10 Richest Forex Traders in South Africa (List of Forex Millionaires Updated in September 2023)

Forex trading in SA has become a very profitable business. For example, more and more young people in South Africa managed to maximize their earnings trading foreign exchange markets, even if they don’t come from wealthy families.

That being said, some even managed to become filthy rich from trading forex!

In this article you will discover the most successful forex traders in South Africa.

Top 10 Richest Forex Traders in South Africa

  1. Ref Wayne
  2. Jabulani Ngcobo
  3. Louis Jr Tshakoane
  4. Sandile Shezi
  5. George Van Der Riet
  6. Reabetswe Shongwe
  7. Shaun Benjamin
  8. Nelisiwe Masango
  9. Paballo Nkwe
  10. Danielle Lester


Ref Wayne

Ref Wayne
Image Source: Facebook.com

First name worth mentioning is Ref Wayne, whose interest in trading goes back to high school.

Ref Wayne is likely the best forex trader in South Africa.

In fact, he actually dropped out of high school in 2011. After a couple of weeks, he started trading, and by the age of 19, he successfully made his first million.

Since he had a rough childhood, he established the Ref Wayne Foundation in order to help other unprivileged children. He is also the author of a book entitled “The Art of Trading”, which includes both theoretic and actionable steps regarding technical Forex trading strategies.

What’s Ref Wayne’s net worth?

Ref Wayne net worth is approx. $500 million or R8,797,000,000 Rand.

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Jabulani Ngcobo

Jabulani Ngcobo
Image Source: Viralfeed.co.za

Jabulani Ngcobo born in 1985 is one of the most successful and richest Forex traders in South Africa.

He is a self-made millionaire and also the author of the the book called “Cashflow Naked”. His book is not only a biography but also a lesson of financial education. At the same time, it’s worth noting that Ngcobo comes from a disadvantaged background, which is a testimony that anyone can succeed as long as he/she is determined and ambitious.

What’s Jabulani Ngcobo’s net worth?

Jabulani Ngcobo net worth is $2.4 billion (estimated) or R41,486,603,000 Rand.

You might like also this article: Top Forex Youtube Channels

It’s also worth checking out this article: The Richest Forex Traders in the World

Recommended for you: Top Rated Forex Mentors

Sandile Shezi

Sandile Shezi
Image Source: Youtube.com

Sandile Shezi is another renowned Forex trader and is also one of the youngest millionaires in South Africa. He has established the “Global Forex Institute”, a successful company that caters for the lower income bracket.

A word of caution: It is good to mention here that GFI Global Forex Institute has been under close scrutiny during 2015 according to News24.com.

Interestingly enough, he began Forex trading when he was only 12 years old. He used the money he made in order to trade Forex when he was still in school. That’s why Global Forex Institute offers free training to young people. This is his way of giving back to the community, aiming at helping others attain financial freedom.

However, Sandile Shezi didn’t take any Forex training courses, so it’s possible to become a millionaire even if you don’t have any financial education.

What’s Sandile Shezi’s net worth?

Sandile Shezi’s net worth is $2.4 billion (estimated)

George Van Der Riet


George Van Der Riet is another self-made millionaire from South Africa on our list. This guy seems to be in his 40’s and according to his Internet profile on LinkedIN he has a solid financial background from UK banking sector but he is originally from Cape Town. He claims he was working for several banks as a forex trader back then. Currently he is behind the famous “Global Forex Institute” together with his business partner Sandile Shezi.

George is a car fan and owns a collection of fast and luxurious cars according to his Instagram (https://www.instagram.com/georgedotcc/?hl=en)

What’s George Van Der Riet’s net worth?

George Van Der Riet’s net worth is $20 million (estimated)

Louis Jr. Tshakoane

Louis Tshakoane
Image Source: Pressportal.co.za

Louis Jr Tshakoane is another young forex millionaire based in South Africa, being the founder and president of Undercover Millionaire’s Currency. His goal was to create a network for business people so that they could communicate ideas and strategies. A key concept lying at the foundation of the company was giving something back to the community.

What’s Louis Jr Tshakoane’s net worth?

Louis Tshakoane’s net worth is not publicly available.

Reabetswe Shongwe

Reabetswe Shongwe
Reabetswe Shongwe is a successful female forex trader from South Africa who is disrupting the forex industry.  Not only she is good looking philantropist but she is also a co-founder of GFI Institute (together with Sandile Shezi and George van der Riet) and the CEO of Women in Forex and Entrepreneurship (W.I.F.E). Her goal is to empower females and young people to achieve financial freedom through entrepreneurship and forex.

What’s Reabetswe Shongwe’s net worth?

The net worth of Reabetswe Shongwe is not publicly available.

FAQ (Frequently Asked Questions)

Who is the richest forex trader in South Africa ?

The richest forex trader in South Africa is Ref Wayne.

Who is the best forex trader in South Africa?

Ref Wayne is the best South African forex trader.

Who is the most successful female forex trader in South Africa ?

The most successful female forex trader in South Africa is Reabetswe Shongwe.

Is Forex legal in South Africa ?

Forex trading is legal in South Africa, yet heavily regulated by the FSCA Financial Services Conduct Authority.

My Final Thoughts

So there you have the most successful south african forex traders.  If you’re wondering whether making money from forex trading is actually a possible, this article should have answered your question. Nevertheless, this doesn’t mean that everyone can become the next south african forex millionaire like Sandile Shezi, as this is dependent on a wide range of factors and conditions.

One thing is for sure, though – Forex trading offers a wide range of unique opportunities. As you can see, there are many young people that succeeded down this path, in spite of their humble beginnings.

Anyway, almost everyone who is ambitious and has strong personality can possibly learn forex trading on his own and succeed. You don’t really need to give your hard earned money to pay someone who promises to teach you. There are no secrets in forex, only hard work that pays off.  Avoid forex scam and start with safe and regulated forex broker. We cover this in our guide to 8 best forex brokers in South Africa.

In case you are more into stocks than forex trading, read our guide on top trading platform in South Africa. If you liked this article, we would be glad if you could share it on your social network.

Remember: Only the most stubborn will succeed in the end!

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