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Best Trading Platform in Iraq

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We do our best to offer a thorough annual forex broker review with the help of reliable research and testing strategies. Based on our studies, categories, and weightings, we found that trading in general is popular in Iraq.

Even though it’s recommended, Iraq brokers are not obligated to get authorization from the Capital Market Authority (CMA) to let residents trade with them.

The Capital Market Authority is the financial regulatory body in Iraq. You can verify their website here: https://cma.org.sa, or you can follow CMA on Twitter here: https://twitter.com/SAUDICMA.

The CMA was created back in 2003 to regulate and manage the Saudi Arabian Capital Market. You can discover additional information about the Capital Market Authority on Wikipedia.

Which Are The Top Trading Platforms In Iraq?

We put together a list with all brokers in Iraq that allow new customers to join. We used the Trust Score Ranking system to establish which brokerage firm is the best, as you can see down below:


TRADING PLATFORM

BENEFITS

ASSETS

#1

Highly sophisticated platform:
- easy to use
- perfect for beginners
- demo account for training purposes
- lots of different financial instruments
- Great research tools

- Forex, Metals
- Oil, Commodities
- Indices, Stocks
- ETF's, Gold
- Cryptocurrencies

#2

avatradee-1

- Dublin based forex broker
- Highly regulated and safe
- Multilingual support
- Lots of financial instruments
- 2Million transaction/month

- Forex
- Indices
- Stocks
- Cryptocurrencies
- Commodities
- ETF's

#3

- Forex
- Indices
- Stocks
- Cryptocurrencies
- Commodities
- ETF's

#4

plus500-logo

Highly regulated and safe platform:
- best for CFD trading
- Easy to use
- Perfect for beginners and advanced traders
- Low fees

- CFDs

#5

Quality platform:
- Highly regulated
- Beginners friendly
- Arabic/english support
- Low spreads from 0 pips
- 57 Currency pairs
- 500:1 Max leverage
- 25% bonus on first deposit

- Forex
- Indices, Energies
- Stocks/ Live Stocks
- Cryptocurrencies
- Commodities
- ETF's, Bonds
- Precious metals

#6

pepperstone-logos

Solid platform:
- AUD 200 account minimum
- from 0.0 peep fee
- Highest quality for Australian traders

- Forex, Indices
- Stocks/Live Stocks
- Cryptocurrencies
- Commodities

How We Classify Online Platforms For Iraq Citizens

In our opinion, a professional and reliable online platform must have a high trust score and fair fees. Besides, depositing money or opening an account must be a user-friendly process. We believe that a professional broker should provide access to a leading trading platform and a variety of instruments.

It is challenging to create a list of professional online brokers and platforms. But we do our best to review brokers based on more than 100 criteria with the help of real money and accounts. You can discover additional information about our ranking system in our methodology.

If you are not convinced about which broker or platform to use, you can check out our broker reviews. We classify everything based on the country and further criteria to determine which is the best broker for you. For additional details, you can look at our detailed “Top Forex Brokers” comparison list.

Keep reading to find out our review for the top international online brokers in 2020 for traders who live in Iraq. Let’s start with the top-ranking broker, IQ Option.

iq-options

IQ Option: Best for Options trading 

With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks, binary options, cryptocurrencies etc.

The trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate. 

avatrade

EASIEST TO USE: AVA Trade

For a start, Avatrade boasts some pretty impressive business statistics, facilitating over two million transactions every month, with total values regularly exceeding $60 billion in value. These transactions aren’t only limited to forex trading, but extends to other financial instruments such as digital currency, bonds, different binary options and CFDs.

etoro-logo

eToro: Best for Social Trading

eToro is an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.

eToro has been awarded as the best social trading platform - social trading means you can follow other traders and copy their investment strategies.

plus500-logo

Plus500: Best For CFD Trading

Plus 500 is a quality CFD's provider and operates around the world via its subsidiaries: Plus500AU, AFSL #417727 issued by ASIC, Derivatives issuer licence in New Zealand for NZ clients, FSP No. 486026; Financial Services Provider # 47546 in South Africa. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

XM-logo

XM: Best for Forex Trading

XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world.

With over 1.5 million clients in 196 countries, the XM global company focuses on three core principles:

Be big, Be fair, Be human.

How We Identify A Reliable Platform

These are the top five Iraq platforms in our review. And to make everything simple to understand, let’s discuss some particularities. Below, you can find everything you need to know about what an platform is and how we rank them based on safety, specific factors, and several other features.

Definition Of An Online Platform

If you took the time to think about the stock market thirty years ago, you would discover that everything was rather elementary. The only way you could purchase stock was by calling a broker. He would manage the transaction for a commission and check the stock costs and price fluctuations by phone. But thanks to the internet, you can purchase Apple shares, create an online account, use a brokers’ online platform, or deposit money with one click. So, online brokers are the ones to aid you in selling or purchasing securities, similar to stocks. As soon as you place an order, the online broker completes that purchase almost instantly.

What Are The Safety Risks Of Using An Online Broker in Iraq?

There are some brokers out there that are not safe and are scams. The brokers that are regulated by top-tier authorities are not scams. Also, many online brokers are featured on an exchange or come with a banking history. But even with top-tier regulations and security, you should always take into account that brokerage firms might go down. Remember the Lehman Brothers? It is more than necessary to know everything about your cash and securities. As a general rule, cash and securities are kept in segregated accounts, meaning that your money is kept safe from the company’s money.

Still, in case things go very bad, the broker could take your assets. Your only option may be accessing a compensation fund of the country that offered your broker’s authorization.

How We Chose The Best Trading Platforms For Iraq Residents

We do our best to analyze trading platforms based on more than 100 features with real money and accounts. So that you have an idea of how we set up our research, here are the top five criteria we used:

  • Fees – the standard trading fee for a US equity trade can turn out to be 50 times higher with a specific online broker compared to another. It is best to look carefully at a broker’s fees.
  • Account Creation – some online brokers will have you invest with a minimum deposit. But not all brokers have a minimum deposit. We recommend verifying such details before settling upon an online broker.
  • Withdrawal And Deposit – for some brokers, depositing money in your account can take five times longer, and it can turn out to be more expensive. Always verify your “all-in cost” before opening an account with a broker.
  • Markets And Products – brokers come with distinct product coverage. As an example, some won’t let you invest in Bitcoin or Amazon. Make sure you know the markets and products you’ll have access to.
  • Trading Platform – a straightforward trading platform can significantly boost your online trading experience. We recommend you opt for a trading platform that is both well-equipped and user-friendly.

Our Methodology

We took the time to analyze and compare the top 30 international trading platforms in 2020. So, 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 details. Our purpose was to offer you access to reliable, accurate, and well-researched 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.

Our Mission

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing. 

Methodology

The mission of Business24-7.ae is to provide comprehensive, unbiased ratings and reviews of online brokers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a broker’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Brokerages were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology about how we test.

Disclosure

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 how well you understand them and if you can afford to lose your money.

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