Australia is one of the four core global Forex markets, in a time zone that unofficially starts each trading week. It has a high-quality trading infrastructure, is a financial hub for the Pacific region, and provides competitive conditions for local Forex traders to thrive. Some of the best Forex brokers in Australia have global reach due to their trading presence as offshore entities. Beginners can learn from the wins and losses of the most successful Forex traders in Australia and use it as an inspiration to chart their path.
Top Forex Brokers
Lindsay Fox
Lindsay Fox founded Linfox, the largest privately held logistics company in Australia. He was kicked out of school at 16 and became a truck driver. He also owns Armaguard.
The Positive Lessons in Lindsay Fox’s Success Story
- Lindsay Fox never finished a formal education but used his drive and passion to succeed
- He successfully crossed over from logistics to add Forex trading to his income sources, which correlates to his primary businesses
The Cautionary Lessons in Lindsay Fox’s Success Story
- Trading success is not a linear path higher, and even the most successful traders have down years, like the drop in wealth Lindsay Fox experienced between 2011 and 2013
Chris Mackay
Chris Mackay co-founded the Magellan Financial Group, a financial management firm in Australia. He is also the managing director and portfolio manager at MFF Capital Investments.
The Positive Lessons in Chris Mackay’s Success Story
- Chris Mackay trades equities for his firm but uses his capital to venture into Forex, offering a blueprint on how to use Forex trading as an independent side business
- He used his experience in stocks trading and applied it to Forex
The Cautionary Lessons in Chris Mackay’s Success Story
- Even traders with established track records are not immune to client redemptions, as evident by the A$800 million in capital that exited the Magellan Financial Group in July 2024
Ivan Glasenberg
Ivan Glasenberg is the CEO of Glencore, one of the world’s largest commodity and mining trading companies. He has a Bachelor of Commerce and a Bachelor of Accountancy.
The Positive Lessons in Ivan Glasenberg’s Success Story
- Ivan Glasenberg is a life-long commodity trader and has recovered from massive trading losses, serving as an example of how to trade through volatility
- His background in commodities trading served as a natural crossover to Forex, which he pursues privately
The Cautionary Lessons in Ivan Glasenberg’s Success Story
- Ivan Glasenberg faced massive trading losses at the helm of Glencore, reminding traders that losses are part of trading
Walter Peters
Walter Peters is a professional Forex trader who offers education via FXJake and works at NakedForexNow.com, a small community of traders.
The Positive Lessons in Walter Peters’ Success Story
- Walter Peters values education and has a Ph.D. in Experimental Psychology and a graduate minor in Statistics
- He made the successful crossover from equity trading to Forex trading
The Cautionary Lessons in Walter Peters’ Success Story
- His trading approach does not suit every trader, as shown by the small community with which he works.
Kim Krompass
Kim Krompass founded the Price Action Traders Institute (PATI) to teach beginners how to trade and has 16+ years of experience.
The Positive Lessons in Kim Kropass’ Success Story
- Kim Krompass started with education and has a BA in Economics and an MA in Business Taxation
- She was relentless in learning from her trading mistakes until she mastered Forex trading
The Cautionary Lessons in Kim Kropass’ Success Story
- Trading with the principles of Kim Krompass only appeals to traders who share her trading ideology
Chris Lori
Chris Lori manages portfolios for private and institutional clients at a private investment firm. He is also a registered CTA.
The Positive Lessons in Chris Lori’s Success Story
- Chris Lori used his competitive spirit and workout routine as an Olympic bobsledder and applied the lessons to his Forex career
- He values diversification among portfolios as a risk management strategy
The Cautionary Lessons in Chris Lori’s Success Story
- His conservative trading strategy is a niche approach with which many Forex traders may disagree
Jarratt Davis
Jarratt Davis is a self-taught Forex trader who became an FCA-regulated hedge fund manager. He is also an author and economist who teaches beginner traders about Forex trading.
The Positive Lessons in Jarratt Davis’ Success Story
- Jarratt Davis offers proof that beginners can teach themselves about Forex trading and succeed if they start with proper education
- His background as an economist helps him understand fundamental data and provides technical traders a reminder to consider fundamental developments
The Cautionary Lessons in Jarratt Davis’ Success Story
- His fundamental trading style is not aligned with the consensus, and traders considering his approach must ensure it suits them
Chris Capre
Chris Capre is a verified profitable trader and trading mentor and founded 2ndSkiesForex, where he educates beginners. Chris Capre has 18+ years of experience and specializes in price action and trading based on the Ichimoku Kinko Hyo Cloud.
The Positive Lessons in Chris Capre’s Success Story
- Chris Capre has mastered one technical indicator and trading style, which took him years, showing beginners that a focused strategy perfected over several years can deliver long-term success
- There is no substitute for experience, as shown by the long trading career of Chris Capre
The Cautionary Lessons in Chris Capre’s Success Story
- Using a mentor is not ideal for every trader, as mentors teach students based on what they have experienced, which does not necessarily reflect the student’s personality and character traits
How to Become a Successful Forex Trader in Australia
Do you want to rank among the most successful Forex traders in Australia, trade for a living, and fulfill the ultimate goal of Forex traders?
Forex trading is as diverse as there are Forex traders, and no approach fits all traders and personalities in Australia. I created a list to help beginners get started and point them in the educational direction to shorten their learning curve.
Tips on Becoming a Successful Forex Trader in Australia
- Invest in education
- Master forex trading psychology
- Practice patience and discipline
- Exercise flexibility
- Study risk management
- Follow your path
- Trade a strategy suitable to your personality
- Ignore the recommendations of others
- Learn from your mistakes
- Respect Forex trading as a high-skilled profession
- Fine-tune numerous Forex strategies
Bottom Line
It takes more to rank among the most successful Forex traders in Australia than simply trading with Australia’s best Forex brokers. Forex brokers provide the trading infrastructure, and Forex traders must ensure the trading conditions are competitive, but every journey begins with in-depth education. While similarities exist, beginners must plot their course through the vibrant Forex market to become long-term successful Forex traders, but they may use success stories for inspiration.
