9 Best Forex Brokers in Iraq
Last Update: April 30th, 2024
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. Moreover, an Inactivity Fee is charged.
| 🔎 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 is suited to 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, Advantage, Advantage Plus, Demo, and Swap-Free accounts | 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 best suited to 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 |
| 💴 Minimum Deposit | 200 USD |
| 💵 Inactivity Fee | None |
| 📌 Regulation and Licenses | ASIC, CySEC, FSA, SCB |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 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 is best suited to Beginners. 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 | 32, 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. Moreover, Bonuses are offered. 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 | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit 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.
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