Your money is held at custodian banks, whether in cash or securities.
Sarwa Invest and Sarwa Save
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.
Alpaca is the executing broker for Sarwa Trade and Crypto. Alpaca utilizes BMO Harris Bank as their custodian for client deposits. Your funds are transferred directly to your own independent Fully Disclosed Broker account held with Alpaca.
Note: The intermediate local transfers are held in Emirates NBD.