Trading on the foreign exchange market (Forex, FX) , is as old as humanity itself. However, trading in currency pairs as we know it now is quite a modern era’s ability. Before the development of IT infrastructure where everyone was given the ability to have some kind of a smart device with active internet connection trading was only done by huge financial institutions like banks or people tied closely to them and even that was quite limited. Right now, everyone has the ability to create an forex account on an exchange and start trading away. All one needs is a smart device with an internet connection and knowledge of how the market works.
Here are the most successful forex traders in South Africa
- Sandile Shezi
- Jabulani Ngcobo
- Ref Wayne
- Simz D’ Mandla
- Louis Tshakoane Junior
#1 – Sandile Shezi
Sandile Shezi is one of the most prominent examples of successful SA traders. He is commonly seen showing off his posh lifestyle on social media. The new V8 car and different vacation spots almost every month makes him one of the richest South African traders.
#2 – Jabulani Ngcobo
Jabulani is a person nicknamed “Cashflow.” He is constantly showing off material gains like new cars, real estate, expensive costumes, and whatnot. The perspective to achieve such life is one of the main motivators for a lot of people. While staying on the ground is also important, something to keep your mind entertained during the times of crisis is always enjoyable.
#3 – Ref Wayne
The foreign exchange market is one of the world’s largest markets. The capital volume amounts to almost 5 trillion united states dollars daily. This means that someone who is flexible enough and understands the strings has infinite possibilities to make a living. Ref Wayne is one such person who became one of the richest traders in the whole Mzanzi region. There’s a pattern in these forex traders who have made it in the high circles. Much like Sandile and Jabulani, Wayne always shows off his material gains including cars, private jets, and other showcases of his lavish lifestyle.
#4 – Simz D’ Mandla
Simz is one of the individuals who are extremely active on platforms like Instagram. One does not need to know him personally to see how much his quality of life has changed after he became acquainted with trading. This is one of the unique cases as Simz is still continuing his forex trading career while others may have switched to something more stable like investing in real estate and so on.
#5 – Louis Tshakoane Junior
Louis Tshakoane Junior is a 24-year-old trader who has already made fortunes while trading. He is a prime example of something motivated to learn and figure out the strings that move the market. Although, it is worth noting that some kind of a natural knack for the trade is also extremely handy. Louis is a self-learner who took advice from lots of free articles on the internet providing information about trading. One has to be knowledgeable to consider all of the geopolitical events that are happening in the countries, which utilize the traded currency pairs.
So there you have it. Those are some of the most successful forex traders in South Africa to boost your motivation!
The knowledge gathering process can be quite tedious but the internet provides ample opportunities for free education. Numerous training, as well as different blogs where expert traders are sharing their own experiences and insight, come extremely handy for both new and already veteran traders.
The development of IT Infrastructure has led to a more globalized economy making it possible for an average Joe or Janette to tap into the market and start trading away. This is one of the bedrocks of money inflow for some of the developing countries, which started capitalizing on Forex and people who trade on it. Whatever one citizen gains from trading, the money is ultimately still wasted inside of the country as it goes to pay different communal, food, water, rent, and etc.
The demand for funds in developing countries like South Africa has given rise to a group of traders who became knowledgeable through their own research and started trading. To keep the expenses as low as possible and the safety at the highest levels lots of people started trading in the most popular USD-EUR and USD-GBP currency pairs. This is due to the fact that the United States dollar (USD) still retains its value and comes out as the most stable currency in the world even now. The success of these traders has also created a need for South African forex brokers since the trading itself is associated with time. Trading with brokers from other countries creates a liability on the investor’s part. The trust issues as well as legal loopholes that foreign brokers can utilize to exploit the users from other parts of the world are indeed real and are easily countered by locally founded brokerage firms, which are well regulated by the government and create a safe and trustworthy environment for everyone interested.
As we have already mentioned trading on the foreign exchange market is nothing new. Recently it has become popular due to accessibility as well as the promise to strike it rich in the shortest amount of time.
In South Africa, the individual number of forex brokers has multiplied during the last few years. People are being encouraged by other successful forex traders in SA. These people usually write blogs and share their insights about the trade itself. This is particularly important due to the fact the actual hands-on experience is hard to come by and veteran traders are actually the ones who can objectively state the actual pros and cons of every aspect of their work.
Having someone to look up to is also extremely crucial. It gives the motivation to aspire for something. Hearing the success stories gives the incentive to seek out valuable information from these people and then integrate it into your own trading strategies.
All in all, it is worth noting that online trading in SA is a risky affair. One should always pay attention to what they invest their money into and avoid sketchy brokerages that are plaguing the industry as of now all over the world. Finding a certified and accredited broker with years of experience is a surefire way to jump-start your trading career. Apart from this, the market volatility is extreme due to the novel coronavirus pandemic, which has led the world to a massive lockdown. Although, one should always keep in mind that a lot of times the invested money may get lost and one should definitely choose safe and top rated trading platforms in South Africa. Due to this, it is never recommended to invest the funds needed for basic livelihoods like rent, food, and water.