Iraq and Interactive Brokers

Quote from Tums:

Either YOU or IB is a loser.
There is no doubt about it.

I'm a loser because I lost the account potential with the cheap and clean IB, and now I have to have several separate accounts for the FX and futures trades.

IB lost tens of thousands in commissions from a customer.

We'll both survive, me with a little less money (extra charges), and they with a little less money (one lemming customer out).
 
Quote from Tums:

Drinking after midnight equates to drunk?
I hope you have better correlation in market analysis.

So in other words, you would rather see someone drinking after midnight than a nice pair of boobs.
 
It's well documented on Elite Trader that IB sucks like this. It's not you and it's not even really where you're from. Iraq is just one way to trigger it. They like to follow rules very strictly. When I opened up my account with IB four years ago, I was rejected and only managed to open up the account with persistance (the fees were worth it to me). My problem was they didn't like my paperwork. Apparently, they don't consider a month to month lease sufficient to prove my address and I didn't and couldn't possess anything else on their list of acceptable documents. It took me about five emails to get IB to finally say ok to me after providing them with account statements from another broker plus a voter registration confirmation to my address.
 
This sounds tough.

Quote from hayder:

Dear All

This is a message of warning to other posters from the Middle East (and possibly other regions) regarding the account opening procedures and attitude by IB.

I'm a British citizen of Iraqi origin (left in 1981).

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
 
Port1385 you asshole, why are you reposting this?

I know why, because you're an

asshole.gif
 
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