Have you ever experienced to borrow money for Forex trading?

hk_09

Banned
Oct 30, 2020
90
12
19
38
I would prefer to stop trading for a while, rather than borrow money and trade. A big no for me.
 

forexking

Newbie
Feb 15, 2021
28
4
3
32
Borrowing money is not a great option. Predicting the market is a tough task. So you can’t be sure that you’ll make profit by investing the borrowed money. So it’s always better to trade with your own money.
 

Jerry_Ken

Trader
Dec 11, 2020
57
5
9
32
Well this is something you should never do. Invest only that much capital which you can afford to lose in forex. Its not certain if you'll be able to make profits from the money you've borrowed in which case you'll be under debt and hence devastated to have take such a decision. Always better to tarde with the funds you have or dont do it at all.
 

inggo

Banned
Jan 13, 2012
498
12
59
Philippinese
"only invest what you can afford to loose" this is a unofficial rule in any investment, and no never borrow just to trade especially if you dont know what you are doing.
 
Aug 5, 2021
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20
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Not a good idea to borrow, although I’m sure a lot of beginners have done so. Still, it isn’t good to go into debt because you’ll have to dig yourself out of it. Plus, if you do badly at trading, then you’ll have to find another way to pay those people back, or continue borrowing in a cycle and lose more and more. I think a good rule of thumb is to only invest free money that you have…meaning no using money that is meant for bills or to live on, only extra spending money so that you don’t go into debt.
 

sunar14

Banned
Jan 17, 2021
77
8
19
28
Do you think newbies borrow money for initial trading?
Is it only newbies or almost all traders who are addicted to it?
How about you? Have you experienced it too?

Your broker makes short-term loan to you when you trade with margin. However, without leverage FX trading makes little sense because of measly returns.
 

sunar14

Banned
Jan 17, 2021
77
8
19
28
I regularly borrow since I trade with leverage that's why you have to take into account such thing as swaps.
 

Glossy

Trader
Aug 2, 2021
43
4
14
32
Poland
I don't think that's the right idea.
You need to start trading only for your own money.
 

Jungletrader

Banned
Sep 5, 2019
78
7
19
44
No definitely not and I strongly advise against it as it brings its own negative emotional baggage.
As they say only risk what you can afford to lose
 

SmartX

Newbie
May 27, 2021
11
2
4
27
According to me, borrowing money in forex trading is not a good idea, it is always better to use your money because you never know whether you will get profit or loss and risking someone else's money can put you in major risks as well.
 
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Reactions: no_frame

no_frame

Trader
Aug 21, 2021
44
2
9
31
According to me, borrowing money in forex trading is not a good idea, it is always better to use your money because you never know whether you will get profit or loss and risking someone else's money can put you in major risks as well.
Agreed!
Trading using borrowed money can cause more trouble than just losing a trade. You not only have the risk of losing money, but you might also go through a hard time in returning the borrowed money. It is always advisable to trade on your own money and trade whatever you can afford to lose.
 

sharabela

Master Trader
Oct 19, 2016
125
7
54
43
Do you think newbies borrow money for initial trading?
Is it only newbies or almost all traders who are addicted to it?
How about you? Have you experienced it too?
Trading should never be done on borrowed money. There is a suggestion from experienced traders " you must not invest money in the market that you cannot afford to lose". If we borrow money, we must give it back. If we lose it, then we will be in trouble. Thus, let us never borrow money to trade in the market.
 

Serenity

Banned
Feb 16, 2022
12
0
1
37
If you want to start trading then save up for it because even if you lose all your money, it won’t impact your life negatively. However, when you borrow money you are obliged to pay it back and losing it can land you in big trouble.
 

sunar14

Banned
Jan 17, 2021
77
8
19
28
I don't think that's the right idea.
You need to start trading only for your own money.
you can't if you don't have decent capital since returns will be tiny. You have to ensure enough % for your returns that's why you take risk which allows you to expect higher reward.
 

Lacquer

Banned
Dec 13, 2021
18
2
4
27
No, why would I borrow money for forex trading? If someone is borrowing money, then there is a good chance that the trader has lost his/her own money in it. Otherwise, it doesn’t make sense why a person would borrow money and put it at risk.
 

Resolve

Master Trader
Dec 7, 2013
749
8
54
you can't if you don't have decent capital since returns will be tiny. You have to ensure enough % for your returns that's why you take risk which allows you to expect higher reward.
We will need to understand the importance of using our own trading funds so that we are safe.