Who Is the Richest Forex Trader in South Africa
Forex trading is a very risky business everywhere, South Africa included, and while Forex trading is not a successful path for everyone, anyone can reach success in it.
These are the stories of the South African successful forex traders that have seen great accomplishments in trading.
9 Most Succesful Forex Traders in South Africa:
✔️George Van Der Riet
✔️Ref Wayne
✔️Jabulani Ngcobo
Louis Tshakoane
Simz D' Mandla
Louis Tshakoane Junior
Shaun Benjamin
Nelisiwe Masango
Paballo Nkwe and Danielle Lester
George Van Der Riet
The success story of George Van Der Riet steadily learned about the market before making his first investments. George Van Der Riet was born and raised in Cape Town and furthered his studies in Manchester where he studied Finances. Through his years spent in the United Kingdom, he worked in financial institutes such as banks and the Forex industry, and it is these experiences that helped George Riet to become a successful professional in the forex industry.
Currently, George Van Der Riet is leading the Global Forex Institute together with Sandile Shezi and they both aim to help young people in South Africa to get more knowledge about the financial markets.
Ref Wayne
Ref Wayne is the best and most successful Forex trader in South Africa. Ref Wayne has developed the trading skills that he could transfer into the business after he was suffering from a lack of career development opportunities growing up. This became his main driving force to put a lot of effort into trading and he became a multimillionaire, joining the ranks of top 10 forex traders in South Africa, when he was only 22 years old.
Ref Wayne has created the first South African cryptocurrency named Pip Coin and is an entrepreneur that puts a lot into providing proper financial education to the South African population. Ref Wayne has created the African Forex Institute and released some free Forex lessons for the community.
Jabulani Ngcobo
Jabulani Ngcobo was born in 1985 is currently one of the richest Forex traders in South Africa to date. Jabulani Ngcobo is a self-made millionaire and the author ofCashflow Naked , a biography and a lesson of financial education.
Jabulani Ngcobo net worth is estimated at $2.4 billion.
Louis Tshakoane
Louis Tshakoane is a young millionaire based in South Africa and the founder and president of Undercover Millionaire's Currency. Louis Tshakoane's goal was to create a network base for business people to communicate ideas and strategies, giving backto the community.
World-renowned Prophetic Forex Trader Louis Jr Tshakoane has officially crossed R2+ Million in revenue and sales from his latest book Forex Millionaire in 365 Days by God's Grace. The book has sold well thanks to his massive loyal African following gathered over the past 5 years and has 2000+ pre-ordered and copies sold online.
Louis Tshakoane has over 1 million social media followers on Facebook and Instagram and he has also started a free prophetic forex signals telegram channel with over 5000 subscribers, providing forex signals for free to those who can't afford to pay for the expensive premium signals on the market.
Simz D' Mandla
Simz D' Mandla is a Multi-Millionaire Forex Trader, Born in Tembisa and raised in Midrand, Gauteng. Simz is CEO & Founder of Trade4Africa.org and The African Millionaires Den alongside being a Serial Entrepreneur, Forex Analyst & active trader, a Wealth Coach, Motivational Speaker, Angel Investor, Business Strategist, Philanthropist and is one of South African's youngest Self-made multi-millionaires.
Simz D' Mandla made his first million at the age of 19/20.
His companies
Simz D'Mandla has founded Tade4Africa and The African Millionaires Den. Simz D' Mandla tries to reduce a gap in society through his companies. Social classes in society are accompanied by high rates of unemployment and as the population increases, more people can't find enough opportunities to grow financially. Through his companies, he instills a lot of knowledge and skill to help people trade forex.
Achievements and other projects
Simz D'Mandla not only ventures into forex trading but also works as a motivational speaker organizing classes to help young entrepreneurs gain trading forex. Simz D'Mandla also provides education regarding how to invest in different kinds of businesses.
Louis Tshakoane Junior
Louis Tshakoane Junior is one of the famous rich kids in South Africa and is a 30-year-old millionaire who started his first business when he was a teenager. Louis Tshakoane Junior' first business was Botho Gym, based in Tembisa with the assistance of Sir Richard Branson. Louis started the gymnasium to give back to and help the youth by keeping them away from crime and drug and substance abuse.
Louis Tshakoane Junior has worked for a few high-profile companies, including UBS and Lamborghini and has established networks that would assist him in his future endeavors. Louis Tshakoane Junior has also worked for two years as a missionary in his home country.
His new venture aimed to establish a network of business people who would interact to combine energies, wisdom, and ideas, and Undercover Millionaires is also focused on giving back to the community and changing the lives of people.
Undercover Millionaires gives youths a platform to showcase their ideas and supports them in the implementation process and he has previously hosted a free Forex seminar for students.
Shaun Benjamin
Shaun Benjamin has earned his first million Rand at 21 years of age and studied engineering after graduating from Newcastle High School back in 2012. Due to circumstances he was led to start trading FOREX, and he ended up quitting his job after raising enough funds to found the Benjamin Forex Academy.
23-year-old Shaun Benjamin is not only the founder and CEO of Benjamin Forex Academy but also the director of Benjamin Investment Group (Pty) Ltd, a qualified miner, property investor and entrepreneur.
He matriculated from Newcastle High School in 2012 and was accepted to study engineering, but had to abandon his studies because of a lack of finances.
Shaun Benjamin secured a leadership through Khethekile Mining in Newcastle, and obtained a National Certificate in underground coal blasting operations. He started trading Forex. Shaun Benjamin eventually quit his job when he had saved enough money, and founded Benjamin Forex Academy to teach others the skills he had acquired.
He was quoted as saying:
"Money doesn't buy happiness. Also, a person's upbringing and where they come from do not determine one's capabilities or where you will end up in life. One learns a lot more from making mistakes than not doing anything at all. We can use those mistakes as stepping stones to get our desired goals."
Benjamin Forex Academy is the only non-profit training center in South Africa, aiming to help others attain financial freedom and to curb unemployment.
He advises youngsters to remain positive and to think out of the box.
"Be innovative and solution-orientated, don't be afraid of being wrong and making mistakes. It won't be easy, but it will definitely be worth it."
Forex trading may remain a male-dominated industry, but, it does not mean that there are no successful females among SA forex traders. In fact, South Africa perhaps has some of the most daring female traders, many of who have managed to make it among the best traders in South Africa.
Nelisiwe Masango
Nelisiwe Masango is the director of the Forex trading company Bear Run Investments and has spearheaded three successful businesses in total. As a schoolgirl, Nelisiwe wanted to become a neurosurgeon but developed a love for finances and investments.
Nelisiwe Masango started learning entrepreneurial management, but soon started learning how to trade, and became very successful at it, becoming one of the top forex traders in South Africa.
Nelisiwe Masango established two business enterprises, "Female and Finances" which aims to promote financial awareness and security amongst the women in South Africa, and "Gentle Hands Agency" which is a recruitment agency to help the people who are suffering from the lack of job opportunities.
Paballo Nkwe and Danielle Lester
Paballo Nkwe and Danielle Lester is a powerful female duo and game-changers for the Forex industry in South Africa. Paballo Nkwe and Danielle Lester are both in their 20s and own a company together – iSelect Wealth.
Paballo Nkwe and Danielle Lester mentor individuals, start-ups, South Africa forex traders, and companies and have created models and platforms by using technologies and financial intelligence, and these platforms and models can be used by anyone.
Paballo Nkwe and Danielle Lester have an incubation program, where they visit women in South African Universities to teach them about finances and help them develop financial intelligence, and teach Forex trading and ways to make future investments.
What do these South African success stories teach traders?
If a trader looks closely, a pattern emerges in nearly all of them. They teach traders that Forex trading in South Africa, and arguably all over the world is about being prepared for the market. The skills you will need are:
- Patience
- Knowledge
- Risk-management
If traders have these three squared away, they will have a much higher chance of spotting an opportunity once it presents itself.
Forex trading in South Africa is on the rise
Thanks to these individuals Forex trading in South Africa has become quite popular and the development of the country had a massive impact as well. The industry is quickly growing around the African continent, and hundreds and thousands of people are going on the internet to try their hand at Forex trading in South Africa.
Can you get rich with FX trading in South Africa?
According to these success stories, there is a possibility to become rich by trading in Forex and it does not matter in which country they are based, what their background is or their education of the financial situation.
Although forex trading may seem complicated, the truth is that most people can get started with a new account in as little as a single afternoon.
- A firm grasp of the most commonly-used forex lingo will make a beginner's entry into the market much simpler.
- Choose the right broker.
- Analyze the world economy.
- Make that first trade!
Beginners do need to have a passion for trading!
The 10 Most Successful Traders Stories from across the globe will also give beginners some motivation when needed!
Some of the most successful traders to learn from are:
- Jesse Livermore: Synonymous with colossal gains and losses. He made a million dollars in 1929 and by 1934 he had lost all of it. One good example that confirms the huge risk involved in stock trading.
- George Soros:Gained the nickname "the man who broke the bank of England" when he made $1 billion profit from selling $10 billion worth of pounds. He is the chairman of Soros Fund Management.
- Richard Dennis:is a successful commodity trader based in Chicago and made an estimated $200 million over a period of ten years from market speculating.
- Paul Tudor Jones:became famous after during the market crash of 1987 for making a staggering $100 million from shorting stocks. He is the founder of Tudor Investment Corporation.
- William Delbert Gann:Is a developer of technical indicators like Gann Angels and the Square of 9 and was a trader who used market forecasting techniques based on astrology, geometry, and mathematics.
- Bill Lipschutz: turned a $12000 investment in the stock market to $25000 in a few months but lost it all. He then moved to forex where he has made over $300 million.
- John R. Taylor, Jr: Started as a political analyst for a chemical bank before becoming their forex analyst and is the owner of FX Concepts, which is a currency managing firm.
- Stanley Druckenmiller:Started as an oil analyst for the Pittsburgh National Bank and was a part of a deal while working at George Soros that raked in $1 billion.
- Andrew Krieger:Sold kiwi, a New Zealand currency at a price that was more than the total currency supply and got revenue of $300 million from the deal.
- Michael Marcus:Is one of the best professional forex traders in the world and during the presidency of Ronald Reagan, Marcus held positions of almost $300 million in German marks.
Best Forex Brokers in South Africa:
- com
- eToro
- easyMarkets
- FxPro
- FXTM
- FXCM
- Saxo Bank
Always keep in mind – Every trade is a battle and winning battles requires preparation.
"Every battle is won or lost before it's ever fought" – Sun Tzu
Forex trading is the means through which one currency is changed into another. Whentrading forex, traders are always trading a currency pair – selling one currency while simultaneously buying another.
Approximately $5 trillion worth of forex transactions takes place daily, an average of $220 billion per hour. The market is largely made up of institutions, corporations, governments, and currency speculators – speculation makes up roughly 90% of trading volume and a large majority of this is concentrated on the US dollar, euro, and yen.
Trading accounts in South Africa can be opened for as little as 5 USD (70 ZAR), but a recommended deposit is between 200 USD to 500 USD. A minimum 200 USD deposit is advised because your account balance will determine how much leverage you can use.
When it comes to Forex trading, there are many different opinions floating about. People have been called crazy, with the sentiments being – "you will lose all of your money", "it is designed in a way that the brokers are the only ones who are getting rich with it". Of course, there is always a chance that traders will make unsuccessful trades and lose money, but Forex trading is not the same as gambling. If a trader has enough knowledge, understand the market and can implement strategies, they can master the FX trading and become extremely successful.
Another myth about Forex is that traders need a lot of money to become successful with it. While there is some truth to this statement – traders do not have to start with a lot of money to become successful.
Forex trading in South Africa
South Africa is a great example when it comes to the popularity of Forex trading. The country itself is multinational and multilingual community and it represents one of the best places for traders to start and have a successful trading career.
The number of forex traders in SA is growing rapidly, and due to a high demand in the Forex trading industry, the government with its regulatory body – Financial Services Board (FSB) – is also trying to create a better environment and provide much-needed regulations, so that the money of the investors are protected and the market is developing steadily and fairly.
In pretty much every industry in this world, there are bound to be winners and losers and the Forex market has a small gap between success and failure. Often called the 'buffer zone' where pretty much 90% of modern traders reside. It's right between becoming incredibly rich or losing everything.
Many in South Africa find Forex trading very appealing due of the obvious reasons, as an additional source of income. Forex trading does not require much from the trader, all a trader needs to have is a computer, internet connection, devotion, an open mind and an ambition to succeed.
Frequently Asked Questions
How do I start forex trading?
- Familiarize yourself with the lingo
- Do your homework and choose the right broker.
- Learn as much as you can about the world economy.
- Make your first-ever trade.
Who are the most successful traders in South Africa?
Here is a list of the 10 Most successful Forex traders in South Africa
Is forex trading illegal?
No.
Can you become rich with forex trading?
It is possible, but it is also well-known that about 90-95% of traders lose money.
Who is the most successful forex trader in South Africa?
Ref Wayne.
Featured SA Shares Writer and Forex Analyst.
Who Is the Richest Forex Trader in South Africa
Source: https://sashares.co.za/successful-forex-traders/#:~:text=Jabulani%20Ngcobo%20was%20born%20in,is%20estimated%20at%20%242.4%20billion.
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