Guidance for getting started with Halal Stocks/Investment for beginners

Assalam Alaikum, Is there a getting started guide for beginners on halal stock investments at smaller steps a time? Any guidance would be really helpful.

Looking at the following info:

  • What account to open to buy and sell halal stocks. Please provide information on the sites.
  • Is there a way I can buy and sell stocks without any service or account fee?
  • As for families running by monthly paycheck, a minimum monthly investment in stocks say $200 can help? Or suggest an approach. As investing hugely in stock for $1,000 or more is unaffordable.
  • Apart from Stock, what other Sharia-compliant investment in a smaller way is available. Say $500 on a quarterly basis.
  • How to manage and track my stocks online or through excel or any other mode

My apologies for posting all these newbie questions. I believe there are many like me to get started with the halal and sharia-compliant approach on stock and investments will find it helpful.

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Hello Akbar,

A1. Please indicate your experience investing in stocks / mutual funds / etfs. Based on your responses the community may be able to guide you

A2. For US stocks traded on exchange, there is no brokerage fee. So answer is yes.

A3. Recurring investment programs are a good option. There are platforms where you can invest with $100/month

A4. There are roboadvisors and ETFs

A5. Brokerage platforms are decent way to track the portfolio unless your needs are very spercial / complex.


Hi Abid,
Thanks for your detailed response. I have no experience with stocks or ETFs. That’s the primary reason for my posting.

Could you provide details about those platforms for Answer 3 (A3),
For A2, Is there something similar available for the Canadian stocks trade?

Since you have no experience with stocks and ETFs, I would recommend getting familiar with Mutual Funds and ETFs. In short a Mutual fund or ETF is a collection / basket of many stocks in one umbrella. You buy the fund instead of selecting many stocks one by one. You get instant diversification if you chose a diversified fund like a broad market index fund such as one for the US Total Stock Market , S&P 500 and so on.

I am not aware of free brokerage for non US stocks. Are you looking mainly at Canada? There is a new ETF in Canada. And there are a handful of US listed ETFs as well. See the ETF thread that lists them

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What would your advice be for starting investing for someone in the UK? There are far too many apps around and I don’t want to accidentally buy in something impermissible.

Assalam alaikum,
As a beginner i’ve invested in IMANX and HLAL mutual funds and Alhamdulillah i’m happy with their performance. Learning about them they look funds that invest in common stocks that meet Islamic principles.

Thanks, Syed Jamaluddin. Could you provide more info on what platform you have used for this investment? Wealthsimple?

My 401k account is linked with Ameritrade hence i use that platform. Thanks.