Forex Brokers Licensed by SAMA
Young traders across the Gulf keep asking the same question: which trading companies are actually licensed by SAMA, the Saudi central bank? Interest in currency and stock trading has grown fast among Arab traders, and with it, a search for brokers that are properly licensed and trustworthy. For how it compares with other brokers, see the full broker comparison.
So it’s common to hear the question phrased almost exactly that way among traders in the Middle East: who are the SAMA-licensed trading companies?
Here’s the catch. SAMA is not actually the authority responsible for approving trading and brokerage firms in Saudi Arabia.
The Kingdom has several financial oversight bodies, the main ones being the Capital Market Authority (CMA), SAMA, and the Ministry of Commerce and Investment. Each has a distinct, separate mandate.
If you want to understand exactly which firms SAMA licenses, and who really regulates forex brokers in Saudi Arabia, keep reading.
What Is SAMA?
SAMA is the Saudi central bank, previously known as the Saudi Arabian Monetary Agency.
Even though the official name changed to the Saudi Central Bank, the old name is still widely used across the Kingdom today.
It was founded in 1952 and is known by the acronym SAMA, short for Saudi Arabian Monetary Authority, the Kingdom’s central bank.
It’s also considered one of the most rigorous and professional regulators in the Gulf banking sector, and it was named best risk manager among central banks for 2018 and 2019 by the Central Banking committee.
SAMA’s founding dates back to the early 1950s, making it the top financial authority in Saudi Arabia.
The Saudi central bank has a number of core functions, including:
- Issuing and managing the national currency, the Saudi riyal
- Setting and implementing monetary policy and maintaining the Kingdom’s financial stability
- Regulating and supervising the financial sector
- Managing the Kingdom’s foreign currency reserves
- Building and securing modern payment systems
- Providing banking services to the government
- Collecting and publishing financial and monetary data
- Conducting economic analysis and research
Read also: what is the best indicator for forex trading?
Which Companies Are Licensed by SAMA in 2026?
SAMA, the Saudi central bank, licenses a range of companies, mostly finance and fintech firms, including the following:
STC Pay (Saudi Digital Payments Company): one of the firms licensed by SAMA, this is a digital payments network under STC that helps individuals access new, modern experiences across tech services.
Loop: known as the “digital fintech payments company,” Loop is one of the firms SAMA has licensed in 2026. It lets people manage money through secure, cashless digital payments and send money from a phone to family or friends anywhere.
Saudi Financial Technology Company: another firm licensed in Saudi Arabia by SAMA in 2026. It lets users top up balances via a Mada card or credit card, transfer to any bank account inside or outside Saudi Arabia using an IBAN, and shop online.
Who Actually Licenses Forex Brokers in Saudi Arabia?
Earlier in this article, we noted that several financial oversight bodies exist, each with its own defined role.
As online trading grew and spread, the Kingdom needed a specific authority to regulate the sector and license the trading firms that have multiplied in recent years, so that job went to the Capital Market Authority (CMA).
One of the most common misconceptions right now is the belief that the CMA is itself an online trading service provider.
It isn’t. The CMA is purely a supervisory body. It regulates trading in the Kingdom by issuing laws, instructions, and regulations to govern how financial firms in this sector operate.
The Authority also aims to maintain a general climate that delivers trust, fairness, and efficiency for everyone operating within that system.
The CMA’s role in Saudi Arabia isn’t limited to oversight either. It also plays a central part in raising the standard for traders based in Saudi Arabia, and it takes the steps needed to guarantee fair opportunities and safe investing in the financial market.
Worth noting: the CMA launched its “Investor Awareness” program in 2006, rolling out a large, varied set of educational materials on its official website.
Locally Licensed Trading Companies in Saudi Arabia
Because of the many conditions imposed by the laws and regulations governing Saudi Arabia’s capital markets, the number of companies licensed by the CMA is relatively small, especially compared with the number of firms holding licenses from financial regulators elsewhere in the world.
In practice, this means most CMA-licensed trading companies are Saudi entities, whether their activity is limited to trading services, financial services, or something else.
On top of that, these companies carry a number of shortcomings, the main ones being:
- Most of these firms aren’t trading companies at their core; they offer trading as an add-on to their main business, which is usually banking.
- These firms require traders to hold an investment account at specific banks, which restricts traders’ options for depositing and transferring money into trading accounts.
- Their activity is limited to Saudi nationals or residents inside the Kingdom, which makes trading difficult while traveling abroad and can force a trader to liquidate their own account.
Globally Licensed Trading Platforms Available in Saudi Arabia
Despite the small number of locally licensed trading companies in Saudi Arabia, plenty of global trading platforms remain the most popular choice among traders based in the Kingdom.
These platforms are considered fully safe and reliable because they operate under European regulatory bodies whose licenses carry international standing, one example being the UK’s Financial Conduct Authority (FCA).
The “Binance” Platform
Binance is one of the strongest and most well-known crypto platforms across Saudi Arabia and the wider Arab world.
The platform lists a large number of currencies, along with newer, widely traded cryptocurrencies.
Its standout features include ease of use, strong security and reliability, low fees on currencies, and support for several languages, including Arabic.
The FXTM Platform
The platform was founded in 2011 and is headquartered in Cyprus.
It has attracted more than 2 million clients from 150 countries worldwide since launch, and it specializes in leveraged trading.
It gives traders daily market analysis reports, plus technical tools to help gauge market sentiment, alongside webinars, training sessions, and a trading-strategy guide.
The platform positions itself as able to help traders pursue gains whether global stock markets rise or fall, across forex, indices, commodities, and cryptocurrencies.
The IC Markets Platform
This is an online trading brokerage founded in 2007 in Sydney, Australia.
The platform is licensed by the Australian Securities and Investments Commission.
It offers clients a wide range of trading instruments and assets, roughly 80 in total, including currency pairs and CFDs on indices, stocks, commodities, futures, precious metals, and even cryptocurrencies.
The company says its goal is to close the gap between the tools available to individual traders and those available to large institutions, creating an ideal trading environment.
It offers clients deposit options in ten different currencies: AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF.
The platform has calculation tools, analytics, and advanced charting, plus a wide range of technical indicators used in technical analysis.
The XM Platform
Founded in 2009 in Cyprus, this platform specializes in online brokerage and trading.
It operates across forex, stock CFDs, futures, indices, metals, and energy.
The platform has attracted more than 3.5 million clients worldwide and employs around 450 staff with deep expertise in the financial sector.
The company holds licenses from several global regulators, most notably the Cyprus Securities and Exchange Commission, the Australian Securities and Investments Commission, and the Dubai Financial Services Authority.
It gives traders access to global stocks, foreign currencies, precious metals, investment funds, and various commodities.
The platform also has an Islamic trading account for traders who want to follow Sharia-compliant trading, letting them trade without interest or commission or fees, with a minimum deposit of around $5.
To close out, our advice is to look for the best globally licensed trading platforms available in Saudi Arabia, ones that let you trade currencies safely, away from unlicensed platforms that may scam traders. You should also consult a specialist before you start trading currencies, given how risky it can be due to price volatility.
Frequently Asked Questions
Which companies work with SAMA?
You can check the full list of companies working with SAMA, the Saudi central bank, on the central bank’s own website.
How do I know if a company is a scam or not?
To find out if a company is a scam or properly licensed, you need to examine and vet the company and verify its credibility. You can do this by checking commercial registrations, licenses, and certifications, along with financial sources, and by looking up reviews from past users and checking financial reports and news coverage about the company.
How do I know a company is licensed?
You can check via the website of the relevant regulatory authority, which lets you verify a company’s licenses through its official site.
How do I know a company is licensed in Saudi Arabia?
For trading companies in the Saudi market, you can confirm a firm’s license through the Capital Market Authority (CMA). As for forex brokers specifically, there’s no license issued by Saudi Arabia for forex firms; instead, check for licenses from international regulators such as the UK’s Financial Conduct Authority (FCA) and others.
Disclaimer: This article is for educational purposes only and is not investment or financial advice. Trading forex and CFDs involves significant risk, and leverage can amplify both gains and losses; a large share of retail investor accounts lose money when trading these instruments. Regulatory status varies by broker and jurisdiction, and you should independently verify any firm’s license before depositing funds. This page may contain affiliate links, meaning Easy Trade may earn a commission if you sign up with a broker through one of these links, at no extra cost to you. Always do your own research and consult a licensed financial advisor before making investment decisions.