The best trading platforms in Iraq are IQ Option, AVA Trade, Pepperstone, Saxo Bank, and XM. These brokers have different strengths and weaknesses. Traders will prefer Pepperstone over IQ Option. This article reviews the best brokers to make your decision easier. Our reviews use professional strategies and focus on the needs of Iraqi citizens. Keep reading to learn more.
Top 5 Online Brokers Of 2022 For Iraqi Citizens
The following list contains the leading platforms in Iraq. We used a Trust Score Ranking System to determine which option is the best. Without further ado this are the best trading platforms in Iraq:
- IQ Option is the number one broker for options trading in Iraq. It has the best offer.
- AVAtrade has the best web trading platform. It is best for beginners.
- Pepperstone is the leading social trading broker in Iraq. It has some of the lowest commissions on the market.
- Saxo Bank is the top broker for premium traders. It offers unique assets.
- XM is the best for forex traders.
Best Online Brokers In Iraq 2022
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||IQ Option||Best overall offer||4.9/5||Binary options||Official website|
|#2||AVAtrade||Best web trading platform||4.9||Beginners||Official website|
|#3||Pepperstone||Lowest trading fees||4.8/5||Low fees||Official website|
|#4||Saxo Bank||Best for premium traders||4.8/5||Unique assets||Official website|
|#5||XM||Best for forex trading||4.9||Forex trading||Official website|
Our TOP 5 Trading Platforms in Overview:
01. IQ Option: Best For Binary Options
IQ Option is a great online broker for options trading, know for its fast trade execution, low spreads, intuitive trading platform and great customer support.
IQ Option trading platform is intuitive and easy to use for traders at all levels. Both, mobile apps (Android and iOS) and desktop platform offer traders a variety of different tradable assets. These include cryptocurrencies, forex, stocks ETF’s, commodities, digital and binary options. Spreads and fees are competitive. Deposits and most withdrawal methods are free of charge. Smallest deposit is $10.
IQ Option offers excellent customer support in many different languages including Arabic. Traders from the UAE can use their online trading platform without any restrictions.
02. AVA Trade: The Best Beginner Platform For Iraqi Citizens
This broker offers average-to-competitive spreads and a broad variety of tradable instruments. Most of their trades are currency pairs and Contract for Difference (CFDs) over stocks. They allow trades of a dozen cryptocurrencies and a handful of options.
Deposits and withdrawals are free. Users can open accounts for 100 US dollars. There are fees for inactivity and overnight financing. A dedicated educational and research site, AvaTrade offers a broad variety of free courses, videos, and market analyses.
The broker provides several trading platforms. Each one is relevant for traders with different experience and skill levels. Our analysis found their customer support responsive. They are available through phone, email, and live chat.
03. Pepperstone: The Best Social Trading Broker In Iraq
Pepperstone is a reliable Forex and CFD broker, know for its diversity of trading platforms, industry leading pricing, fast account opening and great support. We recommend this broker to traders at all levels, from beginners to experienced traders.
Pepperstone is a top choice for Pakistani citizens and has low fees. It has premium security, no dealing desk, and a starting deposit of AUD 100. Pepperstone is part of the Pepperstone Group in Melbourne. It has an impressive number of active accounts that continue to increase. Pepperstone clients can reach the excellent customer service desk via:4/5 phone support, Chat support or FAQ section.
04. Saxo Bank: Best For Premium Trades And CFD Trading
Saxo Bank was founded back in 1992. It is a well-regulated bank, and it has six tier-1 licenses. These licenses are the reason why we ranked Saxo Bank as a low-risk CDF and forex trading broker.
If you are a trader that can afford a minimum deposit of USD 10,000 (or GBP 500 for the UK), an excellent forex broker for you is Saxo Bank.
Saxo Bank stands out since it provides a unique trading platform, competitive prices, professional research, more than 40,000 trading instruments, and outstanding customer service.
05. XM: Best For Forex Trading
XM.com is the best broker for forex and CFD trading. They offer the best Social Copy Trading opportunities through their full suite of MT4 and MT5 web, desktop (PC and Mac), and mobile (Android and iOS) platforms. XM Forex tools and accounts are suitable for both beginning and experienced traders. They have more than 1.5 million clients in 196 countries.
Their minimum opening fees range from $5 to $100 based on account type. XM Forex supports clients wanting to sample their platform with a Demo account. They provide auto-trading, fast order executions, multiple order types, and no hidden commissions. Their research group Tradepedia offers courses aimed at all levels. XM Forex customer service group is highly rated with e-mail, phone, and live chat 24/5. XM Forex Global Web-trade is regulated by CySEC (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investment Commission), IFSC and is considered a safe broker for trading forex and CFDs.
IQ Option, AVA Trade, Pepperstone, Saxo Bank, and XM are the best trading platforms in Iraq. Each Iraqi broker has a high trust score and transparent commissions. All brokerage firms included in our review have impressive offerings. Before choosing your trading platform, you should read our in-depth broker reviews.
Frequently Asked Questions (FAQ)
Creating a reliable online broker list requires attention to detail. We do our best to review each provider based on more than 100 data points. Our Methodology includes detailed information on our ranking system. We use live accounts in all our tests.
How Do We Identify A Reliable Platform?
We identified these reliable trading platforms using advanced analysis and criteria. These top five brokers received the highest Trust Scores and all have a 100% clean working history.
Safety Risks For Iraqi Citizens
Iraq traders have to assess safety risks before trading. Some brokers are not reliable. Such situations expose you to scams and financial loss. You can find out which brokers have top-tier licenses in our detailed reviews.
It is best to consider the possibility of a broker failing. Learning about assets can aid you in understanding the safety risks of trading.
Financial Regulatory Authority In Iraq
The Capital Market Authority is the financial regulatory authority in Iraq. Since 2003 the CMA is monitoring the Iraqi financial market. Authorization from the Capital Market Authority is not required for Iraqi online brokers. A CMA authorization makes a broker trustworthy.
The CMA website features all necessary trading information for Iraq: https://cma.org.sa/. You can follow the CMA’s Twitter account: https://twitter.com/SAUDICMA.
The purpose of the CMA is to manage and regulate the Saudi Arabian Capital Market. More information on this institution is available on Wikipedia.
How To Choose The Best International Trading Platforms For Iraq Residents
We used 105 unique criteria to choose top trading platforms for Iraqi residents. Each review involved real accounts and real money. The main categories evaluated were:
– Fees: The standard trading fees for a US equity are 50 times higher between brokers. It is best to check all our Iraqi broker reviews to lower your costs.
– Account Creation: Some Iraqi brokers ask for a sizeable initial deposit. We recommend you read about “all-in costs” before settling for an Iraqi broker.
– Withdrawal And Deposit: Depositing money in your account is time-consuming. Brokers charge a fee for depositing. Always verify your “all-in cost” before opening an account with a broker.
– Markets And Products: Each broker offers different asset coverage. Financial products and markets are different from one firm to another.
– Trading Platform: A straightforward trading platform is necessary for each online trader. It is best to choose a reliable and professional online trading platform.
We took the time to analyze and compare the top 30 international trading platforms. Each firm received its review based on 105 distinct variables and more than 50,000 words of research.
Keep in mind that broker involvement was optional. Each broker had the option to provide a detailed profile and offer adequate time for a yearly update meeting. This opportunity came with two possibilities: giving information over the web or live in person.
We checked all the information provided by brokers with a lot of attention to detail. Our purpose was to offer you access to reliable, accurate, and professional data. Our validation process comes with less than a 1% error rate per year, as all the reviews we share come with a focus on quality and not quantity.
General risk warning: All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider if you understand them and if you can afford to lose money.
If you liked this article than also read:
- Saudi Arabia
- 1 Top 5 Online Brokers Of 2022 For Iraqi Citizens
- 2 Our TOP 5 Trading Platforms in Overview:
- 3 Final Verdict