How wise is it to obtain loan and trade on forex?

[Thosynho]

Can you say it's reasonable enough for someone to obtain loan with the main aim of trading in forex?

Will you consider it as highly risky venture or low risk venture? What if the trader is an expert in forex trading? What if he was able to double his investment within the shortest time?

 

[Blue house]

It is very unwise bro, please do not borrow money to trade forex, I repeat again never ever dare borrow money to trade forex, because forex is a two way game, it's either you loose or gain, even the professionals at times makes high loss, not to talk of an amateur, save up some money, withdraw it then invest it on forex if you are in profit, it's good and if it's vice versa you won't need to be thinking of where to find money to pay back the loan you borrowed, your debt will be in one place.

 

[Thosynho]

It is very unwise bro, please do not borrow money to trade forex, I repeat again never ever dare borrow money to trade forex, because forex is a two way game, it's either you loose or gain, even the professionals at times makes high loss, not to talk of an amateur, save up some money, withdraw it then invest it on forex if you are in profit, it's good and if it's vice versa you won't need to be thinking of where to find money to pay back the loan you borrowed, your debt will be in one place.

I so much love and appreciate your contribution here. Indeed forex trading is an uncertain trade that could change suddenly. Even the so called professional traders loose huge money to forex. It's not advisable to get loan to trade forex.

 

[Herzhan]

Can you say it's reasonable enough for someone to obtain loan with the main aim of trading in forex?

Will you consider it as highly risky venture or low risk venture? What if the trader is an expert in forex trading? What if he was able to double his investment within the shortest time?

You can obtain loan to start trading in forex. But first have you Learnt the danger behind forex. Do you know the rules, loss of the forex. Don't borrow money you are not sure you will pay back

 

[Chibson]

Never try such because if you lose the money you will end up depressed and suicidal. I have heard the story of a guy who used his friends money about three hundred thousand naira to trade on forex and he ended up losing everything. He later committed suicide. Never you borrow money or take a loan to invest on uncertainty.

 

[Kayzzy3]

Can you say it's reasonable enough for someone to obtain loan with the main aim of trading in forex?

Will you consider it as highly risky venture or low risk venture? What if the trader is an expert in forex trading? What if he was able to double his investment within the shortest time?

Very wise if you know what to do in the forex market, if you have the right knowledge, strategy, spread, leverage, to mention but a few. You can make trades that will bring in the money and you will repay your loan.

Recklessly unwise if you are beginner who know little and just hoping that magic will happen, you may loose your money and be indebt.

 

[Khezo]

Its a foolish idea. I'm telling you this because I also trade forex and I can tell you that when you justing would lose money. You heard me right, every forex trade lose money when they are just starting. Its just a part that can never be escaped so don't

 

[kayode10]

It is not wise to get a loan just because you want to trade a Forex. it is like a kid playing with two edged sword. Whichever way is swings the sword he is likely to get caught with it. The same thing goes for investing in forex trading with a loan. There is going to be a great problem if it happens that a forex trading does not yield prophet. if it happens that you are just starting out it is good and advisable for you to use your own money.

 

[Folaham]

The bigger the risk, the bigger the reward they say but I don't advise anyone to take up loan to invest in forex. The probability of success is guaranteed and as such it son be a wise decision to do so

 

[Sanusi]

Its a great idea because atleast you are removing the money in naira. Investing with the intention of using the money for forex trade, forex trade is one of the profitable platform whereby you can invest any kind of amount.

 

[Gilead]

Do you mean how wise?.. lol. This is very funny, it's never wise to borrow loan to trade in forex, forex is a 50/50 investment Street you do not risk such into forex. If you want to trade forex then save till you could invest all trade in forex.

 

[Nathaniel]

Obtaining loan with the sole aim of investing into forex...this is a very very very bad idea....
Forex is not always trust worthy or giving possible turn over most especially if u don't av d logics of dealing with it
So..my brother it is very unwise wise to do that

 

[Erik4150]

I wouldn't recommend taking a loan to trade forex. You should trade forex with your own money. Forex is risky and loosing money you borrowed to forex could have serious repercussions.
You must trade forex responsibly and taking loans to trade forex doesn't seem responsible to me.

 

[Alexandoy]

This reminds me of a relative who borrowed money to bet on a cockfight. He had analyzed the 2 cocks that will be fighting so it is just choosing which one to bet on. When he lost the bet can you imagine his situation regarding the money that he borrowed which was lost in the cockfight? Getting a loan to invest in forex is similar to gambling. The usual question is what will you do if your investment is burned, how can you repay the borrowed money that you used as capital for your forex trading?

 

[Briangsam]

Definitely not the smartest of moves. You can not invest in something as unsure as forex. On the grand scheme of things, it is a very high risk investment. It is even worse as you borrowed the money. Once you lose it, you are back to noble.

 

[Psalmsavatar]

And when the money sinks in the forex, what next? It's not advisable to take such risk. If you're taking loan at all, invest it where the return is sure, no matter how small the return may be.

 

[Tinaconcept]

No very unwise to loan money and trade on forex. Forex trading is dangerous its a high risk trade anything can happen in fact you can loose the whole of your money at once or double the whole of your money but which ever way taking the risk with your own money is better than someone elses

 

[Ifective]

I wouldn't advice such. Forex is more like probability. It's like gambling. It's either you win or you lose. It is very risky to borrow money to start trading on forex.
It is true they say you should take risk but not this kind. This one might lead to debt that you might no be able to pay back.
It is better to lose with the money one has than to borrow money and then starting thinking of how to pay back

 

[Niftyyem]

The risks involved in trading forex is high and taking loans just seems irresponsible to me. Nevertheless, if you are certain about the business of forex trading and equipped enough with knowledge, then, maybe.

 

[Sake]

Nope, never do that unless you want to be buried in loans... Forex is Risky there's a good chance that you will loss your money so getting loan for it seems like a asking for a disaster to happen in your life. If you don't have money to trade just don't.