Updated: Jan 24
Who is the best forex traders in the forex industry? Are you curious about the top 10 richest forex traders in the world? They have huge fortunes in the trading industry. Still, there is no profit-making activity that doesn’t require effort, skills, and dedication. In the following article, you’ll discover who the richest forex traders in the world are – the ones who overcame failures and became role models.
George Soros is the richest forex trader in the world and the top of this list. He was born in Hungary and began trading while at a young age.
Soros is a hedge fund manager and philanthropist. While he doesn’t invest in currency pairs alone, the foreign exchange market has played a key role in his career. He started by building his own hedge fund in 1969, after several years of trading European stocks for clients in New York. Today we call it the Quantum Fund.
Soros is infamous as the man who broke the Bank of England. In September 1992, he built an enormous short position in pounds, effectively betting against the British currency. He ended up with more than $1 billion in net profits. Generating such a fortune in a single day was unprecedented.
Today, people estimate his net worth at $8.3 billion. As of 2020, Soros ranks 162nd on the Forbes is t of richest individuals. The figure is still impressive considering that he transferred about $20 billion to his Open Society Foundations for philanthropy.
Joe Lewis was born in the UK and started working when he was 15 years old, helping to run a family catering business. A few years later, he sold the company and started trading in the forex market.
A wise decision, because he worked with George Soros to bet on the British pound in 1992, and he participated in the transaction and received an impressive $1.8 billion. Today, his worth is close to 5 billion U.S. dollars.
Paul Tudor Jones
In 1976, after graduating from the University of Virginia Jones asked his cousin William Dunavant Jr. for an introduction to trading. Dunavant was the CEO of Dunavant Enterprises, one of the world's largest cotton merchants.
A decision that proved fruitful when he shorted the 1987 market crash, making north of $100 million.
He’s since founded the Tudor Investment Corporation, focussing on interest rate fluctuations in the currency market. He was also Chairman of the NYSE from 1992 to 1995. Today he’s one of the richest forex traders in the world with an estimated net worth of $4.5 billion.
Stanley Druckenmiller is another name of our wealthiest forex traders list linked to George Soros. He spent over a decade managing money for Soros and was the lead portfolio manager of the Quantum Fund.
He made it big as a hedge fund manager for 30 years. He now manages his money through a family office. He shut down his $12 billion hedge fund Duquesne Capital Management in August 2010, returning funds to clients.
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 is one of the richest forex traders in America, making hundreds of millions of dollars in the 1980s trading. Bill began his career at Salomon Brothers in 1982 as one of the original members of the newly formed Foreign Exchange Department. 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. 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.
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. For guidance on how to get the most out of a demo account, see here.
Affluent Entrepreneur and Forex Trading Guru is an inspiration to millions of young adults around the World.
FX trader from South Africa, 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.
The first black female owner of a fully regulated stock brokerage firm. 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 is among the youngest and yet most successful minds in South Africa. He began investing at just 12 and was one of the country’s youngest FX millionaires. Today he’s worth upwards of $2.4 million.
Since finding fortune, Sandile has set up the Global Forex Institute, which offers free financial training to young people from low-income families.
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 Paragon, who has made a successful living from trading currencies and commodities.
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.
Bade Ajidahun Afioluwa
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.
Bade now focuses his time on mentoring aspiring traders through seminars and online training programmes, giving back to the Nigerian community he grew up in.
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 their strategies. Instead, they take a pragmatic approach, utilising risk management tools, technical analysis and setting long-term objectives.
Who is the richest forex trader?
The trader with the title of "richest forex trader" in the world is George Soros. He is known for "breaking the Bank of England" in 1992, and his short pound position netted him more than $1 billion and led to the Black Wednesday crisis. Today, George Soros’s net worth is believed to exceed $8 billion.
How much do top forex traders make?
op foreign exchange traders can earn millions of dollars from the currency market, and some can even earn billions of dollars. However, it is worth noting that these are the best performers and do not reflect the returns of most online traders.
Can forex trading make you a millionaire?
Yes-Forex trading can make you a millionaire. However, to get the most profit and survive in the market in a long run, you need effective strategies, excellent risk management tools, and one of the best online brokers.
What percentage of forex traders make money?
t is believed that only 10% to 15% of foreign exchange traders have been making money. Many traders may generate high profits, but maintaining these returns without incurring major losses is another game.
What do you need to get rich forex trading?
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*Risk Disclaimer: Forex trading carries high risk. Past performance is not necessarily indicative of future results.