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Do you want to find the best trading platform in Iraq?
Our broker reviews use a database of 105 brokers in 9 categories for this review of the Best Trading Platform in Iraq. The categories we use include platforms, assets, fees, deposits & withdrawals, mobile trading apps, customer support, regulation, research & education, and Islamic account availability.
With 214 variables and 3500 data points, we show you the Best Trading Platform in Iraq.
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 these are the best trading platforms in Iraq:
Top 5 Online Brokers Of 2023 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 these are the best trading platforms in Iraq:
- AVAtrade has the best web trading platform. It is best for beginners.
- Capital.com is top choice for traders looking for a discount broker
- Interactive Brokers is Best For Stocks and ETFs
- Saxo Bank is the top broker for premium traders. It offers unique assets
- Pepperstone is the leading social trading broker in Iraq. It has some of the lowest commissions on the market.
Best Online Brokers In Iraq 2023
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
| #1 | AVAtrade | Best web trading platform | 4.8 / 5 | Beginners | Official website |
| #2 | Capital.com | Award winning education and research section | 4.7 / 5 | Discount broker | Official website |
| #3 | Interactive Brokers | Industry leading fee structure | 4.9 / 5 | Best For Stocks and ETFs | Official website |
| #4 | Saxo Bank | Best for premium traders | 4.8/5 | Unique assets | Official website |
| #5 | Pepperstone | Lowest trading fees | 4.8/5 | Low fees | Official website |
Our TOP 5 Trading Platforms in Overview:
1. AVAtrade – The Best Beginner Platform For Iraqi Citizens
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
AVAtrade is a well trusted global online broker for forex and CFD trading. Their multi-asset trading platform and mobile trading app enable traders to access 1365+ tradable symbols overall, including 1200+ CFD’s, major currency pairs with low forex spreads and premium options.
Beside their proprietary platform AVAtradeGo and MetaTrader, AVAtrade has great selection of copy trading solutions including ZuluTrade, DupliTrade and AVAsocial.
Account opening is fast, deposits and withdrawals are free of charge. The minimum deposit is $100.
Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs, options or CFDs as stocks, cryptos, indices or commodities with premium services.
Pros
- Great Research and Educational tools
- Great Customer support
- Good choice of social trading options
Cons
- Comparing others relatively few trading instruments are offered; offers Forex, CFDs and Binary Options
Key features
- Access to 1250 CFDs and 44 forex options
- Excellent copy trading features
- Advanced mobile trading app (AvaOptions)
- Industry average pricing
- Perfect for casual and advanced traders
- Access to the full meta trader suite
2. Capital.com – Top choice for traders looking for a discount broker
Min Deposit: $20
Fees: 4.8
Assets available: 4.7
Total Fees:
Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.
Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.
Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.
Pros
- Newsroom grade educational videos and analysis
- Award winning education and research section
- New age mobile trading app
- Real time market updates and price alerts
- Hedging and risk management tools
Cons
- MT4 and MT5 not available
- Market access is industry average
Key features
- Access to 6.000 tradable symbols and 477 cryptocurrency CFDs
- High quality research and educational content
- Patented AI trade bias system
- $20 minimum deposit
- No inactivity fees
3. Interactive Brokers – Best For Stocks and ETFs
Min Deposit: 0 ($2000 for margin account)
Fees: 4.9
Assets available: 4.9
Total Fees:
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.
Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
Pros
- Best market coverage in the industry (100k+ assets on different instruments)
- Access to 16,500 shares and 8,000 stocks as CFDs
- Professional trading platform suitable for different types of traders
- Intuitive and easy to use mobile trading app
- Industry leading fee structure
- Compatible features for casual and professional traders
- Responsive customer support
Cons
- Few deposit and withdrawal options
- Research and education materials missing
Key features
- Margin loan rates on stocks of 1.3%
- Access to 135+ global markets
- Advanced order types, tools and features
- Access to frictional shares
- Lowest commissions in the industry
4. Saxo Bank – Best For Premium Trades And CFD Trading
Min Deposit: $2000
Fees: 4.7
Assets available: 4.9
Total Fees:
69% of retail investor accounts lose money when trading CFDs with this provider.
Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.
If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.
Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.
Pros
- Industry leading market coverage
- Excellent Trading Features with SaxoTraderGo
- Advanced order type and account protection features
- Intuitive and easy to use mobile trading app
- Great education and research materials
- Competitive fee structure for active traders
Cons
- $10,000 minimum deposit for UAE users
- High time investment to set up
- Only for advanced traders
Key features
- 40.000 tradable symbols available (crypto derivatives, forex options and futures)
- Advanced account protection and order types
- Fast execution of trades
- $2.000 minimum deposit
- “Best in class” educational resources
- Great ease of use level combined with advanced features
5. Pepperstone – The Best Social Trading Broker In Iraq
Min Deposit: $200
Fees: 4.9
Assets available: 4.8
Total Fees:
Pepperstone is a trusted Forex and CFD broker well know for its support of multiple copy trading platforms, great variety of tradable assets and a enormous research and education section. The combined offering of cTrader, MetaTrader and various social trading features makes this broker s great fit for copy traders and algorithmic traders.
Pepperstone is available through 24/5 phone and online chat support plus offers an extensive FAQ web section, and e-mail.
Pros
- Great for algorithmic and copy traders
- Multiple platform add-ons
- Competitive fees and commissions
- Advanced social trading features
- Excellent education and research section
- Competitive fee structure for day traders
Cons
- Lack of video educational resources
- Advanced order types missing
- Customer support not in Arabic
Key features
- 600 + stocks as CFDs available
- Great variety of trading platforms (MetaTrader + cTrader)
- Multiple advance trading add-ons
- Social trading features
- Competitive pricing for active traders
How To Choose The Best International Trading Platforms For Iraq Residents
We choose the Best Trading Platform in Iraq by using data from 105 online brokers in 9 different categories. The categories we use are research & education, assets available, platforms, costs, withdrawal & deposit, copy trading, customer support, regulation, mobile apps, and Islamic account availability.
Research & Education
Brokers are more than a trading platform and should include research and educational material with an account. Make sure your broker delivers the information you need.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Educational Resources | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Webinars | Yes | No | Yes | Yes | Yes | Yes | Yes |
| Daily News Updates | Yes | No | Yes | Yes | Yes | No | Yes |
| Personal Training and Room Access | Yes | No | Yes | Yes | No | Yes | No |
| Market In-depth Analysis | Yes | No | Yes | Yes | Yes | No | Yes |
| Market Research | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Trading Signals | Yes | No | Yes | Yes | Yes | No | Yes |
Asset
Any broker you consider should have a range of tradable assets, like ETFs, stocks, futures, forex, mutual funds, bonds, commodities, indices, and cryptos.Any broker you consider should have a range of tradable assets, like ETFs, stocks, futures, forex, mutual funds, bonds, commodities, indices, and cryptos.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Shares | 0 | 0 | 1000 | 2800 | 0 | 30000 | 16500 |
| ETF and Funds | 0 | 0 | 0 | 0 | 0 | 5900 | 35000 |
| Crypto | 0 | 0 | 0 | 30 | 0 | 9 | 4 |
| Commodities | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Indices | 0 | 0 | 0 | 0 | 0 | 0 | 3052 |
| Options | 1 | 0 | 0 | 0 | 0 | 3000 | 50000 |
| Futures | 0 | 0 | 0 | 0 | 0 | 300 | 245 |
| Bonds | 2 | 0 | 0 | 0 | 0 | 4200 | 1000000 |
| Forex | 59 | 33 | 138 | 49 | 91 | 200 | 115 |
| CFD Stocks | 100 | 194 | 3600 | 2800 | 9500 | 19000 | 8000 |
| CFD Commodities | 15 | 3 | 33 | 54 | 22 | 50 | 2 |
| CFD Crypto | 14 | 19 | 207 | 32 | 8 | 0 | 0 |
Trading Platforms
Brokers have dedicated trading platforms, and also offer MT4 and MT5. You need to understand the platform before you start trading, and all the features it has.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Generic Platforms | Yes | No | Yes | No | Yes | No | No |
| Proprietary Platform | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Desktop version | Yes | Trader Workstation, Client Portal | Yes | Yes | Yes | No | Yes |
| Web version | Yes | Yes (Trader Workstation) | Yes | No | Yes | Yes | Yes |
| Mobile App | Yes | No | No | No | No | Yes | Yes |
| MetaTrader4 | Yes | No | No | No | No | No | No |
| MetaTrader5 | Yes | No | No | No | No | Yes | No |
| cTrader | Yes | No | No | No | No | Yes | No |
| Other Generic | Yes | No | Yes | No | No | No | No |
Fees
Trading fees add up, and some brokers offer 0% trading fees. When you choose a broker, look at the fees, and if you are a frequent trader, keep the fees low.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Deposit Fee | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Withdrawal Fee | 0 | 0 | 0 | $5 | 0 | 0 | 0 |
| Inactivity Fee | $50 quaterly after 3 months | Yes | No | $10 monthly after 1 year | $15 per month (after 12 months) | $100 – 6months | 0 |
| Overnight Fee | Yes | Yes | Yes | Yes | 2.5% | Yes | Yes on CFD’s |
| Cost Per Trade | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Per Month | 0 | €10 | 0 | 0 | 0 | 0 | 0 |
| Stock and ETFs | 0 | 0.48 pips | Varies | 0 | 0+spread | $1 | $0.005 per share |
| FOREX (EURUSD) | 0.9 pips | 4.7 pips | 2.4 pips | 1.1 pips | 0.8 pips | 1 | 0.2 pips + 0.08 to 0.20 bps times trade size comission |
| Crypto | 0.35% | 127.14 pips | 0 | 0 | 0 | 0 | 0.12% to 0.18% of trade value |
| CFD (gold) | 3.4 pips | 4.8 pips | 8.9 pips | 5 pips | 0.8 pips | 0.6 pip | 0.02% |
Deposit & Withdrawal
Deposits and withdrawals should be free, so look and make sure your broker has a fee structure that works for your deposit and withdrawal preference.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Minimum in UAE | $100 | $10 | $20 | $200 | $100 | $2000 | 0 ($2000 for margin account) |
| Bank Wire | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Cash | No | No | No | No | No | No | No |
| Credit/Debit Card | Yes | $50 | Yes | Yes | Yes | Yes | No |
| Check | No | No | No | No | No | No | Yes from a US bank account |
| Islamic Account Transfer | Yes | No | No | Yes | Yes | No | No |
| E-Paymenst | Yes | Yes | Yes | Yes | No | No | No |
| Paypal | No | Yes | Yes | Yes | No | No | No |
| Skrill | Yes | Yes | No | Yes | No | No | No |
| Neteller | Yes | Yes | No | Yes | No | No | No |
Social / Copy Trading
Social and copy trading gets you into the market fast. Social and copy trading are available with major brokers.
Customer Support
You need a broker with 24/7 customer support in a language you understand. Choose a broker that speaks your language, and has contact options that work for you.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Phone | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Live Chat | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| 24/7 support | Yes | Yes | Yes | Yes | No | Yes | No |
| Multilingual | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Personal Account manager | No | No | Yes | Yes | Yes | Yes | Yes |
Regulations
Only choose brokers regulated by the FCA, CySEC, and ASIC. Don’t bother with brokers that aren’t compliant with regulations in a top-tier market.
| Feature | AVAtrade | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|
| Regulators | ASIC, FSA, FSCA, CBI FFAJ, ADGM | FCA, NBRB, ASIC, CySEC | ASIC, CySEC, FCA, FSCS | IIROC, SFC, CySEC, FSA, NFA, FTC, MAS, CIMA, ASIC, FCA | ASIC, SFC, JFSA, MAS, Finma, FCA | NYSE, FINRA, SIPC |
Mobile Trading
Mobile trading keeps you in the markets from anywhere your mobile device works. Every broker offers different mobile trading features, so make sure you understand your broker’s mobile platform.
| Feature | AVAtrade | IQ Optio | Capital.com | eToro | Forex.com | Saxo Bank | Interactive Brokers |
|---|---|---|---|---|---|---|---|
| Android | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Apple | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Watchlist (mobile) | Yes | No | Yes | Yes | Yes | Yes | Yes |
| Economic Calendar (mobile) | No | Yes | Yes | No | Yes | Yes | Yes |
| Charting Tools (mobile) | Yes | Yes | Yes | No | Yes | Yes | Yes |
*Islamic Accounts: The Best Trading Platforms in Iraq have Sharia-compliant accounts that don’t charge interest.
Which is the best Mobile Trading App in Iraq?
Based on our research, AVAtrade, Interactive Brokers, Capital.com, and Saxo Bank have the best mobile trading apps in Iraq. The brokers offer apps for iOS and Android, and all the apps are free.
Consider these brokers for mobile trading in Iraq:
- AVAtrade
offers its own trading app, called AvaTradeGo, and also has mobile versions of MT4 and MT5 for its clients. AvaTradeGo resembles the desktop version, and if you use AVAtrade’s platform, the mobile app will be easy to use. - Interactive Brokers
has two trading apps, offering its IMPACT app for stocks and crypto, and its IBKR for other assets, like options and futures. IBKR has loads of customization options, but new traders struggle with it. If you need a serious mobile trading platform, IBKR is a good choice. - Capital.com
offers its own trading app in addition to the mobile version of MetaTrader 4 (MT4). Traders can choose whichever app they want, and Capital.com includes its Investmate education app for free. All the apps work with both iOS and Android. - Saxo Bank
offers its own mobile trading platform, SaxoTraderGO. The platform works with desktops and mobile devices, and the same markets are available on SaxoTraderGO mobile. Advanced market data is there for traders, as well as charts and limit orders. The mobile version of MT4 is also there for Saxo clients, but with less assets than SaxoTraderGO.
Online trading in Iraq
Online trading with a regulated broker gives you access to global markets, such as ETFs, stocks, CFDs, commodities, bonds, and mutual funds.
The Iraqi Securities Commission is the regulator for financial markets in Iraq, but the best brokers for traders in Iraq operate offshore.
Traders in Iraq can use offshore brokers for legal trading, and can send and receive money to offshore brokerage accounts. If you want to know if an offshore broker is registered in Iraq, you can check with the Iraqi Securities Commission.
How to Open a Brokerage Account in Iraq?
Opening a brokerage account in Iraq is simple if you have the correct things. You need a bank account, some form of legal ID, like a driver’s license or passport, and proof of where you live.
STEP ONE: Choose a broker you like, look for the broker’s minimum deposit, and open an account online. If you need an Islamic swap-free account, make sure you open the correct account type.
STEP TWO: Once your account is open, the broker will ask you for a KYC check, and you will need ID like a passport. After you pass the KYC check, fund your account with a money transfer.
Our top brokers are outside Iraq, so look at the funding methods. Depositing money with an offshore broker means a wire transfer, so make sure you understand the costs.
STEP THREE: Now your funded trading account is ready to go, and you have to choose a trading platform. Trading platforms like MT4 are free, but you will need to learn how to use it.
Every broker we recommend has a demo account for new traders, and educational resources. Use the demo account to practice trading, and don’t learn with real losses.
Points to consider before you get started
If you haven’t invested before, there are some important things to think of before trading online in Iraq.
Here are some things to consider before trading:
- Set Goals
Understand when you invest or trade, goals come first. Before putting any money in the market, consider where you want to be in a year. Your investment style will determine the broker chosen because short term and long term investments require different investment styles. A broker that sells stocks is better for long term investors, while a CFD broker is better for traders. - The Markets and Assets
Brokers offer a range of tradable assets, like stocks, bonds, mutual funds, and commodities. But, you must understand how you gain exposure to the asset. If you want to buy commodities over the long-term, a broker specializing in ETFs or futures is the way to go. If you are trading to make money daily or weekly, a CFD broker that offers all the macro assets like Forex, indices, commodities, and stocks would be the choice. - Timeframe
Saving money is always good, but depending on the kind of investing you do, fees might not be a big deal. If you put together your own ETF portfolio you plan to hold for decades, higher trading fees don’t matter. But, if you are a short term trader that enters and exits positions 10 times a day, the fees will add up. Think about your trading and investing ideas before you choose a broker, and save money.
Final Verdict
After reviewing 105 online brokers across 9 different categories, we see AVAtrade as the Best Trading Platform in Iraq. AVAtrade has great mobile and desktop trading platforms, full-time customer support, and a fair fee structure. You trade ETFs, stocks, mutual funds, commodities, options, futures, and more with AVAtrade.
FAQ
Is Online Trading Allowed in Iraq?
Online trading is legal in Iraq, and there are many online brokers, like the ones on our list, that accept clients from Iraq.
How do I Fund an Offshore Broker Account?
Check with the brokers you like about the funding methods they accept. Every broker accepts wire transfers, but there may be a cheaper option, like PayPal.
What is the Best Platform in Iraq?
Our research shows that AVAtrade is the best online broker for traders and investors in Iraq.
Are There Interest-Free Islamic Trading Accounts?
Sharia compliant accounts that don’t charge interest are available to investors in Iraq.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.