We all know Warren Buffet, Jarret Davis, and many other popular stock traders. They are the symbol of success in the financial market. Many beginners want to copy them. On the other hand, the most famous Forex traders generally avoid the limelight. At the same time, some of them found it possible to rise to global stardom.
In this article, we have conducted a list of the most well-known Forex traders. Some of these names might seem new, especially for amateurs. However, you really need to remember them, as these players matter for the entire Forex market and the investment industry.
George Soros is one of the most famous currency traders of all time. He was among Forex trading pioneers in Eastern Europe. Hailing from Hungary, he started his career back in 1992. His Forex strategies were mainly focused on GBP short trading.
Eventually, Soros had a huge success, as he netted more than $1 billion. Additionally, he sold short more than $10 billion throughout his career. What’s more, Soros got the name of the man who broke the Bank of England. George’s actions resulted in the so-called Black Wednesday. British financial authorities were forced to withdraw currency from the European Exchange Rate.
Later, Soros became one of the most successful and famous currency traders across the globe worth more than $25 billion. Unfortunately, he lost most of his capital after betting that Brexit would not happen. As we all know, it actually happened.
Despite this failure, Mr. Soros is still active in the financial market at his 91.
Some people call him “the man who solved the market”. James Simmons is associated with the most successful hedge fund manager. Besides, he managed to make an 80% of return during 2008, when 99% of traders had their worst year in the Forex trading industry.
Today, Simmons operates two major funds. The first one is a public fund while the second one – the Magellan - operates as a closed-end fund. The Magellan is known for its complex calculations and mathematical approaches that make it possible for traders to find better trading opportunities. As a result, the fund has been showing a steady 20% growth over the last few years.
Stan Druckenmiller is another famous currency trader who has been gaining success and recognition since 1992 when he used to bet against the pound just like many other Forex trading players of those times. By the way, he used to work for George Soros.
After 20 years of great work, Stanley decided to leave the Quantum Fund and start a fund of his own. Today, he runs the Duquesne Fund which has been steadily showing 20% of the annual return. Druckenmiller was also among traders who not just managed to survive during 2008 but also made some huge gains.
Unfortunately for Stan, he experienced several huge setbacks and failures. It forced him to close his fund. Nevertheless, he is a billionaire worth more than $3.1 billion. Despite his age, Druckenmiller is very active in the financial industry. He regularly visits huge global events like the World Economic Forum, and younger investors enjoy listening to him.
Bill Lipschutz became famous for his true “from-rags-to-riches” story. He was the one to turn $12,000 into $250,000 and then lose it all. The reason for such a huge failure was a single wrong trading decision that eventually led to a disaster.
While most traders in his shoes would give in, Bill learned the importance of risk management. Instead of chasing the loss, he decided to take a pause and continue his study to earn an MBA. After gaining enough knowledge and skills, Lipschutz joined Solomon Brothers where he had great success while being in charge of the company’s forex exchange division.
Later, he founded his own multi-asset management firm that eventually grew into one of the best-performing funds in 2015.
Bruce Kovner started trading, having only a credit card as his main capital. Despite his success, Kovner still keeps a low profile. His first ever trade brought him $20,000 after buying soybean futures. Today, his Caxton Fund has more than $14 billion in assets.
In 2011, Bruce retired and left the fund for his co-founder to manage. Most of his time, Kovner is involved in various charitable events and financial activities.
The list is very subjective. Hundreds of other successful Forex traders have already managed to beat Wall Street. However, they steer clear of the limelight. The main benefit of well-known currency traders is that you can learn from their experience and track their success.
We have examples of trading with a small capital and eventually reaching enormous results. One can spot crucial mistakes to avoid when getting started. These examples show that a perfect investor is hard to find. Everyone can and will experience losses at some point. So, who are we not to lose?
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.