List of Successful Forex Traders in South Africa (officially the Republic of South Africa, RSA). As the demand for Online Forex Trading in South Africa is increasing, we’ve also seen the rise of currency traders. Some of these FX Traders have worked very hard to make it to the list of the most successful Forex Traders in South Africa. The purpose of this article is to reveal to the SA citizens who are these traders with their successful stories.
What is a Forex Trader (Currency Trader)?
A Forex Trader, also known as a currency trader or foreign exchange trader, is a person who trades. They buy and/or sell currencies online on the foreign exchange market. Whether you are new to Forex or you are a seasoned trader on the currency markets, you are called a currency trader. Forex traders also include professionals who are employed by the banks, or financial firms or groups to trade on their behalf.
How Do I Become More Successful at Trading Forex in South Africa?
There are many popular Forex traders in South Africa who became highly successful. As we delve into the successful stories of these traders, you will realize that you too can become part of list of successful Forex Traders in South Africa.
One of the ways to improve your trading skills is to learn by example. Successful forex traders such as Sandile Shezi first found out who is the greatest forex trader in South Africa. This article will show you who is the best Forex Trader and how they became successful. The most successful currency traders in SA have something in common and those are some of the qualities that helped them make more profits.
Most of these richest Forex traders in South Africa use forex trading strategies and educational material. Some of these can also be found online for free. These will help you improve your trading performance.
As you browse through the internet, you will come across many free online trading courses available to traders. According to research by different CFD and Forex firms, they indicate that it’s uncommon for individuals to become extremely successful traders. This is because most people stop trading once they start losing money, whereas top traders continue with Forex trading. We have a huge number of unsuccessful traders in South Africa and around the world, mostly because of the effect of market spread.
Below are some of the things most famous traders have in common:
- Risk Control
- Know the markets
- Trading strategy
List of Most successful forex traders in South Africa
This is the list of successful Forex traders in South Africa. Their successful trading stories will inspire you to join FX trading South Africa.
Ref Wayne, whose real name is Refiloe Nkele is a 25-year-old self-made millionaire from South Africa. He is one of the best FX traders in the country. Ref Wayne became a multimillionaire at age of 22. Ref Wayne is the founder of AFI (African Forex Institute) as well as the man behind the AMG (Armageddon System) and Pipcoin founder which is Africa’s first digital currency.
Sandile Shezi is a twenty-six-year-old Forex Trader who became South Africa’s youngest self-made millionaire at 23. Thanks to Forex trading, he is now one of the richest Forex traders in SA, dominates the list of best traders in South Africa. Shezi is originally from Durban, Umlazi and he is the founder and CEO of Global Forex Institute. He is also the CEO of iTradeFXLive.
George Van Der Riet
George Van Der Riet is one of the most successful forex traders in SA. The FX trader was born and raised in Cape Town, South Africa. According to his LinkedIn profile, George started Global Forex Institute Company with Sandile Shezi. The successful trader who ended up being responsible for digital marketing strategies and campaigns, initially started as Head of the Financial Trading department. Currently, Van Der Riet is the head trader and director but busy developing Interbank brokerage solutions.
Nelisiwe Masango is a 27-year-old award-winning entrepreneur who is the director of Bear Run Investments, a Forex trading company. Today Nelisiwe is one of South Africa’s successful entrepreneurs. In 2017 Nelisiwe Masango received an award the Frost & Sullivan African Growth Innovation & Leadership Award alongside founder and CEO of Discovery, Adrian Gore. Today she is one of richest Forex traders in South Africa.
Paballo Nkwe and Danielle Lester
Paballo Nkwe and Danielle Lester are successful female duo taking the foreign exchange world to the next level in this male-dominated industry. Paballo Nkwe and Danielle Lester are both the owners of iSelect Wealth. They train companies, SA Forex Traders and start-ups on how to trade in stock markets in South Africa and around the world, in the name wealth creation, empowerment and independence. Today, these two are part of successful Forex traders group in SA and living their best lifestyle.
How to Become a Forex Currency Trader
The below are three ways to trade foreign currency exchange rates:
- On an exchange regulated by the Financial Sector Conduct Authority (FSCA)
- On an exchange regulated by the The Financial Services Board (FSB)
- In the off-market exchange (also known as over-the-counter trades)
- Additional regulators include ASIC, IFSC and CySEC
Once you have decided where you want to trade, the next step is to open a brokerage account. Most stockbrokers in South Africa also offer Forex trading. You can start trading forex if you already have a brokerage account. Usually, the broker will ask you to complete a short online currency-trading application. If you are registering a new forex account, you will start by making a small deposit.
After opening your Forex account, you can start trading by choosing the currencies you wish to trade. You can trade the most traded forex pairs in the world such as the below:
- USD/JPY (US dollar/Japanese yen)
- EUR/USD (euro/US dollar)
- GBP/USD (British pound/US dollar)
- USD/CNY (US dollar/Chinese renminbi)
- USD/CAD (US dollar/Canadian dollar)
- USD/HKD (US dollar/Hong Kong dollar)
- USD/KRW (US dollar/South Korean won)
- USD/CHF (US dollar/Swiss franc)
- EUR/GBP (euro/British pound sterling)
- AUD/USD (Australian dollar/US dollar)
Currencies on the foreign exchange market always come in pairs, called “currency pairs”. You use one currency to buy another currency. To learn more about Forex, we’ve also written a guide about “What is Forex Trading and How does it Work“, we advice you to check it out.
How Successful is a Successful Forex Trader in SA?
The biggest Forex successful traders that we’ve looked at include Sandile Shezi, Ref Wayne, George Van Der Riet, Nelisiwe Masango, Paballo Nkwe and Danielle Lester, Louis Tshakoane Junior and Simz D’ Mandla. However, there are many more successful forex traders to follow in Mzansi. You too can also join the list of traders who are consistent in making profit every month trading FX.
Contributing writer at Quick Read Magazine. Loves reading books. Passionate in exploring and cooking local cuisines. Enthusiastic as an amateur cricket player.