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No, that's not how it happens! The moment you initiate the trade the money gets locked on that platform, and you're not opening trade on any of those without depositing money, which means they have left your control!
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Now the escrow address is a
2-of-2 multi sig, from the 2-of-3 is used to be, and the only parties involved in it
now are the traders. Technically the funds still remain in your custody until the end of the trade and the platform has no access to it.
No! The funds are not in your custody since you can't access them freely without a second-party agreement on it!
It's a false sense of security but it's the same thing when looking at the final decision, the only difference between this and the CEX is that the CEX can't move your funds without you accepting but at the same time, from your point of view you can't recover those funds without a third party accept either.
So no, you're not in control!
Being in control of funds means you can move them at any time in any fraction of the total sum as you desire, not happening in the above scenario.