The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
Find below are the list of Successful Forex Traders In South Africa
Nelisiwe Masango
Nelisiwe Masango is a well-known name in many forex circles as a young entrepreneur and an award-winning forex trader.
She is the CEO and founder of Bear Run Investments, a training company that aims to help underprivileged communities access financial programs and packages that are both affordable
and that can stimulate and maintain financial growth.
Sandile Shezi
Sandile Shezi is one of the richest forex traders in South Africa in addition to being a strategically successful and sound forex trader. Sandile’s story has humble beginnings in a rural community while he was still attending school.
Instead of paying his tuition, he saved these funds and put them towards forex trading. His initial investment earned him a fair amount of profit, and he quickly became one of the best forex traders in South Africa.
Sandile Shezi is the owner of Global Forex Institute, where he aims to provide young South African entrepreneurs with fundamental knowledge and understanding of forex trading in South Africa.
Ref Wayne
Ref Wayne is considered the best and most successful trader in South Africa who has developed the necessary trading skills to conquer the financial markets.
Ref Wayne started trading from an extremely young age after struggling with a lack of career development opportunities. This encouraged him to throw himself into forex trading and it allowed him to become a multi-millionaire and to feature in the ranks alongside other successful South African traders.
Ref Wayne was only 22 years old when he achieved success and his endeavours led him down the cryptocurrency road as well. Ref Wayne created the first South African cryptocurrency namely Pip Coin.
George van der Riet
George van der Riet is a successful South African trader and one of Sandile Shezi’s top mentors. George van der Riet is a renowned forex trader who has years of experience in trading financial markets, using proven and solid trading strategies alongside risk management tools and protocols.
However, while George van der Riet faced a difficult time in his life where he was involved in crime and sentenced to jail in London, he returned to South Africa and quickly turned a small investment in TD Markets to make him a millionaire.
Jabulani Ngcobo
Also known as Jabulani “Cashflow” Ngcobo, Jabulani is a mature player in the forex market in South Africa and one of the earliest successful traders who made a name for himself in the financial markets.
Jabulani Ngcobo faced several controversies and was involved in dealings that sent him to jail for some time. Today, he is an active motivational speaker, and he manages CashFlow Pro that has helped many students achieve their goals in the forex market, amidst other financial markets.
Shaun Benjamin
Shaun Benjamin is another familiar name who became a millionaire at 21 years old. Shaun Benjamin was raised by his mother and faced many challenges growing up.
Shaun Benjamin started trading forex and found a steady income stream for himself. This allowed him to leave his full-time employment to pursue a professional career as a South African forex trader.
Shaun Benjamin went on to establish the Benjamin Forex Academy where he started teaching other young individuals about the forex market.
Simz D’ Mandla
Simz D’ Mandla is a multi-millionaire forex trader who traces his early life to Tembisa where he was born. Raised in Midrand, Gauteng, Simz D’ Mandla is another South African forex trader who saw potential in speculative forex exchange trading.
He established Trade4Africa.org and today, he is a forex analyst, active forex trader, wealth coach, motivational speaker, angel investor, business strategist, and one of the youngest self-made millionaires in South Africa.
Paballo Nkwe and Danielle Lester
Known as one of the most powerful forex trading duos in Africa, Paballo Nkwe and Danielle Lester are game-changers in the forex industry in South Africa.
Both started trading forex in their 20s and they work together to change the lives of many forex traders in rural settings. They are not only successful traders in South Africa, but they also pride themselves in being mentors.
Paballo Nkwe and Danielle Lester have an incubation program that allows them to visit women in universities across the country, teaching them the fundamental skills and knowledge that they need to help them develop financial intelligence that will allow them to gain financial freedom through forex trading.
Louis Tshakoane Junior
Louis Tshakoane Junior is one of the most successful individuals in South Africa and one of few who can trace his success to his teenage years. Louis Tshakoane started his first business, Botho Gym when he was a teenager with help from Sir Richard Branson.
The gym was started to give back to the Tembisa community and to help other youngsters stay away from crime, drugs, and alcohol abuse.
Louis Tshakoane has an impressive job profile, and he has experience in working for UBS and Lamborghini, establishing networks that would later help him in his endeavours.
Do forex traders pay tax in SA?
Is Forex trading taxable in South Africa? Yes, it is. Any profits you make with Forex trading are taxable, just like your regular income, which means you have to file a Personal Income Tax form. The tax rate can range from 18% to 40% and it depends on the profits you’ve made.
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.
Who is the forex king in South Africa?
Jason is one of the wealthiest forex traders in South Africa. He is the owner of Forex Kings, a company that deals in forex trading education, mentorship, and forex signals. Jason Noah story of becoming South Africa’s greatest forex trader is an inspiring one.
How much do forex traders make per month in South Africa?
The median income for South Africa is approximately 45 000 ZAR per month, lots of people earn more than this and most earn less, but this is a good starting point to assess how much you’d need to invest in yourself to trade forex full time.
Who is the richest Forex trader in SA?
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 of Cashflow Naked, a biography and a lesson of financial education. Jabulani Ngcobo net worth is estimated at $2.4 billion.