Best 8 Most Successful Forex Traders in South Africa revealed. What makes the YOUNGEST millionaire Successful with forex traders in South Africa?
These traders have perfected the art of trading forex and CFDs. Motivational and Educational – A must-read overview of the Most Successful Forex Traders in South Africato date with some upcoming traders to take note of.
Best Forex Traders in South Africa
| 👇 Traders Names | 📚Educational Resources | 🗄Data Sources | 📙Case Studies | 🤝Trading Strategies | 🎖Mentorship and Coaching | ☑️Disclaimer |
| 1. Sandile Shezi | Offers online courses and seminars on Forex trading through his Global Forex Institute | Uses real-time market data from reliable financial platforms | Provides case studies from his trading experiences and success stories of his students | Focuses on price action trading, risk management, and technical analysis | Provides one-on-one mentorship and group coaching sessions through his institute | Emphasizes the high risk of Forex trading and the need for responsible trading |
| 2. Ref Wayne | Offers educational materials, including books, videos, and courses on Forex trading and cryptocurrency | Sources data from various financial news sites and trading platforms | Shares success stories of students who have benefited from his teachings | Promotes the use of the "Armageddon" trading strategy and emphasizes the importance of continuous learning and adaptation | Offers mentorship through his organization, the African Forex Institute, and personalized coaching sessions | Warns about the volatility of financial markets and encourages traders to invest wisely |
| 3. George Van Der Riet | Provides trading courses and seminars, often in collaboration with other successful traders | Utilizes data from global financial markets and trading platforms | Uses real-life examples from his trading journey to illustrate key concepts | Specializes in technical analysis, risk management, and developing a disciplined trading mindset | Conducts mentorship programs and coaching sessions to help traders refine their strategies | Highlights the risks associated with Forex trading and advises traders to be well-informed before trading |
| 4. Jabulani Ngcobo | Offers financial education through seminars, workshops, and online courses | Sources information from various financial news websites and market analysis tools | Shares personal success stories and testimonials from his seminars | Focuses on long-term investment strategies, technical analysis, and building financial literacy | Provides mentorship and coaching through his organization, Cashflow Properties | Advises traders about the potential losses in trading and the importance of financial education |
| 5. Louis Tshakoane | Provides educational resources through his platform, Young Minds Investments, including workshops and online materials | Uses data from trusted financial sources and trading platforms | Highlights successful trades and investments as case studies | Emphasizes the use of innovative trading strategies, risk management, and continuous improvement | Offers mentorship programs aimed at young and aspiring traders | Stresses the importance of understanding the risks involved in Forex trading |
| 6. Nelisiwe Masango | Offers educational workshops, online courses, and seminars on Forex trading through Bear Run Investments | Relies on data from reputable financial platforms and market analysis tools | Shares stories of her own success and those of her students | Focuses on technical analysis, risk management, and empowering women in trading | Provides mentorship and coaching to aspiring traders, particularly women, through her investment company | Advises on the high-risk nature of Forex trading and the necessity of proper risk management |
| 7. Kgopotso Mmutlane | Offers educational content, including videos and courses on Forex trading through his platform, Forex Broker Killer | Uses data from various financial news sources and trading platforms | Shares personal trading experiences and those of his successful students | Specializes in technical analysis, trend following, and disciplined trading strategies | Provides mentorship and coaching through Forex Broker Killer, offering guidance to new and experienced traders | Emphasizes the risks and rewards of Forex trading and the importance of a disciplined approach |
| 8. Shaun Benjamin | Provides educational workshops, online courses, and seminars on Forex trading through Benjamin Forex Academy | Sources data from reliable financial news websites and trading platforms | Uses case studies from his own trading experiences and those of his successful students | Focuses on technical analysis, fundamental analysis, and developing a strategic trading plan | Offers mentorship and coaching through his academy, providing personalized support and guidance to traders | Highlights the potential risks in Forex trading and advises traders to be well-prepared |
8 Best Forex Traders in South Africa (2024)
- Sandile Shezi
- Ref Wayne
- George Van Der Riet
- Jabulani Ngcobo
- Louis Tshakoane
- Nelisiwe Masango
- Kgopotso Mmutlane
- Shaun Benjamin
10 Best Forex Brokers in South Africa for 2024
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#1
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$100
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#4
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#6
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#7
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#8
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#10
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#4
4.4/5
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4.0/5
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#8
4.8/5
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#9
4.5/5
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1. Sandile Shezi
Sandile Shezi is another renowned Forex trader andone of the youngest billionaires in South Africa. He has established the “Global Forex Institute,”a successful company that caters to the lower income bracket. Sandile Shezi is a well-known Forex trader from South Africa who became the youngest millionaire in the country because of trading.
Coming from a humble background, Shezi used his school fees to trade in Forex, a gamble that ultimately paid off. He is also the founder of the Global Forex Institute, which assists budding traders on the path to financial freedom.
Some may say that, due to his various deeds, he is one of South Africa’s proud sons regarding business aspirations. This man has turned into a lecturer and founded an academy where unfortunate/poor people are taught how to become millionaires through trading currencies online (forex). His rise represents what successful Forex trading is all about, whereas education and mentorship could lead one to financial success.
2. Ref Wayne
Ref Wayne is the best and most successful Forex trader in South Africa. He developed the trading skills he could transfer into the business after suffering from a lack of career development opportunities. This became his main driving force to put a lot of effort into trading, and he became a multimillionaire, joining the ranks of the top 10 forex traders in South Africa when he was only 22 years old.
Renowned for his accomplishments in the financial markets, Ref Wayne is a popular South African forex trader and entrepreneur. He commenced trading at an early age, and due to his success stories and market analysis insights, he gained fame early on.
Ref Wayne founded the African Forex Institute (AFI), where he shares his trading wisdom with others through books like ‘The Art of Trading.’ Moreover, he created Pipcoin, Africa’s first cryptocurrency, which showed how innovative finance could be.
His rise from rags to riches has made him an eminent personality in the Forex community who inspires many people, including young prospecting traders across South Africa and worldwide.
Ref Waynecreated the firstSouth African cryptocurrency, Pip Coin, and is an entrepreneur who has puta 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.
3. George Van Der Riet
George Van Der Riet is a prominent South African Forex trader and mentor known for his expertise and successful trading career. In finance and trading, George has built substantial experience and knowledge about forex, which he shares through various educational platforms.
He co-founded the Global Forex Institute to educate and empower aspirant traders with tools for success in Forex. Many traders have honed their skills under George’s mentorship, achieving financial independence along the way.
His contribution to education and accomplishments made him a respected figure among South African Forex community members. George Van Der Riet stands out as an accomplished South African Forex trader and a mentor whose mastery of trade is something remarkable.
Having worked in financial institutions for about forever, George is now one of those few who have made fortunes out of currencies. He became one of the founders of Global Forex Institute, which aims to enlighten and empower intending tappers by offering them everything they need to make it big on Forex markets.
As his mentees became financially independent individuals, they left behind paths indicating his success story. The South African FX enthusiast revered him because of his unwavering devotion to disseminating knowledge coupled with impressive trading skills. George Van Der Riet has emerged as a leading figure within the Forex community in South Africa through his commitment to propagating educational programs and exemplary trading records.
Currently, George Van Der Riet is leading the Global Forex InstitutewithSandile Shezi. Theyboth aim to help young people in South Africa gainmore knowledge about the financial markets.
4. Jabulani Ngcobo
Jabulani Ngcobo, popularly known as “Cashflow,” is a renowned entrepreneur and Forex trader from South Africa. He became popular due to his victories in the financial markets and the lavish lifestyle he posts on social media.
Jabulani is the founder and CEO of Cashflow Properties, a firm that deals with forex trading and learning about finances. Notwithstanding the controversies and legal battles surrounding his business practices, Jabulani remains one of the most recognized individuals in the South African trading community whose journey from rags to riches inspires many.
Beyond trading, his motivational speeches and mentorship programs aimed at empowering young traders and entrepreneurs.
Jabulani Ngcobo’snet worth is estimated at $2.4 billion.
5. Louis Jr. 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 back to 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 five years, and 2000+ pre-ordered copies have been sold online.
Louis Tshakoane has over 1 million social media followers on Facebook and Instagram. He has also started free prophetic forex signals Telegram channel with over 5000 subscribers, providing forex signals for free to those who can’t afford the expensive premium signals on the market.
Louis Tshakoane is a distinguished South African businessman, inspiring speaker, and Forex trader who has made a name for himself in the financial sector. He achieved great success while still very young, earning him a place among some of South Africa’s youngest millionaires.
Undercover Millionaire’s Currency—founded by Louis—is an educational platform that trains aspiring traders and entrepreneurs. Despite enduring several lawsuits and controversies surrounding his business activities, Louis inspires many people through sheer determination. Moreover, Louis does not only engage in trading; he is also involved in educating youngsters and advocating for financial literacy throughout the country.
6. Nelisiwe Masango
Nelisiwe Masango is the CEO of the Forex trading company Ubuntu Invest. In her younger years, She was planning on becoming a neurosurgeon, but she developed a love for finances and investment instead. Nelisiwe Masango has won multiple awards, including the prestigious Frost & Sullivan African Growth Innovation & Leadership Award, alongside the founder and CEO of Discovery, Adrian Gore.
Nelisiwi has made it her mission to help educate people about financial freedom and wealth generation.
Nelisiwe Masango is an eminent South African businessperson, Forex trader, and campaigner for understanding finances. As one of Bear Run Investments’ founders and directors, she has made great progress in Forex trading, which is traditionally male-dominated, attracting attention to her skills and accomplishments.
For that reason, Nelisiwe is determined to help people around her, especially women, through entrepreneurship and finance education. She holds workshops and seminars to teach trade tactics while promoting economic freedom. Many aspiring traders and entrepreneurs are motivated by her trajectory, which has seen her rise from nothing to being respected in finance.
7. Kgopotso Mmutlane
Kgopotso Mmutlane, also popularly known as “DJ Coach Tsekeleke,” is one of the youngest millionaires in South Africa.
He hails from Motodi village, situated near Burgersfort Town in Limpopo Province. One of his several titles is Chief Executive Officer and founder of Forex Broker Killer Institution, which specializes in Forex trading. In addition to being a serial entrepreneur, he is also a philanthropist and an author and, therefore, describes himself as such.
He became famous for his forex market achievements and mentorship abilities. Mmutlane has developed an image of a successful trader who uses social media and other platforms to harmonize his informative sessions with motivational talks, thus catering to flashy living styles.
As one travels from poverty to money in his life, it may have inspired unsuspecting people who want to be traders not just in South Africa but also abroad. Even though he has received several backlashes, Mmutlane fights for the example of financial education and believes that the world can achieve independence through currency trading.
8. Shaun Benjamin
Shaun Benjamin earned his first million Rand at 21 and studied engineering after graduating from Newcastle High School in 2012. Due to circ*mstances, he was led to start trading FOREX, and he quit his job after raising enough funds to found the Benjamin Forex Academy.
23-year-old Shaun Benjamin is the founder and CEO of Benjamin Forex Academy and theBenjamin Investment Group (Pty) Ltd director, a qualified miner, property investor, and entrepreneur.
He matriculated from Newcastle High School in 2012 and was accepted to study engineering, but he had to abandon his studies because of a lack of finances.
Shaun Benjamin secured leadership through Khethekile Mining in Newcastle and obtained a National Certificate in underground coal blasting operations. He then started trading Forex. When he had saved enough money, Shaun Benjamin eventually quit his job and founded Benjamin Forex Academy to teach others the skills he had acquired.
Benjamin Forex Academy is the only non-profit training center in South Africa. It aims to help others attain financial freedom and curb unemployment.
Challenges faced by South African traders
Here’s the table summarizing the challenges faced by South African traders:
| 📋Category | 📝Description |
| 📉Challenges Faced by South African Traders | Market Volatility: High market fluctuations can lead to significant losses. Access to Resources: Limited access to advanced trading tools and educational resources. Connectivity Issues: Internet connectivity problems can disrupt trading activities. Currency Fluctuations: Exchange rate volatility can affect trading profits. Economic Instability: Political and economic uncertainties in South Africa impact market stability. |
| 📈Regulatory Environment | FSCA (Financial Sector Conduct Authority): Regulates financial markets in South Africa to ensure fair trading practices. Compliance Requirements: Brokers must adhere to strict regulatory standards. Consumer Protection: Emphasis on protecting traders from fraudulent activities and ensuring transparent operations. |
| 📍Risk Warnings | High Risk: Forex trading involves significant risk of loss, and traders may lose more than their initial investment. Market Uncertainty: Unpredictable market movements can lead to rapid losses. Leverage Risks: High leverage can magnify both gains and losses. |
| 📌Psychological Aspects | Emotional Control: Managing emotions such as fear and greed is crucial for successful trading. Discipline: Maintaining a disciplined approach to trading strategies and risk management. Stress Management: High-pressure situations require effective stress management techniques. Patience: Patience is essential for waiting for the right trading opportunities and avoiding impulsive decisions. |
Forex trading strategies
There are many different forex trading strategies, but some of the most popular include:
- Trend trading: This strategy involves buying currencies in a strong uptrend and selling currencies in a strong downtrend.
- Range trading:This strategy involves buying and selling currencies within a certain price range.
- Carry trade:This strategy involves borrowing a low-yielding currency and investing it in a high-yielding currency.
Technical analysis
Technical analysis is a method of forecasting price movements based on chart patterns. Some of the most common technical indicators include:
- Moving averages: These are lines that show the average price of a currency over a certain period.
- Relative strength index (RSI) measures whether a currency is overbought or oversold.
- Bollinger Bands:These are bands that show the volatility of a currency.
Risk management
Risk management is essential for forex trading, as it can help you to protect your capital from losses. Some of the most important risk management techniques include:
- Using stop-loss orders:These are orders that automatically sell a currency if it reaches a certain price.
- Setting position sizes:This is the amount of money that you risk on each trade.
- Diversifying your portfolio: This means investing in various currencies to reduce your risk.
Psychology of trading
The psychology of trading is important for managing emotions and avoiding costly mistakes. Some of the most important psychological aspects of trading include:
- Discipline: Sticking to your trading plan and not letting your emotions get the better of you is important.
- Patience: It takes time to become a successful forex trader. Don’t expect to get rich quickly.
- Greed:Greed can lead to overtrading and making poor decisions.
Conclusion
Overall, the 8 Best Forex Traders in South Africa is a great example of the popularity of Forex trading. The country represents one of the best places for traders to start and have a successful trading career.
Frequently Asked Questions
How much do successful traders in South Africa make per day?
Many successful South African forex traders make between $1000-$5000 per day (R 15 000 – R 75 000 ZAR) at the current exchange rate at the time of writing; however, it is recorded that the average trader in South Africa makes about $50 / ZAR 433 a day.
Will I have to pay tax on my forex earnings in South Africa?
Yes, forex earnings, including profits generated from offshore forex trading accounts, are subject to tax in South Africa.
How do I become a successful trader?
Some basic steps include: Familiarize yourself with the Forex “lingo” “by doingyour homework before selecting a broker and selecting the one that best suits your needs, Learning as much as you can about the world economy, Practice, practice and practicing with a demo account before trading with a real live account.
Can you become rich with forex trading?
Yes, you can become rich by trading Forex. However, it is also well-known that about 90-95% of traders lose money.
Who is the youngest forex trader in South Africa?
Sandile Shezi has successfully learned how to trade currencies, and at just 23, he’s become one of the youngest multi-millionaires in the country.
Has anyone become a millionaire from Forex?
Forex trading has indeed made millionaires out of some individuals.
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