10 Most Successful Forex Traders in South Africa

10 Most Successful Forex Traders in South Africa

Forex trading is inherently risky, but it has also allowed many individuals to become millionaires over time. Some may think that forex traders are successful because they are “lucky”, and that they manage to enter the market at just the right time.

The forex market does not operate according to luck, which is something that is more closely associated with gambling than with forex trading. However, the premise surrounding entering the market at the right time is true.

One of the components that makes a successful trader involves knowing when to enter and exit the market.

To do this, traders need a solid trading strategy, and they need key indicators that will notify them when to enter, where to place their risk management tools, and when they should take their profits/losses and exit from the market.

Timing is an important component in successful forex trading, but it is not the only one.

Below we will discover other factors to consider in becoming a successful forex trader. We will also take a look at the 10 most successful forex traders in South Africa.
10 Most Successful Forex Traders in South Africa

What does it take to become a successful trader?

The process involved with becoming a successful trader does not happen overnight and it is not by some stroke of luck. To become a successful trader, individuals must work through educational materials, tutorials, and other resources to learn about forex trading.

Traders need to dissect the entire process surrounding forex trading to find a trading strategy that works for them. Trading is not always only about making profits, but also about minimising the losses that traders may face at every turn in the forex market.

To become a successful forex trader there are a few factors to consider:

  • Traders must set aside unrealistic expectations because forex trading requires complete dedication, patience, and consistent hard work, much like starting a business. Forex trading is not a “get-rich-quick” scheme, it takes time, practice, the right mindset, and a solid trading strategy.
  • Forex trading involves mitigating and managing the trading risks that traders face in the financial markets, identifying areas where they are at risk of incurring a loss and taking the necessary steps to manage their risk exposure effectively.
  • Traders need a solid, proven trading strategy that they can use according to their unique trading style and the overall market conditions on the trading day.
  • Traders must control their emotions when they trade forex. Therefore, traders must have a thorough understanding of trading psychology, how it affects their trading and how they can manage it.
  • Traders must be familiar with, and use, the risk management tools at their disposal including stop-loss and take-profit orders. Traders also need to explore auto trading options that could make the process much easier, further helping them eliminate risks.
  • Traders must remain updated on the latest news and economic events that could affect their trading on any trading day. 
  • Using a combination of technical analysis and fundamental analysis can go a long way in covering several aspects that traders must consider.

10 Successful Forex Traders in South Africa

South Africa is home to some of the most successful traders in the world today, and below we will explore who they are, how they got to where they are, and what they are actively involved in after achieving success.


Nelisiwe Masango

Nelisiwe Masango is a well-known name in many forex circles as a young entrepreneur and an award-winning forex trader.

She is the CEO and founder of Bear Run investments, a training company that aims to help underprivileged communities access financial programs and packages that are both affordable
and that can stimulate and maintain financial growth.

After completing high school, Masango applied for a Bachelor of Commerce Degree in Entrepreneurial Management. However, after her first year at university, she decided to venture
into the foreign exchange market where she achieved significant success.

Her company was launched in 2013 and it is still making a difference in the lives of many South African communities, providing people with the tools to take their financial freedom
into their own hands. 

In addition to Bear Run Investments, Masango is also actively involved in another business venture, Gentle Hands Agency, a recruitment company that aims to create and provide job

Sandile Shezi

Sandile Shezi is one of the richest forex traders in South Africa in addition to being a strategically successful and sound forex trader. Sandile’s story has humble beginnings in a rural community while he was still attending school.

Instead of paying his tuition, he saved these funds and put them towards forex trading. His initial investment earned him a fair amount of profit, and he quickly became one of the best forex traders in South Africa.

Sandile Shezi is the owner of Global Forex Institute, where he aims to provide young South African entrepreneurs with fundamental knowledge and understanding of forex trading in South Africa.

He also teaches new traders how to understand different financial markets, the tools that they can use, how to create powerful trading strategies, and how to pave the way toward becoming successful traders.

Ref Wayne

Ref Wayne is considered the best and most successful trader in South Africa who has developed the necessary trading skills to conquer the financial markets.

Ref Wayne started trading from an extremely young age after struggling with a lack of career development opportunities. This encouraged him to throw himself into forex trading and it allowed him to become a multi-millionaire and to feature in the ranks alongside other successful South African traders.

Ref Wayne was only 22 years old when he achieved success and his endeavours led him down the cryptocurrency road as well. Ref Wayne created the first South African cryptocurrency namely Pip Coin.


In addition, he is also the founder of the African Forex Institute, and he often releases free forex trading lessons to those in rural communities.

George van der Riet

George van der Riet is a successful South African trader and one of Sandile Shezi’s top mentors. George van der Riet is a renowned forex trader who has years of experience in trading financial markets, using proven and solid trading strategies alongside risk management tools and protocols.

However, while George van der Riet faced a difficult time in his life where he was involved in crime and sentenced to jail in London, he returned to South Africa and quickly turned a small investment in TD Markets to make him a millionaire.

Jabulani Ngcobo

Also known as Jabulani “Cashflow” Ngcobo, Jabulani is a mature player in the forex market in South Africa and one of the earliest successful traders who made a name for himself in the financial markets.

Jabulani Ngcobo faced several controversies and was involved in dealings that sent him to jail for some time. Today, he is an active motivational speaker, and he manages CashFlow Pro that has helped many students achieve their goals in the forex market, amidst other financial markets.

Shaun Benjamin

Shaun Benjamin is another familiar name who became a millionaire at 21 years old. Shaun Benjamin was raised by his mother and faced many challenges growing up.

Shaun Benjamin started trading forex and found a steady income stream for himself. This allowed him to leave his full-time employment to pursue a professional career as a South African forex trader.

Shaun Benjamin went on to establish the Benjamin Forex Academy where he started teaching other young individuals about the forex market.

Simz D’ Mandla

Simz D’ Mandla is a multi-millionaire forex trader who traces his early life to Tembisa where he was born. Raised in Midrand, Gauteng, Simz D’ Mandla is another South African forex trader who saw potential in speculative forex exchange trading.

He established Trade4Africa.org and today, he is a forex analyst, active forex trader, wealth coach, motivational speaker, angel investor, business strategist, and one of the youngest self-made millionaires in South Africa.

Paballo Nkwe and Danielle Lester

Known as one of the most powerful forex trading duos in Africa, Paballo Nkwe and Danielle Lester are game-changers in the forex industry in South Africa.

Both started trading forex in their 20s and they work together to change the lives of many forex traders in rural settings. They are not only successful traders in South Africa, but they also pride themselves in being mentors.

Paballo Nkwe and Danielle Lester have an incubation program that allows them to visit women in universities across the country, teaching them the fundamental skills and knowledge that they need to help them develop financial intelligence that will allow them to gain financial freedom through forex trading.

Louis Tshakoane Junior

Louis Tshakoane Junior is one of the most successful individuals in South Africa and one of few who can trace his success to his teenage years. Louis Tshakoane started his first business, Botho Gym when he was a teenager with help from Sir Richard Branson.

The gym was started to give back to the Tembisa community and to help other youngsters stay away from crime, drugs, and alcohol abuse.

Louis Tshakoane has an impressive job profile, and he has experience in working for UBS and Lamborghini, establishing networks that would later help him in his endeavours.


Louis Tshakoane later developed Undercover Millionaires, a network that consists of business individuals who work together to change the lives of others and give back to less fortunate communities.


Yes, forex trading is legal in South Africa.

Forex trading can be profitable but there are no guarantees that it will make you wealthy. It takes time, dedication, and hard work to become profitable in forex trading and to earn from trading the financial markets strategically while minimising the chance of loss.

Forex trading is a popular activity in South Africa, and it can benefit investors who take the time to learn how to trade forex.

No, the forex market has a low barrier for entry and hundreds of forex brokers accept forex traders from South Africa, allowing them to start trading with low capital.

There is no holy grail of trading strategies that you can use in currency markets that will make you rich. It takes a combination of factors to achieve success in the forex market.

10 Best Volatility 75 Index Forex Brokers in South Africa

10 Best Volatility 75 Index Forex Brokers in South Africa

The Volatility 75 Index (VIX) is an index that measures and tracks the volatility of the Standards and Poor’s 500 (S&P 500), one of the most prominent stock market indexes
in the world, which has a value from between 0 and up to 100.

A low number on the index indicates low volatility and a higher number subsequently represents higher volatility. When there is a reading below 30 on the index, it means that market
conditions are calm whereas any number below 20 shows a complacent market.

We discuss the 10 best Volatility 75 Index Forex brokers in South Africa.

The VIX has a very limited range, and this makes it the perfect financial instrument for a wide range of trading strategies. Two of the most popular trading strategies that traders use when they trade VIX includes:

  • The Bearish VIX Strategy focuses on selling and to do so, the VIX must be above 40 because volatility is likely to decrease after some time.
  • The Bullish VIX Strategy is based on the idea that volatility will return to the financial market and will cause the VIX to increase. This is the perfect strategy to use when the VIX is below 20 points.

One of the reasons why traders fail when they trade VIX relates to incorrect market timing. To trade VIX profitably, traders must possess the necessary knowledge, skills, and experience to know when to execute and close trades.

When traders can conquer the basic principles surrounding trading the VIX, they can perfectly time their open positions at the breakout or reversal points. When traders use various candlestick patterns, they can obtain indications of the correct time to enter a profitable trade and exit when they reach their goal profit target.

10 Best Volatility 75 Index Forex Brokers in South Africa

IFX Brokers


IFX Brokers was established in 2018 and it is a popular ECN forex broker in South Africa that provides flexible trading solutions to beginner as well as professional traders.

IFX Brokers facilitates the trade across different financial instruments and offers the advantage of one-stop trading and a plethora of investing opportunities to retail traders as well as institutional investors.

IFX Brokers offers competitive trading conditions and innovative trading platforms with the benefit that traders can expect tailor-made trading solutions, education, and advanced trading tools.

Pros and Cons


MetaTrader suite supported

Educational resources provided

A wide range of advanced trading tools offered

A choice between several financial instruments that can be traded

Competitive trading conditions offered

Well-regulated broker

10 Best Forex Brokers in Namibia

IC Markets


Established in 2007, IC Markets is one of the largest true ECN forex brokers in the world that provides advanced trading solutions and user-friendly trading platforms. IC Markets caters for both beginner traders as well as professional retail investors, providing them access to over 230 tradeable financial instruments.

IC Markets also offers access to some of the best liquidity providers in the industry, hand-picked by the IC Markets team and added to an ever-expanding list. IC Markets offers tailor-made solutions that will cater for retail traders and professional investors’ needs and objectives.

Pros and Cons


Well-regulated by reputable market regulators

Low trading as well as non-trading costs

Tight variable spreads are offered

Welcomes a range of trading strategies and trading styles such as hedging and scalping

Social trading opportunities are offered

Offers flexible and powerful trading platforms


US clients are not accepted

There are no fixed spreads offered



Founded in 2010, Pepperstone is one of the largest and most trusted forex brokers in the industry. Pepperstone is a well-regulated and well-established ECN and STP forex broker that is based in the United Kingdom and Australia, with corresponding regulation and authorisation through reputable licensing entities and market regulators.

Pepperstone offers some of the best and most competitive trading conditions in the industry, catering to both beginner and professional traders. Traders can trade a wide range of financial instruments including forex pairs, indices, CFDs, and more.

Pros and Cons


Well-regulated by reputable entities

Pepperstone is an award-winning broker

Excellent customer service offered

Social trading opportunities provided

All trading styles are welcome

Low variable spreads offered


US clients are not allowed

Fixed spread accounts are not provided



HotForex is another popular and reputable broker with multi-regulation to offer comprehensive trading solutions in several jurisdictions around the world. HotForex facilitates the trade in a wide range of financial instruments that are spread across several asset classes.

HotForex is the brand name of HF Markets (Europe) Ltd and there is an immense emphasis on client fund security and providing traders with a fair, safe, and transparent trading environment.

Pros and Cons


Strong international presence

A range of bonuses and promotions are offered

Competitive trading conditions provided

A choice between different retail investor accounts

Tight variable spreads and commission-free trading options are offered

Islamic accounts and demo accounts offered


US clients are not accepted



AvaTrade is one of the most popular trading brokers in the world, with regulation through several entities including ASIC, FSCA, FFAJ, IIROC, and several others. This provides AvaTrade with the permission that it needs to offer comprehensive trading solutions to traders from around the world.

Traders can trade over 1,250 financial instruments that are spread across several asset classes. While AvaTrade only offers one retail trading account, this account is feature-rich and flexible, catering for both beginner traders as well as experienced traders.

AvaTrade also offers a range of trading tools, educational sources, and excellent customer service that is available through several communication channels.

Pros and Cons


Multi-asset and multi-regulated broker with a good reputation

Client fund security is guaranteed

Fast and reliable trade execution is guaranteed

Perfect for beginner and experienced traders

Offers professional traders a dedicated account and countless benefits

Social trading opportunities provided


Spreads are not the tightest

Variable spreads are not offered

There is only one retail investor account offered for retail traders and one for professional traders

CMC Markets


Established in 1989, CMC Markets is a well-regulated and reputable online trading broker that is regulated by several reputable market regulators. CMC Markets is well-known for its competitive trading conditions and flexible trading solutions.

CMC Markets offers a wide range of trading instruments to retail and institutional clients. Traders can use powerful and flexible trading platforms through which they can trade and conduct technical analysis, fundamental analysis, and more.

Pros and Cons


Innovative trading technology offered

No minimum deposit requirements

Segregated client funds and several security protocols

Multi-regulated and reputable

Competitive variable spreads offered

Offers a wide range of tradeable instruments


Managed accounts are not offered

Fixed spreads are not provided

Spreads are marked-up to include broker fees

US clients are not accepted

Social trading and copy trading is not offered



IG is another large, prominent trading provider that is regulated in several jurisdictions, with offices in the United States, Switzerland, UAE, Singapore, Japan, South Africa, and others. IG offers comprehensive trading solutions to both beginner traders and professional investors.

Traders have access to more than 17,000 financial instruments that can be traded through flexible trading platforms. Traders also have a choice in retail investor accounts and access to advanced trading tools, educational sources, and more.

Pros and Cons


Well-regulated broker

Offers over 17,000 tradable instruments

Competitive trading conditions offered

Longstanding reputation in offering flexible trading solutions

A choice in retail investor accounts offered

Powerful trading platforms offered


High minimum deposit requirement

Interactive Brokers


Interactive Brokers is a multi-asset and reputable trading broker that is well-regulated in several jurisdictions around the world. It is one of the largest online brokers that cater for all types of traders regardless of their trading experience, needs, objectives, or trading styles.

Interactive Brokers offers a wide range of tradable instruments spread across different currency pairs including major currencies, minor and exotic currencies, commodities, indices, and several CFDs, amongst numerous others.

Pros and Cons


Multi-regulated broker with flexible trading solutions

Offers a choice between different investor trading accounts

Innovative and powerful proprietary trading platforms offered

Competitive trading conditions offered

A variety of trading tools offered

Offers educational materials and resources


Fixed spreads are not offered

Restricted leverage for some regions

No Islamic accounts

No MetaTrader platforms



eToro is one of the best trading providers in addition to being the leading online social trading platform in the industry, offering the use of its user-friendly, flexible proprietary trading platforms.

eToro has traders from around the world that use its comprehensive trading solutions and competitive trading conditions. eToro offers a suite of tradable instruments that can be traded, and traders can expect tight spreads, commission-free trading, and a wide range of advanced trading tools and education.

Pros and Cons


Well-regulated broker

Commission-free trading offered

Large online community provided

There is a powerful social trading platform offered

Several financial markets offered

Popular and trusted broker


MetaTrader trading platforms are not supported

US clients are not accepted



Plus500 is another reputable online forex and CFD trading broker that offers flexible trading solutions to traders from around the world. Plus500 offers more than 2,000 financial instruments that can be traded through powerful proprietary trading platforms across several devices.

Plus500 offers unique and tailor-made solutions to both beginner and professional traders and investors alike, despite their unique trading styles or trading strategies.

Pros and Cons


Well-regulated broker

Offers more than 2,000 financial instruments

Offers competitive trading conditions

Decent maximum leverage provided

24/7 multilingual customer service provided

Powerful proprietary trading platform provided


Limited account types offered

MetaTrader trading platforms not supported

Restricted funding options


Volatility trading refers to trading strategies that traders use to trade during times of volatile market conditions.

This will require that you evaluate the regulation, commissions and fees, trading accounts, and all other components that you would normally use to evaluate any other broker.

An index can be defined as a portfolio that contains stocks that represent a certain market or a sector in the market. This means that when traders trade indices, they can trade a group of shares that give them exposure to a large sector in a single trading position.

The best time to trade the volatility 75 index is when prices react to previous support or resistance levels that exist in the stock markets and in the index itself.

It can be traded to profit from changes in volatility in stock markets in addition to allowing traders to hedge their positions.