Hello!Good idea. At least there must be a way to support new market participants on they trading journey. Have you heard of BluFX? It is a broker that does exactly what you think. It is a broker that supports you financially just as they expose you to the forex markert. You are not given a loan that you have to pay back, but you subscribe monthly for a funded account. All you do is pay a monthly fee the first time you want to subscribe and you are given a funded account to begin trading and for your next subscription, you can pay from your profits. It's that simple! The monthly fees depend on the account size you want, and believe it, the fees are fair. The smallest account size starts from $25k. Sounds good to be true? Go see your self! (BluFX)
There are a few companies which kinda do this. but you have to pay an upfront fee and pass their evaluation.. then they will give you money to trade with a profit split. As you make money for them, they increase the amount. The one I used was called the 5'ers - https://the5ers.com/
Note, i don't have any affiliation to them
Note, i don't have any affiliation to them
Attila the trader
Active member
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isn't leverage a loan of some sort ?
In general terms, new traders are losing traders. Most of them lose heavily and quickly and get wiped out before ever understanding why.
Any trader who needs to borrow money because they're losing money trading has the wrong solution to the problem. The solution is better trading, not more money.
Any trader who needs to borrow money because they're losing money trading has the wrong solution to the problem. The solution is better trading, not more money.
Launcecarawell
Newbie
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Instead, you could start trading with a mere 100 USD and use leverage.
An alternative to borrowing money to increase your available capital is to lend money.
Lend money to traders under an agreement that they pay you a percentage of the profits plus the original loan.
Obviously they will trade using the strategy that you have which you would be trading if only you had more money...........
Lend money to traders under an agreement that they pay you a percentage of the profits plus the original loan.
Obviously they will trade using the strategy that you have which you would be trading if only you had more money...........
A covid bounce back loan was covering up to £50,000 with no interest or fees for a year. The insane thing about the loans it required absolutely no means test, no documentation ie balance sheet, cash flow forecasts etc even bank statements
by far the easiest way to get 50k. I'm not entirely certain if banks are still doing this, but if money is what you're after then it doesn't get easier than this
by far the easiest way to get 50k. I'm not entirely certain if banks are still doing this, but if money is what you're after then it doesn't get easier than this
Trader H.C.
Junior member
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One of the biggest reasons traders fail is because they are having the wrong expectations.
You shouldn't be trading too much when you're starting out. And borrowing money to trade is considered too much.
Why Most Traders Fail to Make Money
You shouldn't be trading too much when you're starting out. And borrowing money to trade is considered too much.
Why Most Traders Fail to Make Money
KISvalue
Junior member
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I don't think it is a good idea. Have u heard of the relevance of emotional discipline in trading? If u try to trade using borrowed money, if u suffer a lose , the concern of repayment will put u in a bad state of mind, desperate to make it back & u could lose all
WalletInvestor
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I don't think it is a good idea either... I see why you would feel the need to do this, it is very hard to start trading if you don't have enough capital to start with. But risking borrowed money can end up really badly.
The only asset where this seems to work well is investing in real estate, then renting it out and paying the mortgage like that, but that is quite different from trading.
The only asset where this seems to work well is investing in real estate, then renting it out and paying the mortgage like that, but that is quite different from trading.
bandit228
Newbie
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Terrible idea ... How could you think of this ?? You should make money trading, not invest in it. It is very risky to take out a loan in order to start trading, especially for a beginner. I am sure that many companies will refuse a loan after learning about the reason, since it is very unreliable for them. It is not known if the young trader will be able to pay off. Perhaps he will not even like to do this and he will quickly give up this venture. It is better to have a base capital, at least small, so that you can start safely. Fortunately, now even your smartphone can make money. If you do not know how to make money on the Internet, then read this article https://iliketodabble.com/best-selling-apps. Although it seems to me for advanced users it will be useless. This is most likely for beginners.
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Yes, I agree.
NVP
Guest Author
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not recommended .......trust me ...
Not sure I see this as a good plan. I am not sure who would loan a new trader any funds. I would have said this would only be available for highly experienced traders with a proven track record. I would give yourself more time and build up from a low balance. That way you keep all of your own profits.
