Investing your money can be a tricky business. There are so many different options out there, and it can be hard to know which one is right for you. If you’re a Muslim investor, you may be wondering if Wahed Invest is the right choice for you. In this blog post, we’ll take a look at the good, the bad, and the ugly of Wahed Invest to help you make up your mind.
The Good: Why Wahed Invest is a great choice for Muslim investors.
Halal Investing: Wahed Invest only invests in halal companies
This is a great choice for Muslim investors because it means that their money is not being used to support businesses that are haram (forbidden). This includes businesses that are involved in gambling, alcohol, tobacco, pork, or interest-based financial products.Supporting Islamic Finance: Wahed Invest is dedicated to supporting the growth of Islamic finance
This is important because it helps to ensure that the financial needs of Muslims are being met in a way that is consistent with their values. Islamic finance is a growing industry, and Wahed Invest is committed to helping it grow.
There are many reasons why Wahed Invest is a great choice for Muslim investors. The company’s dedication to halal investing and its commitment to supporting Islamic finance make it an ideal option for those who want to invest in a way that is consistent with their values.
The Bad: Why Wahed Invest is not the best choice for everyone.
High Minimum Investment: Wahed Invest requires a high minimum investment
For many people, the high minimum investment required by Wahed Invest will be a dealbreaker. The minimum investment is $500, which is higher than many other robo-advisors. This can make it difficult for people with limited resources to invest with Wahed Invest.Limited Investment Options: Wahed Invest only offers a limited number of investment options
Wahed Invest only offers two investment options: a halal portfolio and an Islamic finance portfolio. This can be limiting for investors who want more choice in how their money is invested. Additionally, the portfolios are not very customizable, so investors may not be able to align their investments with their personal values and beliefs.
The Ugly: Why Wahed Invest is not the best choice for everyone.
Lack of Transparency: Wahed Invest is not very transparent about where it invests your money
Wahed Invest does not disclose where it invests its clients’ money, making it difficult for investors to know whether their money is being used in a way that is consistent with their values. This lack of transparency is a major concern for many Muslim investors.Poor Customer Service: Wahed Invest has poor customer service and is often unresponsive to customer inquiries
Wahed Invest’s customer service is poor and they are often unresponsive to customer inquiries. This makes it difficult for investors to get the information they need about their investments, and can lead to frustration and confusion.
If you’re a Muslim investor looking for a halal investment option, Wahed Invest is a great choice. However, if you’re not Muslim or you’re looking for a more diverse investment portfolio, Wahed Invest may not be the best option for you.