Let’s get right to our findings (detailed analysis below):
- XTB: ideal for high leverage and Islamic accounts;
- Interactive Brokers: ideal for the widest range of currency pairs and advanced tools;
- Pepperstone: ideal for MT4, MT5, cTrader and copy trading;
- Fusion Markets: ideal for the lowest forex trading costs;
- Plus500: ideal for a simple platform and free deposits and withdrawals.
Before looking at each broker in detail, keep one thing in mind: none of these brokers holds a licence from Saudi Arabia’s Capital Market Authority (CMA). They serve Saudi residents through entities regulated abroad, so the protections you get depend on that entity, not on Saudi rules.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best forex brokers in Saudi Arabia for 2026 compared
| Broker | XTB | Interactive Brokers | Pepperstone | Fusion Markets | Plus500 |
| Currency pairs | 70+ | 100+ | 60+ | 75+ | 60+ |
| Maximum leverage | 1:500 | About 1:40 (varies by pair) | 1:200 (retail) | 1:500 | Varies by entity |
| Minimum deposit | $0 | $0 | $0 (AUD 200 recommended) | $0 | $100 |
| Forex costs | Spread only (from 0.9 pips on EUR/USD) | Interbank spread plus 0.08 to 0.20 basis points commission (min. $2 per order) | Standard: spread from about 1 pip. Razor: from 0.0 pips plus $3.50 per lot per side | Zero: from 0.0 pips plus $2.25 per lot per side. Classic: spread only | Spread only (variable) |
| Islamic account | Yes | No | Yes (swap-free account) | No | Yes |
| Withdrawal fees | Free from $50 | 1 free withdrawal per month | $0 from the broker | $0 on most methods | $0 |
Spreads and commissions as published by each broker, as of September 2026. Conditions depend on the account type and on the entity that serves you, and spreads widen during volatile or low-liquidity periods.
How forex brokers charge you
The spread is the difference between the buy (ask) and sell (bid) price of a currency pair. It is not fixed: it changes with the pair, liquidity and market events. Brokers charge for forex in one of two ways, or a mix of both:
- Spread-only accounts: no commission, but a wider spread (for example, XTB, Plus500, Pepperstone Standard or Fusion Classic);
- Raw spread plus commission: spreads close to the interbank market, plus a fixed commission per lot (for example, Pepperstone Razor, Fusion Zero or Interactive Brokers).
For frequent traders, raw spread accounts are usually cheaper overall. For occasional traders, the simplicity of a spread-only account may be worth the extra cost. Also check the overnight financing (swap) charges if you hold positions for days, or the admin fees that often replace swaps on Islamic accounts.
Top forex brokers in Saudi Arabia reviewed
#1 XTB
69-80% of retail CFD accounts lose money.
XTB is at the top of our list of the best forex brokers in Saudi Arabia. Founded in 2002 and listed on the Warsaw Stock Exchange, it is a global CFD broker known for its strong customer service. Saudi residents open their accounts with XTB International, which offers leverage of up to 1:500 on forex, no minimum deposit and commission-free forex trading, with spreads from 0.9 pips on EUR/USD.
XTB is also one of the few major brokers with an Islamic (swap-free) account for Saudi clients. It is available under XTB International to residents of Saudi Arabia and other Gulf, Middle East and North African countries, and you select “SWAP FREE” as the account type when you register.
XTB offers a dynamic trading experience through its own platform, xStation 5, available on desktop, web and mobile, with advanced charts and indicators. You can fund your account by bank transfer, credit or debit card, or e-wallets such as Skrill and Neteller.
XTB trading features
| Islamic account | Yes (XTB International) |
| Trading platforms | xStation 5 (desktop and web) and xStation mobile app |
| Limit orders | Yes |
| Stop loss & take profit orders | Yes |
| Negative balance protection | No |
| Guaranteed stop loss | No |
On the downside, XTB charges a fee on withdrawals below $50 (withdrawals from $50 are free) and a monthly inactivity fee after 12 months without activity. Keep in mind that high leverage also means high risk: small price moves can wipe out your deposit.
Read our XTB review for further insights.
#2 Interactive Brokers
Founded in 1978, Interactive Brokers is one of the largest international brokers, listed on the NASDAQ (ticker: IBKR) and regulated by many top-tier authorities. It ranks high on our list for its wide range of currency pairs, strong research tools and advanced trading platforms.
Interactive Brokers works differently from typical forex brokers. Instead of adding a markup to the spread, it gives you prices close to the interbank market and charges a small commission: between 0.08 and 0.20 basis points of the trade value on its tiered pricing, with a minimum of $2 per order. For larger trades, this is among the cheapest ways to trade forex. You can also trade real currencies, not just CFDs, which is useful if you want to convert money at a low cost.
You can hold several base currencies with no minimum deposit, but funding is mainly by bank transfer. Interactive Brokers does not charge an inactivity fee, and your first withdrawal each month is free.
Its desktop platform, Trader Workstation (TWS), is one of the most complete on the market, with advanced features and a high degree of customisation. It also offers IBKR Desktop, a web platform (Client Portal), the IBKR Mobile app and the simpler IBKR GlobalTrader app.
Interactive Brokers trading features
| Islamic account | No |
| Trading platforms | Trader Workstation (TWS), IBKR Desktop, Client Portal (web), IBKR Mobile and IBKR GlobalTrader |
| Limit orders | Yes |
| Stop loss & take profit orders | Yes |
| Negative balance protection | No |
| Guaranteed stop loss | No |
We recommend you check out our comprehensive Interactive Brokers review.
#3 Pepperstone
74-89% of retail CFD accounts lose money.
Founded in 2010 in Australia, Pepperstone is one of the best-known forex and CFD brokers in the world. Clients outside its main regulated markets, including many in the Middle East, are usually served by Pepperstone Markets Limited, licensed by the Securities Commission of The Bahamas. Retail leverage goes up to 1:200 with this entity, and professional clients can get up to 1:500.
Pepperstone offers two main account types. The Standard account has no commission, with spreads from about 1 pip. The Razor account, designed for active and algorithmic traders, offers spreads from 0.0 pips plus a commission of $3.50 per lot per side. It also offers a swap-free (Islamic) account, which replaces overnight interest with a fixed admin fee.
Pepperstone supports the most popular third-party platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader and TradingView, plus copy trading. There is no required minimum deposit, although Pepperstone recommends starting with around AUD 200.
Pepperstone trading features
| Islamic account | Yes (swap-free account) |
| Trading platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader and TradingView |
| Limit orders | Yes |
| Stop loss & take profit orders | Yes |
| Negative balance protection | Depends on the entity and client category |
| Guaranteed stop loss | No |
Negative balance protection means you can never lose more than the money in your account. Check whether it applies to your account before trading with leverage, especially if you are classified as a professional client.
#4 Fusion Markets
74-89% of retail CFD accounts lose money.
Founded in 2017, Fusion Markets is a forex and CFD broker with offices in Australia, Vanuatu and the Seychelles, accepting clients from most countries (exceptions include the US and New Zealand). It offers access to more than 250 products, including forex and CFDs on energy, precious metals, equity indices, US stocks and crypto.
Fusion Markets is known for its low costs. On the Zero account, spreads start from 0.0 pips and the commission is $2.25 per lot per side, or $4.50 per round-turn standard lot, one of the lowest in the industry. The Classic account has no separate commission, because the cost is built into a wider spread. There are no deposit fees, and most withdrawal methods are free.
Fusion Markets offers MetaTrader 4, MetaTrader 5 and cTrader on desktop, web and mobile. All give you customisable charts and technical indicators, and cTrader adds advanced market depth tools.
Fusion Markets trading features
| Islamic account | No |
| Trading platforms | MetaTrader 4, MetaTrader 5 and cTrader |
| Limit orders | Yes |
| Stop loss & take profit orders | Yes |
| Negative balance protection | Yes |
| Guaranteed stop loss | No |
We recommend you check out our comprehensive Fusion Markets review.
#5 Plus500
81% of retail CFD accounts lose money.
Founded in 2008 and listed on the London Stock Exchange, Plus500 is a well-known CFD broker with its own simple web platform and mobile app, giving you access to more than 60 currency pairs through CFDs. There are no commissions and no deposit or withdrawal fees: you pay through the spread, which is variable, plus overnight funding on positions held open.
Plus500 offers an Islamic account option for eligible clients in the Middle East. Maximum leverage depends on the Plus500 entity that serves you and is much higher outside the EU than the 1:30 limit that applies to European retail clients.
Its platform offers a good range of indicators and drawing tools, plus guaranteed stop orders on many instruments. You can open an account online and fund it by bank transfer, credit or debit card, or e-wallets such as PayPal and Skrill, with a minimum deposit of $100.
Plus500 trading features
| Islamic account | Yes (eligible clients) |
| Trading platforms | Plus500 WebTrader and Plus500 mobile app |
| Limit orders | Yes |
| Stop loss & take profit orders | Yes |
| Negative balance protection | Yes |
| Guaranteed stop loss | Yes |
On the downside, Plus500 offers little educational material and research compared with other brokers, and it does not support MetaTrader. It also charges a $10 monthly inactivity fee after three months without logging in, which is a shorter period than most brokers.
You can read our Plus500 review for further details.
This information is not relevant to EU residents, who are served by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limits and bonus restrictions.
What makes a good forex broker?
Whether you are a beginner or an experienced trader, these are the most important factors when choosing a forex broker:
- Regulation: the most important factor. Make sure the broker, and specifically the entity that will hold your account, is regulated by a recognised authority. We advise never choosing an unregulated broker, however attractive its conditions look.
- Costs: compare spreads, commissions and overnight financing or Islamic account fees on the pairs you actually trade.
- Leverage and risk controls: high leverage magnifies both gains and losses. Negative balance protection and guaranteed stops can limit your downside.
- Islamic account: if you need a swap-free account, check how the broker replaces swaps (admin fees, grace periods) and which instruments are eligible.
- Deposits and withdrawals: a good broker offers several convenient methods, such as bank transfer, cards and e-wallets, with low or no fees.
How to invest in the Saudi stock exchange (video summary)
Bottom line
Comparing trading conditions and finding the best forex broker in Saudi Arabia takes time, because there are many parameters to check. Our analysts did this work for you, and their results for the best forex brokers in Saudi Arabia are summarised below:
XTB
Ideal for high leverage and Islamic accountsInteractive Brokers
Ideal for the widest range of currency pairs and advanced toolsPepperstone
Ideal for MT4, MT5, cTrader and copy tradingFusion Markets
Ideal for the lowest forex trading costsPlus500
Ideal for a simple platform and free deposits and withdrawals
If you are unsure which broker fits your needs, try our BrokerMatch tool for a personalised recommendation. You can also use our comparison table for a detailed breakdown of the key features of global brokers, and read our reviews for more details about each broker.
We hope this article saves you time while researching the best forex brokers in Saudi Arabia. Do your own research before choosing, and consider starting with a demo account.
FAQs
Is forex trading legal in Saudi Arabia?
Yes, individuals in Saudi Arabia can trade currencies online. Financial markets in the Kingdom are overseen by the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA). Keep in mind that the international brokers in this article serve Saudi residents through entities regulated outside the Kingdom, so check which regulator supervises your account and which protections apply.
Are there forex brokers that offer Islamic accounts?
Yes. In this article, XTB, Pepperstone and Plus500 offer Islamic (swap-free) accounts to eligible clients. Swap-free does not always mean free: brokers usually replace overnight interest with a fixed admin fee after a grace period, so check the conditions before opening an account.
How to trade forex in Saudi Arabia?
First, open an account with a regulated forex broker. Then analyse the markets using fundamental or technical analysis, depending on your strategy, and place your trades in line with your analysis. We strongly recommend practising on a demo account first and using stop losses, since leveraged trading can lead to fast losses.
What is the minimum deposit for forex brokers in Saudi Arabia?
Most forex brokers let you open an account with $100 or less. In this article, XTB, Interactive Brokers, Pepperstone and Fusion Markets have no required minimum deposit, while Plus500 requires $100. With a very small deposit, however, your trade sizes will be small.
