ForexQ.com
ForexQ.com
According to its official website, InvestSky is an investment app for investors in the Middle East and North Africa that combines trading with a social community; its UAE page says it offers commission-free trading in more than 10,000 US shares and ETFs, investing from 1 USD with fractional shares, Sharia-compliance identifiers, extended trading hours, dividend reinvestment, company data and the option to follow verified investors. The site says InvestSky is regulated by the DFSA and holds a Category 4 licence with a retail endorsement. Under its terms of business, the services are provided by InvestSky Financial Limited in the DIFC; the company is a subsidiary of InvestSky Holding Limited in the Cayman Islands, clients are classified as retail clients and orders are carried out through Alpaca Securities LLC, a US broker-dealer registered with the SEC and a FINRA member. According to the pricing page, no commission is charged on shares priced above 1 USD, instant card deposits carry a 3.5–4.5% fee and withdrawals carry a 30 USD wire fee. The company states that its service in Saudi Arabia is offered under a FinTech Lab permit from the Capital Market Authority (CMA) in partnership with anb capital, which provides brokerage and custody. InvestSky Financial Limited, listed in the DFSA register under reference F007447, holds a retail client endorsement and is authorised for arranging deals in investments. This information is the company's own statement.