The 10 richest forex traders in the world have amassed huge fortunes. But what can the everyday trader learn from these top performers? To answer that question, we’ll look at the richest forex traders in 2023 from across the world, including the USA, UK, and South Africa.
Who Are The Richest Forex Traders?
George Soros
Born in Hungary in 1952, George Soros began trading while at school.He developed a strategy of taking highly-leveraged positions based on movements in currency rates, and in 1992 that strategy paid off, becoming the ‘man who broke the Bank of England’.
His huge short position against the British Pound during the Black Wednesday crisis correctly predicted several factors that would leave the Bank of England vulnerable, should it have to intervene if the pound weakened beyond a certain level against the Deutsche Mark.
The trade earned him over $1 billion. He’s since accumulated a net worth in the region of $8 billion, making him one of the richest forex traders of all time.
Joe Lewis
Born in the UK, Joe Lewis began work at 15, helping to run the family catering business.
Several years later, Joe Lewis sold his business to start currency trading, which proved to be a sensible decision. He collaborated with George Soros in 1992 to bet against the British Pound and took home an impressive $1.8 billion for his part in the trade. Today, Joe Lewis is worth close to $5 billion.
Paul Tudor Jones
After graduating with a degree in Economics from the University of Virginia in 1976, Paul Jones turned down Harvard Business School to work as a commodities trader, a decision that proved fruitful when he shorted the 1987 market crash, making north of $100 million. He has since founded the Tudor Investment Corporation, focusing on interest rate fluctuations in the currency market. Additionally, he was the Chairman of the NYSE from 1992 to 1995. Today, Paul Tudor Jones is one of the richest forex traders in the world, with an estimated net worth of $4.5 billion.
Stanley Druckenmiller
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.
Stanley was born in Pennsylvania, received a BA in English and Economics, and went on to work as an oil analyst for Pittsburg National Bank. Just a year after starting, he set up his own firm – Duquesne Capital Management.
He is now worth upwards of $2 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.
Bill Lipschutz
Bill Lipschutz is one of the richest forex traders in America, making hundreds of millions of dollars in the 1980s trading at Salomon Brothers. But his passion for trading began years before at university, where he invested $12,000 in inheritance from his grandmother. Now his total earnings sit close to $2 billion.
For aspiring investors, his advice is simple – focus on your losses, as they will determine overall success.
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.
Who Are The Richest Forex Traders In Africa?
Some of the richest forex traders are from South Africa. Not satisfied with average returns, these often young but top investors have earned their spot on our top 10 trader list.
Ref Wayne
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. Ref has proven he can navigate the online investing world and identify opportunities in the $5 trillion a day currency market.
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.
Neliswe Masango
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.
Sandile Shezi
Also on the list of the richest retail forex trading millionaires in South Africa is Sandile Shezi.
He began investing at the young age of 12 and became one of the country’s youngest FX millionaires. Today, Sandile Shezi’s net worth is upwards of $2.4 million.
Since achieving his fortune, Sandile has established the Global Forex Institute, which provides free financial training to young people from low-income families.
Uche ParaGon
Although South Africa has produced many of the world’s richest currency millionaires, some of the top FX traders come from other regions of Africa, including Nigeria, Zambia, Ghana, Uganda, and Kenya. One of these traders is Nigerian Uche ParaGon, who has achieved financial success by trading currencies and commodities.
In 2019, ParaGon had a net worth of nearly $16 million. He attributes his success, in part, to his dedication to learning the markets and mastering strategies before applying them to real-money investing. For advice on how to maximize the benefits of a demo account, visit here.
Bade Ajidahun Afioluwa
Another Nigerian currency trader who has achieved significant success, Bade spent years refining his strategy, minimizing losses, and reducing his risk exposure.
Bade Ajidahun Afioluwa is a successful forex trader who retired from active currency investing at the age of 28, after consistently earning six-figure profits. He now spends his time mentoring aspiring traders through seminars and online training programmes, giving back to the Nigerian community where he grew up.
The Bottom Line
While many of the world’s richest forex traders have earned millions, if not billions, from the global currency market, their success is not solely motivated by money. Rather, they take a pragmatic approach, utilizing risk management tools, technical analysis, and setting long-term objectives. It’s worth noting that individuals from Canada, Singapore, and Tanzania, among others, have also produced some of the world’s richest forex traders.
Frequently Asked Questions
Who is the richest forex trader?
The title of the world’s richest forex trader is often attributed to George Soros.