Category: Broker Categories

To come up with this list, we have tested forex brokers Russia.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Afterward, to get an accurate picture, we placed real trades in each popular market. 

Then, we reached out to customer support to see if the team was able to solve our problems. At last, we withdrew our funds thus checking the withdrawal process.

We handpicked the best forex brokers Russia based on our trading data and experience as a trader.

Can you Trade Forex in Russia?

Being the largest country in the world by its area, Russia spans from Eastern Europe to Northern Asia. It is one of the most populated countries, being in the ninth place in the world, and the first most populated country in Europe. The capital city of the country is Moscow.

The economy of the country is mixed. It has immense natural resources, the leading ones being oil and natural gas. The official currency of Russia is the Ruble.

Whether forex trading is available and legal in the country, the answer is positive. However, the market is regulated too strictly and due to the laws, there are only a few brokers that have gained local licenses.

The forex market is controlled by the Central Bank of Russia.

The official website of the Central Bank of Russia is www.cbr.ru

However, due to the present political situation, many brokers refuse to accept Russian traders. The sanctions imposed on the country have impacted Russia’s economy and caused the Ruble to plummet. Both local brokers and foreign brokers immediately suspended Ruble trading for an indefinite time.

At present brokers refuse to accept Russian traders, and many of them are notifying their clients about converting Ruble accounts to USD ones.

🏦Regulator	The Central Bank of Russia
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	No
📊 Maximum Leverage	1:30

Best Forex Brokers in Russia

Forex Trading is legal in Russia. However, the sector is regulated very tightly, with strict laws and regulations. There are only a few brokers with a local license mainly Banks based in Russia.

On the other hand, foreign brokers now mainly do not accept Russian traders. Especially due to the current sanctions, even those brokers that were available in the country formerly, have now limited their availability. So, before signing with a broker, conduct your own small research.

Due to the abovementioned, there are many offshore brokers available for Russian residents, therefore there are many scammers and scam companies targeting the traders. We recommend selecting brokers with a good reputation and additional licenses like FCA, ASIC, etc, and trying to open an account with its international entity.

Also, before signing with a broker, we advise you to check the broker’s offerings. One of the most essential aspects for Russian traders are payment methods. Always check whether the broker supports the payment methods available in the country. Customer support is another important moment to pay attention to, many of Brokers do not have Russian Speaking help or Customer Support.

To select the best forex brokers Russia, we have reviewed many regulated forex brokers. Based on our research, we have come up with a list of the best forex brokers for Russia traders, since these brokers may accept Russian traders even based elsewhere but in Russia:

• FxPro – Best Broker for Russian Overall
• Trading 212 – Best Online Forex Broker for Beginners in Russia
• XTB – Best MT4 Forex Broker in Russia
• FXTM – Best Forex Broker with Low Spreads Russia
• Alpari – Best High Leverage Forex Broker for Russian
• Dukascopy – Best ECN Broker in Russia

Best Broker for Russian Overall

We picked FxPro as the best online forex broker Russia overall.

FxPro was founded in 2006. This is a forex broker from the UK with licenses in the United Kingdom, Cyprus, South Africa, and the Bahamas. The broker offers contracts for differences (CFDs) across six categories: forex, shares, spot indices, futures, spot metals, and spot energies.

FxPro offers low and favorable spreads. Chiefly, spreads based on its MT4 accounts are on the lower side. In reality, the broker offers multiple accounts, such as FxPro MT4 Instant, FxPro MT4, FxPro MT5, cTrader, FxPro (EDGE), and MT4 fixed spread.

Deposits and withdrawals on FxPro are very easy and fast and include several options: credit and debit cards, bank transfers, etc. Online wallets like PayPal, Skrill, and Neteller are not available on the UK-registered entity.
Finally, the broker offers a great education, divided into sections for novice traders and professionals.

Best Online Forex Broker for Beginners in Russia

We picked Trading 212 as the best forex broker Russia for beginners.

Founded in 2004 Trading 212 is a global Forex and CFD broker. The broker is located in London with licenses by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). Trading 212 offers its clients the following markets to conduct their trades: indices, forex, commodities, stocks, and cryptocurrencies.

The broker has two account types: Invest and CFD. The broker does not offer MT4 and MT5 platforms. Instead, it offers its own proprietary platform which is easy to use and conduct favorable trades. The broker offers multiple payment methods, including bank wires, credit and debit cards, as well as e-wallets (Skrill, and PayPal).

The broker’s spreads are mostly on the lower side. However, spreads for the FTSE 100 and Gold are slightly higher than the industry average.

We have chosen Trading 212 as the best forex broker Russia for beginners as the section includes a lot of material suitable for novice traders. Beginner traders have access to text tutorials, educational articles, and a demo account. Also, clients have access to the in-depth video tutorial course, which has proved to be quite helpful.

Best MT4 Forex Broker in Russia

We picked XTB as the best MT4 forex broker Russia.

Founded in 2002, XTB is a global Forex and CFD broker. It has dual headquarters in London and Warsaw, with licenses in the UK, Cyprus, Poland, Spain, and Belize. XTB offers the following markets to its clients: forex, indices, stocks, commodities, ETFs, and cryptocurrencies.

This is a no-commission forex broker that offers low spreads on Forex pairs. However, spreads on commodities, stocks, indices, and cryptocurrencies are mostly in line with industry averages. XTB offers 2 account types: Standard, and PRO accounts.

With XTB brokers can make deposits through multiple options: debit/credit cards, bank transfers, and e-wallets such as Skrill, and PayPal.

We have picked XTB as the best MT4 forex broker Russia. The broker offers its own proprietary trading platform – xStation, also the popular MetaTrader 4 (MT4) platform. The platform includes all the necessary tools and features for favorable and successful trading.

Best Forex Broker with Low Spreads Russia

We picked FXTM as the best low spread forex broker Russia.

FXTM was founded in 2011 in Cyprus. The broker holds licenses in the United Kingdom, Cyprus, South Africa, and Mauritius. FXTM offers trading services with forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks.

Traders can choose from the two account types: Standard and ECN accounts. With the broker, there are multiple payment methods to choose from, such as international wire transfers, credit cards, several local bank transfers, and popular e-wallets like Skrill, Neteller, and Paypal.

The broker has its proprietary platform – FXTM Trader. Anyway, those who prefer the popular MT5 and MT4 platforms can still conduct their trades on those platforms.

We were not able to find a zero-spread forex broker Russia, due to the fact that there are not many trustworthy brokers in the country. Instead, we have picked FXTM as the best low-spread forex broker Russia as the broker’s spreads are mostly in line with the industry average.

Best High Leverage Forex Broker for Russians

We picked Alpari as the best high leverage forex broker Russia.

Alpari was founded in 1998. The broker is regulated by SVG FSC, FSC, but since it has been operating for many years in numerous countries, the broker is considered safe. Alpari offers trading with forex currency pairs, spot metals, CFDs along with Cryptocurrency trading.

Alpari clients have access to the popular MT4 and MT5 platforms. The broker offers several account types, as well as PAMM accounts. Alpari also offers great education both to beginner traders and professionals.

We have picked Alpari as the best High Leverage forex broker Russia. Alpari offers the highest leverage of 1:1000. However, minor currency pairs most often allow leverage of 1:400, commodities, on the other hand, are set to 1:100.

Best ECN Broker in Russia

We picked Dukascopy as the best ECN forex broker Russia.

Founded in 2004, Dukascopy is Switzerland-headquartered forex and contracts for differences (CFDs) broker. The broker is regulated in Switzerland, Japan, and Latvia. Dukascopy offers trading services in the following categories: forex, indices, commodities, cryptocurrencies, and stock CFDs.

Dukascopy offers two account types: Forex ECN Account and Forex MT4 Account. Besides, the broker also offers Swap-free Islamic accounts, Institutional accounts, Managed accounts, and PAMM accounts. The broker offers two main trading platforms: JForex which is its Proprietary Platform, and MetaTrader 4. Dukascopy is also a hedging and scalping forex broker, making it an excellent environment for running various trading strategies.

We have chosen Dukascopy as the best ECN forex broker Russia. Traders can open an ECN account with the broker and run EA and other trading strategies. Read more about ECN forex brokers here.

Russia top forex brokers list

We have tested many regulated and trustworthy forex brokers Russia. Based on our research, we have come up with a list of available forex brokers Russia.

Russia Forex Broker	About Our Test	Our Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
FxPro	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
Dukascopy	Deposit Amount: Over €4,000 Total Trade: 15 trades	Dukascopy Review
Alpari		Alpari website

FAQ and More on Forex Trading in Russia

Traders usually have many questions and concerns related to forex trading in Russia. In an attempt to be helpful we picked and answered some of the most essential questions related to forex brokers Russia.

How to Verify a Russia Regulated Broker?

Traders wonder how they can verify a forex broker Russia. To verify a Russian broker, traders are recommended to check the information on The Central Bank of Russia website. However, due to regulations, there are only several regulated brokers in the country.

If you want to check if a certain broker accepts Russian clients, you can easily do that on the broker’s website. Generally, almost all brokers mention on their websites the available and restricted regions.

Russia Forex Brokers with No Deposit Bonus

No deposit bonus is a marketing tactic used by the brokers to attract new traders. However, there are not many brokers with no deposit bonus. In Russia, especially, as the number of brokers is limited, they may be very few brokers with bonuses.

Moreover, traders should be very careful, as many brokers targeting Russians would use bonuses as a marketing tool. Thus, it is advisable to be alert and verify the broker’s reliability.

Based on our research, we have found only one available broker in Russia with bonuses – FXTM. The broker gives you an extra 30% on top of your deposit. However, conduct your own research before signing with the broker.

Russian Forex Broker for Day Trading

Day traders execute intraday strategies and profit from the asset’s price changes. Traders often wonder what is the best forex broker Russia for day trading.

Based on our tests we found XTB the most suitable day trading platform for Russians.

Best Islamic Forex Brokers

Islamic Accounts take into consideration the principles of the Islamic or Sharia laws. The Muslim population in Russia would look for Islamic accounts in Forex Broker offerings, thus we have searched for the best brokers with Islamic accounts in the country. Read our Best Islamic Forex Brokers article for more information.

• Dukascopy
• FxPro
• FXTM
• IC Markets

Best Forex Micro Account Brokers Russia

Micro Forex Account is designed to trade in Micro lots instead of Standard lots and is one of the most popular forex account structures.

Based on our research, we found the only micro account broker available for Russian clients to be FXTM, which is also a broker with a cent account.

Binary Options Brokers in Russia

Binary options are financial products that require speculation about whether the price of the underlying assets will go up or down. However, if the market moves against the trader’s bet, there is a high risk of losing the investment entirely.

Due to the majority of offshore brokers operating in Russia there might be many binary options offerings. Still, we do not recommend this instrument due to the high risks involved.

Tax in Russia for Forex Trading

Generally, forex trading in Russia is taxable. The income tax in the country is 15%. The annual income that does not reach 5 million Ruble, is taxed at a 13% rate. There are no capital gains taxes in the country. The latter is calculated the same way as income tax. 

Russian traders should remember that they are responsible for filing tax forms to the relevant institutions in their country. In case of delay or tax avoidance, they may face huge fines and penalties.

To come up with this list, we have tested forex brokers Iraq.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, to get an actual picture, we placed real trades in each popular market. 

Afterword, we contacted customer support to see if the team was able to solve our problems. Finally, we withdrew our funds thus checking the withdrawal process.

We handpicked the best forex brokers Iraq based on our trading data and experience as a trader.

Can you Trade Forex in Iraq?

Iraq is located in Western Asia. It neighbors Turkey, Iran, Kuwait, Saudi Arabia, Jordan, and Syria. The country’s dominant sector is oil. Before the US occupation, most of the country’s businesses were state-owned enterprises. Because of the invasions, the country’s economy has been heavily impacted. Moreover, there are about 2.4 displaced people.

Forex trading in Iraq is not regulated, yet it is legal. The country’s financial regulatory body is the Capital Market Authority. Its main aim is to monitor the financial sector. It also controls online trading, however, there are no special set regulations for forex in Iraq, however it remains under the question if local regulator truly provides necessary levels for safety.

The official website of the Capital Market Authority is www.isc.gov.iq.

🏦Regulator	Capital Market Authority
🛡️Is It safe to trade	No
🔒Negative Balance Protection	No
💰Compensation Scheme	No
📊 Maximum Leverage	1:10

Best Forex Brokers in Iraq

Forex Trading is legal in Iraq. However, the sector is not properly regulated. This means, that forex traders Iraq are at a disadvantage when it comes to trading. The market is full of unregulated brokers with doubtful offerings. Some offering leverages are as high as 1000:1 which can lead to losing all your money.

We recommend being very careful and choosing only tightly regulated trustworthy brokers. It is safer to choose international brokers that hold serrious licenses for other branches and accept Iraqi clients for its international entity, as money safety in forex trading goes first. However, there are very few international brokers that accept clients from Iraq.

Also, before signing with a broker, we advise you to check the broker’s offerings. One of the most essential aspects are payment methods. Always check whether the broker supports payment methods available in the country. Check also if the customer support team provides help in your preferred language.

To select the best forex brokers Iraq, we have reviewed many regulated international forex brokers. Based on our research, we have come up with a list of the best forex brokers Iraq:

• XTB – Best Online Broker Iraq Overall
• Trading 212 – Best Iraq Forex Broker for Beginners
• FXTM – Best MT5 Brokers in Iraq
• FxPro – Best Low Spread Forex Broker Iraq
• ICM Capital – Best High Leverage Forex Brokers Iraq

Best Online Broker Iraq Overall

We picked XTB as the best online forex broker Iraq overall.

Founded in 2002, XTB is a global Forex and CFD broker. The broker is located in London and Warsaw. It holds multiple licenses by regulators in the UK, Cyprus, Poland, Spain, and Belize. XTB offers the following markets to its clients: forex, indices, stocks, commodities, ETFs, and cryptocurrencies.

The broker offers 2 account types: the Standard, and PRO accounts. With XTB there are various options to fund the accounts, such as bank wires, credit and debit cards, and e-wallets such as Skrill and PayPal. As to its platforms, the broker offers a proprietary trading platform – xStation, also, the popular MetaTrader 4 (MT4).

The broker’s spreads are either lower than the industry benchmark or in line with the average offerings. At last, XTB offers decent education with a variety of educational materials: a demo account, webinars, Ebooks, video tutorials about the platform, detailed educational articles, and educational videos.

Best Iraq Forex Brokers for Beginners

We picked Trading 212 as the best forex broker Iraq for beginners.

Trading 212 was founded in 2004. The broker is located in London. This is a global Forex and CFD broker that is strictly regulated and holds licenses by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). The broker enables its clients to have access to the following markets: indices, forex, commodities, stocks, and cryptocurrencies.

With Trading 212 clients can fund their accounts through various options, including bank wires, credit and debit cards, as well as e-wallets (Skrill, and PayPal). The broker has its proprietary platform which is easy to use and is well-equipped with all the tools and features for favorable trading. It is not an MT5 and MT4 broker. Trading 212 offers two main account types: Invest and CFD.

Based on our trades, we found the broker’s spreads to be on the lower side. Only spreads for the FTSE 100 and Gold were slightly higher.

We have chosen Trading 212 as the best forex broker Iraq for beginners. The broker’s educational section is great. It is suitable for novice traders, offering text tutorials, educational articles, and a demo account. Also, clients have access to the in-depth video tutorial course.

Best MT5 Brokers in Iraq

We picked FXTM as the best MT5 forex broker Iraq.

ForexTime (FXTM) was founded in 2011. The broker is headquartered in Cyprus, holding licenses in multiple jurisdictions, including the United Kingdom, Cyprus, South Africa, and Mauritius. The broker offers trading services with forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks.

FXTM offers Standard and ECN accounts. The broker enables deposits and withdrawals via multiple options, such as international wire transfers, credit cards, several local bank transfers, and popular e-wallets like Skrill, Neteller, and Paypal.

We have picked FXTM as the best MT5 forex broker Iraq. The broker has its proprietary platform – FXTM Trader, however, it is also a great MT5 and MT4 broker, as both platforms are equipped with the necessary tools and features for successful trading.

Best Low Spread Forex Brokers Iraq

We picked FxPro as the best low spread forex broker Iraq.

Founded in 2006 FxPro is a forex broker located in the UK. It holds licenses in multiple jurisdictions: the United Kingdom, Cyprus, South Africa, and The Bahamas. The broker offers contracts for differences (CFDs). With FxPro, clients have access to six asset classes: forex, shares, spot indices, futures, spot metals, and spot energies.

FxPro offers trading on both its proprietary platform and the popular MT4 and MT5 platforms. The broker’s account types are based on its platforms: FxPro MT4 Instant, FxPro MT4, FxPro MT5, cTrader, FxPro (EDGE), and MT4 fixed spread.

We have picked FxPro as the best low spread forex broker Iraq. This STP forex broker has quite favorable spreads. Especially the spreads based on its MT4 accounts are on the lower side.

Best High Leverage Forex Brokers Iraq

We picked ICM Capital as the best high leverage forex broker Iraq.

ICM Capital was established in 2009. The broker is located in London, United Kingdom. ICM Capital is licensed in the United Kingdom, Cyprus, Malaysia, St Vincent, Grenadines, and Mauritius.

It is a global Forex and CFDs broker, offering tradable instruments in forex, indices, stocks, and commodities. ICM Capital offers 2 account types: ICM Direct Account and the ICM Zero Account.

ICM Capital offers a proprietary platform – ICM Direct, which uses ECN technology. The broker also offers the popular MetaTrader 4 (MT4) platform.

We have picked ICM Capital as the best high-leverage forex broker Iraq. The broker offers its clients various leverage levels, depending on the entity. For non-EU entities, ICM Capital offers high leverage up to 500:1 and 2000:1.

Iraq Top Forex Brokers List

We have tested many regulated and trustworthy forex brokers Iraq. Based on our research, we have come up with a list of available forex brokers Iraq.

Iraq Forex Broker	About Our Test	Our Review
AXI (AxiTrader)	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
ICM Capital	Deposit Amount: Over €5,000 Total Trade: 12 trades	ICM Capital Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review

FAQ and More on Iraq Forex Brokers

Traders usually have many questions and concerns related to forex trading in Iraq. To be helpful we picked and answered some of the most essential questions related to forex brokers Iraq.

How to Verify an Iraq Regulated Broker?

Traders wonder how they can verify a forex broker Iraq. Generally, it is quite an easy task. However, as forex trading in Iraq is not yet regulated, you cannot find the information on the regulator’s website. Anyway, as has already been mentioned, the financial sector in Iraq is regulated by the Capital Market Authority.

The only option remains to verify the broker immediately on the broker’s website. Commonly, almost all brokers mention on their websites the available and restricted regions.

Best Broker for Day Trading Iraq

Day traders are active traders executing intraday strategies and profiting from the particular asset’s price changes. Iraq traders often wonder what brokers are best for day trading.
Based on our research, we recommend XTB for day trading.

Best Iraq Brokers by Instrument

As Iraqi traders are interested in the brokers for their particular instruments, we have come up with the following ranking:

• Trading 212 – Best Cryptocurrency Broker
• FXTM – Best Online Stocks Broker
• XM – Best NASDAQ Broker
• Admiral Markets – Best Commodities Broker
• Axi Trader – Best CFD Broker

Iraq No Deposit Forex Brokers

There are only a few brokers that still offer a no deposit forex bonus. Based on our research, we were able to come up with only one trustworthy forex broker Iraq with a no deposit bonus. That broker is XM.

Best Binary Options Brokers List

Binary options are financial products that require traders to speculate if the price of the underlying assets will either go up or down. Binary options are tricky because if the market moves against the trader’s bet, the entire investment will be lost. Read more about Binary Options.

Generally, we do not recommend any binary options brokers since they are highly risky instruments banned by most world authorities.

Tax in Iraq for Forex Trading

There is no certain information on whether forex trading in Iraq is taxable or not. However, traders should be very careful and check the information with the local authorities and relevant institutions.

Here is general information on taxation in the country.
The general income tax in Iraq comprises 15%.
There are no separate capital gains taxes in the country. Gains and losses are generally treated as corporate income tax.

Traders should remember that they are responsible for filing tax forms to the relevant institutions. In case of delay or tax avoidance, they may later face fines and penalties.