Your Broker and ISX Experience

[haymon]

When I last sent my buy order there was no minimum amount of shares. I did 25,000 on one stock, 75,000 on another and 150,000.

As far as trading numbers, I have one with each. Have not bought with Warka yet. Was testing the waters with Aljazeraco.

[Scott McD]

..

[Scott McD]

Hasan sent through my ISX Trading account number, buy / sell forms, wire transfer instructions, ISX rules and a copy of my account balance last night.

All going very well so far.

S

[Joker017]

So just wondering how many companies were trading today? I think I heard that there were only 7 companies trading yesterday, so just wondering!

[Scott McD]

Joker017 - This is a great page for checking Company trades etc.

http://72.52.252.89/isxportal/portal/uploadedFilesList.html?currLanguage=en

Cheers,

S

[Joker017]

Joker017 - This is a great page for checking Company trades etc.

http://72.52.252.89/isxportal/portal/uploadedFilesList.html?currLanguage=en

Cheers,

S

Thanks Scott McD, Much Appreciated!

[Dinar_o'saurs]

I read awhile back that Aljazeraco was to put up a web-site to where you could view & access your account. Has the site gone up yet? Is there any info regarding any web related access?

Thanks anyone/everyone.

[sugga10]

sorry to sound so uneducated in this process, but I am. How do you select the stock you want to invested in. DO i have to open up a new account with this other bank to fund my purchases.

[Scott McD]

Hi sugga10,

I am new to this as well and only at the early stages of getting the necessary set-up.

My understanding is that there are several ways to do this. You can setup a Warka account and purchase ISX through them or, choose a broker (in my case Aljazera) and buy through them.

Both cases you have to wire US to fund the purchases.

I have now set up accounts with Warka and Aljazera to cover my bases.

The plus points for me with Aljazera so far have been their speed of response, little or no setup cost and ultimately there is no minimum purchase (unlike Warka).

I am waiting for my wire transfer to hit the Aljazera account (hopefully today or tomorrow) then I will action a buy order.

As I say, its all new to me and I am still feeling my way around.

Cheers,

S

[pluMmet]

Once you wired Aljazera, how long until you got an email that they received your funds?

[matthew6:19-21]

Once you wired Aljazera, how long until you got an email that they received your funds?

About 6 days for me.

[Dinar_o'saurs]

I read awhile back that Aljazeraco was to put up a web-site to where you could view & access your account. Has the site gone up yet? Is there any info regarding any web related access?

Thanks anyone/everyone.

Bump

[gramms9]

Hi guys and gals, I need your help. I know nothing about investing but would like to.

RE: Aljazera Brokerage Company, is there a webpage? If not how do you do business with them? How do you know what to buy into? I'm in Warka but not operational yet. My money is just sitting there. How can find out more about Aljazera and my options?

Thanks again for all your help.

[matthew6:19-21]

Bump

[/

I will email Hasan at Aljazera and post what he says.

[Scott McD]

6 days for my wire to get there.

Interesting note: Aljazera exchange rate for this wire was 1222 to the US$.

Now to select some stock??? Banks sound like a good starting point.

Cheers,

S

[TrinityeXchange]

Interesting note: Aljazera exchange rate for this wire was 1222 to the US$.

After I saw the exchange rate I was getting to my dollar sending to the ISX, I swore I wouldn't put another order in to the online currency dealers.

[matthew6:19-21]

Hi guys and gals, I need your help. I know nothing about investing but would like to.

RE: Aljazera Brokerage Company, is there a webpage? If not how do you do business with them? How do you know what to buy into? I'm in Warka but not operational yet. My money is just sitting there. How can find out more about Aljazera and my options?

Thanks again for all your help.

Just heard from Aljazera yesterday and they are still working on their website. Same response I got about a month ago. We will just have to give them a little time Iraq is slowly coming together.

After I saw the exchange rate I was getting to my dollar sending to the ISX, I swore I wouldn't put another order in to the online currency dealers.

Great to see you Trinity I appreciate your posts.

Edited February 10, 2012 by matthew6:19-21

[Scott McD]

After I saw the exchange rate I was getting to my dollar sending to the ISX, I swore I wouldn't put another order in to the online currency dealers.

My thoughts exactly Trinity! :-) Happy days!

[easeandpeace]

Trinity,

I am confused what your statement above means about the exchange rate. Are you referring to the 1222 rate of dinar to USD? Please clarify this for me as I am not understanding your statement about the currency traders. Also, could you please post here again the exact contact at Aljeerza brokerage as I want to move forward on sending the required documents and start trading this week. Thanks again for all your information. You are my inspiration to keep going and learning! I am seriously tired in the best way from all the ways I have taken advice in investing and now the final hurdle is to become knowledgeable about the ISX and get on the blessed thing!!

[pluMmet]

Trinity,

I am confused what your statement above means about the exchange rate. Are you referring to the 1222 rate of dinar to USD? Please clarify this for me as I am not understanding your statement about the currency traders. Also, could you please post here again the exact contact at Aljeerza brokerage as I want to move forward on sending the required documents and start trading this week. Thanks again for all your information. You are my inspiration to keep going and learning! I am seriously tired in the best way from all the ways I have taken advice in investing and now the final hurdle is to become knowledgeable about the ISX and get on the blessed thing!!

For every 1 USD he got 1222 IQD....

[Scott McD]

Trinity,

I am confused what your statement above means about the exchange rate. Are you referring to the 1222 rate of dinar to USD? Please clarify this for me as I am not understanding your statement about the currency traders. Also, could you please post here again the exact contact at Aljeerza brokerage as I want to move forward on sending the required documents and start trading this week. Thanks again for all your information. You are my inspiration to keep going and learning! I am seriously tired in the best way from all the ways I have taken advice in investing and now the final hurdle is to become knowledgeable about the ISX and get on the blessed thing!!

Hi easeandpeace,

I can’t answer for Trinity, but the point I was making, was when you wire money to your Warka or ISX Broker account you get a much better US$ to Dinar exchange rate. In my case last week I got 1222 to the 1US$.

To fund your account with one million Dinar (electronic) would cost you circa $820 US plus wire costs. One million Dinar (physical notes) would cost circa $1,200 US plus postage from an average online Dinar supplier. Perhaps slightly cheaper if you buy the larger notes. This was my first wire transfer and I was pleasantly surprised by the exchange rate!! :-)

I email Mr Hasan A.L.Abdul-Karim on aljazeraco@gmail.com. He has been very helpful.

All the best,

S

[TrinityeXchange]

Great to see you Trinity I appreciate your posts.

Thank you my friend. I've not gone anywhere. I just toned down my posting in the ISX section to let things die down for a while. It was not my intent to cause all the stir. Peace is always the preferred path. Thanks for the kind words.

To fund your account with one million Dinar (electronic) would cost you circa $820 US plus wire costs. One million Dinar (physical notes) would cost circa $1,200 US plus postage from an average online Dinar supplier. Perhaps slightly cheaper if you buy the larger notes. This was my first wire transfer and I was pleasantly surprised by the exchange rate!! :-)

You put it perfectly! I gain approximately 1.4x more dinar for my dollar when I purchase through the ISX than from an online dealer. That figure is with wire funds included. It takes approx $1240 usd to purchase $1M dinars in cash. It takes approx $900 usd ($820 + $80 wire fee) to purchase $1M dinars from the Investment Bank for stock purchases.

So $1240 / $900 = 1.3777 or 1.4. That is a significant mark up by the online dealers at something like 40% increase ($900 + 40% = $1260). In addition when you purchase hard currency, that money sits in a safe somewhere doing no work at all. When you purchase on the ISX (although riskier), you stand to gain from bonus shares offered as well as the stock increasing in value.

In my estimation, there is no comparison. ISX ALL THE WAY

[TrinityeXchange]

Also you might want to check out this thread. There is a lot of good information in it. I did make a honest mistake in it though in not completely understanding the kuwait stock exchange stock pricing at the time. All in all though there is still lots of potential for profit.

Be blessed my friend.

[Scott McD]

Also you might want to check out this thread. There is a lot of good information in it. I did make a honest mistake in it though in not completely understanding the kuwait stock exchange stock pricing at the time. All in all though there is still lots of potential for profit.

Be blessed my friend.

Thanks for the link Trinity....interesting reading.

I am really excited about the ISX. Apart from the exchange rate (which is great) you actually own a share in the company, so like you say the ISX is risky, but, and it's a big but！if all this pans out they way we hope we could be realizing huge profits. But trying to stay grounded! :-)

I think I have enough physical dinar for now so am going to balance out my investment with ISX shares.

All the best,

S

[pluMmet]

I also got the 1222 rate and it took 6 days for the wire to clear. Thanks guys for the heads up