WHO ARE THE RICHEST FOREX TRADERS IN THE WORLD?
The richest forex traders are surely the people we should look up to. But besides knowing and admiring them, we can actually benefit from them. We can learn their forex trading strategies. I will explain to you in this list of successful forex traders.
- George Soros
- Joe Lewis
- Paul Tudor Jones
Why the richest but not the top forex traders?
In the game of money, the top forex traders are no doubt the richest forex traders. They are wise men/women who can see the core of the forex market and make predictions that nobody can expect. Many people idolize the top traders in the world and dream to be one of them one day. Without further ado, we give you the richest forex traders in the world:
His birth name is Schwartz György. He was born on August 12th, 1930 in Hungary. In 1936, to escape the Nazi, his family change their name from Schwartz to Soros. Then, they moved to Switzerland in 1946, later emigrating to England in 1947. George Soros studied in the London School of Economics and Political Science. He graduated in Philosophy in 1952. While at school, he had already been making trades.
In 1954, he started his career in Singer & Friedlander, a merchant bank in London. 15 years later, he had worked for a number of banks and financial companies. In 1969, he founded the Soros Fund Management company, which mainly managed hedge funds. His company has generated over 40 billion USD in revenue since. In 1973 he founded the Quantum Fund, his primary trading venue.
On September 16th, 1992, or called The Black Wednesday, George Soros earned 1.8 billions USD by shorting the British Sterling pounds. He officially became the person who made the most money in one day throughout history. Thanks to this event, George Soros was famous for the title “The man who broke the Bank of England”.
Joe Lewis was born on February 5, 1937 in London. When he was young, he had already expressed his gift in business. He left school at 15 to help run his family business. When he took over, he quickly expanded it. Then in 1979, he sold the business to make his initial wealth.
In the 80s and 90s, he mostly did day trading and swing trading the currency market. In September 1992, he cooperated with George Soros to bet against the Sterling Pound, which led to the event of Black Wednesday. Some people said he made even more than Soros then, which is more than 1.8 billion dollars. That instantly put him in the
list of successful forex traders.
He is now still a forex trader, and he is surely one of the richest forex traders in the world.
Paul Tudor Jones
He is easily one of the best forex traders ever. 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 (2018 data).
Earlier in his life, Jones went to the University of Virginia, where he graduated with a degree in Economics in 1976. Then, he started as a clerk on the trading floor. After turning down Harvard Business School, he kept 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.
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.
Moreover, and also more important, have you heard of copy trading, or social trading? If not, my friend, you’re missing one of the most wonderful features in this industry. Copy trading simply means you copy the trades of other traders to your account. The process is so simple: you log into the platform, you choose a provider from a list, and done. All the actions conducted in the provider’s account will be copied to yours. So you need to know who the best forex traders are so that you can profit like the best.
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 $100 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. It is possible 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. If so, will only affect the market price for a very short time. Central banks are increasingly less likely to intervene in this market.
Learn more about copy trading now.