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Have you ever imagined that forex trading could make you rich? The following people have proven it. They managed to become the richest forex traders.
Indeed, who are some of the richest forex traders in the world?
An estimate from the Bank for National Settlements (BIS) stated that the trading volume in the foreign exchange market or forex market in April 2019 reached more than 6.6 trillion US dollars per day. So it's no surprise that many new traders are emerging and interested in making a profit by trading forex.
Even if you are a new trader, don't be discouraged. There is already a lot of forex trading education information that you can use to continue honing your trading skills.
Before you start getting serious about learning, let's start by giving you inspiration and motivation by knowing the following list of the richest forex traders in the world. Before proceeding to George Soros' discussion, the contents of the Trader Assessment from GIC are right!
1. George Soros
Have you ever heard of the name George Soros? His name is quite famous all over the world, especially during the financial crisis in Asia, especially in Indonesia. If you've never known him, let's get to know him. George Soros is one of the richest people in the United States, according to Forbes, the total wealth of this forex trader is ranked 56th and 162nd globally.
The Hungarian-born world's richest forex trader is the founder and owner of Soros Fund Management. Soros and American businessman Jim Rogers, founded a global investment management company or hedge fund called Quantum Group of Funds. In the British banking crisis, the company raked in £1 billion.
Quoted from Business Insider, Quantum Fund is the most successful investment fund management company in the world. Investors get an average of 30 percent of the assets they entrust to Soros. According to a Daily Telegraph report, Soros predicted a devaluation of the pound sterling and expected profits.
Soros's estimate was proven, the value of the British currency, which was originally high, immediately fell. From his speculations, Soros made a profit of more than US$ 1 billion and managed to make him one of the richest forex traders while also earning him the title of 'the man who bankrupt the Bank of England'.
2. Bill Lipschutz
The next richest forex trader is Bill Lipschutz. Bill Lipschutz was born and raised in Farmingdale, New York. He is a leading professional trader in the forex market and was awarded the Trader Monthly Hall of Fame in 2006. Lipschutz is also co-founder and director of portfolio management at Hathersage Capital Management.
The story of Lipschutz entering the forex market is quite interesting, starting from obtaining an inheritance from his grandmother in the form of trading accounts of 100 types of stocks from various brokers that are still open or have not been liquidated worth USD 12,000.
Grandma Lipschutz was an active stock trader. Lipschutz eventually found out that the grandmother did not apply risk management properly, so she would incur losses if she liquidated. Then, Lipschutz delved deeper into risk management and read everything about the market conditions at the time.
But then, he was more interested in the forex market. Bill Lipschutz managed to grow his grandmother's inheritance to USD 250,000, but unfortunately the funds did not last long. Bill Lipschutz immediately tested several trading strategies with an emphasis on risk control, through the division of the portfolio of currency pairs accordingly.
In addition, he pays close attention to the risk/reward ratio factor every time he trades. After that, Bill Lipschutz's trading account improved again and continued to grow from time to time. Bill Lipschutz is known as 'The Sultan of Currencies' and is one of the richest forex traders as well as a successful forex trader who is a role model for many traders.
3. Joe Lewis
If you're a football fan, you're probably familiar with the name Joe Lewis. Joe Lewis is the owner of Tottenham Hotspur. The team, nicknamed 'The Spurs' or 'The Lilywhites', is an English league football club originating from the north London area. Joe Lewis is one of the richest investors and traders in the United Kingdom, with a total wealth of £4.358 billion.
Through his company, he ventured into various business investment sectors and made his name even more famous as an accomplished investor in the United Kingdom. He earned the nickname 'The Boxer' because of his similarity with a heavyweight US boxing legend, Joe Louis. Joe Lewis himself is also known as a 'heavyweight investor' with large capital and is the richest forex trader.
In 1979, he took a big step by selling all his family business assets. He then used the funds from the sale to trade forex and invest. In the same year, he decided to move to the Bahamas and began to study the basics of trading and investing.
Until finally in 1992, Joe made a big profit along with the 'Black Wednesday' event spearheaded by George Soros. With a large profit, Joe Lewis then founded his own company called Tavistock Group.
Through his company, he ventured into various business investment sectors and made his name even more famous as an accomplished investor in the United Kingdom. He earned the nickname 'The Boxer' because of his similarity with a heavyweight US boxing legend, Joe Louis. Joe Lewis himself is also known as a 'heavyweight investor' with large capital and is the richest forex trader.
4. Paul Tudor Jones
The next richest forex trader is Paul Tudor Jones. Who is Paul Tudor Jones? Paul Tudor Jones is the founder of Tudor Investment Corporation, which is a private investment management company with the concept of a hedge fund system. The name Paul Tudor Jones began to be known to the world when he could accurately predict the occurrence of a crash in the global stock market on Monday, October 19, 1987, or known as Black Monday.
Unlike Joe Lewis or George Soros who also focus on other non-forex assets. Joe Lewis focuses more on forex trading. In March 2010, Forbes magazine ranked Tudor as the world's 297th richest person with a net worth of USD 3.2 billion. Tudor Investment Corporation managed to provide 4 percent per year of assets under management and 23 percent of profits to investors who entrusted assets to this company.
In fact, on average, other investment companies are only able to provide 2 percent per year of asset management and 20 percent of profits. Another important Jones saying that you can apply in trading is "Don't focus on the profits you will get, but focus on what protection you already have." Paul Tudor Jones is known as one of the traders
Unlike Joe Lewis or George Soros who also focus on other non-forex assets. Joe Lewis focuses more on forex trading. In March 2010, Forbes magazine ranked Tudor as the world's 297th richest person with a net worth of USD 3.2 billion. Tudor Investment Corporation managed to provide 4 percent per year of assets under management and 23 percent of profits to investors who entrusted assets to this company.
In fact, on average, other investment companies are only able to provide 2 percent per year of asset management and 20 percent of profits. Another important Jones saying that you can apply in trading is "Don't focus on the profits you will get, but focus on what protection you already have." Paul Tudor Jones is known as one of the traders
richest forex in the world.
Also read :
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3 Simple Tips to Become a Successful Trader, Guaranteed to Make a Lot of Money |
Want to become a successful trader, but still confused about forex trading techniques?
Don't worry, if you find it difficult to understand the learning material or basic trading techniques, it is not because the forex market cannot be understood. To make it easier for you to become an expert trader, join the trader community on Telegram GIC Forex Academy which will provide information and trading education that is often held by GIC.
You can also join the trader community on GICtrade Telegram to ask fellow traders directly about their trading experience. Also follow GIC Instagram to get webinar information and various attractive prizes.
In addition, on YouTube GIC, traders can also learn to trade for free! What are you waiting for? Get more features that fully support you to start investing and trading forex through GIC. Make transactions simpler, safer, and more profitable.
You can also join the trader community on GICtrade Telegram to ask fellow traders directly about their trading experience. Also follow GIC Instagram to get webinar information and various attractive prizes.
In addition, on YouTube GIC, traders can also learn to trade for free! What are you waiting for? Get more features that fully support you to start investing and trading forex through GIC. Make transactions simpler, safer, and more profitable.
