Ref has proven he can navigate the online investing world and identify opportunities in the $5 trillion a day currency market. Top forex traders can make millions from the currency market with some even making billions. However, it’s worth noting these are the very top performers and do not reflect the returns of most online traders. He’s since founded the Tudor Investment Corporation, focussing on interest rate fluctuations in the currency market. Today he’s one of the richest forex traders in the world with an estimated net worth of $8 billion. However, to earn top profits, you’ll need an effective strategy, excellent risk management tools, and one of the best online brokers.

Moreover, Bill Lipschutz famously said that the top traders are those that work out how to make money when only being right 20 to 30 percent of the time. He is now worth upwards of $6 billion despite donating over $700 million to medical research and efforts to combat poverty. He’s also imparted useful advice for FX traders – keep an eye on central banks as it’s liquidity that moves markets. The trader credited with the world’s ‘richest forex trader’ title is George Soros. Famous for ‘breaking the Bank of England’ in 1992, his short position against the pound netted him over $1 billion and led to the Black Wednesday crisis.

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• Moreover, Bill Lipschutz famously said that the top traders are those that work out how to make money when only being right 20 to 30 percent of the time.
• Today George Soros’ net worth is thought to be upwards of $8 billion.
• South African FX trader Ref Wayne began investing as a teenager after dropping out of school.

Many traders may generate high profits, https://africa-gold-capital.org/ but holding onto those returns without sustaining significant losses is another ball game. Another Nigerian currency trader that’s made it big, Bade spent years honing his strategy, minimising losses and reducing his risk exposure. By 28 he was bringing in consistent six-figure profits and chose to retire from active currency investing. Ref Wayne now sits comfortably on any list of the top 5 richest forex traders in South Africa, with an estimated net worth of around $500 million. The 10 richest forex traders in the world have amassed huge fortunes. But what can the everyday trader learn from these top performers?

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To answer that question, we’ll look at the richest forex traders in 2024 from across the world, including the USA, UK, and South Africa. Note, that while not quite making this list, individuals from Canada, Singapore, and Tanzania, among others, have also produced some of the world’s richest forex traders. South Africa has produced many of the richest currency millionaires. However, some of the top FX traders come from other parts of Africa, including Nigeria, Zambia, Ghana, Uganda, and Kenya. Among those is Nigerian trader Uche https://www.cfainstitute.org/en/programs/cfa/charterholder-careers/roles/forex-trader Paragon, who has made a successful living from trading currencies and commodities. For aspiring investors, his advice is simple – focus on your losses, as they will determine overall success.

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Today George Soros’ net worth is thought to be upwards of $8 billion. In 2019, ParaGon had a net worth of close to $16 million. He believes his success comes in part, from his commitment to learning the markets and mastering strategies before applying them to real-money investing. For guidance on how to get the most out of a demo account, see here.

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Despite dreams of becoming a neurosurgeon, Neliswe instead forged her path in the foreign exchange market. Her impressive work ethic and market aptitude have led to her becoming Director of Bear Run Investments. Neliswe is now one of the coveted South African currency trading millionaires. Born in the UK, Joe Lewis began work at 15, helping to run the family catering business. Several years later, he sold the business to start currency trading. Join over 10,000 people and receive our latest interior news, exclusive offers and amazing competitions.

DayTrading.com may receive compensation from the brands or services mentioned on this website. Stanley Druckenmiller is another name on our richest forex trader list linked to George Soros. He spent over a decade managing money for Soros and was the lead portfolio manager of the Quantum Fund. A sensible decision, given that he collaborated with George Soros to bet against the British Pound in 1992, and for his part in the trade, took home an impressive $1.8 billion. Born in Hungary in 1952, George Soros began trading while at school.

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The richest forex traders in the world have earned millions, if not billions from the global currency market. However, most of those featuring in top 10 lists aren’t motivated purely by being among the top 5, 10, or 20 richest forex traders of all time. Short-term profits and huge risks don’t feature in https://en.wikipedia.org/wiki/Foreign_exchange_company their strategies. Instead, they take a pragmatic approach, utilising risk management tools, technical analysis and setting long-term objectives. South African FX trader Ref Wayne began investing as a teenager after dropping out of school. By 19, he’d already become one of South Africa’s richest forex trading millionaires.

Since finding fortune, Sandile has set up the Global Forex Institute, which offers free financial training to young people from low-income families. A decision that proved fruitful when he shorted the 1987 market crash, making north of $100 million. Get our products new arrivals, promotions & special offers by an email notification or sms. Online prices and selection generally match our standard price structure, but may vary. Get the latest information on events and offers.Sign up to our newsletter today.