Quick Verdict — Iraq Traders
Best Overall
FBS
Higher overall score & more features
Best Spreads
FP Markets
Lower trading costs for scalpers
Islamic Accounts
Both Available
Swap-free for Iraq Muslims
Best for Beginners
FBS
Better education & support
1:3000 vs 1:500
Max leverage
Iraq traders seeking a reliable forex broker face a choice between FBS and FP Markets, two well-known international brokers. FBS, with a score of 3.7/5, is popular for its low minimum deposit and user-friendly platform, making it accessible for emerging retail traders in Iraq who may be new to forex. FP Markets, scoring 4.7/5, is a more advanced broker offering tighter spreads, faster execution, and a wider range of trading instruments. For Iraq traders trading in IQD or using local payment methods like Bank Transfer, USDT, and ZainCash, both brokers provide suitable deposit options. However, FP Markets stands out with its superior trading conditions and regulatory oversight from ASIC and CySEC, while FBS offers a simpler entry point. This comparison will help Iraq traders decide which broker aligns with their trading style, budget, and local payment preferences.
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Overall Scores Comparison
FBS
CySEC · IFSC · FSCA
3.7
CompareBroker score
Winner
VS
FP Markets
1
2.9
CompareBroker score
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | FBS | FP Markets | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | FP Markets |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | FP Markets |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | FP Markets |
| Standard acc spread | from 1.0 pips | from 0.8 pips | FP Markets |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $5 | $100 | FP Markets |
When comparing trading costs for Iraq traders, FP Markets offers a clear advantage with spreads starting from 0.0 pips on its Raw account, compared to FBS's spreads from 0.6 pips on the Zero account. For a typical Iraq trader executing 10 standard lots per month on EUR/USD, the difference can save over $1,000 annually with FP Markets. FBS does offer commission-free accounts, but the wider spreads increase costs for active traders. Both brokers have no hidden fees for deposits via Bank Transfer or USDT, making them cost-effective for Iraq-based traders who prioritize low transaction costs.
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Account Types Comparison
| Account Type | FBS | FP Markets |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✗ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $5 | $100 |
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Leverage Comparison - Iraq Traders
| Entity / Asset | FBS | FP Markets |
|---|
| Iraq (offshore) | Up to 1:3000 | Up to 1:500 |
| Forex major pairs | 1:3000 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Iraq Traders
Traders in Iraq typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | FBS | FP Markets | Winner |
|---|
| Forex pairs | 90+ | 65+ | FBS |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | FBS |
| Crypto CFDs | 30+ | 20+ | FBS |
| Stocks / Share CFDs | ✗ | 1,700+ | FP Markets |
| ETFs | ✗ | ✓ | Tie |