Update: Opening a Warka Account and Trading Stocks

[GottaDash]

Hi all. I'm going to be out a lot (job hunting. etc).

I wanted to give everyone a quick update on opening my account with Warka.

Most of the information that AAD was so kind as to post on the forum is still correct. The only change is that Warka now sends detailed directions on how to fund your account. I tried the forum way first and it didn't work. But, when I used the Warka directions, it worked fine.

As for stock trading - Warka instituted a new policy as of Oct 1st that all new accounts MUST go through the process for Non-Proxy trading. This means that I HAVE to first get all of my paperwork ok'd for non-proxy trading before I can make a trade. :lipssealed:

Just thought I pass this info along for anyone who cares.

-Dash:makeup:

[billh]

Does Warka still require you to wire your USD funds via Germany in order to fund your account ?

[skismenos_78]

Does Warka still require you to wire your USD funds via Germany in order to fund your account ?


No They don't require you to send via germany. I have sent all my via fedex. The recent one i sent out was last week got there perfect.

[billh]

Talking about wiring USD to Warka to be exchanged for dinar (not sending physical Dinar notes)

[SamsonGold]

Talking about wiring USD to Warka to be exchanged for dinar (not sending physical Dinar notes)

Wiring to their German account worked great in September. Should still be in play.

[Boasfin12]

Warka does'nt response well these days when ask to buy stocks on one behalf.From August 10, 2008 I have been able to get Warka to buy 3 out of 10 stocksI have asked them to purchase on my behalf. One have to keep at them to act. It has come to a point that I have to keep sending them the same order every week. I can not understand,

[GottaDash]

Okay, been out all day. Here are the answers to everything that I can answer.

* Yes, as of September, Warka requires USD (or whatever country you originate). You can double check, but as far as I can tell they will not take IQD via an out of country transfer.

* I don't know what the rules are for dormant accounts. If they were never funded, you need to get in touch with Mr. I and find out what the proceedures are and if there is anything new that you need to know about.

* Here is the information I received from Warka about funding the accounts. The mistake I made was that I put in the instructions to Dresdner Bank how I wanted the money split up (that's how I originally read AAD's post - but I may be reading it wrong). All they want you to do it is the following - don't elaborate or get fancy:

Below is the complete information you need to send your transfer successfully to Dresdner Bank (DRESDEFF)


Corresponding Bank: Dresdner Bank Address: Dresdner Bank AG Juergen-Ponto-Platz 1, D-60301 Frankfurt am Main

Dresdner Bank Swift Code: DRESDEFF

Beneficiary Bank: Warka Bank for Investment and Finance

Warka Bank for Investment and Finance swift code: WAIVIQBA

Warka Bank for Investment and Finance USD Account at Dresdner: 08-005-734-00-400

Beneficiary client: Your USD account number and Name at Warka Bank for Investment and Finance.

* When the money has left your bank and you are reasonably sure that the transfer has gone through (24-48 hrs), send off an email to Mr. I to make him aware that the money has been sent. This helps them keep any eye out for it.

* After the money is deposited into your account (USD), you will get an email confirmation. After the confirmation, you can email them back and ask them to convert everything but the minimum required to be kept in the USD account to IQD's. They will give you the total amount they convert and place into your IQD account (yes, you will have to seperate accounts).

* I have no idea what the process is for getting qualified for Non-Proxy trading, but I do know that I have to send the paperwork to the Iraqi Embassy in the US. I will be looking over AAD's post on that subject and starting that process asap.

Hope this makes things easier for everyone.

-Dash :sun:

[billh]

Thanks for your information. This is exactly the same procedure as in the past, so it appears "going international" did not allow us to wire USD directly to Warka.

[cowpoke]

I wired funds directly to Warka once.

[GottaDash]

Thanks for your information. This is exactly the same procedure as in the past, so it appears "going international" did not allow us to wire USD directly to Warka.


No, not from the information I was given.

-Dash

[wherbie]

the minimum stock share purchase has been raised ...to 100,000 shares..

i found out last month....

just so you know...
.

[SamsonGold]

When my money was posted to my Warka account, I didn't want to wait for them to transfer money to the IQD account, and found out it is quite easy to transfer between the US account and IQD account and back again myself. The options are right there for everyone.

[Seaview]

WOW! - Thanks SamsonGold. I had no idea you could do that. I just transferred some money over. I've been fannying around sending emails for the last few years! :doh: :wave: What a dummy :rolleyes: :blush:

[SamsonGold]

WOW! - Thanks SamsonGold. I had no idea you could do that. I just transferred some money over. I've been fannying around sending emails for the last few years! :doh: :wave: What a dummy :rolleyes: :blush:

I think they have been so overwhelmed that anything they can do to automate the process really benefits everyone. And now that millions know about the dinar opportunity, I can only imagine how hectic it will really get. Wow, what a ride this has been. :dance::music::ninja:

[War Eagle]

Has anybody else had trouble lately with Warka? I have been dealing with them since 06,and never had a problem until now.My next-to-last order got lost-sent to Mr.I.with cc to ISX.Last order was supposed to get executed on Oct.7-still no word.I know they are swamped (one reason to go to 100,000 shares per order),but this is rediculous.Any comments?

[BNZI]

Has anybody else had trouble lately with Warka? I have been dealing with them since 06,and never had a problem until now.My next-to-last order got lost-sent to Mr.I.with cc to ISX.Last order was supposed to get executed on Oct.7-still no word.I know they are swamped (one reason to go to 100,000 shares per order),but this is rediculous.Any comments?

I've had problems recently as well. No response to a few emails, a missing spread sheet when I asked for my complete portfolio followed by no reply when I pointed out the missing purchase. I have been considering selling everything and re buying in my own name through Karmel. I'm gonna wait for a bit and see how it goes. As you say, Warka have been great until now so I'm gonna give them the benifit of the doubt and see if they pull their :swear: together.

[SamsonGold]

Has anybody else had trouble lately with Warka? I have been dealing with them since 06,and never had a problem until now.My next-to-last order got lost-sent to Mr.I.with cc to ISX.Last order was supposed to get executed on Oct.7-still no word.I know they are swamped (one reason to go to 100,000 shares per order),but this is rediculous.Any comments?

Exactly the same for me. And I'm just going to let it slide. At least until things settle down a bit.

[War Eagle]

I emailed Mr. I about the poor service from Warka lately,and asked for an explanation.I told him several members on the IIF were concerned about this.He promptly replied that Warka has 50,000 customers,of which 3,000 are ISX investors,and that this was a result of Warka's fine service.I emailed him back,saying he did NOT answer my question as to why service lately has not been up to Warka's fine standards,and was he telling me that we should take our business elsewhere.I will advise everyone of his answer,however I got the impression that Warka could care less about our business.So,I just might be giving my business to Karmal.

[billh]

Thanks for your information. This is exactly the same procedure as in the past, so it appears "going international" did not allow us to wire USD directly to Warka.

I received an email response from Mr. I today and he verified that all USD wired funds to Warka from the USA still must go through Dredsner Bank in Germany. Going "international" did NOT allow us to wire USD direct to Warka.

Dear Mr. XXXXXXXX,

You still need to wire funds through our corresponding bank and below are the details:

Corresponding Bank: Dresdner Bank Address: Dresdner Bank AG Juergen-Ponto-Platz 1, D-60301 Frankfurt am Main

Dresdner Bank Swift Code: DRESDEFF

Beneficiary Bank: Warka Bank for Investment and Finance

Warka Bank for Investment and Finance swift code: WAIVIQBA

Warka Bank for Investment and Finance USD Account at Dresdner: 08-005-734-00-400

Beneficiary client: Your USD account number and Name at Warka Bank for Investment and Finance.







This e-mail is confidential and the information contained in it may be privileged. It should not be read, copied or used by anyone other than the intended recipient. If you have received it in error, please contact the sender immediately by return email, and delete the e-mail and do not disclose its contents to any person.

[james 394]

Warka does'nt response well these days when ask to buy stocks on one behalf.From August 10, 2008 I have been able to get Warka to buy 3 out of 10 stocksI have asked them to purchase on my behalf. One have to keep at them to act. It has come to a point that I have to keep sending them the same order every week. I can not understand,

As some comps are there one day and gone the next, try this
Send in the same pic list x 3, and date them on the top for the dates to use them, ie, one for Sunday the next for Tuesday and then Thursday, this way you should get the comps you are after, as sending in one a week its a bit like a drive by shooting, sometimes you get it most of the times you don't, J.