Wondering if anyone can get rich in Nigeria with Forex trading? Many people want real-life proof before engaging in Forex trading; this may be due to the difficulty of starting a forex trading career.

Yes, it’s totally possible. Lots of Nigerians have made millions of Dollars through Foreign Exchange (FOREX or FX) trading. In its simplest form, this trading involves currency. This means trading one currency for the other. It is a wealth-building yet risk-filled business. 

There are lots of benefits attached to Forex trading, which includes an experience in trading the markets, ability to calculate and absorb shock. Some might wonder how that is related? Forex trading comes with numerous risks, you can lose as much as you earn.

That is where the shock absorber comes in because you need to have a good experience in shock absorption to be able to withstand such loss. Being calculative is required when trading Forex as you need to purchase currency at low value and sell when the value is at its peak. This requires lots of calculations and carefulness.

In this article, you’ll learn about the top 8 richest Forex traders in Nigeria and their individual strategies for being successful in Forex trading. Although most successful people in the business of trading forex have decided to keep their successes private, the list has been compiled after lots of research. 

I can feel the excitement resonate in you already as you are ready to learn. Let’s delve in.

Top Richest FOREX Traders in Nigeria 

Here are the top 10 personalities making it big with Forex trading 

1 Uche Paragon

Net Worth: $16 million

Uche Paragon is currently the richest Forex trader in Nigeria who started out in 2007. He got his opportunity to join Forex from an advert by XM Forex Brokers which offered a $30 zero deposit bonus for newbies in Nigeria. He grabbed this opportunity and started from there.

As a novice in the trade, he had a few mentors and he lost a lot of money while starting. He decided to improve on his skills on Forex trading, he went on to study and dedicate his time to Forex and the result paid off greatly.

His preferred trading is crude oil market, as it appears to be one of the most volatile commodities. The crude oil prices also changes every day which might mostly be in his favor. With great experience in Forex, Uche has become very successful. Currently, he owns two (2) Forex academies where lots of people are trained on how to trade forex successfully. These academies are located at Lagos and Port Harcourt respectively.

2 Dapo Willis

Net Worth: $10 million

Dapo Willis being 2nd in our list has incurred over 11 years experience in Forex trading and as such he has gained lots of knowledge concerning Forex. He currently resides in Dubai. Although he started his Forex trading in Nigeria, he later moved to the UK in order to further his studies.

Even when he relocated, he was still studying Forex relentlessly and that got him to where he is currently. Along the way, he has become a serial investor and speaker in many trading forums. He also manages funds for his clients and investors. Dapo has signed endorsement deals with numerous firms in Nigeria.

After many years of mistakes and experiences, Dapo claims to know the very knowledge that can make a determined person successful in Forex and this has turned out to be true due to his success in the trade.

3 Damilare Ogundare

Net Worth: $5 million

Damilare Ogundare also known as Habby Forex is one of the richest and youngest Forex traders in Nigeria. Although starting out as a small trader with only a laptop, he has learned and gained experiences in Forex which has made him successful today.

He has been consistent and focused on harnessing his skills in Forex and his consistency paid off as years passed by. He is also the CEO of Habby Forex Academy. This is one of the most popular and successful learning institutes for forex traders and has produced thousands of successful forex traders in Nigeria and beyond.

Due to his love for the growth of others, Damilare has authored a book titled; Breaking the Economic Mist. This book helps youths on how to become successful despite the economic fluctuation in the country. Habby Forex is an inspiration to youths struggling with growth in Forex.

4 Ejimi Adegbeye 

Net Worth: $5 million 

Ejimi Adegbeye started out with Forex trading at a young age and has won lots of prizes alongside the wealth he has acquired. He emerged the Award winner of “The Prestigious African Trader of the Year” in 2012 and was also named one of the 50 Most Influential People in Africa in 2016.

Although he has traded numerous times, it’s shocking that he has never lost money due to his high risk management technique. Furthermore, his investment in any trade is always a small percentage of his capital. He has strict discipline and that has helped him thrive without losing.

In trading, he uses price action and is not dependent on technical indicators for his decision making. This is what sets him apart from other traders. Ejimi has also published a book titled; “The millionaire Forex Trader’s Handbook” among many others. 

5 Jeffrey Benson

Net Worth: $1.5 million

Jeffrey Benson has been into Forex trading since 2017 and within a year and a half, his consistency was already paying off. Before then he was a freelancer who worked on different freelancing sites for payment. He is not just a trader but also a YouTuber who guides newbies on Forex trading.

Jeffrey is one of the few people that made it big on Forex within a short period of six months. This was possible due to consistency and determination. He was already established on the online space; therefore he didn’t find much difficulty in being committed to Forex. This earned him over $200,000 within a period of six months.

He was also able to flip multiple small accounts within a few days and he has revealed this technique on his YouTube channel. He is a trader who is interested in carrying youths along with the birth of his YouTube channel which serves as a guide in Forex.

6 Sandile Shezi

Net Worth: $1.3 million

Sandile Shezi is not your regular kind of trader, he is one from a humble beginning. He didn’t start up with a laptop because he couldn’t afford one, I can say that only his passion kept him going. He joined Forex trading while in the higher institution and most times he used borrowed tuition fees for Forex trading. Due to his undying passion, he risked his fees for it.

Although he had no previous experience or knowledge about Forex, he earned a lot of money in OctaFX by trading stocks and currencies. He spent lots of time studying Forex, learning the do’s and don’ts, Forex terminologies, different trading strategies and risk management techniques. He became successful in Forex due to years of study, experience and dedication.

Sandile now focuses on how to grow others. He cares more about the growth of others as he believes in general growth. He has dedicated his time to teach numerous people on Forex trading and the results have paid off well so far.

7 Bade Afioluwa

Net Worth: $220,000

Bade Afioluwa is a business-oriented person who has earned lots of money from Forex although he started with a great loss. Like numerous Forex traders, Bade had his own share of experience with losses on Forex as he lacked experience and mentorship. He however used that opportunity to learn from his numerous mistakes and build himself.

After much trial and error, he has found the lucrative side of Forex and is doing well building himself. He learnt from numerous people as he grew but he learnt the hard way as he lost huge amounts of money to Forex. His unwavering passion for Forex and consistent nature saw him through.

1. Blessing Ezeako

Net Worth: $200,000

Blessing Ezeako is one of the few Nigerian females who has made it in Forex. Initially, she started out Forex as a side hustle in order to earn a little cash but when she saw what she was really up for, she made a full time job where she dedicated her time into. She started small and has gone far in the world of Forex trading.

She trades with HotForex Broker which is one of the few Brokers which offers Nigerian traders an ECN account. According to her, being able to manage risk and setting goals is one of the traits that has helped her succeed in Forex trading.

Blessing is a lady who loves to share her ideas and as such she has organized numerous webinars and free sessions which give insight of Forex to the newbies and how they can succeed. She also shares her knowledge as related to Forex on her blog.

Conclusion 

Forex is not a get rich quick scheme; hence you need to put in the work to succeed. From the list of top Forex traders in Nigeria, no one ever made it big on the first day, no matter the type of mentorship you get. You’ll make mistakes, lose money but with consistency, you’ll scale through.

As someone who has passion for forex, get close to those who made it big, overcome fear, think big, and anticipate losing money. These traits will enable you to grow successfully in forex trading.