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Last week, we started a new series of listicles on this blog. Our objective? To explore, discuss, and reveal the faces of forex millionaires in the countries where forex is mostly traded.
Of course, starting with our own country, Kenya.
Feel free to read that post here: 10 FOREX MILLIONAIRES IN KENYA AND HOW THEY MADE THEIR MONEY.
Today we yet reveal the faces of other forex millionaires, but from a different country, South Africa.
We hope you enjoy this read.
And please, feel free to add to the list, other millionaires you think ought to have been mentioned but were omitted, and we will gladly add them on our next update.
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Richest Forex traders in South Africa
South African Forex Millionaires And Their Money-Making Strategies
1. Ref Wayne
Ref Wayne is in his mid-twenties and is considered the best and most successful forex trader in South Africa.
He’s also known as an innovative trader in the South African forex market.
Wayne has, in the past, developed a unique trading methodology that has allowed him to consistently generate significant profits in the market.
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Since he started trading, Wayne has helped countless people succeed in the forex market through his online courses and workshops, where he teaches and mentors individuals.
How does Ref Wayne make his money?
Wayne’s net worth is approximately $500 million, and he makes most of his money through his online courses and workshops.
In trading, he uses a variety of indicators and tools to analyze the market and make informed trading decisions,
His strategies are a hybrid of technical and fundamental analysis.
2. Jabulani Ngcobo
Jabulani Ngcobo, also known as the Disciplined Trader, is a highly successful forex trader from South Africa who’s well-known for his disciplined trading approach and high-risk management skills.
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Ngcobo advocates for financial education and has dedicated himself to training others about the forex market, making him a thought leader in the South African forex industry.
Money-making Tactics
Ngcobo’s net worth is estimated at $2.4 million as of December 2023, and his trading style revolves around patience and discipline.
He emphasizes long-term investments over short-term gains in most of his videos.
He’s also known to be vocal about the importance of risk management and encourages traders to understand the market before making any trades.
3. Shaun Benjamin
Shaun Benjamin, the technical analyst, is another rich forex trader and educator in South Africa, well-known for his focus on technical analysis and ability to identify profitable trading opportunities with just a few indicators.
Unlike all the other traders on this list, Shaun is a popular speaker and author, sharing his insights worldwide.
Money-making Tactics
It is estimated that Benjamin is worth $100 million, and his strategy is primarily based on technical analysis, which may not be suitable for all traders but can be valuable for those looking to improve their technical analysis skills.
Shaun uses a variety of indicators and chart patterns to identify potential entry and exit points, placing a strong emphasis on risk management and encouraging traders to have a great understanding of market trends.
4. George Van Der Riet
Often referred to as the veteran trader, George has over 20 years of experience in the market.
He is known for his long-term trading approach and his focus on fundamental analysis. Van Der Riet is a trading mentor who has helped many aspiring forex traders achieve their financial goals.
- Start trading with $1
- Earn up to 95% profits
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- $10 minimum deposit
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But how does he make his money?
How George Van Der Riet makes his money.
Van Der Riet’s net worth is estimated at $20 million.
As a veteran trader, his knowledge and experience in the Forex market are invaluable, and he shares them in workshops and through his Forex courses.
George’s training put more emphasis on fundamental analysis and long-term investments that can be beneficial for traders looking to build a strong foundation in the market.
Van Der Riet’s trading strategy is based on a combination of fundamental and technical analysis.
5. Nelisiwe Masango
Nelisiwe Masango, the CEO of Ubuntu Investment and Bear Run Investment, is a successful forex trader and entrepreneur who has achieved major success in the forex market.
She has dedicated her time to empowering and educating people about financial freedom and wealth generation as a way of curbing youth unemployment.
Money-making Tactics
Masango is estimated to have a net worth of R3,450,000.
Her strategy involves a combination of technical analysis and price action, as well as the importance of risk management and preserving capital.
6. Simz D’Mandla
Simz D’Mandla is a forex trader and mentor who has achieved consistent profits in the market over the shortest period possible.
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D’Mandla uses a combination of technical and fundamental analysis to identify potential trading opportunities.
Money-making Tactics
D’Mandla’s worth is not in the public domain, but he’s undoubtedly rich from forex.
His strategy involves trading multiple currency pairs simultaneously, diversifying his risk, and increasing his chances of success.
7. Siphiwe Magudulela
Siphiwe Magudulela is the founder of Tradepedia, a forex education platform, and a successful forex trader in South Africa.
Magudulela emphasizes the importance of continuous learning and adapting to market conditions.
Money-making Tactics
Magudulelea’s strategy revolves around a combination of technical analysis and price action, with a focus on identifying key support and resistance levels.
8. Sandile Shezi
Sandile Shezi is one of the most renowned forex billionaires in South Africa. He has established the “Global Forex Institute,” a company that offers free training to young people in the lower income bracket as a way of giving back to the community.
He began trading currencies when he was only 12 years old.
Money-making Tactics
Shezi has approximately R2.4 billion in net worth. He used the money he made from trading currencies to trade other financial instruments, and it has paid off.
9. Reabetswe Shongwe
Reabetswe Shongwe is a very famous female currency trader from South Africa who has made millions in the forex industry.
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She is the CEO of Women in Forex and Entrepreneurship (W.I.F.E.). Her goal is to empower women and young people to achieve financial freedom through entrepreneurship and forex.
Money-making Tactics:
Shongwe’s net worth is also not public, but she’s a multimillionaire making money through Forex education.
9. Paballo Nkwe and Danielle Lester
Paballo Nkwe and Danielle Lester are two powerful female Forex traders, both in their twenties, from South Africa.
They’re co-founders of iSelect Wealth, a program that aims at teaching South African universities about finances, helping them develop financial intelligence, and teaching Forex trading.
Money-making Tactics
The duo uses a trend trading strategy that involves buying currencies that are in a strong uptrend and selling currencies that are in a strong downtrend.
Range trading: They also use a range trading strategy that involves buying and selling currencies within a certain price range and a carry trade strategy involving borrowing a low-yielding currency and investing it in a high-yielding currency.
Their net worth is, however, not in the public domain, but your guess is as good as mine. They make most of their money training.
10. Louis Tshakoane Junior
Louis Tshakoane Junior is one of the South Africans with success stories that trace back to his teenage years.
He has experiences with UBS and Lamborghini, which makes him utilize his networks to establish Undercover Millionaires, a network of business individuals dedicated to transforming lives and positively impacting less fortunate communities.
Louis Tshakoane is just as popular and fortunate as all the other millionaire South African Forex traders we have listed here.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Keep in mind, though that this is an unordered list and the number Louis Tshakoane has taken in the list does not reflect his true position as a wealthy South African forex trader.
Conclusion
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- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
