Best Forex Brokers in Iraq 2026
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top forex brokers in Iraq based on our analysis:
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AvaTrade - Best forex broker in Iraq - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 3
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Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 5
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 6
Moneta Markets - Wide selection of instruments. Modern trading platforms. High order execution speed. - 7
Deriv - Simple and fast account opening process. A wide variety of account types cater to different trading needs. Low commission structure. - 8
FBS - Regulated by major international organizations. Low spreads and commissions. Wide range of trading assets. - 9
- 10
FXOpen - Wide range of trading assets. Low spreads and commissions. Support for various trading platforms.
Whether you trade majors, minors, or CFD indices, these companies combine strong safety standards with flexible account types so you can focus on your strategy instead of worrying about the reliability of your broker.
Comparison of the Best Forex Brokers in Iraq
| Broker | AvaTrade | XM | IC Markets |
|---|---|---|---|
| Rating | 4.7/5 | 4.7/5 | 4.7/5 |
| Foundation Year | 2005 | 2009 | 2007 |
| Regulated in Countries | Ireland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, Canada | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles | Seychelles, Australia, Cyprus, Kenya |
| Regulators | |||
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| Trading Accounts |
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| Spread | from 0.6 points | from 0 points | from 0 points |
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| Review | AvaTrade Review | XM Review | IC Markets Review |
| Broker Comparison | |||
| Register | RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds |
List of the Top Forex Brokers in Iraq for 2026
1. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
2. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inactivity fee.
- Standard account has a higher spread than the market average.
3. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
4. Roboforex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
5. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
6. Moneta Markets
Moneta Markets is a modern broker offering a full range of Forex and CFD services. It facilitates both self-directed trading and copy-trading investments.
Traders benefit from multiple account types featuring low spreads, permitted scalping, and fast execution. This stable technical platform is bolstered by regular analytics, valuable services, and swift withdrawals.
Pros and Cons of Moneta Markets
Pros
- Wide selection of instruments.
- Modern trading platforms.
- High order execution speed.
- Attractive ECN account conditions.
Cons
- A deposit of at least $500 is required to access the educational course and advanced analytical tools.
7. Deriv
Deriv is an appealing choice for a wide array of traders, particularly those who are just beginning or are at an intermediate level. Its user-friendly approach, diverse platforms, and low-cost structure make it ideal for individuals seeking a straightforward trading experience. While it may not fully satisfy the needs of highly advanced traders due to some limitations in educational and analytical resources, Deriv's overall offering is solid, making it a reliable and accessible broker for most trading requirements.
Pros and Cons of Deriv
Pros
- Simple and fast account opening process.
- A wide variety of account types cater to different trading needs.
- Low commission structure.
- A wide range of trading platforms.
- High-quality technical support with fast and effective responses.
Cons
- Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
- Educational materials are confined to a blog and lack comprehensive learning resources.
8. FBS
FBS is a reliable choice for traders who value a secure and regulated trading environment, complemented by a robust selection of educational resources and trading tools. It is particularly well-suited for those new to trading or looking to expand their knowledge and experienced traders focusing on a diverse range of assets. Despite its limitations in account types and currency options, FBS's strengths in providing competitive trading conditions and comprehensive support make it a commendable broker for a broad spectrum of traders.
Pros and Cons of FBS
Pros
- Regulated by major international organizations.
- Low spreads and commissions.
- Wide range of trading assets.
- Extensive database of educational materials and analytical tools.
- Support for various trading platforms.
Cons
- Limited choice of trading accounts.
- Limited choice of account currency.
9. Admirals
The broker Admirals is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.
Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.
Pros and Cons of Admirals
Pros
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
10. FXOpen
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
Regulation of Forex Brokers in Iraq
Forex trading has become more popular in Iraq as internet and mobile access improve, but the local regulatory framework for retail forex and CFDs is still developing. The Central Bank of Iraq oversees the banking system and foreign-currency flows, yet most individual traders use international forex brokers that are licensed in other jurisdictions rather than locally.
Because of this, the level of protection for Iraqi residents depends largely on the foreign regulator, such as the FCA in the UK, CySEC in Cyprus, ASIC in Australia, or other recognised authorities. When evaluating a broker, Iraqi traders should check where the company is regulated, how client funds are held (for example, in segregated accounts), whether negative balance protection is offered, and what compensation schemes or dispute-resolution mechanisms are available.
How We Compiled the List of the Best Trading Platforms in Iraq
The selection of the best forex brokers for Iraq is based on balanced, transparent criteria:
- Regulation and safety – quality of licences, years in operation, and the broker’s track record.
- Trading costs – typical spreads, commissions, swaps, and non-trading fees that affect long-term profitability.
- Range of markets – availability of major and minor FX pairs, plus CFDs on indices, commodities, stocks, and cryptocurrencies.
- Platforms and tools – support for MetaTrader, cTrader, and proprietary web/mobile platforms, as well as tools for charting, automation, and social trading.
- Deposits and withdrawals – methods that work reliably from Iraq, with reasonable processing times and no excessive internal fees.
- Education and support – high-quality educational materials, market research, and responsive customer service in English and, where available, Arabic.
Only brokers that pass our security checks and make their services accessible to residents of Iraq are included. This way, our list of forex and CFD brokers offers trading conditions suitable for responsible participation in the global currency markets.
FAQ
Who is the best forex broker in Iraq?
There is no single broker that is perfect for every trader. The best forex broker in Iraq for you depends on your strategy, preferred platforms, and risk tolerance. Our ranking of the top forex brokers in Iraq highlights firms with strong regulation, competitive pricing, fast execution, and reliable customer support. Compare several options from our list and choose the one that best matches your personal trading style.
Is forex trading legal in Iraq?
Forex trading is generally allowed for residents of Iraq, but the market is not tightly regulated at the retail level. The Central Bank of Iraq focuses on supervising banks, payment systems, and official foreign-currency flows, while most individual traders use international brokers regulated abroad. Because of this, it is important to pick a well-regulated broker and to stay informed about any changes in local rules or tax obligations.
Is forex trading haram or halal?
Opinions among Islamic scholars differ. In general, exchanging currencies itself is not considered haram if it is done for a real economic need, the exchange is made at the current market rate, and settlement happens without delay. However, many forms of online forex trading involve elements that may be problematic from an Islamic perspective, such as interest (swap charges), excessive uncertainty, and speculation similar to gambling. To minimise these issues, all of the top forex brokers in Iraq offer Islamic (swap-free) accounts that remove overnight interest and adjust the fee structure. Even so, Muslim traders should check the exact account terms and consult a qualified Islamic scholar to decide whether a specific way of trading forex is acceptable for them.
Which forex trading platform is best for Iraqi traders?
Many of the brokers on our list offer MetaTrader 4 and MetaTrader 5, which are popular for their advanced charting, algorithmic trading, and large community of indicators and EAs. Others provide proprietary web and mobile platforms with simpler interfaces and built-in research tools. The best platform for you is the one that feels intuitive, is stable on your devices, and supports the order types and analysis tools your strategy requires.
Is $100 enough for forex trading?
A deposit of around $100 can be enough to start learning forex with micro-lot or cent accounts, but it is not a large amount for serious long-term trading. With such a small balance, even conservative position sizes will lead to noticeable percentage swings. Treat this capital as “tuition” for practising, never risk money you cannot afford to lose, and avoid unrealistic expectations like turning $100 into $1,000 quickly.
What are the 7 main forex pairs?
The most commonly traded major currency pairs are:
- EUR/USD – euro vs. US dollar
- USD/JPY – US dollar vs. Japanese yen
- GBP/USD – British pound vs. US dollar
- USD/CHF – US dollar vs. Swiss franc
- USD/CAD – US dollar vs. Canadian dollar
- AUD/USD – Australian dollar vs. US dollar
- NZD/USD – New Zealand dollar vs. US dollar
These pairs usually have the tightest spreads and deepest liquidity.
How do I choose a safe forex broker in Iraq?
Focus on safety first. Check that the broker is licensed by at least one well-known regulator, has a long track record, and offers clear information about fees and order execution. Look for segregated client accounts, negative balance protection, transparent margin rules, and reliable deposit/withdrawal methods that work from Iraq. Independent reviews and user feedback can also help you spot potential red flags.
Do forex brokers for Iraqi traders offer Islamic (swap-free) accounts?
Many international brokers that serve clients from Muslim-majority countries provide Islamic or swap-free accounts. These accounts remove overnight interest charges and may instead apply a fixed administration fee after positions are held for a certain number of days. Conditions differ by broker, so always read the account terms carefully and, if religious compliance is important to you, consider consulting an independent scholar.
What leverage do forex brokers usually offer to Iraqi residents?
Leverage levels vary widely. Some brokers operating under stricter regulators limit leverage for major currency pairs to around 1:30, while others serving Iraqi traders from offshore entities may offer 1:200, 1:500 or even more. High leverage magnifies both profits and losses, so using lower, controlled leverage is generally safer, especially for new traders.
When does the forex market open and close in Iraq time?
The global forex market runs continuously from late Sunday evening to late Friday night. In Iraq (UTC+3), this typically means trading becomes available late on Sunday and remains open 24 hours a day until Friday night, with the most active periods during the overlapping European and US sessions. Exact opening and closing Forex times can differ slightly between brokers and instruments.
What risks should beginners in Iraq consider before trading forex?
Forex trading is highly speculative and involves substantial risk. Key threats include high leverage, sharp market volatility, technical failures, emotional decision-making, and the possibility of dealing with poorly regulated or unregulated brokers. Before trading with real money, beginners should build a solid education, practise on a demo account, and understand that it is possible to lose most or all of the capital they deposit.
