Shafaq News/ The Iraq Stock Exchange (ISX) traded equities valued at more than six billion dinars last week.
A report of the market obtained by Shafaq News agency said, "more than nine billion equities were traded in the past week at a value of nine billion dinars via 3,839 transactions."
"ISX-60 index closed at 767.97, 5.81% above the opening session's 723.32," the report said.
It is noteworthy that Iraq Stock Exchange installed Central Depository and Electronic Trading Systems in 2009. It organizes five weekly sessions and lists 103 public companies from different economic sectors.
US Dollar Loses Ground Against Iraqi Dinar in Baghdad and Erbil Markets
Shafaq News/ The US dollar declined in its exchange rates against the Iraqi dinar on Thursday, marking a noticeable drop in Baghdad and Erbil markets.
According to a report by Shafaq News agency, the two central stock exchanges, Al-Kifah and Al-Harithiya, in Baghdad, registered a morning exchange rate of 152,000 Iraqi dinars for every 100 US dollars. This represents a reduction from the previous day's rates, as Wednesday's figures had reached 153,100 dinars per 100 dollars.
Meanwhile, the exchange shops in the local markets of Baghdad also witnessed a downward trend in dollar prices. The selling price in these markets reached 153,000 dinars for every 100 dollars, while the purchase price was recorded at 151,000 dinars for the same amount.
In Erbil, the capital of the Kurdistan Region, the local stock market reported decreased rates. The selling price for the US dollar in Erbil reached 152,200 dinars per 100 dollars, with the purchase price at 152,100 dinars for the same quantity.
The Invezz team of expert traders, data analysts, and financial writers frequently test the best trading platforms. Amongst a range of features, we ranked the top brokers in Iraq according to their affordability, security, and available international markets.
In this article, we answer the question: what are the best online brokers in Iraq for Iraqi users?
What is the best stock trading app in Iraq?
Our rankings reveal that the best online broker in Iraq is Skilling.
Having assessed 100+ brokers, this list represents the three services that top our rankings as the overall best online trading platforms in Iraq.
What products can I trade with a Iraqi stock broker?
You can trade stocks from Iraq, or invest in leading companies from around the world. Here’s a breakdown of what (and how) you can trade with the best online brokers Iraq.
Stocks
Iraqi stocks. One option is to simply buy and sell stocks that are listed in Iraq. This is normally the most straightforward option for Iraqi residents, as you can buy shares in any company that’s listed on a Iraqi stock exchange.
US stocks. Some of the best known companies in the world are listed in the United States. The best online broker in Iraq will also let you invest in stocks that are listed on the NYSE or the NASDAQ exchange in the US, but it depends on the legal restrictions in Iraq.
International stocks. You may also be able to buy shares in companies that are based in the rest of the world. The best international brokers in Iraq offer global stocks, but it may be a limited selection. If you want to buy equities from outside Iraq or the US, be sure to check those stocks are available through your online broker before you sign up.
ETFs
ETFs (exchange traded funds) are investment funds that pool money together from lots of different investors and use it to track a particular index, like the S&P 500. Even if you can’t invest in every stock from every country, you can usually find an alternative in an ETF that tracks the performance of Iraq’s top stock exchanges and indexes.
Mutual funds
Mutual funds are professionally managed investments. You buy shares in the fund through an investment platform and the manager decides what to invest it in.
Mutual funds and ETFs are similar, but the former are managed by a professional who tries to beat the market, while the latter buy and sell stocks automatically based on a set of fixed criteria. The best stock broker in Iraq allows you to invest in stocks from Iraq, as well as ETFs and mutual funds.
Futures and options
Futures and options contracts involve making an agreement to purchase a stock in the future at an agreed price. They’re favoured by stock traders and can be used as a way of speculating on how you think a company’s price might change in the future.
How much does it cost to use the best online brokers in Iraq?
It is normally free to sign up to a stock trading platform in Iraq. The main cost comes in the form of trading fees, which depend on the platform and on what you want to trade. Some of the best stock trading apps in Iraq offer completely free trading, while others charge a flat fee or commission per trade.
Are stock brokers in Iraq regulated?
Yes, online brokers have to be regulated in order to offer share dealing services. Ideally, you want to find a broker that offers top-tier regulatory protection either through your local regulator, or through an internationally recognised institution.
The best brokers in Iraq are regulated internationally through institutions such as CySEC (Cyprus Securities and Exchange Commission).
How to buy stocks in Iraq
Every stock trading app in Iraq is designed to help you invest with the minimum of fuss.
Follow this six step guide to learn how to buy shares online in Iraq for the first time.
Once you’ve chosen the best broker Iraq, set up an account by supplying your email address and password. Fill in personal details like your name and address.
3. Verify the broker account
Before you use an online trading platform in Iraq you need to verify your identity. Upload a copy of your driving licence or passport to do this. The verification process can take up to 24 hours, but is often much quicker than that.
4. Deposit money into your trading account
You can make your initial deposit via a card payment, bank transfer, or an alternative payment method. Many of the best online brokers in Iraq accept PayPal and similar e-wallets, but you should check this ahead of time.
5. Search for a stock and place your trade
Find the stocks you want to trade using their ticker symbol. Enter the details of your trade, and hit ‘buy’ to execute it.
6. Monitor your investment
Check up on your investment regularly. Use the latest news and stock market research to help you decide when to sell your shares, and lock in a profit or loss.
PDK Note: I will only transcribe RV Related or Intel with Financial relevance. If any certain podcast is mainly about politics and social opinions or any political –type picture posted on Marks videos I will not do any notes. So if there are no notes transcribed…there usually was little to no RV news at all included in that particular podcast. Thanks for understanding.
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: good morning everybody Mark, mods and fellow millionaires
Member: gm all! oh please let mark have some news for us. I am so weary today.
Member: Iraq put out the budget instructions - now the ministers are reviewing the instructions - and next- RV????
MZ: News is still quiet. Even things specific from Iraq has been quiet for me. Bond folks are still being asked not to leave. One of my contacts wanted to leave today and they were told –no….stay…..so I am hopeful they will get paid soon.
Member: We sure hope that they get paid today!!
Member: bondholders running up huge lodging bills. Good thing they have deep pockets!
MZ: So far no changes in rates…no movement with Mr.C. Just quiet
MZ: on the BRICS front “South Africa’s BRICS summit extends invitations to 67 nations, sidelines France” France had requested a seat at the table….and they said no. Could be because of their dealing in Africa and Niger….worried it would cause an international incident possibly. Just a guess.
MZ: But “67 nations!” So far 34 delegates have confirmed attendance. I am hoping they will post a list .
MZ: “US neighbor opts against BRICS” Mexico is passing on joining BRICS for now. They said they need to improve relations with the US and other neighbors in the Americasbecause of where they are at geo-politically.
Member: Rod Steele on Dr Kia Pruitt rumble channel, told her that US intends to announce gold backed currency PRIOR to BRICS announcement of same Aug 22
Member: fingers, toes and eyes are crossed……Come on USN’s
Member: MarkZ: Rumor control is "10 Days of Darkness" is referring to Social Media.
MZ: Yes- I was told there would only be outages for perhaps a few hours in certain areas…depending on cleanups…but there would not be widespread or long lasting. Maybe a temporary takeover of media to get disclosure out….
Member: “Tranquility comes when you stop caring what they say. Freedom comes when you stop caring what they think." Marcus Aurelius
Member: Can you ask some of your contacts to come on the stream?
MZ: I have asked….They are afraid if they do- they would lose the ability to exchange…..so they won’t…can you blame them??? I sure don’t.
Member: Question: will they still come to if you can’t go to them. I’m not driving for at least a month
Member: Mark said they would….but that was a few months ago….hope it’s still true
Member: Mark, will you be posting the 800# to set appointments when they are sent out??
Member: He always said he will share everything he is allowed to….as will Recaps, Chronicles, Frank, TNT , Bruce and others…I think the information will be all over Dinarland.
Member: Ready, willing and waiting for these final days.
Member: Cannot believe this is taking so long to roll out
Member: It took decades to get this mess where we are. The people need to be patient with the fix to come together. We've waited a long time to get where we are. Buckle up, the fix is close.
Member: I think we are at the precipice now. many are getting so tired and desperate. we need to stay strong. many will need us
Member: Please pray for those in Lahaina in Maui . Fires have destroyed is all…..36 deaths so far….
MZ: please remember that Santa Surfing lives in the fire zone in Hawaii. Please keep her in your prayers right now.
Member: Heart Broken about Hawaii.
Member: The best is yet to come……Please God help all who need it today.
Bob Lock joins the stream today. Please listen to the replay for his opinions and information on trusts.
THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARKZ ’S OPINION ONLY.
A cash cow is a company or a business unit in a mature, slow-growth industry. Cash cows have a large share of the market and require little investment. These companies achieve a commanding position within their industry and generate consistent free cash flow. They are the profit engines of a diversified portfolio, providing the resources required for other business units to grow and invest in new opportunities.
Key Characters of Cash Cow Companies
Steady Revenue Streams: Cash cows thrive in mature markets where demand has stabilized. Their products or services achieve widespread acceptance, resulting in a consistent revenue stream.
High Market Share: These companies typically have a dominant share of the market, often due to years of successful operations and brand establishment.
Operational Efficiency: Cash cows are known for their streamlined operations, efficient cost management and optimized production processes, which allow them to generate substantial profits with relatively lower expenses.
Strong Brand Identity: Building a strong brand identity over the years helps cash cow companies maintain customer loyalty and withstand market fluctuations (read: Moody's Downgrade 10 U.S. Banks: ETF Strategies to Play).
Cash Generation: As the name suggests, these companies generate ample cash flow. This surplus cash can be reinvested into the business, used for dividends, or allocated to other ventures within the company's portfolio.
Current Market Trends
Wall Street has lost momentum since the start of August triggered by the U.S. credit rating downgrade and multiple bank downgrades. The Fed’s hawkish signal, slowing U.S. job market and weak China data added to the woes.
Fitch Ratings downgraded the U.S. credit rating to AA+ from AAA, citing “expected fiscal deterioration over the next three years,” an erosion of governance and a growing general debt burden. This has led to a strong sell-off in the stocks and a surge in yields. Meanwhile, ratings agency Moody's downgraded the credit ratings of several small to mid-sized U.S. banks and warned that it may downgrade some of the nation's biggest lenders too, citing a looming mild recession, higher interest rates and increased funding costs.
The Fed, in its latest meeting, raised interest rates by a quarter-percentage point to 5.25-5.50%, the highest level since March 2001, marking the 11th rate increase. The central bank also signaled the possibility of further increases ahead (read: ETFs to Gain as Fed Raises Rates to a 22-Year High).
Pacer US Cash Cows 100 ETF is a strategy-driven ETF that aims to provide capital appreciation over time by screening the Russell 2000 Index for the top 100 companies based on free cash flow yield. A high free cash flow yield indicates that a company is producing more cash than it needs to run the business and can invest in growth opportunities.
COWZ holds 101 stocks in its basket and has amassed $60.8 million in its asset base. It trades in an average daily volume of 1.5 million shares and charges 49 bps in annual fees.
Pacer US Small Cap Cash Cows 100 ETF is a strategy-driven ETF that aims to provide capital appreciation over time by screening the S&P SmallCap 600 Index for the top 100 companies based on free cash flow yield. CALF tracks the Pacer US Small Cap Cash Cows Index and holds 101 stocks in its basket, with each accounting for less than 2.8% share. Consumer discretionary takes the top spot at 25.9% of the assets, followed by energy (23.2%) and industrials (20.8%).
The fund has amassed $3.2 billion in its asset base and trades in an average daily volume of 579,000 shares. It charges 59 bps in annual fees.
Pacer Cash Cows Fund of Funds ETF is a fund of funds ETF composed of Pacer Cash Cows ETFs. Each of the Pacer Cash Cows ETFs is a strategy-driven ETF that seeks to
track the total return performance, before fees and expenses, of its underlying index. HERD holds five ETFs with 20% exposure each.
Pacer Cash Cows Fund of Funds ETF has accumulated $60.8 million in its asset base and trades in a volume of 10.0000 shares a day. It charges 74 bps in fees per year.
More cash-strapped Americans are raiding their 401(k)s, according tonew survey datafrom Bank of America.
Of the more than 4 million participants in Bank of America client employee benefits programs, nearly 16,000 took a hardship distribution from their 401(k) plan in the second quarter of this year (the months of April, May and June). That’s up 12% compared to the first quarter — and up 36% from to the second quarter of 2022.
On average, participants took withdrawals that amounted to a little over $5,000 in the second quarter. That’s a little less than the average withdrawals in the first quarter ($5,100) and in the second quarter of last year ($5,400).
Bank of America also found that more participants took loans from their 401(k)s in the second quarter compared to the first quarter.
Taken together, the data is a sign that, amid sky-high interest rates and two years of high inflation, Americans are looking for extra cash — and willing to tap their retirement funds to find it.
“This year, more employees are understandably prioritizing short-term expenses over long-term saving,” Lorna Sabbia, head of retirement and personal wealth solutions at Bank of America, said in a
news release on Tuesday.
What is a 401(k) hardship withdrawal?
A 401(k) is an investment account designed to help American workers save for retirement. Eligible employees can contribute a portion of their paychecks before taxes, and that money grows tax-free.
In normal circumstances, you’ll incur a fee of 10%, in addition to your regular income taxes, on any money you withdraw from your 401(k) before age 59 ½. But in certain cases, the IRS allows you to make what it calls a “hardship distribution” and avoid that penalty.
According to the IRS, these types of withdrawals can be made because of an “immediate and heavy” financial need, like a medical expense, funeral cost or unexpected home repair bill. The amount you take of your account can’t be greater than what’s necessary to cover that need.
Should you take a 401(k) hardship distribution?
You should think carefully before you withdraw money from your 401(k). The decision could be costly.
You won’t avoid extra expenses on what you take out of your plan, for one. You’ll still have to pay income tax on that money, for instance.
That’s not to mention the hit that your retirement savings will take. You won’t be able to put any of the money back in the plan like you would with a 401(k) loan, though you can still make future contributions through your paychecks as usual.
By removing money now, you’re taking any potential investment growth out of the equation, and you could end up derailing your long-term plan. That’s why experts often recommend looking for emergency cash in other places before raiding your tax-advantaged retirement accounts.
“It’s critical that employees continue to invest in life’s biggest expense — retirement,” Sabbia said.
