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:
-
1
Exness
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$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 -
2
OKX$10 in BTC
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 - 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.
- 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
| Broker | SAR Account | Minimum Deposit | Markets | Regulator |
|---|---|---|---|---|
|
|
✔ | $10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMV |
|
|
✔ | 10 USDT | Spot, futures, perpetual swaps, options | VARA |
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 is accessible for beginners with low minimum deposits from $10 and flexible payment methods
- There's excellent 24/7 multilingual customer support via telephone, email and live chat
- Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees
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
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
- You can access a wide range of trading products, including futures, options and perpetual swaps via a mobile app or desktop platform
- Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
- OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority
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 500-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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