Top 5 Richest Forex Traders In South Africa

Although many people in South Africa are still suspicious of forex trading and view it as a way of getting scammed, it is no secret that those who have mastered the art of forex trading have amassed riches from this business.

We have compiled a list of five of the richest forex traders in South Africa that you should know about if you plan to get in this trade. Their net worths will shock you.

37-year old Jabulani Ngcobo is among the richest self-made millionaires in South Africa who made their millions through Forex Trading.

His current net worth is estimated at $2.4 billion, although it could be more than that.

Before becoming successful, Jabulani started as a casual labourer at Toyota, where he carried doors for eight months. He left in 2006 to start his first company that dealt in debt collection, and in 2009, he started his forex trading company- Cashflow Pro.

Besides trading, Jabulani also dabbles as a motivational speaker and a writer. He has authored his biography called Cashflow Naked, where he shares some secrets about financial wisdom.

Along with making big money, Ngcobo also knows how to live a big life. He is known to throw extravagant parties, like his all-white engagement party that was held in 2021 and was graced by A-List celebrities only.

It is worth mentioning that Jabulani has been in and out of courts for appeals against his imprisonment ruling since 2019 when he was charged with fraud.

At 27 years only, Ref Wayne is living the life that many who are twice his age can only dream of. 

The young millionaire is among the richest forex traders in South Africa right now with a net worth of around $500 million, and his journey to being a millionaire is quite fascinating.

His interest in trading began at a young age. In 2011, he dropped out of school to concentrate on forex trading, and by the time he was 19, he had made his first million.

Besides trading, Ref Wayne is also an author. He wrote the book The Art of Trading and Armageddon, where he shared his nuggets of wisdom about how to be successful as a Forex trader. The book was a best-seller, and it helped him earn even more millions.

As a way of giving back to the community, Wayne started the Ref Wayne Foundation, which helps underprivileged children. 

Something else to note about this forex master is that he came up with the first South African cryptocurrency named Pip Coin.

Read also: The Richest Musicians In South Africa

 

Louis Jr Tshakoane is another super-rich forex trader in South Africa who has proven that you can make millions from trading.

He is the founder and CEO of Undercover Millionaire's Currency, which aims to create a network where business people can connect and exchange ideas.

He is also an author, having published a best-selling book titled Forex Millionaire in 365 Days by God's Grace.

Unlike the other rich forex traders on this list who worked their from the bottom, Louis Jr Tshakaone was born into a wealthy family and is one of the rich Vuzu Kids. Despite his affluent background, Louis worked hard to get to where he is.

Currently, his net worth is not known, although it's in the millions. The rich forex master loves to drive in expensive cars like BMW M4 Coupe and Audi RS3, and he exclusively dresses in Armani and Versace.

The founder of Benjamin Forex Academy & Benjamin Investment Group is also amongst the richest forex traders in South Africa, with a net worth of around $100 million.

Benjamin went to university to study engineering but dropped out due to lack of finances. He then started forex trading and with his savings, started his first company. By the time he was 21 years old, he had already earned his first million.

Sandile Shezi is another moneyed forex trader as well as the youngest self-proclaimed millionaire in South Africa with an estimated net worth of about $22 million.

The young forex trader was born and raised in a small Township located in South Durban called Umlazi. He started trading from a young age; he admits that he took a risk on money meant for his school fees. Luckily, it ended well for him.

Together with George Van der Riet, Shezi started Global Forex Institute (GFI) with the aim of mentoring young South Africans on forex trading. Even though the Institute has offered mentorship to over 10000 South Africans, Sandile has been in and out of courts for charges of fraud GFI.

As much as he enjoys making money, it appears that Sandile also enjoys giving back to society. Through the Sandile Shezi Foundation Educational Program, he hopes to sponsor underprivileged children with bursaries and scholarships so that they can get a good education.

Do you have any plans in becoming a forex trader? Which of these forex masters is your role model?