5 Most Successful Forex Traders in South Africa revealed. What makes the YOUNGEST millionaire Successful with forex traders in South Africa?
These traders have perfected the art of trading forex and CFDs. Motivational and Educational, this is a must-read overview of the Most Successful Forex Traders in South Africa to date, with some upcoming traders to note.
Best Forex Traders in South Africa
| 👇 Traders Names | 📚Background | 🗄Success Evidence | 🏦FSCA Connection | 🤝Controversies |
| 1. Ref Wayne (Refiloe Nkele | Founder of African Forex Institute, created Pip Coin, mentors traders | Claims millionaire status by age 22 through forex and crypto lacks audited records | Promotes trading via regulated brokers Pip Coin unregistered | Pip Coin criticized as Ponzi-like scheme |
| 2. George Van Der Riet | Veteran trader; mentor to Sandile Shezi linked to TD Markets | Reportedly a millionaire lacks detailed verified performance data | Connected with FSCA-regulated broker TD Markets (FSP 48849) | Criminal history in the UK later shifted to trading mentorship |
| 3. Louis Tshakoane | Founder of Undercover Millionaire’s Currency, advocates financial literacy | Wealth from trading and education, no verified trading data | Operates in the FSCA-regulated environment | Has faced lawsuits and business-related controversies |
| 4. Nelisiwe Masango | CEO of Ubuntu Invest, Bear Run Investments, focuses on financial education for women | Financial educator and trader no published trading results | Likely engages FSCA-regulated brokers through company operations | Maintains a clean public image with no major controversies |
| 5. Kgopotso Mmutlane (DJ Coach) | CEO of Forex Broker Killer, author, philanthropist | Success attributed to self-reported trading and mentorship achievements | Advocates use of regulated brokers supports compliant trading | Known for aggressive marketing some question transparency |
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
5 Best Forex Traders in South Africa (2025)
1. Ref Wayne
- Ref Wayne, who uses his actual name Refiloe Nkele, established himself as a successful South African forex trader and entrepreneur from Meadowlands Soweto.
- He left high school in 2011 because he wanted to start trading, which offered fewer work prospects.
- His first success in making a million dollars happened when he was 19 years old, and he achieved multi-millionaire status at 22 through his currency and cryptocurrency trading activities.
- The African Forex Institute operates as his training facility for aspiring traders, while The Art of Trading teaches technical forex methods to his followers.
- Through his foundation named Ref Wayne, he created Pip Coin, which became recognized as South Africa’s first cryptocurrency and simultaneously established fundraising programs for supporting neglected young people.
Success Evidence:
Experienced analysts link Wayne’s money to forex trading and Pip Coin but estimate that his wealth exceeds one million dollars (however, the authorities did not officially verify most of the amount reports).
The African Forex Institute, established by Wayne, teaches many traders, while his book transactions generate wealth for him.
Trading records from his companies remain inaccessible to the public, and his business achievements mainly depend on media appearances and social media presence, and marketing himself.
His public visibility through social media features luxuries such as luxury cars alongside exclusive properties.
| 📌Attribute | 📍Details |
| 🧑💼Name | Ref Wayne |
| 💰Profession | Forex Trader & Entrepreneur |
| 🇿🇦Nationality | South African |
| 📈Notable Achievements | Founder of Ref Wayne Forex Academy |
| 📱Social Media | Active on Instagram and YouTube |
| 🎓Education | Self-taught in Forex Trading |
| 💹Focus Areas | Forex Trading, Mentorship |
| 🎤Public Speaking | Motivational Speaker |
| 🌟Philosophy | Sharing knowledge to uplift others |
2. George Van Der Riet
- George Van Der Riet is a prominent South African Forex trader and mentor known for his expertise and successful trading career. George has built substantial experience and knowledge about forex in finance and trading, which he shares through various educational platforms.
- He co-founded the Global Forex Institute to educate and empower aspirant traders with tools for success in Forex. Many traders have honed their skills under George’s mentorship and achieved financial independence.
- His contribution to education and accomplishments made him a respected figure among South African Forex community members. George Van Der Riet stands out as an accomplished South African Forex trader and a mentor whose mastery of trade is remarkable.
- Having worked in financial institutions forever, George is now one of those few who have made fortunes out of currencies. He became one of the founders of Global Forex Institute, which aims to enlighten and empower intending traders by offering them everything they need to make it big on Forex markets.
- As his mentees became financially independent individuals, they left behind paths indicating his success story. The South African FX enthusiast revered him because of his unwavering devotion to disseminating knowledge, coupled with impressive trading skills. George Van Der Riet has emerged as a leading figure within the Forex community in South Africa through his commitment to propagating educational programs and exemplary trading records.
- Currently, George Van Der Riet is leading the Global Forex Institute with Sandile Shezi. They both aim to help young people in South Africa gain more knowledge about the financial markets.
Success Evidence:
The trader stands as a millionaire from trading markets, yet lacks specific reporting data about his financial performance. Through his mentoring program, students have obtained financial freedom while working with the regulated brokerage TD Markets (FSP 48849).
| 📌Attribute | 📍Details |
| 🧑💼Name | George Van Der Riet |
| 💰Profession | Forex Trader & Entrepreneur |
| 🇿🇦Nationality | South African |
| 📈Notable Achievements | Co-founder of The Forex Trader Academy |
| 📱Social Media | Active on platforms like Instagram |
| 🎓Education | Background in Financial Markets |
| 💹Focus Areas | Forex Trading, Financial Education |
| 🎤Public Speaking | Educator and Speaker |
| 🌟Philosophy | Empowering individuals through trading knowledge |
3. Louis Jr. Tshakoane
- Louis Tshakoane is a young millionaire based in South Africa and the founder and president of Undercover Millionaire’s Currency. Louis Tshakoane’s goal was to create a network base for business people to communicate ideas and strategies, giving back to the community.
- World-renowned Prophetic Forex Trader Louis Jr Tshakoane has officially crossed R2+ million in revenue and sales from his latest book, Forex Millionaire in 365 Days by God’s Grace. The book has sold well thanks to his massive loyal African following gathered over the past five years, and 2000+ pre-ordered copies have been sold online.
- Louis Tshakoane has over 1 million social media followers on Facebook and Instagram. He has also started a free prophetic forex signals Telegram channel with over 5000 subscribers, providing forex signals for free to those who can’t afford the expensive premium signals on the market.
- Louis Tshakoane is a distinguished South African businessman, inspiring speaker, and Forex trader who has made a name for himself in the financial sector. He achieved great success while still very young, earning him a place among some of South Africa’s youngest millionaires.
- Undercover Millionaire’s Currency, founded by Louis, is an educational platform that trains aspiring traders and entrepreneurs. Despite enduring several lawsuits and controversies surrounding his business activities, Louis inspires many people through sheer determination. Moreover, Louis not only engages in trading; he is also involved in educating youngsters and advocating for financial literacy throughout the country.
Success Evidence:
His book “Forex Millionaire in 365 Days by God’s Grace” has crossed R2+ million in revenue, with over 2000 pre-ordered copies sold.
He has over 1 million social media followers and runs a free forex signals Telegram channel with over 5000 subscribers, indicating significant influence and wealth from education.
| 📌Attribute | 📍Details |
| 🧑💼Name | Louis Jr. Tshakoane |
| 💰Profession | Forex Trader & Entrepreneur |
| 🇿🇦Nationality | South African |
| 📈Notable Achievements | Founder of Louis Jr. Trading Academy |
| 📱Social Media | Active on platforms like Instagram |
| 🎓Education | Background in Business and Finance |
| 💹Focus Areas | Forex Trading, Financial Education |
| 🎤Public Speaking | Motivational Speaker |
| 🌟Philosophy | Empowering youth through trading skills |
4. Nelisiwe Masango
- The city of Johannesburg, South Africa, hosts a widely acclaimed female forex trader and entrepreneur, Nelisiwe Masango.
- During her high school years, she discovered her fascination for financial matters while still hoping to become a neurosurgeon.
- She discontinued her Entrepreneurial Management studies at university after a short period of enrollment to fully concentrate on forex trading.
- Masango launched Bear Run Investments in 2013 to help individuals trade forex and train them, but she later created Ubuntu Invest as CEO of the company, which she established in 2017.
- She operates Female and Finances to promote women’s financial literacy while simultaneously running Gentle Hands Agency as a recruitment organization.
- She earned the Frost & Sullivan African Growth Innovation & Leadership Award in 2017 due to her financial education work.
Success Evidence:
Forbes put Masango on their list of the wealthiest South Africans, according to a published report, although they fail to provide a specific source.
The trading operations under Masango’s banner generate vast earnings through training many trading professionals, including Bear Run Investments.
Information about her net worth remains undisclosed to the public, along with data about her trading activities, since she earns money from both educational courses and speaking appearances.
Her financial education programs at universities contribute to establishing her status as an educational expert in the field.
| 📌Attribute | 📍Details |
| 🧑💼Name | Nelisiwe Masango |
| 💰Profession | Forex Trader & Entrepreneur |
| 🇿🇦Nationality | South African |
| 📈Notable Achievements | Founder of Nelisiwe Masango Academy |
| 📱Social Media | Active on Instagram and Facebook |
| 🎓Education | Background in Finance and Economics |
| 💹Focus Areas | Forex Trading, Financial Literacy |
| 🎤Public Speaking | Speaker and Mentor |
| 🌟Philosophy | Inspiring others to achieve financial independence |
5. Kgopotso Mmutlane
- Kgopotso Mmutlane, also popularly known as “DJ Coach Tsekeleke,” is one of the youngest millionaires in South Africa.
- He hails from Motodi village, situated near Burgersfort Town in Limpopo Province. One of his several titles is Chief Executive Officer and founder of Forex Broker Killer Institution, which specializes in Forex trading. In addition to being a serial entrepreneur, he is also a philanthropist and an author, and, therefore, describes himself as such.
- He became famous for his forex market achievements and mentorship abilities. Mmutlane has developed an image of a successful trader who uses social media and other platforms to harmonize his informative sessions with motivational talks, thus catering to flashy living styles.
- As one travels from poverty to money in their life, it may have inspired unsuspecting people who want to be traders, not just in South Africa but also abroad.
- Even though he has received several backlashes, Mmutlane fights for the example of financial education and believes that the world can achieve independence through currency trading.
Success Evidence:
DJ Coach reports his wealth through self-made assessments from his trading activities and teaching others. Because of his role as CEO, the forex market acknowledges his achievements, yet it lacks disclosed quantitative data about his performance.
| 📌Attribute | 📍Details |
| 🧑💼Name | Kgopotso Mmutlane |
| 💰Profession | Forex Trader & Entrepreneur |
| 🇿🇦Nationality | South African |
| 📈Notable Achievements | Founder of Kgopotso Trading Academy |
| 📱Social Media | Active on platforms like Instagram |
| 🎓Education | Background in Business Management |
| 💹Focus Areas | Forex Trading, Financial Education |
| 🎤Public Speaking | Motivational Speaker |
| 🌟Philosophy | Empowering individuals through financial knowledge |
Challenges faced by South African traders
Here’s the table summarizing the challenges faced by South African traders:
| 📋Category | 📝Description |
| 📉Challenges Faced by South African Traders | Market Volatility: High market fluctuations can lead to significant losses. Access to Resources: Limited access to advanced trading tools and educational resources. Connectivity Issues: Internet connectivity problems can disrupt trading activities. Currency Fluctuations: Exchange rate volatility can affect trading profits. Economic Instability: Political and economic uncertainties in South Africa impact market stability. |
| 📈Regulatory Environment | FSCA (Financial Sector Conduct Authority): Regulates financial markets in South Africa to ensure fair trading practices. Compliance Requirements: Brokers must adhere to strict regulatory standards. Consumer Protection: Emphasis on protecting traders from fraudulent activities and ensuring transparent operations. |
| 📍Risk Warnings | High Risk: Forex trading involves significant risk of loss, and traders may lose more than their initial investment. Market Uncertainty: Unpredictable market movements can lead to rapid losses. Leverage Risks: High leverage can magnify both gains and losses. |
| 📌Psychological Aspects | Emotional Control: Managing emotions such as fear and greed is crucial for successful trading. Discipline: Maintaining a disciplined approach to trading strategies and risk management. Stress Management: High-pressure situations require effective stress management techniques. Patience: Patience is essential for waiting for the right trading opportunities and avoiding impulsive decisions. |
Forex trading strategies
There are many different forex trading strategies, but some of the most popular include:
- Trend trading: This strategy involves buying currencies in a strong uptrend and selling currencies in a strong downtrend.
- Range trading: This strategy involves buying and selling currencies within a certain price range.
- Carry trade: This strategy involves borrowing a low-yielding currency and investing it in a high-yielding currency.
Technical analysis
Technical analysis is a method of forecasting price movements based on chart patterns. Some of the most common technical indicators include:
- Moving averages: These are lines that show the average price of a currency over a certain period.
- Relative strength index (RSI) measures whether a currency is overbought or oversold.
- Bollinger Bands: These are bands that show the volatility of a currency.
Risk management
Risk management is essential for forex trading, as it can help protect your capital from losses. Some of the most important risk management techniques include:
- Using stop-loss orders: These are orders that automatically sell a currency if it reaches a certain price.
- Setting position sizes: This is the amount of money you risk on each trade.
- Diversifying your portfolio means investing in various currencies to reduce your risk.
Psychology of trading
The psychology of trading is important for managing emotions and avoiding costly mistakes. Some of the most important psychological aspects of trading include:
- Discipline: Sticking to your trading plan and not letting your emotions get the better of you is important.
- Patience: It takes time to become a successful forex trader. Don’t expect to get rich quickly.
- Greed: Greed can lead to overtrading and making poor decisions.
Successful Forex Traders
| 🧑💼 Name | 💰 Estimated Net Worth | ⚖️ Legal/Ethical Status | 📈 Notable Claims & Status |
| 🧙♂️ Ref Wayne (Refiloe Nkele) | ~R500 million | No known legal issues | Claimed creator of Pipcoin claims disputed widely followed |
| 💼 George Van Der Riet | ~R100 million | No major issues reported | Co-founder of Global Forex Institute with Sandile Shezi |
| 🧠 Louis Tshakoane | ~R50 million | Arrested (2023) for fraud | Known for leadership programs currently under legal investigation |
| 💹 Nelisiwe Masango | ~R20–R30 million | No major issues reported | Recognized for women empowerment in trading & investment |
| 🎧 Kgopotso Mmutlane (DJ Coach) | ~R40 million | No known legal issues | Founder of Forex Broker Killer very active on social media |
Who is the most successful Forex trader in South Africa?
There are some really great forex traders in South Africa who have shown tremendous skill and discipline. Many of them are celebrated as kings in the volatile forex market.
Characteristics of Successful South African Forex Traders:
- Patience and Discipline: To them, trading is the marathon, not the sprint.
- Strong Risk Management: Minimizing losses is as important as maximizing gains.
- Continuous Learning: They have kept their eyes on the general trends in global markets and continually upgraded their strategies.
Key Strategies for Forex Trading Success
Combining technical skills, emotional discipline, and a proper trading plan is what differentiates a successful forex trader from a failure. Here are the key strategies adopted by the successful traders of South Africa:
1. Master the Basics
Understand the fundamentals of forex trading before investment, like currency pairs, market trends, and technical indicators.
2. Devise a Trading Plan
A well-structured trading plan is one that clearly denotes entry and exit points.
Predefined risk/reward ratios.
A commitment to adhering to the plan regardless of emotions.
3. Forefront Risk Management
Never risk more than 1-2% of your trading capital on one trade.
Enter stop-loss to limit potential losses.
4. Utilize Robust Trading Platforms
Choose a well-regarded and regulated broker offering user-friendly platforms, tight spreads, and good support.
5. Continuous Learning
Forex trading is a constantly changing field. Learn continuously through reading books, attending webinars, or following market updates.
Conclusion
Overall, the 8 Best Forex Traders in South Africa is a great example of the popularity of Forex trading. The country represents one of the best places for traders to start and have a successful trading career.
Frequently Asked Questions
How much do successful traders in South Africa make per day?
Many successful South African forex traders make between $1000-$5000 per day (R 15 000 – R 75 000 ZAR) at the current exchange rate at the time of writing; however, it is recorded that the average trader in South Africa makes about $50 / ZAR 433 a day.
Will I have to pay tax on my forex earnings in South Africa?
Yes, forex earnings, including profits generated from offshore forex trading accounts, are subject to tax in South Africa.
How do I become a successful trader?
Some basic steps include: Familiarize yourself with the Forex “lingo “by doing your homework before selecting a broker and selecting the one that best suits your needs; Learn as much as you can about the world economy; and Practice, practice, and practice with a demo account before trading with a real live account.
Can you become rich with forex trading?
Yes, you can become rich by trading Forex. However, it is also well-known that about 90-95% of traders lose money.
Who is the youngest forex trader in South Africa?
Sandile Shezi has successfully learned how to trade currencies, and at just 23, he’s become one of the youngest multi-millionaires in the country.
Has anyone become a millionaire from Forex?
Forex trading has indeed made millionaires out of some individuals.
Who are the most successful Forex traders in South Africa?
Some of the most well-known and successful Forex traders from South Africa include:
- Sandile Shezi
- Jabulani Ngcobo (a.k.a. Cashflow Ngcobo)
- Ref Wayne
- Nelisiwe Masango
- George Van der Riet
How did Sandile Shezi become successful in Forex trading?
Sandile Shezi started trading at a young age and took the bold step of using his tuition money to invest in Forex. Despite early risks, he gained success through persistence and later co-founded the Global Forex Institute to train others.
Is Ref Wayne really a millionaire from Forex trading?
Yes, Ref Wayne is widely regarded as one of South Africa’s youngest Forex millionaires. He is also known for developing the African cryptocurrency “Pipcoin” and is an advocate for financial literacy and wealth empowerment through trading.
What trading approach does George Van der Riet use?
George Van der Riet is known for his disciplined trading strategy, combining technical and fundamental analysis.
Are there any successful female Forex traders in South Africa?
Yes, Nelisiwe Masango is a prominent female Forex trader in South Africa.
