Investors in Saudi Arabia have access to a wide variety of trading platforms – many of which support a combination of stocks, forex, crypto, and more.
In this comparison guide, we reveal the best trading platforms in Saudi Arabia for available markets, low fees, analysis tools, deposit methods, and other important metrics.
The 4 Best Trading Platforms in Saudi Arabia
Below is a list of the best trading platforms in Saudi Arabia for 2023.
- Evest – Overall Best Trading Platform in Saudi Arabia
- OKX – Most Popular Cryptocurrency Trading Platform for Low Fees
- XTB – Access 2,000+ Leveraged Financial Instruments
- Capital.com – 0% Commission CFD Trading Platform With Tight Spreads
Read on to discover our impartial reviews of the online trading platforms listed above.
Best Saudi Arabia Trading Platforms Reviewed
In the following sections, we review the five best trading platforms in Saudi Arabia for 2023.
In addition to payments, spreads, commissions, and supported markets – each review also covers trading tools and features, regulations, customer service, and account types.
1. Evest – Overall Trading Platform in Saudi Arabia
Evest is the best trading platform in Saudi Arabia for 2023. This online trading platform has it all – with more than 550+ financial instruments supported across several asset classes. This includes a fully-fledged stock trading suite that covers markets from multiple international exchanges.
In addition to US stocks, this includes markets in Japan, Germany, and others. Evest is also one of the best forex brokers in Saudi Arabia. Currency traders will have access to dozens of pairs, including majors, minors, and exotics. Evest also supports commodities. Hard metals are inclusive of gold, silver, aluminum, platinum, and more.
Energies like natural gas and oil (both WTI and Brent) can be traded too, alongside a great selection of agricultural products such as cocoa, corn, and wheat. Evest also supports indices trading across major indexes, alongside cryptocurrencies like Bitcoin, Dogecoin, Shiba Inu, Ethereum, and more. So if you’re interested in learning how to buy Dogecoin in Saudi Arabia, Evest is the place to start.
Not only is Evest the best trading platform in Saudi Arabia for supported markets, but this provider is also very competitive when it comes to fees. Saudi residents can get started without needing to pay any deposit fees. This includes debit/credit cards, bank wires, and an assortment of e-wallets.
Not only that, but all supported financial instruments on Evest can be traded on a 0% commission basis. Traders will need to cover the spread, which we found to be very competitive. For example, The spread on EUR/USD and EUR/JPY starts from just 0.8 pips and 1.5 pip respectively.
Spreads will, however, depend on the type of account that is opened with Evest. For example, the lowest spreads are offered on the diamond account, but this requires a minimum first-time deposit of $50,000 or more. The most basic account – silver, requires a minimum deposit of just $250 to get started.
Evest also offers Islamic accounts that enable traders to avoid overnight swap charges. There is also a demo account that enables traders to buy and sell assets in a completely risk-free environment. Evest offers its own native web trading platform alongside a mobile app for iOS and Android. There is also support for MetaTrader 5.
Read our comprehensive Evest review for a 360-degree overview of how this trading platform compares.
Supported Assets | CFDs via stocks, forex, commodities, indices, futures, crypto |
Pricing System | 0% commission. Spread-only trading. No deposit fees. $5 withdrawal fee. |
Min. Deposit | $250 |
Payment Types | Debit/credit cards, e-wallets, bank wires |
MT4/5? | MT5 |
Pros
Cons
2. OKX – Best Cryptocurrency Trading Platform for Low Fees
We found that OKX is one of the best cryptocurrency trading platforms in Saudi Arabia. This top-rated platform supports hundreds of cryptocurrencies, so not only can Saudis buy Bitcoin, but a full range of altcoins like Ethereum, Litecoin, and XRP.
When buying and selling cryptocurrencies at OKX, fees are industry-leading. For instance, commissions amount to 0.10% per slide but this is reduced when trading volumes increase throughout the month. In addition to conventional spot trading markets, OKX also offers complex cryptocurrency derivatives.
Not only does this include futures and perpetual swaps, but margin facilities. Regarding the latter, traders can enter buy and sell positions on leading cryptocurrencies with leverage of up to 5x. Derivative fees are also competitive, with traders never paying more than 0.05% per slide.
For complete beginners that are simply looking to gain exposure to cryptocurrency for the first time, OKX supports a vast selection of convenient payment types. This includes Visa, MasterCard, Apple Pay, and over 100+ other methods. Moreover, OKX accepts payments in Riyal, ensuring that traders can avoid unnecessary foreign exchange fees.
OKX is also one of the best trading platforms in Saudi Arabia for decentralized investing. The OKX DEX enables traders to buy and sell a long list of cryptocurrencies without needing to reveal their identity or even open an account. This will appeal to traders that wish to speculate on cryptocurrencies anonymously.
OKX is also popular with traders that wish to earn passive income on idle capital. The OKX Earn division not only includes fully-fledged savings accounts, but staking and dual investments, too. As of writing, APYs on Bitcoin, Ethereum, and Tether amount to 21%, 10.2%, and 10% respectively.
Supported Assets | Crypto spot trading, leveraged derivatives (including futures), decentralized trading |
Pricing System | From 0.1% commission when spot trading. Derivatives start from 0.05%. |
Min. Deposit | 38 SAR |
Payment Types | Debit/credit cards, e-wallets, bank wires |
MT4/5? | No |
Pros
Cons
3. XTB – Access 2,000 Leveraged Financial Instruments
XTB is one of the best CFD trading platforms in Saudi Arabia. All supported markets can be traded with leverage and both long and short orders are accepted when opening a position. more than 2,000 financial instruments are supported by XTB across the most traded asset classes globally.
For instance, Stocks and ETFs can be traded across multiple exchanges, including the US and the UK – on a commission-free basis. Spreads are very competitive, with Amazon stocks trading from just $0.33 per slide. Stocks and ETFs can be traded with leverage of up to 1:5.
XTB is also popular in Saudi Arabia for trading forex. 48 currency pairs are supported with EUR/USD spreads starting from just 0.6 pips. In addition to indices, XTB is also a great option for speculating on commodities. When trading gold, for example, XTB offers leverage of up to 1:20.
Another reason why XTB stands out as one of the best online trading platforms in Saudi Arabia is due to its native xStation 5 suite. This is a high-level trading platform that supports advanced charting tools and technical indicators. xStation 5 can also be downloaded as a mobile app and even desktop software.
We found that it rarely takes more than a few minutes to get set up with a verified XTB account. There is no minimum deposit and payments are processed instantly when opting for a debit/credit card or Skrill. While the former is processed fee-free, Skrill payments attract a charge of 2%.
Supported Assets | CFDs via stocks, ETFs, forex, commodities, indices, crypto |
Pricing System | No commissions are charged on any supported markets. Spreads vary depending on the financial instrument. No fees on deposits apart from Skrill (2%). |
Min. Deposit | No minimum |
Payment Types | Debit/credit cards, Skrill, bank wires |
MT4/5? | No |
Pros
Cons
82% of retail investor accounts lose money when trading CFDs with this provider.
4. Capital.com – 0% Commission CFD Trading Platform With Tight Spreads
Capital.com is also worth considering when exploring the best trading platforms in Saudi Arabia. This CFD-only platform supports many thousands of financial markets – all of which can be traded without paying any trading commissions. Moreover, Capital.com supports tight spreads and fee-free payments.
More than 120+ forex pairs can be traded here, with Capital.com particularly strong when it comes to exotic currencies. Over 140+ cryptocurrency pairs are supported too, alongside a good range of indices and commodities. Perhaps where Capital.com really stands out is its stock trading department.
Nearly 3,000 stocks are supported across over a dozen exchanges. This includes everything from the US and Switzerland to the UK, Hong Kong, and Norway. Capital.com enables retail clients to trade with leverage of all supported markets. Major forex pairs, for example, can be traded with leverage of up to 1:30.
We also found that Capital.com is perhaps the best trading platform in Saudi Arabia for news and analysis. In addition to market insights, Capital.com publishes real-time developments from major markets, not to mention educational tools and charting features. Capital.com supports MT4 in addition to its own native trading suite for web browsers and mobiles.
Supported Assets | CFDs via stocks, ETFs, forex, commodities, indices, crypto |
Pricing System | No commissions are charged on any supported markets. Spreads vary depending on the financial instrument. No fees on deposits or withdrawals. |
Min. Deposit | $20 (debit/credit cards and e-wallets) or $250 (bank wires) |
Payment Types | Debit/credit cards, e-wallets, bank wires |
MT4/5? | MT4 |
Pros
Cons
82% of retail investor accounts lose money when trading CFDs with this provider.
How we Select the Best Saudi Arabia Trading Platforms
We dedicated many labor-intensive hours to compile our list of the best trading platforms in Saudi Arabia.
Here’s a breakdown of our strict criteria:
Regulation
The best trading platforms in Saudi Arabia are regulated by at least one financial body.
This ensures that traders have access to legitimate and transparent trading conditions in a fair and licensed environment.
Range of Trading Markets
Some trading platforms in Saudi Arabia specialize in a specific asset class. For instance, OKX is the go-to platform for trading cryptocurrencies across spot markets and derivatives.
On the other hand, Evest is a multi-asset platform. This means that in addition to cryptocurrencies, Evest also offers access to stocks, forex, commodities, indices, and more.
Fees
All buy and sell positions will attract fees, so traders should be sure to understand what charges are applicable.
Evest offers 0% commission trading on all supported markets, alongside competitive spreads. OKX is also competitive, with spot trading commissions starting from just 0.1% per slide.
Traders should also assess deposit and withdrawal fees. Capital.com offers fee-free payments across all supported payment types.
Check out the table below, which highlights the core fees payable at the five trading platforms that we reviewed earlier:
Trading Platform | Trading Commission | Payment Fees | Account Fees |
Evest | 0% on all markets | No fees on deposits. $5 withdrawal fee. | None |
OKX | From 0.1% commission when spot trading. Derivatives start from 0.05%. | Depends on the payment type. | None |
XTB | 0% on all markets | No fees on debit/credit cards or bank wires. 2% fee when using Skrill. | None |
Capital.com | 0% on all markets | None | None |
Tools and Analysis Features
In order to speculate on the future direction of financial instruments successfully, traders will need to have access to technical and/or fundamental research tools.
All of the trading platforms discussed today offer high-level charting tools across many different timeframes. There is also support for technical and economic indicators. Evest and Capital.com also support MT5 and MT4 respectively.
For passive investors, some trading platforms offer a copy trading service. This enables traders to copy the positions of successful investors.
In terms of fundamental research, the best trading platforms in Saudi Arabia offer market insights, financial news, and real-time data.
Minimum Deposit
Some traders will only consider trading platforms that offer an affordable minimum deposit. At Evest, for instance, traders can get started with just $250.
If this is considered too high, Capital.com supports payments from just $20 (debit/credit cards and bank wires only).
Demo Accounts
We also found that the best trading platforms in Saudi Arabia offer a free demo account. This enables traders to practice their trading strategies without risking any money.
Not only does the Evest demo facility mirror live market data, but it comes preloaded with $25,000 in paper funds.
Islamic Trading Accounts
Some online trading platforms offer specialist Islamic accounts. This ensures that followers of the Islamic faith are not exposed to overnight fees, which is essentially an interest payment for keeping the position open overnight.
Evest offers Islamic accounts that are compatible with its own web trading suite, as well as MT5.
Mobile App
While most traders will enter positions on a desktop device, oftentimes, access to the financial markets is required when on the move. And as such, the best trading platforms in Saudi Arabia offer a mobile app that connects to the primary account.
Both iOS and Android apps are offered by the five platforms discussed today for seamless mobile trading.
Payment Methods
Before being able to trade online, a deposit will need to be made into the account of the chosen trading platform.
All of the platforms discussed today support instant deposits via a debit/credit card. Some platforms, including Evest also support e-wallets.
As noted above, fees might apply on certain payment types, so check this before proceeding with a deposit.
Customer Service
Customer service is offered in various formats, albeit, most traders in Saudi Arabia will prefer the live chat feature available at Evest.
Evest also offers a domestic telephone help center for Saudi traders.
Types of Trading Platforms in Saudi Arabia
Traders should consider what asset classes and markets they wish to access when researching the best trading platforms in Saudi Arabia.
Here’s a breakdown of what’s available in the online trading space:
Stock Trading Platforms
The best stock trading platforms in Saudi Arabia support exchanges in various regions.
In addition to popular US-based stocks like Apple, Amazon, and Microsoft, platforms like Evest also offer access to markets in Europe and Asia.
This ensures that traders in Saudi Arabia can build a diversified portfolio of stocks from the comfort of home.
Forex Trading Platforms
Forex trading is also a popular investment scene in Saudi Arabia. Apart from OKX, all of the trading platforms reviewed on this page support dozens of currency pairs across the majors, minors, and exotics.
Major forex pairs, in particular, typically allow traders to enter buy and sell positions with leverage of up to 1:30. The best forex trading platforms in Saudi Arabia offer tight spreads and low or even zero commissions.
Crypto Trading Platforms
One of the best trading platforms for speculating on cryptocurrencies like Bitcoin and Ethereum is OKX. For complete beginners, OKX supports instant cryptocurrency purchases with a debit/credit card, which includes support for SAR payments.
More advanced traders will find OKX suitable for high-level technical analysis, not to mention accessing cryptocurrency derivatives like futures, options, and swaps.
CFD Trading Platforms
Contracts-for-differences (CFDs) are financial instruments that enable traders to speculate on assets without owning anything. CFDs not only invite long and short positions, but leverage too.
Evest supports hundreds of leveraged CFDs across stocks, commodities, cryptocurrencies, forex, and more – all on a commission-free basis.
Just remember that when trading CFDs online, swap fees will be charged when the position is kept open overnight or across the weekend.
MetaTrader Platforms
MetaTrader is a popular third-party trading platform that is supported by many online brokers.
The best MT5 trading platform in Saudi Arabia is Evest. Those that prefer the MT4 trading platform will find this available at Capital.com.
Are Trading Platforms Legal in Saudi Arabia?
Put simply – trading online in Saudi Arabia is perfectly legal. Whether it’s stocks, commodities, forex, and more – traders in Saudi Arabia have access to a full suite of financial products.
There is no requirement for the chosen trading platform to be authorized by the Capital Market Authority (CMA) either.
With that said, traders should ensure that their preferred platform is regulated by a reputable body – whether that’s within or outside of Saudi Arabia.
Conclusion
The best trading platforms in Saudi Arabia for 2023 have been reviewed and ranked in this comparison guide.
Overall – in terms of low fees, supported markets, charting tools, and other core metrics – we found that Evest stands out from the crowd.
At Evest, traders can access leveraged stocks, forex, crypto, indices, and more without paying any commissions. Spreads are competitive and trading is supported via web browsers, a mobile app, and MT5.
The minimum deposit at Evest is just $250 albeit this top-rated trading platform also offers a free demo account.