10 Richest & Most Successful Forex Traders in South Africa
Introduction
South Africa is home to some of the most ambitious and resilient Forex traders in the world. With a fast-growing online trading culture, low barriers to entry, and a growing appetite for financial independence, South Africa has produced a wave of successful traders—some becoming millionaires by their mid-20s.
This article highlights the top 10 richest and most successful Forex traders in South Africa, profiling their journey, achievements, estimated net worth, and how they continue to inspire aspiring traders across the continent.
1. Ref Wayne
Estimated Net Worth: $500 Million+
Widely regarded as the forex king of South Africa, Ref Wayne (born Refiloe Nkele) is a self-made millionaire, philanthropist, and entrepreneur. He began trading in his teenage years and made his first million by age 19.
Achievements:
- Founder of the African Forex Institute (AFI).
- Created Pipcoin, Africa’s first digital currency.
- Developed the Armageddon Trading System.
- Author of “The Art of Trading” and other educational works.
Influence:
Ref Wayne has focused much of his success on empowering African youth through education, mentorship, and financial literacy campaigns. His story of going from township poverty to wealth inspires traders across the continent.
2. Sandile Shezi
Estimated Net Worth: $2.3 Million
Often labeled South Africa’s youngest self-made millionaire, Sandile Shezi began his trading journey by risking his university tuition fees. That gamble turned into one of the country’s most famous Forex success stories.
Achievements:
- Co-founder of the Global Forex Institute (GFI).
- Mentor to thousands of new traders.
- Featured in numerous media outlets and speaking engagements.
Controversy:
Shezi has faced legal issues in recent years related to fraud allegations, reminding the public of the importance of transparency and regulatory compliance in the industry.
3. George van der Riet
Estimated Net Worth: $1 Million+
A seasoned trader with over 15 years of experience, George van der Riet is the co-founder of the Global Forex Institute along with Sandile Shezi.
Achievements:
- Trained over 10,000 students in Forex.
- Runs multiple businesses and investment ventures.
- Has a background in banking and finance from the UK.
Legacy:
George’s role has been more behind-the-scenes, mentoring Shezi and building a foundation for forex education in South Africa.
4. Louis Tshakoane
Estimated Net Worth: $1.5 Million
Louis Tshakoane, a motivational speaker turned trader, is one of the rising stars of South Africa’s Forex scene.
Achievements:
- Founder of Undercover Millionaires.
- Public speaker and author.
- Runs mentorship programs in Forex and business.
Notable Traits:
He is known for his flashy lifestyle, high-end cars, and aspirational messaging—but his actual trading records are less public.
5. Jabulani Ngcobo (Cashflow Ngcobo)
Estimated Net Worth: $2 Million
Jabulani Ngcobo, also known as Cashflow Ngcobo, rose to fame through social media, often flaunting luxury lifestyles and exotic vacations. He’s also an entrepreneur and motivational speaker.
Achievements:
- Author of “Cashflow Naked.”
- Owns Cashflow Pro, a trading and business education platform.
- Frequently appears on South African talk shows and seminars.
Legal Challenges:
He was convicted in 2019 for financial misconduct, but later rebuilt his public image as a businessman and Forex mentor.
6. Shaun Benjamin
Estimated Net Worth: $1 Million+
Shaun Benjamin is a KwaZulu-Natal-based Forex trader who became a millionaire by the age of 21. He is known for his humble beginnings and business acumen.
Achievements:
- Founder of Benjamin Forex Academy.
- Focuses on trading and property investment.
- Runs free financial literacy workshops in rural areas.
Approach:
Shaun advocates for disciplined trading and patience, often emphasizing mindset over quick riches.
7. Simz D’Mandla
Estimated Net Worth: $1.5 Million
Simz D’Mandla is a Forex trader, entrepreneur, and public speaker who started from nothing and built a name for himself through disciplined trading and brand building.
Achievements:
- Founder of Trade4Africa.org.
- Popular for his media appearances and motivational content.
- Focuses on teaching long-term trading strategies and personal development.
Business Expansion:
He also invests in real estate and fintech, diversifying his income beyond trading.
8. Thomas Mthethwa
Estimated Net Worth: $700,000+
Thomas is known for his consistent returns and transparent trading education model.
Achievements:
- Runs his own trading academy.
- Focuses heavily on risk management and trading psychology.
- Offers private mentorships and webinar series.
Community Impact:
He’s respected in trading circles for staying grounded and honest about the challenges in the Forex industry.
9. James Naidoo
Estimated Net Worth: $1 Million+
James Naidoo is a Durban-based trader with a reputation for his technical analysis skills and signal services.
Achievements:
- Creator of multiple signal groups.
- Offers both free and paid educational resources.
- Invests in stocks and cryptocurrencies alongside Forex.
Strengths:
He’s praised for being data-driven and results-oriented. His strategies rely heavily on market structure and multi-timeframe analysis.
10. Kgopotso Mmutlane (DJ Coach Tsekeleke)
Estimated Net Worth: $1.2 Million
Better known by his stage name, DJ Coach Tsekeleke, Kgopotso Mmutlane is a Forex trader and motivational speaker who leveraged his DJ fame into a trading education empire.
Achievements:
- Founder of Forex Broker Killer (FBK).
- Known for an energetic, engaging teaching style.
- Gained fame for turning small accounts into substantial capital live on social media.
Unique Factor:
His blend of music, lifestyle, and trading has made him popular among young South Africans and social media followers.
What Sets These Traders Apart?
1. Mindset and Discipline
Most of these individuals credit their success to:
- Patience
- Consistency
- Risk control
2. Mentorship and Education
Almost all top traders have transitioned into educators and mentors, building brands that help others learn the ropes.
3. Diverse Income Streams
They often earn not just from trading but also from:
- Courses and mentorships
- Affiliate marketing
- Book sales
- Speaking engagements
4. Media Presence
From YouTube to Instagram, these traders have mastered the art of building public influence, which brings sponsorships and business opportunities.
Challenges & Controversies
While these traders are celebrated for their achievements, many have also:
- Faced legal challenges
- Been accused of fraud or misleading marketing
- Had inconsistent trading records
Lesson: Aspiring traders must verify credentials, demand transparency, and avoid “get-rich-quick” traps.
Final Thoughts
South Africa’s Forex industry is dynamic, fast-growing, and filled with opportunities—but it’s also complex. The richest and most successful Forex traders in South Africa prove that with dedication, education, and discipline, it is possible to build a lucrative career from the financial markets.
Whether you admire Ref Wayne’s innovation, Sandile Shezi’s risk-taking, or Shaun Benjamin’s structured approach, each of these traders offers unique lessons for success in the volatile world of Forex trading.