Auchijeffblog is known by majority to be a content writing site that ensure to give you up to date biography and other news update. In this article, just as it is stated below Auchijeffblog will be taking you on a full tour on the richest forex trader in Nigeria.
All you have to do is to keep reading so as to be enlightened because Auchijeffblog will be bringing to light more details forex trading. Don’t forget to share this article to your friends so as to keep them updated about recent happenings.
Forex (FX) is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another for a variety of reasons, usually for commerce, trading, or tourism.
According to a 2019 triennial report from the Bank for International Settlements (a global bank for national central banks), the daily trading volume for forex reached $6.6 trillion in 2019.1Trading currencies can be risky and complex.
Because there are such large trade flows within the system, it is difficult for rogue traders to influence the price of a currency. This system helps create transparency in the market for investors with access to interbank dealing
The foreign exchange market as stated earlier is where currencies are traded. Currencies are important because they allow us to purchase goods and services locally and across borders. International currencies need to be exchanged to conduct foreign trade and business.
Major things one should understand before venturing into forex trading and that is Forex trading is still unregulated in Nigeria but it is not illegal. It means until these regulations come, if your broker goes bankrupt or refuse to pay you, nobody can help you.
If you still decide to trade, choose a reputed broker which has a global presence and are regulated by prestigious foreign financial institutions. Be cautious of brokers that promise to bring massive profits. Always check the reputation of the broker before putting your money.
One frequently asked questions in Africa m, nigeria precisely is that do people actually get Rich while trading because many people venture into trading and few make money out of it. But little do that know that there are many successful Forex traders in Nigeria.
But for one to denote the richest of them all is very rare because of if that nature of their business, Many of them keep their business activities secret and do not reveal their earnings or profits, only few of them do that. Without much furtherado let proceed.
Top 10 Wealthiest Forex Traders in Nigeria and their Net Worth
In this article I will be sharing with you the top 10 richest forex traders in Nigeria in 2022 and their net worth. Hopefully, the following accounts of forex traders in Nigeria will motivate you to take action immediately.
10. Benjamin Ajimoko – $150,000
Benjamin Ajimoko is a successful Forex trader who achieved success via the use of the proper attitude and trading psychology. Instead of trading the markets full-time, he decided to become a forex trading instructor and he is currently a Senior Sales Executive. Benjamin Ajimoko’s success was undoubtedly aided by his sales experience.
He now teaches novice traders and shares critical insights with his colleagues. According to Benjamin, the most important key to being a good forex trader is triumphing over emotions.
His formula for success is to immerse himself in the enormous realm of trading information that exists alongside developing expertise in FX trading. He has an estimated net worth of $100,000.
9. Patrick Ogagbor – $350,000
Patrick Ogagbor started his forex trading journey in 2003. Patrick Ogagbor was a previous employee of Zenith Bank before quitting to pursue a career as a full-time professional FX trader. He started trading the forex market in 2003 and has since amassed a fortune for himself.
He started with a capital of $200 and by 2007 he managed to turn it into $5,000 while trading part-time. In 2016, he decided to quit his employment to focus on full-time forex trading. Patrick is proof that successful traders can be born from small beginnings.
He is without a doubt one of the greatest forex traders in Nigeria due to his customized risk management and constant execution of his plan. He believes that to optimize earnings, the market environment must be understood. He has an estimated net worth of $150,000.
8. Chinedu Onuoha – $500,000
Chinedu Onuoha is perhaps best known for tutorials and strategies he offers to beginner traders. He is a very experienced trader, being in the arena of Forex for almost 12 years. Onuoha emphasizes that a sustainable strategy is key to success. When a person chooses a particular direction, it should not be winning at one week and losing the second week.
After some time, he expanded the latitude of trading and became involved in commodities, futures, and equities. When asked what it is the most important thing for a trader, the answer was the reduction of losses. Of course, it is difficult to avoid them, but with the correct strategy, you can minimize it and embark on the way to become the richest Forex trader in Nigeria.
Chinedu Onuoha currently undertakes a job of teaching others to become successful Forex traders. He is a unique personality in Nigeria for his methods of teaching and the experience he has under his belt should envy even the most experienced traders.
7. Blessing Ezeako – $750,000
Many Nigerian think investment or trading are meant for females only nut just so you know not only men but also women are involved in Forex trading, and one representative that we have here is Blessing Ezeako. She is a clear example of an individual, ignoring all the stereotypes.Initially, she started Forex trading as a business opportunity, and soon after that, it became a full-time job. Ezeako says that the main thing for her in Forex is not about getting rich but about knowledge.
When she was still a beginner and slowly learning the basics of Forex, she suffered losses. She was very unlucky, but changing the direction when you have a hard time to reach goals is another key trait of a successful Forex trader. The stubbornness to be successful in Forex trading eventually prevailed and Ezeako became a prominent trader in Nigeria. She attended classes, learning trading psychology, trend trading and money management.
Ultimately she has become one of the richest Forex traders in Nigeria a dream for every Nigerian citizen. Blessing Ezeako could be considered a role model for everyone. If we take into account the situation in Nigeria, it is a daring move for a woman to undertake a career in Forex. Still, she neglected all barriers on her way and proved everyone wrong
6. Bade Afioluwa – $900,000
Bade Afioluwa is also an example of a person who started Forex trading with losses. While being an entrepreneur himself, he decided to take on a new business opportunity and found out that Forex trading was a chance of getting rich quickly.Investing a huge amount of money had its drawback, and initially, Afioluwa lost a lot of money.
It was a huge disappointment for a person whose friends made a fortune from Forex trading. He understood his errors, where he made mistakes and started learning to master trading strategy. Eventually, everything worked out, and he established himself among top Nigerian Forex traders.
Afioluwa became such a successful trader that even his associates and close friends entrusted him with their money at some point. He had a strategy that was profitable all the time. He did not stop – a mistake which Forex traders make frequently, but he continued improvement and earned himself a place among the top 10 richest forex traders in Nigeria.
5. Sandile Shezi – $2 Million
Sandile Shezi is one of the prominent young millionaires in Mzansi. He came from humble beginnings, but he mastered the concept of turning lemons into lemonades by venturing into forex trading and Bitcoin. Since hitting his jackpot in the trading businesses, Sandile Shezi has built a thriving business empire, becoming one of South Africa’s forex Guru.
He became a self-made millionaire at 23, and his story is one of a kind; it depicts his risk-taking nature. Here is a look at Sandile Shezi’s 2022 net worth, sources of income, cars, wife and age. The celebrated entrepreneur and founder of Global Forex Institute, as well as the Founder of Rivoltare Pty Ltd, was born to less privileged parents in Durban. Growing up, the notion of being rich and famous was far-fetched for him as his parents were poverty-stricken. At a young age, Sandile moved to cohabit with her grandmother, who ran a tuckshop in her neighbourhood, and it was where he developed his interest in buying and selling.
Sandile discovered his craze for being an entrepreneur as he learned the skills from her grandmother and started selling muffins at his school. As his muffin business grew, Sandile used the money to trade forex while attending school. Making risky decisions along the way, he took tuition fees given to him by his friends and began trading with it online, beginning his forex trading career. Sandile Shezi has a thing for first-class cars, and his car collection is a testament to that. In his garage is a limited edition of Ferrari California T. Special, Maserati , BMW i8 and other fleet of cars which is worth millions of naira.
4. Jeffrey Benson – $4.5 Million
Jeffrey Asabi Benson , known professionally as Jeffrey Benson, is a Nigerian Forex Trader and Youtuber.He was born in Edo state where he spent his early life with his parents and then relocated to Lagos at a very early age of nine (when he lost his mom). And he spent most of his early age with his older siblings who took care of him. He completed his basic and high school education in Lagos.
Jeffrey had been a Freelancer right from day one. He never knew how paycheck looks like. He worked then on Fiverr, upwork and several freelancing websites.Jeffrey Benson started his journey in forex trading 2017. And gained consistency in a year and half.
He built an account from $25,000 to $240,000 in six months. And that was a breakthrough in his career. Jeffrey Benson also flipped multiple small accounts in matter of days. Which is featured in his YouTube channel. He has featured several top PROP FIRMS founders and Pro traders. And also has been featured by top financial analyst on their show.
3. Damilare Ogundare – $9 Million
Damilare Ogundare is one of the top names in Forex trading in Nigeria. Like every other person who is into Forex trading, the main reason Ogundare entered into the field was that it was rewarding, And, at age 18, he made his first ₦1 million. He is a Forex trader, author, and YouTuber; through all these means, he teaches Nigerians how to trade and earn money.
With over 4 years of experience in the business, he is the owner of HabbyFX, the popular Forex Trading platform. The platform offers online Forex trading education and has 3 physical locations across Lagos State.
Habbyfx is one of the richest forex trader on the trading platform and with this he owns a fleet of cars like Mercedes, Lexus is 350 and many more worth millions of naira.
2. Dapo Willis – $16 Million
Dapo Willis is another forex trader who once had a humble beginning and now he is ranked the second Richest Forex traders in Nigeria all thanks his determination and he stated in and interview that At the age of 17, he started his Forex trading journey. When he stared his Forex trading journey he was in Nigeria, then he moved to the UK to further my education.
While he was trading in Nigeria, he bought so many paid courses from one course to the other and to the other and so on, but all to no positive result. And this took a lot of his money. All this happened in a determined by noquest to get a hold of how the market moved, how to trade it and how to become a successful trader like you also want to be.
He used indicators after indicators, from one paid forex signal group to another and all those struggle didn’t make me any better. It got to an extent, where I almost gave up.After successfully passing through the struggling stage, I finally began to find consistency and profit in my trading career and right now he is a trader, with over 11 years of trading experience, a serial investor and a keynote speaker He also owns several fleets of cars and houses. He has a G-Wagon, a Mercedes Benz and a Range Rover Sports.
1. Uche Paragon – $20 Million
The famous uche Paragon started trading Forex in 2007, later extended his trading skill to other online stocks, but currently specializes on trading crude oil and currencies (Forex). He chose to trade crude oil because it was the most active market with many investors all over the world, There is usually no shortage of news to cause the price of oil to move from day to day.
This presents many good trading opportunities, whether you focus on day trading futures or you are a longer-term trader or investor. In addition to this, He own a Forex trading school in Lagos and Port Harcourt and a trading firm called CCI traders, also director of InstaforexNaira.
In our trading school, we teach people all they need to know about trading online and how to manage their risk in trading in order to maximize profit. Apart from trading uche Paragon is a singer and a song writer, he also owns a record label (Sky beat) to show how far he has gone trying to actually his goal.
Due to all this fact Uche Paragon is ranked the number 1 on our list of the top 10 richest forex traders in Nigeria in 2023. He is Nigeria’s wealthiest forex trader, with an estimated net worth of over $20 Million and apart from this he is well known to own automobiles worth Millions of Naira.
Conclusion
In conclusion, Auchijeffblog have been able to put above the richest forex trader in Nigeria.
If you think we didn’t add any to the list feel free to drop comments below.
In addition, Consider opening demo or real trading accounts with the recommended forex brokers as you read them.
Frequently Asked questions about Forex Trading
Question: What Is the Forex Market?
Answer: The foreign exchange market is where currencies are traded. Currencies are important because they allow us to purchase goods and services locally and across borders.
Question: How to Start Trading Forex?
Answer: Trading forex is similar to equity trading. Firstly, Learn about forex, then Set up a brokerage account, then Develop a trading strategy, then Always be on top of your numbers, then Cultivate emotional equilibrium.
Question: How many type of Charts are Used in Forex Trading?
Answer: They are majorly three (3) type of Charts which are; Line Charts, Bar Charts, Candlestick Charts.
Question: Why Do People Trade Currencies?
Answer: The method is used by traders to make money off the rise and fall of currency prices.
Question: Is Forex Trading legal in Nigeria?
Answer: Yes it is
Question: Are Forex Markets Volatile?
Answer: Forex markets are among the most liquid markets in the world. Hence, they tend to be less volatile than other markets, such as real estate.
Question: Are Forex Markets Regulated?
Answer: Forex trade regulation depends on the jurisdiction. Countries like the United States have sophisticated infrastructure and markets to conduct forex trades.
Question: What are the risks involved in forex trading?
Answer: It is necessary to fully understand the risks involved here. Forex trading is highly volatile in nature.
Question: Which Currencies Can I Trade in?
Answer: Currencies with high liquidity have a ready market and therefore exhibit smooth and predictable price action in response to external events.
Question: How Do I Get Started With Forex Trading?
Answer: The first step to forex trading is to educate yourself about the market’s operations and terminology. Next, you need to develop a trading strategy based on your finances and risk tolerance. Finally, you should open a brokerage account.
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