Forex Iraq
Abstract： Forex Iraq is an unregulated brokerage with 1-2 years of establishment in Iraq and offers trading services to a global clientele. The company operates with a focus on Forex, shares, metals, commodities, and indices, catering to traders with three account types: Primitive, Progressive, and Prime. While the Primitive and Progressive accounts require a minimum deposit of $100, the Prime account sets a higher threshold at $50,000. Traders can access leverage up to 1:175, with varying spreads, the lowest being in the Prime account. Deposits and withdrawals are facilitated through E-Wallets, including AsiaHawala, ZainCash, PayPal, WebMoney, FastPay, and cryptocurrency. Forex Iraq primarily employs the MetaTrader 5 platform and offers customer support through emails and phone channels.
| Forex Iraq Review Summary | |
| Founded | 2022 |
| Registered Country/Region | Iraq |
| Regulation | Not regulated |
| Market Instruments | 60+ currency pairs, commodities, indices, stocks |
| Demo Account | ✅ |
| Leverage | Up to 1:100 |
| Spread | From 1.5 pips (Standard Account Type A) |
| Trading Platform | MetaTrader 5 (Desktop & Mobile) |
| Min Deposit | $50 |
| Customer Support | Address: Office #16, 2nd Floor, AB White Building, Gulan St., Erbil 44001, Iraq |
| E-mail: info@forexiraq.net | |
| Phone: +964-0770-198-9494, +964-0750-198-9494 | |
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
| Pros | Cons |
| Offers demo and Islamic accounts | Not regulated |
| Supports MetaTrader 5 on all devices | No clear info on deposit/withdrawal fees |
| Multiple funding options (crypto, e-wallets) | No MT4 or alternative platforms |
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.
| Tradable Instruments | Supported |
| Forex (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 Type | Min Deposit | Spreads | Leverage | Commission | Platform | Best For |
| Daily Trading A | $100 | 0.0 - 0.5 pip | 1:50 | $10 | MetaTrader 5 | Pro/active traders |
| Daily Trading B | $100 | 0.5 - 1.5 pip | 1:50 | $0 | MetaTrader 5 | Day traders avoiding fees |
| Standard Account Type A | $50 | 1.5 - 2.5 pip | 1:100 | $0 | MetaTrader 5 | Beginners, casual traders |
| Standard Account Type B | $50 | 0.5 - 1.0 pip | 1:100 | $15 | MetaTrader 5 | Swing traders, mid-volume |
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.
| Account Type | Spreads | Commission |
| Daily Trading A | 0.0 – 0.5 pip | $10/lot |
| Daily Trading B | 0.5 – 1.5 pip | $0 |
| Standard Account A | 1.5 – 2.5 pip | $0 |
| Standard Account B | 0.5 – 1.0 pip | $15/lot |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader 5 Desktop | ✔ | Windows, macOS | Advanced traders needing full desktop tools |
| MetaTrader 5 Mobile | ✔ | Android, iOS | Traders on-the-go who value flexibility |
| MetaTrader 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 Method | Min. Deposit/Withdrawal | Fees | Processing Time |
| AsiaHawala | $50 | Not mentioned | Not mentioned |
| ZainCash | $50 | Not mentioned | Not mentioned |
| PayPal | $50 | Not mentioned | Not mentioned |
| WebMoney | $50 | Not mentioned | Not mentioned |
| FastPay | $50 | Not mentioned | Not mentioned |
| Cryptocurrency | $50 | Not mentioned | Not mentioned |
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