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Forex Traders. June 20, October 2, Forex Loans. From selling muffins in high school to trading his tuition fees.
Forex Millionaires In Africa | Best Forex Trading Methods
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What is Forex Trading? 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. 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.
Open a demo account with XM. 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. 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.
Top 10 Richest Forex Traders in South Africa (Male And Female)
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, 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.
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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 , 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. 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. 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. 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.
Successful 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 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. 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.
Women in Forex - 5 Most Successful Female Traders in South Africa
Both women are in their 20s, owning a company together — iSelect Wealth. They mentor individuals, start-ups, S outh 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.