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Top 5 Richest Forex traders in the World

Jun 04, 2021 07:50

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Forex trading is considered to be one of the most thrilling financial activities. There are virtually no limits to your earnings. Investing and trading are two words that fascinate everyone. They both imply pleasure and money combined. However, it can also be referred to as a business activity.

If you have been trading for quite some time and you have been wondering how the wealthiest Forex traders make it to the top, then you have come to the right place. If you are entirely new to trading Forex, or are an experienced currency trader on the markets, you are to be expected to share one key aspiration. It would be best if you always moved forward. Never stop what you do, and do not pay too much attention to failure – learn from it and move on.

With that being said, there has been an increase in young and promising forex traders who have emerged out of the shadows and shone the light on their achievements. In this article, we will familiarize you with some of the richest forex traders in the trading environment who many traders look up to.

No rich forex traders list will ever be complete without the legendary Geoge Soros who has been active in the trading scene since the late 1960s. Soros is the kind of trader who believes good investments are always the boring ones and if you’re having too much fun investing then you’re probably not making enough money. 

He rose to international fame in 1992 as the trader who broke the Bank of England, netting a profit of $1 billion after short-selling a reported $10 billion in British pound sterling (GBP). On Sept. 16, 1992, the U.K. withdrew the currency from the European Exchange Rate Mechanism after failing to maintain the required trading band due to Soros’ trade, solidifying a day known as Black Wednesday in history.

This incredible trade is a highlight of his career and cemented his title of one of the top traders of all time. Soros is currently one of the 200 wealthiest individuals in the world.

Soros’ notoriety made him a hedge fund tycoon overnight and that reputation alone allowed him to manage countless clients till his retirement in 2011. Soros founded a firm that specializes in managing hedge funds called the Soros Fund Management, LLC. Under his management, this firm went on to generate a mind-boggling income of $40 billion which later spawned many other corporations under his name. As of 2018, George Soros had a net worth of $8 billion most of which he invests in his businesses or gives away to charitable causes.

As of September 2020, George Soros’ net worth amounts to $10 billion. Sometimes his net worth value stood at $25 billion. But he transferred $18 billion to his charity foundation Open Society Foundations which works in more than 100 countries.

He is easily one of the best forex trader ever. Most of the traders of the forex market know his forex success stories. He is among the traders who shorted the October 1987 market crash, which is also known as Black Monday. At the age of 64, he is considered one of the richest day traders alive to this day, with a net worth at 4.5 billion USD.

He started his journey as a commodity trader. He working as a commodities trader in the NYSE. In 1980, he founded his own company called Tudor Investment Corporation. There, he was a hedge fund manager who was famous for taking part in macro trading. He mainly bet on fluctuations in interest rates and the forex market.

In October 1987, he made a profit of 62%, just by holding short position trading, when the markets were crashing. That year, he continued to earn 100 millions USD for his company. It felt like nothing can stop him at that time. In the period between 1992 and 1995, he was the Chairman of the NYSE and the top of the list of successful forex traders. In 2013, Tudor Jones obtained the profit of 14.3% for his company mainly because of his bet against the Japanese stock exchange and the Japanese Yen.

Bill Lipschutz is an American full-time foreign exchange trader. He has a B.A. degree in Cornell College in Fine Arts, as well as a Master degree in Finance. Next to his duties connected with the university, he was always keen on stock and Forex market. Lipschutz started trading already in his college times and successfully turned $12,000 investment into $250,000. This operation made him one of the best traders on Forex.

During his career, he experienced a big loss. Due to one bad trading decision he lost his entire capital. After this event, he gave more notice to risk management, which he carried on throughout his further career.

Co-founder and former director of Hathersage Capital Management, has gained popularity among millions of traders after successfully managing to turn $12,000, inherited from the grandmother in billions of dollars, helping Salomon Brothers make $300 million a year. While Bill Lipschutz net worth is not known, he is easily among the best Forex traders out there.

Andrew Kreiger started his trading career back in 1986 when he joined the Bankers Trust. At that time, the standard trading limit for employees in that company was set at $50 million. However, taking into account his talent and successes, the firm’s management decided to increase the trading limit for Kreiger to $700 million. His position allowed him to even gain profit from the Black Monday crash in 1987.

They were not disappointed. In fact, in 1987 Andrew Kreiger identified the New Zealand dollar to be very overvalued. As a result, he placed short positions for NZD, using 1:400 leverage. It goes without saying that this was a quite risky bet. Yet, it paid off quite well. As the New Zealand dollar fell by 5% against the US dollar, Kreiger has earned $300 million for the firm. Later in his life, he also worked for the Quantum Fund with George Soros.

After earning $300 million in selling the New Zealand currency, Andrew Krieger became famous in the trading field. In 1988 he started working for Soros Management Fund and later changed it to Northbridge Capital Management. He is also known for his philanthropic work – after the tsunami in 2004, he donated $350,000 for the victims.

From an early age as a young man making a living as a taxi driver, Bruce Kovner always thought he would be rich and become an active philanthropist. With this ambition, the young Bruce Kovner has invested a lot of time in studying commodity trading. Well-educated, he is very interested in academic research activities, supporting investment activities in education and arts.

Since the founding of Caxton Associates, the fund’s average annual return has been 21 percent compared with the S&P 500 average gain of 11 percent. Bruce Kovner only had in 1994 a loss in 20 years of fund management. Before founding Caxton Associates, Bruce Kovner also achieved an unprecedented record on the commodity exchange, with a 90% return on 10 years of operation. This is really an achievement that very few experts can achieve in terms of both trading on the commodity floor and the efficiency of investment in the stock market.

His net worth is only second to the richest forex trader in this list, George Soros.

Why do you need to know the richest forex traders?

Right now, you must be wondering as such. “It’s good to know who they are, but what will I do with this information? How can this benefit me? They are just some old guys.” Well, first of all, now you know who has the best forex strategy. You know who the best are, so you can come to them to learn something. You may be wondering if a forex course is trustworthy. Now you can see who you can put your faith in.

Why you should trade forex

Unlike the stock market and other financial markets, the Forex market has no conditions for you to buy and sell. Investors always have the opportunity to buy and sell, making profit even when the market goes up or down. Thanks to this advantage, traders can make a profit regardless of market trends without having to depend on an upside of the market.

To start participating in this market is not difficult, you need to have an understanding of the market and a minimum capital of $200 to start and still be able to make a profit by knowing how to use leverage on time and how to analyze the market by financial indicators. The Forex market is too large and has a lot of components involved in trading. Therefore, there is no single organization or individual or central bank to control the price of any currency pair in the Forex market in the long run.

The impact of large financial institutions like the Fed or the Central Bank will only affect the market price for a very short time. Central banks are increasingly less likely to intervene in this market.

We hope that this article has been inspirational for you to go ahead and start your path as a trader. It makes perfect sense to get started on a practice account with a virtual balance before you commit your own money to trading. Open Winstone Prime demo account and start trading now.

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