Webull is a brokerage platform that allows for trading of securities. The buying of stocks and ETFs that are shariah compliant is permissible but only through a cash account (you pre-fund the account). The trading of stocks through a margin account is impermissible as it involves borrowing from the brokerage.and thus involves interest which is impermissible.
For a list of shariah compliant stocks, you may use the following screeners (non-exhaustive):
- Musaffa
- Islamicly
- Muslimxchange
For ETFs that are Shariah-compliant in the US market:
- Wahed FTSE USA Shariah ETF (HLAL)
- SP Funds S&P 500 Sharia ETFÂ (SPUS)
- SP Funds S&P Global REIT Shariah ETFÂ (SPRE)
- SP Funds Dow Jones Global Sukuk ETFÂ (SPSK)
- Wahed Dow Jones Islamic World ETFÂ (UMMA)
There’s also a local brokerage firm that allows you to identify a shariah compliant stock, CGS-CIMB. You may find more details on our article here:Â https://
