Forex Iraq Forex Broker

Forex Iraq Review SummaryFounded2022Registered Country/RegionIraqRegulationNot regulatedMarket Instruments60+ currency pairs, commodities, indices, stocksDemo Account✅LeverageUp to 1:100SpreadFrom 1.5 pips (Standard Account Type A)Trading PlatformMetaTrader 5 (Desktop & Mobile)Min Deposit$50Customer SupportAddress: Office #16, 2nd Floor, AB White Building, Gulan St., Erbil 44001, IraqE-mail: info@forexiraq.netPhone: +964-0770-198-9494, +964-0750-198-9494Forex 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 ConsProsConsOffers demo and Islamic accountsNot regulatedSupports MetaTrader 5 on all devicesNo clear info on deposit/withdrawal feesMultiple funding options (crypto, e-wallets)No MT4 or alternative platformsIs 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 modificationsWhat Can I Trade on Forex Iraq? Forex Iraq offers 60+ currency pairs along with various commodities, indices, and stocks for trading.Tradable InstrumentsSupportedForex (60+ pairs)✅Commodities✅Crypto❌CFD✅Indices✅Stock✅ETF❌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.Account TypeMin DepositSpreadsLeverageCommissionPlatformBest ForDaily Trading A$1000.0 - 0.5 pip1:50$10MetaTrader 5Pro/active tradersDaily Trading B$1000.5 - 1.5 pip1:50$0MetaTrader 5Day traders avoiding feesStandard Account Type A$501.5 - 2.5 pip1:100$0MetaTrader 5Beginners, casual tradersStandard Account Type B$500.5 - 1.0 pip1:100$15MetaTrader 5Swing traders, mid-volumeLeverage 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.Account TypeSpreadsCommissionDaily Trading A0.0 – 0.5 pip$10/lotDaily Trading B0.5 – 1.5 pip$0Standard Account A1.5 – 2.5 pip$0Standard Account B0.5 – 1.0 pip$15/lotTrading PlatformTrading PlatformSupportedAvailable DevicesSuitable forMetaTrader 5 Desktop✔Windows, macOSAdvanced traders needing full desktop toolsMetaTrader 5 Mobile✔Android, iOSTraders on-the-go who value flexibilityMetaTrader 4❌--cTrader❌--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.Payment MethodMin. Deposit/WithdrawalFeesProcessing TimeAsiaHawala$50Not mentionedNot mentionedZainCash$50Not mentionedNot mentionedPayPal$50Not mentionedNot mentionedWebMoney$50Not mentionedNot mentionedFastPay$50Not mentionedNot mentionedCryptocurrency$50Not mentionedNot mentioned