ForexQ.com
ForexQ.com
According to its official website, Sav is an AI-driven money management and investment app for expats living in the UAE. The app offers fractional investing in more than 10,000 US shares and ETFs (a flat 1 USD or 0.25% of the traded value per trade), detection and investment of idle cash, physical gold and silver stored in Emirates Gold vaults, a prepaid Sav Card with 5% cashback, and tracking of several accounts on one screen through open banking (MyMoney); an asset-backed credit line is announced as "coming soon". The site says US share trades are executed through a licensed US broker-dealer registered with the SEC and a member of FINRA, that precious metals services are provided by SavMoney Gold Trading LLC, and that the card is provided by NymCard Payment Services LLC, licensed by the Central Bank of the UAE. According to the site, Sav Technologies Limited is registered in the DIFC, is a wholly owned subsidiary of Sav Technologies Inc. of Delaware, USA, and holds a DFSA Category 4 licence with a retail client endorsement. The company, listed in the DFSA register under reference F009281, is authorised for advising on financial products, arranging deals in investments, advising or arranging on money services and arranging credit. This information is the company's own statement.