7 Best Halal Investment Apps

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It has become challenging to find the right Halal investment opportunities today. May it be banks, stocks, or bonds, things are escalating like never before, and the investment opportunities for Muslims are transforming more into a western facade.

If you consider yourself an excellent Muslim, then it is essential to do your research before you invest, in other words, if you want to make money in a halal way then commence your venture with the right halal investment apps.

This article will walk you through some of the most reliable and halal investment apps of today. You can also read on The Best Strategy of Investment.

If you have little to no knowledge about what halal investment is, then keep on reading.

What is Halal Investment?

In simple words, halal investment is earning money ethically, and according to Shariah Law. Muslim investors most likely choose to invest in companies that generate revenue via halal means.

Basically, in halal investment, you forbid yourself from investing in non-shariah compliant options, companies, or industries. As investing in them would be a sin, and you would be earning a forbidden source of income.

By following Halal investment methods such as investing in the halal investment apps as we are going to talk about later on, you can generate your wealth by fair means.

What Makes an Investment Haram?

There is a myriad of businesses that don’t follow laws in Islam. These are known as non-shariah compliant companies/industries. These are the ones you should never invest in as an Islamic individual. Investing in them would reduce your chances of halal income ultimately, which is very important for Muslims. Some of them include:

  • Alcohol and tobacco sellers
  • Gambling
  • Conventional financial services that feature transactions based on interest, speculation, and/or gambling

Now, the question that comes to mind is that, who can you trust and who can’t.

Here’s where we come in.

We will disclose 7 apps to you that will help you find halal investment opportunities near you, along with other benefits.

So, without wasting any more time, let’s dive into the details:




(Get $10 code:

7 Best Halal Investment Apps

1. Wealthsimple

Wealthsimple is a rapidly growing online investment platform. It offers its clients a low-cost option to boost their wealth through their smartphones. You will find an opportunity to invest in companies that follow Sharia rules and regulations.

Clients do not have to go through the hassle of adjusting their portfolios and choosing funds to invest. It works in a simple manner, which involves depositing and withdrawing money.

Moreover, Wealthsimple allows investing internationally to minimize the risk of loss. Many scholars have approved of it, and they have many satisfied customers so far doing business on this app.

2. ShariaPortfolio

ShariaPortfolio aims to provide its clients with Sharia compliant investment opportunities so that they can have Halal investment options. You won’t find any companies that are involved in the manufacturing of tobacco, alcohol, gambling, etc.

This platform thoroughly follows the principles of Sharia and provides Sharia compliant investment strategies to customers. It also rules out companies that are highly in debt. ShariaPortfolio has a plan of action that allows you to adjust portfolios according to 3 characteristics:

  • Their preferences
  • Financial aims and goals
  • Risk tolerance of the client

3. Robinhood

Robinhood is a growing online investment platform popular for investing in stocks, ETFs, cryptocurrencies, and other options. It is different from other investment firms because it charges no commission from its clients and allows its clients to make investments in their preferred stocks and customize their portfolios.

It can also be used as a Shariah-compliant investment platform by using third-party screening services. This way, clients can make investments that entirely follow the basic principles of Sharia.

One of the highlights of this app is its intuitive user interface, which makes sure that clients can use the platform efficiently and with no hassle.

It keeps its clients updated with its list of stocks, news, and notifications on new and latest investment options. This ensures that clients do not miss any opportunities to boost their wealth.

4. Wahed Invest

Wahed Invest is one of its kind investment platform that offers its users and clients the opportunity to make ethical and Sharia-compliant investments diversely.

You can invest in global stocks, emerging market stocks, gold, etc. It entirely follows the rules and regulations ascribed by Sharia and does not offer investments to companies that are not Sharia-compliant.

In other words, companies that deal in activities that are forbidden in Islam, such as the creation/selling of alcohol, arms, tobacco, etc, are banned on this app. Hence, you’ll be doing business with companies that follow Shariah.

It has a 3-step plan of action that goes as follows:

  • You can open an account and make hassle-free deposits.
  • Investments for clients are bought by Wahed Invest themselves.
  • It offers a suggested portfolio on the basis of the risk profile.

Wahed invest has thousands of international clients that make investments. The best part about this investment platform is there is no requirement for a long-term commitment, and clients can make investments with as little as $100.

A deposit or withdrawal request can be made at any time from anywhere with the touch of a button.

Moreover, it allows clients to start saving for their future efficiently and to help clients find the right investment strategy by offering a simple questionnaire.

The investments are screened for interest, securities, and high debt. Moreover, they are certified as Sharia-compliant by the Sharia Review Board as per the AAOIFI standards.

Use my referral link to receive $10 when you get started with Wahed invest: Referral code: abdabd55.

5. Fundrise

Fundrise is an investment platform that is different from other investment platforms because it allows its clients to invest in private real estate instead of stocks.

It keeps the price of real estate at a minimum by purchasing through negotiation. Furthermore, clients can create diverse portfolios, starting with just one investment.

This app will save you the hassle of finding and dealing with complex options, thanks to the assistance of experienced professionals at your disposal.

One of the best traits of this app is its automated system, which allows clients to make investments in the latest and best investment options efficiently.

Fundrise also uses a useful direct-to-investor distribution model, which is entirely online. The individual properties are bought and managed by eDirect investments, and as a result, it assists in gaining access to much broader and more diverse investment options.

In case a client prefers making Shariah compliant investments, he/she can opt for third-party screening to be well-informed about the income sources of a company.

In this way, Fundrise can be utilized as an ethical investment platform that provides its clients with the option to invest in companies that have Halal income sources and follow the basic principles of Sharia.

6. M1 Finance

M1 Finance is another investment platform that offers its clients services such as individual stocks and bonds investing and commission-free Robo-advising. It has an automated system with features that include recurring deposits, rebalancing, and tax efficiency.

You will love its user interface as it makes it very easy to open an account and allows users to use or open more than one account simultaneously. Investments can start with even at $100.

The best thing about it is that it’s commission-free and allows clients to make a third-party screening for companies with halal income sources that follow the rules and regulations ascribed by Sharia and Islamic law.

Hence, this investment platform can also be used for making Shariah compliant investments that will also boost your wealth by staying in the Islamic boundaries.

7. Amana Funds

Amana Funds is a non-profit investment firm that is associated with the Fiqh Council of North America. It allows only halal investments to those companies that have 0 interest in its platform.

Companies that have a debt of more than 33% are screened. Investments are also not offered to companies that have more than 5% of haram impermissible income sources.

It allows its clients to track the business activities of a respective company so that they can be aware of the sources through which the company generates its revenue.

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Now that you know about the safest, reliable halal investment apps, what are you waiting for?

We also took a survey to find out what the current users had to say about these apps. It turned out that a hefty number of users were happy with the services.

One of the best benefits of these apps is that you can use them anywhere. Whether you’re at work, in the office, or outdoors, all you need to do is take out your phone and choose from multiple investing options. You can buy shares or sell them with a click of a button!

Lastly, these apps are safe to use and won’t disclose any information about you while you’re using it. So, if you’re looking forward to putting your hard-earned money into halal investments, then these apps are the best choice available to you.

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Tags: Halal Investment, how to invest, Investment

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