Richest Forex Traders
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 2024 from across the world, including the USA, UK, and South Africa.
The Best Forex Brokers For Trading
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 $6,7 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, he sold the business to start currency trading.
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. Today he’s worth close to $6 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, choosing instead to work as a commodities trader.
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 $8 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 $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.
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. 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.
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 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.
Uche ParaGon
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. For guidance on how to get the most out of a demo account, see here.
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.
Final Word
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.
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.
FAQ
Who is the richest forex trader?
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. Today George Soros’ net worth is thought to be upwards of $8 billion.
How much do top forex traders make?
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.
Can forex trading make you a millionaire?
Yes – forex trading can make you a millionaire. However, to earn top profits, you’ll need an effective strategy, excellent risk management tools, and one of the best online brokers.
What percentage of forex traders make money?
It’s thought between only 10 and 15 percent of forex traders consistently make money. Many traders may generate high profits, but holding onto those returns without sustaining significant losses is another ball game.
What do you need to get rich forex trading?
To get rich forex trading, you need several ingredients. Firstly, you need a tried and tested strategy. You also need capital to trade with, risk management tools, and a broker you can trust.