Alistithmar Capital, commonly called ICAP, combines Saudi and overseas securities dealing with the banking relationship of its parent, Saudi Investment Bank. Its own opening instructions distinguish the local investment account from subsequent GCC and US access. The service is most usefully assessed through that account structure, the applicable trading tariff and the terms governing online orders and margin borrowing.[1][5][8]
Broker essentials01
Alistithmar Capital at a glance
| Measure | Value | Context |
|---|---|---|
| Legal company | Alistithmar for Financial Securities and Brokerage Company. | Source 1 |
| Ownership | Wholly owned by Saudi Investment Bank. | Source 1 |
| CMA licence | 11156-37. | Source 1Source 2 |
| Core platform | ICAP Trade; browser, smartphone/tablet and telephone channels. | Source 5Source 6 |
| Opening fee | The client FAQ states that setting up an investment account is free. | Source 5 |
| Paid extras | Live prices, market depth and TWS can require subscriptions. | Source 5 |
| Service line | 800 124 8282. | Source 5 |
Accounts and eligibility
Sections ↑At a glance02
Published account-opening sequence
| Topic | Details |
|---|---|
| Banking prerequisite | The standard route requires a bank account with Saudi Investment Bank.Source 5 |
| Local investment account | Complete the local-market application first.Source 5 |
| GCC account | The separate GCC application follows the local account.Source 5 |
| US account | The instructions direct an existing local-account client to the US Market item in ICAP Trade, which creates and opens the US-market route.Source 5 |
| Confirmation | The broker describes an application acknowledgement and SMS notification when the request is executed.Source 5 |
At a glance03
Customer eligibility and documents
| Topic | Details |
|---|---|
| Individuals | The website directs individuals to the online investment-account form.Source 5 |
| Institutions | The published contact for institutional requirements is 800 124 8282.Source 5 |
| Identity checks | CMA instructions require identity and acceptance checks appropriate to the customer category; platform registration is not a substitute for an approved investment account.Source 13 |
| Foreign investors | Direct Saudi Main Market access expanded on 1 February 2026, but that regulatory change does not remove the broker’s onboarding and banking requirements.Source 14Source 5 |
At a glance04
Maintaining an existing account
| Topic | Details |
|---|---|
| KYC update routes | The FAQ describes a KYC update form at SAIB branches and an online update route.Source 5 |
| Expiry notices | CMA rules require notice at least 90 calendar days before original documents expire.Source 13 |
| Information-related freeze | A failure to renew identification or required account information can freeze the account; the rules require at least one month’s notice of the freezing date.Source 13 |
| Frozen versus closed | A freeze restricts outgoing cash and use of the balance, but is distinct from closing the account. The regulatory definition permits sales and receipt of proceeds/profits.Source 13 |
Markets and investments
Sections ↑At a glance05
Published market access
| Topic | Details |
|---|---|
| Saudi market | Tadawul-listed securities through the broker’s local dealing channels.Source 4 |
| Regional markets | The company lists Dubai, Abu Dhabi, Oman, Bahrain, Kuwait, Egypt, Qatar and Jordan.Source 4 |
| United States | Separate US-market access is described in the opening instructions.Source 5 |
| Nomu | The site describes a qualified-investor route and risk acknowledgement for direct access; Main Market eligibility should not be treated as automatic Nomu approval.Source 4 |
| Investment funds | ICAP Trade supports subscriptions, redemptions and fund-holding reports.Source 5 |
At a glance06
Financing products
| Topic | Details |
|---|---|
| Overdraft/margin credit | An agreed buying-power facility permits the investment account to be overdrawn for share purchases.Source 10 |
| Overdraft payment structure | The page describes monthly commission, with principal due when an agreement expires without renewal.Source 10 |
| Eligible overdraft markets | Saudi, US and UAE portfolios are described.Source 10 |
| Murabaha | A separate Saudi-market securities-financing structure, with principal and the agreed profit due at the stated six-month maturity.Source 10 |
| Pricing and approval | Credit limits, eligible collateral and the actual financing rate are determined by the agreed facility; the page does not publish one universal rate.Source 10 |
At a glance07
Published portfolio-coverage requirements
| Topic | Details |
|---|---|
| Saudi overdraft | 200% coverage.Source 10 |
| US overdraft | 200% coverage.Source 10 |
| UAE overdraft | 300% coverage.Source 10 |
| Murabaha | Minimum 200% coverage in the Saudi-market product.Source 10 |
| Interpretation | These are the broker’s stated coverage ratios, not interchangeable retail-FX leverage figures or a promise of approval for every security.Source 10 |
Fees and trading costs
Sections ↑At a glance08
Basic access and separate charges
| Topic | Details |
|---|---|
| Investment-account setup | No setup fee according to the FAQ.Source 5 |
| Basic ICAP Trade use | Common functions such as entering trades, transferring cash and viewing holdings are described as free to access.Source 5 |
| Trading commission | A free interface does not waive the commission on an executed trade.Source 7Source 9 |
| Paid upgrades | Live price feeds, depth and TWS are examples of separately charged services.Source 5 |
| Client discounts | The brokerage page says discounts depend on client segment.Source 3 |
At a glance09
Published US share pricing
| Topic | Details |
|---|---|
| Shares priced USD 5 or more | USD 0.06 per share; USD 1.99 minimum per order.Source 7 |
| Lower-priced share band | USD 0.04 per share, minimum USD 1.99. The published price band is USD 1.001–4.99; ask ICAP how it handles the omitted boundary prices.Source 7 |
| Shares below USD 1 | 1% of transaction value, subject to a USD 20 minimum.Source 7 |
| Scope of these figures | The undated US schedule lists broker commissions. Add the applicable taxes and other account or market charges.Source 7 |
At a glance10
Published US options pricing
| Topic | Details |
|---|---|
| One to 49 contracts | USD 5 per contract; minimum USD 40.Source 7 |
| 50 contracts or more | USD 4 per contract; no separate minimum is printed.Source 7 |
| Two-contract illustration | 2 × USD 5 = USD 10, so the USD 40 minimum applies before other charges.Source 7 |
| Ten-contract illustration | 10 × USD 5 = USD 50, which exceeds the USD 40 minimum.Source 7 |
At a glance11
Saudi commission context and all-in costs
| Topic | Details |
|---|---|
| Regulatory maximum | The CMA’s share-commission mechanism sets a 0.155% maximum and removed the old minimum on small transactions, effective 17 July 2016. This is a market rule, not proof of the rate negotiated with ICAP.Source 15 |
| Other fee categories | The account form identifies execution, custody, advice and clearing charges where applicable.Source 9 |
| Taxes | The fee clauses exclude VAT and other official charges from the quoted commissions.Source 9 |
| Complete account quote | Request the applicable regional-market, custody, data, transfer and financing charges with the account schedule.Source 7Source 3Source 9Source 10 |
Platforms and order handling
Sections ↑At a glance12
Platforms and assisted dealing
| Topic | Details |
|---|---|
| Browser | ICAP Trade and the Istithmarcom naming appear in the broker’s online-service instructions.Source 5Source 6 |
| Mobile/tablet | The channel page identifies iPhone, iPad and Android applications.Source 6 |
| Pro 11 / TWS | Desktop software is described for eligible high-volume users; access and price are separate from basic service.Source 6Source 5 |
| Telephone | Dedicated broker-assisted dealing is advertised for high-volume clients.Source 6 |
At a glance13
Information required on an order
| Topic | Details |
|---|---|
| Security and quantity | Confirm the instrument and number of securities.Source 8 |
| Price instruction | The terms distinguish a fixed-price instruction from a market-price instruction.Source 8 |
| Validity | The client must confirm the order’s validity; the generic terms do not establish every venue-specific duration choice.Source 8 |
| Buying power | ICAP may reject an instruction if cash would be insufficient to meet the trade and related charges.Source 8 |
At a glance14
Fills, changes and duplicate instructions
| Topic | Details |
|---|---|
| Partial execution | A client generally must accept the quantity executed unless an express order condition provides otherwise.Source 8 |
| Cancel or amend | A request to cancel or modify may not succeed; submitting the request is not confirmation that the existing order has changed.Source 8 |
| Repeated orders | The terms make clients responsible for errors, omissions and repetition of their instructions.Source 8 |
| Binding instructions | Orders received through the client’s credentials and authorisation code are treated as client instructions.Source 8 |
At a glance15
Service interruptions and order evidence
| Topic | Details |
|---|---|
| Technical failures | The terms describe communication, system and exchange failures and do not promise uninterrupted online dealing.Source 8 |
| Electronic record | The company may record communications and maintain electronic instruction records for dispute evidence.Source 8 |
| Login assistance | [email protected] and 800 124 8282 are the published help routes.Source 5Source 11 |
| Practical consequence | Check the status of an instruction before resending it after a disruption; the terms’ duplicate-order and cancellation provisions make that distinction material.Source 8 |
Funding, withdrawals and custody
Sections ↑At a glance16
Cash transfers and withdrawable proceeds
| Topic | Details |
|---|---|
| Funding channel | The FAQ describes transfers from SAIB, including online banking.Source 5 |
| External withdrawal | The service provides transfers from the investment account to the client’s bank account.Source 5 |
| Sale proceeds | The online terms provide for delivery of proceeds after the relevant settlement period. An executed sale is not necessarily immediately withdrawable cash.Source 8 |
| Bank ownership | CMA rules generally restrict outgoing payments to linked bank accounts in the client’s name, subject to the specified legal exceptions.Source 13 |
At a glance17
Currency conversion and unsettled obligations
| Topic | Details |
|---|---|
| Conversion rate | The online terms allow conversion at the bank’s exchange rate applicable when the conversion occurs.Source 8 |
| Unavailable rate | If no rate is then available, conversion may occur when a rate becomes available.Source 8 |
| Multiple currencies | The terms permit covering an obligation from another currency account; this can create a conversion cost.Source 8 |
| Closing online access | Ending the online-service agreement does not remove unsettled trades, commissions or expenses.Source 8 |
At a glance18
Account closure under CMA instructions
| Topic | Details |
|---|---|
| Client request | The institution must document and generally accept a closure request unless an attachment or financial obligation prevents it.Source 13 |
| Empty account | After a year with no balance or linked securities, an unrestricted account may be closed after 30 days’ notice.Source 13 |
| Long-term freeze | An eligible account frozen for five years without an information update may be closed after its available balance is sent to the client’s bank.Source 13 |
Regulation and investor protection
Sections ↑At a glance19
Regulated company and permitted activities
| Topic | Details |
|---|---|
| Identity | The CMA directory names Alistithmar for Financial Securities and Brokerage Company.Source 2 |
| Activity scope | Dealing, managing investments/operating funds, arranging, advising and custody appear in the directory.Source 2 |
| Licence history | The company explains that licence 11156-37 replaced its earlier licence after the 2011 acquisition of SAIB BNP Paribas Asset Management.Source 1 |
| Scope of protection | Saudi authorisation should not be represented as a government guarantee of investment returns or universal insurance for foreign-market holdings.Source 2Source 8 |
At a glance20
Credentials and client responsibility
| Topic | Details |
|---|---|
| Confidential information | The client must protect access details and immediately report loss, theft or unauthorised use.Source 8 |
| Instruction responsibility | The online agreement treats authenticated instructions as binding, subject to the agreement and applicable rules.Source 8 |
| Self-directed decisions | The online terms assign the trading decision to the client; execution is not an endorsement of the investment.Source 8 |
| Liability clauses | The terms contain limitations and exceptions, including gross negligence or wilful misconduct. A generic summary should not turn them into an absolute exemption from responsibility.Source 8 |
Support and complaints
Sections ↑At a glance21
Customer-service channels
| Topic | Details |
|---|---|
| Toll-free line | 800 124 8282.Source 5 |
| Customer-care email | [email protected].Source 11 |
| Telephone/WhatsApp | The contact page lists 011 254 7605 for customer care and WhatsApp.Source 11 |
| In-person assistance | The FAQ points clients to the head office and centres for access problems.Source 5 |
At a glance22
Submitting a formal complaint
| Topic | Details |
|---|---|
| Telephone | 800 124 8282, extension 5 after completing the system’s login requirements.Source 12 |
| [email protected].Source 12 | |
| Fax | +966 11 489 6270, addressed to the Complaints Management Unit.Source 12 |
| Post/in person | P.O. Box 6888, Riyadh 11452, or the complaint-unit officer at the head office.Source 12 |
Research and additional services
Sections ↑At a glance23
Research, reports and fund administration
| Topic | Details |
|---|---|
| Research | The brokerage service advertises research and advisory resources alongside execution.Source 3 |
| Portfolio reporting | ICAP Trade provides stock holdings and mutual-fund holding reports.Source 5 |
| Fund transactions | Subscriptions/redemptions are available through the stated channels, subject to each fund’s terms.Source 5 |
| Separate fund requirements | The FAQ requires a SAIB current account, an active investment account and acceptance of the relevant fund documents.Source 5 |
Company and group structure
Sections ↑At a glance24
Corporate history and ownership
| Topic | Details |
|---|---|
| Company form | Saudi closed joint-stock company, wholly owned by Saudi Investment Bank.Source 1 |
| Registration | Commercial registration 1010235995; formally registered on 22 July 2007 according to the company history.Source 1 |
| Business commencement | The company gives 1 January 2008 as the start of its business.Source 1 |
| 2011 change | The company describes acquiring the assets and liabilities of SAIB BNP Paribas Asset Management and receiving a revised licence in September 2011.Source 1 |
- Headquarters
- Saudi Arabia
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
Alistithmar for Financial Securities and Brokerage Company
No separate licence entry is recorded in this panel.
Practical considerations
Sections ↑At a glance25
Practical fit and limitations
| Topic | Details |
|---|---|
| Existing SAIB clients | The bank-linked opening and transfer route may be convenient for an existing banking relationship.Source 5 |
| Active or assisted investors | Pro 11 and telephone channels are explicitly described, with eligibility and upgrade costs to consider.Source 6Source 5 |
| Small US orders | Per-order minima can be more important than the headline per-share or per-contract rate.Source 7 |
| Borrowing clients | The coverage requirement, permitted assets, monthly financing charge and expiry terms must all be read together.Source 10 |
ICAP’s basic-service fee language should be read narrowly: it describes access to common platform functions, not free investment execution. The most consequential account details are the applicable commission schedule, paid data level, overseas-market activation, financing agreement and the distinction between executed trades and settled cash.[5][7][8][10]
Sources & further reading
- Company history, ownership and revised licence Alistithmar Capital · Accessed 27 Oct 2026
- CMA directory: Alistithmar and Saudi Fransi Capital Capital Market Authority · Accessed 27 Oct 2026
- Brokerage markets, client-segment discounts and tariff link Alistithmar Capital · Accessed 27 Oct 2026
- Published Saudi, regional and international market offering Alistithmar Capital · Accessed 27 Oct 2026
- Opening sequence, free basic functions, reports and account transfers Alistithmar Capital · Accessed 27 Oct 2026
- Browser, telephone, smart-device and Pro 11 channels Alistithmar Capital · Accessed 27 Oct 2026
- Currently linked trading-fee PDF: retrievable US tariff section Alistithmar Capital · Accessed 29 Oct 2026
- Online trading terms: orders, currency conversion and termination Alistithmar Capital · Accessed 27 Oct 2026
- Account agreement: disclosed fees, taxes and intermediary-payment clauses Alistithmar Capital · Accessed 27 Oct 2026
- Published overdraft coverage and Murabaha structure Alistithmar Capital · Accessed 29 Oct 2026
- Customer-care contacts Alistithmar Capital · Accessed 27 Oct 2026
- Complaint channels and management unit Alistithmar Capital · Accessed 27 Oct 2026
- Investment Accounts Instructions amended 5 January 2026 Capital Market Authority · Accessed 27 Oct 2026
- Foreign Main Market access from 1 February 2026 Capital Market Authority · Accessed 29 Oct 2026
- Saudi share-commission maximum and removal of minimum, effective July 2016 Capital Market Authority · Accessed 27 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.