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Q1-
What is www.AlAhlibrokerage.com? |
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A-
It is an internet service provided by NCB for clients to
directly buy and sell
US
securities traded in the NASDAQ and DOW industrial
markets.
www.AlAhlibrokerage.com made NCB the first
bank in the kingdom to offer this service to its
clients as part of
its wide range of banking and investment services. NCB
was the first Saudi Bank established in the Kingdom of
Saudi Arabia and is now one of the largest banks in
the Middle East. |
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Q2- How can I open
an account with www.AlAhlibrokerage.com? |
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A-
Opening AlAhlibrokerage account is very easy and simple. Just
follow the steps below:
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Go
to our website
www.AlAhlibrokerage .com or click on
“Home” if you are currently on our web site.
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Click on
Open an Account
in the
left hand side menu.
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Click on New Account Application Form.
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Click on “Accept” button after reading and agreeing to the
Customer Agreement.
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Fill and complete all the fields
in the application.
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Click on “Print” button to print the application.
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Click on “W8-BEN”,
print it out and fill the information required,
then date
and sign the form.
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Send us:
Required:
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You must have a current account with The National
Commercial Bank.
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You must subscribe to AlAhli Phone Banking (Full
Service) through any NCB Branch. This will enable
you to execute or place orders using our Call Center
Agents. Dial 800-244-6666 then press number 5 for
International Brokerage.
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Your signed AlAhliBrokerage Application Form
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Your Signed W8-BEN Form
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Copy of your Saudi ID or Iqama
9.
At your convenience, send or deliver your signed
forms to any NCB branch or mail it to the address
below: (Please make sure that you keep a copy of all
the forms you send to us).
The National
Commercial Bank
ALAHLI Brokerage
AlNakheel Center
Palestine Street
P.O. Box 8039
Jeddah 21482
Kingdom of
Saudi Arabia
We
will send the account opening confirmation and all
that you need to start trading to your e-mail address
within 2 business days from the time of receiving your
application at the address above.
We look forward to seeing you online. Should you
have any further queries, please contact our customer
services representatives at 02-643-4672 or Fax
02-643-6460. If you have any questions, please
email us at
info@alAhlibrokerage.com |
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Q3- If I have an
account with another broker, can I transfer my account
to www.AlAhlibrokerage.com? |
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A-
Yes
you can transfer your account from another institution
to alAhlibrokerage. Fill in an
ACAT formand
send it to us with your application form. If you have
an account with us, send the ACAT to us and we will
transfer your portfolio holdings or what ever you
specify in that form.
To
transfer your account from another broker to NCB using
ACAT form:
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Open a brokerage account with AlAhlibrokerage.com (please
see the steps to open an account)
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Provide a copy of the last monthly statement of
your existing brokerage account.
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Complete the ACAT form.
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Send us by mail all documentation to :
The National
Commercial Bank
ALAHLI Brokerage
AlNakheel Center
Palestine Street
P.O. Box 8039
Jeddah 21482
Kingdom of
Saudi Arabia
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Q4-
What types of accounts can ALAHLIBrokerage
accommodate? |
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A- ALAHLIBrokerage
can accommodate the following accounts:
- Individual
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Joint
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Q5-
What type of securities can I trade? |
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A- ALAHLIBrokerage
members can invest directly in U.S. Equities (Listed
Stocks & OTC Stocks) and Options. |
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Q6- What trading
features are offered in www.AlAhlibrokerage.com? |
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A-
ALAHLIBrokerage has the following features:
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Real time quotes
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Real
Time Streamer
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Options Trading
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Day
Trading
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Market orders
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Stop orders
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Limit orders
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All-or-none orders
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Fill-or-kill orders
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Cancellation of orders
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Replacement of orders
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Real time online order status
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Real time execution reports
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Pre-market trading
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After hours trading
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Q7-
What type of online research does ALAHLIBrokerage
provide? |
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A-
At
www.AlAhlibrokerage .com we pride ourselves
in providing you with access to state of the art
research, including the
following:
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Pershing Research – Commentaries
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Pershing Research – Reports
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S&P Snapshot Reports
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S&P Market Scope
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S&P
Stock Center
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Annual Reports
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Q8-
How secure is
www.AlAhlibrokerage.com
website? |
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A- Nothing is more important to us than the confidentiality and
integrity of our customers' personal information and
account data. The Internet site provides private,
secure communications. The confidential account
information and transactions are secured (encrypted)
with the latest Netscape Secure Commerce Server
technology. Additionally, members are required to
access their account using one of the latest secure
browsers such as Netscape Navigator (version 4.06 or
higher) or Microsoft's Internet Explorer (version 4.0
or higher). We highly recommend our clients to have
anti virus software installed in their PCs , run the
live update for the virus definition on a weekly basis
and run the latest security patches for Microsoft.
When an investor logs into his account, the encrypted
(secure) areas can be easily identified by two
characteristics. The first distinction is the location
(URL). Pages using encryption will have URLs that
begin with https:// (instead of http://). The second
characteristic is the key icon that appears in the
lower right corner of the browser.
The servers also use "cookie" technology to ensure the
account's confidentiality and security, to make it
easier for users to navigate through the Internet
site, and to enable them to create customized
information on the Internet site based on input they
decide, including model portfolios.
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Q9-
What is the minimum amount required for opening an
account? |
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A- Minimum
amount is US Dollars 2,000.00 in cash and /or
securities. However, special promotional offers may
have different equity requirements per account. |
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Q10- Do I have to
maintain a minimum US Dollars balance in my account at
all times? |
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A- Once the account is opened, there is no
minimum maintenance balance. |
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Q11- How can I
check if my account is available for online trading? |
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A- The
first sign that your account is ready for trading is
the email that we send to you on your private email.
It’s a welcoming email telling you that your account
application has been processed and that your trading
account has been opened.
You can start trading once you obtain your password
from the agents at our toll free number 800-244-6666.
You can check the status of your new account on the
homepage of our website using your user ID and
password. Your status can be checked online 24 hours a
day 7 days a week. |
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Q12- Can I open an Option account? |
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A- Yes
, we are offering option trading subject to client investment
suitability. You simply need to fill out the
option agreement and send it to us.
The application will be reviewed and, if appropriate, option trading
privileges will be extended to your account. |
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Q13- What is a Day Trading account? |
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A- For
investors whose personal trading styles tend to be more short term or
who trade regularly during the day, ALAHLIBrokerage offers Day Trading
Facility. As a Day Trader, your account will be designated as a
"Pattern Day Trading Account" and you will be able to buy and sell
your deposited amount several times in a day.
Such accounts must have a $30,000 minimum balance and the transactions
have a 100% cash requirement. If you wish to apply for "Day Trading",
please click here and read, complete, sign and return the attached
Day Trading Application. |
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Q14- Can I trade
OTC bulletin boards, pink sheets, or penny stocks? |
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A- Yes.
However, OTCBB securities usually represent shares of
new or small companies traded by dealers via manual
procedures. Investing in OTCBB securities may be very
risky. Accordingly, the trading rules for OTCBB
securities differ significantly from listed NASDAQ
securities. Quotes for OTCBB securities are not
guaranteed as the securities are traded manually,
therefore, real time quote information or even firm
quotes may not be available. Investors should also be
aware that frequent symbol changes and deletions might
occur in the market. Before placing an order for an
OTCBB security, please take the time to carefully
research the company and examine your investment
objectives. |
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Q15- How often are
the indices and Dow Jones graphs updated on your site? |
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A- Every
15 minutes |
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Q16- If the customer
makes deposit to his trading account, when can he
start trading using his new deposit? |
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A- After
one working day |
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Q17- What kind of
documents should the customer bring to the branch in
order to open a trading account? |
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A- In case the customer has a current account with NCB, there
are two types of documents needed.
Necessary documents:
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Customer application form (individual - joint)
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W8 form (federal tax exemption form)
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Customer agreement
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Account transfer form (ACAT
if you are transferring
securities from another broker)
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Copy of Saudi ID or Iqama
Optional documents:
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Day Trading Agreement
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Option Agreement
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Q18- Do I have to
have a current account to open a trading account? |
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A- Yes,
the customer must have a current account to open a
trading account. Then he must join the phone banking
service “full” function to be able to use the services
of the call center agents. |
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Q19- Is there any
additional commission if the customer placed trade
through the Call Center? |
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A- Yes, about $20 in addition to the trade
commission |
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Q20- Can the
customer open a trading account without visiting the
branch? |
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A- Yes,
it is possible under one condition: the customer must
have a current account with NCB. Simply go to our
website www.AlAhlibrokerage
.com and
fill the application and other required forms and send
them by mail to the customer service mailing address.
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Q21- How many days
does it take until the customer receives the password
and the user ID? |
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A- The process will be complete two business days from the day
we receive the application forms of the client. |
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Q22- Can the
Customer cancel a trade or modify it form the site? |
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A- Yes, the customer can cancel a trade or modify it, simply by
going to cancel order or change order under the order
status page. |
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Q23- What type of
information does the site provide to help investors
make the right trading decisions? |
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A-
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Market Researches
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Companies reports
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Quotes & news
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Charts and graphs
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Q24- What makes www.AlAhlibrokerage.com service unique? |
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A-
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Local support and customer service center to attend
to your inquiries in Arabic and English languages.
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Your status (account and position) can be checked
online 24 hours a day 7 days a week.
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Substantial
research material and information available at your
finger tips.
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Multi
delivery channels including the internet, phone
trading, and private personalized service.
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Convenient
and easy to use systems (with full fledged demo
capabilities).
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You can trade OTC bulletin boards, pink sheets, or
penny stocks.
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Q25- Does the bank
provide any quotes when the customer first open the
account? |
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A- Yes, the customer gets 100 real time quotes when opening an
account and an additional 100 free real time quotes
for each buy or sell transaction. This is a privileged
service free of charge for our trading customers. |
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Q27- What should
the customer do in case his password got locked? |
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A- The customer should call the help desk at 800-244-6666
and ask to reset the password. |
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Q28- Does the
customer need to wait for the settlement day to use
the money or the security? |
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A- No,
the customer does not have to wait for the settlement
day to use the cash or stock in his account. |
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Q29-
What are the available order types and order
conditions? |
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A-
When
you are buying or selling stock, the type of order can
affect the way your transaction is executed.
Order types are shown below :
Type
of order
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Definition
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Advantages
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Disadvantages
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Market
order
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An
order to buy or sell a stock at the current
best displayed price
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Typically
ensures execution of the order
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Price
could be uncertain in a fast - moving market
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Limit
order
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An
order to buy or sell with a restriction on
the maximum price to be paid or the minimum
price to be received
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Order
will be filled only at your specified price
or better
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Execution
is not assured
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Stop
order
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An
order to buy or sell at the market price
once the security has trade at or through a
specific price ( stop price )
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Acts
as an automatic entry or exit trigger upon
movement of price in a specified direction
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In
fast -moving market the order could be
executed at a different price than what you
expected
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Order
conditions:
In additional to determining order
types, order conditions can have a further
effect on how you order is executed. It is
important to understand how these
conditions can restrict the execution of your
order since, generally speaking
they could delay the execution of your
transaction:
Restriction
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Market
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Applicable
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Other
Advantages Types
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Disadvantages
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All
-or- none
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Listed
or over the counter (OTC)
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For
listed stocks (limit order only)
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Entire
order executed at one time , subject to
only one commission
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Possible
delay of execution. Potential for order
to be given least priority
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Fill
- or- kill
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Listed
or OTC
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Limit
only
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Complete
immediate fill - or no fill at all
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Same
as above
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Q30- When looking
at the status of my online trades, what do the order
status codes mean? |
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A- When you submit your trade through
AlAhlibrokerage.com the trade is sent for execution.
You would be able to track your order by going to “
Order Status” tab.
Below
are the definitions of all status codes:
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Pending: Your order
has been queued to be sent to the market for
execution.
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Open: Your order has
been sent to the market
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Partial: Part of your
order has been executed and the rest of your order
is still “Open”
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Executed: your entire
order has been filled or ”executed”
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Q31- My portfolio
has disappeared. Where is it and how can I get it back? |
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A-
When you create your own portfolio you are creating
a “cookie” file which is refreshed each time you view your portfolio.
This “cookie” file is stored in your hard drive. Therefore, you can
only view your portfolio on the same computer which you created your
portfolio in. You will lose your portfolio that you create if
you do the following:
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Q32- How do I
access my account for the first time? |
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A- To access your account, simply click on “Log In”.
You will be asked to enter your User ID and Password.
Upon receiving your application we will send you a
welcome email with instructions regarding activating
your account. The first time you access
AlAhlibrokerage.com you will be prompted to change
your password. |
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Q33- How can I
change my password? |
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A- When you access AlAhlibrokerage.com the first time
you will be prompted to change your password
immediately. You can change your password again at
anytime. After you have entered your current password,
click on “Customer Service” then select “Change
Password” and follow the instructions on the page.
·
Note: Never reveal your password to another person.
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Q34- What does it
mean when it says your account is a "cash account"? |
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A- In cash accounts, we do not give margin facility
for the clients. The client can use only the cash
available in his or her account for trading on daily
basis. As per the market rules and regulations
all
trades should be settled in three days.
This
means that you have to have the cash in your account
to cover the cost of all the buy transactions you make
(executed) and the cost of open buy orders, day orders
and GTC. Cash accounts mean also that the number of
times you can use your cash
available
in
trading (buying & selling) in a single trading day is limited to one
time. Violation of this rule will result in restriction on your
account. |
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Q35- What is a
90-day restriction? |
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A- When your account is on 90 day restriction, you
can only use the cash available in your account (cash
that is settled in your account).
For example, if you sell a stock from your
portfolio, it takes three days to settle the
transaction. When your account is on 90 day
restriction the cash generated from the selling of the
stock can’t be used to place buy orders until
settlement (three days) where in normal account
condition you can use the cash generated the next day
or same day in some cases. |
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