It’s one thing to want to invest your money—and another to make sure you’re doing it the halal, empowered, and informed way. That’s what we do inside our transformative Halal Investing Program Her Investing Program. Alhamdulillah, through Coaching our thriving Sisters Community we’ve gathered comprehensive insights on the most essential early steps: Choosing your Broker.
This blog post brings together our recommendations curated for you, the value-driven, ethical, intentional Muslimah.
What Is a Broker – and Why You Need One
A broker is your access point to the stock market. They execute trades, offer investment options, and provide the digital platform (website or app) for your portfolio. But here’s the catch, sis: not every broker fits your Islamic values.
⚠️ Many mainstream brokers offer CFDs (Contracts for Difference) or Forex trading—products most scholars classify as haram due to their speculative and high-risk nature. It’s not always obvious. That’s why we do due diligence before choosing.
Criteria to Choose a Halal-Conscious Broker
Which Broker Fits YOU?
There’s no one-size-fits-all. Below are Muslimah profiles we discussed in the session – find yours!
Broker Comparison Table
We’ve compared leading brokers to bring you this exclusive overview:
Understanding Halal ETFs
We had a powerful conversation in the coaching call: “Does halal ETF mean it only includes Muslim companies?”
The answer: Not necessarily. Halal ETFs include companies that pass Shariah screens (e.g., no interest-based revenue, gambling, alcohol, etc.). However, even within halal ETFs, up to 5% non-compliant revenue is tolerated, which must be purified (like giving away part of your gains as sadaqah).
Examples of Halal ETFs:
- HLAL Wahed FTSE USA Shariah ETF
- UMMA Wahed Dow Jones Islamic World ETF
- SPUS SP Funds S&P 500
Use tools like Zoya to screen or Amal Invest to manage purification automatically. We’ve got solutions for you, sis. ✊🏽
Practical Ethical Investing Tools
What’s Next?
- Choose your broker based on your unique Muslimah investor profile.
- Receive More Resources like This in our Email List
- Access all Ethical & Halal Investing Resources for free in our Beginner Course
- Follow us @herislamicfinance
Ready to Start?
We created the Her Investing Program so you never have to walk this journey alone. With sisterhood, halal guidance, and real-world tools, you’ll feel confident investing your money with purpose and barakah.
Her Islamic Finance is your Swiss-based Finance Educator taking Muslimah’s all over the world through Financial Literacy – Investing – Leaving Their Legacy. Read the 5-star Reviews of our Thriving Community here.