Well it depends on the level of skills that you have. If you are a professional forex traders who knows his onions very well, you can take a loan to trade forex.
How wise is it to obtain loan and trade on forex?
- Thread starter Thosynho
- Start date
It's not wise my friend. The forex market is really risky and borrowing money to trade it no matter how good you might be is a bad decision.
Some investors I know had borrowed money to invest in stocks. When the price dropped in the market they had to pay the installment of the loan while waiting for the price to increase so they can sell at break even. They had practically lost on the interest of the loan already.
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I will say that that is very far from been called a wise move to do to collect loan simply because you want to go trade it in forex? Not a wise or smart move at all. No one will sanction such move. If you don't have the funds to trade forex, wiat till you get it then
I will never advise people to borrow money to trade either forex or crypto currency because it is very risky to borrow money for that. Last year I borrowed money to trade crypto currency. I was making profit until there is bull in price of the coin and I made some lost
You are going to regret this decision honesty if you go ahead and do it. because there is a high probability that you're going to lose your money in the process. Better to look for something else good to do with the money.
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Forex is a volatile market, I would not advise anyone take a loan on forex except you are sure and have made money from the strategy you want to use for the loan
Please, I don't think it's wise at all, no matter the angle I look at it from. Considering how risky the forex trading business is, that will be a very bad idea
I would not even advise anyone to toe that path,because it is not actually a good investment sense to indulge in.The market trading of forex is a very volatile form of trading filled with uncertainty and one can loss his funds in a twinkle of an eye.
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I won't advice anyone to try such thing , I think using loan money to trade forex ,is a very risky move and the person involved could end up making loss and even entering more debt , because of the fear of loosing and others
To me it is not a wise decision to apply for loan and trade in Forest today because for a student is a very risky business if not with your money it is not wise for you to apply for loan on trade in such business.
How wise otnis to obtain loan all because you want to trade it with forez market? That will be very unwise step to take please in my own opinion. Don't do that. The risk is not worth the reward comparatively
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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.
In any kind of trading whether it is forex, stocks or even crypto you must have your own money for the investment. When you borrow money think if the investment is failing and you cannot sell so your budget is affected because you will have to pay the installments for the loan.
Ryanmulenga7
Familiar Face
You should never obtain a loan to go use on unassured investment so let's refrain from using it for those purposes .just have a conscious and go get a loan for things other than trading or betting or anything that will give you money back for a for short times
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For anyone who wants to be successful he should be able to take risk most times to achieve certain things, but it will be unwise for an individual who knows nothing about forex trading to take a loan to start forex trading, before you can take the risk if getting a loan make sure you have ideas and you are much experienced when it comes to forex trading
Forex traders will borrow money if they are highly motivated and hope to make high profits, or to increase capital when they get a margin call. But debt to trade forex is not a healthy way, even though he is an expert because in every trade he will not always make a profit.
Well I don't think there's any necessity of obtaining loans most especially from an online site such as the forex even thou it helps but I also believe loans are not quite effective for running a start business is only due for business that has been in existence.
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Taking a loan to invest in forex trading is the highest risk to take by trading on forex, well as for me I don't think I can take that kind of risk all because I want to trade because what I was told is that trade what you could afford to lose.
I believe every business is a risk, but one thing I can't advice anyone to do is to borrow money to invest in forex no matter how good the person is, I believe is 50-50 chance
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