Wikilix
Contract reading

What MYRTLE legally published, but does not want you to read

Every clause below is published by MYRTLE itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Myrtle Company for Trade Brokerage Ltd.

language arbitrageconflict of interestcost disclosurecounterparty identityentity mismatchexecution policyexpired certificatehidden feeislamic accountiso certificate

Myrtle publishes no client agreement, no terms and no privacy policy. Its home page promises a legal contract between the firm and its clients, in English, Arabic and Kurdish. Four different company names appear across its own pages, and the sign up form gives you nothing to accept. The Arabic and Kurdish pages promise swap free trading, which the English page limits to most of your trades.

Back to MYRTLE

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
2
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
9
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
7
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
4

How the 9 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical2
Warning7
Notice0

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

1 of these 2 figures comes from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical0In the contract. Jump to the clause this comes from.Myrtle promises a legal contract and publishes none200Account limit. Jump to the clause this comes from.Leverage to 1:200 with nothing said about negative balances

What the documents say

9 clauses worth knowing about, worst first, each quoted from MYRTLE's own files

01

Myrtle promises on its home page to set up a legal contract with every client. You get none: no client agreement, no terms, no privacy policy, and nothing to accept on the sign up form.

Why this matters

Nothing published says when Myrtle must pay a withdrawal, what it can charge you, or what happens to your balance if it closes your account. If your money does not arrive, you have no document to point to and no deadline to hold Myrtle to.

Exhibit 1CriticalRarely seen0

We establish a legal contract between our firm and our clients.
Clause Why trade with Myrtle: Legal contract in Home page: footer legal notice, risk warning and headline claims
Read from the broker's site on Open the reference

Our readingBrokers normally publish a client agreement even when it favours them, because the agreement is what lets the firm say no later. Myrtle sells accounts with no published terms at all, so the relationship rests on whatever it decides at the time.

  • Worse together with Exhibit 3With no agreement and no price list, nothing published says what a trade costs or what Myrtle may take from your balance.
  • Worse together with Exhibit 6No contract and no complaints procedure leaves you with no route, no deadline and no decision you can appeal.
02

Myrtle names four different companies across its own pages. The English footer says Myrtle Company for Trade Brokerage Ltd. The Arabic disclaimer says Myrtle Company for Financial Consulting Ltd. The certificates say MYRTLE FINANCIAL CONSULTION CO., LTD, and the page where you register says Myrtle Trading LLC.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

You cannot tell which company takes your deposit, and no agreement names one. If you have to chase your money, you need the right company name, and Myrtle's own pages give you four.

Exhibit 2CriticalRarely seen4

It is the only trade name that its rights are reserved for the financial consulting company (Myrtle Company for Trade Brokerage Ltd.).
Clause Paragraph 1 in Disclaimer
Read from the broker's site on Archived copyOpen the reference

Our readingA broker normally names one contracting company, in the first paragraph of its client agreement. Myrtle has no agreement, and the name changes between its English pages, its Arabic pages, its certificates and its registration portal.

  • Worse together with Exhibit 5You cannot identify the company that holds your money, and no supervisor is named who could be asked about it.
03

Myrtle publishes one cost figure for its Standard account: commission 0. It prints no spread, no swap rate and no payment fees. Its disclaimer still tells you to find the commission, spread and leverage on its website.

Why this matters

The spread is what you actually pay on every trade, and Myrtle never says what it is. You can deposit through six payment methods, including PayPal and crypto, with no published fee or timing for any of them.

Exhibit 3WarningHarder than usual

Before you start trading, you should know all the detailed information on our website including (trading type, account type, commission, spread, expiration time, leverage, etc.) and any other trading activities related to the market (www.Myrtle.ltd).
Clause Paragraph 4 in Disclaimer
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client the costs and charges of a trade before they place it. Myrtle publishes a zero commission and no spread, swap or payment fee anywhere.

MYRTLE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

04

The Arabic home page says your trades carry no swaps at all. The English version of the same slide says Myrtle prevents swaps on most of your trades. Myrtle publishes no swap rates and no list of which trades it covers.

Why this matters

A swap is the overnight charge for holding a position, and on an Islamic account you expect none. If your trade falls outside the ones Myrtle covers, nothing published tells you what the charge will be.

Exhibit 4WarningHarder than usual

Our broker is customized to accommodate the Islamic Sharia Law, and prevent swaps to be charged on most of your trades.
Clause Home page carousel, slide 2 in Home page: footer legal notice, risk warning and headline claims
Read from the broker's site on Open the reference
Our own capture of myrtle.ltd, taken on Oct 5, 2026The claim, on Arabic version of the home page carousel, slide 2, headed Islamic account and Swap freeThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of myrtle.ltd, taken on Oct 5, 2026What the contract says, clause Home page carousel, slide 2Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 3A swap free promise with no swap rates published gives you nothing to check the promise against.
05

Myrtle calls itself the only licensed brokerage authorized in Iraq and Kurdistan. The only registration it names is company number (30984) at the Ministry of Commerce, which is a company registry entry. No financial regulator, licence number or compensation scheme appears anywhere on the site.

Why this matters

Nothing published says your money is held apart from Myrtle's own, and no scheme pays you back if the firm fails. If something goes wrong, there is no supervisor named for you to complain to.

Exhibit 5Warning

The only licensed brokerage authorized in Iraq and Kurdistan.
Clause Home page carousel, slide 1 in Home page: footer legal notice, risk warning and headline claims
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must publish the regulator and the licence number, keep client money in separate accounts, and name a compensation scheme. Myrtle publishes a company registration number and nothing else.

MYRTLE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Leverage up to 1:200, published as a table with no terms behind it

Myrtle publishes leverage up to 1:200, 1% margin and a 20% stop out for its one Standard account. A $100 deposit can support a $20,000 position. Nothing published says what happens if a loss takes your account below zero.

Trading conditions1 clause flagged

Myrtle offers leverage up to 1:200 on currency pairs, with 1% margin and a stop out at 20%. Leverage multiplies both the gain and the loss. Nothing published says what happens if your account falls below zero.

Why this matters

At 1:200, your $100 minimum deposit controls a position worth $20,000. If a loss takes the account below zero, nothing Myrtle publishes says it writes that balance off.

Exhibit 8WarningStandard wording200

Max Leverage up to 200
Clause Standard account table in Accounts: Standard account trading conditions
Read from the broker's site on Open the reference

What it costsThe minimum deposit is $100. At up to 1:200, that $100 supports a position of up to $20,000.

Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA, and firms under ESMA rules, may give a retail client no more than 30:1 on major currency pairs, and must write off a negative balance. Myrtle publishes up to 1:200 and says nothing about negative balances.

MYRTLE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A complaint goes to an email address, with no process behind it

Myrtle publishes no complaints procedure, no deadline and no independent body to escalate to. The only line about legal action is Myrtle reserving its right to sue. It appears in the Arabic and Kurdish footers only, and the English footer stops one sentence earlier.

If it goes wrong1 clause flagged

Myrtle publishes no complaints procedure, no deadline for raising one and no independent body to escalate to. The only sentence about legal action is Myrtle reserving its right to sue, and it appears only in Arabic and Kurdish.

Why this matters

A complaint to Myrtle goes to an email address, with no time limit, no written process and no answer you can appeal. The English footer does not carry the sentence about legal action that the Arabic and Kurdish ones do.

Exhibit 6WarningHarder than usual

تحتفظ الشركة بالحق في رفع دعوى قضائية
Clause Footer legal notice (Arabic version) in Home page: footer legal notice, risk warning and headline claims
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must run a written complaints procedure with fixed deadlines, and must give a retail client access to an independent complaints scheme. Myrtle publishes no procedure and names no scheme.

MYRTLE is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Myrtle denies any conflict and publishes nothing that shows it

Myrtle tells Arabic readers that no conflict exists between the broker and the client, because of a mechanism and a contract. Neither is published. No execution policy, no conflicts policy and no statement of whether Myrtle takes the other side of your trades appears anywhere.

Both sides of the trade1 clause flagged

Myrtle tells Arabic readers there is no conflict between the broker and the client, because of a mechanism and a contract. It publishes neither. Nothing says whether Myrtle is the other side of your trades.

Why this matters

If Myrtle takes the other side of your trades, it gains when you lose, and you have no policy to check that against. Its own pages promise transparency and an STP route, with no execution policy behind the words.

Exhibit 7WarningHarder than usual

Myrtle is brokerage whom serves as intermediate between customer and the market, by establishing a contract and certain mechanism that allows our customers to execute all their orders and transactions on their own completely transparently without an influence from their broker.
Clause What makes us unique: Conflict of Interest in Home page: footer legal notice, risk warning and headline claims
Read from the broker's site on Open the reference

A licensed brokerage claim with a company registry number behind it

Myrtle calls itself the only licensed brokerage authorized in Iraq and Kurdistan. The only registration it names is company number (30984) at the Ministry of Commerce, and it names no financial regulator. The four certificates it displays are ISO management certificates that state they were valid until 24 May 2026.

Status and credentials1 clause flagged

The four PDFs Myrtle shows on its home page are management system certificates, not financial licences. All four state that they were valid until 24 May 2026. Myrtle still displays them.

Why this matters

An ISO certificate covers how a company runs its paperwork and its computers, not whether it may hold your money. These four cover general trading, import and export, and they name a financial consulting company.

Exhibit 9Warning4

24 May 2026
Clause Valid Until in ISO/IEC 27001:2022 Certificate of Registration, p.1
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

Arabic promises no swaps at all, and the English version of the same slide covers most of your trades.

Said in public, in Arabic

يتم تنظيم المعاملات المالية وفقًا لأحكام دستور الشريعة الإسلامية ولا تخضع لأي مقايضات.

Word for word in English: Financial transactions are organised according to the provisions of the Islamic Sharia constitution and are not subject to any swaps.

Arabic version of the home page carousel, slide 2, headed Islamic account and Swap free

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of myrtle.ltd

In the contract · clause Home page carousel, slide 2

Our broker is customized to accommodate the Islamic Sharia Law, and prevent swaps to be charged on most of your trades.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of myrtle.ltd

02

Kurdish says swaps are never charged, and the English version of the same slide covers most of your trades.

Said in public, in CKB

مامەڵە دارییەکان بەشێوازی دەستووری شەریعەتی ئیسلامی ڕێکخراوە و بە‌هیچ شێوەیەک سوو (سواپ) ناچێتە سەری.

Word for word in English: Financial transactions are organised according to the constitution of Islamic Sharia, and in no way is interest (swap) charged on them.

Kurdish version of the home page carousel, slide 2, branded Forex Iraq

In the contract · clause Home page carousel, slide 2

Our broker is customized to accommodate the Islamic Sharia Law, and prevent swaps to be charged on most of your trades.

03

The licence claim rests on a company registration at the Ministry of Commerce, and no regulator is named.

Said in public, in English

The only licensed brokerage authorized in Iraq and Kurdistan.

Home page carousel, slide 1, under the heading Brokerage Firm

In the contract · clause Paragraph 1

It is officially registered under number (30984) in the Ministry of Commerce - Republic of Iraq, General Directorate of Companies Registration on (19/1/2022).

04

One disclaimer page names a different company in Arabic than it does in English.

Said in public, in Arabic

فوركس العراق هو الاسم التجاري الوحيد الذي تحفظ حقوقه لشركة الاستشارات المالية (شركة ميرتل للاستشارات المالية المحدودة)

Word for word in English: Forex Iraq is the only trade name whose rights are reserved for the financial consulting company (Myrtle Company for Financial Consulting Ltd.)

Arabic version of the disclaimer page, paragraph 2

In the contract · clause Paragraph 1

It is the only trade name that its rights are reserved for the financial consulting company (Myrtle Company for Trade Brokerage Ltd.).

The documents this reading is based on

7 files, all published by MYRTLE. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording MYRTLE publishes.

How this reading was done

Every clause above was read out of a document MYRTLE publishes itself

This reading was published on .

Documents
7 of 7downloaded from the broker's site, and 7 read in full
Pages opened
23pages walked to find those documents, footer links included
Marketing pages
3public pages set against what the contract says
Languages
AR vs CKB vs ENthe language it advertises in, against the language it contracts in

Who the contract is with

Myrtle Company for Trade Brokerage Ltd.

Four company names appear across Myrtle's own published material. The footer on every page and the English disclaimer name Myrtle Company for Trade Brokerage Ltd., registered under number (30984) at the Ministry of Commerce in Iraq. The Arabic version of the same disclaimer names Myrtle Company for Financial Consulting Ltd. and gives Forex Iraq as the trade name. All four certificates name MYRTLE FINANCIAL CONSULTION CO., LTD (FOREX IRAQ) at an office on Gulan Street in Erbil. The sign in and sign up pages of the client portal are headed Myrtle Trading LLC. No client agreement exists to settle which of them takes your deposit. Myrtle describes 30984 as a registration at the General Directorate of Companies Registration, which is a company registry entry, and it names no financial regulator anywhere on the site.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Myrtle puts a plain risk warning in the footer of every page, in all three languages, instead of hiding it in a PDF. The disclaimer page says in ordinary words that trading can cost you all your capital. It also says Myrtle gives no investment advice and that you should take independent advice. The instrument tables list leverage, margin and contract size for every symbol, which many brokers leave out. Myrtle publishes its office address in Erbil and two phone numbers, and that address matches the one printed on its certificates.

There was no client agreement, no terms, no privacy policy and no payment terms to read, because Myrtle publishes none. Its own sitemap lists twelve pages and not one of them is a legal document. We read all four certificate PDFs in full, and every page of the website in English, Arabic and Kurdish. We could not see what a client is asked to agree to inside the account portal, which sits behind a login, and the public sign up form shows nothing to accept. No earlier version of these pages or certificates is available, so this is a first reading with nothing to compare against. Myrtle serves its Arabic and Kurdish pages at the same addresses as the English ones, so the Arabic and Kurdish wording quoted here appears only after you switch language on the page.

How to check any of this yourself

Every quote above links to the MYRTLE file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document MYRTLE publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge MYRTLE on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 5, 2026.

If you represent MYRTLE and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on MYRTLE. Whether its licence is real and current is a separate check on the broker profile.

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