Learning from successful traders is the best way to become successful in the Forex trading business. Forex trading is a complex task and it requires theoretical knowledge and practical skills with serious risk management strategies and fully controlled trading psychology. Because of these reasons, we decided to list some of the best traders in South Africa to let newbies learn from their examples and achieve success in Forex markets. At the end of this article, we also provided several tips derived from millionaire FX traders’ success stories.
The best FX traders in South Africa
The list of South African Forex trading professionals must include these three millionaire traders who made astonishing returns and are now teaching others how to do the same.
The founder of African Forex Institute Ref Wayne is the number one trader on our list. He is also the author of the book called “The Art of Trading” and his place is well deserved on our list as he started his journey of trading Forex at a young age. He is a profitable trader and investor nowadays who is also known for his philanthropic deeds in South Africa. Learning from the best FX traders in South Africa is the only way to achieve success and his book is recommended for reading. Ref Wayne has a net worth of approximately 500 million dollars which is a serious achievement for any trader.
Jabulanmi is probably the most inspiring Forex trader as he is also a self-made millionaire who is the author of the book “Cashflow Naked”. His wealth got even bigger after he established a company called Cashflow Pro and started coaching traders. He deserves his place as one of the most successful South African currency traders with 2.5 billion dollars of net worth.
The 3rd place in our list goes to the youngest Forex millionaire trader Sandie Shezi. He started trading when he was 12 and reached astonishing returns in a few years and became a millionaire. Sandie may be not the number one trader in the world, but his success at an early age shows how much potential trading can have when done with passion and maximum focus. Sandie is hands down one of the top Forex trading influencers South Africa has to offer these days and inspires many young traders to become successful and learn how to trade properly.
Reading about South Africa Forex success stories above can inspire beginner African traders to become one of the most profitable traders in this region as examples are important for inspiring and teaching lessons. Inspiration is essential, but let’s list some of the traits every millionaire trader has.
Characteristics of the best Forex traders in South Africa
No matter the country or place in the world, successful traders share the same basic characteristics and skillset. Let’s discuss the most essential characteristics these traders have that make them millionaires.
Knowledge and expertise
Without first understanding the basics and workings of Forex markets it is impossible to achieve success. The best South African FX traders are also professionals with high-level expertise and skill set that they accumulated during their trading years.
Discipline and patience
In order to continue doing the trading business and always execute your trading strategy flawlessly, discipline and patience are the two most important skills. Patience is needed to await only proper trading setups and signals and not to overtrade or trade out of boring. Discipline helps traders always stay at optimum performance and maintain a clear mind.
Factors Contributing to Success in Forex Trading
For achieving Forex trading success South Africa can be a country you want to live in. The country has a well-established regulatory environment as the Forex markets and brokers are regulated by the Financial Sector Conduct Authority (FSCA) which oversees the currency markets and ensures its investors and traders are in a safe place. But the presence of a good regulator is just one side of the coin and there are several factors that contribute to Forex trading profitability that can not be missed.
Quality education and training
The best South African FX traders all have a good education and practical training that allowed them to achieve success and become millionaires. Forex is a complex business and requires maximum attention and focus not to miss something important. There are several good trading schools in South Africa that teach beginners how to trade turbulent Forex markets and newbies have to consider attempting one of these schools.
Effective risk management strategies
After gaining knowledge about FX markets it is important to develop a trading strategy and manage risk exposure. Risk management is the single most important aspect of Forex trading as it can define the success or failure of a trader. The main focus of every trader should be to stay in the Forex trading business for the long term and maintain trading capital. This can be achieved by properly monitoring and managing trading risks. Risking no more than 1-2% of your trading capital can save your trading career.
Consistency and discipline
South Africa successful FX traders are disciplined traders who strictly follow their trading rules and make millions of dollars. It is not possible to become profitable unless the trading rules are followed strictly and risk management is addressed consistently. Discipline is difficult to master and it explains why there are so few successful Forex traders out there. Trading psychology plays a key role in mastering the markets and establishing yourself as a professional trader.
FAQs about the most succesful Forex traders in South Africa
Who is South African billionaire Forex trader?
Jabulani Ngcobo is a billionaire Forex trader and educator from South Africa who comes from a disadvantaged background and still managed to achieve astonishing success. His example shows us that anyone can achieve success in Forex trading when enough attention and effort are put into it.
Who is best South African FX trader of all time?
With the number of successful Forex traders South Africa shines as a country of opportunities. Ref Wayne is the top 1 Forex trader nowadays when it comes to trading Forex markets successfully. Although his net worth is not as high as Jabulani Ngcobo, he is still the best Forex trader with a net worth of around 500 million dollars.
Who is youngest Forex millionaire in South Africa?
Sandile Shezi is the youngest millionaire in South Africa and he has founded the company called Global Forex Institute. He started learning and trading Forex markets when he was just 12 years old.