We found 11 online brokers that are appropriate for Trading Saudi Arabia Investment Platforms.
Saudi Arabia ranks #3 among other oil-producing countries. Being a top exporter of oil, Saudi Arabia has managed to become a big economy in the Middle East. Among other Arab countries, no one stands a chance against the wealth of Saudi Arabia.
Since most of the country's income is tied to the export of oil, the country's economy is highly correlated to oil prices and global demand. Pandemic (COVID-19) drastically lowed the demand for oil all around the world. With travel restrictions all over the world, demand for oil dropped which resulted in cheap prices. As a result, Saudi Arabia's economy entered into a recession in 2020.
Decreased demand for oil and restrictions inside the country to curb COVID-19, had a negative effect on the economy. As a result, Saudi's economy contracted by 4.1% in 2020. With global demand for oil returning once again, IMF forecasts that Saudi Arabian economy may grow by 2.9% in 2024.
Growth will get more intense during 2024, provided the COVID-19 recovery and economic downturn due to inflation becomes less severe and allows the opening of the global economy. By 2024, IMF expects Saudi Arabia's GDP may grow by 4%.
The year 2020 saw a record reduction in oil export of the country. The main reason behind such a drastic fall in crude oil export was attributed to the weak global demand for crude oil. Since the transport sector was closed during initial lockdown measures, there was no need to import a huge amount of crude oil. As a result, countries reduced their oil imports.
Being a top exporter of crude oil, this situation negatively affected Suadi's economy. In June 2020, crude oil export was recorded at around 4.98 million barrels per day. This was followed by production cuts from OPEC.
With reduced COVID-19 cases, economies around the world started to open up once again in Q3 2020. This increased the crude exports of the country and finally reached around 6.35 million barrels per day. Although the experts managed to recover, cheap prices resulted in oil revenues for the country. Lower crude oil prices affected the budget of the country, resulting in a budget deficit of $17 billion during 2020.
A year earlier, Saudi Arabia posted a budget surplus of $47 billion. For a rich Arab country like Saudi Arabia, registering a budget deficit is a rare sight.
Hajj is an important & mandatory religious duty for Muslims. However, fearing the further spread of the COVID-19 virus, Saudi authorities banned international pilgrims from entering the country. Hajj which attracts millions of Muslims from all over the world provides important economic support to the country. With the ban on the Hajj from Saudi Arabia, the country's economy took another hit.
The world is learning to live with the COVID-19 pandemic. As a result, economic activities have started once again and may increase once the virus spread rate is further reduced due to vaccination drive all over the world.
With global growth returning and economic activities starting, the budget deficit of Saudi Arabia may start to narrow in 2024, and the next few years. The budget deficit forecast for 2024 is $8.3 billion. A drop from $17 billion in 2020 to a forecast of $8.3 billion in 2024 means we will see strong growth once again in the next 2 years.
To mitigate the effects of COVID-19 on the private sector, Saudi authorities utilized various fiscal policies and stimulus packages. While this helped the public in short term, problems may arise in the next few years. This fiscal policy resulted in a record increase of the public debt, which stands at 32.4% of the GDP in 2020.
Last year (2019), public debt was just around 22.8% of the GDP. Within 1 year, an increase of almost 10% was recorded due to weak crude oil exports and a contracting economy.
Experts believe that public debt will increase during the next few years. The public debt forecast for 2024 and 2025 is 31% and 31.7% respectively.
VAT was increased to 15% during 2020 which saw a spike in the inflation rate. During 2019, inflation was around -2.1% but it reached a record level of 3.4% in 2020 mainly due to the increase in VAT.
Inflation in Saudi Arabia is expected to reach 2.7% in 2021 with a decline of around 0.7% in 2024. Inflation during 2024 will be around 2% in the country. An increase in the prices of energy and water is expected during 2024 and 2025. These 2 factors will contribute heavily to the increase in inflation.
Services and the industrial sector employs most of the working force of the country. These 2 sectors also contribute heavily towards the gross domestic growth.
Since desert covers most of the country, Agriculture doesn't have much of an importance in the country. Agriculture-related activities only account for 2.2% of the GDP. Since most of the land in the country is desert, Saudi Arabia imports most of the food products from other countries.
Once airlines and the overall transport sector start their operations, Saudi Arabia's economy will eventually recover. Two important factors for the strong growth of the country are High oil prices and increased demand for crude oil.
Saudi Arabia 2024 GDP forecast: 4.0%
We have conducted extensive research and analysis on over multiple data points on Saudi Arabia Economic Forecast to present you with a comprehensive guide that can help you find the most suitable Saudi Arabia Economic Forecast. Below we shortlist what we think are the best Saudi Arabia Investment Platforms after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Saudi Arabia Economic Forecast.
Selecting a reliable and reputable online Saudi Arabia Investment Platforms trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Saudi Arabia Investment Platforms more confidently.
Selecting the right online Saudi Arabia Investment Platforms trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Saudi Arabia Investment Platforms trading, it's essential to compare the different options available to you. Our Saudi Arabia Investment Platforms brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Saudi Arabia Investment Platforms broker that best suits your needs and preferences for Saudi Arabia Investment Platforms. Our Saudi Arabia Investment Platforms broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Saudi Arabia Investment Platforms.
Compare Saudi Arabia Investment Platforms brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Saudi Arabia Investment Platforms broker, it's crucial to compare several factors to choose the right one for your Saudi Arabia Investment Platforms needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Saudi Arabia Investment Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Saudi Arabia Investment Platforms that accept Saudi Arabia Investment Platforms clients.
Broker | IC Markets | Roboforex | eToro | XTB | XM | Pepperstone | AvaTrade | FP Markets | EasyMarkets | SpreadEx | FXPro |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) |
Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 100 | 100 | 1 | 100 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 142,500+ | 10,000+ | 1,866,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
easyMarkets Demo |
SpreadEx Demo |
FxPro Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | US, CA, IR |
You can compare Saudi Arabia Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Saudi Arabia Investment Platforms for 2024 article further below. You can see it now by clicking here
We have listed top Saudi Arabia Investment Platforms below.
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