Forex trading in South Africa has gained immense popularity in recent years, with several traders achieving remarkable success. As the largest financial market globally, Forex provides ample opportunities for individuals to generate wealth by trading currency pairs. In South Africa, a handful of traders have distinguished themselves by amassing significant fortunes through their expertise in this highly volatile market.
This article presents the top 10 richest Forex traders in South Africa in 2024. Their stories, strategies, and success provide valuable insights into the world of Forex trading and inspire aspiring traders who aim to follow in their footsteps.
1. Jabulani Ngcobo
Jabulani Ngcobo, also known as "Cashflow," is one of the most well-known names in South African Forex trading. Starting from humble beginnings, Ngcobo built his wealth by mastering the art of Forex trading and later educating others through his company, Cashflow Pro.
Key Achievements:
Founder of Cashflow Pro, a Forex education company.
Published author, with his book Cashflow Naked offering financial literacy guidance.
Estimated net worth: Over $2.5 million as of 2023.
Ngcobo’s approach to Forex trading focuses on educating the youth on financial literacy, making him a popular figure in South Africa’s trading circles .
2. Sandile Shezi
At just 30 years old, Sandile Shezi is one of the youngest millionaires in South Africa, having gained prominence as a Forex trader. He made headlines by investing his college tuition money into Forex, which turned out to be a highly successful gamble.
Key Achievements:
Founder of Global Forex Institute, an educational platform for aspiring traders.
One of South Africa’s youngest self-made millionaires.
Estimated net worth: Approximately $2.3 million as of 2023.
Shezi is not only known for his trading prowess but also for his philanthropic efforts in promoting financial education across South Africa .
3. Ref Wayne
Ref Wayne is a self-made millionaire who started trading Forex at the age of 16. Over the years, he has built a reputation as a skilled trader and author, with his popular book The Art of Trading influencing many aspiring traders.
Key Achievements:
Founder of the African Forex Institute and Pipcoin, Africa’s first digital currency.
Offers free trading courses to help young South Africans learn Forex trading.
Estimated net worth: Over $1.5 million as of 2023.
Wayne’s innovation in both Forex trading and cryptocurrency highlights his ability to identify emerging trends in the financial markets .
4. Louis Tshakoane
Louis Tshakoane, known for his entrepreneurial skills and Forex expertise, has become a well-known figure in South Africa. He’s the founder of Forex trading firm Undercover Billionaires, which provides mentorship and training to aspiring traders.
Key Achievements:
Founder of Undercover Billionaires, offering Forex and investment training.
Author of the book Forex Millionaire in 365 Days by God’s Grace.
Estimated net worth: Around $1.3 million as of 2023.
Tshakoane’s rise to prominence in the Forex community has been driven by his passion for helping others achieve financial success through mentorship .
5. Shaun Benjamin
Shaun Benjamin is another young millionaire who achieved financial success through Forex trading. He became a millionaire by the age of 21 and now focuses on educating others through his business, Benjamin Forex Academy.
Key Achievements:
Founder of Benjamin Forex Academy, which offers training programs for new traders.
Became a millionaire by the age of 21 through Forex trading.
Estimated net worth: Over $1 million as of 2023.
Benjamin’s success story is a testament to the potential of Forex trading for young entrepreneurs willing to learn and take calculated risks .
6. Nelisiwe Masango
Nelisiwe Masango stands out as one of the few successful female Forex traders in South Africa. She is the founder of Bear Run Investments and actively works to empower women through financial literacy programs.
Key Achievements:
Founder of Bear Run Investments and a prominent advocate for financial literacy among women.
Established the "FeFine Women" program, aimed at helping women achieve financial independence.
Estimated net worth: $1 million as of 2023.
Masango’s influence extends beyond trading, as she champions financial education and empowerment for women across South Africa .
7. George van der Riet
George van der Riet is a seasoned Forex trader with over 15 years of experience. He has worked closely with Sandile Shezi and is co-founder of the Global Forex Institute, one of the leading Forex education platforms in South Africa.
Key Achievements:
Co-founder of Global Forex Institute.
Extensive experience in Forex trading, mentoring thousands of aspiring traders.
Estimated net worth: $1.1 million as of 2023.
Van der Riet’s deep experience and role in educating the next generation of traders make him a highly respected figure in the Forex trading community .
8. Sphelele ‘Sgumza’ Mkhize
Sphelele Mkhize, also known as "Sgumza," is a successful Forex trader and entrepreneur. He is the founder of Smart FX, a platform offering financial education and mentorship to aspiring traders.
Key Achievements:
Founder of Smart FX, specializing in financial mentorship and Forex trading.
Known for his motivational speaking and mentoring in South Africa’s business circles.
Estimated net worth: $900,000 as of 2023.
Mkhize’s focus on motivating and guiding young traders has solidified his position as a leading mentor in South Africa’s Forex trading scene .
9. Kgopotso Mmutlane (DJ Coach Tsekeleke)
Known both as a popular DJ and a successful Forex trader, Kgopotso Mmutlane, or "DJ Coach Tsekeleke," has built a unique brand that merges entertainment with financial education.
Key Achievements:
Founder of Forex Broker Killer (FBK), a mentorship program aimed at helping traders succeed in the Forex market.
One of the most influential social media personalities in the Forex trading space.
Estimated net worth: $850,000 as of 2023.
DJ Coach Tsekeleke’s approach to teaching Forex through social media has gained him a massive following, making him one of the most visible figures in South Africa’s trading community .
10. Simz D’Mandla
Simz D’Mandla is a successful Forex trader and entrepreneur who founded Trade4Africa, an educational platform aimed at empowering African traders. He is known for his disciplined approach to trading and his efforts to promote financial literacy.
Key Achievements:
Founder of Trade4Africa, a platform offering Forex trading education to African traders.
Advocate for financial literacy across Africa, with a focus on sustainable wealth generation.
Estimated net worth: $800,000 as of 2023.
D’Mandla’s contributions to financial education and his success in Forex trading have earned him a spot among the top traders in South Africa .
Conclusion
The success of these top 10 Forex traders in South Africa demonstrates the potential for financial independence through Forex trading. Their stories reflect not only the wealth they have generated but also their contributions to financial literacy and mentorship across South Africa. Whether through education, mentorship, or entrepreneurship, each of these traders has had a significant impact on the country’s growing Forex community.
As the Forex market continues to grow, more traders will emerge, and the landscape of Forex trading in South Africa will evolve. Aspiring traders can draw inspiration from these individuals and their journeys, using their experiences as a blueprint for success in the volatile yet rewarding world of Forex trading.
