Investing alternatives
Boston Trading Co Alternatives
6 halal investing providers in the U.S. that compete with Boston Trading Co, ranked by HalalWallet Index grade, disclosed Shariah oversight, and state coverage. Independent: we are not affiliated with Boston Trading Co or any provider listed here.
Co-Founder & CEO, HalalWallet
Re-ranked automatically when Index grades, oversight, or coverage change in our database.
The closest alternatives to Boston Trading Co for halal investing in the U.S. are Wahed Invest, SPFunds and Manzil. Wahed manages halal portfolios under a formal Shariah supervisory board with low minimums and SEC registration. It offers no crypto fund. RAFAH offers managed crypto with a written screen but no scholar, board or certifier behind it. The highest HalalWallet Index grade among the alternatives belongs to Manzil (A). Where Boston Trading Co still wins: Written halal screen in the RAFAH prospectus: riba, gharar and haram-industry exclusions, with a profit/loss-sharing focus.
- 6 of 13 investing providers we track in the U.S. are ranked here; the rest fell below on Index grade, Shariah oversight, or reviews.
- Index grades among the alternatives: Wahed Invest B, SPFunds A-, Manzil A, Allied Asset Advisors B+, Azzad Asset Management B, ShariaPortfolio B (Boston Trading Co is not yet graded).
- Boston Trading Co is available nationwide across the U.S., so coverage is not a reason to switch.
- Product types across the alternatives: Index-based, Wealth Management, Shariah-Screened Mutual Fund (Boston Trading Co: Managed digital-asset fund (pooled, accredited-only)).
- Most common reason to look elsewhere: No named Shariah scholar, supervisory board, fatwa or third-party certificate for RAFAH; the halal label is self-declared.
Source: HalalWallet (halalwallet.us)
Top 6 Boston Trading Co alternatives for 2026
- Grade B
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Index-based
- Track record
- Since: 2015 | Google: 4.5/5
vs Boston Trading Co: Wahed manages halal portfolios under a formal Shariah supervisory board with low minimums and SEC registration. It offers no crypto fund. RAFAH offers managed crypto with a written screen but no scholar, board or certifier behind it.
- Grade A-
#2
SPFunds
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Index-based
- Track record
- Since: 2019
vs Boston Trading Co: SP Funds' ETFs are independently certified, trade on any brokerage and cost a fraction of RAFAH's fees. They hold no crypto. RAFAH is the only way to get managed crypto exposure with a published halal screen, if you qualify as accredited.
- Grade A
#3
Manzil
- Shariah oversight
- Shariah oversight: Formal Shariah board
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Wealth Management
- Track record
- Since: 2017
vs Boston Trading Co: Manzil's halal wealth management carries formal Shariah oversight and is open to retail investors. RAFAH is accredited-only and crypto-only, with a self-declared screen.
- Grade B+
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Shariah-Screened Mutual Fund
- Track record
- Since: 2000
Our take: The Iman Fund is a legitimate, durable pillar of US halal investing: 25 years, one manager, community waqf ownership, and easy access through mainstream brokerages.
- Grade B
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Wealth Management
- Track record
- Since: 2000
Our take: If you need halal fixed income, WISEX alone justifies Azzad's place in your portfolio - nothing else in a US mutual fund does what it does, and the firm's audited, three-layer Shariah governance is the best-verified in the market.
- Grade B
- Shariah oversight
- Shariah oversight: Named scholar
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Wealth Management
- Track record
- Since: 2013
Our take: If you invest halal in America, you will probably own something ShariaPortfolio built - SPUS and SPSK are the default building blocks of the halal three-fund portfolio, and the firm behind them offers a legitimate full-service path from $1...
Boston Trading Co vs the alternatives at a glance
| Provider | Index grade | Shariah oversight | Coverage | Structure | Since |
|---|---|---|---|---|---|
| Boston Trading Co(this review) | Not graded | n/a | All 50 states | Managed digital-asset fund (pooled, accredited-only) | 2016 |
| Wahed Invest | B | Third-party certified | All 50 states | Index-based | 2015 |
| SPFunds | A- | Third-party certified | All 50 states | Index-based | 2019 |
| Manzil | A | Formal Shariah board | All 50 states | Wealth Management | 2017 |
| Allied Asset Advisors | B+ | Third-party certified | All 50 states | Shariah-Screened Mutual Fund | 2000 |
| Azzad Asset Management | B | Third-party certified | All 50 states | Wealth Management | 2000 |
| ShariaPortfolio | B | Named scholar | All 50 states | Wealth Management | 2013 |
Index grades are HalalWallet's independent scorecard. Oversight and coverage are what each provider publishes, last verified 2026-10-27. Not graded means the category or provider is outside the Index, not a negative mark.
Why people look for a Boston Trading Co alternative
- No named Shariah scholar, supervisory board, fatwa or third-party certificate for RAFAH; the halal label is self-declared
- Several sample RAFAH holdings are DeFi or proof-of-stake tokens whose yields raise their own Shariah questions, and crypto itself is contested among scholars
- Accredited / sophisticated investors only, with a US$10,000 minimum
- 2% MER plus a performance fee above benchmark is expensive next to certified halal ETFs
- Provider's own US terms state the offerings have not been reviewed or approved by the SEC or CFTC and that approval is 'in process'
- Five of the six funds (Bostoncoin, DART, POLLY, OYSHER, ASHIRVAD) make no Shariah claim at all
- No live holdings page found for RAFAH, unlike Bostoncoin and DART
When Boston Trading Co is still the right choice
- Written halal screen in the RAFAH prospectus: riba, gharar and haram-industry exclusions, with a profit/loss-sharing focus
- Decade-long operating history across multiple crypto cycles, with live holdings published hourly for the Bostoncoin and DART funds
- Fiat-in, done-for-you model removes wallets, exchanges and self-custody from the investor's plate
- Monthly unit-price reporting for all six funds and a stated no-lock-in policy
- Accepts retirement and entity structures: 401(k), Roth IRA, trusts, companies, family offices
Our verdict on Boston Trading Co: RAFAH is the most transparent attempt we have seen to run a halal crypto fund, and the manager's decade-long record is real. But with no scholar, board or certifier behind the screen, an accredited-only gate, a US$10,000 minimum and a 2%-plus-performance fee, it is a product for sophisticated investors who have already decided crypto is permissible for them, not a starting point for halal investing.
Still deciding?
The ranking above is category-wide. For a state-by-state, structure-by-structure view of every provider, use the comparison tool.
Compare halal ETFs with live performance dataHow this ranking works
The pool is every provider with active investing listings in the U.S. in HalalWallet's database (13 besides Boston Trading Co). Providers our editors have written a direct comparison for appear first; the rest are ordered by live HalalWallet Index grade, then disclosed Shariah oversight (formal board or third-party certification ranks above a named scholar, which ranks above no public review), then Google rating. Nothing here is paid placement. See our methodology and how Index grades are computed.
Frequently asked questions
What is the best alternative to Boston Trading Co?
Wahed Invest ranks first among Boston Trading Co alternatives for halal investing with a HalalWallet Index grade of B, third-party certified Shariah oversight, and coverage of all 50 states. Wahed manages halal portfolios under a formal Shariah supervisory board with low minimums and SEC registration. It offers no crypto fund. RAFAH offers managed crypto with a written screen but no scholar, board or certifier behind it. SPFunds and Manzil follow. The right pick depends on your state, the contract structure you are comfortable with, and total cost, so get quotes from at least two.
Which Boston Trading Co alternative is available in my state?
Boston Trading Co itself is available nationwide across the U.S.. Wahed Invest, SPFunds, Manzil and Allied Asset Advisors also operate nationwide across the U.S..
How do Boston Trading Co's alternatives differ in approach?
Boston Trading Co is listed as managed digital-asset fund (pooled, accredited-only). Other approaches among the alternatives: index-based, wealth management, shariah-screened mutual fund. The practical differences are who does the Shariah screening (you, an app, or a manager), what it costs at your balance, and how purification of impermissible income is reported. Match the approach to how hands-on you want to be.
Which alternative has the strongest Shariah oversight?
Wahed Invest (third-party certified), SPFunds (third-party certified), Manzil (formal shariah board), Allied Asset Advisors (third-party certified), Azzad Asset Management (third-party certified) disclose either a formal Shariah board or third-party certification. HalalWallet reports what each provider publishes; we do not certify products.
Should I switch from Boston Trading Co?
Reasons readers look elsewhere: No named Shariah scholar, supervisory board, fatwa or third-party certificate for RAFAH; the halal label is self-declared; Several sample RAFAH holdings are DeFi or proof-of-stake tokens whose yields raise their own Shariah questions, and crypto itself is contested among scholars. Reasons to stay: Written halal screen in the RAFAH prospectus: riba, gharar and haram-industry exclusions, with a profit/loss-sharing focus; Decade-long operating history across multiple crypto cycles, with live holdings published hourly for the Bostoncoin and DART funds. Switching mid-contract can trigger payoff terms and new closing costs, so compare the total cost of finishing with Boston Trading Co against a new contract elsewhere, and check the early-payoff clause first.
How to use this comparison: Scholars rule; we organize the evidence. HalalWallet is an independent educational comparison platform - by design, we do not issue fatwas or provide financial, legal, or tax advice. We do the research homework so your final checks are quick and personal. Where our role ends and who takes over.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-01