Parallelization allows accelerating the computation of Electromagnetic Transients (EMTs). It can rely on the natural propagation delay of transmission lines (line-delay) to decouple a network into sub-networks without any loss of accuracy. Other techniques have to be used when there is no line-delay available. This paper presents one of them, using the Compensation Method (CM). This method is applied to decouple and parallelize real-time EMT simulations. The main novelty towards previous works is the introduction of an iterative version of CM to handle nonlinearities. The performance and accuracy of CM is studied through test cases, including practical distribution and High Voltage Direct Current (HVDC) networks. Hardware-In-the-Loop (HIL) setups with Line-Commutated Converters (LCC) and Voltage Source Converters (VSC) are used to test the iterative CM on practical real-time nonlinear cases.