The Invezz team of expert traders, data analysts, and financial writers frequently test the best trading platforms. Amongst a range of features, we ranked the top brokers in Iraq according to their affordability, security, and available international markets.
In this article, we answer the question: what are the best online brokers in Iraq for Iraqi users?
What is the best stock trading app in Iraq?
Our rankings reveal that the best online broker in Iraq is Skilling.
Having assessed 100+ brokers, this list represents the three services that top our rankings as the overall best online trading platforms in Iraq.
1- Skilling https://skilling.com/row/es/trade-over-750-stocks/
3-ActiveTrade https://secure.activtrades.com/personalarea/oa/?lang=es&cxd=35170_368004_f8e1ac140f5b464686bbd3faa6d12f8a&affId=35170
More about stock trading platforms in Iraq
What products can I trade with a Iraqi stock broker?
You can trade stocks from Iraq, or invest in leading companies from around the world. Here’s a breakdown of what (and how) you can trade with the best online brokers Iraq.
Stocks
- Iraqi stocks. One option is to simply buy and sell stocks that are listed in Iraq. This is normally the most straightforward option for Iraqi residents, as you can buy shares in any company that’s listed on a Iraqi stock exchange.
- US stocks. Some of the best known companies in the world are listed in the United States. The best online broker in Iraq will also let you invest in stocks that are listed on the NYSE or the NASDAQ exchange in the US, but it depends on the legal restrictions in Iraq.
- International stocks. You may also be able to buy shares in companies that are based in the rest of the world. The best international brokers in Iraq offer global stocks, but it may be a limited selection. If you want to buy equities from outside Iraq or the US, be sure to check those stocks are available through your online broker before you sign up.
ETFs
ETFs (exchange traded funds) are investment funds that pool money together from lots of different investors and use it to track a particular index, like the S&P 500. Even if you can’t invest in every stock from every country, you can usually find an alternative in an ETF that tracks the performance of Iraq’s top stock exchanges and indexes.
Mutual funds
Mutual funds are professionally managed investments. You buy shares in the fund through an investment platform and the manager decides what to invest it in.
Mutual funds and ETFs are similar, but the former are managed by a professional who tries to beat the market, while the latter buy and sell stocks automatically based on a set of fixed criteria. The best stock broker in Iraq allows you to invest in stocks from Iraq, as well as ETFs and mutual funds.
Futures and options
Futures and options contracts involve making an agreement to purchase a stock in the future at an agreed price. They’re favoured by stock traders and can be used as a way of speculating on how you think a company’s price might change in the future.
How much does it cost to use the best online brokers in Iraq?
It is normally free to sign up to a stock trading platform in Iraq. The main cost comes in the form of trading fees, which depend on the platform and on what you want to trade. Some of the best stock trading apps in Iraq offer completely free trading, while others charge a flat fee or commission per trade.
Are stock brokers in Iraq regulated?
Yes, online brokers have to be regulated in order to offer share dealing services. Ideally, you want to find a broker that offers top-tier regulatory protection either through your local regulator, or through an internationally recognised institution.
The best brokers in Iraq are regulated internationally through institutions such as CySEC (Cyprus Securities and Exchange Commission).
How to buy stocks in Iraq
Every stock trading app in Iraq is designed to help you invest with the minimum of fuss.
Follow this six step guide to learn how to buy shares online in Iraq for the first time.
1. Find a Iraqi trading app
Compare the best online stock brokers in Iraq and choose your favourite from the list at the top of this page.
2. Create an account
Once you’ve chosen the best broker Iraq, set up an account by supplying your email address and password. Fill in personal details like your name and address.
3. Verify the broker account
Before you use an online trading platform in Iraq you need to verify your identity. Upload a copy of your driving licence or passport to do this. The verification process can take up to 24 hours, but is often much quicker than that.
4. Deposit money into your trading account
You can make your initial deposit via a card payment, bank transfer, or an alternative payment method. Many of the best online brokers in Iraq accept PayPal and similar e-wallets, but you should check this ahead of time.
5. Search for a stock and place your trade
Find the stocks you want to trade using their ticker symbol. Enter the details of your trade, and hit ‘buy’ to execute it.
6. Monitor your investment
Check up on your investment regularly. Use the latest news and stock market research to help you decide when to sell your shares, and lock in a profit or loss.
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