SAR Forex Account
Compare regulated brokers that accept the Saudi riyal (SAR) as a base currency for their trading accounts.
By Stefan on 27/09/2023
Broker reviews
Exness is a global offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage.
- Risk warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MT4, MT5
- Regulators: BVI, Curaçao, Cyprus (EU) , Kenya, Mauritius, Seychelles, South Africa, UK
$100 | 1:500 | Market |
$3000 | 1:500 | Market |
$3000 | 1:500 | Market |
$3000 | 1:500 | Instant |
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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.
- 1. Saudi Central Bank. Finance and Exchange Rates. https://www.sama.gov.sa/en-US/FinExc/Pages/Currency.aspx
- 2. Bloomberg. (2022). Why Gulf Dollar Pegs Survive Through Wars, Oil Shocks. https://www.bloomberg.com/news/articles/2022-04-13/why-gulf-dollar-pegs-survive-through-wars-oil-shocks-quicktake
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- $3000 deposit
- 1:500 leverage
- 0.1 pips EUR/USD
- Regulators: BVI, Curaçao, Cyprus (EU) , Kenya, Mauritius, Seychelles, South Africa, UK