What medium do you use to buy Halal ETFs and Indices?

💰 Everyday Islamic Finance Savings & Investing
#1

Salam Alaykom
Please help me by suggesting some apps or online platforms that I can use to invest in halal indices or ETFs such as the S&P shariah for example.

Currently using revolut for individual stocks but it doesnt offer index or ETF options.

Thank you

#2

Any decent broker such as Schwab/ Fidelity should support ETFs, Stocks , Mutual Funds.

1 Like
#3

Welcome, @Bassel_Basha! You can’t invest in indices directly but you can invest in funds that track a particular index. For example, here in the US, you can invest in the $SPUS ETF which aims to track the S&P 500 Sharia Industry Exclusions Index.

As for brokers, assuming you’re outside the US, Interactive Brokers would probably be your best bet.

5 Likes
#4

Hello, Can you suggest other platforms for people outside the US ? my friend used to have an account in uphold where he would buy stocks but they forced him to sell everything saying they don’t support his country of residency anymore, he lives in Algeria btw.
Thank you