Verified
Set up in 10 minutes
Downloaded the app, set up an account in like 10 minutes, started investing with $100. This is how halal investing should work for our generation.
Zaid L.NY
19 found helpful
Wahed Invest Wahed Invest Robo-Advisor
Halal Investing in New Mexico
Best for: Hands-off investors who want automation
Craft an investment portfolio designed to align with your values and help you achieve your goals
Wahed Invest offers Wealth Management, a investment platform designed for Shariah-compliant investors. Best suited for: All-in-one halal investing app.
Pros
- Available nationwide in all 50 states
- Uses Shariah-Compliant Robo-Advisor — a recognized Shariah-compliant structure
- High HalalWallet rating of 4.5/5
Robo-AdvisorNationwideEst. 2015
Updated February 2026
Start Investing
Visit Wahed Invest's website to learn more and get started.
See pricing & termsOpens Wahed Invest's site — no obligation
Product Details
Type
Investment Platform
Account Types
Individual, IRA, Roth IRA
Screening Method
AAOIFI standards
Wahed Invest in New Mexico
Wahed Invest's Wahed Invest Robo-Advisor is available to investors in New Mexico, structured as a Robo-Advisor. It holds a HalalWallet rating of 4.5/5. New Mexico is home to an estimated ~12K Muslims (0.6% of the population) (World Population Review, 2020 estimates). Wahed Invest operates nationwide, so New Mexico residents have full access to this product.
Our Take on Wahed Invest
Wahed is a strong option for Muslim investors who want managed, hands-off halal portfolios. The HLAL ETF is also available as a standalone option through any brokerage. Check current advisory fees and minimums directly with Wahed, as these may change.
How Wahed Invest Works
1
Create Account & Set Risk Profile
Sign up and answer questions about your investment goals and risk tolerance.
2
Fund Your Account
Deposit money via bank transfer. Check current minimums on Wahed's website.
3
Automated Portfolio Management
Wahed invests across halal assets and automatically rebalances when allocations drift.
4
Monitor & Withdraw
Track performance in the app. Withdraw anytime — verify any restrictions with Wahed.
Financing Structure
Wahed operates as an SEC-registered investment advisor using a robo-advisory model. Your money is held at a custodian bank (not by Wahed), and Wahed manages investment decisions. The HLAL ETF follows FTSE Russell's Shariah screening methodology.
In-Depth Analysis
Wahed Invest launched in 2015 with the goal of making halal investing as easy as conventional robo-advisors. The platform builds portfolios from Shariah-compliant assets based on your risk tolerance and automatically rebalances.
Wahed's HLAL ETF (expense ratio: 0.50% per our data) tracks U.S. large-cap stocks screened for Shariah compliance. HLAL trades on NYSE Arca and can be purchased through any standard brokerage — you don't need a Wahed account.
For retirement savings, Wahed offers halal IRA and Roth IRA accounts. Verify current advisory fees, minimums, and account types directly with Wahed, as these details may change.
Shariah Compliance Details
- Wahed's Shariah Advisory Board includes named scholars who review investment holdings for compliance.
- The HLAL ETF uses FTSE Russell's Shariah screening methodology, applying quantitative screens for business activity and financial ratios.
How Wahed Invest Compares
Wahed competes with self-directed halal platforms and individual ETFs. The right choice depends on how hands-on you want to be.
Zoya is for self-directed investors who want to pick their own halal stocks. Wahed manages your portfolio for you. Choose Zoya for control; Wahed for convenience.
Amana offers halal mutual funds with the longest track record in the U.S. (since 1986). Available at Fidelity, Schwab, and Vanguard.
SPUS has a lower expense ratio (0.45%) than HLAL (0.50%). Compare index methodology and performance.
Bottom Line
Wahed is a strong option for investors who want managed halal portfolios with retirement account support. If you prefer picking your own ETFs, buying SPUS or HLAL directly through a discount brokerage will save on advisory fees. Check current pricing and terms directly with Wahed.
Read full Wahed Invest reviewShariah Compliance & Oversight
Shariah Board
Operates as a global Islamic investment platform whose activities are reviewed and audited by an external Sharia supervisory authority.
Details
Certified by Shariyah Review Bureau (SRB) (2024). Signed by Dr. Aznan Hasan (SRB).
Last Verified
2026-02
State Availability
Wahed Invest serves all 50 states + DC
✓ Available nationwide including New Mexico
Start Investing — Wahed Invest
Visit Wahed Invest's website to get current terms, check eligibility for New Mexico, and get started today.
See pricing & termsOpens Wahed Invest's site — you're not committing to anything
Compare With Other Options in New Mexico
20 other investing products available to New Mexico residents
Index-based · 49 states
User Reviews for Wahed Invest
5 verified reviews
4.45 reviews
5★
2
4★
3
3★
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2★
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1★
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Verified
Good app, want more account types
Good app, easy to use. Returns have been okay — nothing crazy but I'm in it for the long term. Wish they had more account types like a 529 or something.
Farah N.TX
12 found helpfulSet my risk level and let it work
The robo-advisor approach works well if you don't want to pick individual stocks. Set my risk level and let it do its thing. Rebalancing happens automatically.
Idris J.CA
6 found helpfulHalal Investment Growth Estimate
See how your halal investments could grow over time
$10,000
$500/mo
8% annual
Total Value
$343,778
Contributed
$130,000
Growth
$213,778
Hypothetical projection. Past performance does not guarantee future results.
Compare FundsFrequently Asked Questions
What is Wahed Invest Wahed Invest Robo-Advisor?
Craft an investment portfolio designed to align with your values and help you achieve your goals
What Shariah oversight does Wahed Invest Wahed Invest Robo-Advisor have?
Certified by Shariyah Review Bureau (SRB) (2024).
Signed by Dr. Aznan Hasan (SRB).
Is Wahed Invest Wahed Invest Robo-Advisor available in New Mexico?
Yes. Wahed Invest Wahed Invest Robo-Advisor is available nationwide, including New Mexico. You can apply directly through the provider's website.
What Shariah oversight does Wahed Invest have?
Wahed Invest's Shariah compliance is overseen by: Operates as a global Islamic investment platform whose activities are reviewed and audited by an external Sharia supervisory authority.. Certified by Shariyah Review Bureau (SRB) (2024).
Signed by Dr. Aznan Hasan (SRB)..
What financing structure does Wahed Invest Wahed Invest Robo-Advisor use?
Wahed Invest Wahed Invest Robo-Advisor uses a Robo-Advisor structure. This is a Shariah-compliant financing arrangement that avoids interest (riba).
How do I apply for Wahed Invest Wahed Invest Robo-Advisor in New Mexico?
You can apply for Wahed Invest Wahed Invest Robo-Advisor directly through the provider's website. Visit their official site to start your application, check current requirements, and get personalized information for New Mexico residents.
Halal Finance Score
Are your investments Shariah-screened? Check all 7 categories.
Average score: 63/100
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Reviewed by: HalalWallet Editorial Team•Last reviewed: 2026-04-01•Disclosure: Featured partners may compensate HalalWallet for clicks. Editorial policy and full disclosures.
Reviewed quarterly and updated for major content changes.
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.