SAR Forex Account

4.3 / 5

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Trading in CFDs carries a high level of risk thus may not be appropriate for all investors.

Trade CFDs on 200 instruments, spanning currencies, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with flexible leverage. Exness.com is an offshore broker with over 1 million active clients.

• Likes
• CFDs on 96 Forex pairs.
• Swap-free trading is available across most instruments.
• Wide range of trading conditions, including raw spreads.
• Instant withdrawals in a wide range of currencies.
• Customer support available on a 24/7 basis.

• Dislikes
• No access to a compensation fund in the event of bankruptcy.
• No CFDs on agricultural commodities, ETFs or government bonds.

Our take on Exness

Exness is a broker you should consider if you're looking for a wide selection of currency pairs. Trade CFDs on over 90 pairs with flexible leverage, as well as the US Dollar Index. Most instruments are available to trade swap-free.

Exness also provides a wide range of trading conditions that will appeal to beginners and more experienced traders alike. Open a Standard account from a low $10 deposit to trade without commission, or opt for a zero-spread account for even lower fees.

Exness uses MetaTrader 4 and 5, as well as a web trading platform built around TradingView charts. If you're into technical analysis, you'll be able to customise charts with over 100 indicators and save them for later. Visit Exness.com to create an account and see for yourself what this broker has to offer.

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Brokers that accept SAR

Exness

If you live in Saudi Arabia, you can fund your SAR trading account with Exness.com through Skrill, Neteller or Sticpay in riyal. Skrill charges no fees on SAR deposits made from a local bank, and only minimal fees on withdrawals. You may also fund your Exness account with Visa or Mastercard. However, all card deposits are transacted in USD or EUR, and will incur foreign exchange fees if you fund in a different currency.

Exness charges no fees for deposits or withdrawals, but you will need a verified trading account to get started. Withdrawals are processed in seconds with no manual processing, including on weekends. Visit Exness.com to fund your account now.

About the Saudi Riyal

The Saudi Riyal, abbreviated as SAR, is the official currency of the Kingdom of Saudi Arabia. The currency was introduced in 1928, in replacement of the Ottoman Majidi silver Riyal, in use at the time.

Since June 1986, Saudi Arabia has maintained a fixed peg against the US Dollar, at a rate of 3.75 SAR for 1 USD⁽¹⁾. Its exchange rate policy mirrors that of other Gulf countries, that have run currency pegs or managed foreign-exchange regimes vis-à-vis the US Dollar since the 1970s⁽²⁾.

Speculation about the Kingdom's ability to maintain the peg occurs sporadically, usually when the price of oil is low and its foreign exchange reserves have fallen. However, the Central Bank of Saudi Arabia has been steadfast in its decade-long commitment to the peg, and has intervened sporadically to stem speculation in the spot and forward foreign exchange market when necessary.

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About the author

I'm Stefan, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.