How do I buy the Indexes on ISX

[rico]

Maybe I don't fully understand how to buy stock on the ISX. I read all of Adam's information. I have a Warka account funded with "x" million Dinar in my IQD Savings. I have a trading number. I know I need to send an order to Warka, etc. I know you must buy a minimum of 200,000 shares of whatever stock you want.

My question is: Does that apply to buying one of the Indexes also? In other words, if I want to buy the "Banking Index" -- the close price was 100. So if I have to buy 200,000 shares, that couldn't mean I owe 100 X 200,000 shares, or 20,000,000 Dinar does it? Or, do I just buy how many 100's I can?

Rico

[haymon]

HELP I did it again. Wanted to give a plus and hit the red instead.

I too would like to put some money into the index. Please inform us that do not know.

[normand]

Maybe I don't fully understand how to buy stock on the ISX. I read all of Adam's information. I have a Warka account funded with "x" million Dinar in my IQD Savings. I have a trading number. I know I need to send an order to Warka, etc. I know you must buy a minimum of 200,000 shares of whatever stock you want.

My question is: Does that apply to buying one of the Indexes also? In other words, if I want to buy the "Banking Index" -- the close price was 100. So if I have to buy 200,000 shares, that couldn't mean I owe 100 X 200,000 shares, or 20,000,000 Dinar does it? Or, do I just buy how many 100's I can?

Rico

I'm interested also. I'll counter the neg from haymon's accidental trigger finger.

[haymon]

Thank you for your help. You should see me at the range!!

[rico]

If I want to buy the ISX (Indexes)....it says the cost is 137.79. If I have to buy 200,000 shares of that, it would be over 26,000,000 Dinar. Of course I don't have that much in Warka....or does it mean if it's an Index that if I wanted to spend 1,000,000 Dinar, I'd divide 137.79 into 1,000,000 and buy that many shares (or over 7,000 shares)?

Please advise. I'd really like to purchase before the Dinar RVs.

Rico

[sourpuss]

my broker says I cannot use my warka account to get funds to him? any suggestions out there? it sounds like some people here are successful with using warka bank for ISX and some are not? can someone tell me whats going on?

[rico]

Sourpuss....my paperwork indicated that I could email Warka at this email: isx@warka-bank-iq.com I've emailed them twice but not heard back yet.

There is also a phone number to call Warka Bank -- maybe that's the only way we can get someone's attention. I will be using a Warka Bank broker to place my orders if anyone ever gets back to me.

Rico

[guster]

my broker says I cannot use my warka account to get funds to him? any suggestions out there? it sounds like some people here are successful with using warka bank for ISX and some are not? can someone tell me whats going on?

You can only use Warka with their broker.. I just sent my validated ISX docs to Warka through email and they will get me a broker number and then I can trade with Warka's broker using funds in my Warka account. I will also be able to monitor my trades online through Warka. They are the only ones right now that have this advantage. Hope this helps.

[rico]

Thanks, guster. I actually have dinar in USD and IQD Savings with Warka and they gave me a trading number. I'd rather purchase the ISX (the entire Index) rather than stocks. But you have to purchase 200,000 shares of individual stocks. If I can't figure out how to buy the ISX INDEX, I'll buy two stocks I'm looking at because I can figure out how much by taking the price times the 200,000. The INDEX says 137.79 -- if I buy 200,000 of that, it's over 27,000,000 DINAR !! So, my question is: Do you just buy "x" number of shares that you want (I want to spend 1,000,000 Dinar on the ISX INDEX)....but I certainly don't have 27,000,000

Thanks

Rico

[guster]

Sourpuss....my paperwork indicated that I could email Warka at this email: isx@warka-bank-iq.com I've emailed them twice but not heard back yet.

There is also a phone number to call Warka Bank -- maybe that's the only way we can get someone's attention. I will be using a Warka Bank broker to place my orders if anyone ever gets back to me.

Rico

Rico,

The other day I mailed my ISX forms to Warka. I mailed them first thing in the morning, east. time... I also copied Mr. Issa at: ifrd@warka-bank-iq.com along with the

isx address. The next day I received an email back verifiying receipt of my forms. I have never had any trouble with them getting back to me. I only send an email to them

when they are open, never on their weekends or off hours. If I don't hear back after a couple of days I resend the same email. I also copy Mr. Issa for everything. Also, and I don't know if it really matters, but I alway's use lots of please and thank you's.

Thanks, guster. I actually have dinar in USD and IQD Savings with Warka and they gave me a trading number. I'd rather purchase the ISX (the entire Index) rather than stocks. But you have to purchase 200,000 shares of individual stocks. If I can't figure out how to buy the ISX INDEX, I'll buy two stocks I'm looking at because I can figure out how much by taking the price times the 200,000. The INDEX says 137.79 -- if I buy 200,000 of that, it's over 27,000,000 DINAR !! So, my question is: Do you just buy "x" number of shares that you want (I want to spend 1,000,000 Dinar on the ISX INDEX)....but I certainly don't have 27,000,000

Thanks

Rico

Good question Rico, hopefully someone will answer. My plan right now when I get my broker number is to start with HSBC Iraq (Dar Es Salaam) since they are one of the banks that will be handling the IPO's for some of the telecom companies. Once the telecom companies start trading (I think I read next year) I then plan on going with them also.

[sourpuss]

Rico and Guster: Warka told me it would take 2 weeks to get my trading number and with another broker I was told I would have my trading number on Monday. I don't understand the big gap in why one broker quick and my warka bank so sloooowww.

Is Warka really a full fledged brokerage right now? Are they able to trade with ISX at this time? Al-Jazera says Warka not able to trade at this time. Is that true?

[guster]

Rico and Guster: Warka told me it would take 2 weeks to get my trading number and with another broker I was told I would have my trading number on Monday. I don't understand the big gap in why one broker quick and my warka bank so sloooowww.

Is Warka really a full fledged brokerage right now? Are they able to trade with ISX at this time? Al-Jazera says Warka not able to trade at this time. Is that true?

I thought that it takes 2 weeks to get your trading number no matter what broker you use. I think the confusion with Warka is that Warka bank is not actually listed on the ISX.

But they do have their own broker that they use for their customers.

[rico]

Wish someone would answer my ISX Indexes question. Guster--the symbol for HSBC is: BDSI (I originally thought I'd buy it using HSBC, but I don't think that's the case)....and I did know they'll be the bank for the IPOs. Don't mistake BDSI for IBSD (the pepsi bottling company).

Monday I think I'll just CALL IRAQ and find out if I don't hear from Adam or someone knowledgeable.

Rico (which means "rich" in Spanish....ha!)

[sourpuss]

guster: Al-Jazera says Ill have my trading number Monday, not 2 weeks like warka told me, and IN CASE this thing RV's by Thanksgiving I want my dadgum shares: I wish not to wait two weeks:) Al-Jazera communicates timely and promptly, unlike Warka

[rico]

I have my dadgum trading number.....just need a question answered before I jump in. I did read something about Warka having to "clean up its act" -- which I think they did? I hope so, I have Dinar there....

[DinarBot]

Maybe I don't fully understand how to buy stock on the ISX. I read all of Adam's information. I have a Warka account funded with "x" million Dinar in my IQD Savings. I have a trading number. I know I need to send an order to Warka, etc. I know you must buy a minimum of 200,000 shares of whatever stock you want.

My question is: Does that apply to buying one of the Indexes also? In other words, if I want to buy the "Banking Index" -- the close price was 100. So if I have to buy 200,000 shares, that couldn't mean I owe 100 X 200,000 shares, or 20,000,000 Dinar does it? Or, do I just buy how many 100's I can?

Rico

You may want to rethink "Indexes" . Most of DinarBot Team profits have been realized from "Free Capital Shares" not "Share Price Increases". DinarBot thinks you may forfeit that option when Indexing. DinarBot not 100% positive. Please ask Warka ISX Dept.and report back if possible. DinarBot no Indexing any time soon. Just a Dinarbot Heads Up

I have my dadgum trading number.....just need a question answered before I jump in. I did read something about Warka having to "clean up its act" -- which I think they did? I hope so, I have Dinar there....

Yes. Correct. CBI is preparing to Loan Warka 100 Million USD. Should be trading again shortly. You can still access your money etc. Just no Debit or CC feature. No can buy sell Warka stock.

Rico and Guster: Warka told me it would take 2 weeks to get my trading number and with another broker I was told I would have my trading number on Monday. I don't understand the big gap in why one broker quick and my warka bank so sloooowww.

Is Warka really a full fledged brokerage right now? Are they able to trade with ISX at this time? Al-Jazera says Warka not able to trade at this time. Is that true?

Warka Proper is not trading. It's brokerage is operational.

Edited October 28, 2011 by DinarBot

[rico]

Thank you very much, Dinarbot -- Monday I'll place orders for a couple specific stocks. Thanks for the tip on not buying Indexes. I knew we couldn't buy Warka Bank stock ... but understand they have their own broker who will place your trades, deducting from your Warka money on deposit there.

Let's hope for an RV before year's end....

Rico

[DinarBot]

Thank you very much, Dinarbot -- Monday I'll place orders for a couple specific stocks. Thanks for the tip on not buying Indexes. I knew we couldn't buy Warka Bank stock ... but understand they have their own broker who will place your trades, deducting from your Warka money on deposit there.

Let's hope for an RV before year's end....

Rico

Good Luck human known as "rico" . You will do well.

[TrinityeXchange]

I have my dadgum trading number.....just need a question answered before I jump in. I did read something about Warka having to "clean up its act" -- which I think they did? I hope so, I have Dinar there....

As usual my man Mr. Adbul-Kasim, CEO of AlJazera Brokerage came through with an answer. For you Rico. We were actually having email dialogue at 2am PST; try doing THAT with Warka LOL! Unfortunately my friend you cannot currently trade the Index on the ISX This is straight from the horses mouth. Please see below. I also confirmed this by a thread over at investors site.

broker: Could you please explain what you mean by investing in the ISX index ?

me: Certainly sir. Typically, on the stock markets in the United States, an investor can invest one of two ways.

1. Invest by purchasing the stock of a company. For instance Cisco is traded in the Nasdaq Index. The Nasdaq Index is generally where all of the High Tech companies trade.
2. Invest in the index itself instead of purchasing the stock of any one particular company. For instance if I wanted to purchase High Tech stocks but did not want to buy a stock of a particular company (like Cisco) then I could purchase the Nasdaq Index. The Nasdaq Index is a weighted composite of all companies that are a member to it.
   

give a good understanding of the Nasdaq Index and will probably do a better job than what I can explain. Perhaps the ISX does not currently have a fund established for this.

For example, if I wanted to invest in some of the banks in Iraq, I would typically buy stocks in a bank directly. I could have in my portfolio 300,000 shares of BBOB, 500,000 shares of BIME, and 250,000 shares of BUND. However if I believe that the entire banking sector will do quite well then I might purchase the banking sector index instead which is a weighted composite of all of the banks that are members of the banking sector index.

I hope this is understandable. Please let me know if I should explain further.

Thank you for your time Mr. Abdul-Karim

broker: Thank you for your explanation.We are afraid that no one can invest in the ISX index at present.Therefore, you can only invest by buying up to 10% of the total shares of any company on the ISX.

broker:

We should like to inform you that there will be no ISX tradingsessions from the 4th till the 12th of November,due to theEid Al-Adha holidays.

[rico]

Trinity Exchange...Thanks very much. I'm currently debating about placing an order Monday for 3 separate stocks on the ISX. Would love to buy 4, but alas, not enough funds....

Rico

Trinity Exchange...Thanks very much. I'm currently debating about placing an order Monday for 3 separate stocks on the ISX. Would love to buy 4, but alas, not enough funds....

Rico

[CarpeDiem]

Many Thanks TrinityeXchange. Totally appreciate all of your Commentary...

I was quite certain that was the case.. Based upon your dialogue

with Aljazera, it doesn't sound like we're anywhere close to seeing index funds available.... Oh well perhaps once we hit the Forex that could change.. In the mean time, I guess one could create one's own index by hand picking the largest 4 or 5 stocks in a sector & going that route.......

Ok one more question- So, what is the alleged problem(s) or issues with Warka & any type of regulatory or misappropriation(as someone posted) of funds.. As I inch ever closer to solving my wire transfer issues to warka, I'm now a slight bit skiddish about sending my $$$$... any insight? thanks

Carpediem