The past few decades have been absolutely game-changing for the global economy. The vast technological developments that have occurred throughout this period are transforming industries at a rapid pace. The financial industry is a leading sector in terms of digital adoption and Forex trading is at its very core. The trading sector has always been a crucial one within the financial industry but with the growing access to the internet and global communications among citizens of various nations, it has become even more integral.
Many might tell you that Forex trading is just like gambling or even worse with the odds being against you. However, the truth is the complete opposite and such remarks are usually based on the stereotypical perception of Forex trading, which is largely misleading. Gambling will not help you end up on the list of the Richest Forex traders from Ghana. Gambling is almost purely if not entirely dependent on one’s luck. Except for card games, there is not much one can do to persuade a slot machine into granting the jackpot. With Forex trading, there is much more room for intellectual speculation and a range of methods that can be used for achieving the best results.
Forex trading is highly reliant on experience and knowledge about various methodologies, formulas, tricks, and trends within the field. Yes, sometimes good luck truly helps, but it will not do well on its own. With smart calculations and planning based on adequate knowledge, Forex traders can make a profit within a short period of time. Now, many people will say that Forex trading can only profit you with small amounts, barely covering the investment. To that, simply ask those to research Forex traders in Ghana who have managed to completely transform their lives. Otherwise, everyone has heard of George Soros or Joe Lewis, Forex traders who made billions of dollars through this industry. Today, they are some of the most prominent businessmen and philanthropists across the globe.
This obviously does not mean that Forex trading will make you rich overnight. Some people truly lose money and make bad investments. For others, making significant profits might take years. All in all, this is not an easy, simple shortcut to becoming a self-made millionaire. Rather, this is the path of hard work and many sleepless nights that can ideally lead you to great success.
Forex trading in Ghana
There is a stereotype that Forex trading is widespread and possible only in so-called ‘western’ countries or ultra-rich Asian ones. However, the truth is that the sector flourishes across Africa amid the soaring economic development and the resource of young talents. Ghana Forex Traders are a perfect example of how dreams can come true pretty much anywhere.
The country located in the western part of the continent is surrounded by some rather powerful neighbors such as Nigeria and Mali. These nations are driving the regional economy, promising a better future for Africa. Ghana’s main advantage is its location. Businesses in practically all sectors based in the country manage to serve surrounding areas efficiently through a well-developed virtual network and some physical infrastructure while having access to the ocean. Some of the most successful Forex traders from Ghana have contacts in neighboring countries and even in nations located on other parts of the continent.
Despite the industry being quite new to the nation, its development speed remains absolutely rapid, causing lots of interest from investors both locally and globally. New brokerage entities are being set up across Ghana almost every day, opening up new horizons to those working within this booming industry. Each and every new company comes with novelties, innovative ideas, knowledge, and overseas experiences. Many people bring the knowledge they have acquired in well-developed markets in Europe and the Americas to their home country, establishing Forex brokerages. Quite a few of such individuals and entities have become rather successful lately. Therefore, in this article, we will present Top FX traders in Ghana.
Ghana is still an emerging market, developing at a rapid speed but still behind the developed world in terms of economic independence and social equality. Under some rather difficult environment to live in, many young people face the reality of working from a very early age. However, not many earn hundreds of thousands out of their work. The person we will be talking about managed to overcome all obstacles ahead of him, fixing his place among the Top 5 Forex traders in Ghana.
Louis Boah was born in peripheral Ghana, growing up in a large, traditional family. He has 4 siblings and is the eldest among them. As the first child, he had to grow up faster than other kids are required to mature. The family was simply unable to afford so much on their own without some extra cash. Therefore, Mr. Boah had decided from early childhood to help his family and earn enough to support those around him.
At first, Mr. Boah decided to pursue a career in commercial banking. This truly is a thriving industry in modern Ghana with a growing number of such financial institutions popping up across the nation. However, starting off in this profitable field is not as easy. It takes years for hard-working individuals to achieve significant growth. Climbing the career ladder towards high positions is even harder. The top of the industry remains highly exclusive with enormous entry requirements. Therefore, looking for quick money, Mr. Boah soon realized that commercial banking was not exactly for him.
In an attempt to see a fast return, Mr. Boah headed towards some of the financial schemes that were quite popular in Ghana at a time. At first, through the initial investment of roughly $2000, he witnessed the first positive signs of the investment turnaround. All seemed extremely tangible and real, particularly due to the way Mr. Boah got into the sector. He was advised by his close friend to join the scheme and trusting the recommendation, Mr. Boah soon did so. However, everything changed when the leader of the financial entity under which the scheme was operating got arrested with criminal charges of money laundering and corruption. Mr. Boah soon realized how flawed the system was and decided to look elsewhere.
This is when Forex first caught the eyesight of Mr. Boah. He started learning about the Forex market and its opportunities through the web. Yet, he was still quite far away from becoming the Most successful Forex trader Ghana had ever witnessed. After acquiring further knowledge, he started trading independently to gradually begin seeing growing incomes. His first big win was making over $136 thousand through merely an $8000 investment. After this big win, Mr. Boah kept growing his personal assets while starting businesses.
He now owns a brokerage firm, FXGold Trading Limited, incorporated in St Vincent and the Grenadines. This company undoubtedly is a true leader in the local market while being truly significant across Africa. This brokerage firm now employs new talent from all around Ghana while putting the country on the global financial map.
Besides being one of the Richest Forex traders from Ghana, Mr. Boah also is a big philanthropist. His projects and initiatives are helping local communities and particularly the youth with talent. He has founded a university that aims to spread the knowledge about finance and particularly Forex trading among youngsters in Ghana, hoping to raise a promising future generating of the country’s traders.
Today, Mr. Boah owns hundreds of thousands of dollars in personal assets and millions in business. His companies are some of the most significant on the continent, bringing particular emphasis onto Ghana. The prominent businessman is also a big philanthropist as he strives to help thousands of people in need across Ghana and neighboring countries. His contributions are well-acknowledged and valued by the locals. These achievements make Mr. Boah truly the Best Forex trader in Ghana.
As mentioned earlier in the article, Ghana has a rather strategic location. It is placed in between great economic powers of the African continent, hence giving the country an unprecedented opportunity to pose itself as a regional hub. The movement and business ties between countries cause extreme affiliation with one another. This particularly is true in regard to the Forex trading sector as traders from more saturated markets like Nigeria often expand their business into neighboring countries.
The Forex market is just starting to evolve in Ghana. There are many new young talents across the country but a significant number of foreign businessmen still hold certain influence over the market. This was the case with Uche Paragon, which now has one of the brightest and most outstanding Nigerian Forex trader stories. Growing up in Nigeria, he always knew that finance would be his future. However, he primarily thought of traditional banking or stock trading in any of the global financial hubs. Lacking proper educational opportunities, Mr. Paragon decided to help himself by simply going online.
While the vast majority of people surf through the web for entertainment purposes, Mr. Paragon decided to do research about high leverage and fast return sectors. Forex was not at the top of the list but he turned out to be most interested in it. Soon he found himself reading hundreds of pages about the history of Forex, innovations within the sector, and different methodologies that can be used to boost the business. After acquiring the knowledge needed to start off in this field, he began trading and quickly became one of the leading Forex traders Ghana has to offer. How did he reach Ghana? It most certainly is the story of good planning and rapid growth.
Individual assets are never enough and one should always think of investing in a business. Expanding operations is the only way of guaranteeing constant and sustainable growth. This is exactly what Mr. Paragon did as he established his very own brokerage firm, taking Nigeria by the storm.
So what does he have to do with Ghana? Amid the geographic proximity, Mr. Paragon expanded his business into Ghana. The brokerage firm that used to operate solely in Nigeria is now present on the Ghanian market with the growing number of employees. Mr. Paragon has also expanded his educational and youth initiatives into Ghana, treating the country as his second homeland.
Examples like Mr. Paragon proves how the global world and well-connected regions can change the lives of countless people. By expanding his business into Ghana and through other business arrangements, Mr. Paragon has created numerous opportunities for people from all across the nation. Being among the Top 10 richest traders in Ghana, considering his contribution to the country, he truly deserves a spot on this list.
How to start off with Forex?
There is no single answer to this question. Every person comes with a different path and the way of discovering this industry and its true potential. For many people, it started with a quick internet search while others swiftly transferred from related industries, such as banking, to Forex trading in efforts to increase their income.
Now, how you start off is completely individual. However, here I must recall the point made at the very beginning of the article. Unlike gambling, Forex trading is an industry that requires lots of knowledge and experience while luck plays a secondary role. None of the Top FX traders in Ghana would be on that list without enormous work and efforts over the extensive length of time. Therefore, be aware of the need for proper research, knowledge, and experience prior to starting.
Moreover, when it comes to investing, make sure that the sum of money allocated to this purpose is spare. You should be more or less okay with losing the money at first. Forex is not a place for guaranteed overnight success stories. Rather, it is the industry that requires investing, experimenting, and developing. There are many stories of people investing their tuition fees and mortgage payments into Forex and making it big. However, such stories do not mean that the others will certainly share the same fate.
Lastly, make sure that you lookup for your local brokers and read their reviews. Researching them well and acknowledging the pros and cons of every one of them is crucial. If you are blessed with some proper connections, ask for constructive feedback, insights, and acquire as much information as possible. In forex, knowledge, and information are what really have the extreme value and that is exactly the place to start if you want to become the next Best Ghanaian Forex trader. This industry is growing fast and its potential is there to be utilized by the young talent.