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9 Best Forex Brokers in Iraq

Last Update: April 30th, 2024

Forex Brokers 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

 

9 Best Forex Brokers in Iraq – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts Iraqi Traders💴 Min. Deposit (IQD)
🥇 Admirals👉 Click Here✅Yes32678,88
🥈 AvaTrade👉 Click Here✅Yes130715,50
🥉 FXTM👉 Click Here✅Yes13071,55
🏅 XM👉 Click Here✅Yes6535,77
🎖️ FXCM👉 Click Here✅Yes65357,75
🥇 FP Markets👉 Click Here✅Yes83867,06
🥈 IC Markets👉 Click Here✅Yes261431,00
🥉 Pepperstone👉 Click Here✅Yes167734,13
🏅 Octa👉 Click Here✅Yes32678,88

 

9 Best Forex Brokers in Iraq (2024)

 

  1. ☑️ Admirals – Overall, the Best Forex Broker accepting Iraqi Traders
  2. ☑️ AvaTrade – Best Overall Offering
  3. ☑️ FXTM – Best Forex Broker for Beginners
  4. ☑️ XM – Low IQD Minimum Deposit
  5. ☑️ FXCM- User-Friendly Online Trading Experience
  6. ☑️ FP Markets – Best MetaTrader Forex Broker
  7. ☑️ IC Markets – Top Mobile Trading
  8. ☑️ Pepperstone – Best Broker for Advanced Traders
  9. ☑️ OctaBest Islamic Account

 

Admirals Review

 

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 Deposit25 USD
🎉Established Year2001
⏰Support Hours24/5
💻Trading PlatformsMetaTrader 4, MetaTrader 5, Admirals App
📈Account TypesTrade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5
🚀 Open an Account
👉 Click Here

 

Admirals

 

Pros and Cons

 

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalNo 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 Review New

 

AvaTrade

 

Several countries license and regulate AvaTrade. Accounts offered are Retail, Islamic, and, Professional. Furthermore, all trading platforms are proprietary. Moreover, an Inactivity Fee is charged.

 

🔎 Broker🥇 AvaTrade
💴 Minimum Deposit100 USD
🖱️ Account TypesRetail, Islamic, Professional
🪙 Base CurrenciesZAR, USD, GBP, AUD
5️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes, referral bonus
⏰ Support Hours24/5
💵 Currency Pairs51; Major, Minor, Exotic Pairs
🤝 Affiliate Program✅ Yes
🚀 Open an Account
👉 Click Here

 

AvaTrade Overview

 

Pros and Cons

 

✅ Pros❌ Cons
1,260+ instrumentsInactivity Fees
Islamic AccountLimited Deposits and Withdrawals

 

Our Insights

AvaTrade is suited to a wide range of Traders. Furthermore, it offers Crypto Trading.

 

FXTM Review

 

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 Deposit10 USD
💵 Inactivity Fee$5 after 6 months of inactivity
🎁 BonusesReferral bonus
⏰ Support Hours24/5
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, FXTM Trader
📌 Account TypesMicro, Advantage, Advantage Plus
💷 Base CurrenciesUSD, EUR, GBP, NGN
🚀 Open an Account👉 Click Here

 

FXTM Review

 

Pros and Cons

 

✅ Pros ❌ Cons
Micro Account for BeginnersInactivity Fee
Dedicated customer support teamsFees apply to most withdrawal methods

 

Our Insights

FXTM is suited to Novice Traders. Moreover, the minimum deposit of 10 USD is low.

 

XM Review

 

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 TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
⏰ Support Hours24/7
🆓 Demo Account✅Yes
🚀 Open an Account
👉 Click Here

 

XM

 

Pros and Cons

 

✅ Pros❌ Cons
Low Minimum depositNo social trading features available
Unlimited Demo AccountInactivity Fees

 

Our Insights

XM Best Suits Active Traders. Moreover, XM offers bonuses. Furthermore, the minimum deposit of 5 USD is Low.

 

FXCM Review

 

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 Deposit50 USD
4️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes
🕰️ Support Hours24/5
🚀 Open an Account👉 Click Here

 

FXCM

 

Pros and Cons

 

✅ Pros❌ Cons
Multitude of educational materialsHigh Currency conversion fees
Multiple Account TypesNarrow asset portfolio
24-hour multilingual customerLimited Trading Platforms

 

Our Insights

FXCM is considered a Low Risk Broker. Furthermore, it is regulated by two Tier-1 Regulators.

 

FP Markets

 

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 DepositAU$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips
📉 Leverage1:500
💶 Currency PairsMajor, Minor, Exotic
📌 RegulationsASIC, CySEC, FSCA, FSA, FSC
5️⃣ Ease of Use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

FP Markets

 

Pros and Cons

 

✅ Pros❌ Cons
FP Markets is regulated in several regionsThere are limited instruments offered
MetaTrader, cTrader, and IRESS are availableresearch tools are not extensive
Tight SpreadsWithdrawal fees apply
There are low forex feesNo sign-up or no-deposit bonus

 

Our Insights

FP Markets is best suited to Professional Traders. Moreover, Multiple trading platforms are offered. Furthermore, the AU$100 Minimum Deposit is High.

 

IC Markets Review

 

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
💴 Minimum Deposit200 USD
💵 Inactivity FeeNone
📌 Regulation and LicensesASIC, CySEC, FSA, SCB
5️⃣ Ease of Use Rating5/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

IC Markets Our Insights

 

Pros and Cons

 

✅Pros❌Cons
Affordable forex and CFD trading costsHigh minimum deposit requirement
Comprehensive education and researchNo 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 Review

 

Pepperstone

Pepperstone provides competitive spreads on Contracts for Difference trading. Moreover, the Accounts offered are Islamic, Standard, and, Razor.

 

🔎 Broker🥇 Pepperstone
💴 Minimum DepositAU$200
📈 Account TypesStandard Account, Razor Account
💵 Base CurrenciesUSD, GBP
📉 SpreadsFrom 0.0 pips EUR/USD on the Razor Account
📊 Leverage1:500 (Pro), 1:200 (Retail)
💶 Currency Pairs70, minor, major, and exotic pairs
🚀 Open an Account
👉 Click Here

 

Pepperstone

 

Pros and Cons

 

✅ Pros❌ Cons
Fully digital account openingMostly CFDs offered
Great customer serviceBasic Trading Platforms

 

Our Insights

Pepperstone is best suited to Beginners. Moreover, it provides responsive and friendly customer support. Furthermore, Customer support is available 24/7.

 

OctaFX Review

 

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 Deposit25 USD
4️⃣ Ease of Use Rating4/5
🎁 Bonuses✅Yes
🪙 Currency Pairs35, Major, Minor, Exotic Pairs
🚀 Open an Account
👉 Click Here

 

Octa

 

Pros and Cons

 

✅ Pros❌ Cons
Powerful trading platformsNo Tier-1 Regulations
Diverse set of trading instrumentsDemo Account expires after 30 Days

 

Our Insights

Octa suits all traders. Moreover, Bonuses are offered. The minimum deposit set is 25 USD.

 

Iraq Forex Broker

 

In Conclusion

Forex Trading in Iraq Has Potential. Multiple International Forex Brokers offer Islamic Accounts.

 

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewCySEC, MISA, FSCAUSD 5Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker >>

 

Our Insights

Trading in Iraq is legal. However, it is suggested to select an International Broker. Moreover, the Iraqi Dinar is not an accepted base currency.

 

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Frequently Asked Questions

 

Is Forex Trading Legal in Iraq?

Forex Trading is Legal in Iraq.

 

What is the local currency in Iraq?

The local currency in Iraq is the Iraqi Rial.

 

Who is the best Forex Broker in Iraq?

Admirals is the Best Forex Broker in Iraq.

 

What is an Islamic Forex Account?

An Islamic Account is a halal trading account.

 

Is Forex Trading Halal or Haram?

Forex Trading is Halal.

 

What does the term Haram mean?

Haram means forbidden.

 

What are Islamic Forex Brokers?

Islamic Forex Brokers are Brokers that offer Islamic Accounts.

 

How do I open an Islamic Account?

Muslim investors can open an Islamic Forex account by contacting a broker’s Customer Support.

 

Does Admirals offer an Islamic Account?

A swap-free account option is available for the Trade.MT5 account.

 

What kind of trading experience does AvaTrade offer?

AvaTrade provides a full trading experience.

 

How many global offices does FXTM have?

FXTM has worldwide offices in Cyprus, the United Kingdom, Nigeria, Kenya, and South Africa.

 

Does FXTM offer Mobile Trading?

FXTM offers Mobile Trading for Android and iOS smartphones.

 

What types of trading instruments does FP Markets offer?

FP Markets offers over 10,000 trading items, including Forex, indices, commodities, and stocks.

 

Can I open an IC Markets Islamic Account?

IC Markets has an Islamic Account option with zero swap fees on overnight holdings.

 

Is the Pepperstome website multilingual?

Pepperstone’s website is available in English, Spanish, Russian, and Chinese.