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Post by Ponee Mon Jul 20, 2020 9:49 pm



DELTA:   Forex Trading in Iraq (smile)
July 15, 2020 
Thanks to international Forex  Brokers steadily expanding into Iraq, it’s now possible for Iraqi citizens and travelers to get involved in the forex market. Though trading forex is still a relatively new concept in most parts of Iraq, it’s never been easier to learn more about trading online. 
Our guide will help you learn more about how you can begin trading forex in Iraq, how to open a brokerage account and will introduce you to a few beginner trading strategies. 

Get Started with Forex in Iraq

Getting started trading Forex begins with opening a brokerage account. Here are the basic steps you’ll go through when you open your account.

Step 1: Find a device connected to the internet. The 1st step to opening a Forex brokerage account is finding a stable connection to the internet. Though you can open an account on nearly any device, your internet connection must be consistent and private. Run a speed test on your device before proceeding.

Step 2: Choose a broker. Once you’ve got a stable connection to the internet, it’s time to choose a broker. Though there are both international and domestic brokers offering services to investors in Iraq, domestic brokers may not be registered and may offer dangerously high leverage and margin rates.
We recommend working with an international broker registered with a recognized foreign currency authority like the Cyprus Stock Market Commission or the Australian Securities and Investment Commission.

If you’re a follower of the Islamic faith, consider opening an account with a broker that offers “swap-free” accounts. These accounts don’t accumulate interest on overnight positions, which keeps you in accordance with Sharia laws regarding money lending.

Step 3: Open an account. After selecting a broker, use the broker’s processes to open an account. You’ll usually need to submit personal identification information before you can open your account.

Step 4: Download your trading software. Though your broker might offer its own proprietary platform, many brokerages require traders to download a 3rd-party software like Meta Trader 4 or 5. Check and see what your broker offers before you download any platform.

Step 5: Fund your account. When your account is fully-opened, link your bank account to transfer trading funds. Depending on your broker, you might also be able to fund your account with a debit card transfer or a transfer from an electronic wallet.

Step 6: Make your 1st trade. It may take a few days for your trading funds to appear in your account. Once they arrive, you can officially begin Forex trading.

Iraq Forex Trading Strategies

There are 2 major types of trading strategies that Forex traders use to determine which currencies to buy and sell: technical analysis and fundamental analysis. The ideal trading strategy for you will vary depending on the currencies you trade, whether you’d like to trade in the short-term or the long-term and your financial goals.

Zeeman:  if i read it correctly  with forex then iraq must be international and next is the new value. thanks for the info delta

Iobey777:  WOW!!!  That is HUUUUUGGGEEE news!!!
TSM:  It does sound GOOD.... but first show me where they can actually trade the Dinar on the forex..... or is this the same as the Nasdaq stuff they have been talking about or 2 - 3 years, and we still can't trade Iraqi stocks.

GodLover:  I would venture to guess that right now it's educating the Iraqi citizens how to trade on Forex, when a new international rate is exposed imo.

21TBird:  . Wow, the simple instructions to people in Iraq about trading on Forex. Its not that simple from my past experience. You really need to study how to trade it and there are people out there that have very expensive trading tools to help them see if the currency is really going up or actually selling off. Volume indicators. IMO
Dan:  According to my understanding, Frank said that the IQD can pay For and trade with every country in the world now. Only thing that is missing is that they have raised the value of their currency. Sounds like it's past tense on a global scale


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