Iraq and Interactive Brokers

So fast to cry racism, when asked a few questions. You'd go far in America, you may even have a place here in politics, then you wouldn't even need an account at Interactive brokers . . .
 
Look IB isn't perfect nor are they a saint but in this case it looks to me like they are just following procedure and covering their ass.

That doesn't mean that they are saying anything about you, it just means that given the present world situation (which does suck) this is a reality of compliance.
 
Quote from hayder:

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
More...
Those questions aren't racist, nor do they bespeak of racism torwards you or anyone else. However your responses are pretty immature, and if I were them I probably wouldn't want to open an account on your behalf based on them.

They are normal compliance questions which every banking institution has to ask when receiving funds from questionable third world parties.

Your should have the moderators rename your thread to:

COMPLIANCE AT INTERACTIVE BROKERS

Make your point (if you think you have one), and then move on ... (like I'm doing from this thread).
 
Or BE COOPERATIVE AT INTERACTIVE BROKERS :D

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.

Quote from MandelbrotSet:

COMPLIANCE AT INTERACTIVE BROKERS
More...
 
Quote from zdreg:

do not be so rough on this man. being born in baghdad is not a sin. for all you know he could be a persecuted kurd or christen from iraq. even being a moslem is not an excuse for this treatment.
the questions are intrusive and the answers will reveal nothing of value.
More...

Dude, anyone unwilling to answer those questions should be denied entrance into the country, no less a trading account.

Get real.

pic.php
 
If I was IB, I wouldn't open an account with this guy. He seems a little on the rude side. Plus, from the looks of it, he is a risk to run back into a war zone if he loses more $$$ than he puts in his account with IB. Especially since he didn't want to respond to the passport question. Too bad for him.
 
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
More...

While I would tend to agree with you on most matters I suspect all they are doing is trying to cover their own ass when Big Brother comes snooping.
 
Quote from stock777:

Dude, anyone unwilling to answer those questions should be denied entrance into the country, no less a trading account.

Get real.

.info/pic.php?f=zarqawi_bush.jpg[/img]
More...

I'd agree with not allowing him into the country, but I dont really see how a carefully monitored trading account would cause any problems.
 
You must log in or register to reply here.
Back
Top