Basic Information
Registered Region 
Iraq
IraqOperating Period
2-5 years
Company Name
Myrtle Financial Consultation Co., Ltd
Customer Service Email Address
info@forexiraq.net
Contact Number
+96407701989494
Company Website
Global Broker Regulation Inquiry App
WikiFX
No Regulation
Score
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9
/10
Myrtle
Iraq
|
2-5 years
|
Suspicious Regulatory License
|
Suspicious Scope of Business
|
High potential risk
https://www.forexiraq.net/
Website
Rating Index
Influence
Influence
D
Influence index NO.1
Iraq 2.50Surpassed 14.10% brokers
Biz Area
Search Statistics
Advertising
Social Media Index
Contact
+964 0770-198-9494
info@forexiraq.net
https://www.forexiraq.net/
Office #16, 2nd Floor, AB White Building, Gulan St., Erbil 44001, Iraq
LicensesNo valid regulatory information, please be aware of the risk!
Warning: Low score, please stay away!
- It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!
2
Account
Biz Area
Website
Company Summary
Wiki Q&A
Comment
Account
- Environment--
- Currency--
- Maximum Leverage1:200
- SupportedEA
- Minimum Deposit$100
- Minimum Spread--
- Depositing Method--
- Withdrawal Method--
- Minimum Position--
- Commission--
- Products--
Updated：
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- 37.156.104.63Server LocationICP registration--Most visited countries/areas--Domain Effective Date--Website--Company--
Company Summary
| Forex Iraq Review Summary | |
| Founded | 2022 |
| Registered Country/Region | Iraq |
| Regulation | Not regulated |
| Market Instruments | 60+ currency pairs, commodities, indices, stocks |
| Demo Account | ✅ |
| Leverage | Up to 1:100 |
| Spread | From 1.5 pips (Standard Account Type A) |
| Trading Platform | MetaTrader 5 (Desktop & Mobile) |
| Min Deposit | $50 |
| Customer Support | Address: Office #16, 2nd Floor, AB White Building, Gulan St., Erbil 44001, Iraq |
| E-mail: info@forexiraq.net | |
| Phone: +964-0770-198-9494, +964-0750-198-9494 | |
Forex Iraq Information
Forex Iraq is an unregulated broker founded in 2022 and registered in Iraq. It offers a variety of trading instruments including forex, indices, commodities, and stocks via MetaTrader 5. It supports Islamic and demo accounts, however it is unregulated.
Pros and Cons
| Pros | Cons |
| Offers demo and Islamic accounts | Not regulated |
| Supports MetaTrader 5 on all devices | No clear info on deposit/withdrawal fees |
| Multiple funding options (crypto, e-wallets) | No MT4 or alternative platforms |
Is Forex Iraq Legit?
Forex Iraq is not regulated as a forex or CFD broker in its registered country, Iraq. Furthermore, it does not hold licenses from any internationally recognized regulatory bodies such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), or CySEC in Cyprus.
According to the WHOIS database, the domain forexiraq.net was registered on January 20, 2022, and is set to expire on January 20, 2026. The domain was last updated on January 28, 2025, and is currently protected against unauthorized modifications
What Can I Trade on Forex Iraq?
Forex Iraq offers 60+ currency pairs along with various commodities, indices, and stocks for trading.
| Tradable Instruments | Supported |
| Forex (60+ pairs) | ✅ |
| Commodities | ✅ |
| Crypto | ❌ |
| CFD | ✅ |
| Indices | ✅ |
| Stock | ✅ |
| ETF | ❌ |
Account Types
The broker offers a total of four live account types: Daily Trading A, Daily Trading B, Standard Account Type A, and Standard Account Type B. In addition to live accounts, the broker also provides a demo account for practice and Islamic (swap-free) accounts upon request.
| Account Type | Min Deposit | Spreads | Leverage | Commission | Platform | Best For |
| Daily Trading A | $100 | 0.0 - 0.5 pip | 1:50 | $10 | MetaTrader 5 | Pro/active traders |
| Daily Trading B | $100 | 0.5 - 1.5 pip | 1:50 | $0 | MetaTrader 5 | Day traders avoiding fees |
| Standard Account Type A | $50 | 1.5 - 2.5 pip | 1:100 | $0 | MetaTrader 5 | Beginners, casual traders |
| Standard Account Type B | $50 | 0.5 - 1.0 pip | 1:100 | $15 | MetaTrader 5 | Swing traders, mid-volume |
Leverage
The broker offers maximum leverage of up to 1:100, depending on the account type. Leverage allows traders to control larger positions with a smaller amount of capital, which can significantly amplify both profits and losses.
Forex Iraq Fees
Forex Iraqs trading fees are generally competitive compared to industry standards. The broker offers tight spreads on certain accounts—as low as 0.0 pip on Daily Trading A, though it charges a $10 commission. Other accounts offer wider spreads but are commission-free or have different fees, like Standard Account B which has 0.5–1.0 pip spreads with a $15 commission. Islamic (swap-free) accounts are available upon request.
| Account Type | Spreads | Commission |
| Daily Trading A | 0.0 – 0.5 pip | $10/lot |
| Daily Trading B | 0.5 – 1.5 pip | $0 |
| Standard Account A | 1.5 – 2.5 pip | $0 |
| Standard Account B | 0.5 – 1.0 pip | $15/lot |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader 5 Desktop | ✔ | Windows, macOS | Advanced traders needing full desktop tools |
| MetaTrader 5 Mobile | ✔ | Android, iOS | Traders on-the-go who value flexibility |
| MetaTrader 4 | ❌ | - | - |
| cTrader | ❌ | - | - |
Deposit and Withdrawal
Forex Iraq does not clearly state if they charge deposit or withdrawal fees; traders are advised to confirm with customer service. The minimum deposit is $50, depending on the account type.
| Payment Method | Min. Deposit/Withdrawal | Fees | Processing Time |
| AsiaHawala | $50 | Not mentioned | Not mentioned |
| ZainCash | $50 | Not mentioned | Not mentioned |
| PayPal | $50 | Not mentioned | Not mentioned |
| WebMoney | $50 | Not mentioned | Not mentioned |
| FastPay | $50 | Not mentioned | Not mentioned |
| Cryptocurrency | $50 | Not mentioned | Not mentioned |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
Wiki Q&A
Yousef47 
1-2 years
What are the cons of trading with Forex Iraq?
The main con for me is the lack of regulation. Additionally, there’s no support for MT4 or MT5, which are platforms I’m familiar with. Another downside is the limited information about fees, especially related to deposits and withdrawals, which makes it hard to assess the overall cost of trading.
Broker Issues
Regulation
06-28
United States
Serious74
1-2 years
What is the spread at Forex Iraq?
The spread at Forex Iraq varies depending on the account type. For instance, Daily Trading A offers spreads as tight as 0.0 pips, but it comes with a $10 commission. The Standard Account A has spreads from 1.5 to 2.5 pips. I’d personally choose the account with tighter spreads, depending on my trading strategy.
Broker Issues
Fees and Spreads
06-17
United States
aariapoor
1-2 years
How long does it take for Forex Iraq withdrawals to process?
Forex Iraq typically processes withdrawals within 1-5 business days. I think this is a reasonable timeframe, but I’d be cautious about any potential delays depending on the method used. It’s always good to verify with customer service for more clarity on withdrawal processing times.
Broker Issues
Withdrawal
Deposit
05-25
United States
Allan777
1-2 years
What account types does Forex Iraq offer?
Forex Iraq offers four account types: Daily Trading A, Daily Trading B, Standard Account A, and Standard Account B. I personally find the Standard Account A with a minimum deposit of $50 to be suitable for beginner traders, while the Daily Trading A is better for more active traders due to its low spread.
Broker Issues
Platform
Account
Leverage
Instruments
04-27
United States
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