Forex is an advanced gambling. You can either lose big or win big but there is slim chance of broke even. So if you know you cannot withstand the loss, I won't advice you to borrow money for it. Save your money and invest if you have the courage.
How wise is it to obtain loan and trade on forex?
- Thread starter Thosynho
- Start date
Not at all. It is not wise in any context. Because trading in forex is totally risk. I heard people lost everything in once at Forex so investing there is a gamble and with money of loan is just stupidity and double gamble.
Nope, it is stupidity from any angle, forex trading itself is gamble plus uncertain that will we get success or not, with loan you will be in trouble and will mentally stressful. So don't do this, but you can invest in crypto by money of loan it is good and wise .
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If you are to take a loan to trade on forex then i will advise that you must be sure that you are well grounded in forex or u can partner with a well trusted broker so as to avoid loss of capital
It's not wise at all to obtain loan and trade it on forex, It's like borrowing money and using it to make bet on bet9ja, what if you looses all the money in the process, the money you put in forex trading is a risk. So its not advisable
Ojueromi
Familiar Face
In fact, it is tough to establish unique criteria, due to the fact they rely on both the brokers and the buying and selling functions of every trader.
A lot of traders decide upon Forex brokers with low spreads for surfing, but some pick ECN / STP ones which only charge commissions for trading.
Meanwhile, many merchants select the brokers with excessive leverage, which allow withdrawing cash as rapidly as possible ... Therefore, ranking Forex brokers also relies upon on the trading method of each trader. Here are some advised criteria:
A lot of traders decide upon Forex brokers with low spreads for surfing, but some pick ECN / STP ones which only charge commissions for trading.
Meanwhile, many merchants select the brokers with excessive leverage, which allow withdrawing cash as rapidly as possible ... Therefore, ranking Forex brokers also relies upon on the trading method of each trader. Here are some advised criteria:
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There is no level of being well grounded in forex that you can be which would make you not to lose some trade. No one ever beats the forex trading system 100% always. You will always lose some and gain some. So if you are not really good at it, trading with loan funds is not wise in my opinion.
Well, there are opportunities in risk taking but some risks are not worth taking if someone needs peace of mind. I would not support taking Loan to invest in forex trading even if the trader is a super hero. What I it backfires? what would be the fate of that person?
the risks involved in trading of cryptocurrency is so tremendous that I don't advise anybody to borrow money and trade except you are 100% sure that you will make the money and return it to the owner but if I don't have any idea of how cryptocurrency works and how you can return the money I would not advise you to go into it.
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I would consider this the highest risk investment that has ever graced the surface of this earth, I won't even advise my worse enemy to try such a thing, it is very risky, in fact more risky than the word risky itself. It's a total no for me. Please don't try such.
It is not wise to take lone and invest it on forex trade because forex trade have very high risk and for you to Invest on forex trade on that high risk is unadvised.
Seriously, it would be an insane decision to get bank loan and use it for trading on forex. There was a Forex company I knew that lost 5.9 million Naira on forex in a day, even with all the expert they had trading on their behalf. Imagine what will happen if it's an individual.
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If someone invest with a loan there's high tendency of running at lost while trading in forex. The market is not always promising sometime. Imagine one run at lost you are loosing two things at the same time that the loan and the profit to cover for debt. It not really encouraging and advisable to go for loan in other to start forex. Even if one has a concrete plan, it will still be at stake. Personal money or huge percentage of money from you is still better off.
A loan to trade forex? I wont even advice my enemy to embark on such adventure. It is one of the highest risk one can take. Forex even as an expert your founds can go down the drain in second. No amount of expertize should guarantee you taking such a risk. It is a deadly risk ever I my is view.
It is not wise to take a loan and invest the loan money on forex, because there's never an assurance that you will win money on forex, forex is a 50-50 case, and you are more likely to lose than win money on forex.
So don't invest loan money on forex, channel the money to fund some other businesses
So don't invest loan money on forex, channel the money to fund some other businesses
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This is not advisable, it's a gamble and you might be badly wounded. I tell people that forex isn't a get rich quick scheme. It's easy baby steps
I will not advice anyone to get loan and invest on forex trading because just like every other investment forex trading has its own heavy risk too. You can even loose the total of money invested on forex trading which is not healthy for a debtor. Investment generally should not be done with loan its not adviceable.
I don't think it is advisable to collect loan in doing trading it is a very big risk because 20 minutes give or take and you can lose a lot of money why you are doing 3D so I will not be advised anybody to collect loan in doing training especially if you're not an expert
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That's a huge amount of money and beside trading of Forex is too risky for me and I don't go into that i will rather concentrate in trading of bitcoins or crypto trading because that's the most suitable form of trading for me as the risk is low compared to trading of Forex.
Getting a loan to start a business is a bad idea in it self, now getting a loan for a high risk business like forex is a bad ideal, it will put so much pressure on such person that he might eventually lose all the money
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