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

[Sariana23]

It is not a good decision, 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.

Very good your tips, excellent analysis @Olaoluwa Abraham Abiodun , I believe like you, that the best way to venture and operate in forex is with your own money, if you lose or win you will not have debts with third parties. Because as you describe even the professionals themselves can lose.

 

[Setfragil]

It is not really a good financial advice to obtain a loan to trade on forex. Forex is very risky and it needs an experience and expert to make money from it. If you obtain a loan to trade cryptocurrency, what will you do if you lose the money to forex trading in days?

 

[Heatman]

As far as I am concerned, this would be the most stupid thing to do by anyone who is not mad. How can you get a loan only for you to make use of it to trade on forex?

 

[Richard92]

As far as I am concerned, this would be the most stupid thing to do by anyone who is not mad. How can you get a loan only for you to make use of it to trade on forex?

To me it is a very big risk to obtain loan and trade in forex trade because forex trade is not that reliable and I will say it's better for you to use your money to trade in forex trade down collect loan.

 

[Heatman]

Seriously it's definitely going to be only a mad man or a mad individual that would be so stupid enough to get bank loans and use it to trade on forex. It's 99% chance to fail as a result of pressure.

To me it is a very big risk to obtain loan and trade in forex trade because forex trade is not that reliable and I will say it's better for you to use your money to trade in forex trade down collect loan

 

[Richard92]

Seriously it's definitely going to be only a mad man or a mad individual that would be so stupid enough to get bank loans and use it to trade on forex. It's 99% chance to fail as a result of pressure.

that is not a wise decision but a foolish decision to take loan and trade on forex trade this is because forestry is just like gambling because it involves prediction and one might lose.

 

[Heatman]

No matter how you look at it it's only a fool that will get a loan and use it to trade on forex because it is not a wise decision to do and even if bank know that you will use the loan to trade on forex they will not give you the loan.

 

[Alexandoy]

It is not really a good financial advice to obtain a loan to trade on forex. Forex is very risky and it needs an experience and expert to make money from it. If you obtain a loan to trade cryptocurrency, what will you do if you lose the money to forex trading in days?

My question on this issue of getting a loan for investment is when the investment fails what happens to the loan? It is not a good foresight to put a pressure on yourself with a loan that you need to pay in monthly installments. Take note that investing has risks involved so a loan is not in safe hands with forex.

 

[Heatman]

It is not really a good financial advice to obtain a loan to trade on forex. Forex is very risky and it needs an experience and expert to make money from it. If you obtain a loan to trade cryptocurrency, what will you do if you lose the money to forex trading in days?

Well anyone who tells you that it's a good idea to get a loan and use it to trade on forex is a very wicked person who will die a horrible death for trying to lead one astray.

 

[Prettyjanie]

It is absolutely unwise to obtain a loan from the bank to invest in forex trade. Forex is an investment that is uncertain therefore risky to take such move. Knowing that whether the investment succeeds or not, you have a loan to pay back.

 

[Heatman]

Nothing would ever make it to wise idea for you to take bank loan or any financial aid from any financial institutions to trade on forex. If it's to invest in real estate, then it's better.

 

[Shigobad2020]

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?

That's the last thing you should never do, obtaining a loan to trade on forex is a very difficult thing to do even if you are good at forex trading, you might loose it all because younare not guarantee 100% Chance of winning,

 

[Kunkun]

Taking out a loan to invest in forex is a bad decision if you ask me, because forex is a very risky business not a get rich quick shower so it's imperative that one starts with money he could afford to lose

 

[Alexandoy]

To me it is a very big risk to obtain loan and trade in forex trade because forex trade is not that reliable and I will say it's better for you to use your money to trade in forex trade down collect loan.

Let's say you get a loan and your collateral is your home. You then place the loan proceeds to forex trading. When the trading loses money then your problem would be the collateral if you cannot pay back the loan on time. Trading in forex is like gambling so you have to be aware of the risk.

 

[Setfragil]

This is the most dangerous thing to do. Trading on forex needs a good training and experience to be successful in it or else the person will lose all his money and taking a loan for such high risk business is not a smart move.

 

[Trexxxy]

If anybody ever did this, then that is just dumb and being shortsighted. The worst decision would be to borrow a loan and trade forex, you could lose it all in an instant.

 

[Sotherefore]

nobody is really sure about trading on forex because the market is so volatile that you may be at risk of losing your money,there is nothing wrong with getting a loan to start up something you really believe that you will succeed but this one might not be the best.

 

[HayKay]

I'd have said go ahead but your last statement just gave you away, the fact you said you want to double your investment. You're already entering with a bias and greedy mindset.
Even the best traders lose money, what then happens when you borrow money?
Be wise bro

 

[Alexandoy]

nobody is really sure about trading on forex because the market is so volatile that you may be at risk of losing your money,there is nothing wrong with getting a loan to start up something you really believe that you will succeed but this one might not be the best.

Trading or investing in forex or stocks or even crypto coin is a big gamble. Getting a loan means you have to pay not only the installment but also the interest. If you are not sure of earning a good profit then you might lose somehow because of the interest on the loan that you have to pay back.

 

[Sotherefore]

Trading or investing in forex or stocks or even crypto coin is a big gamble. Getting a loan means you have to pay not only the installment but also the interest. If you are not sure of earning a good profit then you might lose somehow because of the interest on the loan that you have to pay back.

This is not actually a gambling if you are trading cryptocurrency because I've seen a lot of people who are really making so much with cryptocurrency investment, there are a lot of things that always lead to failure.