Richest Forex Traders
The richest forex traders in the world learned how to turn a profit from the $5+ trillion dollars traded each day on the FX market. But what do investors regularly topping lists of the best traders of all time have in common? Find out as we list the richest forex traders, covering their winning positions and net worths.
The Richest Forex Traders
1. George Soros
George Soros is known to be the most successful forex trader of all time. Worth a cool $8 billion, he’s among an elite class of individuals that make up the richest people in the world.
George grew up in Budapest, Hungry, during the Second World War, moving to London to study once the war was over. He obtained a PHD from the University of London in the UK and the began his early career in merchant banks. In 1969, he started his first hedge fund.
George is most famous for being ‘the man that broke the Bank of England’ in the trade that gained him a place on the list of the richest forex traders in the world. On Black Wednesday 1992, George was holding a $10 billion short position on the pound. When Sterling plummeted, he walked home with a profit of $1 billion. Soros is now a philanthropist and author. He has written a number of forex trading books.
2. Steve Cohen
Steve Cohen has a net worth of over $14 billion dollars, making him one of the richest forex traders on our list. Following his major success as an American hedge fund manager, he is now a majority owner of the Major League Baseball team, the New York Mets.
In 2013, a Cohen-founded hedgefund pleaded guilty to insider trading in one of the biggest criminal cases to hit Wall Street. The fund agreed to pay $1.8 billion in fines and over $900 million in forfeited profits.
3. Kathy Lien
No list of the top forex traders in the world would be complete without Kathy Lien. Lien has over 20 years experience in the industry, starting on Wall Street aged 18. In 2003, she joined FXCM and started DailyFX.com. This is now an important online news source for retail traders across the globe.
Lien is often quoted in notable forex news channels including Bloomberg, the Wall Street Journal and Reuters. She also published one of the best selling currency trading books: Day Trading and Swing Trading the Currency Market. She notes that becoming one of the richest day traders in the world is about being confident in your trade before you place it. Data is one of the most important tools at your disposal.
Her breadth of experience and multiple achievements has earned her a place on our list of the richest forex traders.
4. Stanley Druckenmiller
Stanley formed part of George Soros’ team at Quantum Fund and was a critical part of his success. His mantra was that being flexible in the forex industry is key. What you know last week may not be true this week. Being able to pivot when given new information is a key trait of a successful forex trader.
Stanley has a net worth of over $5 billion, giving him a rightful place on the list of the top 10 richest forex traders in the USA and the world.
5. Bill Lipschutz
Lipshutz is the richest forex trader on our list to have had no previous experience in currency trading. In fact, he studied Architectural Design before he moved into the world of finance. Bill is famous for taking his $12,000 inheritance and turning it into $250,000 through trading stocks. After this milestone, he turned his hand to currency trading.
Lipschutz recognises that in the world of forex, no trader is right all the time. But part of the skill of trading is making money whilst only being right in only 20 – 30% of trades. Limiting your losses is key.
Overall, he’s certainly earned a position on our list of the richest forex traders.
Final Word On The Richest Forex Traders
That concludes our list of the top 5 richest forex traders of all time. As you may have noticed, most of the top 20 and even 50 richest forex traders in the world are institutional traders who have had experience on Wall Street. With hedge fund investment to help them ride the losses and not stop out, huge funds can make substantial profits. But while retailer trader profits may not reach into the billions, there are those that make significant annual sums. Even more incredibly, many of the top ten retail forex traders have done so with limited start-up capital.
How Much Are The Richest Forex Traders Worth?
The most successful forex traders in the world are worth billions of dollars. After a career on Wall Street, often opening their own hedge funds, these traders have teams of analysts and investors lining up to provide them with capital. It’s a lucrative game for those with the resources and know-how.
Can You Become Rich As A Forex Trader?
You can definitely become rich being a forex trader. However, it’s not a get rich quick scheme. There’s a lot of analysis, testing of theories and preparation that goes into becoming a successful forex trader. The richest traders in the world are institutional traders with huge capital behind them. The odds are stacked against retailer investors. However, there are those that make large sums each year investing in the forex market.
How Do You Become A Forex Trader?
Most of the youngest richest forex traders in the world begin their careers with a stint on Wall Street. However, with the rise of the internet, anyone can become a forex trader by opening an account with a retail forex broker.
How Much Money Do You Need To Become Rich Forex Trading?
The more capital you have behind you, the longer you can keep a position open and ride the the highs and lows of a trade. The richest forex traders are often institutional investors with a huge amount of cash behind them that means they don’t needlessly stop out. Self-funded retail traders have lower limits, making losses more likely. Bill Lipschutz famous took $12,000 and turned it into $250,000 in capital before going on to become one of the richest currency traders in the world.
How To Become Rich Forex Trading?
It is vital to have a clear strategy with risk management measures in place when forex trading. Limiting your losses is key to success. Becoming rich through forex trading will not happen overnight. Preparation and analysis take time. Find out more about getting started forex trading.