Trading Journal for Saudi Traders

Saudi Arabia’s capital markets have undergone a dramatic transformation. The Saudi Exchange (Tadawul) is the largest stock market in the Middle East with a market capitalization exceeding $2.5 trillion, and retail trading participation has surged following the Saudi Aramco IPO and Vision 2030 economic reforms. With millions of active trading accounts and growing interest in both local and international markets, Saudi traders need structured tools to track performance across multiple exchanges, currencies, and asset classes.

Popular Brokers in Saudi Arabia

Broker	Key Feature	Import Support
SNB Capital	Largest Saudi brokerage, full Tadawul access	Coming Soon
Al Rajhi Capital	Shariah-compliant trading accounts	Coming Soon
Riyad Capital	Strong research coverage of Saudi equities	Coming Soon
SAB Invest	Integrated banking and brokerage	Coming Soon
Interactive Brokers	International market access, competitive fees	Yes
Saxo Bank	Multi-asset platform, forex and CFDs	Yes

The Saudi brokerage landscape is split between local firms and international platforms. Local brokers like SNB Capital and Al Rajhi Capital dominate Tadawul trading with deep coverage of Saudi equities and Shariah-compliant account options. International brokers like Interactive Brokers and Saxo Bank serve Saudi traders who want access to US equities, forex, and global derivatives. Many active Saudi traders maintain accounts with both a local and international broker, making consolidated trade journaling essential.

Tax Rules for Traders in Saudi Arabia

Saudi Arabia offers one of the most favorable tax environments for individual traders globally. There is no personal income tax, and individual residents pay zero capital gains tax on profits from securities trading. This applies to both Tadawul-listed stocks and international investments held in personal accounts.

However, Saudi nationals are subject to Zakat at 2.5% on eligible investment holdings as part of the annual Zakat assessment administered by the Zakat, Tax and Customs Authority (ZATCA). The calculation basis for Zakat on investments can be complex, and maintaining accurate trade records throughout the year simplifies the annual filing process significantly.

Foreign investors participating through the Qualified Foreign Investor (QFI) program should note that withholding tax may apply to dividends. Additionally, brokerage commissions and financial services are subject to 15% VAT. While these costs do not constitute a tax on gains, tracking total trading costs — including commissions, VAT, and exchange fees — gives a complete picture of net profitability.

Trading Hours & Markets

The Saudi Exchange operates on a Sunday-to-Thursday schedule, reflecting the regional work week:

• Pre-open auction: 9:30 AM – 10:00 AM AST
• Continuous trading: 10:00 AM – 3:00 PM AST
• Closing auction: 3:00 PM – 3:10 PM AST
• Closed: Friday and Saturday

Tadawul’s hours overlap with European morning sessions (London opens at 11:00 AM AST), creating opportunities for traders watching both markets. US market pre-market activity begins at 5:30 PM AST, with regular US hours running from 4:30 PM to 11:00 PM AST — convenient for Saudi traders who want to trade US stocks in the evening.

The most actively traded instruments include Saudi Aramco (2222), Al Rajhi Bank (1120), SABIC (2010), and STC (7010) on the main market. The Nomu parallel market attracts traders looking for higher-growth opportunities among smaller companies. Beyond equities, Saudi traders are increasingly active in forex pairs (particularly USD/SAR, EUR/USD, and XAU/USD) and US tech stocks through international brokerage accounts.

Challenges for Saudi Traders

Navigating Two Distinct Markets

Tadawul’s main market and the Nomu parallel market serve different purposes. Main market stocks offer higher liquidity and institutional coverage, while Nomu listings tend to be smaller, more volatile, and less researched. Traders operating across both markets need to understand that the same strategy rarely works on both — position sizing, holding periods, and risk parameters should differ. Without separate tracking, it is difficult to know which market is actually contributing to your returns.

Sunday-Thursday Trading Week

The Saudi trading week creates a unique scheduling challenge. When Tadawul closes on Thursday afternoon, global markets still have Friday’s session ahead. Weekend gaps work differently — Saudi traders face potential gap risk from Friday’s global market moves when Tadawul reopens on Sunday. Traders active in both local and international markets must carefully manage positions around these mismatched weekends.

Vision 2030 Sector Rotation

Saudi Arabia’s economic diversification program is reshaping the investment landscape. Traditional petrochemical and banking sectors now compete for capital with entertainment, tourism, technology, and renewable energy plays. IPO activity has accelerated, and sector leadership rotates as government spending priorities shift. Traders who do not systematically track which sectors and themes are driving their P&L risk concentrating in yesterday’s winners.

Growing Retail Participation Without Structure

The Aramco IPO brought an unprecedented wave of first-time investors into Saudi markets. Many retail traders opened accounts and began trading without establishing disciplined tracking habits. As these traders move beyond buy-and-hold into active trading on Tadawul and international platforms, the absence of a journaling practice leads to repeated mistakes and unclear performance attribution.

How JournalPlus Helps Saudi Traders

Multi-market, multi-currency tracking — log Tadawul trades in SAR alongside US equity and forex positions in USD. JournalPlus calculates performance metrics per currency and across your entire portfolio, eliminating the spreadsheet gymnastics of manual conversion.

Sunday-Thursday week alignment — weekly performance reviews, session analytics, and calendar views respect the actual Tadawul trading week. Your “weekly P&L” reflects Sunday through Thursday, not the Monday-Friday default that most trading tools assume.

Sector and thematic tagging — tag every trade by sector, Vision 2030 theme, or custom category. Over time, your journal reveals whether your petrochemical trades outperform your banking trades, or whether Nomu positions justify the additional volatility.

Broker import and manual logging — import trade history from international brokers like Interactive Brokers via CSV. For local Saudi brokers, manual trade entry with auto-calculated metrics keeps your records complete without waiting for direct integration.

Cost-efficient for tax-free compounding — at $159 one-time for lifetime access, JournalPlus aligns with the Saudi tax advantage. With no capital gains tax eroding profits, every percentage point of improvement in your trading process compounds directly into returns. Traders in the UAE and Singapore enjoy similar tax-free trading environments and benefit from the same approach.

FAQ

Is there a trading journal that supports the Saudi Exchange?

JournalPlus supports logging trades from Tadawul’s main market and Nomu parallel market with full SAR currency handling. You can record Saudi-listed tickers, track dividends, and analyze performance by exchange. Import support for major Saudi brokers is on the roadmap, with manual CSV entry available now.

Do Saudi traders pay tax on stock market profits?

Individual residents of Saudi Arabia pay no personal income tax and no capital gains tax on trading profits. Zakat obligations at 2.5% may apply to qualifying investment assets for Saudi nationals, administered by ZATCA. Maintaining a detailed trade journal helps document holdings for Zakat calculations and provides records if ZATCA or your broker requires transaction history.

What markets do Saudi traders typically trade?

Saudi traders primarily trade equities on Tadawul (main market) and Nomu, with top stocks including Aramco, Al Rajhi Bank, and SABIC. International market access through brokers like Interactive Brokers has grown significantly, with US tech stocks and forex (especially gold) being popular. Indian markets also attract Saudi-based traders with ties to the subcontinent.

Can JournalPlus handle the Sunday-Thursday trading week?

Yes. JournalPlus supports custom trading week configurations, so your weekly analytics align with Tadawul’s Sunday-Thursday schedule rather than defaulting to a Monday-Friday framework. This ensures accurate weekly P&L calculations, session-based reviews, and calendar views that match your actual trading activity.

How does JournalPlus compare to using Excel for trade tracking?

Spreadsheets require manual formula maintenance, break easily with multi-currency calculations, and offer no built-in analytics. JournalPlus automatically calculates win rate, profit factor, expectancy, max drawdown, and dozens of other metrics. It handles SAR/USD conversion, generates visual performance reports, and costs $159 once — replacing a spreadsheet that demands hours of maintenance every week.