What mada is, and why it matters for funding a broker account
mada is the Saudi Arabian Monetary Authority's domestic debit card network — the default card issued with most Saudi bank accounts. It is separate from Visa and Mastercard, and while many Saudi banks now issue mada cards co-badged with Visa or Mastercard, a plain mada-only card does not automatically work everywhere Visa or Mastercard does.
For funding an international broker account, this creates a real, practical question that generic broker comparisons skip: does the broker's payment processor recognise mada directly, does it need the Visa/Mastercard co-badge to work, or do you need a different funding route entirely.
Funding methods for Saudi residents across our 3 brokers
| Broker | mada accepted | Visa/Mastercard | Bank transfer | E-wallets |
|---|---|---|---|---|
| XS | Not listed as a separate method — co-badged cards only | Yes — from $20, instant | Yes — from $300 | Skrill and Neteller, from $15 |
| Pepperstone | Via co-badged cards only | Yes | Yes | PayPal, Skrill, Neteller |
| Capital.com | Not listed by name — via co-badged cards | Yes | Yes | Apple Pay, Google Pay, Skrill, Neteller, USDT |
Co-badged mada cards: the practical workaround
Most Saudi banks now issue mada cards with a secondary Visa or Mastercard badge, precisely because plain mada does not process at every international merchant. When you deposit at a broker that doesn't list mada by name, check whether your physical card also carries a Visa or Mastercard logo — if it does, the deposit typically routes through that network instead, and the broker's system treats it as an ordinary Visa/Mastercard transaction.
This is the single most common way Saudi residents fund accounts at brokers that don't support mada natively. It is worth confirming with your bank which network badge is on your specific card before assuming either outcome.
- Check your physical or digital card for a Visa or Mastercard logo alongside the mada logo
- A co-badged card usually processes as Visa/Mastercard at brokers without native mada support
- Some card issuers restrict co-badged cards to domestic use only — confirm with your bank if a deposit is declined
- Bank transfer works regardless of card network, though it is typically slower than card funding
Pepperstone: strong regulation, standard card and bank-transfer funding
Pepperstone is regulated by the FCA, ASIC and CySEC among seven authorities — one of the more heavily regulated brokers on our list — and funds via co-badged Visa/Mastercard cards, bank transfer, PayPal, Skrill and Neteller. Once funded, it offers the widest platform choice of any broker we cover: cTrader, MT4, MT5 and TradingView, with spreads from 0.0 pips on the Razor account.
For Saudi residents, the practical route at Pepperstone is confirming your mada card's Visa or Mastercard co-badge, or funding via bank transfer if the card route is declined. See the Pepperstone review.