Regulator profile · SA
CMA — Capital Market Authority (Saudi Arabia)
Tracked byBrokerlist Editorial · Independent review teamUpdated
The Capital Market Authority (CMA) of Saudi Arabia is the kingdom's capital-markets regulator. CMA supervises Tadawul (the Saudi Stock Exchange) and licensed Capital Market Institutions (CMIs) under the Capital Market Law (Royal Decree M/30, 2003). Saudi Central Bank (SAMA, formerly Saudi Arabian Monetary Authority) handles banking and foreign-exchange supervision separately.
Brokers in Saudi Arabia accepting residents under CMA- Jurisdiction
- Kingdom of Saudi Arabia.
- Founded
- 2003
- Mandate
- Established by Royal Decree M/30 of 2003 as an independent statutory body reporting directly to the Prime Minister. CMA enforces the Capital Market Law and its implementing regulations governing securities offerings, market conduct, asset management, and CMI licensing across investment management, dealing, advising, custody and arrangement activities.
- Consumer protection
- No statutory retail-FX compensation scheme; CMA does not licence retail OTC FX with foreign counterparties. Tadawul-listed securities settlement is guaranteed by the Securities Depository Center (Edaa). SAMA-supervised bank deposits have varying coverage limits. The CMA Investor Awareness Centre runs ongoing investor-education programmes.
- Retail leverage caps
- CMA does not impose retail FX leverage caps because retail OTC FX is not within its licensing perimeter. Margin trading on Tadawul-listed securities is subject to CMI-specific risk management rules. SAMA foreign-exchange controls are minimal compared to most emerging markets, but documentation is required for substantial outbound flows.
- Public register
- CMA publishes lists of authorised CMIs by category — Dealing, Managing Investment Funds, Advising, Custody, Arranging. Cross-reference Tadawul member directory for trade-execution authorisation. Open register ↗
- Dispute resolution
- The Committee for the Resolution of Securities Disputes (CRSD) under CMA hears disputes related to capital-market activities. CRSD decisions are binding on licensed parties; appeals go to the Appeal Committee for the Resolution of Securities Disputes.
- Editor notes
- Major CMA-licensed CMIs include Al Rajhi Capital, Riyad Capital, SNB Capital (NCB Capital legacy), HSBC Saudi Arabia, and Albilad Capital. International CFD brokers (Exness, AvaTrade, regional IG offerings) onboard Saudi expats and citizens via offshore entities or licensed regional partners; CMA publishes regular Investor Awareness alerts about unauthorised platforms.
Brokers we track with a CMA licence
No brokersNo tracked broker currently holds a CMA licence in our database.