While the Capital Market Authority (CMA) oversees the financial markets in the Kingdom of Saudi Arabia, there are no rules that explicitly pertain to retail forex or derivatives traders. As a result, many forex brokers that accept residents of Saudi Arabia are regulated in other reputable jurisdictions – just not by the CMA. The Capital Markets Law (pursuant to Royal Decree no. 30 from 2003, Article 32) outlines the regulation and licensing requirements for securities brokers in the Kingdom – including dealers. The CMA does offer a portal for filing complaints to Saudi and GCC citizens, but this may only cover cases where your broker is regulated by the CMA. securityWhy regulation is important Choosing a forex broker that is licensed in reputable jurisdictions can help you to avoid forex scams. Check out my educational series dedicated to forex scams to learn how to identify common forex scams and to discover what to do if you've been scammed. Bitcoin traders and crypto devotees will find information about how to spot common crypto scams.