Brokers With SAR Accounts
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:
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1Exness
Ratings
$100.01 Lots1:UnlimitedCySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSCCFDs, Forex, Stocks, Indices, Commodities, CryptoExness Trade App, Exness Terminal, MT4, MT5, TradingCentralWire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto, Airtel, Debit Card, Neteller, Skrill, Perfect Money, Sticpay, AstroPay, Cashu, FasaPay, WebMoney, M-PesaUSD, 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 -
2OKX$10 in BTC
Ratings
10 USDTVariableVARASpot, futures, perpetual swaps, optionsAlgoTraderWire Transfer, PayPal, Credit Card, Mastercard, Visa, Bitcoin Payments, Google Wallet, Banxa, Apple Pay, Simplex, Ethereum PaymentsUSD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR
Here is a summary of why we recommend these brokers:
- 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.
- 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
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 Account | Yes |
---|---|
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
Regulator | CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC |
Platforms | Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral |
Minimum Deposit | $10 |
Minimum Trade | 0.01 Lots |
Leverage | 1:Unlimited |
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, KRW, MXN, KES, CNY |
Pros
- Exness Terminal offers a streamlined experience for beginners with dynamic charts while setting up watchlists is a breeze.
- Excellent range of account types for all experience levels, including Cent, Pro plus the introduction of Raw Spread, ideal for day traders.
- Fast and dependable 24/7 multilingual customer support via telephone, email and live chat based on hands-on tests.
Cons
- MetaTrader 4 and 5 are supported, but TradingView and cTrader still aren’t despite rising demand from active traders and integration at alternatives like Pepperstone.
- 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
- 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.
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 Account | Yes |
Instruments | Spot, futures, perpetual swaps, options |
Regulator | VARA |
Platforms | AlgoTrader |
Minimum Deposit | 10 USDT |
Minimum Trade | Variable |
Account Currencies | USD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR |
Pros
- Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
- Traders can access historical market data for spot and futures combining OHLC data, aggregate trades and trading history
- Crypto staking and pools are available with competitive mining fees from 2%
Cons
- The quality of customer support was inconsistent based on testing
- The broker's platform and features may be complex for novices
- The firm offers limited regulatory oversight, though this is common among crypto brokers
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:
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:
- Navigate to the account types page on the broker’s website to find the selection of base currencies.
- Check that ‘SAR’ is available as a supported currency in Saudi Arabia.
- Register for an account and choose ‘SAR’ as your base currency.
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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