Every other category in this guide covers platforms that, in one form or another, give you access to international markets, US and European stocks, global ETFs, regional MENA exchanges accessed from outside their home country. This category is different, and it's the one we'd consider essential reading for anyone living in Saudi Arabia specifically. None of the global brokers covered elsewhere in this guide, not Interactive Brokers, not Saxo, not XTB, give you direct access to Tadawul, the Saudi Exchange. If you want to own shares in Saudi Aramco, Al Rajhi Bank, SABIC, STC, or any of the other companies that make up the Tadawul All Share Index, you need a CMA-regulated Saudi brokerage account. The four platforms covered here are the ones we'd point a Saudi-resident reader toward, and the good news is that all four now bundle commission-free or low-cost US stock access alongside Tadawul, so for many residents one of these accounts can realistically serve as their primary brokerage.
The four platforms split naturally into two groups. Derayah and Sahm Capital are standalone digital brokers: fully online onboarding via Absher and Nafath verification, no requirement to already bank with a particular institution, and fintech-style apps built around speed and simplicity. Al Rajhi Capital and SNB Capital are bank-affiliated brokerages, the brokerage arms of Al Rajhi Bank and the Saudi National Bank respectively, and they're at their best for customers who already hold an account with that bank and want a tightly-integrated experience between their banking and their investing. Neither group is objectively better; the right choice depends largely on whether you already have an existing banking relationship you'd like to build on.
How the four compare at a glance
All four are CMA-regulated and give you direct Tadawul access. The differences that matter most are whether you need an existing bank relationship, what (if anything) you pay to trade, and how each platform handles US stock access alongside Saudi equities.
| Platform | Regulation | Active in | Min. deposit | Core fees | Best for | Rating |
|---|---|---|---|---|---|---|
 Derayah Financial |
CMA (Saudi Arabia) | Saudi Arabia | No minimum for standard accounts | Zero commission on Saudi and US stock trades (standard packages) | Tadawul + US stocks in one app, no bank needed | ★★★★★★★★★★ |
 Al Rajhi Capital |
CMA (Saudi Arabia) | Saudi Arabia | Linked Al Rajhi Bank account required | Standard Tadawul brokerage commissions; varies by package | Existing Al Rajhi Bank customers | ★★★★★★★★★★ |
 SNB Capital |
CMA (Saudi Arabia) | Saudi Arabia | Linked SNB account required | Standard Tadawul brokerage commissions; varies by package | SNB customers and Tadawul IPO access | ★★★★★★★★★★ |
 Sahm Capital |
CMA (Saudi Arabia) | Saudi Arabia | Low / no minimum, fully digital onboarding | Competitive commissions on Saudi and US stocks; check current schedule | Fastest digital onboarding for Saudi + US | ★★★★★★★★★★ |
The four platforms, reviewed in depth
Derayah Financial
Regulation: CMA (Saudi Arabia) Active in: Saudi Arabia Rating: ★★★★★★★★★★ (4.5/5)
At a glance
| What works well | Where it falls short |
|---|---|
| ✓ Zero commission on both Tadawul and US stock trades, no minimum deposit | ✗ Standalone fintech - no integrated banking relationship like bank-affiliated brokers |
| ✓ Fully digital onboarding via Absher/Nafath, no bank relationship required | ✗ Newer entrant pricing can shift, worth checking current schedule vs. Sahm Capital |
| ✓ Broadest product range: Sharia-compliant margin financing and managed funds |
Derayah Financial is, in our assessment, the strongest single starting point for the majority of Saudi-based investors reading this guide, and it's the only platform across this entire category to earn a 4.5-star rating. It is Saudi Arabia's largest independent digital investment platform, CMA-regulated, and built from the ground up around the two things a Saudi resident is most likely to want from a single account: direct, real-time Tadawul access for trading Saudi equities, and zero-commission US stock trading for international diversification, both inside one fully digital account that doesn't require a pre-existing relationship with any particular bank.
Account opening is entirely online, verified through Absher (Saudi Arabia's national digital identity platform) and Nafath authentication, which typically means an account can be opened and funded within a single sitting, without branch visits or paper forms. For a generation of Saudi investors who have grown up with mobile-first banking and government services, this onboarding experience feels native in a way that some of the bank-affiliated alternatives, built on older infrastructure, sometimes don't.
What pushes Derayah above the other three platforms in this category for us is breadth beyond pure brokerage. Alongside Tadawul and US stock trading, Derayah offers Sharia-compliant margin financing (allowing investors to borrow against their portfolio under Islamic finance structures rather than conventional interest-based margin) and asset management products, including investment funds managed by Derayah's own asset management arm. For an investor who wants a single relationship that can grow with them, from a first Tadawul trade to a more sophisticated portfolio including managed funds and financing, Derayah offers more runway than the bank-linked alternatives, without requiring the underlying bank relationship those alternatives demand.
The honest caveat: Derayah is a standalone fintech, not a bank. If the comfort of dealing with the brokerage arm of a bank you already use heavily, with seamless transfers and a single combined app for banking and investing, matters more to you than Derayah's broader product range, Al Rajhi Capital or SNB Capital (below) may feel more familiar day to day.
Derayah Financial suits Saudi-based investors who:
Want Tadawul and US stocks in a single zero-commission account
Don't want to be tied to a specific bank's brokerage arm
Value fast, fully digital onboarding via Absher/Nafath
Are interested in Sharia-compliant financing or managed funds alongside self-directed trading
Read our full review | Open an account
Al Rajhi Capital
Regulation: CMA (Saudi Arabia) Active in: Saudi Arabia Rating: ★★★★★★★★★★ (4/5)
At a glance
| What works well | Where it falls short |
|---|---|
| ✓ Tightly integrated with Al Rajhi Bank's existing online/mobile banking app | ✗ Requires a linked Al Rajhi Bank account - not viable without that relationship |
| ✓ High Tadawul trading volumes from one of the world's largest Islamic banks | ✗ Standard commission-based pricing rather than zero-commission fintech rates |
| ✓ Sharia compliance is the default across the bank's fund and product range |
Al Rajhi Capital is the brokerage arm of Al Rajhi Bank, one of the largest banks in Saudi Arabia and one of the largest Islamic banks in the world, and it consistently ranks among the highest-volume brokers on Tadawul. For the very large number of Saudi residents who already hold an Al Rajhi Bank account, whether for salary deposits, everyday banking, or savings, opening an Al Rajhi Capital brokerage account is typically fast and tightly integrated with the same online and mobile banking app you're already using, often requiring little more than activating the brokerage feature within an existing login.
Beyond Saudi equities, Al Rajhi Capital provides access to a meaningful range of GCC and select international markets through its multi-platform offering, alongside mutual funds and investment products built consistent with Al Rajhi Bank's fully Islamic banking model, meaning Sharia compliance is the default across the bank's product range, not an opt-in feature.
The trade-off versus Derayah is twofold: first, the requirement for a linked Al Rajhi Bank account means this isn't a realistic option for someone without an existing relationship with the bank (and opening a new bank account purely to access the brokerage isn't something we'd generally recommend as a first step). Second, standard Tadawul brokerage commissions apply rather than the zero-commission structure Derayah and Sahm Capital offer on standard packages, though the exact commission structure varies by account package and is worth checking directly, particularly if you're an active trader rather than an occasional investor.
Al Rajhi Capital suits Saudi-based investors who:
Already hold an Al Rajhi Bank account and want a tightly integrated brokerage experience
Want a large, established institution with high Tadawul trading volumes
Want Sharia-compliant funds and products as the default, not an add-on
Are comfortable with standard commission-based pricing rather than a zero-commission fintech
Read our full review | Open an account
SNB Capital
Regulation: CMA (Saudi Arabia) Active in: Saudi Arabia Rating: ★★★★★★★★★★ (4/5)
At a glance
| What works well | Where it falls short |
|---|---|
| ✓ Strongest track record for Tadawul IPO subscription access among the four | ✗ Requires a linked SNB account - not viable without that relationship |
| ✓ Tightly integrated with Saudi National Bank's online banking app | ✗ Standard institutional brokerage feel rather than fintech-polished app |
| ✓ Institutional scale as the Kingdom's largest bank by assets |
SNB Capital is the investment banking and brokerage arm of the Saudi National Bank, the Kingdom's largest bank by total assets following its formation through the merger of NCB and Samba Financial Group. Like Al Rajhi Capital, it's most naturally suited to existing customers of its parent bank, with brokerage accounts integrating into the same online banking app most SNB customers already use for everyday transactions, and transfers between banking and brokerage balances handled within that single relationship.
Where SNB Capital genuinely distinguishes itself is in Tadawul IPO subscriptions. Saudi Arabia's IPO market has been one of the most active in the world over recent years as part of the Vision 2030 privatisation programme, and SNB Capital has consistently been one of the leading names through which retail investors subscribe to these offerings. For a Saudi-based investor who wants to participate in IPOs as part of their broader equity strategy, having an account with a brokerage that handles a large share of subscription volume can mean a smoother process during high-demand offerings.
Beyond IPOs, the day-to-day experience is standard equity brokerage and asset management, solid, conservative, and institutional in feel rather than fintech-polished. We'd describe SNB Capital as the right choice for an SNB customer who values institutional scale, IPO access, and the convenience of consolidating banking and brokerage with their primary bank, more than for someone evaluating brokers from a standing start with no existing banking preference.
SNB Capital suits Saudi-based investors who:
Already hold a Saudi National Bank account
Want strong, reliable access to Tadawul IPO subscriptions
Prefer an established institutional brokerage over a fintech-style app
Are consolidating banking and investing with their primary bank relationship
Read our full review | Open an account
Sahm Capital
Regulation: CMA (Saudi Arabia) Active in: Saudi Arabia Rating: ★★★★★★★★★★ (4/5)
At a glance
| What works well | Where it falls short |
|---|---|
| ✓ Fastest fully digital onboarding using a Saudi national ID, minutes to open | ✗ Newer market entrant with shorter track record than Derayah |
| ✓ No existing bank relationship required, similar to Derayah | ✗ Narrower product range - no managed funds or financing offering yet |
| ✓ Competitive commissions on both Tadawul and US stock trading |
Sahm Capital is the newest of the four platforms in this category, a CMA-licensed digital broker built specifically around speed and simplicity for a generation of Saudi investors who expect financial services to work the way consumer apps do. Account opening is fully digital and, by design, takes only a few minutes from start to finish using a Saudi national ID, with no requirement for an existing bank relationship of any kind, similar to Derayah in this respect, but built by a different, newer entrant to the market.
The core product covers both Tadawul and US stock trading from a single, clean mobile app, with commissions described by Sahm Capital as competitive on both Saudi and US markets; because pricing in this segment moves relatively frequently as newer entrants compete for market share, we'd encourage anyone comparing Sahm Capital against Derayah specifically on cost to check both platforms' current fee schedules side by side at the time of opening an account, rather than relying on either platform's headline marketing.
For a Saudi resident opening their very first brokerage account, with no existing bank brokerage relationship and no particular institutional loyalty, the realistic choice in this category usually comes down to Derayah versus Sahm Capital, both standalone, both fully digital, both covering Tadawul and US stocks. Derayah's longer track record and broader product range (Sharia-compliant financing, asset management) give it the edge in our overall rating, but Sahm Capital remains a legitimate, CMA-regulated alternative worth evaluating, particularly if its current fee schedule happens to undercut Derayah's at the time you're opening an account.
Sahm Capital suits Saudi-based investors who:
Want the fastest possible account opening using a Saudi national ID
Prefer a standalone fintech app with no existing bank relationship required
Want Tadawul and US stocks from one app and are comparing pricing against Derayah at the time of opening
Are comfortable evaluating a newer market entrant against more established alternatives
Read our full review | Open an account
How to choose, by situation
I'm opening my first-ever brokerage account in Saudi Arabia and don't bank with Al Rajhi or SNB: Derayah Financial. Zero commission on both Tadawul and US stocks, fully digital onboarding, and the broadest product range of the four if your needs grow over time.
I already bank with Al Rajhi or the Saudi National Bank and want simplicity: Use that bank's brokerage arm (Al Rajhi Capital or SNB Capital respectively). The integration with an account you already use daily is hard to beat for convenience.
I want to participate in Tadawul IPOs as part of my strategy: SNB Capital has the strongest track record for retail IPO subscription volume, though Derayah and others also offer IPO access; check current subscription processes directly before a specific offering.
I want the absolute lowest fees and I'm comfortable comparing two newer fintech platforms: Compare Derayah's and Sahm Capital's current fee schedules side by side at the time you open an account, since both are zero/low-commission and pricing in this segment shifts as the platforms compete.
I want both Saudi and global (US/European) market exposure in one strategy: Use one of these four for your Tadawul allocation, and pair it with a global broker from our self-directed brokers category (Interactive Brokers, XTB, etc.) for the international portion, most of these Saudi platforms' US stock offerings are useful but narrower than a dedicated global broker's range.
Understanding CMA regulation and Tadawul access
All four platforms in this category are licensed and supervised by Saudi Arabia's Capital Market Authority (CMA), the Kingdom's securities regulator, which oversees brokerage firms, asset managers and the Saudi Exchange (Tadawul) itself. CMA regulation is distinct from the DFSA (which governs the DIFC free zone in Dubai) and the FSRA (which governs ADGM in Abu Dhabi); it is the relevant regulator for anyone trading Saudi-listed securities, regardless of which broker they use.
Tadawul itself has grown substantially in both size and international relevance over the past several years, partly driven by its inclusion in major emerging-market indices (such as the MSCI Emerging Markets Index and FTSE Russell indices), which has brought significant passive and active international investment flows into Saudi-listed companies. For a Saudi resident, having direct access to this market, rather than only being able to access it indirectly through an internationally-listed ETF that tracks Saudi equities, is a meaningful advantage: direct ownership typically means lower ongoing costs than an ETF's expense ratio, and access to the full breadth of Tadawul-listed companies rather than just an index's constituents.
One practical point worth flagging for any Saudi resident comparing these platforms: account opening for all four typically requires Absher and/or Nafath verification, Saudi Arabia's national digital identity and authentication services. If you're not already registered with these services, doing so before attempting to open a brokerage account will make the process considerably faster regardless of which platform you choose.
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Frequently asked questions: Saudi Arabia brokers
Requirements vary by platform and have evolved over time as Saudi Arabia has expanded access to its capital markets for residents and, in some cases, foreign investors. Saudi nationals and residents with a valid Iqama (residency permit) are generally able to open accounts with these CMA-regulated brokers, but the specific documentation required, and any restrictions that may apply to non-Saudi residents, should be confirmed directly with each platform, as policies and the broader Qualified Foreign Investor (QFI) framework for non-resident investors are separate from standard retail account opening.
All four platforms in this category now offer both Tadawul and US stock trading within a single account, removing the need to maintain a separate international brokerage purely for US exposure. The depth of US market access (number of available stocks/ETFs, order types, research) is generally narrower than a dedicated global broker like Interactive Brokers, but is sufficient for most investors using it as a secondary allocation alongside their core Tadawul holdings.
Tadawul includes companies across many sectors, not all of which would be considered Sharia-compliant under standard screening criteria (for example, conventional banks and certain leveraged companies). Several of the brokers in this category, particularly Al Rajhi Capital given its parent bank's Islamic finance model, offer Sharia-compliant fund products that handle this screening for you; if you're investing directly in individual Tadawul-listed stocks and Sharia compliance matters, you would generally need to apply screening criteria yourself or use a Sharia-compliant index fund.
Tadawul operates on a different trading schedule and settlement cycle than US exchanges, reflecting Saudi Arabia's working week and time zone. If you're trading both Tadawul and US stocks from the same account, it's worth familiarising yourself with both markets' trading hours and settlement timelines (T+2 is standard for many major exchanges, but always confirm current settlement cycles with your broker), particularly around fund availability after a sale.
This depends on the specific platform's policies and on residency-related requirements tied to CMA regulation and, for bank-affiliated brokers, the underlying bank account. Some investors are able to retain accounts and holdings after relocating while others may need to transfer or close accounts depending on their new country of residence. If relocation is on the horizon, raise this directly with your broker well in advance.