There are many types of traders, from those professionally employed to retail traders hoping that they might turn a trading hobby into a lucrative income stream.
Here’s a little about some of the most successful forex traders in the world today. Remember – these are estimates of their net worth only.
Top Richest Forex Traders in The World
Some of the richest forex traders in the world include:
1- George Soros ($8.6 billion)
2- Paul Tudor Jones ($7 billion)
3- Bruce Konver ($6.2 billion)
4- Andrew Krieger
5- Bill Lipschutz (3 billion)
6- Larry Hite ($100 million)
7- Jack Schwager
8- Alexander Elder
George Soros:
When we talk about the wealthiest traders in the world, the first name that usually comes to mind is George Soros. He began trading while he was a student, and developed a strategy of using high leverage based on currency movements. In 1992, he became known as the “man who broke the Bank of England” due to his short sale of $10 billion worth of pounds sterling, which made him a profit of a shocking $1 billion.
His net worth is reported to be circa $8.6 billion, so he is currently the most affluent forex trader.
Paul Tudor Jones:
Paul Tudor Jones is also known as one of the wealthiest traders in the world. After graduating in economics from the University of Virginia in 1976, Jones turned down the opportunity to attend Harvard School of Business to focus on trading. This decision proved to work in his favor when he predicted and profited from the 1987 stock market crash, earning an estimated $100 million.
In 1980, he founded the hedge fund Tudor Investment Corporation, an asset management firm. Eight years later he launched the Robin Hood Foundation, which focuses on reducing poverty In New York city.
Bruce Konver:
Bruce Konver made the transition from cab driver to billionaire. In 1977 at just 32, he earned $10,000 from his first two trades. He also turned 3000 credit dollars into $20,000 during the early years.
Kovner is the Founder of Caxton Associates, a global macro hedge fund. He focused on forex trade and forex futures and was known as a super trader.
Between 1978 and 1987, his average yearly return rate was an incredible 87%, which earned him the nickname of ‘Market Wizard’.
As of 2022, he has an estimated net worth of $6.2 billion.
Andrew Krieger:
Krieger has over 30 years of experience in the markets, and is known for having a particularly aggressive trading style.
In 1986, he joined Bankers Trust where he made the legendary short trade against the New Zealand dollar. Within just a few hours of opening this vast short position, the New Zealand dollar against the US dollar crashed 5%. The result? Krieger earned $300 million for Bankers Trust and $3 million for himself.
Bill Lipschutz:
Bill Lipschutz studied Architectural Design before entering the world of forex trading. He initially turned his $12,000 inheritance into $250,000 through stock trading. After this, he turned to currencies.
As his career evolved, he joined Salomon Brothers. By 1984, he earned almost 300 million dollars for the firm. Lipschutz later founded the Hathersage Capital Management firm, which specializes in G10 FX to this day.
Larry Hite:
He is an author and fund manager, and his colleague ED Seykota was a founder of system trading.
Hite founded the world’s largest trading company in terms of the volume of assets under management. He achieved this feat nine years after co-founding Min Investments company.
Another member on the list, Jack Schwager, dedicated a chapter in his book risk management to Larry’s trading philosophy. Hite also contributed to several financial publications and developed several products and financial engineering innovations, adding to his accolades.
Regarded by many of the founders of the contemporary stock exchanges trade, after three full decades of success, he chooses to focus his attention on his office. In addition to his success in trading, he participates in charity work.
Jack Schwager:
Schwager is the one of the founders of Fund Seeder (FundSeeder.com), a unique platform designed to identify trading talent worldwide and connect them with sources of investment capital. He is also a famous author and wrote several books on trading, such as Market Wizard, in which he referred to the previously mentioned Larry Hite.
He has written over 100 books on hedge funds, technical analysis, commodities and trading in general throughout his career.
As an economist and mathematician with decades of experience, he frequently speaks at seminars, conferences and lectures on various analytical topics.
Alexander Elder:
Elder is a professional trader and author born in the Soviet Union who later moved to New York.
He previously worked as a psychiatrist, which gave him a unique insight into trading psychology.
Elder stands as one of the wealthiest traders in the forex world with extensive knowledge of market psychology and technical analysis.
As a trading bible for the millennium, his book “Come Into My Trading Room” was a bestseller
What You Might Need To Become Successful in Forex Trading?
While of course these traders and their success is inspirational, it’s vital to remember that these are top-performers – and such success is very rare. Trading is risky, which is why you should never risk more capital than you can afford to lose.
To enhance your chance of profiting through forex trading, it’s key to prioritize risk management techniques, repeatedly practicing your strategies and learning as much as you can about trading.
While of course these traders and their success is inspirational, it’s vital to remember that these are top-performers – and such success is very rare. Trading is risky, which is why you should never risk more capital than you can afford to lose.
To enhance your chance of profiting through forex trading, it’s key to prioritize risk management techniques, repeatedly practicing your strategies and learning as much as you can about trading.
It’s also crucial to trade with a broker that offers excellent trading conditions, including trading platforms, trustworthy account funding methods and a wide range of trading products. All of these are offered by tixee, an international and multi-award-winning broker specializing in forex and CFD trading.
