IC Markets vs Plus500 for Saudi Arabia Traders (2026)

For Saudi Arabia traders, trading costs are a key differentiator. IC Markets offers raw spreads starting from 0.0 pips on major pairs like EUR/USD, with a commission of $3.50 per lot per side. This is ideal for high-volume traders who execute dozens of trades daily. In contrast, Plus500 has variable spreads that average 0.6-1.2 pips on EUR/USD with no commission, but this can be more expensive for frequent traders. For example, a Saudi trader executing 50 lots per month would pay approximately $350 in spreads with IC Markets (including commission) versus $600+ with Plus500. These savings are significant for high-net-worth individuals trading large sizes.

IC Markets provides MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, all available in Arabic and optimized for fast execution. These platforms support advanced charting, Expert Advisors (EAs), and algorithmic trading, which are popular among Saudi Arabia's high-net-worth traders. Plus500 offers only its proprietary web and mobile platform, which is intuitive but lacks advanced features like EAs or third-party indicators. For Saudi traders who rely on automated strategies or detailed technical analysis, IC Markets is the clear winner. Plus500’s platform is better for casual traders who prefer simplicity.

IC Markets boasts ultra-fast execution with an average speed of 40ms, thanks to its Equinix NY4 data center and no dealing desk (NDD) model. This is critical for Saudi scalpers and algorithmic traders. Plus500 has slower execution, averaging 100-200ms, due to its market maker model. For high-volume Saudi traders, IC Markets provides better slippage control and faster fills.

IC Markets is regulated by the Capital Market Authority (CMA) in Saudi Arabia (license number 20200000031), providing local oversight and trust. This is crucial for Saudi traders as it ensures compliance with local financial laws and dispute resolution. Plus500 is regulated by top-tier authorities like the FCA (UK) and CySEC (Cyprus), which are internationally recognized but not locally registered with the CMA. While both are safe, IC Markets’ CMA regulation gives Saudi traders an extra layer of confidence and easier access to local support.

Depositing and withdrawing funds is seamless for Saudi Arabia traders at both brokers, but IC Markets has a clear advantage. IC Markets supports Bank Transfer, STC Pay, and Credit Card deposits with no fees. STC Pay is a popular local mobile payment service in Saudi Arabia, allowing instant deposits in SAR. Withdrawals are processed within 1-2 business days via the same methods. Plus500 only offers Bank Transfer and Credit Card deposits, with no STC Pay support. Withdrawals can take 2-5 business days. For Saudi traders who value speed and local payment options, IC Markets is more convenient. Minimum deposits are $200 for IC Markets and $100 for Plus500.

Both IC Markets and Plus500 offer Islamic (swap-free) accounts for Saudi Arabia Muslim traders, which comply with Sharia law by not charging or paying overnight interest. IC Markets provides these accounts with no extra fees on long-term positions, making them ideal for swing traders. Plus500 also offers Islamic accounts but charges a small administrative fee if positions are held beyond a certain period (e.g., 7 days). For Saudi traders who hold trades overnight frequently, IC Markets is the better option due to its more generous terms.

IC Markets offers 24/7 customer support in Arabic via live chat, email, and phone, with a dedicated team for Saudi clients. Plus500 provides 24/7 multilingual support but only via live chat and email, with no phone option for Saudi Arabia. IC Markets’ phone support is a plus for high-net-worth traders who prefer direct assistance.