10 Most Successful Forex Traders
1. George Soros
George Soros was born on August 12th, 1930 in Budapest, Hungary. If you’re a trader or an aspiring trader, then this name should already ring a bell to you. He is known as “the man who broke the Bank of England” due to his unforgettable short trade back in 1992. His short sell of 10 billion pounds sterling brought him earnings of 1 billion dollars in just one day! This bet against the United Kingdom’s currency not only did it bring him worldwide fame, but the government of the United Kingdom was forced to withdraw the Pound Sterling from the European Foreign Exchange.
2. Bruce Kovner
Bruce Kovner an investor from Brooklyn, New York, made his first trade at the age of 32 and it turned out to be the most successful one, as his purchase of soybean future contracts brought him a $23,000 profit! Imagine having $3000 on your Master Card credit card and one day you decide to purchase soybean future contracts with it and become one of the most famous traders in the world.
3. Stanley Druckenmiller
Born in June 14th, 1953 in Pittsburgh, Pennsylvania, Stanley Druckenmiller started his financial career in 1977 at the Pittsburgh bank. After an exhaustive monitoring of the German Mark course, he realized that the German currency was extremely undervalued; therefore, it was a great opportunity to make a purchase. The long position in German Marks for a multi-million sum was the one that made him one of the most successful traders globally.
4. Bill Lipschutz
Bill Lipschutz is the master of Forex trading! He began trading forex in college after inheriting $12000 from his grandmother’s death. He quickly turned that sum into $250,000! Even if this was the trade that made him a guru in the Forex trading world, he continued his passion with other massive successes.
5. Michael Marcus
The trade that brought him the loudest success happened during Ronald Reagan’s presidency when he held positions in German Marks and turned his initial $30,000 into $80 million. People from this industry call him the largest currency trader in the world, along with banks.
6. Andrew Krieger
Made history with Kiwi. Well, he didn’t make history in the forex world by trading kiwi, but the New Zealand Dollar (NZD), commonly known under the nickname ‘kiwi’. He analyzed the course of Black Monday and noticed how undervalued the NZD was, hence, he decided to place a strong short sale. This trade resulted in 300 million dollars in earnings.
7. Paul Tudor Jones
Paul Tudor Jones is one of the most vibrant personalities from this industry and a true inspiration. He is an American investor, hedge fund manager, widely known for his macro trading and the continual successes he had on the Forex exchange market.
8. Urs Schwarzenbach
Swiss investor was born with the mind of a genius trader. He started trading on the Forex market at the age of 24 and after a numerous successful trades he started his own company: Intex Exchange. He became famous worldwide once his company obtained hundreds of millions of Swiss Francs (CHF) in earnings.
9. Joe Lewis
Joe Lewis against the Mexican Peso Nowadays, he’s still on the Forbes list of billionaires. He started his trading career from a young age, but one trade in particular made him one of the best in the industry. In 1994, Mexico was in a bad financial state making the value of the Mexican Peso to decrease. Fortunately, Joe Lewis saw the opportunity after rigorously analyzing the market and made a short sale against the Mexican Peso and the results, we can still see them nowadays.
10. Michael Steinhardt
Another Forbes billionaire, Steinhardt is known for having managed to maintain a 24% compound annual growth rate for a period of 28 years by using all possible financial instruments, such as: Forex, stocks, bonds, long and short options.
Considering the stories of the top 10 most successful forex traders in the whole world, success and profit come with a lot of hard work, risks, information and a lot of courage. Don’t be afraid to try it! The first step is to find the right online broker for your needs and after that, you either go big or go home!