Register Day trading business

[SEC_MAN]

Hi Guys i need some advice. Can i register my trading business but trade only with my own cash.I dont need outside investors. After doing this will i qualify for bank loans/ finance like any other business assuming im making enough to qualify for loan/finance.

[kwagga]

Wow, that's a new one. Lending money for day trading. People have gambled away pensions on day trading, but trying to borrow money to do the same is raising the bar. Any financial institution willing to lend you money for this is sure to qualify for a Darwin award. Sorry to be so blunt, but the first rule of day trading is don't trade with money you don't have.(and willing to risk).

[SEC_MAN]

No,i dont need the money to trade. Eg, if i wanted vehicle finance will i be able to apply if i show that my trading business is making a profit?

[nala]

i doubt it

[Preston]

The nature of the business is very risky. You could get financing but it needs to be secured by some asset, also the interest rate will not be very favourable , taking into account the risk factor.

[CHATTYCHAT]

You will have to throw in all your assets and liabilities - and it is for the banker to decide.

[saash]

The bank needs the loan to be secured over a real asset - like a contract that guarantees a fixed income going forward. If all you have is a trading history, they will say that you can do whatever you like with the investments at any moment, they have no control - so they probably won't lend you the money I'm afraid.

[Preston]

A house is a real asset.