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Forex Iraq Information

Forex Iraq is an unregulated broker founded in 2022 and registered in Iraq. It offers a variety of trading instruments including forex, indices, commodities, and stocks via MetaTrader 5. It supports Islamic and demo accounts, however it is unregulated.

Pros and Cons

Is Forex Iraq Legit?

Forex Iraq is not regulated as a forex or CFD broker in its registered country, Iraq. Furthermore, it does not hold licenses from any internationally recognized regulatory bodies such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), or CySEC in Cyprus.

According to the WHOIS database, the domain forexiraq.net was registered on January 20, 2022, and is set to expire on January 20, 2026. The domain was last updated on January 28, 2025, and is currently protected against unauthorized modifications

What Can I Trade on Forex Iraq?

Forex Iraq offers 60+ currency pairs along with various commodities, indices, and stocks for trading.

Account Types

The broker offers a total of four live account types: Daily Trading A, Daily Trading B, Standard Account Type A, and Standard Account Type B. In addition to live accounts, the broker also provides a demo account for practice and Islamic (swap-free) accounts upon request.

Leverage

The broker offers maximum leverage of up to 1:100, depending on the account type. Leverage allows traders to control larger positions with a smaller amount of capital, which can significantly amplify both profits and losses.

Forex Iraq Fees

Forex Iraqs trading fees are generally competitive compared to industry standards. The broker offers tight spreads on certain accounts—as low as 0.0 pip on Daily Trading A, though it charges a $10 commission. Other accounts offer wider spreads but are commission-free or have different fees, like Standard Account B which has 0.5–1.0 pip spreads with a $15 commission. Islamic (swap-free) accounts are available upon request.

Trading Platform

Deposit and Withdrawal

Forex Iraq does not clearly state if they charge deposit or withdrawal fees; traders are advised to confirm with customer service. The minimum deposit is $50, depending on the account type.