The world’s best Forex Traders

Today, we are going to look at forex traders that are recognized as some of the best in the industry based on their tremendous success.

Let’s jump right in and start off the rankings:

1. George Soros

George Soros is the co-founder of the Quantum Fund and is also known as the man who broke the Bank of England. He is mostly remembered for his short position against the British Pound in 1992 on September 16th which resulted in an estimated profit of over £1 billion. He went against the crowd and made this huge profit from one trade. His action proved to millions of traders that the saying ”quality is more significant than quantity” is true.

There is also a quote from George Soros that displays his discipline and willingness to realize errors while adjusting to changing market conditions. It goes like this ”I am only rich because I know when I am wrong”. The quote sends a very powerful message since trading has many important factors, one of them being that an individual can recognize and accept his mistakes while also learning from them.

2. Stanley Druckenmiller

Stanley Druckenmiller worked with Soros at the Quantum Fund, joining the massive short position against the British Pound in 1992. After that, he ventured out with the foundation of Duquesne Capital. His patience and risk management contributed to his success in becoming one of the best forex traders with consistent double-digit annual returns.

We would advise you to keep in mind that one of the greatest traders in the world was achieving double-digit profits annually. So next time you see any marketing campaign claiming unrealistic results, be aware.

3. Bill Lipschutz

Bill Lipschutz, also known as the Sultan of Currencies earned hundreds of millions of dollars in profit at Salomon Brothers in the 1980s without previously having experience with the forex market. This example shows us that knowledge is essential to succeed and that nothing can replace it.

His recognition of the fact that only between 20% to 30% of traders are profitable and the stressed importance of managing a successful portfolio despite facing more losses than profits was another confirmation that quality beats quantity in financial markets.

4. Andrew Krieger

Andrew Krieger worked briefly at Salomon Brothers, like Bill Lipschutz, before continuing his career at Bankers Trust in 1986. He is known for his famous $200 million profit in a matter of hours on a short position in the New Zealand Dollar with maximum leverage of 1:400 in the aftermath of Black Monday, the market crash of October the 19th, 1987. He is another individual that joined George Soros at his Quantum Fund soon after leaving Salomon Brothers.

5. Paul Tudor Jones

Paul Tudor Jones is a former chairman of the New York Stock Exchange. He founded Tudor Investment Corporation between 1992 and 1995 after gaining experience as a commodities trader. He managed to realize a profit of 62% in short positions and earned over $100 million while doing so during the previously mentioned Black Monday. To this day, he remains one of the best-known traders today and an extraordinary example of what courage looks like in the financial markets.

6. Michael Marcus

Michael Marcus is a founding member of the Commodities Corporation while also being known as one of the biggest traders in German Marks in the mid-1980s. He turned his initial $30,000 into over $80 million in two decades and later rivaled global banks with his almost $300 million in holding. He is another individual that shows us the importance of discipline and patience.

7. Bruce Kovner

Bruce Kovner has turned his $3,000 from his credit card into $23,000 and went on to work at the Commodities Corporation, where he had been mentored by Michael Marcus. Later on, he founded Caxton Corporation, where he earned over $14 billion at its peak.

8. Urs Schwarzenbach

Urs Schwarzenbach is a former employee of the Swiss Bank Corporation who was sent to London where he turned CHF 100,000 into CHF 1,000,000 while trading the forex market on the side. After earning a couple million more, he founded Interexchange and now owns properties and assets across the world.

9. Joe Lewis

Joe Lewis quit school when he was only 15 to help in the family business. He then used the money and moved to the Bahamas where he traded in a tax-friendly jurisdiction. He is known for his massive short position in the Mexican Peso in the 1990s, but it is unknown how much the made from the trade. However, it is well known that his forex career expanded from the trade onward.

10. Michael Steinhardt

Michael Steinhardt had an average annual return in excess of 24% over 28 years. This provides us with evidence that consistency is essential to the success of any individual in the forex industry. During the 1994 bond market crisis he lost over 33% of his portfolio and closed his fund in 1995. Later on, he returned to the financial markets in 2004 as the head of WisdomTree Investments with nearly $43 billion in assets under management.

Have you heard about any of the above-mentioned forex traders and their forex trading journeys before? And do you agree with them that discipline, risk management, and patience are key components to being successful in the forex industry? Comment below!