Been made personally bankrupt - can I still trade?

[fergusonp]

As the title suggests really, only trade very small amounts (<£1000pm capital), but want to continue to do so.

Use Plus500 at the minute, will they close my account if they search insolvency records? Or do they not look?

 

[highbury fx]

As the title suggests really, only trade very small amounts (<£1000pm capital), but want to continue to do so.

Use Plus500 at the minute, will they close my account if they search insolvency records? Or do they not look?

Hi

It won't be a problem unless you're asking your broker to provide you credit. If you're not then they won't care you've been bankrupt.

 

[dianajs]

Brokers generally don't care unless you actively owe them money. You losing your own money doesn't concern them.

 

[progix]

I guess none of the brokers are concerned about your current financial status, they do verify the traders' identity and allow them to start depositing and withdrawals.

 

[dianajs]

Brokers only care to verify your identity, they don't concern yourself with your financial state unless one is asking for credit, I assume.

 

[LeslyTarqTow]

If you are terrible with money, if you fear it or if you have no respect for it, you should not even consider trading because you won't succeed.

 

[NVP]

Brokers will happily take your money.....

 

[Joseph99]

If you are terrible with money, if you fear it or if you have no respect for it, you should not even consider trading because you won't succeed.

Fact.

 

[ConfusedInvestor]

As the title suggests really, only trade very small amounts (<£1000pm capital), but want to continue to do so.

Use Plus500 at the minute, will they close my account if they search insolvency records? Or do they not look?

Jeez, looks like what you did didn't work out for you....

my recommendation for continuing is to have a bankroll, as in, have a carefully separated amount/percentage of funds so that you can play this game and eat at the same time. Don't sacrifice immediate comforts for future money, a lot of people will tell you to do that but if you're having troubling providing for yourself then you won't be able to make rational decisions as easily.

 

[Joseph99]

I personally know people who are terrible about money, and about trading - as a distribution. And strangely enough - they manage to earn! Perhaps this is of course a matter of luck, but the fact itself ..

Was about to say that it is a matter of luck then!

 

[Joseph99]

Yes, the luck factor should never be forgotten!

Most important!