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Top 10 Richest Forex Traders In South Africa 2024 | The Best Forex Traders

South Africa has been a hub for Forex trading for many years, and it’s no surprise that some of the world’s most successful Forex traders hail from this African nation. In recent years, South Africa has emerged as one of the fastest-growing Forex trading markets in the world, attracting both local and international traders. The country has produced some of the biggest names in Forex trading, with impressive success and wealth track records.

In this article, we’ll be taking a closer look at the top 10 most prosperous Forex traders in South Africa, their success stories, and the secrets behind their impressive fortunes.

Latest Updated: March 16, 2024

Summary of Top 10 Richest Forex Traders In South Africa and Net Worth 2024

NameProfessionNet WorthBrief Biography and Achievements
Ref WayneForex Trader$100 MillionRef Wayne is a self-made millionaire and the founder of the African Forex Institute. He is known for his unique trading strategy and skills.
Jabulani NgcoboForex Trader$2 MillionJabulani Ngcobo is the founder and CEO of Cashflow Pro, a forex trading company. He is known as one of the most successful traders in SA.
Louis TshakoaneForex Trader$10 MillionLouis Tshakoane is the founder and CEO of Undercover Billionaires International, a forex trading company. He is a renowned forex expert.
Shaun BenjaminForex Trader$30 MillionShaun Benjamin is the founder and CEO of Benjamin Forex Academy. He is known for his unique trading strategy and has won several awards.
Nelisiwe MasangoForex Trader$1 MillionNelisiwe Masango is a self-taught trader who started trading at the age of 21. She is the founder of Bear Run Investments and an author.
Paballo NkweForex Trader$5 MillionPaballo Nkwe is the founder and CEO of Cash Master, a forex trading company. He is known for his expertise in risk management and investments.
Simz D’mandlaForex Trader$10 MillionSimz D’mandla is the founder and CEO of Trade4Africa and The African Millionaires. He is a renowned forex trader and mentor.
Sandile SheziForex Trader$2.3 MillionSandile Shezi is the founder of Global Forex Institute. He started trading at the age of 12 and has won several awards for his trading skills.
George Van Der RietForex Trader$3 MillionGeorge Van Der Riet is the co-founder of the Global Forex Institute. He is a renowned forex trader and mentor.
Neliswe MasangoForex Trader/Author$1 MillionNeliswe Masango is a self-taught forex trader who founded Bear Run Investments. She has written a book, "The Beginner's Guide to Trading."
Ref WayneForex Trader/Institute$100 MillionRef Wayne is the founder of the African Forex Institute, which offers training and mentorship programs to aspiring traders.
Sandile SheziForex Trader/Institute$2.3 MillionSandile Shezi is the founder of the Global Forex Institute, which offers training and mentorship programs to aspiring traders.

Best Forex Traders In South Africa

1.  Reabetswe Shongwe

Best Forex Traders In South Africa Reabetswe Shongwe

Reabetswe Shongwe is a well-known Forex trader, entrepreneur, and mentor from South Africa. She was born in Johannesburg in 1989 and grew up in a family of entrepreneurs. Her parents ran a successful business, inspiring her to pursue her entrepreneurial dreams.

Shongwe was interested in Forex trading from a young age, and she began studying and practicing the craft while still in high school. After graduating, she decided to pursue Forex trading full-time, and she spent the next few years honing her skills and developing her trading strategies.

In 2011, Shongwe founded her own Forex trading company, “Forex trading made easy.” The company offered training and mentorship to aspiring Forex traders, and it quickly gained a reputation as one of the best Forex trading companies in South Africa. Shongwe’s expertise and knowledge of the industry helped her to attract many clients who were eager to learn from her.

Over the years, Shongwe has become one of the most successful Forex traders in South Africa. She has won numerous awards for her industry achievements and has been featured in several magazines and newspapers. In addition to her work as a trader, Shongwe is also an entrepreneur and mentor, and she is passionate about helping others achieve their success in Forex trading.

Today, Shongwe continues to run her successful Forex trading company and remains influential in the South African Forex trading industry. She is a role model to many young traders who aspire to achieve similar success. She is widely respected for her business acumen, expertise, and commitment to helping others succeed.

2. Ref Wayne

Ref Wayne, whose real name is Refiloe Nkele, is a well-known Forex trader, author, and entrepreneur from South Africa. He was born in Meadowlands, Soweto, in 1993 and grew up with seven children. Wayne was interested in entrepreneurship from a young age, and he started his first business when he was just 17 years old.

In his early 20s, Wayne became interested in Forex trading and spent countless hours studying and practicing different trading strategies. He quickly became known as a skilled trader, soon attracting clients eager to learn from him.

2014, Wayne founded his own Forex trading company called “African Forex Institute.” The company was dedicated to providing education and training to aspiring Forex traders, and it quickly became one of the most successful Forex trading companies in South Africa. Wayne’s expertise and industry knowledge helped him attract many clients, and he soon became one of the most sought-after Forex traders in the country.

Wayne has also written several books on Forex trading, including “The Art of Trading” and “Pipcoin: The Rise of Bitcoin”. He has won numerous awards for his industry achievements and featured in several magazines and newspapers.

In addition to his work as a trader and author, Wayne is an entrepreneur and philanthropist. He founded “The Ref Wayne Foundation,” which is dedicated to empowering young people through education and entrepreneurship.

Wayne remains an influential figure in the South African Forex trading industry today. He is widely respected for his business acumen, expertise, and commitment to helping others succeed. His work has inspired many young traders, entrepreneurs, and philanthropists, and he continues to be a role model for many in South Africa and beyond.

3. Jabulani Ngcobo

Jabulani Ngcobo

Jabulani Ngcobo, also known as “Cashflow Ngcobo,” is a well-known Forex trader and entrepreneur from South Africa. He was born in KwaZulu-Natal in 1985 and grew up with seven children. Ngcobo was interested in entrepreneurship from a young age, and he started his first business when he was just 15 years old.

In his early 20s, Ngcobo became interested in Forex trading and began studying and practicing different trading strategies. He quickly became known as a skilled trader, soon attracting clients eager to learn from him.

In 2010, Ngcobo founded his Forex trading company, “Cashflow Pro.” The company was dedicated to providing education and training to aspiring Forex traders, and it quickly became one of the most successful Forex trading companies in South Africa. Ngcobo’s expertise and industry knowledge helped him attract many clients, and he soon became one of the most well-known Forex traders in the country.

Over the years, Ngcobo has become a household name in the South African Forex trading industry. He has won numerous awards for his industry achievements and featured in several magazines and newspapers. In addition to his work as a trader, Ngcobo is also an entrepreneur and philanthropist, and he is passionate about helping others achieve success in Forex trading and beyond.

Ngcobo continues to run his successful Forex trading company today and remains influential in the South African Forex trading industry. He is widely respected for his business acumen, expertise, and commitment to helping others succeed. His work has inspired many young traders, entrepreneurs, and philanthropists, and he continues to be a role model for many in South Africa and beyond.

4. Louis Tshakoane

Louis Tshakoane is a well-known South African Forex trader, author, and entrepreneur. He was born in Limpopo province in 1994 and had seven children. Tshakoane’s interest in entrepreneurship began at a young age, and he started his first business when he was just 16 years old.

In his early 20s, Tshakoane became interested in Forex trading and began studying and practicing different trading strategies. He quickly became known as a skilled trader, soon attracting clients eager to learn from him.

In 2016, Tshakoane founded his Forex trading company called “Undercover Billionaires International.” The company was dedicated to providing education and training to aspiring Forex traders, and it quickly became one of the most successful Forex trading companies in South Africa. Tshakoane’s expertise and industry knowledge helped him attract many clients, and he soon became one of the most well-known Forex traders in the country.

Tshakoane has also authored several books on Forex trading, including “Forex Millionaire in 365 Days” and “Forex Dreams – A Beginner’s Guide to Forex Trading.” He has won numerous awards for his industry achievements and featured in several magazines and newspapers.

In addition to his work as a trader and author, Tshakoane is also an entrepreneur and philanthropist. He founded “The Louis Tshakoane Foundation,” which is dedicated to empowering young people through education and entrepreneurship.

Today, Tshakoane remains influential in the South African Forex trading industry. He is widely respected for his business acumen, expertise, and commitment to helping others succeed. His work has inspired many young traders, entrepreneurs, and philanthropists, and he continues to be a role model for many in South Africa and beyond.

5. Shaun Benjamin

Shaun Benjamin is a well-known South African Forex trader and entrepreneur. He was born in Johannesburg in 1986 and grew up with five children. Benjamin’s interest in entrepreneurship began at a young age, and he started his first business when he was just 16 years old.

In his early 20s, Benjamin became interested in Forex trading and began studying and practicing different trading strategies. He quickly became known as a skilled trader, soon attracting clients eager to learn from him.

In 2012, Benjamin founded his own Forex trading company “Benjamin Forex Academy.” The company was dedicated to providing education and training to aspiring Forex traders, and it quickly became one of the most successful Forex trading companies in South Africa. Benjamin’s expertise and industry knowledge helped him attract many clients, and he soon became one of the most well-known Forex traders in the country.

Over the years, Benjamin has won numerous awards for his achievements in the Forex trading industry. In 2018, he won the Africa Forex Expo Award for “Best Forex Training Provider.” He has also been featured in several magazines and newspapers, including Entrepreneur Magazine, City Press, and Finweek.

In addition to his work as a trader and entrepreneur, Benjamin is also a philanthropist. He founded “The Benjamin Foundation,” which is dedicated to empowering young people through education and entrepreneurship.

Benjamin remains an influential figure in the South African Forex trading industry today. He is widely respected for his business acumen, expertise, and commitment to helping others succeed. His work has inspired many young traders, entrepreneurs, and philanthropists, and he continues to be a role model for many in South Africa and beyond.

Read also: Robert Kuok Net Worth | The Rise of a Billionaire Business Mogul

6. Nelisiwe Masango

Nelisiwe Masango is a prominent South African Forex trader, entrepreneur, and author. She was born in Nelspruit in 1986 and grew up with four children. Masango’s interest in entrepreneurship began at a young age, and she started her first business when she was just 19 years old.

In her early 20s, Masango became interested in Forex trading and began studying and practicing different trading strategies. She quickly became known as a skilled trader, soon attracting clients eager to learn from her.

2013, Masango founded her Forex trading company “Bear Run Investments.” The company was dedicated to providing education and training to aspiring Forex traders, and it quickly became one of the most successful Forex trading companies in South Africa. Masango’s expertise and industry knowledge helped her attract many clients, and she soon became one of the most well-known Forex traders in the country.

In addition to her work as a trader and entrepreneur, Masango is also an author. In 2017, she published her first book, called “Forex Trading: The Ultimate Guide to Forex Trading”. The book has been well-received by traders and aspiring traders, and it has helped establish Masango as an authority in the Forex trading industry.

Masango has won numerous awards for her achievements in the industry, including the 2019 Africa Forex Expo Award for “Best Female Forex Trader.” She has also been featured in several magazines and newspapers, including Destiny Magazine and The South African.

Today, Masango remains influential in the South African Forex trading industry. She is widely respected for her business acumen, expertise, and commitment to helping others succeed. Her work has inspired many young traders, entrepreneurs, and authors, and she continues to be a role model for many in South Africa and beyond.

7. Paballo Nkwe

Paballo Nkwe is a well-known South African Forex trader, entrepreneur, and philanthropist. He was born in Johannesburg in 1991 and grew up with four children. Nkwe’s interest in entrepreneurship began at a young age, and he started his first business when he was just 17 years old.

In his early 20s, Nkwe became interested in Forex trading and began studying and practicing different trading strategies. He quickly became known as a skilled trader, soon attracting clients eager to learn from him.

In 2017, Nkwe founded his own Forex trading company “Global Forex Institute.” The company was dedicated to providing education and training to aspiring Forex traders, and it quickly became one of the most successful Forex trading companies in South Africa. Nkwe’s expertise and industry knowledge helped him attract many clients, and he soon became one of the most well-known Forex traders in the country.

Over the years, Nkwe has won numerous awards for his achievements in the Forex trading industry. In 2019, he won the Africa Forex Expo Award for “Best Forex Education Provider”. He has also been featured in several magazines and newspapers, including Forbes Africa, The Mail & Guardian, and The Sunday Times.

In addition to his work as a trader and entrepreneur, Nkwe is also a philanthropist. He founded “The Paballo Nkwe Foundation,” which is dedicated to empowering young people through education and entrepreneurship.

Today, Nkwe remains an influential figure in the South African Forex trading industry. He is widely respected for his business acumen, expertise, and commitment to helping others succeed. His work has inspired many young traders, entrepreneurs, and philanthropists, and he continues to be a role model for many in South Africa and beyond.

8. Simz D’mandla

Simz D’mandla is a well-known entrepreneur and Forex trader based in South Africa. He is the founder and CEO of Trade4Africa and The African Millionaires, two companies focused on providing education, training, and investment opportunities in the Forex industry to people across the African continent.

D’mandla began his career in Forex trading at a young age, and his success quickly earned him a reputation as one of the top traders in South Africa. He eventually founded Trade4Africa, a company that offers Forex education, training, and investment opportunities to people across Africa. The company has helped to train thousands of traders over the years and has earned numerous awards and accolades for its work.

In addition to Trade4Africa, D’mandla founded The African Millionaires, a company focused on helping people across Africa achieve financial freedom through Forex trading. The company offers a range of courses, training programs, and investment opportunities in the Forex market.

D’mandla’s achievements in the Forex industry have not gone unnoticed. He has been featured in various international media outlets, including CNBC Africa, Bloomberg, and Reuters. In 2019, he was named one of the “Top 50 Most Influential Young Africans” by Forbes Magazine.

Aside from his work with Trade4Africa and The African Millionaires, D’mandla is also actively involved in philanthropy. He has partnered with various organizations to provide education and job opportunities to underprivileged communities in South Africa and across Africa.

Today, D’mandla continues to inspire and empower people through his work in the Forex industry and philanthropic endeavors. He is widely recognized as one of the most successful Forex traders and entrepreneurs in Africa, and his contributions to the industry have helped transform countless individuals’ lives.

9. Sandile Shezi

Sandile Shezi is a South African Forex trader and entrepreneur widely recognized as one of Africa’s youngest and most successful Forex traders. He was born on May 26, 1993, in Durban, South Africa, and grew up in a modest household.

Shezi’s interest in Forex trading began at 12 when he started selling muffins at his school to raise money for his family. By 16, he was already trading Forex, and he eventually dropped out of college to pursue his passion for trading.

Shezi’s career took off when he founded the Global Forex Institute in 2014, providing Forex education and training to people interested in learning how to trade. He is also the founder of the Sandile Shezi Foundation, which provides educational and financial assistance to disadvantaged communities.

Shezi’s trading success has earned him numerous awards and accolades. In 2015, Forbes Magazine named him one of the “Top 30 under 30” entrepreneurs in South Africa. He has also been featured in various international media outlets, including CNN and BBC.

In addition to his entrepreneurial ventures, Shezi is actively involved in philanthropy. He has partnered with various organizations to provide education and job opportunities to underprivileged communities in South Africa.

Today, Shezi is recognized as one of Africa’s most successful Forex traders. He is a role model to many young traders and entrepreneurs who aspire to achieve similar success in their careers. His work has inspired many South African people to pursue their passions and achieve their dreams.

10.  George Van Der Riet

George Van Der Riet is a renowned Forex trader and entrepreneur from South Africa. He is the co-founder and CEO of the Global Forex Institute, which provides Forex education and training to people interested in learning how to trade.

Van Der Riet began his career in Forex trading at a young age, and his success quickly earned him a reputation as one of the top Forex traders in South Africa. He eventually founded the Global Forex Institute in 2014 with his partner Sandile Shezi to share his knowledge and expertise with others interested in Forex trading.

Under Van Der Riet’s leadership, the Global Forex Institute has become one of the most respected Forex training institutions in South Africa, offering a range of courses and training programs for traders of all levels. The Institute has helped to train thousands of traders over the years and has earned numerous awards and accolades for its work.

Van Der Riet’s achievements in the Forex industry have not gone unnoticed. He has been featured in various international media outlets, including CNBC Africa, Bloomberg, and Reuters. In 2015, Forbes Magazine named him one of the “Top 30 under 30” entrepreneurs in South Africa.

Aside from his work with the Global Forex Institute, Van Der Riet is also actively involved in philanthropy. He has partnered with various organizations to provide education and job opportunities to underprivileged communities in South Africa.

Today, Van Der Riet inspires and empowers people through his work in the Forex industry and philanthropic endeavors. He is widely recognized as one of the most successful Forex traders and entrepreneurs in South Africa, and his contributions to the industry have helped transform countless individuals’ lives.

Read also: Danny Wilde Net Worth | Biography, Career, Early Life, and Family Details

Conclusion

In conclusion, the world of forex trading has produced some highly successful individuals in South Africa who have significantly impacted the industry. These traders have risen to the top through dedication, hard work, and a deep understanding of the financial markets. They have proven that anyone can succeed in forex trading with the right mindset, knowledge, and skills.

While their stories and backgrounds differ, they share their unwavering passion for trading. Their achievements have earned them fame and fortune and inspired many aspiring traders in South Africa and beyond.

It is worth noting that forex trading involves high risks, and success is not guaranteed. However, these successful traders have shown that with discipline, perseverance, and a commitment to learning, one can achieve their goals in the forex market.

FAQ | Top 10 Richest Forex Traders In South Africa

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The richest forex trader in South Africa is reportedly Sandile Shezi, with an estimated net worth of over $2.3 billion.

Nelisiwe Masango is considered to be one of the youngest South African forex traders. She started trading at the age of 19 and has since become a successful trader and entrepreneur.

There are several reputable and reliable forex brokers in South Africa, including FXTM, IG, and XM.

It is difficult to determine who the highest paid forex trader is, as their earnings can vary greatly depending on their trading strategy, capital, and market conditions.

There is no single person who can be considered the "boss" of forex, as it is a decentralized market with no central governing authority.

The youngest forex millionaire on record is reportedly Mohammed Islam, who became a millionaire at the age of 17 through his trading activities.

It is difficult to determine who the richest broker in South Africa is, as their earnings can vary greatly depending on their business model and success.

There are many countries with successful forex traders, but some of the most notable include the United States, Japan, the United Kingdom, and Switzerland.

The earnings of forex traders in South Africa can vary greatly depending on their trading strategy, capital, and market conditions. It is not possible to provide an accurate average monthly income.

The Islamic perspective on forex trading is a matter of debate among scholars. Some consider it permissible as long as it is done in accordance with certain principles, while others view it as gambling and therefore haram.

There is no information available about the oldest forex trader, as age is not a relevant factor in trading success.

Forex prices are moved by a variety of factors, including economic news and data releases, geopolitical events, market sentiment, and the actions of large institutional traders.

It is difficult to determine who the first trader in South Africa was, as trading has been a part of human civilization for thousands of years.

The youngest millionaire day trader on record is reportedly Timothy Sykes, who became a millionaire in his early 20s through his trading activities.

There is no specific age limit for forex trading, but many brokers require traders to be at least 18 years old to open an account.

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