Successful Forex Traders In Uzbekistan For 2025

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Public records confirming the success of individual Forex traders in Uzbekistan are limited. One widely mentioned name is Shohjakhon Eshniyozov, better known as “Brat,” who says he began trading at age 17 with $1,000 and by 2014 was managing $19 million. However, these claims have not been independently verified. Other traders with large followings online often focus more on promoting paid courses and signal services, with little evidence of actual trading performance.

Uzbekistan’s Forex market operates without local regulation. Traders in the country use international platforms that are licensed abroad. There is very little verified data on how individual Uzbek traders perform. Still, one personality has been featured regularly in international media and has gained attention among trading circles. Apart from this example, there are a few public figures linked to trading in Uzbekistan. However, concerns around the clarity of their operations and marketing focus remain, which is why they are not included in this overview.

Who are the most successful Forex traders in Uzbekistan?

The Forex market in Uzbekistan is growing fast, though still somewhat behind the scenes. Interest in currency trading is rising: new traders are opening accounts with international brokers, Telegram channels are full of tips, and social media is flooded with stories of success. But when it comes to top Forex traders in Uzbekistan, people with real results and clear strategies, reliable public details are hard to find. In this crowded space, one name does stand out. Most others mentioned in local forums seem to be more talk than proven fact.

Shohjakhon Eshniyozov — a singular profile

Often called “Brat” (Brother) or “The Wolf of Uzbekistan,” Shohjakhon Eshniyozov is the only trader from the country who has gained attention from outside Uzbekistan. Based on his own account, he started trading at 17 with $1,000 and claimed to have grown it to $19 million by 2014. These stories were first seen on Binance Feed and later on ICOholder, highlighting one of the few successful Forex traders Uzbekistan has publicly recognized. His journey continues to be talked about for the way he approaches trading, even if full verification remains limited.

Shohjakhon Eshniyozov

Eshniyozov promotes a strategy he refers to as the “anti-crowd algorithm,” combining trading behavior insights with chart-based tools. He says he operates on his own, no broker links, no paid signal services, and no public trades made just for attention. His online activity is notably low-key, especially compared to louder voices in the space, yet his Telegram posts often spark lively debates and widespread sharing.

Still, there are no public audits, trade logs, or official credentials to back his claims. His story remains unverified by any formal standard. Surprisingly, that hasn’t hurt his image. If anything, it has helped build a kind of legend around him in the Central Asian Forex community.

Potential for success in the Forex market in Uzbekistan

Uzbekistan's Forex market is changing quickly, offering new chances for traders who understand how it works.

In 2024, the country's foreign exchange reserves grew by 19.1%, reaching $41.182 billion by January 1, 2025. This was mainly due to a 30% increase in gold holdings, while foreign currency assets went down by 8.3%. This shift towards holding more gold shows a careful approach to dealing with currency ups and downs. For traders, it means keeping an eye on how such changes might affect market liquidity.

Recent rule changes have made Forex trading in Uzbekistan more accessible. The government removed the need for too much paperwork and no longer requires Central Bank certification for foreign exchange points. These steps show the market is becoming more open. Still, traders need to stay updated on the rules to ensure they're following them properly.

Take Shohjakhon Eshniyozov, for example. He started trading at 17 and is now a well-known trader in Uzbekistan. His story shows how important it is to start learning early, stick to a plan, and be ready to adapt. New traders can look to stories like his for inspiration.

But it's not all easy. Since there aren't many local Forex brokers in Uzbekistan, traders often use offshore platforms, which might not offer the same protections. Also, while high leverage options like 1:500 are available, they can be risky, especially for beginners. It's important to have a careful plan and understand the risks before diving in.

Current legal framework and regulation

Forex trading is legal in Uzbekistan. However, there are no clear rules made specifically for the Forex industry. The Central Bank of Uzbekistan looks after the wider financial system, including banks and officially licensed companies, but it does not directly monitor Forex brokers.

Because of this, most local traders open accounts with international brokers that are regulated in places like the UK (FCA), Australia (ASIC), or Cyprus (CySEC). This gives them access to a broader range of trading tools and platforms, but it also means they need to handle their own tax matters and fully understand the risks that come with using brokers based outside the country.

Opportunities and challenges for traders

Opportunities

Volatility creates short-term setups. The Uzbek som can swing sharply due to policy updates, which smart traders can use for quick gains.
Gold-backed reserve trends signal market timing. Since Uzbekistan's central bank is moving heavily into gold, traders can sync gold-USD correlations to time entries better.
Regulatory simplification attracts liquidity. Newer reforms have reduced barriers to entry, pulling in more volume from regional retail traders and overseas brokers.
Less market saturation creates niche edges. Compared to overexposed global markets, Uzbekistan's Forex landscape is underexplored, letting disciplined traders dominate small niches.

Challenges

Offshore broker reliance weakens security. Most traders operate through foreign platforms, meaning fund protection and dispute resolution are weak or nonexistent.
Data access remains limited. Real-time economic indicators or monetary policy signals from domestic sources are delayed or scattered, making precise analysis hard.
Regulatory gaps create tax uncertainty. With no clear tax policy on Forex gains, traders risk unexpected audits or backdated liabilities if compliance isn't proactive.
Inconsistent internet infrastructure disrupts execution. Outside major cities, internet drops and latency issues can mess with trade timing and stop-loss accuracy.

What the richest Forex traders in Uzbekistan teach

Not many people outside the region know how skilled some of the richest Forex traders in Uzbekistan really are. Traders like Dostonbek K., who is said to have grown just $5,000 into over $1.2 million between 2019 and 2023, don’t copy the usual online playbook. They focus on currency pairs like the ruble or yuan, and even currencies most traders don’t even look at. These pairs move based on local politics, cross-border deals, and trade flows that others miss completely.

These traders pay close attention to political links more than chart patterns. For instance, when Kazakhstan changed its fuel policy in 2022, the Uzbek som surged. Traders who understood how connected these economies are jumped on the opportunity early. They weren’t following indicators, they were following trade trucks, customs rumors, and wheat shipments. It’s not textbook Forex. It’s regional macro thinking.

Their risk methods are just as different. Instead of setting fixed stop-losses, many use flexible methods to protect their trades. One well-known trader hedged ruble exposure using futures on the Moscow Exchange while taking bigger positions in Forex. This strategy that spans across different markets gives them room to profit while limiting their downside. It’s smart, technical, and takes real experience to pull off.

There’s also a strong local network behind it all. Many top traders in Uzbekistan get updates from private chat groups they trust. They swap data from customs, shipping routes, and even border checks. This information never hits the news, but it moves prices. They’re not just reading charts, they’re reading the ground reality. And that’s why the top Forex traders in Uzbekistan often seem a step ahead of the rest.

If you’re looking to trade Forex in Uzbekistan, we suggest you open an account with a Forex broker that is built for traders from your country. In the table below, we have presented the top few of such brokers for you to compare and choose from:

Best Forex brokers for traders from Uzbekistan
	Currency pairs	Min. deposit, $	Max. leverage	Withdrawal fee, %	Regulation	TU overall score	Open an account
RoboForex	40	10	1:2000	0-4	FSC	8.9	Open an account Your capital is at risk.
XM Group	57	5	1:1000		CySEC, FSC (Belize), DFSA, FSCA, FSA (Seychelles), FSC (Mauritius)	9	Open an account Your capital is at risk.
Exness	100	10	1:2000		FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, CBCS, CMA	8.7	Open an account Your capital is at risk.
TeleTrade	60	10	1:500		SVGFSA	8.6	Open an account Your capital is at risk.
VT Markets	55	100	1:500	1-3	ASIC, FSCA, FSC Mauritius	8.69	Open an account Your capital is at risk.

We at Traders Union have analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we encourage users to perform independent due diligence and consult official regulatory sources before making any financial decisions.

Learn more about our methodology and editorial policies.

Uzbekistan’s top Forex traders profit from risky news windows and peer-led exit signal

The wealthiest Forex traders in Uzbekistan don’t trade in isolation. They rely on tight-knit circles of trusted peers to share quick exit cues, especially during unpredictable news events. It’s not some fancy platform feature, it’s an underground rhythm built on trust and timing. While most beginners freeze or wait too long, these traders move almost instinctively. They're reading each other, not just the charts, and they get out before the chaos hits.

One thing that sets them apart is how they time their trades around regional ripple effects, like sudden changes in Russian gas policy or export news from China. Instead of waiting for big currency headlines, they look for small reports that trigger fast market jitters. While others panic or stay out, these traders dive into short bursts of volatility, make their moves, and get out fast. They’re not chasing trends, they’re trading the tremors.

Conclusion

Forex trading in Uzbekistan functions through external platforms and individual trader decisions. There are no internal regulatory mechanisms, so each operational element, broker selection, trading method, information source, requires independent verification. In this context, procedural accuracy and system integrity become directly relevant. Structural missteps can result in disruptions regardless of market insight. A consistent approach to evaluating risk, trading conditions, and legal frameworks creates the foundation for sustained activity. This foundation is shaped through operational choices rather than imposed guidelines.

FAQs

What account types are suitable with limited starting capital?

Cent and micro accounts allow trading with minimal lot sizes and lower margin requirements. They offer a way to test strategies in live conditions with controlled financial exposure.

Are there any restrictions on using automated trading systems in Uzbekistan?

There are no formal restrictions, but stable access to VPS servers and reliable internet is essential. Technical infrastructure should be tested in advance to avoid disruptions.

How can a trader protect funds when working with a broker without local representation?

Use segregated accounts, review contract terms carefully, and document all transactions. It's also useful to keep backups of correspondence and trade confirmations.

Can a trader from Uzbekistan open a corporate trading account?

Yes, though it usually requires registering a company in an offshore or international jurisdiction. This setup is practical for managing pooled capital or operating structured investment activity.

Team that worked on the article

Maxim Nechiporenko has been a contributor to Traders Union since 2023. He started his professional career in the media in 2006. He has expertise in finance and investment, and his field of interest covers all aspects of geoeconomics. Maxim provides up-to-date information on trading, cryptocurrencies and other financial instruments. He regularly updates his knowledge to keep abreast of the latest innovations and trends in the market.

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).