Iraq and Interactive Brokers

[Gringinho]

That's pretty stupid to answer someone you are going to have a trusting business relationship with in such an aggressive manner. No wonder they would prefer not doing business with you.

IB already has some vetting for avoiding complete newbies that would swamp their support system and give them heaps of trouble learning the ropes. That's sound business practice right there. Avoiding doing business with someone who acts in a complete irrational and obnoxious way is another sound business practice.

Good job, IB! Them avoiding the freaks make me even more confident I have chosen a really good broker that will stay around ...

 

[KeithOmalley]

Quote from Cutten:

A brokerage account with a third-party is not an "economic freedom". It is a business service which is provided at the discretion of the provider. You have no right to it whatsoever, any more than they have the right to have you as a customer. In both cases, it is the *free choice* of both party to provide, or not provide, the service & custom in question.

Kind of sounds like the South in the 50's. You have your own water fountians, you ave your own schools, you have your own entrance in our restruants. so you have your own choices, if you dont like it too bad. your diffret thenus but equal

 

[KeithOmalley]

I can understand how these questions can feel intrusive since answering yes to all these questions should not stop you from opening an account. at the worse it should subject you to follow up questions. its an annoyance and they are just doing there job. its like asking you the dumb questions at the airport. "have you packed your own bags" did anyone give you anything to bring with you" ect ect. any good terrorist can breeze past these questions


yes i hold an Iraqi passport.
yes i have Iraqi citizenship
yes i have business dealings in iraq.
yes i have accounts in iraq (come on many people on this board speculate on iraqi money
yes one day i would like to settle back in iraq.

.

Quote from hayder:



I live in Dubai and tried opening an account with IB (due to the commissions and variety of securities on offer).

I sent them all the required documentation including:
My british passport
UAE driving licence
My Bank details
Apartment lease agreement.

They came back and asked me the following questions (which I answered):


In reviewing your account application and documents we have noticed that the place of birth on your passport indicates Baghdad. Due to this, there are some additional questions we will need before we can continue processing your account application.


Please review and provide responses to the below questions:


1) Do you currently hold a passport from Iraq?
NONE OF YOUR BUSINESS. I APPLIED WITH MY BRITISH PASSPORT.

2) Do you hold Iraq citizenship?
NONE OF YOUR BUSINESS. YOU KNOW I’M A BRITISH CITIZEN. YOU NEED TO KNOW WHERE MY GREAT GRANDMOTHER WAS BORN TOO???

3) Do you have business dealings in Iraq?
NONE OF YOUR BUSINESS

4) Do you hold any financial accounts in Iraq?
NONE OF YOUR BUSINESS

5) Do you have plans ever to back/settle in Iraq?
IF AND WHEN I PLAN TO MOVE ANYWHERE I WILL INFORM MY BROKER AND BANK IN GOOD TIME. I’M LIVING IN DUBAI NOW. YOU HAVE NO RIGHT TO ASK ME WHAT MY LIFE PLANS ARE AND WHAT UNDERWEAR I PLAN TO WEAR TOMORROW.


Please review and provide responses to these questions and we will review and finish processing your account application for final review and approval. .

Regards,


Michael

New Accounts Department
Interactive Brokers, LLC-US

 

[sim03]

Quote from eagle:

Or BE COOPERATIVE AT INTERACTIVE BROKERS

It reminds me a story about one girl who was just coming from Japan to USA. Then one day, she went to the bar alone and she asked for a beer, the seller requested her to give her ID card. She then gave him her passport. The guy looked at her passport and returned to her saying "sorry we don't serve beer to you". Angry, she returned home. Later, she complained to a guy, a US citizen, and told him her story at the bar, that here in US they're racist refusing to sell beer to an immigrant. The guy replied to him "it wasn't the subject of racism it's because you're 17 years old and in USA under 18 years won't be allowed to drink alcohol.

You are not from the US, are you... as any perennially wasted college kid will tell you, the minimum age in the land of the free to buy or be served alcohol is 21, not 18.

We now return to our regularly scheduled random IB rant of the day.

 

[newtoet]

Quote from sim03:

the minimum age in the land of the free to buy or be served alcohol is 21, not 18.

Not necessarily before '84 (that was when Regan signed the National Minimum Drinking Age Act). So depending on when the poster's story took place, 18 is entirely feasible.

 

[FortuneTeller]

Quote from newtoet:

Not necessarily before '84 (that was when Regan signed the National Minimum Drinking Age Act). So depending on when the poster's story took place, 18 is entirely feasible.

I would like to know which state allowed anyone to drink before the age of 21 before the year of 1984. I don't know of any.

 

[El OchoCinco]

Quote from FortuneTeller:

I would like to know which state allowed anyone to drink before the age of 21 before the year of 1984. I don't know of any.

Iin New Orleans as late as 1995 or so the drinking age was 18 though I am not sure when they first started that. The Federal Government does not set the drinking age. It is a State Law issue however the Federal Gov't tied highway funds to states who adopted the 21 year old drinking minimum age so all states complied accept Lousiana for quote some time. when I was in New Orleans, the State finally accepted the 21 year old age limit to get highway finding finally. So actually as recent as 13 years ago the drinking age was 18 in New Orleans and in other parts of the State.

However the issue has gotton murky with different court cases.

"Prior to a 1984 Federal law linking highway funding to the 21 year drinking age (later upheld by a 1987 Supreme Court ruling) each state set it's own drinking age."

"But then last week [1996], the Louisiana Supreme Court ruled that the state's drinking age of 21 is a form of age discrimination, and tossed out the 1995 law as well as the 1986 law that barred those under 21 from buying alcohol. Louisiana has become the only state in the nation with a drinking age of 18."

 

[Landis82]

Quote from eagle:

Or BE COOPERATIVE AT INTERACTIVE BROKERS

It reminds me a story about one girl who was just coming from Japan to USA. Then one day, she went to the bar alone and she asked for a beer, the seller requested her to give her ID card. She then gave him her passport. The guy looked at her passport and returned to her saying "sorry we don't serve beer to you". Angry, she returned home. Later, she complained to a guy, a US citizen, and told him her story at the bar, that here in US they're racist refusing to sell beer to an immigrant. The guy replied to him "it wasn't the subject of racism it's because you're 17 years old and in USA under 18 years won't be allowed to drink alcohol.

A. The Drinking Age has not been under 21 in many years.

B. A U.S. passport is not accepted by bartenders because the Alcoholic Beverage Commission (ABC) doesn't accept such a document as proof of one's age. It's a State issue.

 

[Landis82]

Quote from newtoet:

Not necessarily before '84 (that was when Regan signed the National Minimum Drinking Age Act). So depending on when the poster's story took place, 18 is entirely feasible.

It's REAGAN.
Not Regan.

 

[Jayford]

Quote from FortuneTeller:

I would like to know which state allowed anyone to drink before the age of 21 before the year of 1984. I don't know of any.

Hawaii and Colorado for two examples. i drank in both soon after turning 18 in 1980. There were others as well, about ten in all i believe.

there is no minimum drinking age in Wisconsin to this day from what a friend from there tells me. You have to be accompanied by a parent to the bar though. She says her dad would take her brother to bars after hunting trips starting at 12 yrs old!

And they wonder why they have a drinking problem ther.