Forex trading, there are so many different opinions about it. If you have ever thought about starting trading chances are that many people called you crazy, “you will lose all of your money”, “it is designed in a way that the brokers are the only ones who are getting rich with it” – they would say. In reality, there is, of course, a chance that you will make unsuccessful trades and lose money, but Forex trading is not gambling. If you have enough knowledge, understand the market and can implement strategies, you can master the FX trading and become really successful in it. There is also an opinion that Forex trading is no longer a way to get rich. Of course, we all know about the most successful Forex traders in the world, who accumulated their wealth with trading, like George Soros or Steve Cohen, but for those who are new to the Forex world their success seems so far and unreachable.
Another widespread myth about Forex is that you need to have a lot of money to become successful with it. There is a part of the truth to this statement; if you trade with a lot of money and have a successful trade – logically you will make more profit that wat. However, you do not have to start with a lot of money to become successful. As trading is becoming ever more popular today, many people are turning to Forex trading. There are a lot of successful forex traders’ stories about people who got it right and became rich with FX trading. Today, many of these stories are coming not from the well-developed countries, as you may have imagined, but developing nations like South Africa. If you wish to become a great Forex trader, but think that it is impossible for you to achieve the success, we suggest you take a look at the most successful South African Forex traders and see how they achieve it.
Forex trading in South Africa
South Africa is one of the good examples when we talk about the increase in the popularity of Forex trading. The country itself is multinational and vibrant with the multilingual community and represents one of the best places for traders to have a successful trading career. At the same time, the country is one of the most important economic hubs on the continent of Africa, so it is unsurprising that the number of forex traders in SA is growing rapidly, which results in the increase of the brokers that are operating in the South African Forex market. Due to the high demand in the Forex trading industry, the government with its regulatory body – Financial Services Board (FSB) – is also trying to create a better environment and provide much-needed regulations, so that the money of the investors are protected and the market is developing steadily and fairly.
Many of South African people find Forex trading very appealing due of the obvious reasons, you can have it as an additional source of the income which depends entirely on you, or perhaps if you are good in trading you can make it the primary source of revenue, and as we can see from the top successful FX traders in SA, you can get rich as well. At the same time, Forex trading does not require much from the trader, all you need to have is a computer, internet connection, devotion, and an ambition to reach success. As South Africa’s economy is developing, there is a rapid growth in the industry that also has an impact on the currency market. more and more people are getting interested in Forex trading as they are willing to invest their money, especially after seeing the success of the other SA forex traders.
Most successful forex traders in South Africa
Let’s be honest, Forex trading is very risky everywhere, South Africa included, and not many people are ending up among the best forex traders in South Africa. We can surely say that while Forex trading is not a successful path for everyone, anyone can reach success in it. When we say anyone – we really do mean it and the stories of the South African traders that have seen great accomplishments in trading will assure you of it. Now let us take a look at the list of successful forex traders in South africa.
Sandile Shezi is a Forex trader with a very controversial success story. The story is not unique but it is definitely worth mentioning. We have seen some people talking about their successes in Forex or any other industry, saying that they have put all their money in it – all of their income, retirement money or the money that was supposed to fund their studies. This is exactly what has happened to the Sandile Shezi, as he put the tuition money in the Foreign exchange market.
Sandile Shezi, who is now one of the richest Forex traders in South Africa, as well as among the best traders in South Africa, was living in a ghetto and was attending the local school. One day, he was given the tuition money for the whole year and it was then when he took a massive risk and put all of his money in the Forex trading. After the investment, he was able to make a good profit that eventually put him in the list of the best forex traders in South Africa. Currently, 26-years-old Sandile owns Global Forex Institute where he teaches young entrepreneurs about Forex trading, how to understand the tools and markets, how to create powerful trading strategies and how to become successful traders.
While the story has ended well for the young trader, risking the money that is supposed to cover your living costs or other important things, such as education, is never a good idea. The best is to invest the money that you can afford to lose. Also, you should keep in mind that Sandile Shez did not do it alone, as he was mentored by one of the best South African Forex trader George Van Der Riet who is the next trader we are going to talk about.
The success story of George Van Der Riet is an absolute opposite of the one we talked about above. He did not just get adventurous and put all he had into the Forex exchange market, but instead steadily learned about it before making his first investments. George was born and raised in Cape Town, later when it was time to further his studies he moved to Manchester where he was studying Finances. During those years that he spent in the United Kingdom, he was working in financial institutes such as banks and the Forex industry. This experience helped George Riet a lot to become professional in the forex industry. Once he decided that he knew enough and was ready to start investments by himself, he started his own journey to become one of the most successful forex traders in South Africa.
Since at that time George had already created a good reputation for himself, he was offered various job positions by the different companies, once he went back to South Africa. However, his mind was made up and he was only thinking about his personal venture. It was at that time when George met with Sandile Shezi in 2010, the event was a great help for both of them. George Riet saw the potential in him and was mentoring him for several years. As a result, both traders are in the list of top 10 richest forex traders in South Africa.
Currently, George Van Der Riet is leading the Global Forex Institue together with Sandile Shezi. As they both are aiming to help young people in South Africa to get more knowledge about the financial markets.
Ref Wayne is someone South Africa should be excited about. he definitely is the best and most successful Forex trader in South Africa. It is not very common that someone as young as Ref Wayne masters Forex trading as well as he did. Ref Wayne has developed the trading skills that he could transfer into the business. He turned to the trading since, as a young person living in the countryside, he was suffering from a lack of career development opportunities. This became the main driving force for him to put a lot of effort into trading and eventually, he became a multimillionaire, joining the ranks of top 10 forex traders in South Africa, when he was only 22 years old and over his successful career he attained the status as the richest South African Forex trader.
Not only is he the best in the Forex trading, but Ref Wayne has also created the first South African cryptocurrency named Pip Coin. Like the other traders in our list, Ref is also an entrepreneur that puts a lot of time and effort into providing proper financial education to the South African people. He has created the African Forex Institute and even has released some free Forex lessons for the mzansi community.
The most successful female Forex traders in South Africa
Let us face the truth, Forex trading remains a male-dominated industry, and perhaps it will be hard for it to change anytime soon. However, it does not mean that there are no successful females among SA forex traders. In fact, there are a lot of women that trade and are very successful at it. South Africa perhaps has one of the most daring female traders, many of whom managed to make it among the best traders in South Africa and their stories are worth reading.
Nelisiwe Masango, who is barely in her early 20s, is the director of the Forex trading company Bear Run Investments and has spearheaded three successful businesses already. When she was a schoolgirl Nelisiwe wanted to become a neurosurgeon, but soon she understood that her love for the finances and investments was the true calling. Instead of becoming a doctor she started learning entrepreneurial management, but soon dropped out and started learning how to trade. Masango started trading and became very successful at it, soon becoming one of the top forex traders in South Africa, and after tasting the success she established two business enterprises. One is “Female and Finances” that aims to promote financial awareness and security amongst the women in South Africa, and the other “Gentle Hands Agency” which is a recruitment agency to help the people who are suffering from the lack of the job opportunities.
One of the best female traders in South Africa admits that besides her love for the finances and investments, one of the biggest factors for her to start trading at an early age was a movie. As she says she got the inspiration from the Hollywood movie named “The Pursuit of Happiness.” The movie, starring Will Smith, is based on the real-life story where the impoverished guy is becoming a millionaire by becoming a stockbroker. So if you have any movie that gives you inspirations to make something great, do not consider following the inspiration silly, but if you do not have any inspiring movies on your list, maybe you should try “The Pursuit of Happiness” too.
Paballo Nkwe and Danielle Lester represent a very powerful female duo in the male-dominated Forex industry. These female forex traders in South Africa are game-changers for the Forex industry in the country. Both women are in their 20s, owning a company together – iSelect Wealth. They mentor individuals, start-ups, South Africa forex traders and companies on how to trade profitably in the investment markets. They have created models and platforms by using technologies and financial intelligence, and these platforms and models can be used by anyone. In addition to that, the duo has an incubation program, where they visit women in South African Universities to teach them about the finances and help them develop financial intelligence. They also teach Forex trading and ways to make future investments. As you can see, being a philanthropist and helping people become more financially independent is part of the Forex trader’s lifestyle in South Africa.
Can I get rich with FX trading in South Africa
As you can see, there is a possibility to become rich by the Forex trading for everyone. It does not matter from which country you are, what is your background, education of the financial situation. You do need to have a passion for trading and the will to study a lot. Many people will now think that they can enter the Forex Exchange market and magically get rich overnight, but as soon as they start trading they see – this is no the case. Although there are some instances when a person put all their money in investments and became one of the millionaires that made a fortune with Forex trading, as was the case with one of the richest Forex trader in South Africa – Sandile Shez. But for most people, such risk never ends in a good way. Those are these kinds of people who are easily disappointed with Forex trading and preach to others about how bad of a decision it is, or they think that successful traders have some sort of a secret that is shared only between them. The truth is, it is possible for any person to become a successful trader and get rich. If you want to create your own success story in the industry of Forex trading, here are some pieces of advice that you can follow.
Learn a lot
If you do not want to be a trader who just trades blindly and closes his eyes to pray every time they make a trade, you need to learn a lot more about trading. Everyone who desires to be a successful trader needs to have knowledge about finances, financial markets and of course about the Forex trading itself. If you are trading or are planning to start trading in South Africa, it would make sense to have an understanding of the country’s economy and major events in the financial field. If you are just entering the Forex industry, you should take time to search for educational guides and read a lot about Forex to gain decent knowledge of it.
Keep your investments safe
Becoming one of the most successful traders in South Africa, or anywhere else in the world, does not require much money from the beginning. If you are starting your journey to a successful Forex trading career, it is advised not to put all the money that is required to cover your other needs in the investments. When you are already a well-experienced trader and know how the market works and how our strategies work for you, you can allow yourself to put higher amounts of money and gain back even more. However, even in such cases, it is not advised to put the money that is needed for other necessary things in investments. Especially at the beginning, you need to start trading with the money you can afford yourself to lose.
Not all trades are successful, even for successful traders with many years of experience in trading, meaning that you will likely lose some money. Just imagine you have to pay off your bills but instead, you decide to put this money in trading. You are hoping to maybe double it, but then you see that the trade is not going in a way you would like it to go. You get nervous and scared since if you lose this money you will get yourself in a bad financial situation. In this case, there is a big chance that you will get into a condition that we call emotional trading. Its very simple, once a person sees that he is losing money, he tries to do something to at least get at least some profit, and with all the nervous breakdowns, they end up putting in more money and losing it all. To avoid this situation, you should always trade with the money you can afford to lose.
If you are just like me, you may get very excited when you first find out that things you were thinking about can actually come true, at this stage you cannot hold yourself and just want to get to action, and perhaps you want to start big, you want to be one of the most famous young forex traders in South Africa, you want to be the next person enlisted in the list of the top 10 richest forex traders in South Africa. However, it is not the best thing to do when you are new in the Forex industry. When you are just learning how to trade, do the opposite – start small. There are several possibilities that allow a new trader to experience trading and see how good their skills are without putting themselves under financial risks. For example, many brokers are offering demo accounts to their new customers. these accounts are not real, they are an imitation of the live accounts and a person can try himself out without making any money deposits, and naturally not making any profit. Another choice is micro-accounts – micro accounts are real live accounts that give people the possibility to start trading with small monetary deposits. Last but not the least, if you want to try out your trading skills in a live account, without making any deposit at all, and at the same time you want to get the profit you will gain from your trading, you can try XM no deposit bonus that offers 30 USD free bonus for the new customers to experience trading.
Be the next best forex trader in South Africa
If you have come this far in this article, it means that you truly desire to be the next successful Forex trader in South Africa. The success stories of these people show that there are a lot of different ways to achieve success when it comes to Forex trading. Some of them have accomplished it through years of studying, mentoring, risking and perfecting their trading skills, You can get inspired by these mzansi Forex traders and take your own path. However, there are the things that are required no matter what your goals are in the Forex industry, and how you want to reach them – the passion for trading and willingness to study before you start and in the process as well. It seems that the Forex industry is not going to go anywhere and there is still a lot of room for the people who seek success in it.