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    Militia Man & Crew Top 10 Best Forex Brokers in iraq 2024

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    Militia Man & Crew  Top 10 Best Forex Brokers in iraq 2024 Empty Militia Man & Crew Top 10 Best Forex Brokers in iraq 2024

    Post by Rocky Sun 03 Dec 2023, 11:17 am

    Top Best Broker Forex Review and Rating63 followersFollow""December 1, 2023""Open Immersive ReaderThe foreign exchange (forex) market is a global dece... ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  
    Militia Man & Crew  Top 10 Best Forex Brokers in iraq 2024 1696669275614?e=1709769600&v=beta&t=5iXjTuQM96Dj5IBqTNsrk_cdeY-thJiHDjmn-L5YDxg

    Top Best Broker Forex Review and Rating

    ""December 1, 2023""
    Open Immersive Reader
    The foreign exchange (forex) market is a global decentralized market for trading currencies. It is the largest and most liquid market in the world. Choosing the right forex broker is important as it can determine your trading experience and success. Here is a list of the top 10 best forex brokers in Iraq based on regulation, trading platforms, spreads, execution speeds and more.

    Exness - Best Overall Broker, Most Trusted

    Exness is regulated by FCA UK and CySEC, making it a reliable choice. Key features:
    • Tight spreads from 0.0 pips
    • Fast execution speeds under 30ms
    • $1 minimum deposit
    • MT4, MT5 and Exness CopyTrade platforms
    • 250+ tradable instruments

    Exness has earned trusts over the years with transparency, charting tools, webinars and blogs that empower traders. The unlimited demo account helps beginners gain experience risk-free.


    • Regulated broker
    • Low spreads
    • Fast execution
    • Many tradable assets
    • Good research tools


    • Limited payment methods
    • Higher minimum deposit for ECN accounts

    XM - Great Overall, Best for Professionals

    XM is regulated in several jurisdictions like ASIC and CySEC. Key features:
    • Ultra-low spreads from 0 pips
    • Speeds around 30ms execution
    • Minimum deposit starts from $5
    • MT4, MT5 and WebTrader platforms
    • 1000+ markets across forex, indices, commodities, shares etc.

    XM provides forex and CFD trading with award-winning execution speeds, fair trading environment and advanced charting tools suited for experienced traders.


    • Multiple regulation
    • Extremely fast execution
    • Low minimum deposit
    • Wide range of markets


    • Higher spreads for mini/micro accounts
    • Can have higher commissions

    XTB - Best Desktop Platform

    XTB is regulated by top-tier regulators like FCA. Here are the key features:
    • Low spreads from 0.1 pips
    • Speeds around 35 ms mark
    • Minimum deposit is $250
    • Proprietary xStation and MT4 platform
    • 2000+ instruments across asset classes

    XTB offers CFDs on forex, stocks, indices, ETFs, and commodities. Its xStation platform provides advanced tools like sentiment indicators along with MT4. The broker is best suited for active traders focused on desktop trading.


    • Multiple regulators
    • Good asset portfolio
    • Advanced desktop platforms


    • Limited market research tools
    • Higher spreads than competitors


    Avatrade is regulated in 6 jurisdictions like ASIC and FSC. Key aspects are:
    • Ultra competitive spreads from 0.9 pips
    • Execution speed around 60 ms
    • Minimum deposit starts from $100
    • AvaTradeGO app, MT4 and Custom platforms
    • 1000+ instruments across asset classes

    AvaTrade shines in trading costs, research tools like auto-trading algorithms and risk management tools. The educational webinars also help beginners skill up.


    • Heavily regulated globally
    • Excellent trading platforms
    • Comprehensive research capabilities


    • Slow execution speed
    • Stricter margin requirements


    HFM is an Iraq-based forex broker licensed by the Iraq Securities Commission. Here are some features:
    • Spreads from 1.2 pips
    • Local bank transfer options
    • Minimum deposit $100
    • MT4 and HFM Trader platforms
    • 60+ Forex pairs and metals

    HFM allows trading in forex, commodities and indices in a Sharia compliant manner. Customer support is also available locally in Arabic language besides English.


    • Local Iraq license
    • Arabic customer support
    • Islamic account available


    • Limited tradable assets
    • Spreads slightly higher


    FBS is regulated in Marshal Islands, offering:
    • Ultra-tight spreads from 0 pips
    • Speeds around 30ms mark
    • $1 minimum deposit
    • MT4 and FBS Trader platforms
    • 40+ currency pairs

    FBS caters well to beginner traders with features like $123 no deposit bonus, contests, affiliate programs and 24/5 support.


    • Regulated
    • Very low minimum deposit
    • Good for new traders


    • Less assets than competitors
    • Average spreads and execution


    OctaFX is regulated by CySEC with these attributes:
    • Floating spreads from 0.4 pips
    • Speeds around 30ms
    • Minimum deposit is $5
    • cTrader and MT4 platforms
    • 70+ Forex pairs and metals

    OctaFX focuses on forex trading experience with deep liquidity, fast executions, swap-free accounts option and Islamic accounts.


    • Regulated
    • Ultra-low minimum deposit
    • Swap-free accounts available


    • Few assets
    • Slightly higher spreads


    Fxpro holds licenses from FSCA, DFSA, SCB and more. Key highlights:
    • Typical spreads from 1.1 pips
    • Speeds around 30ms
    • $100 minimum deposit
    • MT4/MT5 and Fxpro Edge platforms
    • 300+ instruments across asset classes

    Fxpro offers No Dealing Desk spread model on cTrader platform allowing direct market access. It has won several awards for execution quality, trading conditions and risk management tools.


    • Highly regulated
    • Excellent trading platforms
    • Direct market access


    • Average spreads
    • Stricter margin requirements

    IC Markets

    IC Markets is regulated by ASIC, SCB and more with following features:
    • Raw spreads from 0.0 pips
    • Speeds around 30ms response
    • $200 minimum deposit
    • cTrader and MT4/MT5 platforms
    • 200+ markets across forex, indices, metals, commodities etc.

    IC Markets is an ECN forex broker with deep liquidity sourced from top tier banks and dark pools. Traders of all skill levels benefit from transparent pricing, advanced order types and risk controls provided.


    • ECN spread model
    • Ultra competitive spreads
    • Feature rich platforms


    • Higher minimum deposit
    • Limited payment options is regulated by top regulators like FCA UK, ASIC with these features:
    • Typical spreads from 1.0 pip
    • Speeds around 30 ms response
    • $50 minimum deposit
    • Advanced web, desktop MetaTrader and mobile platforms
    • 90+ FX pairs, metals, indices and commodities is one of the longest running US based retail forex brokers known for transparency, advanced trading tools, education and competitive pricing.


    • Established broker
    • Well regulated
    • Good research and education


    • Limited markets
    • Average spreads

    The Best Forex Broker in the World

    There is no definitive best forex broker in the world that suits every trader. However, some of the top contenders for the title include:
    XM - Offers ultra-low spreads from 0 pips, high regulation, fast 30 ms execution speeds, 1000+ tradable instruments across forex, commodities, indices, shares etc. making it popular especially among high volume traders.
    IC Markets - Known for its ECN spread model providing institutional grade liquidity and spreads from 0 pips. Advanced cTrader platforms and risk tools provide an edge to seasoned traders.
    Exness - Earns high trust owing to heavy FCA and CySEC regulation, transparency, lowest spreads from 0.0 pips, fast sub 30 ms execution speeds and rich research tools helpful to new traders.
    So in summary, brokers like XM, IC Markets and Exness stand out for offering optimal combination of regulation, low costs, platform technology and suited tools for active trading - all of which are helpful to succeed consistently.

    Which Broker Is the Best for Forex?

    The 'best' forex broker depends on individual trader's needs and preferences around factors like regulation, trading assets, costs, platforms, tools, customer support etc.
    However some of the most popular all-round brokers picked by both novice and expert traders are:
    • Exness - For heaviest regulation, tightest spreads and transparent pricing.
    • XM - For ultra-fast execution, most asset classes and platforms for volume trading.
    • IC Markets - For true ECN spreads and liquidity suitable to advanced traders.
    • AvaTrade - For the most comprehensive integrated trading platforms and automated trading tools.
    • XTB - For having advanced desktop and web platforms tailored to frequent traders.

    So in essence, identifying the best forex broker involves matching one's style of trading against strengths of different brokers in areas that matter most to you.

    Lowest Spread Forex Broker in Iraq

    The forex broker currently offering some of the lowest spreads in Iraq are:
    1. Exness - Offers spreads from an industry-best 0.0 pips on commissions account across currency pairs. Its spread-only account has spreads from 0.1 pip.
    2. XM - XM has spread-only pricing offering ultra-competitive spreads starting from 0 pips across over 50 major and minor pairs.
    3. FBS - FBS has zero spread account on metals and standard account has spreads from 1 pip. Raw spreads start from 0 pip with $4 commission per lot under ECN account.
    4. OctaFX cTrader - Has raw spreads from 0 pip + $3.5 commission per 100k traded with direct market access protocol. Its PRO ECN service brings institutional liquidity.
    5. IC Markets - A true ECN broker with spreads from 0.0 pip for indices and metals under cTrader Raw Account, influenced by institutional liquidity sources.

    So in summary, Exness, XM, FBS and OctaFX offer highly competitive interbank spreads helped by sheer volume, while IC Markets brings true ECN model closer to the institutional level.

    Best App for Forex Trading in Iraq

    The top mobile trading apps helping traders in Iraq stay connected and execute trades efficiently are:
    MetaTrader 4 and MetaTrader 5 - MT4 and MT5 mobile apps allow fast trade execution with advanced charting and analysis capabilties mirroring desktop experience. Widely supported by brokers like Exness, XM, HFM etc.
    AvaTradeGo - AvaTrade's proprietary iOS and Android app enables trading from charts, watching live news, performing technical analysis and trade automatically based on pre-defined strategies.
    cTrader Web - OctaFX, Pepperstone support cTrader web which brings full featured FX and CFD trading with superior UI/UX to all web browsers and mobile devices. Advanced Platform - mobile app provides advanced chart pattern recognition, risk management tools and integrated trading tools across live rates and charts bespoke to forex traders.
    So MetaTrader suite, AvaTradeGO, cTrader Web and app take the trading possibilities on-the-go to the next level for traders in Iraq.

    Top Forex Brokers in Iraq for Beginners

    Choosing the right beginner-friendly forex broker is vital for novice traders in Iraq to ensure smooth onboarding. Below brokers stand out:
    1. Exness – Trusted broker offering unlimited free demo account to practice, free forex VPS, lowest spreads from 0 pips, micro lots trading from 0.01, negative balance protection and 24/5 dedicated live support.
    2. XM – Regulated broker allowing micro lot trading from 0.01 size, 1:888 leverage for small traders, free VPS service, MetaTrader platforms and dedicated account managers to guide beginners.
    3. HFMLocally regulated broker in Iraq providing interest free swap-free accounts, Arabic translated platforms and dedicated account managers to guide traders in Iraq in Islamic compliant manner.
    4. OctaFX - Provides Islamic accounts option, swap free accounts, micro lot size 0.01, 50% deposit bonus and 24/5 multi-lingual support to help novice traders.
    5. FBS - Caters well to beginners with $0 deposit welcome bonus, rebates, contests, affiliate programs, MetaTrader platforms and learning resources for steady progress.

    The above Iraq forex brokers invest specially in customer support and learning tools to ensure beginners have a smooth start in building skills, confidence and experience.

    Best Forex No Deposit Bonus in Iraq

    Forex brokers in Iraq offer no deposit welcome bonus to allow traders to gain live market experience without committing own capital. Best offers are:
    FBS – Offers $123 no deposit forex welcome bonus credited to account instantly that can be withdrawn as per terms. Lets trader access live markets risk-free.
    Exness – Provides a $35 bonus to explore platforms and practice trading strategies that needs to be rolled over for withdrawal eligibility as per terms.
    Instaforex – Gives $1500 no deposit bonus for limited time that can be withdrawn subject to executing trades worth 15 standard lots.
    HFM (Iraq) – Local Iraq broker provides 25,000 IQD no deposit bonus for residents allowing live account experience in a swap-free environment.
    Opening a demo account with brokers like Exness and XM also allows endless virtual money to keep sharpening one's skills with real-time rates. So broker bonuses create opportunities to gain confidence and skills trading in forex markets before risking capital.

    Trading Platforms in Iraq

    The most widely available and reliable trading platforms offered by forex brokers in Iraq include:
    MetaTrader 4 (MT4) – The MT4 platform is the most popular with tools for advanced charting, technical analysis and Expert Advisors allowing automated trading. Supported by brokers like Exness, XM, HFM etc.
    MetaTrader 5 (MT5) – The next generation multi-asset MT5 platform has additional capabilities for trading indices, stocks, bonds, futures etc. Brokers like XM, Exness, OctaFX offer MT5 suite.
    cTrader – OctaFX, Pepperstone support cTrader web which brings full featured FX and CFD trading with superior UI/UX to all web browsers and mobile devices.
    Proprietary Platforms – Brokers like AvaTrade offer AvaOptions for automated trading, AvatradeGo app for mobile, AvaTradeAct for web integrated with third party trading tools and autoChartist analytical tools.
    So the MT4/MT5 remains most ubiquitous while traders can enjoy advanced capabilities on cTrader or custom platforms relevant to their trading strategy and setup.

    Best Forex Trade Xauusd in Iraq

    The symbol XAU/USD represents the gold versus US dollar pair i.e. price of gold quoted in American dollars. Some of the best brokers for trading XAU/USD pair in Iraq are:
    1. XM – Offers gold, silver commodity CFDs with leverage up to 1:1000, ultra low spreads from 25 cents, high regulation and negative balance protection policy.
    2. Exness – Allows trading gold and other metals with leverage up to 1:2000, minimum trade size 0.01 lots, and technical analysis tools helping traders of all experience levels.
    3. Avatrade – Its custom platforms besides MT4/MT5 provide automated trading tools like auto-chartist to spot opportunities, diversified order types, guaranteed stops loss orders helping manage XAU/USD trades better.
    4. OctaFX – Supports commodities trading with micro lot size 0.01, floating spreads from just 20 cents, swap free accounts option and deep liquidity from top institutions to allow efficient XAU/USD trading.

    So leading Iraq brokers now offer transparent pricing models, micro-lot trading, availability across platforms and advanced trading tools aiding metals CFD trading.

    How to Choose Best Forex Broker in Iraq

    Choosing the best forex broker in Iraq requires evaluating a combination of factors:
    Regulation - Always select locally regulated brokers or regulated internationally by top regulators like UK's FCA, AU's ASIC, and EU's CySEC that inspire confidence through compliance and licensing.
    Trading Conditions – Compare spreads, execution speeds, leverage ratios, minimum deposit and lot sizes etc. offered by brokers to identify one matching your volume, deposit capability and cost sensitivities.
    Platforms and Tools – Check what online, desktop, mobile platforms are provided, are they beginner friendly, do they provide charting, analysis and add-on tools relevant to your trading methodology like EAs on MT4/MT5 or cAlgo on cTrader etc.
    Customer Support – Evaluate availability of multilingual local phone/chat support, account management services, onboarding guidance for beginners and overall transparency in broker communications.
    Funding Methods – Examine what payment options are enabled to easily fund accounts online or through local banks and agents relevant to your countries and currencies you operate in. Evaluate any fees imposed.
    Matching trading preferences against broker strengths in above parameters can help identify the right fit at individual level rather than following crude popularity ranks alone.

    How Much Money Do You Need to Start Trading Forex?

    Forex trading allows starting small with many brokers providing micro and mini account options needing only around $50 to $100 as start capital for opening a live account.
    Additionally the following options are available for aspiring forex traders in Iraq with limited budgets currently:
    • Demo Account – Leading brokers like Exness, XM offer unlimited free demo account usable for as long as one wants to keep practicing strategies before going live when confident.
    • Micro Lots – Micro lots further lower the barrier to entry by allowing trades as little as 0.01 standard contract size bringing minimum risk as low as 10 cents per pip movement.
    • No Deposit Bonus – Traders can apply for no deposit bonus with brokers like FBS, Instaforex etc. that offers sign up forex bonus between $100 to $1500 ## How to Forex Trading for Beginners in Iraq

    Forex trading can appear intimidating to beginners in Iraq but can be simplied by following these steps:

    Learn the Markets

    • Research popular currency pairs, underlyings driving forex moves, risks factors involved through broker education portals, demo accounts, online resources and forex books for beginners.

    Find a Regulated Broker

    • Open a demo account with a regulated forex broker in Iraq like Exness, HFM or try international brokers like XM, FBS. Test their platforms, spreads, tools with virtual balance.

    Start with Demo Trading

    • Practice with demo accounts to become well-versed in how to place trades, make analyses, use risk management tools, set take profits and stop losses before venturing into live markets.

    Develop a Trading Plan

    • Based on learned combination of analysis methods, formulate a trading plan detailing entry rules, risk/reward ratios, position sizing approach matching your risk appetite and post-analysis process tracking what worked or not.

    Go Live with Real Money

    • Start live trading once confident by applying learnings & plan from demo experience. Start small position sizes, monitor emotions strictly, apply risk controls and review performance frequently as part of improvement cycle.

    Following these steps can help novice traders in Iraq skip many common mistakes and develop skills in risk-controlled manner. Reach out for help from brokers or mentors in Iraq whenever in doubt.

    Forex Trading Legal in Iraq

    Yes, Forex trading is completely legal, regulated and well integrated within Iraq’s financial framework allowing trading opportunities for its citizens in line with Sharia principles.
    Some key aspects about legitimacy of forex trading in Iraq:
    • Forex brokers in Iraq are regulated by Iraq Securities Commission ensuring proper licensing and oversight in without illegal brokerages infiltrating. Broker like HFM are examples of SEC regulated.
    • Locally regulated brokers provide Islamic/Swap-Free accounts that don’t earn or charge swaps in keeping with Islamic finance system principles. These accounts have certain Sharia standards allowing Iraq clients to trade.
    • Scams involving non-delivery of funds, unfair trade conditions etc. can be reported to SEC’s Investor Relations Office which pursues punitive legal action against offenses.

    So trading forex, commodities, indices and cryptocurrencies is legal in Iraq and traders must select either locally regulated brokers or trusted international ones to operate safely and avoid falling victim to outright scams.


    Below are some common questions about forex trading in Iraq:

    Is the Forex Market Open in Iraq?

    Yes the forex market operates 24X5 for almost entire week barring weekends. Iraqi traders can legally access brokers online enabling trading based on global market hours spanning Asia, Europe and Americas sessions even if local Iraq exchanges may close.

    Which Broker Should I Use as a Beginner?

    It is recommended new traders in Iraq use brokers like Exness, XM or local broker HFM which offer:
    1. Free demo accounts with virtual balance to build skills
    2. Islamic/Swap-free accounts options compliant to Iraq laws
    3. Low minimum deposits around $1 facilitating small real money trades
    4. Complete guides, tutorials, videos in Arabic besides English easing learning process
    5. Dedicated account manager guiding safe trading as per individual plan

    So education focused brokers with Islamic accounts, micro-lots trading and local assistance help kickstart one's journey smoothly.

    What Is the Minimum Deposit to Trade Forex?

    The minimum deposit amount varies across brokers but best brokers facilitate starting forex trading with deposit as little as $1 which allows taking small positions for micro lot accounts. For standard accounts, amount is around $50 to $250 in general across regulated brokers.

    Types of Forex Brokers

    There are a few main types of business models and account types seen with online forex brokers:
    Market Maker – A type of dealing desk broker that provides its own liquidity and sets its own bid/ask spreads rather than type of ECN broker having direct market access. Examples: Exness, XM
    ECN Broker – Brokers providing Electronic Communication Network allowing clients' trades to pass straight through to liquidity providers ensuring complete transparency. IC Markets, OctaFX offer ECN accounts.
    STP Broker – STP or Straight Through Processing brokers route traders' orders straight to its liquidity providers, matching best market prices without intervention. Pepperstone, FxPro offer STP execution.
    Above broker types have further variations in account offerings catering to wider trading needs:
    MT4/MT5 Platforms – MetaTrader 4 and 5 remains the most popular trading platforms offered by almost every retail forex broker for desktop and app-based access.
    Swap Free Islamic Accounts – These accounts don't charge any swaps fulfilling Islamic standard requirements. Useful to Muslim traders from regions like Iraq and Indonesia. Exness, XM support these account types.
    Micro Accounts – Help traders enter markets with as low as 0.01 standard contract size with proportionate lower margin rates facilitating affordability for smaller traders.
    Crypto Trading – Leading multi-asset brokers now allow trading major cryptocurrencies like Bitcoin, Ethereum, Ripple etc. against USD paired as CFDs or through dedicated exchanges integrated into platforms.


    I hope this detailed guide on researching the top forex brokers in Iraq across key parameters provides a blueprint to shortlist right brokers matching individual trader's needs and preferences at each experience level. Identifying strengths of brokers around regulation, spreads, platforms, tools, support etc can help new and seasoned traders alike trade efficiently. Please feel free to reach out for any other help or clarification needed when deciding your ideal broker.
    When information is put out on a Friday and if it is after markets are closed one can see that there using discretion. Putting out the data but, not in such a manner to have a significant impact. None the less, they put it out in public and not hiding it. The Brokers are putting this out for beginners and professionals alike. It looks like they are gearing for more business in and out of Iraq!!! They even have apps for trading on ones phone.
    This advertisement can be found anyones account in  They can find that they are advertising / talking about the best 10 FX brokers in Iraq for 2024, yet on December 01, 2023 they start the advertising on an end of bussiness Friday. Makes one think something is up. Finding data like this by MeetMeetOline in Patreon with Militia Man & Crew shows just how much value is being offered to patrons. Check them out for a month with very little risk and see the value in it. ~ MM

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      Current date/time is Tue 27 Feb 2024, 12:41 am