I believe it would depend on your location and any experience you may have with credit.
- | Joined Sep 2008 | Status: Lucky Man | 2,267 Posts
forget about tomorrow, just steal away into the night
Take a Loan to Trade? 114 replies
Who has ever tried to get a bank loan for trading? 57 replies
FXCM CEO Drew Niv speaks on the company’s results, Leucadia loan 0 replies
Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply
Dislikedthat would suicidal. picture this.
You have no full time job to provide income. Forex is your only income. you have to pay the bank loans say 50k and interest on top of that.
Taking worst case scenario into consideration as well, what happens when u blew all those 50k+interests?
For me.. that will be suicidal...
cheersIgnored
Dislikedhmm.. I think it would be risky to take a loan to trade. I personally feel that you should only trade money that you have and can afford to lose.
IshykielIgnored
DislikedPretty much sits near the top of the list for do nots in currency trading in my limited knowledge.Ignored
DislikedTrue, but the OP doesn't want to borrow money to trade and has said so several times. He just wants to know if the bank would consider trading income reliable enough to loan him money to buy a home/boat/car.Ignored
DislikedTrue, but the OP doesn't want to borrow money to trade and has said so several times. He just wants to know if the bank would consider trading income reliable enough to loan him money to buy a home/boat/car.Ignored
Dislikednever ever, under any circumstances borrow money to trade.NEVER EVER, you will end up ruined or in deep sh**Ignored
DislikedHave you tried to get a bank loan?
forex trading equals impulsive income, and that might be a issue.
The bank want document of income (steady) You can show them what you earned for a period back in time, but you never know what u will earn the next period...
Its interesting if someone have done that.Ignored
DislikedThere is nothing wrong with borrowing money to trade with (which he is not) if you know what you are doing. If things turn out bad then just go bankrupt and after a period of time start again. Countries do it all the time.
You cant be put in prison for owing money unless its the tax man.Ignored
DislikedJust curious, can we write off losses in the Fx market when tax season rolls around - after all forex trading is kind of an investment, isn't it? Anyone?Ignored
DislikedIs it just me that thinks that if you are already a 'successful' trader then why do you need to get a loan for a car/boat etc?Ignored