Obtaining loan to trade in forex

[Victor001]

Forex Trading on its own is risky, talk more of investing with a loan.
Forex is a volatile market and most people term it gambling because you are trying to predict the direction of the market to go in your favour.
Forex is best done with your money that you can loose. So generally taking loan to do Forex is never advisable..

 

[Bookwormlux]

How wise is it for someone to obtain loan from bank to trade on forex? No doubt forex trading has gain larger patronage from all and sundry and the rate at which many people are trooping in to trade in forex is on the increase on a daily basis.

One needs money to trade in forex but considering it's volatility nature of forex, is it wise for an investor to go extra miles borrowing or obtaining loan to fund ones forex account in order to trade or not?

That would be a very foolish decision, no matter what it is not advisable.
Forex trading itself is a very risky thing and you are very likely to lose all your hard earned money in seconds. If it is something like crypto currency trading, i think it would be better because you are sure that the only thing that would make you lose is when you sell at the wrong time so you always ensure you hold on till the price gets high.

Even the experts in crypto currency trading are not making so much money that would guarantee them taking a loan to trade, not to talk of someone who has little or no experience trading forex.

 

[IamDozzy]

I think it is really a bad idea to obtain a loan for forex trading. This is because it is very easy to lose all your money in seconds on the trading market. I will advise you start with money that you can afford to lose first of all then with time as you make use of your profits to trade. Then with time, as you become an expert on forex trading affairs you can start using huge sums of money to earn good profits. In all never take a loan for a business venture that is not certain because to my little knowledge forex trading is almost similar to gambling. Nothing is certain.

 

[Alexandoy]

You should understand that forex trading is like gambling because you can gain a profit or you can lose money. When you buy a currency you will have to observe the value for a period like a week or a month. If the currency that you bought continue to drop in value then you might be forced to sell to recover part of your investment. But you bought it by a loan that you have to repay. That will compound your losses. It is better to engage in forex trading when you have extra money so it is not painful when you do not profit or when you lose in the trading.

 

[Doradorwa]

Forex is very profitable but it's an investment that deals with your mind if the lose. Initially I don't advise any one to start any business with a loan it's very risky and it you can deal with your psychological.... Loan is not advisable from me to any business especially forex... If you know that you are interested then you can do work online like this one and be prudent with the money they pay you, save it and be prudent with it till you reach your goal... Even if you lose you will not be pained or threatened too much cou the money is yours.

 

[Masonkaycares]

I will not advise anyone to take a loan just to trade on Forex. It could be the riskiest thing ever. Trade with what you can afford to lose

 

[Peppul]

For anyone trying to obtain loan to trade forex that person is not wise at all, it's more like saying you want to obtain loan to play gambling, what do you expect the out come will be like, do you think you will win or you will loose woefully. Loan to me has never been a good thing to apply for because there are slot of things attached to loans. Loans are easy to take, sweet to spend but difficult to pay back and for someone applying to take a loan if you don't have collateral to use as a backup then it's not advisable to take loan no matter what, either for forex trading or any other thing. So it's not a good idea taking up loans to trade forex

 

[Finger Geek]

How wise is it for someone to obtain loan from bank to trade on forex? No doubt forex trading has gain larger patronage from all and sundry and the rate at which many people are trooping in to trade in forex is on the increase on a daily basis.

One needs money to trade in forex but considering it's volatility nature of forex, is it wise for an investor to go extra miles borrowing or obtaining loan to fund ones forex account in order to trade or not?

As forex trading is profitable so as there is big risk in trading. Before starting forex trading as a beginner. The person needs to learn how to trade first. He needs to know peripheral of forex trading.
After knowing what forex trading is. Next thing to do is to learn from experts that have been trading for long and has been making profit.
If a person just go into forex trading without seeking the advise of experts. When trading, he might be making profit but as time goes all the profit might come to a loss. If he has learned and know how to trade and have used the demo account to trade and has made profits with it, then he can borrow money to trade

 

[Kennysplash]

That is a very bad idea, it is like borrowing money to gamble. Forex trading is very risky and the fact that you think of borrowing money to trade shows that you are not experienced in it. If the trading goes south what will you do? If you dont have any money dont trade, don't write invitation letter to trouble. How much do you even think you can make as profit if you borrow money? Do you think you can make 100 percent profit in 2 weeks? That is being greedy, if you don't have the capital to trade don't borrow. My little cents.

 

[Thosynho]

How wise is it for someone to obtain loan from bank to trade on forex? No doubt forex trading has gain larger patronage from all and sundry and the rate at which many people are trooping in to trade in forex is on the increase on a daily basis.

One needs money to trade in forex but considering it's volatility nature of forex, is it wise for an investor to go extra miles borrowing or obtaining loan to fund ones forex account in order to trade or not?

 

[leejay]

Personally I won't take loan to trade anything that is highly volatile, lots of people are scared to take loan and do real time offline business let a lone forex, It is advisable you work hard on other forums to earn more money and start to trade forex with your own money even if it is small, gradually you will be accumulating then trade bigger which is very much safe and advisable. What if you take loan to trade forex and you lost the whole of that money at a goal how will you be able to pay back

 

[Profwriter]

In every investment, there are two sides to the coin, you either gain or loss. When making investment, or before you make investment, you must consider the two sides of the coin and not just only the side that looks good or nice, what happens if things don't go well? You must weigh the impact of what each side of the coin will yield. If you decide to burrow money to trade forex, it's because you are considering only one side of the coin, the profit aspect but you never can tell what will happen when the coin is flipped. What will you do if it turns out badly? How are you going to pay back the loan?

 

[Thosynho]

I don't think it's a wise idea to take loan from the bank for the purpose of trading forex. Forex as a whole can't be predicted if it goes wrong one can be in great debt.
I don't advice someone to take loan for bank for the purpose of trading forex.

That's just the truth you have said here. It will be a foolish thing to do when you to take loan for the purpose of trading in forex. Forex trading is a very volatile trade that no one including the experts or professionals as the case may be can give you 100% assurance of the market. In spite every analysis and paying attention to all the available variables, a sudden occurrence can change market flow in a second which could affect affect your investment badly. It's better you use your savings to invest than borrowing or taking loan to invest.

 

[Ahmedo24]

Personally I won't take loan to trade anything that is highly volatile, lots of people are scared to take loan and do real time offline business let a lone forex, It is advisable you work hard on other forums to earn more money and start to trade forex with your own money even if it is small, gradually you will be accumulating then trade bigger which is very much safe and advisable. What if you take loan to trade forex and you lost the whole of that money at a goal how will you be able to pay back the loan you took from the bank?. Reasonable risk is better.

 

[Deleted member 28873]

It not advisable for any one to obtain a loan to trade in forex even if he or she is well forex educated and has deviced a winning strategy.forex is kind off spontaneous there is no assurance that a market bulling would continue in that xme way. You might be enjoy the trill of winning today and losing terribly the following hour.you could boost your funds gradually by been disciplined and proper fund management strategy.

 

[Samuelkanu]

For me it is not advisable to borrow money to trade Forex. Forex is a very volatile business and therefore it is very risky. It involves having a high level of skills so as to be able to make money from it. There are many ways to raise money to trade Forex. You can start small through your savings or you can search online for brokers that give free capital to trade Forex. Don't borrow money to trade Forex because it is extremely whisky.

 

[BuchiBankz]

I don't think it's a wise idea to take loan from the bank for the purpose of trading forex. Forex as a whole can't be predicted if it goes wrong one can be in great debt.
I don't advice someone to take loan for bank for the purpose of trading forex.