MetaTrader 5
MetaTrader 5 is Myrtle's only platform, published as a Windows terminal, Android and iOS apps and a browser based web terminal, running on the MyrtleTradeBrokerage-Server.
Runs on
- Windows
- Mac
- Linux
- Web
- Android
- iOS
- API
Download
Details
Is MYRTLE a scam?
Wikilix independent safety report
0%Scam risk
High risk (unverified)Confidence: MEDIUM
2.5/5Safety rating 2.5 out of 5
Myrtle (myrtle.ltd), formerly Forex Iraq, is not a confirmed scam, and we found no evidence of fraud against it. But it is not the licensed broker it says it is: nothing supports its claim to be 'the…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation7/10 · HighIdentity & transparency4/10 · ModerateWithdrawals & conduct3/10 · LowReputation5/10 · ModerateWebsite claims9/10 · CriticalOperational history4/10 · Moderate
Editorial review
Broker Summary
What Wikilix has recorded about MYRTLE: its history, the licences it holds, its trading conditions and its fees.
Myrtle Broker Overview
Myrtle is a retail forex and CFD broker based in Erbil, Iraq, operated by Myrtle Company for Trade Brokerage Ltd. The business previously traded as Forex Iraq, and every page of its website is still titled Myrtle (formerly Forex Iraq). It offers a single live account on MetaTrader 5, with a minimum deposit of 100 USD, leverage of up to 1:200 and no commission on the published tier. The site presents Myrtle as a broker for clients in Iraq and the Kurdistan Region, and its payment list is built around Iraqi payment services.
Myrtle Regulation and License
Myrtle publishes one authorisation, and it is a company registration rather than a financial licence. Its site states that the company is registered under number 30984 with the Ministry of Commerce of the Republic of Iraq, General Directorate of Companies Registration, on 19 January 2022, and that the trade name is reserved to Myrtle Company for Trade Brokerage Ltd. No financial regulator is named anywhere on the site, no licence number is quoted and no entry on a regulator register is linked.
The home page claims considerably more than that. Its headline reads that Myrtle is the only licensed brokerage authorized in Iraq and Kurdistan, which is a licensing claim the site supports with no licence. The footer separately describes the operator as a financial consulting company, a description that does not match the leveraged CFD business the rest of the site markets. The four ISO certificates linked in the footer are management system and technical standards, not financial authorisations. WIKILIX has not confirmed a financial licence for Myrtle, and this profile makes no assessment of any licence claim.
Is Myrtle Regulated?
No financial regulation has been confirmed for Myrtle. What the broker documents is corporate registration in Iraq, which shows that the company legally exists but says nothing about permission to hold client money for leveraged trading, and carries none of the capital, segregation or dispute resolution requirements a financial licence brings. On the evidence the broker itself publishes, the licensing headline on its home page should be read as an unsupported claim.
Myrtle Company for Trade Brokerage Ltd.
Myrtle Company for Trade Brokerage Ltd. is the entity named in the footer of every page and in the structured data of the site, and it is the company tied to Iraqi registration 30984. Two further names appear across the broker own properties. Myrtle Trade Brokerage is the brand under which the business is listed, and it also supplies the MetaTrader server name. Myrtle Trading LLC is the title of the client portal where new accounts are opened. The company form differs between the first and the last of those, and the site does not explain how the three names relate to one another.
Is Myrtle Safe?
Myrtle carries the risks that come with a broker whose licensing is unconfirmed. In its favour, the operator is a registered Iraqi company with a published registration number, a street address in Erbil, a working MetaTrader 5 server and a trading history under two brand names since January 2022. Against that, no financial regulator has been confirmed behind it, so there is no official register on which a client can check the firm, no supervisory body to escalate a dispute to and no compensation scheme if it fails. The broker publishes no client fund segregation or insurance arrangement of its own, and its own terms describe the service as execution only, with no investment advice or portfolio management.
Myrtle Account Types
Myrtle publishes one live account, called Standard. It requires a minimum deposit of 100 USD, allows leverage of up to 1:200, charges no commission and quotes floating spreads. There is no second tier, no ECN or professional account and no separate swap free product. The broker does state that its service is adapted to Islamic Sharia law on most executed transactions, which is how the swap free arrangement is offered.
Myrtle Spreads, Commissions and Fees
The Standard account charges no commission, and Myrtle describes its spreads as floating without publishing a figure for any instrument. Its home page claims to charge the lowest spreads of any broker, a claim it supports with no numbers. No deposit or withdrawal fee is published for any payment channel either. The practical position is that a prospective client cannot price a trade or a transfer from the site, and should ask for the current spread and any transfer charge in writing before funding an account.
Myrtle Leverage
Myrtle offers leverage of up to 1:200 on its Standard account. That is the only leverage figure the broker publishes.
Myrtle Trading Platforms
MetaTrader 5 is the only platform Myrtle offers, and no second platform is available. The broker publishes its own installers and markets the platform for Windows, macOS, Android, iOS and the browser, with a web terminal on its own address. Client accounts run on the broker MyrtleTradeBrokerage server. Across those builds the broker lists 28 currency pairs and ten CFD contracts covering precious metals, energy and major stock indices, which is a narrow instrument range by industry standards.
Myrtle Deposits and Withdrawals
Myrtle names six funding channels on its home page and uses the same set for deposits and withdrawals: AsiaHawala, ZainCash, FastPay, PayPal, WebMoney and cryptocurrency. Three of those, AsiaHawala, ZainCash and FastPay, are Iraqi payment services, which reflects the broker domestic focus. What the site does not publish is the detail that matters: no fee, no processing time and no minimum or maximum amount appears for any channel, and no coins or networks are named for the cryptocurrency option. Cryptocurrency here is a way to move money rather than something to trade. Anyone planning to fund an account should have the fees, limits and withdrawal timescales confirmed by the broker first.
Myrtle Support
Myrtle publishes two Erbil telephone numbers, +964-0770-198-9494 and +964-0750-198-9494, the email address info@myrtle.ltd and a contact form, at Office 16, 2nd Floor, AB White Building, Gulan Street, Erbil 44001, Iraq. The home page promises 24/7 expert support for registered clients, but the site publishes no business hours, no response time commitment and no supported support languages, and its navigation offers no FAQ or help centre. Support is reachable, then, but on terms the broker does not set out in advance.
Myrtle Pros and Cons
On the positive side, the operator is a named and registered company with a verifiable Iraqi registration number and a published Erbil address. It offers a mainstream platform in MetaTrader 5 across desktop, mobile and web, a low entry point at 100 USD with no commission on the published tier, and a payment list built around services that clients inside Iraq can actually use.
The limitations are more serious. No financial regulator has been confirmed, while the site headline claims to be the only licensed brokerage in Iraq and Kurdistan. The operator appears under three different names across its own properties. There is a single account tier and a narrow instrument range. And none of the costs that decide whether an account is worth opening, meaning the spread, the funding fees and the withdrawal timescales, are published anywhere on the site.
Myrtle Review and Assessment
Myrtle is a small, domestically focused Iraqi broker with a real registered company behind it, a single MetaTrader 5 offering and an entry point most retail clients can meet. The decisive question for anyone considering it is regulatory: the company registration it publishes is genuine but it is not a financial licence, and the licensing claim on its home page is supported by nothing the site shows. Before funding an account, a prospective client should ask the broker in writing which authority licenses it to hold client money and under what number, and should have the spread, the funding fees and the withdrawal timescales confirmed in the same place.
Website archive
Website snapshots
2 full-page captures of MYRTLE's own site, archived so what they said can still be read after the pages change.
2 pages
Regulation check
Regulatory Licenses
We have not confirmed any regulation for MYRTLE. Money deposited with an unregulated broker is protected only by the company itself.
No regulation
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for MYRTLE. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Trading accounts
Account Types
One account type on record. Minimum deposit from USD 100. Leverage up to 1:200.
1 account type
| Account | Min Deposit | Leverage | Commission |
|---|---|---|---|
| StandardStandard | USD 100 | 1:200 | 0 |
Client acceptance
Country availability
Where MYRTLE says it will and won't take clients
No country restrictions on record. We looked and found nothing published — which is not the same as being open to everyone. Check MYRTLE's terms.
How we know — 9 sources
- 1No country policy is published anywhere on the broker's own website. Its sitemap at https://myrtle.ltd/sitemap.xml enumerates the site in full at twelve pages, and none of them is a terms or client-agreement document, a restricted-countries page, an FAQ or help centre, an AML or KYC policy, or a deposit and withdrawal page. Candidate paths for every one of those return the site's own not-found page, on the plain URL and on locale-prefixed variants alike.
- 2The only legal document the site publishes is https://myrtle.ltd/disclaimer, and it names no jurisdiction the broker refuses. The standing clause repeated in the footer of every page reads: "The information regarding any financial undertaking through the services provided by (Myrtle) is not disclosed to any certain individuals residing in any jurisdiction and the use or distribution of such information by any individual or jurisdiction is prohibited if such a procedure would violate any law or regulation". That is a conditional unlawfulness clause naming neither a country nor a category of country, so no code is recorded from it.
- 3The same clause carries over to the site's Arabic and Kurdish variants, which render in place at the same URLs rather than on separate paths, with the same meaning and no country named. English, Arabic and Kurdish are the only three variants the site offers.
- 4The registration form at https://portal.myrtle.ltd/en/auth/sign-up holds a country selector carrying the complete set of 249 officially assigned ISO 3166-1 alpha-2 entries, with nothing omitted and nothing added, down to uninhabited territories such as Antarctica and Bouvet Island. The introducing-broker flow at the same address carries an identical list. An unabridged world list excludes nobody, so it evidences neither a block nor an acceptance, and it is not the closed selector that would support a whitelist.
- 5Onboarding is in practice gated by an unpublished country check rather than by that selector. The client portal's own code treats an HTTP 481 response from its backend as "access from this country is restricted" and renders https://portal.myrtle.ltd/assets/errors/country-blocked.html, whose text reads "Access to this website is restricted from your country" beside the visitor's IP address and country. Neither that page nor any configuration the portal publishes names which countries are affected, so the operative policy cannot be read off the broker's own pages.
- 6No code is recorded for Iran in either direction. The broker's client portal does publish a Persian-language registration flow at https://portal.myrtle.ltd/fa/auth/sign-up, and Persian is one of only four locales its onboarding offers at all, alongside English, Kurdish and Arabic, while the marketing site itself offers no Persian variant. A deliberate locale is not a statement about who is onboarded, and the enforcing country check described above is unpublished, so Iran is placed in no list.
- 7No whitelist is recorded. The broker publishes no accepted-countries list. Its home page claims it is "The only licensed brokerage authorized in Iraq and Kurdistan" and its published payment options are Iraqi domestic rails, which identifies its home market rather than stating whom its onboarding accepts, and a single-entry whitelist would wrongly imply every other country is refused.
- 8No regulator filing of permitted jurisdictions exists to consult: the broker names no financial regulator anywhere on its site, citing only company registration number 30984 with the Ministry of Commerce of the Republic of Iraq. A company registration states no permitted territory.
- 9The former-brand domain forexiraq.net now serves the same single-page site as myrtle.ltd, footer clause included, so there is no second site of this broker publishing different country terms.
Deposits & withdrawals
Funding Methods
6 ways to fund an account.
6 methods
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
| AsiaHawalaE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
| ZainCashE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
| PayPalE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
| WebMoneyE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
| FastPayE-Wallet1 | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
CryptocurrencyCryptocurrencyNamed in the Payment Options card on Myrtle's home page, which states that both deposits and withdrawals can be made through it. The site names no coins or networks, and publishes no fee, no processing time and no minimum or maximum amount for this channel, so those terms should be confirmed with the broker before funding an account. | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | day |
Broker's notes on these methods
- Named in the Payment Options card on Myrtle's home page, which states that both deposits and withdrawals can be made through it. Myrtle publishes no fee, no processing time and no minimum or maximum amount for this channel anywhere on its site, so those terms should be confirmed with the broker before funding an account. · applies to 5 methods
Trading software
Trading Platforms
One trading platform on record: MetaTrader 5.
1 platform
Websites
Global Domains
6 domains on record. All active and served over HTTPS.
6 domains
Legal entities
Corporate Network
One legal entity behind the MYRTLE brand.
1 entity
- Myrtle Company for Trade Brokerage Ltd.ActiveIraqRegistration 30984
Company registry check
Company Registration
MYRTLE names Myrtle Company for Trade Brokerage Ltd. as the operating company. We could not confirm that registration on the registry.
Not confirmed on registry
- Legal entity
- Myrtle Company for Trade Brokerage Ltd.
- Registration number
- 30984
- Jurisdiction
- Iraq
- Registry
- Ministry of Commerce, General Directorate of Companies Registration (Iraq)
- Registered address
- Office #16, 2nd Floor, AB White Building, Gulan St., Erbil 44001, Iraq
Peer comparison
Brokers worth comparing
2 other brokers on the record share what MYRTLE offers — its country, regulator, account types or platforms — set beside it on the same measures.
2 peers
MYRTLE
This recordIraq · since 2022· Myrtle Trade BrokerageWikilix score 44.3RegulationNo RegulationMax leverage1:200Platforms1LicencesNot recordedACM
India · since 2002· Aristro Capital Markets Ltd.Wikilix score 44.4RegulationRegulatedSECMax leverageNot recordedPlatformsNot recordedLicences1FXORO
Seychelles· ORO FINTECH LIMITEDWikilix score 44.4RegulationRegulatedFSAMax leverage1:400Platforms1Licences2
Frequently Asked Questions
Frequently Asked Questions
Common questions about MYRTLE
Most Popular Questions
Yes. The broker states that its service is adapted to Islamic Sharia law on most executed transactions, and it markets Islamic accounts on its home page. This is offered as a feature of its single Standard account rather than as a separate account type, and the site does not set out which transactions fall outside the arrangement or whether any administration charge replaces the swap.
Myrtle Trade Brokerage does not publish a withdrawal processing time. None of its six payment channels carries a stated timescale, fee or minimum or maximum amount anywhere on its site. Anyone planning to deposit should get the withdrawal time and any charge confirmed in writing first, because there is no published commitment to hold the broker to.
Myrtle Trade Brokerage publishes two Erbil telephone numbers, +964-0770-198-9494 and +964-0750-198-9494, the email address info@myrtle.ltd, and a contact form on its website. Its office is at Office 16, 2nd Floor, AB White Building, Gulan Street, Erbil 44001, Iraq. The home page promises 24/7 support for registered clients, but the site publishes no business hours, no response time commitment and no FAQ or help centre of its own.
Yes. Myrtle is the current name of the business that previously traded as Forex Iraq, and every page of its website is titled Myrtle (formerly Forex Iraq). The former brand's domain still serves the Myrtle site, and the social accounts the site links to are still under the Forex Iraq handles.
The operating company is Myrtle Company for Trade Brokerage Ltd., registered in Iraq under number 30984 with the Ministry of Commerce on 19 January 2022 and based at Office 16, 2nd Floor, AB White Building, Gulan Street, Erbil. Two further names appear across the broker's own properties: Myrtle Trade Brokerage, the brand and the name of its MetaTrader server, and Myrtle Trading LLC, the title of the client portal where accounts are opened. The site does not explain how the three names relate to each other.
Myrtle Trade Brokerage publishes 28 currency pairs and ten CFD contracts, covering precious metals, energy and major stock indices. That is a narrow range by industry standards. Cryptocurrency appears on the site as a way to deposit and withdraw rather than as something to trade.
The Standard account carries no commission, and Myrtle Trade Brokerage describes its spreads as floating. It publishes no spread figure for any instrument, and its claim to charge the lowest spreads of any broker comes with no numbers attached. No funding fee is published either, so the cost of trading and of moving money cannot be worked out from the site and should be requested from the broker directly.
Myrtle Trade Brokerage offers one live account, called Standard. It takes a minimum deposit of 100 USD, allows leverage of up to 1:200, charges no commission and quotes floating spreads. There is no second tier and no ECN or professional account.
The minimum deposit is 100 USD. That is the figure published for the Standard account, which is the only live account Myrtle Trade Brokerage offers, so it is the entry point for every client. The broker publishes no lower tier and no cent or micro account.
Myrtle Trade Brokerage offers leverage of up to 1:200. That applies to its single Standard account, and it is the only leverage figure the broker publishes. Leverage at that level magnifies losses as much as gains, so a small adverse move can be enough to close a position.
Myrtle Trade Brokerage lists six funding channels and uses the same set for deposits and withdrawals: AsiaHawala, ZainCash, FastPay, PayPal, WebMoney and cryptocurrency. Three of them are Iraqi payment services, which fits a broker operating out of Erbil. The site publishes no fee, no processing time and no minimum or maximum amount for any of these channels, and names no coins or networks for the cryptocurrency option, so those terms have to be confirmed with the broker before an account is funded.
MetaTrader 5 is the only platform Myrtle Trade Brokerage offers. The broker publishes it as a Windows terminal, as Android and iOS apps, for macOS and as a browser based web terminal on its own address, with client accounts running on its MyrtleTradeBrokerage server. No second platform is available.
No financial regulation has been confirmed for Myrtle Trade Brokerage. The only authorisation the broker publishes is an Iraqi company registration, number 30984 with the Ministry of Commerce of the Republic of Iraq dated 19 January 2022, and a company registration is not a financial licence. Its home page claims it is the only licensed brokerage authorized in Iraq and Kurdistan, but the site names no regulator, quotes no licence number and links no register entry. Trading with a broker whose licensing is unconfirmed means there is no supervisor to escalate a dispute to and no compensation scheme if the firm fails.
Comments
Share your thoughts and experiences with MYRTLE