Herzlia alumni, Harry Scherzer and Josh Kotlowitz, who last year made waves in the investment space with their Digital Arbitrage investment service, have now set their sights on transforming the local forex and international payments space.
One of the common challenges that many individuals and SMEs face is transferring funds cross-border, be it for a foreign investment or conducting an import/export payment.
Most forex services only offer a ‘hands-off’ approach whilst charging a large premium to do so, making it a costly headache for South Africans to transact internationally. This is where Scherzer and Kotlowitz’s company, Future Forex, is stepping in to assist.
Future Forex, an authorised Financial Services Provider (FSP #51884), is powered by a team of qualified dynamic professionals focused on using technology and a client-centric service to reshape the forex industry in South Africa. “We are accomplishing this by providing a premium, single-point-of-contact service along with far more competitive rates than current providers in the market,” says Scherzer, a qualified actuary and CEO of Future Forex. “When operating in the forex space for our arbitrage investment service, it became clear to us that there is huge potential for improvement. We’re making these improvements a reality.”
“Future Forex’s genesis was becoming the market-leader in one of the best-performing investment products in South Africa,” says Kotlowitz. “Our Digital Arbitrage investment service has to date delivered an average annualised return in excess of 40% to thousands of clients.”
“This played a pivotal role in developing the service we have today, from building the technology, to forming strategic partnerships, growing our team and ultimately forming our long-term vision,” adds Scherzer.
Future Forex is growing at a rapid rate, with over R10 billion worth of forex deals processed since the beginning of 2022. With a team of over forty-five Relationship Managers, Chartered Accountants, developers, engineers and actuaries, Future Forex is reimagining this industry already.
Their forex service caters to businesses and high net-worth individuals needing to make or receive international payments efficiently and cost-effectively. Each client is assigned a dedicated Relationship Manager to ensure they have a single-point-of-contact. They also offer FEC (Forward Exchange Cover), CFC (Customer Foreign Currency) accounts and trade finance services to serve a wide range of forex requirements.
• Published in the April 2023 Edition – Click here to start reading.
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