Advertising Disclosure
Iraq Forex Brokers
-
Updated:
Iraq’s dominant economic sector in the country is oil trading. However, as other sectors fail to register substantial development, the economy in the country is not exactly thriving. Besides being plagued with war and political problems, Iraq has limited has access to international service providers such as forex brokers.
The official currency in Iraq is the Iraqi dinar.
What is Forex Trading Platforms Iraq?
Forex Trading is legal in Iraq. Iraqi Securities Commission (ISC) has the authority to oversee and regulated Iraq’s financial market, yet the Iraq Trading of Forex is not very well maintained and developed.
- Iraqi residents can trade with international brokers, in fact, due to the lack of domestic forex brokers, it is recommended that they consider trading with reputable international Forex brokers.
- However, the number of international brokers is limited as a result of the country’s political and economic instability, as well as the uncertainty in the regulatory environment. So many Forex Trading Platforms do not accept traders from Iraq, therefore good research is needed.
Read more about forex trading on Wikipedia.
| Iraq Trading Pros | Iraq Trading Cons |
|---|---|
| Access to Emerging Market | Political and Economic Instability |
| Diversification | Many International Brokers do not open Iraq Accounts |
| Potential High Returns | Lack of Forex Infrastructure |
| Large number of Forex Scams |
Iraq Forex Regulation
The financial sector of the country is controlled by the Iraqi Securities Commission. One of its main purposes is to oversee the financial sector also to control online trading. Yet, for Forex Trading, there are no regulations and set rules so it is very far from top-tier regulation like ASIC.
The official website of the Iraqi Securities Commission is www.isc.gov.iq you can also follow them on Facebook for regulatory updates.
Read some of our notes about Forex Trading in Iraq:
- Forex Trading is legal in Iraq, although the sector is not properly regulated. Because of this, there are plenty of scams and untrustworthy offerings, which means traders should be extra careful. (read our article about Forex Trading Scams)
- Iraq has faced significant political instability and economic challenges due to conflicts and fluctuations in oil prices. Which influence the currency exchange Forex rates with Forex News and add additional risks to Forex trading, thus Forex Trading is rather limited for Iraq residents
- Iraqi traders might face difficulties in accessing international Forex market too due to restrictions, including limited banking facilities and international sanctions.
- For this reason, We do not recommend trading with offshore-based forex trading platforms that are not regulated or licensed by reputable financial authorities. While some international brokers may offer services to Iraqi residents and attract with opportunities like no deposit bonus forex, it is crucial to exercise caution and conduct thorough research
Read Wikipedia article about ISC.
Top 5 Best Forex Brokers in Iraq
Our list of Brokers in Iraq includes only regulated brokers offering their service through their international branches, so considered to ensure safety. These brokers have been ranked based on specific criteria and their Trust Scores and are best option for Traders from Iraq in our opinion:
- BDSwiss — Best Overall Broker Iraq 2025
- XM — Best Iraq Forex Trading for Beginners 2025
- Trading 212 — Best Low Spread Broker in Iraq 2025
- Admiral Markets – Best for Scalping and EA Trading Iraq 2025
- XTB — Best Hedging Broker in Iraq 2025
Is Forex Available in Iraq?
Forex trading is available in Iraq, even though access it rather limited, especially when it comes to money transfer. Mainly Iraqi residents have option to trade in the foreign exchange market using international Forex brokers, as there are no specific laws prohibiting them from doing so.
Why is Iraq not Traded on the Forex?
Iraq being under unstable political situation still faces many of restrictions for International trade and is banned in many sectors. For Forex Trading and Financial operations, it is the case too many operations are restricted. Besides, Forex trading in Iraq is not regulated properly, thus it gives space to fraud and underhanded deals.
Are there Brokers that Accept Iraq Accounts?
There are brokers that accept traders from Iraq, however many impose restrictions to open accounts for Iraq residents. We recommend choosing from well-regulated and reliable international forex brokers for better protection like BDSwiss or XM.
List of Brokers for Forex Itaq
These are the regulated brokers that accept clients from Iraq mainly through their international branches, yet considered safe duue to additional regulation:
| Broker | Detail |
|---|
