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.
Alpaca is the executing broker for Sarwa Trade. Alpaca utilizes BMO Harris Bank & Silicon Valley Bank (svb) as their custodian for client deposits. Clearing and Custody (Custodian) services is provided by Velox Clearing and Vision Financial Markets for securities. Your funds are transferred directly to your own independent Fully Disclosed Broker account held with Alpaca
Our broker (Alpaca) works with crypto custody provider Fireblocks. When you liquidate your crypto positions, the fiat cash will be held at Silvergate Bank and BMO Harris Bank, N.A.
Note: The intermediate local transfers are held in Emirates NBD.