Best CFD brokers in Iraq in 2024

Written by
Krisztián G.
Fact checked by
Tamás D.
Updated
22h ago
Dive into our toplist of regulated and trusted brokers that we tested with real money. Every broker is available in Iraq.

Find below the strengths of the best CFD brokers available in Iraq, updated for 2024:

  1. Admirals (Admiral Markets) is the best CFD broker in Iraq in 2024. - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  2. FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  3. MultiBank - Quick and easy account opening. Free and varied deposit and withdrawal options. Fast and helpful customer service.
  4. XM - Low stock CFD and withdrawal fees. Easy and fast account opening. Great educational tools.
  5. TMGM - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  6. AvaTrade - Easy and fast account opening. Free deposit and withdrawal options. Great research tools.
  7. Global Prime - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  8. FXCM - Fast and straightforward account opening. Good technical research tools. High-quality educational content.
  9. FXTM - Low fees. Digital and fast account opening. Good customer service.
  10. Royal - Low non-trading fees. Many deposit options. Great research tools.
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Key features of the best CFD brokers

While many online CFD brokers and trading platforms offer an excellent service, the ones in our toplist go the extra mile.

Broker
Minimum deposit
Time to open account
Admirals (Admiral Markets)
$100
1 day
FXTRADING.com
$200
1 day
MultiBank
$50
1 day
XM
$5
1 day
TMGM
$100
1 day
AvaTrade
$100
1 day
Global Prime
$0
1 day
FXCM
$50
1-3 days
FXTM
$10
1 day
Royal
$50
1 day
Best CFD brokers key data compiled for March 2024

Popularity of the best CFD brokers in Iraq

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

Trading fees at the best CFD brokers

How much you have to pay for a trade in spreads, commissions and other trading costs is a key broker selection criteria. Check the spreads in the table below. In case of stock CFD, we calculate the fees for a $2,000 trade held for 1 week.

Broker
S&P 500 CFD spread
Apple CFD fee
Admirals (Admiral Markets)
0.4
$3.7
FXTRADING.com
0.3
-
MultiBank
0.9
$7.9
XM
0.5
$6.3
TMGM
2.3
-
AvaTrade
0.5
$6.6
Global Prime
0.4
-
FXCM
0.4
$6.5
FXTM
1.0
-
Royal
1.7
$4.7
Fees at the top CFD brokers

If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.

Non-trading fees at the top CFD brokers

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Broker
Withdrawal fee
Inactivity fee
Admirals (Admiral Markets)
$0
FXTRADING.com
$0
MultiBank
$0
XM
$0
TMGM
$0
AvaTrade
$0
Global Prime
$0
FXCM
$0
FXTM
$3
Royal
$0
Non-trading fees at the top CFD brokers in March 2024

Can I trust these CFD brokers in Iraq?

Yes, BrokerChooser exclusively recommends legit brokers, overseen by at least one globally acknowledged regulator. We track more than 20,000 brokers and trading platforms that we don't recommend. To be sure that a broker is reputable and reliable, use our Scam Broker Shield tool.

Key criteria determining a broker's trustworthiness are: regulation, availability of investor protection, as well as a long and spotless track record. Explore the interactive table below, encompassing this array of vital data.

Broker
Top-tier regulators
Trusted broker
Admirals (Admiral Markets)
FCA in the UK and ASIC in Australia
FXTRADING.com
ASIC in Australia
MultiBank
ASIC in Australia and BaFin in Germany
XM
ASIC in Australia
TMGM
ASIC in Australia
AvaTrade
CBI in Ireland and ASIC in Australia
Global Prime
ASIC in Australia
FXCM
FCA in the UK and ASIC in Australia
FXTM
FCA in the UK
Royal
ASIC in Australia
Trust metrics for the best CFD brokers in Iraq in 2024
We label a broker as trusted if it has reliable regulation.

Product selection at the top CFD brokers

Check out what types of CFDs you can trade at the best CFD brokers and CFD trading platforms.

Broker
Stock index CFD
Stock CFD
Admirals (Admiral Markets)
FXTRADING.com
MultiBank
XM
TMGM
AvaTrade
Global Prime
FXCM
FXTM
Royal

What is CFD trading?

CFDs, short for contracts for difference, are derivative products used to speculate on the price movements of a wide range of financial instruments. A CFD is a contract between two parties under which the seller pays the buyer the difference between the current value of an asset and its value at the time the contract is due.

When trading CFDs, you speculate on whether the price of movement of a financial instrument (i.e. stock, bond, commodity, etc.) will go up or down, without owning the underlying asset . Instead of buying a Vodafone stock, at a CFD broker you will speculate on the direction you think the Vodafone stock will go. If your guess is right, you will make profit on your CFD trade.

There are, however, two [free financial zones in the UAE, which have their own regulatory regimes, albeit they still impose stringent rules to protect clients. These are the Abu Dhabi Global Market (ADGM) and, the better known Dubai International Financial Center (DIFC).

CFDs are leveraged products, meaning that you trade with your own money as well as funds you borrow from your broker. This makes CFD trading extremely risky and not suitable for beginners. A very high percentage of retail traders lose money when trading CFDs.

CFD trading is illegal in the U.S.. However, if you open an account at a European broker, you will be able to trade CFDs on U.S. assets.

And now, let's see the top international online brokers for 2024 for residents in Iraq in detail one by one, starting with the winner, Admirals (Admiral Markets).

Recommended for forex traders who are familiar with the MetaTrader trading platforms

Visit broker
80% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit $100
Deposit methods Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal methods Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Mobile app score 4.3 stars
Read review For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024.

Recommended for forex traders who prefer the MetaTrader platform

Visit broker
74-89% of retail CFD accounts lose money

FXTRADING.com snapshot
Minimum deposit $200
Deposit methods Bank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, Poli
Withdrawal methods Bank transfer, PayPal, Neteller, UnionPay, Poli
Mobile app score 3.3 stars
Read review For a detailed analysis of FXTRADING.com services, check out our review for 2024.

Recommended for forex and CFD traders familiar with the MetaTrader trading platform

Visit broker
74-89% of retail CFD accounts lose money

MultiBank snapshot
Minimum deposit $50
Deposit methods Bank transfer, Credit/debit cards, Neteller, Skrill, Sepa, Praxis, Bitcoin, tether, myFatoorah, pagsmile,Paytrust, PlusWallets, Thai QR payment, PaymentAsia, GlobePay, korapay, Boletol, Pay Retailers, pix, SPE, dragonpay, GCash
Withdrawal methods Bank transfer, Credit/debit cards, Neteller, Skrill, Sepa, Praxis, Bitcoin, tether, myFatoorah, pagsmile,Paytrust, PlusWallets, Thai QR payment, PaymentAsia, GlobePay, korapay, Boletol, Pay Retailers, pix, SPE, dragonpay, GCash
Mobile app score 3.8 stars
Read review For a detailed analysis of MultiBank services, check out our review for 2024.
XM Logo

XM

Recommended for forex and CFD traders who prefer MetaTrader platforms and seek great account opening

Visit broker
75.33% of retail CFD accounts lose money

XM snapshot
Minimum deposit $5
Deposit methods Bank transfer, Credit/debit cards, Skrill, Neteller for withdrawal, Sticpay for Deposit (under FSC)
Withdrawal methods Bank transfer, Credit/debit cards, Skrill, Neteller for withdrawal, Sticpay for Deposit (under FSC)
Mobile app score 3.3 stars
Read review For a detailed analysis of XM services, check out our review for 2024.

Recommended for forex traders who prefer the MetaTrader platform

Visit broker
80.26% of retail CFD accounts lose money

TMGM snapshot
Minimum deposit $100
Deposit methods Bank transfer, Credit/debit cards, Paytrust, Neteller, Sticpay, Skrill, Fasapay, UnionPay, RMB Instantm Broker to Broker
Withdrawal methods Bank transfer, Credit/debit cards, Paytrust, Neteller, Sticpay, Skrill, Fasapay, UnionPay, RMB Instantm Broker to Broker
Mobile app score 3.3 stars
Read review For a detailed analysis of TMGM services, check out our review for 2024.

Recommended for forex and CFD traders looking for an option to use MetaTrader platforms

Visit broker
71% of retail CFD accounts lose money

AvaTrade snapshot
Minimum deposit $100
Deposit methods Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, Klarna, Webmoney, POLi, Boleto, Perfect Money
Withdrawal methods Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, Klarna, Webmoney, POLi, Boleto, Perfect Money
Mobile app score 4.4 stars
Read review For a detailed analysis of AvaTrade services, check out our review for 2024.

Recommended for forex and CFD traders who are familiar with the MetaTrader trading platforms

Visit broker
74-89% of retail CFD accounts lose money

Global Prime snapshot
Minimum deposit $0
Deposit methods Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, GATE8, DragonPay, VNPay, PromptPay, Bpay, POLi, AstroPay, Interac, PayID, Perfect Money, XPay, Rapyd, BinancePay, Jeton, Mifinity, FasaPay, Pagsmile
Withdrawal methods Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, GATE8, DragonPay, VNPay, PromptPay, Bpay, POLi, AstroPay, Interac, PayID, Perfect Money, XPay, Rapyd, BinancePay, Jeton, Mifinity, FasaPay, Pagsmile
Mobile app score 3.3 stars
Read review For a detailed analysis of Global Prime services, check out our review for 2024.

Recommended for forex traders looking for easy account opening, funding and withdrawal

Visit broker
70% of retail CFD accounts lose money

FXCM snapshot
Minimum deposit $50
Deposit methods Bank transfer, Credit/debit cards, Neteller, Skrill, Unionpay
Withdrawal methods Bank transfer, Credit/debit cards, Neteller, Skrill, Unionpay
Mobile app score 4.5 stars
Read review For a detailed analysis of FXCM services, check out our review for 2024.

Recommended for forex traders familiar with the MetaTrader platform

Visit broker
75% of retail CFD accounts lose money

FXTM snapshot
Minimum deposit $10
Deposit methods Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal
Withdrawal methods Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal
Mobile app score 3.3 stars
Read review For a detailed analysis of FXTM services, check out our review for 2024.

Recommended for traders looking for low forex fees and preferring the MetaTrader platform

Visit broker
73% of retail CFD accounts lose money

Royal snapshot
Minimum deposit $50
Deposit methods Bank transfer, Credit/debit cards, Neteller, Skrill, fasapay, NganLuong.vn, PM, UnionPay, Asia Banks, Pay Retailers, Interac, Whish Money
Withdrawal methods Bank transfer, Credit/debit cards, Neteller, Skrill, fasapay, NganLuong.vn, PM, UnionPay, Asia Banks, Pay Retailers, Interac, Whish Money
Mobile app score 3.3 stars
Read review For a detailed analysis of Royal services, check out our review for 2024.

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How did BrokerChooser select the best CFD brokers?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • Specifically compared CFD fees,
  • Looked at the range of CFDs available,
  • Opened an account and tested the platform (charting, features, usability) with real money.

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FAQ

How risky is CFD trading?

While CFDs have many benefits, including access to a wide range of markets with little capital needed upfront, the ability to bet on falling as well as rising markets, making them very popular with online traders, However, they come with high risk of losing your money.

The biggest risk comes from the use of leverage. Leverage means that you borrow money from your broker, which will enable you to spend more money on opening a position than you otherwise would be able to. It’s also called trading on margin, where margin is the percentage of the total value of the trading position you are required to put down.

At 100:1 leverage, you only need to deposit just 1% of the position’s value. So with $10 you can control a position of $1,000 in value. But if you get your bet wrong, you lose many times the amount you deposited. Leverage amplifies you gains as well as your losses.

There are several other risks involved, such as the risk from inexperience, whereby beginners are bound to make expensive mistakes. There is the risk of choosing an unreliable provider and losing your money that way if it goes bust. Markets are risky by definition due to volatility and a lot of unexpected events that affect them.

To limit these risks you should only trade CFDs if you fully understand them, including risk management tools, such as stop-loss and take profit orders. A lot of brokers offer a good selection of educational materials. Also, you should practice trading on a demo account with virtual funds first, to avoid risking your capital. Only trade live, when you are fully confident.

To better understand CFDs and the risk involved, read this article on CFD trading tips compiled by our team of experts.

Can CFD trading be profitable?

Yes, CFD trading can be profitable and investors may make handsome profits when trading these products. Nevertheless, CFDs are very risky instruments, especially because they are leveraged products. Leverage refers to the loan extended by the broker, which allows you to invest a much larger amount of money. Over three quarters of retail trading accounts lose money when trading CFDs. CFDs are by no means a guarantee for getting rich overnight.

What's the difference between CFDs and shares?

The main difference is ownership. You can get exposure to stock markets by trading share CFDs, whithout owning the underlying share that you are betting on. To trade shares outright, you need to buy them via a broker and you own them. The advantage if share CFDs is that you can speculate on a high number of shares without a big capital outlay. The benefit of owning stocks is that they are ideal for long-term investment.

The other difference is leverage. When you trade CFDs, your broker gives you leverage, a loan, meaning that you are able to control a large position with a small initial deposit. With share trading, you buy a share from your own captital and selling it means that you transfer the ownership rights to a buyer. Typically, share are for investing on a longer time horizon, while CFD trades are typically closed out within the day. Both have their advantages and drawbacks, depending on your circumstances and financial goals.

Are CFDs good for beginners?

CFDs are high risk instruments and are not recommended for beginners. CFDs are very risky because they are leveraged products. Leverage in this case means that you trade with your own money and the funds your broker lends you. While you can open much larger positions this way, you can magnify your profits and your losses. CFDs are widely used by experienced traders with a deep understanding of financial markets and investment strategies. If you are an absolute beginner, it makes sense to open a demo account and do a lot of research. Data shows that over three quarters of retail trading accounts lose money when trading CFDs.

Want to understand CFD trading in more detail?

Check out these articles written by our broker and trading experts:

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Engage with our growing community of traders and investors like you to find your answers.
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Author of this article

Krisztián Gátonyi

Method-Man | Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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