Live Chat w/ Forex said does not and will not trade Iraq Dinar

[Who_Dat_Gurl]

Chat InformationPlease wait for a site operator to respond.

Chat InformationYou are now chatting with 'Edward'

Edward: Welcome to FXCM's Live Chat. How can I help you?

Michelle: I have never traded before, and am new to this lingo

Michelle: I am curious about Iraq stock

Edward: ok

Michelle: will this be showing up tomorrow

Edward: Well do you mean the currency for Iraq?

Michelle: yes, what is the currency

Michelle: dinar worth?

Edward: It is called the Iraqi dinar

Edward: Michelle

Michelle: Ok

Edward: the dinar is not a currency that we offer

Michelle: will you be offering it soon, as I did hear that earlier today

Edward: No that is not a currency that we will offer

Edward: it is a an extremely non liquid pair

Michelle: what does that mean?

Edward: its not a popular pair to trade

Edward: in fact i dont know anyone that trades it

Edward: if it were tradeable

Edward: the spread would be extremely

Edward: high

Edward: and non one would trade it

Edward: Is there a reason why you are wondering about it

Michelle: yes, because there is hype that it will be able to trade very soon

Michelle: as soon as this week

Michelle: and what does spread mean?

Edward: the spread is the difference between the buy and sell price

Edward: how much were you looking to open an account with

Michelle: US OTFS did something today

Michelle: that shocked everyone - or should I say everyone was waiting for

Edward: Well the Iraqi dinar

Edward: is not a currency that we will be offering

Michelle: why did you ask me how much I was looking to open with?

Michelle: just curiou

Michelle: curious

Edward: To see which type of platform you would be suitable for

Edward: http://www.fxcm.co.uk/spreads.jsp

Michelle: but if you do not offer, why ask me?

Edward: here is a list of currency pairs

Edward: that we offer

Edward: Just curious

Edward: What else may i help you with

Michelle: oh, ok

Michelle: no, that will be all

Edward: Thank you for chatting! For Top FAQ’s, How To’s & Visual Guides for your live account, please visit FXCM’s Online support Forum at:

Edward: http://forexforums.dailyfx.com/fxcm-online-support/

Chat InformationChat session has ended.

[Mojo]

This guy just opens accounts and reads a list has no idea when this currency will trade when it does go live get him back online and he will say yes we have IQD what kind of account would you like to open

[dinarded]

He's just an order taker.....an operator so to speak....I doubt he would know anything about the IQD anway.

[PNixon]

Hmm . . .

[okman]

how embarrassing...IMO

[bayoubobby]

how embarrassing...IMO

embarrassing for whom? not for who-dat-gurl, she did a savvy thing

relax, let it come to you

[mrparrot]

Don't read too much into this.

Not all forex brokers trade all currencies.

Most of the forex brokers that let you

set up accounts for online trading trade

just the major pairs.

[RicknSaudi]

Thanks for the post, WDG

[Who_Dat_Gurl]

Thanks bayoubobby, I am not embarrassed and I thought it was a good move to at least check it out. Smooothe,,,

[tampa1000]

He's an order taker, he wouldn't know if it hit him in the head!!! Ive heard the same at 5/3 Bank and they sell it!!!

Edited September 14, 2010 by tampa1000

[toddhartle1]

Thanks bayoubobby, I am not embarrassed and I thought it was a good move to at least check it out. Smooothe,,,

Good on you, you did good!!!

[bayoubobby]

Thanks bayoubobby, I am not embarrassed and I thought it was a good move to at least check it out. Smooothe,,,

I gotta black belt in dumb ass

we have many options, we are not 'locked in' to anybody

things happen when they're supposed to happen, the way they're supposed to happen

[FloridaChick]

This guy just opens accounts and reads a list has no idea when this currency will trade when it does go live get him back online and he will say yes we have IQD what kind of account would you like to open

Hahaha! That's the truth!

[muydinar]

embarrassing for whom? not for who-dat-gurl, she did a savvy thing

relax, let it come to you

Savy?? Have a chat with a $10 per hour employee. Or shall I say bugging a $10 per hour emplyee.

Stock??

LOL

Hilarious!!

[Who_Dat_Gurl]

Yea, I know. Sorry, wrong lingo- some of it was on purpose , some of it was serious. I am new to this, what can I say?

[bayoubobby]

Savy?? Have a chat with a $10 per hour employee. Or shall I say bugging a $10 per hour emplyee.

Stock??

LOL

Hilarious!!

enjoy your schadenfreude, you have your reward

[PNixon]

Yea, I know. Sorry, wrong lingo- some of it was on purpose , some of it was serious. I am new to this, what can I say?

Well woman, we would be singing songs about you well into the future if you had stumbled on something in that conversation. I say good try!!!!!

Paul

P.S. If it weren't for people trying we would have nothing.

[Dryden01]

They have economists taking chat enquiries at fourex these days?

[Bobbydee]

WDG you did a fine job. You get an A+ for your hard work. God Bless Semper Fi

[wmawhite]

Chat InformationPlease wait for a site operator to respond.

Chat InformationYou are now chatting with 'Edward'

Edward: Welcome to FXCM's Live Chat. How can I help you?

Michelle: I have never traded before, and am new to this lingo

Michelle: I am curious about Iraq stock

Edward: ok

Michelle: will this be showing up tomorrow

Edward: Well do you mean the currency for Iraq?

Michelle: yes, what is the currency

Michelle: dinar worth?

Edward: It is called the Iraqi dinar

Edward: Michelle

Michelle: Ok

Edward: the dinar is not a currency that we offer

Michelle: will you be offering it soon, as I did hear that earlier today

Edward: No that is not a currency that we will offer

Edward: it is a an extremely non liquid pair

Michelle: what does that mean?

Edward: its not a popular pair to trade

Edward: in fact i dont know anyone that trades it

Edward: if it were tradeable

Edward: the spread would be extremely

Edward: high

Edward: and non one would trade it

Edward: Is there a reason why you are wondering about it

Michelle: yes, because there is hype that it will be able to trade very soon

Michelle: as soon as this week

Michelle: and what does spread mean?

Edward: the spread is the difference between the buy and sell price

Edward: how much were you looking to open an account with

Michelle: US OTFS did something today

Michelle: that shocked everyone - or should I say everyone was waiting for

Edward: Well the Iraqi dinar

Edward: is not a currency that we will be offering

Michelle: why did you ask me how much I was looking to open with?

Michelle: just curiou

Michelle: curious

Edward: To see which type of platform you would be suitable for

Edward: http://www.fxcm.co.uk/spreads.jsp

Michelle: but if you do not offer, why ask me?

Edward: here is a list of currency pairs

Edward: that we offer

Edward: Just curious

Edward: What else may i help you with

Michelle: oh, ok

Michelle: no, that will be all

Edward: Thank you for chatting! For Top FAQ’s, How To’s & Visual Guides for your live account, please visit FXCM’s Online support Forum at:

Edward: http://forexforums.dailyfx.com/fxcm-online-support/

Chat InformationChat session has ended.

This means absolutely.............nothing.

[Serenity]

Even if he knew anything, he can't....INSIDER TRADING is a NO NO!!!

[Doc31]

Thanks for the post!

[dlbfilm]

And once again this is why we have a rumor section....

[frankc]

Good job. Thanks for trying.

[DavidAames]

I work for a rival company of this gentleman you are all bashing and I have nothing but sympathy for him. We have a million clients coming on a day asking about the IQD and quite frankly, you're all extremely misinformed.

1. Lets look at an emerging economy currency that is widely traded right now: lets use USD/ZAR(that is the South African Rand, im sure some of you will need to Google it so I will save you the time)

The current spread on that is 55 pips, that means for every 10k trade you place, you are paying 55 dollars to place that trade. And this is at the most liquid(highly traded) time for that currency pair.

Now lets look at GBP/SEK(Thats the Great British Pound vs the Swedish Krone) that is currently trading with a 62 pip spread. That means if you place a 10k trade, you are paying 62 dollars for it.

2. Forex brokers are getting these prices and currencies from major banks, hedge funds, and institutions. They are not going to stream a currency from a country that is extremely unstable, full of conflict,and civil strife. The Iraqi Dinar is susceptible to hyperinflation and is nearly worthless. 1 USD is 1,169.55 IQD. Do you realize how worthless that is?

3. Lets explore hyperinflation even more. Lets look at Post War Weimar Reppublic. The German banknote was worthless. They were printing 1 million dollar notes and people would rather use it as wallpaper than to buy things with. Economies like this are based on bartered goods and state printed currency would not be widely accepted. You would probably get further with a pack of cigarettes than an IQD.

4. I have two words for you: Zimbabwean Dollar. Guess what their biggest bill is? One Trillion dollars.

I will leave you with some parting words. The people you talk to on these chat services are hard working people just like you. We have college degrees in Economics, Mathematics, Sciences, and etc. We are paid salaries and enjoy what we do(including talking to the uninformed such as the people on this ridiculous forum).

I realize that some of you just dont know, and thats fine. We're more than happy to educate you. But you when you claim that we're just order taking robots that make crappy 10 dollar hour wages, you are sadly mistaken.

@Who Dat Girl, bless you. I can tell you honestly just dont know and thats fine.

But frankly, I know more about trading and markets than most of you combined. If you guys ever open accounts with any brokerage firm, come talk to me when you get slipped or re-qouted. That's when school will really begin.

Regards,

David Aames