I'm going to buy some stocks. Who's had the best luck with buying AND SELLING on here, and with what companies?

[iraq4tw]

My money is with Warka, and I'm planning on submitting my buy requests that way. I assume I'll also submit sell tickets through them also, and then hope they send me my money if I want it. Is that the way it works?

I've heard some horror stories about people not receiving stock certificates etc... I know this isn't foolproof, but can someone guide me here?! I'd like at least a LITTLE peace of mind!

Thanks!

[diamondback]

ISX website has a document of what a buy or sell order should have. It should also include when to execute, order good till such a date, limit price, shares and company name. The document has some boiler plate language including your name account #, give broker the permission to act on your behalf, including the commission earned.

The order that will most likely be filled first are of widely traded companies. Expect the buy order to be filled on the highside.

Stock picks are your guess. Go with diversity.

Jim Cramer's book Real Money is a great resource for knowledge.

At this stage of the game, you should be able to own the stocks in your good name, however paper certificates are not needed since it is transitioning to e-trading.

Once the order is filled you be emailed an excel file that reflects your ownership.

I'm up 48% for the time in, the free shares have helped.

Expect order fullfillments up to several weeks, in other words up to 3 to 8 trading sessions depending on the order size.

Good Luck.

[24mm exposed grid]

If you do not already own stock, which I assume you dont, you will not be able to purchase stock through the Warka proxy company.

All new investors have to go through the ISX registration process via the Iraqi Embassy / Consulate in your own country.

Also, purely in my experience, confirmation times from Warka are not quite as long as diamondback indicates. The most I have ever waited for confirmation is less than two weeks. Confirmation times of all trades in the past few months have improved to within 1-3 working days.

Once shares are sold you are free to transfer your funds whenever you like via the e-banking system (A must have in my opinion). This service is first class and as good as the e-banking service I have on my own UK bank account.

Best Of Luck

[iraq4tw]

@diamondback - thanks for the explanation.
-Does Jim Cramer's book cover Iraq?
- What are these "free shares" you speak of?

@24mm - Thanks for the info. I am currently going through the process of registering through the ISX, I just received my Iraqi Embassy stamped papers and sent them to Warka for processing. That's why I'm cramming information now.

I also have the e-banking system, which seems pretty cool. I like being able to logon and see my IQD/USD balance right there. When you say "transfer funds", what does that mean? Do you know the process for actually getting "cash in hand" out of your Warka account?

[24mm exposed grid]

By transfer of funds I mean, converting your Iraqi Dinar into US$, by doing an internal transfer at Warka (from your Warka IQD account to your Warka USD account) and then transferring the resultant US$ back home by the SWIFT banking system to your own bank account in the US or wherever.

This is all easily done via the online banking facility. Online transfer of funds back to here in the UK takes 3 days absolute most, usually 2.

[iraq4tw]

The SWIFT banking system is part of my online Warka service?

[24mm exposed grid]

Yes, I believe I am correct in stating Warka does now use the SWIFT system to transfer funds internationally. Certainly you initiate the transfer online at Warka and they handle it for you, (via SWIFT - presumably)

[sunrock]

My money is with Warka, and I'm planning on submitting my buy requests that way. I assume I'll also submit sell tickets through them also, and then hope they send me my money if I want it. Is that the way it works?

I've heard some horror stories about people not receiving stock certificates etc... I know this isn't foolproof, but can someone guide me here?! I'd like at least a LITTLE peace of mind!

Thanks!

Saw a post by Mr I saying they would not be doing any more ISX trading for 6 to 8 wks. They have some
policy work to do or something like that.

I was going tobuy also just got my pass port.

PS said they would post on their site when they were ready.

I should have done it all ready like smart ones here.

2 out of 3 i guess not to bad but would like to be batting

000.

[iraq4tw]

Saw a post by Mr I saying they would not be doing any more ISX trading for 6 to 8 wks. They have some
policy work to do or something like that.
.

Can anyone confirm this? I was just emailing with Mr. I of Warka Bank and he helped me through the process to trade on the ISX via Warka, but didn't mention any hold on trading....

[BNZI]

Saw a post by Mr I saying they would not be doing any more ISX trading for 6 to 8 wks. They have some
policy work to do or something like that.

I was going tobuy also just got my pass port.

PS said they would post on their site when they were ready.

I should have done it all ready like smart ones here.

2 out of 3 i guess not to bad but would like to be batting

000.

Email I received this morning after sending a request in yesterday after working hours.

Dear Mr. BNZI,

Thank you for providing with your new stock order which will be executed as this Thursday's trading session dated 30th of April 2009 and the purchase details will be provided once we complete our standard working procedures.

Best regards,

ISX Department
Warka Bank for Investment and Finance

[Seaview]

Saw a post by Mr I saying they would not be doing any more ISX trading for 6 to 8 wks. They have some
policy work to do or something like that.
I would think he is referring to 'Warka Bank' specifically not trading on the ISX, they are still out for there AGM. Not that the Warka Bank will not make buy and sell trades for stocks trading on the ISX on your behalf as your Broker.

[iraq4tw]

Email I received this morning after sending a request in yesterday after working hours.

Dear Mr. BNZI,

Thank you for providing with your new stock order which will be executed as this Thursday's trading session dated 30th of April 2009 and the purchase details will be provided once we complete our standard working procedures.

Best regards,

ISX Department
Warka Bank for Investment and Finance

I'll take that as confirmation there is no hold on trading through Warka. Thanks :yes:

[diamondback]

Cramer's book covers the common sense of invensting.

Free shares are just that free, like a dividend.

[iraq4tw]

Cool. I like free stuff :D