Forex.com vs IC Markets: Which Broker is Best for Saudi Arabia Traders in 2026?

Trading costs are a critical factor for Saudi high-net-worth individuals. IC Markets provides raw spreads starting from 0.0 pips on major pairs like EUR/USD, with a $7 round-turn commission per lot—ideal for volume traders who convert SAR frequently. Forex.com’s standard spreads begin at 1.3 pips with no commission, but this can be more expensive over many trades. For example, a Saudi trader executing 100 lots monthly would pay significantly lower total costs with IC Markets. Both brokers offer competitive pricing, but IC Markets clearly leads for cost-conscious and active traders.

IC Markets offers MetaTrader 4, MetaTrader 5, and cTrader, giving Saudi traders access to powerful charting tools, algorithmic trading, and mobile apps that perform well on local internet connections. Forex.com provides its proprietary Web Trader platform plus MT4, but lacks cTrader. For Saudi traders who rely on automated strategies (EAs) or prefer multi-platform flexibility, IC Markets is the superior choice. Both brokers support Arabic interface options, though IC Markets’ MT4/5 ecosystem is more widely used among professional traders in the region.

IC Markets uses a No Dealing Desk (NDD) execution model with low latency servers in London and New York, ensuring order fills within milliseconds—ideal for rapid news trading by Saudi traders. Forex.com also employs NDD execution but has been known to experience re-quotes during high volatility. For high-volume Saudi traders who need reliable slippage control and minimal rejections, IC Markets’ execution quality is superior.

Both Forex.com and IC Markets are regulated by the Saudi Capital Market Authority (CMA), ensuring they comply with local financial laws and protect client funds. This means Saudi traders can lodge complaints with the CMA if needed. Additionally, Forex.com is regulated by the FCA (UK) and IC Markets by ASIC (Australia) and CySEC, offering extra security layers. CMA regulation also mandates segregated client accounts and regular audits. For Saudi residents, the CMA oversight combined with tier-1 international licenses makes both brokers trustworthy, though IC Markets has a more recent and active local presence.

Saudi Arabia traders can fund their accounts using Bank Transfer (often through local banks like Al Rajhi or Samba), STC Pay—a widely used mobile wallet, and Credit Cards (Visa/Mastercard). IC Markets processes deposits within a few hours via STC Pay, while Bank Transfers may take 1-2 business days. Forex.com also supports these methods but requires a minimum deposit of $100 (about 375 SAR) compared to IC Markets’ $200 (750 SAR). Withdrawals are typically processed within 24 hours at IC Markets, whereas Forex.com may take 1-2 days. STC Pay is particularly convenient for Saudi traders as it avoids international wire fees and speeds up funding.

Both brokers offer Islamic (swap-free) accounts catering to Muslim traders in Saudi Arabia who require Sharia-compliant trading conditions. IC Markets provides an automatic swap waiver with no time limit or hidden fees, making it a permanent solution for observant traders. Forex.com also offers Islamic accounts but may require a manual request and has a condition that accounts revert to standard after a certain period if no trading occurs. For Saudi traders seeking a straightforward, long-term Islamic account, IC Markets is the better option.

Customer support is available 24/5 from both brokers, with IC Markets also offering live chat and phone support. Forex.com provides email and phone support but lacks 24/7 availability. For Saudi Arabia, Arabic-speaking support is available at IC Markets through their global team, while Forex.com’s Arabic support is limited. During active trading hours in the region (GMT+3), IC Markets responds faster, which is critical for high-net-worth traders needing immediate assistance.