Forex and CFD Brokers Iraq
Iraq does not have a financial conduct authority with the exact name “Financial Conduct Authority.” However, Iraq does have regulatory bodies and institutions that oversee various aspects of the financial sector in the country.The Central Bank of Iraq (CBI) is the main regulatory authority responsible for overseeing the banking sector in Iraq. It formulates monetary policy, regulates and supervises banks, issues and manages the national currency (Iraqi dinar), and maintains financial stability in the country.
CFD stands for Contract for Difference. It is a popular derivative product that allows traders to speculate on the price movements of various financial instruments without owning the underlying asset. CFDs provide an opportunity to profit from both rising and falling markets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.