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Best Forex Traders In The World 2020 – 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 look at the richest Forex traders in 2023 across the world, including the USA, UK and South Africa.
Born in Hungary in 1952, George Soros started trading while still in school. He developed a strategy of taking highly leveraged positions based on movements in currency rates and that strategy paid off in 1992, ‘The Man Who Broke the Bank of England’.
Best Forex Traders In The World 2020
His massive short position against the British pound during the Black Wednesday crisis correctly predicted several factors that would weaken the Bank of England, which had to intervene if the pound weakened beyond a certain level against the Deutsche Mark.
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The business earned him $1 billion. Since then he has amassed a net worth in the region of $6.7 billion, making him one of the richest forex traders of all time.
Born in the UK, Jo Lewis started work at the age of 15, helping to run the family catering business. After several years, he sold the business to start currency trading.
He teamed up with George Soros to bet against the British pound in 1992, a sensational decision that took home an impressive $1.8 billion for his share of the trade. Today he is worth about $6 billion.
After graduating from the University of Virginia in 1976 with a degree in economics, Paul Jones turned down Harvard Business School, choosing instead to work as a commodities trader.
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, focusing on interest rate fluctuations in the currency market. He was also the chairman of the NYSE from 1992 to 1995. Today he is one of the richest forex traders in the world with a net worth of $8 billion.
Stanley Druckenmiller is another name on our list of richest forex traders linked to George Soros. He spent more than a decade managing money for Soros and was the principal portfolio manager of the Quantum Fund.
Stanley was born in Pennsylvania, earned a BA in English and Economics, and worked as an oil analyst for Pittsburgh National Bank. Just a year after starting, he founded his own firm –
He is now worth more than $6 billion, despite donating more than $700 million to medical research and efforts to fight poverty. He also offered useful advice to FX traders – keep an eye on central banks as liquidity moves markets.
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Bill Lipchutz is one of America’s richest forex traders, making hundreds of millions of dollars at Salomon Brothers in the 1980s. But his passion for business began years ago at university, where he invested $12,000 inherited from his grandmother. Now his total earnings are close to $2 billion.
For aspiring investors, his advice is simple – focus on your losses, which determine your overall success. Moreover, Bill Lipschutz said that top traders are those who work out how to make money if they are correct 20 to 30 percent of the time.
Some of the richest forex traders are from South Africa. Not content with average returns, these typically young but brilliant investors have earned their place on our Top 10 Trader list.
South African FX trader Ref Wayne started investing as a teenager after dropping out of school. By 19, he is already one of the richest forex trading millionaires in South Africa. Ref has proven that he can navigate the online investment world and spot opportunities in the $5 trillion a day currency market.
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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.
Despite his dreams of becoming a neurosurgeon, Neliswe forged his way in the foreign exchange market. His impressive work ethic and marketability led him to become a director
Sandile Shezi is also on the list of richest retail forex trading millionaires in South Africa. He started investing at just 12 and was one of the youngest FX millionaires in the country. Today he is worth more than $2.4 million.
South Africa has produced many wealthy currency millionaires. However, some of the top FX traders come from other parts of Africa, including Nigeria, Zambia, Ghana, Uganda and Kenya. Among them, Nigerian trader Uche Paragon, has made a successful living from trading currencies and commodities.
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In 2019, Paragon had a net worth of around $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.
Another Nigerian currency trader, a big one, Bade spent years honing his strategy, minimizing losses and reducing his risk exposure. By 28 he was bringing in steady six-figure profits and decided to retire from active currency investing.
Bade now focuses his time on mentoring aspiring traders through seminars and online training programs, giving back to the Nigerian community where he grew up.
The world’s richest forex traders have made millions from the global currency market. However, most of those featured in the top 10 lists are not entirely motivated by being in the top 5, 10, or 20 richest forex traders of all time. Short term gains and big risks are not seen in their strategies. Instead, they take a pragmatic approach, employing risk management tools, technical analysis and setting long-term objectives.
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Note, although this list does not quite make it, individuals from Canada, Singapore and Tanzania have also produced some of the richest Forex traders in the world, among others.
George Soros is a trader who is credited with the title of ‘Richest Forex Trader’ in the world. Famous for ‘breaking the Bank of England’ in 1992, his short position against the pound cost him more than $1 billion and led to the Black Wednesday crisis. Today George Soros net worth is thought to be more than $8 billion.
Top forex traders can earn millions and some even billions from the currency market. However, it is worth noting that these are very high performers and do not reflect the income of most online merchants.
Yes – Forex trading can make you a millionaire. However, to earn top profits, you need an effective strategy, the best risk management tools and one of the best online brokers.
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Only 10 and 15 percent of Forex traders are thought to make money consistently. Many traders can make huge profits, but holding on to those profits without sustaining significant losses is another ball game.
To get rich forex trading, you need several ingredients. First, you need a tried and tested technique. You also need capital to trade, risk management tools and a broker you can trust. The idea is to know exactly what you are getting into and how you can make the trade work properly. Working with a professional is a great option if you can, as it pushes the boundaries and takes things to the next level. But there were many cases where the forex market made people rich.
And here are some of the top 3 best forex traders in the world, examples of when that happens.
Bill Lipchutz made hundreds of millions of dollars in the FX division of Salomon Brothers in the 80s. He had no experience, but he favored the industry and he understood the perception of the market as he focused on pure fundamentals. He says it’s important to find out when you’re wrong, override your judgment and invest in the right time. They trade at any time of the day or night because it is a very flexible market. And he says market focus is critical if you want it to work adequately. On top of that, he says any business ideas should be well reasoned if you want the business to work properly and without any worries. Managing risk is important as you try to force out of your position, as it will be totally worth it in the end.
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Stanley Druckenmiller has a net worth of around $2 billion and he earned this money from investments. He has his own fund called Duquesne Capital and is considered by many to be one of the best investors in the entire world. Based on his ideas, the best thing you can do if you want long-term returns is to preserve capital and follow profits when the business is doing well. You don’t have to worry about right or wrong. If you invest in a company that you believe will succeed, then the rewards will be huge. He made millions of dollars for the business, which was great.
George Soros made over a billion pounds in 1992 from a low position before Black Wednesday. He did a great job anticipating certain things and worked hard to make it very helpful and convenient. It worked perfectly to the point where you have some amazing results
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