Following the launch of its robo-advisory services in 2020, UAE investment manager Wealthface has launched a premium trading account for millennials and professional traders in the MENA region and in the US. One of its perks: Halal trading facilitation.
Licensed by the US Securities and Exchange Commission and Abu Dhabi Global Market’s Financial Services Regulatory Authority, Wealthface aims to make institutional trading solutions more accessible to retail traders through its digital products. The introduction of Halal investment through its premium account is seen as a measure to be more inclusive of Shariah-sensitive or ethical investors who have been growing in affluence.
Through the upgraded account, investors will have access to over 2,000 Shariah compliant stocks and exchange-traded funds. The premium account also features zero commissions trading and artificial intelligence analysis for global stocks. As at the 17th March 2022, there are nine robo-advisors offering Halal investment options, according to the IFN Islamic Fintech Landscape.