Frequently Asked Questions

Wahed Invest (“Wahed”) is a discretionary portfolio manager that aims to provide an efficient and shariah-compliant investment platform. Our digital investment platform, sometimes also called Wahed or Wahed Invest, allows investors from all income brackets to invest their savings ethically and efficiently. Wahed’s corporate and regulatory information can be found in the legal section of our website.

While you may be able to buy the securities suggested by Wahed directly through your broker, you may not be able to get them all at the same time or in a cost-effective and efficient manner. In addition, some brokers may require a high minimum investment to open an account. Wahed also monitors and periodically rebalances your portfolio for no additional cost.

More importantly, you may not be able to open an account in the same seamless manner as you do with Wahed. With Wahed’s proprietary technology, you can open an account online in minutes and get access to global markets.

A minimum investment of $100 is required for you to activate your account and start investing with Wahed.

Individuals who are citizens or residents of the US can open an account with Wahed.

You will need a US social security number and a US permanent address.

All registered broker-dealers are required to collect clients' social security numbers for identity verification. You can learn more about it here https://www.sec.gov/fast-answers/answersbd-persinfohtm.html

No, you need to be 18 at least years of age to open an account with Wahed.

All your personal information is safe with us. We implement a variety of advanced data encryption measures to safeguard your data. We will never share your details with any third party without your consent. As your investment advisor, your trust is our most important asset. Please refer to our privacy policy for more details.

We help you invest your money in globally diversified portfolios. Wahed provides portfolio management services to its clients through the use of our advanced digital platform, which employs financial algorithms derived from Modern Portfolio Theory to create optimal portfolios that are tailored to the needs of our investors. By opting to use our services, you will be entering into an agreement that grants us the authority to invest and manage your funds.

Opening an account is simple.

1. To open an account with Wahed, complete a risk assessment questionnaire.
2. We will recommend an optimal portfolio based on the answers you have provided us.
3. If you are happy with this portfolio allocation, you will then proceed to complete the required registration forms.
4. Transfer funds into your Wahed account and we’ll invest them according to your chosen portfolio.

Our platform evaluates an investor's risk profile by asking them a few basic questions about their investment goals, liquidity needs, time horizon, as well as other other assessment topics. Based on this information, we recommend a portfolio with an  optimized combination of securities that may provide the highest potential return subject to the investor’s risk appetite. We use Modern Portfolio Theory to optimize and manage your portfolio at a fraction of the cost of most conventional wealth managers.

Our main objective is to provide a discretionary portfolio management service for any size of portfolio. We allocate a portion of funds into ETFs as they help reduce unnecessary overhead costs while providing efficient diversification benefits. Investing in individual assets involves multiple transactions, which can lead to higher costs.

We will rebalance your portfolio whenever:

• There is a change in your risk profile, which can have a significant impact on your investment goals.
• Whenever funds are added or withdrawn, we rebalance your portfolio to reflect this change.
• When there is a major change in market volatility.

We charge a simple wrap fee for our service, which is inclusive of management, custodian and transaction fees.

It is charged on your account size and ranges from 0.49% + $60 to just 0.49% per year. You can refer to our pricing page for more information.

This fee does not include any charges on wiring, IRA, wire withdrawals or other fees that may be charged by the custodian.

The ETF sponsors or mutual funds also usually charge expense ratios, which are not included in the wrap fee. These are extra fees you will pay indirectly (i.e., they are part of the cost of buying these ETF or mutual funds in the portofolio). We always review these fees when we implement our initial rebalancing and we might at times strategically hold certain securities where the trading fees are high relative to the actual value of the position. For more information about our fee structure, please refer to our Client Agreement.

You will be able to monitor your performance daily through the platform. You can also download your monthly statements from your app which will have a summary of your portfolio holdings and performance.

Shari'a-compliant investing is the practice of trading in investments that are reviewed for permissibility according to Islamic financial ethics, laws and industry practices. Generally, this will mean screening out investments in certain conventional business sectors, as well as reviewing such remaining candidates to ensure they meet established asset to debt ratios. For more information on how our team ensures investments are review for Shari'ah-compliant click here.

Wahed screens potential portfolio investment based upon a strict set of constraints in accordance with best-practice Shariah-compliance standards, reviewed by our Shariah supervisory board (SSB). In summary, any portfolio cannot hold investment of any company or fund that:

• Provides conventional financial services and any other related interest-bearing services.
• Manufactures/sells products or services not approved by our SSB (i.e. liquor, tobacco, gambling, adult entertainment, weaponry, etc).
• Does not have a certain percentage of real or physical assets.
• Does not meet certain debt ratios.

In order to display our commitment to best practices in the field of Shariah compliance, we have designated Shariyah Review Bureau, a leading Shari'ah financial advisory firm, as our Shariah advisor. Our Shariah advisor provides the external, independent experts who sit on our SSB and advise Wahed on matters of Shariah-compliance and Islamic financial ethics.

You can see the certificate here.

Some of the funds and investments in your portfolios do pay out dividends, however, the frequency of such disbursement will depend on each fund's policies.

The dividends received on your investments will be automatically reinvested into your Wahed account.

Unlike FDIC insurance for banks, SIPC does not protect against loss of principal due to movements in the market value of your securities. However, your investment is insured up to $500,000 per account type against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm. Your account is insured through our trusted broker/custodian, Apex Clearing Corporation, a member of the Security Investor Protection Corporation. For details, please see www.sipc.org.

The securities you own are subject to market risk. Fluctuations in market conditions are common, and when markets are down you may bear some loss. To make sure your portfolios are permitted under Islamic financial ethics, we cannot guarantee returns.

Your expected return depends on your risk profile, asset allocation and the related market performance of those portfolio assets. Users with a conservative profile are expected to earn less and be exposed to less risk than users with an aggressive profile, who will be exposed to more risk in exchange for possibility of higher returns.

You can view our portfolios' historical performance on our Investing page.

Please note that historical returns are not an indication or guarantee of future results. Any portfolio investments may gain as well as lose value.

To view your portfolio holdings, users can login to the Wahed app and under their Portfolio page, the Positions tab will show the current state of their investments.

All Wahed clients are invested into a globally diversified portfolio of securities. These securities are screened for Shariah-compliance.

Wahed's portfolio is designed to minimize risk and maximize return. There is no certainty in performance and your annual return will depend on multiple factors including your risk profile and market conditions. More aggressive profiles are expected to earn higher returns on the Wahed platform, but may also experience greater losses depending upon market conditions and the performance of related investments.

Yes, the minimum balance is $100. We strive to provide such a low balance in order to make our service accessible to everyone.

Looking to upload your document to complete your registration or update your information?

All you have to do is to login to your account and client on the Upload Documents Tab when asked for the document.

Yes!

You can now integrate your account with Mint.com via our custodian partner, Apex Clearing. Simply follow these steps:

1. Go to Mint.com and sign into your account

2. Once logged in, click the "Add Accounts" option in the top menu

3. Type "Apex Clearing" in the Search Field

4. Choose "Apex Clearing". You should then see a pop-up window asking you to "Link your Apex Clearing account to Mint"

Note: Mint's investment performance tracking and charting is not reflective of actual performance and should not be relied on. It is more useful for tracking your portfolio value.

• Mint's investment performance tracking can sometimes differ widely from actual results.
• Historical performance prior to the day you link your Wahed account will default to 0% in Mint.
• All performance metrics are compared against the value of your Wahed account the day it was linked to Mint - not your actual cost basis.

5. Enter your Apex user ID and password, and press "Link Account". Please note that this is not the same as your Wahed account details.

If you haven't already, you can create an Apex user ID and password here (click "Create a User ID"):

• Under "Firm", choose "Apex Clearing Corporation"
• Under "Account Number", enter your Apex account number starting with 8BX (you can find this number in the Wahed mobile app
• To verify your identity, you'll need to enter your Social Security Number
• You'll be asked to provide an Email Address and create a Secret Question
• Finally, you'll be asked to create a User ID and Password

6. Your Wahed account should now be linked to your Mint account! You'll find this in the Investments section, showing up as "Apex Clearing - [Your Name]"

Yes, we currently offer the following account types:

• Individual account
• Traditional IRA
• Roth IRA
• SEP IRA

You are also able to rollover and/or transfer your previous Employer Retirement Plans (ex: 401K/ 403B /457) and other IRAs to a Rollover IRA withinWahed.

All customers have access to our customer support team that will happily answer any questions regarding your account. However, we cannot alter anything with you over the telephone or in-person regarding your investments or your recommended allocation – this can only be done through the Wahed App. Furthermore, we cannot provide any financial advice or planning through our customer support team.

We calculate partial sales using the First In First Out method (FIFO method) This is the IRS’s (Internal Revenue Service) default accounting method. The IRS presumes that you’re selling the oldest shares first, which can lead to a larger capital gain if the oldest shares have appreciated more than those acquired later. Hence it is a default method for our clients.

For example:

You buy 100 shares of a stock for $50 each, and a year later buy 100 more at $60 each. By the next year, when the stock is trading at $80 each, you sell 50 shares. In this example, as per the FIFO method, it would mean selling your $50 shares first, resulting in a capital gain of $30 per share, or $1,500 in total.

Your gains or losses will be reflected daily in your account.

Yes. As your financial situation changes, it is important to keep us informed so we can determine whether to update our investment recommendations for you. Keeping your information up-to-date (e.g. address, name change, employment information) ensures we are providing the most relevant and personalized financial recommendations for your current financial situation.

Yes, it is important to keep your information up-to-date. Keeping your information up-to-date (e.g. address, name change, employment information) ensures we are providing the most relevant and personalized financial recommendations for your current financial situation.

We do not currently offer any tax planning. However, we hope to add tax planning to our list of services in the near future.

Wahed Invest services are only available to accounts opened at our brokerage partner, Apex Clearing Corporation. In order to provide our services, Wahed Invest must have the ability to electronically place trades for all of its accounts. This is currently not available at a reasonable price from any of the other consumer-focused brokerage firms.

You can see every transaction that has taken place on your account by logging into the Wahed app. We track the flow of every dollar for every Wahed account.

Should you need further assistance, feel free to email us at support@wahed.com

Apex Clearing Corporation will send you account statements at least monthly detailing your holdings and all account transactions. You can also view your accounts at all times through your Wahed app. Additionally, you will be able to download your monthly statement through the app.

Your assets are held in a brokerage account in your name at Apex Clearing Corporation. Apex Clearing Corporation, a correspondent brokerage firm, is a member of NYSE - FINRA - SIPC and is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. They have the proven leadership experience, capital position, and technology expertise necessary to serve our clients.

Yes, you can open multiple accounts all from one dashboard.

Once your first account is active and funded, you'll see a button on the dashboard that allows you to add new accounts under that same email.

If you wish to change your portfolio, here's how you can do it:

• Login to the app and go the main menu
• Go to your Account Details screen
• Under 'My investment account' tap on your account type
• Tap on 'Change my portfolio' at the bottom of the screen

This will allow you to retake the questionnaire or simply browse through our portfolios and/or change your allocation

If your account is active and funded, your positions will be adjusted within the next 1 to 3 business days.

If you haven't funded your account yet, the new portfolio will be updated immediately.

You can only change your portfolio once every time.

In order to manage the notifications you would like to receive from Wahed, login to your account in the app, go to Account Settings > Notifications

To generate a statement of accounts, you must login to your account via the app. From your Dashboard, scroll down till you see statements under Activity.

When creating a password during sign up, please ensure that the following conditions

are met:

• Length is at least 8 characters.
• Must contain both an uppercase and lowercase letter ('A' and 'a' or 'B' and 'b').
• Must contain a number (any number from 0 to 9).
• Must contain a special character such as !,@,#,$,%,^,&,*

ACH deposits and withdrawals are free of charge. Wahed’s Wrap Fee is inclusive of all management fees, custodian fees, and transaction fees, except for any wiring, IRA, withdrawal or other miscellaneous fees that are charged by the custodian.

Yes, you can request to close your Wahed account at any time. There are no account closure charges.

No, you will never be charged for an account with a $0 balance.

Fees are taken from your Wahed account. No action is required on your part.

Fees are charged monthly. You will never be charged for having an open account with a $0 balance. Kindly refer to the Wrap fee brochure to know more.

Recurring deposits can be a great way for you to start saving automatically.

Simply log in to your account, select the account you wish to fund and the frequency of the deposit and you're set.

You'll need to have a linked bank account first.

Should you require further assistance, please email us at support@wahed.com

We currently offer two funding methods, ACH deposits and Wire transfers:

Simply log in to your account, from your dashboard, select the account you wish to fund and follow the add Funds flow.

You'll need to have a linked bank account first.

Should you require further assistance, please email us at support@wahed.com.

It usually takes 1-3 business days, depending on the method of funding.

Wire transfers usually take between 1-2 days.

ACH transfers take between 3-4 days for the first ACH transfer to be reflected in your account.

We only accept funds in US Dollars.

If the Portfolio Value falls below $100 due to market changes, then the account status will remain Active.

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No, you may only withdraw funds to an account that bears your name.

No, there is no lockup period. You can request to withdraw all your funds at any time.

However, the withdrawal process may take up to 7-8 business days depending on the date of your withdrawal and bank. This is mainly due to a period of five business days for clearing and settlement of trades once your withdrawal request has been processed.

No, Wahed does not charge you for withdrawals.

You can only withdraw funds using the ACH method. To request another method kindly email us at support@wahed.com.

The timing of a withdrawal depends on several factors, including what time of day a withdrawal request is made, and the institution receiving your funds.

Withdrawals can take 7 or 8 business days before the requested funds are in your bank account. This is mainly due to the time it takes for trades to be cleared and settled.

To withdraw funds, you must login to your Wahed app and simply follow the instructions.

From your DASHBOARD> select Portfolio Name> under Funding, tap on Deposit or Withdraw funds> WITHDRAWAL> select PARTIAL (enter amount) or FULL> Select Reason for the withdrawal> select bank and submit.

Please note that all withdrawals will take 7-8 business days for the funds to be disbursed to your account (this is due to the time it takes to sell securities and wait for the cash to settle).

No, Wahed does not charge you for deposits.

No, we only accept funds in US Dollars as cash deposits.

No, you may only transfer funds from an account that bears your name. Transferring funds from an account under a different name will cause the funds to be rejected.

This service is currently not available. We accept funds from your bank or broker.

One of the reasons why this is not yet available is the fact that ACH and Wire transfers can be more cost efficient for the client.

No, we only accept funds in US Dollars as cash deposits.

In case of any queries or concerns regarding your account, you may reach us on Live Chat, via email at support@wahed.com or through our toll-free number at +1-855-976-4747. We will get back to you at our earliest.