Whether you are an experienced forex trader or a beginner, everyone wants to be successful in this field. Every day millions of people enter the forex market with the hope of making successful trades. But only a handful of them can achieve their goals.
To become a successful trader, it is important to have adequate knowledge about the finance market. The rich traders who are currently on the top have in-depth knowledge about spread betting, day trading, scalping, and other types of trading that take place in the forex world.
Knowledge backed by experience and strategy-making skills is what makes a trader successful. In today’s article, we will provide the names of the top 10 successful people who are currently ruling the forex market.
Now let’s take a look at the list below.
George Soros
Starting the list with George Soros, who is one of the most prominent figures in the world of forex. He worked for several banks in the U.S. and the U.K. before setting up his hedge fund in 1959. He achieved the biggest success of his career in 1992, during the “Black Wednesday.”
At present, George Soros’ net worth is estimated above $8 million. He has donated over $32 billion to his foundation to promote liberal political causes across the world.
Bill Lipschutz
Bill Lipschutz began his trading career with just $12,000 which he inherited from his grandmother. He was able to turn that amount into $250,000. But unfortunately, he lost all the money in a single trade. This made him realize the importance of risk management.
During the time he worked for Solomon Brothers, he gained $300 million followed by immense fame. His first mistake became the greatest teacher in his trading career.
Stanley Druckenmiller
Working at George Soros’ hedge fund company, Quantum Fund, Stanley Druckenmiller considered George Soros as his inspiration. After working there for a decade, he quit his job to set up his own hedge fund company called Duquesne Capital.
His firm turned out to be successful which helped him generate a substantial amount of profit throughout his career. At the time of his retirement, Stanley had a net worth of $2 billion.
Andrew Kreiger
Andrew Kreiger began his trading career with Bankers Trust in 1986. Initially, the company’s trading limit for traders was only $50 million. With dedication and hard work, Kreiger was able to convince the firm that he is a skilled trader and got access to a larger trading capital.
In 1987, Kreiger made a risky bet on the New Zealand dollar. Needless to say, his prediction turned out correct, and he gained $300 million out of the trade.
Joe Lewis
With a net worth of $5 billion, Joe Lewis is another big name in the forex trading industry. The story of this UK-based trader is truly an inspirational one. He sold his family business to venture into currency trading. Although the decision was risky, it turned out to be beneficial for him.
Lewis has had the opportunity to work with Soros on the same profitable day. As per reports, he made a profit of $1.8 billion that day.
Paul Tudor Jones
Paul Tudor Jones was flooded with opportunities right after his graduation. But he rejected them all to follow his passion. He decided to get into commodity trading which proved to be the best decision of his life.
During the 1987 market crash, he decided to short the market. This helped him gain over $100 million. At present, his net worth is estimated at $5 billion.
Michael Marcus
Being one of the original members of the Commodities Corporation Company, Michael Marcus is a highly successful forex trader. He has mentored many other successful traders including Bruce Kovner.
During Ronald Reagan’s time, Marcus was the biggest trader in German markets. His position helped him gain nearly $300 million.
Axel Merk
Hailing from Switzerland, Axel Mark is the CIO and president of Merk Investments, a company founded by him in 1994. In 2001, he moved to the US to gain profits from long-term funds.
Throughout his career, he has made many accurate predictions. He is the one who predicted the explosion of gold prices in 2019.
Jim Simsons
Jim Simons is known as the “Quant King,” and the founder of Renaissance Technologies. Although he is a mathematician, his trading skills are on point.
He built a team of highly qualified professionals to run his company and retired in 2009. His company relies on advanced automation and trading algorithms.
Bruce Kovner
From being a taxi driver to a successful forex trader, Bruce Kovner has come a long way in his career. He began his trading career with his savings. Needless to say, it proved to be a good decision for him.
After years of trading, he is now a billionaire. His career journey shows that one can achieve anything with determination and hard work.
All these people are true examples of being successful. They have worked hard to reach the position they are in today. Today, they are an inspiration for millions of new traders.