The majority of beginners, myself included, are fascinated by stories of the most successful Forex traders. Everyone tries to imitate them, wants to be at the same financial level as they are right now, but no one pays attention to details that do matter a lot. They’ve spent hours of sleepless nights to be considered among the greatest ones.
Their success stories are inspiring, encouraging us to take action. The list below presents trading giants, who have managed to influence the entire world by trading currency pairs onto the rapidly growing market. While making the list, we realized that you’re not featured in there, although you could surely reserve your place among the most prosperous traders someday. Hopefully, stories behind the best forex traders in the world and their pathway towards triumph will serve as an example to everyone that anyone can succeed as a Forex trader.
We are sure everyone living in the 21st century has at least once heard about the existence of the man who broke the Bank of England, probably the most influential human being with a net worth of $8 billion. His career skyrocketed by the end of the 90s when betting against the British pound led to him generating more than one billion US dollars in profits, mentioning the fact that it took him less than a day to achieve the above-mentioned result, essentially joining the club of forex millionaires overnight.
Unlike many others, Geoge Soros has not been employing a scalping strategy or any other day trading technique. The majority of his trades were done over a long period of time. Actually, Quantum Fund was the first company he founded, leading to him generating stable income lasting for years. Forex Exchange Market helped him experiment with a variety of strategies. Getting to know details of the buying and selling techniques later on turned into breaking the English bank, impacting the entire industry. No one has ever done something similar to the finance niche, which obviously makes George Soros one of the biggest forex traders.
If you want to find out how to be a successful trader in Forex then following the journey of Lipschutz is the only thing that you should do after finishing reading this article. Co-founder and former director of Hathersage Capital Management, has gained popularity among millions of traders after successfully managing to turn $12,000, inherited from the grandmother in billions of dollars, helping Salomon Brothers make $300 million a year.
Bill commenting on his trading strategy – “I don’t trade on rumors, I’m the basic trader, trying to gather information, helping me to decide if the investment is worth rooting for”.
While Bill Lipschutz net worth is not known, he is easily among the best Forex traders out there.
Andrew undoubtfully makes the list of the most successful Forex traders in the world. While being a young entrepreneur at the age of 32 years, he was paying attention to the currencies rallying against the dollar after facing the so-called Black Monday crash. It was a perfect opportunity for Krieger to make some profits. Taking up the short position against the New Zealand dollar has helped him earn hundreds of millions of dollars, exceeding the entire supply of the country.
Paul Tudor Jones
Hedge fund manager and well-known American investor, Paul Jones built up his career by having the biggest return on investments. Things started to move fast in the year of 2013, when he made a bet with tremendously big capital against the Japanese currency, Yen. Following the short-selling, it led him to have close to a 20% return rate, landing him amongst the richest Forex trader in the world.
Paul differentiates from the other successful Forex traders by having a unique investment philosophy. Pure Words of wisdom: “I don’t care about the mistakes made a few seconds ago but I wonder how they will influence the behaviour afterwards”.
His firm – Tudor Investment Corporation has faced a bunch of lawsuits, leading to him losing a substantial amount of money. While he did manage to solve all the financial issues, it will surely take some time to get the high-profit returns back to the game.
It took Bruce more than 30 years to make his first trade on the Forex market. Purchasing the right futures contracts resulted in earning multiple six figures. Considering the fact that he was driving a taxi for pocket money, before becoming top forex trader and a billionaire, supports the idea that everyone is capable of having their dreams fulfilled. It is just a matter of time and pure dedication to the work to make things happen.
Having the right mindset along with a successful Forex trader lifestyle can influence the possible outcome that you are trying to achieve. Stanley Druckenmiller is a perfect example of how growing up in a suburban area of the country can not make a difference when the trader has a proven strategy to work with.
He had been in charge of managing money for George Soros, which made the greatest impact on his financial career. The net worth of $4.6 Billion, and years of experience working as a lead hedge fund manager, has given him a chance of operating money through a family office without taking any further responsibilities while maintaining his status as one of the richest Forex traders.
Born in Great Britan, and having the obligation of paying taxes made Joe leave the country in the early period of his life and made it impossible to trade with the UK FX Brokers for him. After successfully operating and later on selling his father’s business, moving to the Bahamas was the only option to maximize the potential income on upcoming trades, targeting the Forex market.
Joe Lewis is among the best Forex traders to follow, due to his persistence during the early period of his life, deep knowledge of the Forex niche, sizeable forex net worth, and his position as an investor in leading real estate, restaurant, and resort businesses.
Childhood dreams started to turn into reality when Michael connected with Ed Seykota back in the late 20s. He managed to take in all kinds of information on how Ed managed to build one of the most successful software companies, orienting onto the trading market.
Having the proper mentorship helped Marcus surpass one of the top Forex traders in the world. Becoming an experienced commodities trader in less than 10 years period made him turn his hardly collected $30,000 into close to one hundred million. We’re sure none of you can imagine generating that much income with the low capital. Sometimes knowledge is the only thing that truly matters for having a successful career and joining the ranks of the best forex traders in the world.
The United Kingdom-based trader, the founder of the Intex Exchange, Urs deserves to be mentioned as the most successful Forex trader. The FX community itself may not refer him to the best one, but the kind of knowledge and the ways of dealing with issues he encountered is what defines a successful financial career.
Having a few years of experience in the corporate world was the main reason why he had managed to earn the first million dollars on the Foreign Exchange Market without owning any large capital. Still, there are no sources, indicating how Urs makes this amount of money, but one thing is sure – Running multiple companies without facing any financial issues definitely is not easy and requires a certain type of patience and education.
The so-called genius of the commodity trading systems, Richard borrowed less than $2k from his relatives and turned it into $200,000,000 in an approximately 10-year timeframe, earning his position among top 10 forex traders in the world. While working as an order runner for the Chicago Mercantile Exchange, he managed to learn the basics of trading and later expanded his knowledge.
He’s mentored thousands of brokers, located in different parts of the world. Considering the fact that he has also managed to unite people interested in trading for the purpose of achieving a certain financial goal. It took them about 4 months to exceed annual revenue of $100 million.
Here’s one of the famous quotes, that got my attention: “I always say that everyone can publish a set of rules into the newspaper and no one pays attention to the actual power of it. The mandatory thing is discipline and consistency”.
Making the list of successful Forex traders is not an easy thing to do. However, the ones who want to step into the world of trading should have enough courage and proper financial education to reach the desired results. Considering the costly mistakes along the journey will also help you accelerate your career growth, leading to you living your dream life. Unfortunately, only having the knowledge of stories of successful Forex traders’ is not enough for having the right direction. You will need proper guidance and hours of practice to get to the level where you want to be.
Take some time to take in proper financial education. Without knowing the specific terms and strategies, it will be close to impossible to find success. Undoubtfully, people with some sort of financial background can easily take you over, no matter what career path you will choose.
Some people root for the business school, while others think that going through the macroeconomic courses will be enough to enter the Forex market. You might have already heard the statement that having the official education is kind of obligatory. Nowadays the set of rules, regulating the market constantly changes and that’s the reason why no one knows what will happen in the close future. We do recommend having certified documents in order to prove others wrong and start your journey towards becoming a successful FX trader.
Start your own journey into Forex
The success stories of these people are a monument to the fact, that anyone can make it in Forex trading and earn himself a badge of the best forex trader. There are many ways to find the right strategy for you, be it through years of research, studies and mentorships, high-risk stakes or cold-calculated moves. These stories can inspire every one of us to get down and start our own journey into the exciting world of Forex, full of opportunities. And while passion for trading is certainly an important part of success, it is only half the equation, and you need to conduct good research and find strategies well suited to you.
It is not a secret that the most significant resource required for entering the trading world is money. Similarly, it is one of the most valuable assets owned by a person and no one is willing to throw it away without a purpose or a precise plan. However, there is a way to start your journey risk-free to learn and understand what trading is all about. Our advice would be to start out with a reliable Forex broker that would offer either a no deposit bonus or a demo account. A demo account is a perfect solution allowing beginner traders to try out the platform without touching the actual money, therefore avoiding the risk of losing your funds due to inexperience.
One of the best forex trading platforms in the market today is Forex.com which is equipped with professional brokerage service, easy guides for beginners and the guarantee for top service. Forex.com offers a demo account with the trading platform available for 90 days free of charge and completely risk-free. The procedure for setting up a demo account is relatively easy. Let us explain how to register for a demo account on Forex.com:
- The home page of forex.com gives two options to the visitors: to open an account and to launch the test drive with a demo. Click on the test drive with demo
- Fill in the fields with corresponding information. Select your country of nationality, your first and last names, phone number with a country code and an active email address
- As soon as you click submit, Forex.com will grant you 50 000 USD risk-free demo account, and your credential details, including your username and password
- Click on login to web platform
- Type in the username and password which forex.com assigned to you during your step 3
- Enjoy your trading account which is an exact representation of the real accounts with the only difference being in the virtuality of the money that you are trading with. Don’t forget to go through the 9 tips that the website offers so that you are better at coordinating on the platform.
You are all set! Good luck!