Not all investment platforms are equal for halal investors. Here is what matters most.
- Access to UCITS halal ETFs (ISWD, HIWO, HIUS) — not all platforms carry these
- Stocks and Shares ISA wrapper — essential for tax-efficient investing
- Low fees — percentage-based fees hurt small portfolios; flat fees suit larger ones
- FCA regulation — always verify the platform is regulated by the Financial Conduct Authority
- Ease of use — you need to be able to actually use it
There are two approaches: a dedicated halal platform that does the screening for you, or a mainstream platform where you select halal ETFs yourself. Both work. Your choice depends on how hands-on you want to be.
The Islamic perspective
The platform itself is not a Shariah concern — it is simply an account. What matters is that you invest only in Shariah-compliant funds. On dedicated halal platforms like Wahed, this is done for you. On mainstream platforms, you must select halal ETFs yourself and verify each one.