9 Best Forex Brokers in Iraq
The 9 Best Forex Brokers in Iraq – Rated and Reviewed. We have listed the Top Forex Broker accepting Iraqi Traders.
In this in-depth article you will learn:
- The Best Forex Brokers accepting Iraqi Traders.
- Is Forex Trading Legal in Iraq?
- How to Trade Stocks in Iraq
- Best Islamic, Swap-Free Accounts for Muslim Traders
- Top MT4/MT5 Brokers for Beginners
and much, MUCH more!
9 Best Forex Brokers in Iraq – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Iraqi Traders | 💴 Min. Deposit (IQD) |
| 🥇 Admirals | 👉 Click Here | ✅Yes | 32678,88 |
| 🥈 AvaTrade | 👉 Click Here | ✅Yes | 130715,50 |
| 🥉 FXTM | 👉 Click Here | ✅Yes | 13071,55 |
| 🏅 XM | 👉 Click Here | ✅Yes | 6535,77 |
| 🎖️ FXCM | 👉 Click Here | ✅Yes | 65357,75 |
| 🥇 FP Markets | 👉 Click Here | ✅Yes | 83867,06 |
| 🥈 IC Markets | 👉 Click Here | ✅Yes | 261431,00 |
| 🥉 Pepperstone | 👉 Click Here | ✅Yes | 167734,13 |
| 🏅 Octa | 👉 Click Here | ✅Yes | 32678,88 |
9 Best Forex Brokers in Iraq (2024)
- ☑️ Admirals – Overall, the Best Forex Broker accepting Iraqi Traders
- ☑️ AvaTrade – Best Overall Offering
- ☑️ FXTM – Best Forex Broker for Beginners
- ☑️ XM – Low IQD Minimum Deposit
- ☑️ FXCM- User-Friendly Online Trading Experience
- ☑️ FP Markets – Best MetaTrader Forex Broker
- ☑️ IC Markets – Top Mobile Trading
- ☑️ Pepperstone – Best Broker for Advanced Traders
- ☑️ Octa – Best Islamic Account
Admirals
The Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC) regulate admirals. Admirals offers an Islamic account and makes mobile trading available via the Admirals app.
| 🔎Broker | 🥇Admirals |
| 💴Minimum Deposit | 25 USD |
| 🎉Established Year | 2001 |
| ⏰Support Hours | 24/5 |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, Admirals App |
| 📈Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | No 24/7 customer service |
Our Insights
Admirals best suit advanced traders. Furthermore, it offers six Trading Accounts. Moreover, the Trade.MT5 account has an Islamic Option.
AvaTrade
Several countries license and regulate AvaTrade. Accounts offered are Retail, Islamic, and, Professional. Furthermore, all trading platforms are proprietary.
| 🔎 Broker | 🥇 AvaTrade |
| 💴 Minimum Deposit | 100 USD |
| 🖱️ Account Types | Retail, Islamic, Professional |
| 🪙 Base Currencies | ZAR, USD, GBP, AUD |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅ Yes, referral bonus |
| ⏰ Support Hours | 24/5 |
| 💵 Currency Pairs | 51; Major, Minor, Exotic Pairs |
| 🤝 Affiliate Program | ✅ Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| 1,260+ instruments | Inactivity Fees |
| Islamic Account | Limited Deposits and Withdrawals |
Our Insights
AvaTrade suit a wide range of Traders. Furthermore, it offers Crypto Trading.
FXTM
FXTM is a highly regulated Forex Broker. Moreover, it offers a wide range of trading assets. An Islamic account is offered.
| 🔎 Broker | 🥇 FXTM |
| 💴 Minimum Deposit | 10 USD |
| 💵 Inactivity Fee | $5 after 6 months of inactivity |
| 🎁 Bonuses | Referral bonus |
| ⏰ Support Hours | 24/5 |
| 🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 📌 Account Types | Micro, Advantage, Advantage Plus |
| 💷 Base Currencies | USD, EUR, GBP, NGN |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Micro Account for Beginners | Inactivity Fee |
| Dedicated customer support teams | Fees apply to most withdrawal methods |
Our Insights
FXTM is suited to Novice Traders. Moreover, the minimum deposit of 10 USD is low.
XM
XM specializes in Forex and CFDs Trading. Moreover, it offers 55 Currency Pairs and excellent customer support.
| 🔎 Broker | 🥇 XM |
| 💴 Minimum Deposit | $5 USD |
| 🎁 Bonus Offers | ✅Yes |
| 📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
XM Best Suits Active Traders. Moreover, XM offers bonuses. Furthermore, the minimum deposit of 5 USD is Low.
FXCM
FXCM is regulated by FCA, ASIC, CySEC, and, the FSCA. It offers Islamic and Social Trading. Furthermore, MetaTrader 4 is offered.
| 🔍 Broker | 🥇 FXCM |
| 💵 Minimum Deposit | 50 USD |
| 4️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅ Yes |
| 🕰️ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Multitude of educational materials | High Currency conversion fees |
| Multiple Account Types | Narrow asset portfolio |
| 24-hour multilingual customer | Limited Trading Platforms |
Our Insights
FXCM is considered a Low Risk Broker. Furthermore, it is regulated by two Tier-1 Regulators.
FP Markets
FP Markets is a low-spread Forex Broker. Moreover, it offers Islamic Standard and Islamic Raw accounts. The minimum deposit set is AU$100.
| 🔎 Broker | 🥇 FP Markets |
| 💴 Minimum Deposit | AU$100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | Major, Minor, Exotic |
| 📌 Regulations | ASIC, CySEC, FSCA, FSA, FSC |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| FP Markets is regulated in several regions | There are limited instruments offered |
| MetaTrader, cTrader, and IRESS are available | research tools are not extensive |
| Tight Spreads | Withdrawal fees apply |
| There are low forex fees | No sign-up or no-deposit bonus |
Our Insights
FP Markets is ideal for Professional Traders. Moreover, Multiple trading platforms are offered. Furthermore, the AU$100 Minimum Deposit is High.
IC Markets
IC Markets offers an extensive range of financial instruments. Moreover, it is regulated by ASIC, CySEC, FSA, and, the SCB. A Minimum deposit of 200 USD is set.
| 🔎 Broker | 🥇 IC Markets |
| 📌 Year Founded | 2007 |
| 👤 Amount of Active Traders | Over 1 million |
| 📍 Publicly Traded | None |
| 🛡️ Regulation | FSA (Seychelles) |
| 🌎 Country of Regulation | Seychelles |
| 🔃 Account Segregation | ✅Yes |
| 🚨 Negative Balance Protection | ✅Yes |
| 🧾 Investor Protection Schemes | ✅Yes |
| 🅰️ Institutional Accounts | ✅Yes |
| 🅱️ Managed Accounts | None |
| 💴 Minor Account Currencies | Major and Minor |
| 💶 Minimum Deposit | 200 USD |
| ⚡ Average Deposit/Withdrawal Processing Time | Typically 1-2 business days |
| 💵 Fund Withdrawal Fee | Generally no fee |
| 🔖 Spreads From | From 0.0 pips |
| 💷 Commissions | Variable |
| 🪙 Number of Base Currencies Supported | 10+ |
| 💳 Swap Fees | ✅Yes |
| 🏷️ Leverage | Up to 1:500 |
| 🖇️ Margin Requirements | Varies |
| ☪️ Islamic Account | ✅Yes |
| 🆓 Demo Account | ✅Yes |
| 🖥️ Order Execution Time | Milliseconds |
| 💻 VPS Hosting | ✅Yes |
| 📈 CFDs Total Offered | Extensive Range |
| 📉 CFD Stock Indices | Major global indices |
| 🍎 CFD Commodities | Oil, gold, etc. |
| 📊 CFD Shares | Major global stocks |
| 💴 Deposit Options | Bank transfer, credit/debit, e-wallets |
| 💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets |
| 🖥️ Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| 💻 OS Compatibility | Windows, macOS, iOS, Android |
| 🖱️ Forex Trading Tools | Advanced charting tools, etc. |
| 🥰 Live Chat Availability | ✅Yes |
| ☎️ Customer Support Contact Number | Varies by region |
| 💙 Social Media Platforms | Twitter, Facebook, LinkedIn, |
| 😎 Languages Supported | Multiple Languages |
| ✏️ Forex Course | ✅Yes |
| 📔 Webinars | ✅Yes |
| 📚 Educational Resources | ✅Yes |
| 🤝 Affiliate Program | ✅Yes |
| 🫶 Amount of Partners | Numerous global partners |
| 🫰🏻 IB Program | ✅Yes |
| ↪️ Do They Sponsor Any Notable Events or Teams | ✅Yes |
| ⭐ Rebate Program | ✅Yes |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Affordable forex and CFD trading costs | High minimum deposit requirement |
| Comprehensive education and research | No investor protection for non-EU customers |
Our Insights
IC Markets is suited to all cost-conscious traders, Moreover, it combines low pricing with a low-latency trading environment.
Pepperstone
Pepperstone provides competitive spreads on Contracts for Difference trading. Moreover, the Accounts offered are Islamic, Standard, and, Razor.
| 🔎 Broker | 🥇 Pepperstone |
| 💴 Minimum Deposit | AU$200 |
| 📈 Account Types | Standard Account, Razor Account |
| 💵 Base Currencies | USD, GBP |
| 📉 Spreads | From 0.0 pips EUR/USD on the Razor Account |
| 📊 Leverage | 1:500 (Pro), 1:200 (Retail) |
| 💶 Currency Pairs | 70, minor, major, and exotic pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Our Insights
Pepperstone best suits Beginners and Casual Traders. Moreover, it provides responsive and friendly customer support. Furthermore, Customer support is available 24/7.
Octa
Octa is regulated in two Tier-2 and one Tier-3 jurisdictions. Moreover, Islamic and Social Trading are offered. Furthermore, MetaTrader 4 and 5 are offered.
| 🔎 Broker | 🥇 Octa |
| 💵 Minimum Deposit | 25 USD |
| 4️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅Yes |
| 🪙 Currency Pairs | 35, Major, Minor, Exotic Pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Powerful trading platforms | No Tier-1 Regulations |
| Diverse set of trading instruments | Demo Account expires after 30 Days |
Our Insights
Octa suits all traders. On occasion, Bonuses are offered and the minimum deposit set is 25 USD.
In Conclusion
Forex Trading in Iraq Has Potential. Multiple International Forex Brokers offer Islamic Accounts.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| 🥉 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Our Insights
Trading in Iraq is legal. We suggested selecting an International Broker. Moreover, the Iraqi Dinar is not an accepted base currency.
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Faq
Forex Trading is Legal in Iraq.
The local currency in Iraq is the Iraqi Rial.
Admirals is the Best Forex Broker in Iraq.
An Islamic Account is a halal trading account.
Forex Trading is Halal.
Haram means forbidden.
Islamic Forex Brokers are Brokers that offer Islamic Accounts.
Muslim investors can open an Islamic Forex account by contacting a broker’s Customer Support.
A swap-free account option is available for the Trade.MT5 account.
AvaTrade provides a full trading experience.
FXTM has worldwide offices in Cyprus, the United Kingdom, Nigeria, Kenya, and South Africa.
FXTM offers Mobile Trading for Android and iOS smartphones.
FP Markets offers over 10,000 trading items, including Forex, indices, commodities, and stocks.
IC Markets has an Islamic Account option with zero swap fees on overnight holdings.
Pepperstone’s website is available in English, Spanish, Russian, and Chinese.
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