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.

Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).

• Likes
• Low and stable spreads.
• No swap charges across most FX pairs.
• Unlimited leverage on MetaTrader 4 and 5 (conditions apply).
• Withdrawals processed instantly in a wide range of currencies.
• Negative balance protection is available.

• 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

Once you start trading with Exness, you soon understand why this broker is trusted by over 500,000 active clients. We traded through its MT5 Standard account with spreads from just 0.3 pips. Most instruments have no swap charges at all, which makes it easy to estimate how profitable each trade could be.

You'll find a wide range of instruments through its platform. These include over 100 currency pairs, crypto, U.S. stocks, global indices and commodities. The gold and silver crosses against the euro, the British Pound and the Aussie dollar will appeal to gold bugs.

Its web trading platform, built around TradingView charts, is sleek. If you're into technical analysis, you'll be able to customise charts with over 100 indicators and save them for later. Visit Exness 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 Stéphane, 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.