Welllll..... I'v read a lot of expert doing it. So probably them they know what they are doing and are assured of the outcome,. Everything in this life is risk, but I won't advice anybody to go for that. If it doesn't work at the end of the day, it might caused heart problem.
How wise is it to obtain loan and trade on forex?
- Thread starter Thosynho
- Start date
I'm of the opinion that getting loan from bank to trade on forex would be the worst decision to make in anyone's life all in the name of investment. First of all, what collateral are you going to give to bank for the loan? How good are you on forex trading? If you don't have good answers to this, never try it.
not wise or even close to wise lol, forex trading or any other kind of trading is full of risk and losing money is just a matter of time, by doing that, you are literally using other people money and you'll face some serious bad consequences
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Seriously, it's never advisable to get loan or even borrow money from your friends or relatives to trade on forex. Even the very best expert in forex trading still lose money and not to talk about someone who's still new to the world of forex trading. You are digging your own grave by yourself.
With the nature of forex, I don't think is advisable to obtain loan. Forex itself is a game of chance therefore you trade with any amount you can afford to loose because the technicalities surrounding the operation of forex must be considered.
Obtaining loan to join a forex trading is not wise enough. It's a dangerous play. I have seen a lots of people with such acts and later died of hypertension as a result of the lost they encountered in such. I will not advice you to try such a dangerous game because, making profits from forex is not a sure thing. One can lose everything in a twinkle of an eye.
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However, never take the loan and trade forex yourself unless you are a highly experienced consistently winning forex trader.
Especially, if you are in a situation to take a loan to invest in forex, you might already be in a bad financial shape and therefore bad emotional state. It is better to avoid trading by self in such difficult circumstances.
Especially, if you are in a situation to take a loan to invest in forex, you might already be in a bad financial shape and therefore bad emotional state. It is better to avoid trading by self in such difficult circumstances.
It's more when someone is asking if he or she should borrow money from bank or friends and family to play online bet. You can never predict the out of the bet nor the outcome of the forex trading. So, if it goes wrong, you will be in serious debt.
According to me, I will refer to such act as mission impossible and not wise of who ever do such. First, borrowing loan is not a nice ideas because a lot of process and transactions are involved. Second, forex trading is a risky one that I would not encourage any one close to me to invest. Therefore it is a bad idea to obtain loan to trade forex.
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It is not advisable to take a loan and invest in forex trading. Always invest 1/3 or less than the free cash available with you in forex trading. This is one money management rule I apply always and it has always work out.
Getting a loan with the sole aim of investing into forex 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 d
So..my brother it is very unwise wise to d
There is no guarantee for anyone even if he is an expert. Forex trading will always make a profit in every forex trade, also loans will add to the emotional burden so that it is difficult to make decisions in fores trading. So it is not recommended to obtain a loan to trade forex. and if he loses it will be difficult to pay his debts.
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How wise or foolish it is would depend on a lot of factors. Like if you are already a veteran at trading Forex with proven formula. But if you are just a start up who just finished his dem practice then that is doom calling you.
This is a very hard decision as one might make double of the loan collected or lose the loan collected.
Trading on forex is not an money assured thing. One could lose and one could win
Collecting loans might be a little too much to trade on forex as there is no assurance that one is going to actually be successful with the trading
Therefore, I do not advise that trading on forex should be from a loan
Trading on forex is not an money assured thing. One could lose and one could win
Collecting loans might be a little too much to trade on forex as there is no assurance that one is going to actually be successful with the trading
Therefore, I do not advise that trading on forex should be from a loan
I have seen someone who collected loan to trade forex, he was lucky though because he traded carefully and return the loan but lost the remaining fund after returning his loan. Personally I will not advice anyone to get a loan for forex, if you are good in forex, you can grow $200 high, I know when u have big money is when is good but am against loan.
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You can avail of a trade loan with minimal documentation. You simply need to submit the following documents: Identity proof: Valid identity proof like Voter ID card, driving license, or passport would be required while applying for a loan for trading business.
It is not wise at all, do not do it . The pressure of paying back alone will put you in a bad place. You may be a shark and have a lot of knowledge on forex trading but I still would not advice you borrowing, what if you get unlucky....... doing this makes it more like a gamble and no longer forex trading
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.
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It's more when someone is asking if he or she should borrow money from bank or friends and family to play online bet. You can never predict the out of the bet nor the outcome of the forex trading. So, if it goes wrong, you will be in serious debt.
It's even more understandable to get a loan and start a new business, put in your efforts into the business and grow it, then make more money and pay back the loan. Unlike getting a loan to trade on forex where you have no control over what happens in the market.
Obtaining a loan itself is a Risk, trading on Forex is another risk, big one for that matter. Now, imagine obtaining a loan to trade on Forex. Imagine how great the risk is! I don't think anyone in his right state of mind can every try such. To answer your question, it's a very bad practice to even try that.
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