In my previous article, I shared with you the list of the Top 10 Richest Forex Traders In South Africa, and here again, I have come up with the list of the top 10 richest forex traders in Nigeria.
The people are currently notable Nigerians who have become successful through forex trading.
Forex trading is a popular activity in Nigeria, with a growing number of traders trying their luck in the foreign exchange market as it offers a potentially lucrative opportunity to make money by speculating on the value of different currencies.
However, while there are many successful forex traders in Nigeria, there are also some people who have lost in trading but that is not the purpose of being here.
The main purpose of being here right now is to see the list of the top 10 richest forex traders in Nigeria today.
List Of Top 10 Richest Forex Traders In Nigeria 2023
Without much Ado, let’s dive in right now!
1. Uche ParaGon
He is a popular Nigerian forex trader and founder of Forexwithfriends.net, a forex training and education platform.
He has over 10 years of experience in forex trading and is known for his simple and effective trading strategies.
He’s currently the richest forex trader in Nigeria with an estimated net worth of $20 million.
2. Akin Alabi
Akin Alabi is a Nigerian entrepreneur, author, and forex trader. He is the founder of NairaBET, a popular online sports betting platform, and has written several books on entrepreneurship and marketing.
He’s currently second on the list of the top 10 richest forex traders in Nigeria as of the time this article is written.
3. Benjamin Ajimoko
Benjamin Ajimoko whose net worth is $100,000 is one of the top 10 richest forex traders in Nigeria in 2023.
Benjamin Ajimoko isn’t a full-time trader but rather a forex trading instructor and is currently a senior sales executive.
With the passion to aid the teaching of aspiring forex traders, he established the Millionaire Forex Trader Academy where he teaches aspiring traders how to trade successfully.
4. Patrick Ogagbor
Patrick Ogagbor who is $50,000 richer than Benjamin Ajimoko is a Nigerian forex trader who began his trading journey in the year 2003.
Recommended: Top 10 Richest Forex Traders In South Africa
He had previously worked as an employee at Zenith Bank, Nigeria before he quit and dive fully into pursuing his career as a full-time professional forex trader.
Patrick Ogagbor started his forex trading activities with just $200 and turned it into a whopping $5000 while trading part-time.
Today, he has an estimated net worth of $150,000.
5. Chinedu Onuoha
Chinedu Onuoha is a Nigerian and an Igbo man who had become successful with a whopping $180,000, he’s currently on the list of the top 10 richest forex traders in Nigeria today.
Chinedu Onuoha as being consistent in trading for 12 years consecutively before he aimed at providing courses for aspiring traders in Nigeria.
6. Blessing Ezeako
Blessing Ezeako shouldn’t go without mentioning the list of the top 10 richest forex traders in Nigeria.
Blessing Ezeako is an Igbo woman who boldly ventured into trading as a side hustle using HFM as a favorite trading platform at the long run, she was able to venture fully into trading which has definitely made her one of the richest forex traders in Nigeria today.
Her belief is that, education as being able to play a significant role in all aspects of her trading experience.
7. Bade Afioluwa
Bade Afioluwa who had experienced several losses in his trading career is bold enough today to stand amongst the list of the top 10 richest forex traders in Nigeria today.
Despite his several loss, yet, he never give up, he determined to pursue a new potential goldmine and was able to quickly recognize that trading the Forex market may significantly boost his chances of being rich in the shortest time possible and today he cannot be left out amongst the top 10 richest and wealthiest forex traders in Nigeria.
8. Sandile Shezi
Sandile Shezi cannot also be left out of the list of richest forex traders in Nigeria and also amongst the top 50 richest forex traders in Africa with an estimated net worth of $1.3 million naira.
Sandile Shezi arose from grass to grace through his consistent trading on OctaFX.
Sandile Shezi is fortunate enough to have made a whopping $1.3 million despite having no deep knowledge of trading.
9. Jeffrey Benson
Jeffrey Benson had once been a freelancer before he got his way into trading.
However, when it got to 2017 he was able to build his trading account from $25,000 to a whopping $240,000 just within the period of 6 months.
With much effort at his end, he had been able to earn himself a fortune of $1.5 million.
10. Damilare Ogundare
Damilare Ogundare is the CEO of Habby Forex Trading Academy and is widely known as one of the 3 top richest and most recognized forex traders in Nigeria today with a net worth of $5 million.
Damilare Ogundare became a millionaire when he was at the age of 20 years. He started trading forex in 2018. Damilare Ogundare who is in his 20s has helped turn about 300 Nigerian youths into profitable forex traders, and he kickstart his company in 2018 when he earned his first million in trading.
How To Start Trading Forex Like a Pro and Join The List Of Richest Forex Traders In Nigeria In 2023
Becoming one of the richest forex traders in Nigeria, or anywhere else in the world, requires a lot of hard work, dedication, and discipline just like those mentioned in the top 10 richest forex traders in Nigeria mentioned above.
However, here are some general tips on how to improve your chances of success in forex trading:
Learn The Fundamentals
Before you start trading, it’s essential to learn the basics of forex trading, including technical analysis, fundamental analysis, risk management, and trading psychology.
You can take online courses, read books, or watch educational videos to improve your knowledge.
Practice with a demo account
Most forex brokers offer demo accounts that allow you to practice trading with virtual money.
This can help you gain experience and confidence before you start trading with real money.
Develop a trading plan
A trading plan is a set of rules that you follow when making trading decisions. It should include your entry and exit strategies, risk management rules, and trading goals.
A trading plan can help you avoid impulsive and emotional trading decisions.
Manage your risk
Forex trading involves a high level of risk, and you should never risk more than you can afford to lose. Use stop-loss orders to limit your losses and set realistic profit targets.
Don’t forget the story of Bade Afioluwa.
Keep a trading journal
Keeping a trading journal can help you track your performance, identify your strengths and weaknesses, and improve your trading strategy over time.
Stay up-to-date with market news and events
Forex markets are influenced by a wide range of economic, political, and social events. However, you should stay informed about the latest news and events that can affect currency prices.
Join a trading community
Joining a trading community can provide you with support, advice, and feedback from other traders.
You can also learn from their experiences and insights.
Frequently Asked Questions On List Of Top 10 Richest Forex Traders In Nigeria
Below are the frequently asked questions you should know:
How do these traders make their money?
These traders make their money by buying and selling currencies in the foreign exchange market.
They aim to profit from fluctuations in exchange rates between different currencies.
They use various trading strategies and techniques to identify profitable opportunities and manage their risk.
What is the minimum amount required to start trading forex in Nigeria?
The minimum amount required to start trading forex in Nigeria depends on the broker you choose and the trading account type you open.
Some brokers offer micro accounts that allow you to trade with as little as $10, while others require a minimum deposit of $100 or more.
However, it’s important to note that trading with a small account size may limit your trading opportunities and expose you to higher risk.
Do I need to have a background in finance to trade forex?
No, you don’t need to have a background in finance to trade forex.
However, it’s important to have a basic understanding of financial concepts such as currency pairs, exchange rates, and margin trading.
You can learn these concepts through online courses, books, or educational videos.
Is forex trading legal in Nigeria?
Yes, forex trading is legal in Nigeria. The Central Bank of Nigeria regulates forex trading activities in the country and has issued guidelines to ensure that brokers and traders operate within the legal framework.
What are the risks of forex trading?
Forex trading involves a high level of risk, and as a trader, you can lose your entire investment.
The risks of forex trading include market volatility, leverage, counterparty risk, and operational risks.