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

[Olubayo12]

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?

it is very unwise at all to do such, obtaining loan to trade forex? That is the height of foolishness a person can ever display. It is even better to use ones life savings on forex trading than taking loan for it. If you lose your savings, no one will mount any pressure on you

 

[Thosynho]

It depends upon you, if you are expert in Forex trading you may go for the loan and start trading with the reasonable balance or the other option is to make your account and give it to a professional trader who can manage your account on profit percentage. If you aren't an expert trader then don't go for the loan just for experience. At first You must learn how to trade and then you may start trading as it's the best thing you can do to earn a lot of money.

Thanks for the engagement. I quite disagree with your point here this is because, no body not even the expert or professional in forex can you 100% assurance on any trade. Just that they can forecast with every tool made available or at their disposal that this is how a the market will be but an invent may happen and change their forecast within a second.

 

[ahmedo24]

Thanks for the engagement. I quite disagree with your point here this is because, no body not even the expert or professional in forex can you 100% assurance on any trade. Just that they can forecast with every tool made available or at their disposal that this is how a the market will be but an invent may happen and change their forecast within a second.

I agree with you , the only use very important tools that can possibly bring profit in forex or any trading as the case may be not a full assurance because if it is a full assurance no body will loose in trading which will not make forex to exist any more because they also gain from loses.

 

[WhiteHouse]

As a best practice, it isn't fitting to take a loan and put resources into forex exchanging.
Continuously contribute 1/3 or not exactly the free money accessible with you in forex trading. This is one rule I apply consistently.

 

[Veetos12]

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?

Trading forex is a very high risk investment because the conditions attached to loan collection which may be very difficult for someone who collect it to trade forex. Once the money get lost in forex, the person remains in debt.

 

[Ub40]

To me it is not bad taking loan to trade forex or do any other business for that matter. It may be a wise decision and also may not be. I say this because you can double your money in cryptocurrency trading within a short period of time. And can also lose double of your money in a short period of time. So, in the first case, it looks wise, while in the second scenario it looks unwise. That is just my view.

 

[Kingsley]

It is not a very wise decision to obtain a loan and use the said loan to trade crypto currencies, as the crypto currency market is or might be filled with uncertainties, which can go beyond the control of the borrower. Rather is it wiser to invest on something else and use the proceeds to trade crypto. However there are people who have summon courage to access loans and use it to trade cryptocurrency as has made a fortune out of it.

 

[QalabDogar1906]

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 think it is very risky work that you obtain loan for working on forax. If you already have taken proper training of marketing and trading on forax than you take loan otherwise if you take loan you should get loss

 

[Blackjay]

It is unwise and highly risky for you to take a loan to trade forex cause forex is a hight risk investment such that without proper knowledge one can lose his or her entire capital. Aside proper knowledge one need good risk management to trade forex. Investment should be done with spare cash or actual income not loan

 

[Setfragil]

Forex trading is a professional trading business. It is not a good decision to obtain loan from the bank and used it to trade forex. If you are going to use the money you save you can risk it to trade on forex the risk is better manageable than taking a loan from the bank to trade on forex. Forex trading is an high risk investment you can lose your entire fund within hours.

 

[abubakar3141]

The Forex market is not a pyramid scheme. It is a zero money game where experienced traders and market participants make a steady profit while the average trader blows up his account. If we look at trade costs, the forex market is a negative zero game.

 

[Segshowee]

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?

I wouldn't say it's reasonable or not because what works for one person might not work for another. Your experience and expertise in the field of forex trade matters alot. If you think you have master the act of trading, the choice is yours to raise money to go live on trade.

 

[Abdul Naveed]

Unlike exchange trade markets where the daily price is set by the exchange, non-competitive foreign exchange markets do not have a daily price limit, which makes it extremely risky. In addition to volatility, low margin requirements for FX trading can result in huge losses on small price fluctuations.

 

[akinlolu99]

I wouldn't prescribe taking an advance to exchange forex. You should exchange forex with your own cash. Forex is unsafe and loosing cash you acquired to forex could have genuine repercussions.

You should exchange forex mindfully and taking credits to exchange forex doesn't appear to be dependable to me.

 

[Nicklas22]

For you to obtain loan and invest in something that's 50/50 is the most stupid decision someone will ever make
Obtaining loan to invest in Forex is very bad even though you have all the necessary knowledge about it

 

[Pauljonnes1000]

It is not advisable at all. Forex is an investment which call you to put the money that if you loose it, it won't pain you. Borrowing loan to fund forex is like commiting suicide because if it goes the other way round. Who will you hold. I won't say the rest

 

[Sariana23]

I think it is not smart to borrow to invest in forex. I do not have knowledge on the site, but I have a brother who has years in forex and I know that it is not easy. Just as sometimes you win in others you lose, he with his years of experience says that you must constantly study to invest and even so, there is the latent risk.

 

[Edward2]

I think it would be great if you had the skills, Most Forex brokers are going to let you open an account with as little as $100. While it's possible to grow a $100 account, you'll want to learn all you can from other Forex traders first, as well as practice on a demo account before you deposit real money.

 

[eojo2401]

I can't even advise my enemies to take loan and trade forex because when you borrowed money and the repayment period is near, your emotions may push you to trade when you are not supposed to trade and at the end of the day, all your money or loan you took will went down the drain.

 

[Saba54]

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?

Yes it is wise to obtain loan for the first attempt and to create invest in Forex trading because these days it is a very high earning platform and everybody is investing in this forum so you should also invest in this forum rather taking loan or investing your saving both will give you profit of the double of your early earnings