Best Day Trading Platforms and Brokers in Saudi Arabia 2024

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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.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
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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:

Click a broker for details
  1. 1
    XTB
    78% of retail accounts lose money.

    Ratings
    4.5 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4 / 5
    4.3 / 5
    4.1 / 5
    3.8 / 5
    4.7 / 5
    4.1 / 5

    $0
    0.01 Lots
    1:30 (EU) 1:500 (Global)
    FCA, CySEC, KNF, CNMV, DFSA, FSC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs
    xStation
    PayPal, Visa, Mastercard, Wire Transfer, Paysafecard, Skrill, Credit Card, Debit Card, Maestro, Neteller
    USD, EUR, GBP, HUF
  2. 2
    Alpari
    30% up to $100 (terms apply)

    Ratings
    2.5 / 5
    3.8 / 5
    3.3 / 5
    3.8 / 5
    3.8 / 5
    2.8 / 5
    2.5 / 5
    1.5 / 5
    3.6 / 5
    3.6 / 5

    $5
    0.01 Lots
    1:1000
    FSC, SEBI, JFSA
    Forex, CFDs, Stocks, Commodities, Indices, Crypto
    MT4, MT5
    Mastercard, Credit Card, FasaPay, Volet, Wire Transfer, Bitcoin Payments, Ethereum Payments
    USD, EUR, GBP, CZK, NGN
  3. 3
    AvaTrade
    20% Welcome Bonus up to $10,000

    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5

    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
  4. 4
    Deriv.com

    Ratings
    3.5 / 5
    4.5 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4.1 / 5
    2.5 / 5
    3 / 5
    4.2 / 5
    4.5 / 5

    $5
    0.01 Lots
    1:1000
    MFSA, LFSA, VFSC, BFSC
    CFDs, Multipliers, Forex, Stocks, Indices, Commodities
    Deriv Trader, MT5
    Neteller, 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, JetonCash
    USD, EUR, GBP, AUD
  5. 5
    Exness

    Ratings
    4.5 / 5
    4.3 / 5
    4.2 / 5
    4.8 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5

    $10
    0.01 Lots
    1:2000
    FSA, CySEC, FCA, FSCA, FSC, CBCS
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Exness Trade App, MT4, MT5, TradingCentral
    Wire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto
    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
  6. 6
    Pepperstone
    CFDs 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
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
  7. 7
    IC Markets

    Ratings
    4.6 / 5
    4 / 5
    3.5 / 5
    4.6 / 5
    4 / 5
    4.5 / 5
    4 / 5
    3.5 / 5
    3.1 / 5
    4.2 / 5

    $200
    0.01 Lots
    1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
    ASIC, CySEC, FSA, CMA
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
    MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
    PayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeCharge
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
  8. 8
    XM
    $30 No Deposit Bonus When You Register A Real Account

    Ratings
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.5 / 5
    4.7 / 5
    3.9 / 5

    $5
    0.01 Lots
    1:1000
    ASIC, CySEC, DFSA, FSC, FSCA
    Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
    MT4, MT5
    Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF
  9. 9
    Eightcap

    Ratings
    4.3 / 5
    4 / 5
    3.6 / 5
    3.8 / 5
    4.3 / 5
    4 / 5
    3.5 / 5
    3 / 5
    4.8 / 5
    4.4 / 5

    $100
    0.01 Lots
    1:500
    ASIC, FCA, CySEC, SCB
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    MT4, MT5, TradingView
    Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX Payment
    USD, EUR, GBP, CAD, AUD, NZD, SGD
  10. 10
    DNA Markets

    Ratings
    3 / 5
    4 / 5
    4 / 5
    3.9 / 5
    3.5 / 5
    3.6 / 5
    1.8 / 5
    1.6 / 5
    4.8 / 5
    4.4 / 5

    $100
    0.01 Lots
    1:500
    ASIC
    CFDs, Forex, Indices, Commodities, Stocks, Crypto
    MT4, MT5
    Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard
    USD, EUR, GBP, CAD, AUD, NZD, SGD

Here is a summary of why we recommend these brokers:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  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.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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

Best Day Trading Platforms and Brokers in Saudi Arabia 2024 Comparison
Broker Minimum Deposit Markets Platforms Leverage
XTB logo $0 CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs xStation 1:30 (EU) 1:500 (Global)
Alpari logo $5 Forex, CFDs, Stocks, Commodities, Indices, Crypto MT4, MT5 1:1000
AvaTrade logo $100 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade 1:30 (Retail) 1:400 (Pro)
Deriv.com logo $5 CFDs, Multipliers, Forex, Stocks, Indices, Commodities Deriv Trader, MT5 1:1000
Exness logo $10 CFDs, Forex, Stocks, Indices, Commodities, Crypto Exness Trade App, MT4, MT5, TradingCentral 1:2000
Pepperstone logo $0 CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade 1:30 (Retail), 1:500 (Pro)
IC Markets logo $200 CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
XM logo $5 Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures MT4, MT5 1:1000
Eightcap logo $100 CFDs, Forex, Stocks, Indices, Commodities, Crypto MT4, MT5, TradingView 1:500
DNA Markets logo $100 CFDs, Forex, Indices, Commodities, Stocks, Crypto MT4, MT5 1:500

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 AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs
RegulatorFCA, CySEC, KNF, CNMV, DFSA, FSC
PlatformsxStation
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (EU) 1:500 (Global)
Account CurrenciesUSD, EUR, GBP, HUF

Pros

  • With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels.
  • 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.
  • XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring day traders have quick access to their funds.

Cons

  • The demo account expires after just four weeks, a serious limitation for traders who wish to thoroughly test the xStation platform and practice short-term strategies before committing real funds.
  • Trading fees are competitive with average spreads of around 1 pip on the EUR/USD but still trail the cheapest brokers like IC Markets, plus there's an inactivity fee after 12 months.
  • 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."

Christian Harris, Reviewer

Alpari Quick Facts

Bonus Offer30% up to $100 (terms apply)
Demo AccountYes
InstrumentsForex, CFDs, Stocks, Commodities, Indices, Crypto
RegulatorFSC, SEBI, JFSA
PlatformsMT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, CZK, NGN

Pros

  • Low or no commissions are available and there are tight spreads on ECN accounts
  • Cashback schemes are available for high-volume traders
  • Copy trading and PAMM services are also available for day traders

Cons

  • The lack of educational resources is disappointing compared to alternatives
  • The market analysis and research tools are limited
  • There are fairly high charges for strategy manager copy trading tools

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 Offer20% Welcome Bonus up to $10,000
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
RegulatorASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail) 1:400 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Pros

  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing
  • Day traders can access stable spreads and zero commissions with no hidden fees

Cons

  • Traders from the US are not accepted
  • There is no ECN account with raw spreads
  • It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here

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 AccountYes
InstrumentsCFDs, Multipliers, Forex, Stocks, Indices, Commodities
RegulatorMFSA, LFSA, VFSC, BFSC
PlatformsDeriv Trader, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, AUD

Pros

  • Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
  • There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
  • The free demo account is ideal for practicing short-term trading strategies and no registration is required

Cons

  • The range of 100+ assets trails some competitors such as Quotex which offers 400+
  • There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
  • There's no loyalty program or rebate scheme for high volume traders

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."

Rebecca Holden, Reviewer

Exness Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorFSA, CySEC, FCA, FSCA, FSC, CBCS
PlatformsExness Trade App, MT4, MT5, TradingCentral
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:2000
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

Pros

  • Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees
  • The broker is accessible for beginners with low minimum deposits from $10 and flexible payment methods
  • Top-tier licensing with the FCA and CySEC and a strong reputation with over 10 years in business

Cons

  • There are no promotional deals or loyalty schemes for high-volume day traders
  • Unlike most competitors, Exness doesn't provide its own education section
  • There are several regional restrictions for retail traders including the USA, Europe and the UK

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 AccountYes
InstrumentsCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
RegulatorFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.

Cons

  • 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.
  • There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
  • 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 AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
RegulatorASIC, CySEC, FSA, CMA
PlatformsMT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Minimum Deposit$200
Minimum Trade0.01 Lots
Leverage1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.

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.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

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 AccountYes
InstrumentsForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
RegulatorASIC, CySEC, DFSA, FSC, FSCA
PlatformsMT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

Pros

  • Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
  • 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

Cons

  • PayPal deposits are not supported
  • There is weak regulatory oversight through the global entity
  • There's $5 inactivity fee after only 3 months, though this won't affect active traders

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 AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorASIC, FCA, CySEC, SCB
PlatformsMT4, MT5, TradingView
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
  • 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.
  • 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.

Cons

  • 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.
  • 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.

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 AccountYes
InstrumentsCFDs, Forex, Indices, Commodities, Stocks, Crypto
RegulatorASIC
PlatformsMT4, MT5
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, 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)
  • The broker provides 24/5 customer support with response times of <2 minutes during testing

Cons

  • Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
  • Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
  • Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go

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.

DayTrading.com broker testing methodology overview

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.

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Choose a broker with a ‘Green Tier’ license to ensure you receive the strongest safeguards, such as negative balance protection.
  • 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.

Infographic showing popular day trading markets in Saudi Arabia

  • 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.

author image
Jemma Grist
Author
TradingView integrated stock screener, showing Tadawul stocks
TradingView Stock Screener Showing Saudi Arabian Oil
  • 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).

author image
Jemma Grist
Author
  • 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.

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Brokers with SAR accounts allow you to fund your account in your native currency, helping to avoid conversion fees and streamlining the day trading experience.
  • 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

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com