Wealthsimple halal in Canada?

[carllundin]

Hey guys, I’m new to investing in stocks and I was looking to open up a TFSA with Wealthsimple and invest in individual stocks and some ETFs. Is this halal?

 

[that_tony_guy]

@carllundin Wealthsimple is the brokerage so as long as what you buy and sell are halal you're good to go.

 

[crystalplant]

@carllundin They have a Halal ETF. That you can signup and put money in to.

Other than that as the beardedjoy said. Long as you using it to invest in halal stocks/etf’s you’re good.

 

[realitywild777]

@crystalplant Diversify though, checkout SPUS, HLAL, GLDM, SPRE, SPSK, UMMA

 

[crystalplant]

@realitywild777 Definitely! The only ETF I have invested in using Wealthsimple is SPUS. I haven’t made time or budget to throw more into other ETFs.

 

[realitywild777]

@crystalplant Even though the ETF's I have mentioned above have lots of similar holdings, the percentage per holding varies though. Do look into them and diversify to reduce risk and most importantly, make sure that your investments are halal

 

[crystalplant]

@realitywild777 Thanks brother. Ramadan Mubarak if you starting tomorrow!

 

[realitywild777]

@crystalplant keep me in your dua, taraweh started tonight

 

[jasinswift]

@crystalplant i invest in WSHR automatically via the wealthsimple invest.

Unfortunately, they dont have another ETF or option to automatically invest in other ETFs, you'd have to put money in the app, and buy the etf/stock manually.

 

[cautiouslittlehope]

@carllundin Some people mentioned that WS doesn't have access to the sukuk ETF SPSK. If this is something you want to invest into, consider other brokerages, like NBDB.

 

[counselorwriterdad]

@carllundin Aslam Alikum guys how old should someone be to open up a retirement account and which ones are halal like I’m not sure how Roth IRA works