Who holds the money & executes the trades?

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Your money is held at custodian banks, whether in cash or securities. Your investable cash and securities are held in a custodian account at the Denmark-domiciled Saxo Capital Markets, where they ultimately sit with custodians such as Citibank. Our custodian account at Saxo Bank is regulated by one of the EU’s top financial regulators, namely Finanstilsynet, the Danish Financial Supervisory Authority. The intermediate local transfers are held in Emirates NBD.

Note: If you are still part of the previous account structure with Interactive Broker based in the US., Sarwa does not hold any cash the account you open and fund is under your name.