Hello Everyone ,
i wanted to ask if alpaca a halal brooker because i am starting and i just want to be at the safe side so if i opened an account at alpaca just to link with zoya .this consider halal or haram
You can have your brokerage wherever you want, the place you have your brokerage does not matter much. What matter on the stocks you will be owning.
Remember though, there are different opinions on what stock is halal or not. Some of them are considered totally harms if the company is in the haram business. Different apps or people use different standards to say whether a stock is halal or haram
Just one thing you should consider. I hope this helps
As @Thierno already stated, as long as the stocks you’re buying are Shariah-compliant, it doesn’t really matter which broker you use. However, for Alpaca specifically, I would suggest making sure the following settings are configured for your account. You can find them at Alpaca – Crypto, Stock Trading API.
- Shorting disabled
- Max Margin Multiplier: 1
- Options disabled
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