Yes, for investment products that are invested in US-domiciled ETFs; all currencies are converted into USD to be invested as USD.
AED to USD conversion is done at the spot rate and the only cost associated is the currency conversion fee, which is charged by our vendor, at 0.08% on top of the spot rate. This preferential rate, which StashAway has negotiated with the bank, compares favourably against the significantly higher currency conversion fees charged by commercial/retail banks (can easily be in excess of 1% depending on transaction size).
StashAway Management (DIFC) Limited is regulated by the DFSA (license number F006312) for the provision of arranging custody, arranging deals in investments, advising on financial products, and managing assets, with a retail endorsement.
StashAway Management (DIFC) Limited (registration number CL 3982) is established in the DIFC pursuant to the DIFC Companies Law. Its registered address is Unit 1301, Level 13, Emirates Financial Towers, P.O. Box 507051, Dubai International Financial Centre, Dubai, United Arab Emirates.