local markets, such as currency pairs containing the Saudi riyal (SAR) or prominent stocks listed on the Saudi Exchange (Tadawul), like Aramco and SABIC.
These aren’t widely offered by many brokers, but traders can explore other notable opportunities, including key export commodities like crude oil and gasoline, as well as global stocks and currencies.
- Pepperstone offers a great range of opportunities for Saudi traders, including 90+ major, minor and exotic currency pairs, hard and soft commodities including oil, plus a superb selection of ETFs with exposure to Saudi Arabian stocks, notably the iShares MSCI Emerging Markets ETF.
Choose A Broker With Competitive Day Trading Fees
Securing low fees is important for active day traders who make frequent daily transactions.
We examine key fees like spreads and commissions during our tests, as well as non-trading costs like deposits and withdrawals, plus charges for depositing funds in Saudi riyals.
We then judge these against the broker’s complete package, assessing whether any higher costs are justified. For example, you might get access to regional stock market analysis on Middle Eastern exchanges, or access to financial updates from the Saudi Central Bank.
- Alpari is a great choice if you’re looking for low fees, with ECN spreads from 0.0 pips on popular assets like EUR/USD and crude oil. You also get access to a powerful economic calendar where you can filter events by country, including Saudi Arabia.
Choose A Broker With Reliable Charting Tools
A choice of charting platforms allows you to explore various environments for technical analysis.
Most brokers we test offer the industry-pioneering terminals, MetaTrader 4 and MetaTrader 5, which offer excellent packages of charting tools and features to suit all short-term strategies and experience levels.
That said, I find the MetaTrader interfaces quite outdated and clunky and prefer the more seamless feel of TradingView.
Additionally, the integrated stock screener is a standout feature, allowing me to filter Saudi stocks and customize metrics to my preferences.
![TradingView integrated stock screener, showing Tadawul stocks](https://www.daytrading.com/wp-content/uploads/2024/06/Day-trading-platforms-Saudi-Arabia-TradingView.png)
- Exness remains a top pick for day traders of all experience levels, offering MT4, MT5 and a proprietary terminal powered by TradingView. It’s also one of the few brokers offering live accounts based in SAR for convenient local funding.
Choose A Broker With Reliable Order Execution
Fast-paced trading strategies depend on the speed and efficiency of the broker’s execution capabilities.
This will help to ensure trades are executed in optimum conditions, especially if you’re trading volatile Tadawul-listed stocks like SADAFCO, or crude oil.
We look into each broker’s order execution policies, preferably looking for speeds of less than 100 milliseconds. Where possible, we also examine latency (the measure of time delay) and slippage (the difference in price between order receipt and execution).
- IC Markets maintains its position as one of the fastest brokers in the industry, securing speeds of less than 13 milliseconds via superior connection technology. We also love using IC Insights, which lets you search and analyze stocks and cryptos with data provided by TipRanks.
Choose A Broker With Clear Leverage And Margin Requirements
If you’re day trading, you may well use leverage to maximize your potential profits. However, it’s important to understand your margin requirements upfront before you enter the trade.
Leverage allows you to increase the value of your trade while only depositing a small margin. While this can boost your potential gains, it can also cause significant losses, so risk management is crucial.
Let’s say I want to speculate on Aramco share CFDs using leverage of 1:5.If my initial margin is 950 SAR, my leveraged position would actually be worth 4,750 SAR (5 x 950 SAR).
- Deriv lets traders leverage up to 1:1000 on popular assets, though such high levels are not recommended for beginners. Instead, aspiring traders could explore the broker’s multipliers up to 30x where you cannot lose more than your initial stake.
Choose A Broker With Convenient Funding
To open a live account for day trading, you’ll need up to 250 USD (around 935 SAR), although most of the brokers we test require less than 100 USD (around 375 SAR).
It’s also advantageous to opt for a broker with locally supported payment methods, which can help reduce transfer fees and processing times. According to research by Medium, mobile payment solutions like Apple Pay are becoming increasingly prominent in Saudi Arabia.
- XM offers a very low $5 minimum deposit – ideal for those on a tighter budget. It also offers a range of convenient funding methods for Saudi traders, including Apple Pay.
FAQ
Who Regulates Day Trading Platforms In Saudi Arabia?
The Capital Market Authority regulates day trading platforms in Saudi Arabia. However, this body doesn’t actively oversee many brokers and local traders can also register with overseas firms, as long as they adhere to Saudi Central Bank regulations and tax rules from the Zakat, Tax and Customs Authority.
Which Is The Best Broker That Accepts Day Traders In Saudi Arabia?
See our list of the best day trading platforms in Saudi Arabia to find a suitable option.
Pepperstone, for example, offers ETFs with Saudi exposure alongside crude oil, whilst Exness is an excellent all-rounder with high-quality platforms and SAR accounts.
Article Sources
- Saudi Arabia Reducing Dependence on Oil - Reuters
- Saudi Exchange (Tadawul)
- Saudi Arabia Forex Trading Scam - Arab News
- Saudi Capital Market Authority
- Saudi Central Bank
- Saudi Arabian Oil Group (Aramc0) - Saudi Exchange
- Saudi Basic Industries Corporation (SABIC) - Saudi Exchange
- Saudia Dairy and Foodstuff Company (SADAFCO) - Saudi Exchange
- Mobile Wallets and Digital Payments in Saudi Arabia - Medium
- Zakat, Tax and Customs Authority
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