Forex Iraq
We checked Forex Iraq against the AskCheck register. It has been reported (2024) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
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.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report Forex Iraq.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.