Traders Union (TU) analysts have prepared a comparative analysis of the best brokers Iraq in 2024. Experts performed the analysis taking into account the specifics of trading in the country. In their evaluation, TU experts use over 100 criteria that are split into groups. They have collected all the necessary data providing a possibility for novice traders from Iraq to give an unbiased evaluation to a broker. Using this information, a user can choose the company that meets his criteria.
The Most Reliable Brokers Iraq by TU include the following:
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option is an unregulated broker focused on cooperating with professional traders who do not need training or additional bonuses.
AMarkets is a broker that is more suitable for professional trading. Everything here is designed to accommodate trading with EAs and that is the broker’s strength. The weakness of the broker is that it won’t be easy for traders without experience to work here.
Tradeview Markets is a Forex trading and passive investing broker focused on clients in Europe, Southeast Asia, and Canada.
AdroFx works with both MetaTrader 4 and Allpips. Flexible conditions for choosing an account type provide this company's clients with comfortable trading, while its fee policy is at the top level, and in certain moments even more profitable. Leverage, minimum trade volume, and stop-outs are quite typical for the segment. Negative balance protection and a personal account manager for all account types are available. Experts also note convenient copy trading and prompt technical support as an advantage. However, this broker has regional restrictions, and all assets are CFDs.
Best forex brokers for beginners in Iraq in 2024
| RoboForex | Pocket Option | AMarkets | Tradeview | AdroFX | |
|---|---|---|---|---|---|
Trading platform |
МТ4, МТ5, R StocksTrader, R MobileTrader, R WebTrader |
МТ5, proprietary platform |
МТ4, МТ5 (all modifications), AMarkets App |
МТ4 (desktop, mobile, web), МТ5 (desktop, mobile), cTrader, CurreneX, Sterling Trader |
MetaTrader 4 and Allpips |
Min deposit |
$10 |
$5 |
$100 |
$100 |
$25 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Accrual of % on the balance |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 0.0 points |
From 1.2 points |
From 0.0 points |
From 0.0 points |
From 0.3 points |
Level of margin call / stop out |
60% / 40% |
30% / 50% |
50% / 20% |
100% / 0% |
10% / 5% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
Cent accounts |
Yes |
No |
No |
No |
Yes |
There are certain specifics in trading, which novice traders residing in the territory of Iraq need to know about:
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Novice traders need educational courses. The bigger the educational blocks, the more useful knowledge you will gain.
-
Take notice of the availability of a demo account or a cent account. Traders can use these accounts to practice without considerable costs. A demo account allows you to work with virtual money, and a cent account - with micro lots, where your profit or loss amounts to just several dollars or even cents.
-
When choosing a broker, it is important to evaluate its fees schedule. Novice traders should check out the fees on cent or basic accounts.
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If a novice trader professes Islam, he needs to make sure that an Islamic account is available. it is a special swap-free account that does not violate the Sharia law.
1
Best Forex broker for beginners in Iraq - RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders from Iraq:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders from Iraq:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
RoboForex Commissions & Fees for traders from Iraq
RoboForex charges trading fees. The fees are charged as the spread. In the fees review for traders from Iraq, you can learn about their rates depending on the account type.
RoboForex Commissions and Fees in Iraq
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Pro |
$13 |
No |
Pro-Cent |
$13 |
No |
ECN |
$3 |
No |
Prime |
$1 |
No |
2
Best Forex broker for beginners in Iraq - Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
👍 Advantages of trading with Pocket Option for traders from Iraq:
•low threshold for entering the market; the first deposit starts at $5;
•social trading platform generates passive income.
👎 Disadvantages of Pocket Option for traders from Iraq:
•not licensed by any reputable regulator;
•to trade Forex through MetaTrader 5, you need to deposit at least $1,000;
•support service responds within 24-48 hours, which is also too slow.
Pocket Option Commissions & Fees for traders from Iraq
Pocket Option charges trading fees. The fees are charged as the spread. In the fees review for traders from Iraq, you can learn about their rates depending on the account type.
Pocket Option Commissions and Fees in Iraq
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Novice trader |
No |
Yes, when withdrawal with Perfect Money |
Beginner |
No |
Yes, when withdrawal with Perfect Money |
Experienced |
No |
Yes, when withdrawal with Perfect Money |
Master |
No |
Yes, when withdrawal with Perfect Money |
Professional |
No |
Yes, when withdrawal with Perfect Money |
Expert |
No |
Yes, when withdrawal with Perfect Money |
MT5 Forex |
From 1.1 pips |
Yes, when withdrawal with Perfect Money |
3
Best Forex broker for beginners in Iraq - AMarkets
AMarkets provides a wide range of trading instruments, including Forex, stocks, commodities, and cryptocurrencies.
With average execution speeds of 35-50ms and floating spreads from 0 pips on the ECN account, it implements a low-latency environment suitable for high-frequency and scalping strategies. Leverage up to 1:3000 is available across account types. Traders can utilize advanced analytical tools like AutoChartist, Trade Analyzer, Sentiment Indicator, and a large database of EAs. The broker’s copy trading platform allows investors to seamlessly copy successful trading strategies. While offshore regulated, the broker offers additional security through a compensation fund and independent third-party audits.
AMarkets provides a robust environment for those looking for advanced trading conditions.
👍 Advantages of trading with AMarkets for traders from Iraq:
•Order execution speed is 35–50 ms (average market indicator is 200–500 ms);
•Average market spreads from 0.3 pips (average market indicator is from 0.5 pips);
•Newest passive investment platform – AMarkets Copy Trading;
•A set of analytical tools, including signals, risk management tools, and algorithmic trading, is integrated into the user account;
•Compensation fund of up to EUR 20,000 per each client.
👎 Disadvantages of AMarkets for traders from Iraq:
•Expert advisors with basic settings are unprofitable. Launching templates without preliminary testing is strongly not advised.
•There is no information about how the rating of managers is formed and how much can the provided statistics be trusted;
•Absence of a regulatory license. The broker is registered in Saint Vincent and the Grenadines, but there is no information about the license from a regulator. The Financial Commission does not issue licenses.
AMarkets Commissions & Fees for traders from Iraq
AMarkets charges trading fees. The fees are charged as the spread. In the fees review for traders from Iraq, you can learn about their rates depending on the account type.
AMarkets Commissions and Fees in Iraq
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
from 13$ |
Yes |
Fixed |
from 30$ |
Yes |
ECN |
from 0$ |
Yes |
Crypto |
from 13$ |
Yes |
4
Best Forex broker for beginners in Iraq - Tradeview
Tradeview Markets is an ECN and CFD broker that has been operating since 2004. The company offers trading with 5 asset classes. There is also a separate Tradeview Markets unit providing stock CFD trading services. The office is headquartered in the Cayman Islands. Over 100 000 clients from different countries use the broker’s services. The broker operates under a financial services license issued by the Cayman Islands Financial Regulator (CIMA, 585163) and the Malta Financial Services Authority (MFSA, C 93990).
👍 Advantages of trading with Tradeview for traders from Iraq:
•Over 100 trading instruments.
•Spreads from 0.1 pip.
•Five types of trading terminals.
•Access to the cTrader Copy service.
•Low threshold for entering the market from $100.
👎 Disadvantages of Tradeview for traders from Iraq:
•Limited training.
•Technical support works 24/5 only.
•There are withdrawal fees.
Tradeview Commissions & Fees for traders from Iraq
Tradeview charges trading fees. The fees are charged as the spread. In the fees review for traders from Iraq, you can learn about their rates depending on the account type.
Tradeview Commissions and Fees in Iraq
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
X Leverage Account |
from $2 |
Yes |
Innovative Liquidity Connector |
from $0 |
Yes |
5
Best Forex broker for beginners in Iraq - AdroFX
AdroFx offers contracts for difference (CFDs) on currency pairs, stocks, indices, cryptocurrencies, and metals. Traders can open accounts on MetaTrader 4 or Allpips platforms. There are 8 account types, with a demo option for each. The minimum deposit is $25, leverage is up to 1:500, and trading volume is from 0.01 lots and from 0.0001 lots for Micro. Spreads are floating from 0.4 pips. Also, there are neither trading fees nor withdrawal fees, if the withdrawal amount meets or exceeds the minimum amount. The basic currencies are the USD, EUR, and GBP. BTC and ETH cryptocurrencies are available for Allpips. AdroFx provides loyal starting conditions due to special bonuses and promotions. There is a referral program and an integrated copy trading service.
👍 Advantages of trading with AdroFX for traders from Iraq:
•Large choice of account types on two platforms allows for choosing the most individualized options for each trader;
•This broker guarantees a transparent fee policy with below-market average fees and no withdrawal fees subject to market conditions;
•Registration takes a few minutes, verification is also fast, and bonuses significantly reduce the entry threshold for new clients;
•Extensive pool of assets combined with moderate leverage provides flexible trading conditions and high-profit potential;
•This company provides trading guides, regularly posts educational videos, and has analytics and trading signals;
•The copy trading service is transparent and intuitive, and it allows you to receive additional income and trade with reduced risks;
•Technical support is available 24/5 by phone, email, live chat, and tickets on the website.
👎 Disadvantages of AdroFX for traders from Iraq:
•There are only CFDs in this broker's trading pool;
•This company provides its services in over 200 regions, but residents of Suriname, North Korea, Syria, and some other countries cannot become its clients;
•Technical support is rated as up-to-date, however, it is not available on weekends.
AdroFX Commissions & Fees for traders from Iraq
AdroFX charges trading fees. The fees are charged as the spread. In the fees review for traders from Iraq, you can learn about their rates depending on the account type.
AdroFX Commissions and Fees in Iraq
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Micro |
$2 |
No |
Micro Pro |
$4 |
No |
Cent Pro |
$4 |
No |
Standard |
$12 |
No |
Fiat |
$4 |
No |
Crypto |
$4 |
No |
Premium |
$4 |
No |
Pro |
$4 |
No |
Fees and Commissions
When choosing a broker, it is very important to evaluated the structure of its fees. The fees are the main source of income for brokerage companies.
The brokers usually charge two finds of fees: spread and lot fee.
Spread is more popular than the lot fee. However, the type of fee depends on the trading account. Make sure you review the conditions.
The lowest spreads are always found on ECN accounts. Availability of such account types is an important advantage for any broker.
The type of fees can depend on your trading strategy, but a detailed calculation needs to be performed anyway.
The fees charged by brokers often vary depending on the trading account type and also the instruments a trader works with. The higher the popularity and liquidity of certain instruments, the narrower the spreads or the lower the fees per lot.
Summary
Choosing the right broker is not a simple task for new traders in Iraq, as they have to take into account many nuances. Each of those could considerably impact your trading successes or your profit. Trading instruments that the broker offers traders from Iraq, trading conditions and the quality of educational materials need to be evaluated. Availability of a demo account or a cent account you can use to practice is an important advantage. Keep in mind that before opening a position, you need to assess its risk level.
Top Forex brokers for beginners in 2024 for traders from Iraq
| RoboForex | Pocket Option | AMarkets | Tradeview | AdroFX | |
|---|---|---|---|---|---|
Overall score |
8.86 |
6.87 |
7.51 |
5.73 |
4.74 |
Execution of orders |
8.95 |
9.52 |
8.4 |
4.01 |
2.89 |
Investment instruments |
9.73 |
4.29 |
8.2 |
3.97 |
3.6 |
Withdrawal speed |
9.71 |
9.64 |
6.57 |
7.43 |
7.14 |
Customer Support work |
9.17 |
4.38 |
8.07 |
6.31 |
3.99 |
Variety of instruments |
8.75 |
6.01 |
7.37 |
7.02 |
7.02 |
Trading platform |
6.86 |
7.38 |
6.44 |
5.61 |
3.81 |
FAQ
What amount does a novice trader need in order to start trading?
It depends on the account type. For a cent account, USD 50 is enough. For trading on a real account, it is better to deposit at least $300-500.
How do I choose a reliable broker Iraq?
According to the requirements of country Iraq, a broker must disclose all information, including the name, registration data, legal address, etc. License for financial activity is the key document.
Should I accept the bonuses for beginners?
Bonuses for beginners can make trading more profitable, but before accepting a bonus, make sure you read the conditions for receiving bonuses by traders from Iraq.
Can a beginner earn passive income in the Forex market while he is learning?
Yes. For example, you can use PAMM accounts or copy trading platforms. Make sure that these kinds of investment opportunities are available for traders from Iraq.
Best Forex Brokers for Beginners by Countries
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.