配资炒股为什么不合法：中文篇

配资炒股，指的是投资者通过借款的方式增加炒股资金，以期望获得更高的收益。然而，这种看似诱人的投资方式，在我国却是违法的。那么，配资炒股为什么不合法呢？

首先，配资炒股存在极大的风险性。投资者通过配资获得的资金，往往伴随着高额的利息和严格的还款条件。在股市波动较大的情况下，一旦投资者操作失误或市场行情不利，可能导致巨额亏损，甚至无法偿还配资款项，进而引发严重的财务问题。

其次，配资炒股容易滋生非法金融活动。一些不法分子利用配资炒股进行非法集资、诈骗等违法犯罪活动，严重扰乱金融秩序，损害投资者利益。这些行为不仅违反了国家法律法规，也威胁到了社会的稳定和安全。

再者，配资炒股可能加剧市场波动。大量的配资资金涌入股市，可能引发市场的过度投机和虚假繁荣，从而加剧市场的波动和风险。这不仅不利于股市的健康发展，也可能对整个金融系统造成冲击。

最后，配资炒股违反了金融监管的原则。金融监管旨在维护金融市场的稳定和公平，保护投资者的合法权益。而配资炒股作为一种高风险、高杠杆的投资方式，显然不符合金融监管的要求和原则。

综上所述，配资炒股因其风险性、非法性、市场波动性以及违反金融监管原则等多方面原因，被我国法律明确禁止。投资者应当选择合法、合规的投资方式，避免陷入配资炒股的陷阱。

Why Is Leveraged Stock Trading Illegal: English Version

Leveraged stock trading refers to investors borrowing funds to increase their trading capital in the stock market, hoping to achieve higher returns. However, this seemingly appealing investment method is illegal in China. So, why is leveraged stock trading illegal?

Firstly, leveraged stock trading poses significant risks. The funds obtained through leverage often come with high interest rates and strict repayment conditions. In the face of volatile stock markets, any operational mistakes or unfavorable market conditions can lead to huge losses, making it difficult for investors to repay the borrowed funds, potentially resulting in severe financial issues.

Secondly, leveraged stock trading can easily breed illegal financial activities. Some unscrupulous individuals use leveraged stock trading to carry out illegal fundraising, fraud, and other criminal activities, seriously disrupting financial order and harming investors' interests. These actions not only violate national laws and regulations but also threaten social stability and security.

Thirdly, leveraged stock trading can exacerbate market volatility. The influx of a large amount of leveraged funds into the stock market can lead to excessive speculation and false prosperity, thus intensifying market fluctuations and risks. This is not conducive to the healthy development of the stock market and may even have an impact on the entire financial system.

Lastly, leveraged stock trading violates the principles of financial regulation. Financial regulation aims to maintain the stability and fairness of financial markets and protect investors' legitimate rights and interests. However, leveraged stock trading, as a high-risk and high-leverage investment method, clearly does not meet the requirements and principles of financial regulation.

In conclusion, leveraged stock trading is explicitly prohibited by Chinese law due to its risks, illegality, potential to exacerbate market volatility, and violation of financial regulatory principles. Investors should choose legal and compliant investment methods and avoid falling into the trap of leveraged stock trading.