Reported as a scam / unregulated
Why Forex Iraq is on the register
Forex Iraq boasts that it is the only licensed broker in Iraq, operated by Myrtle Trade Brokerage Ltd., a company registered with Ministry of Commerce. However, Forex trading in Iraq is not yet fully regulated, and there are no specific regulations dedicated solely to forex trading. The government body overseeing financial activities is Iraqi Securities Commission (ISC). We conducted a search in the Brokerage Firms register of ISC but no corresponding records yielded. In essence, Forex Iraq is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds. Forex Iraq appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.