Frequently Asked Questions


What is Wahed Invest?

Wahed Invest (“Wahed”) is a registered investment advisor that aims to provide an efficient and ethical 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.

Why wouldn't I buy the securities suggested by Wahed Directly?

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.

What is the minimum investment required to become a client of Wahed Invest?

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

What are the basic requirements to be eligible for opening an account with Wahed Invest?

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

Does Wahed offer accounts for minors?

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

Is my personal information safe with Wahed Invest?

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.

How do I get more information regarding the privacy policy and security features?

For any query or clarification regarding our services, you can reach us at We would be more than happy to assist you.

How it works

What does Wahed do?

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.

How do I open an account with Wahed?

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.

How will my portfolio be optimized?

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.

Why do you invest in ETFs?

Our main objective is to provide a low-cost investment advisory 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.

What is the frequency of rebalancing?

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.

What are the charges levied for your services?

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

It is a percentage of your account size and ranges from 0.49% to 0.79% 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.

How will I be updated on my portfolio's performance?

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.

What if I want to surrender my account?

You may close your account by sending us an email at

Shariah-Compliant Investing

What is Shari'a-compliant investing?

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.

What is the methodology for choosing Shariah-compliant investments?

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.

Who certifies Shari'ah compliance?

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.

Investments and Portfolios

Will I receive dividends?

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.

Is my money insured?

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

Where can I find more information about the securities chosen by Wahed?

You can read all about our Investment Methodology, the securities where  your funds will be invested and Portfolio’s past performance on our Portfolio Page.

For more information, please email us at

Can my investment lose value?

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.

What returns can I expect?

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.

Where can I see the portfolio that my money is invested into?

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.

Will my Wahed portfolio beat the market?

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.

Wahed App and Accounts

Is there a minimum balance?

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

How can I upload a document?

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.

Can I integrate my Wahed account with


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

1. Go to 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]"

Does Wahed offer Individual Retirement Accounts (IRAs)?

Yes, we currently offer the following account types:

  • Individual account
  • Traditional IRA
  • Roth 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.

Can I have a personal consultation?

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.

How are gains or losses calculated?

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.

I just changed jobs. Should I update my employment information?

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.

I just moved. Should I update my address?

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.

Does Wahed Invest offer any tax planning?

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

Can I hold my account at another brokerage firm and still have Wahed Invest trade it?

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.

Where can I see my transactions?

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

Where can I see my money?

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.

Where is my money held?

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.

Can I open multiple accounts?

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.

How do I change my portfolio?

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.

How do I manage notifications?

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

How can I generate my statement of account?

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.

Understanding your percentage of return

  • Understanding your percentage of return

    Although there are multiple ways to calculate returns for any investment, in order to account for time and deposits, most investors ultimately simply want to see how much money they currently have versus how much they started with.

    The approach that we use to calculate such return percentages is the Time Weighted Return (TWR) approach. You should think of TWR as the return your portfolio generated assuming all your deposits were made on the first day your account was opened. This calculation method eliminates the effects of your deposits and withdrawals, and instead looks at the portfolio performance itself, with each day weighted equally regardless of whether the account has $100 or $1,000,000.

    This is not the same as dividing the total gains or losses by the initial portfolio value, which is the simple percentage return. Check out the bottom of this article to see why the simple percentage approach may be misleading, particularly when taking deposits and withdrawals into consideration

    Now that you understand what this number is, it’s important to note how your deposits and withdrawals affect the relationship between your total earnings and your TWR.

  • How your earnings may be positive but your TWR could be negative

    Because you might have deposits and withdrawals on different dates, showing you a simple percentage return might not be sufficient. The example below will explain:

    Let’s say Sarah made a $2,000 deposit, and her portfolio dropped by 50% so she’s left with $1,000. Then, Sarah makes a $30,000 deposit so her portfolio balance goes to $31,000. Soon after, the market rallies and her portfolio grows by 10% to become $34,100 ($31,000 + $3,100).

    Overall, Sarah has $2,100 in gains for her portfolio (she lost -$1,000 then made +$3,100).

    However, if you consider the actual percentage returns for each period, the portfolio was down 50%, then gained 10%. Using simple compounding according to the TWR method, her portfolio has a TWR of (((1-50%) x (1+10%))-1) = -45%. Note that because of the timing of her deposits, she has positive gains but negative TWR. 

  • Negative earnings but positive TWR

    The same dichotomy can be seen if the scenario was reversed.

    First, Sarah’s $2,000 deposit grew by 50% to $3,000, then she deposited $30,000. Her new balance is now $33,000 ($2,000 + $1,000 + $30,000)

    Her portfolio then lost -10% ($3,300) so she now has $29,700.

    Overall, she lost -$2,300 (made $1,000 then lost $3,300).

    However, her portfolio actually performed well from a daily return perspective, growing by 50%, and then dropping by 10%.

    This is why we use the TWR method; it captures the real performance of your portfolio, weighting each period equally regardless of market value, eliminating the effects of deposits and withdrawals.

  • Why we don’t use the simple percentage return, and how it can be misleading

    The simple percentage return is calculated by dividing your earnings by your net deposits.

    So for example, if your net deposits are $5,000 and you earned $1,000 your percentage earnings will be:

    $1,000 / $5,000 = 20%

    Now let’s say you decide to go on a trip, so you withdraw $3,000, and your balance becomes $2,000.

    The simple percentage return would now be:

    $1,000 / $2,000 = 50%

    You can see why this number can be quite misleading, because technically this hypothetical portfolio did not ‘grow’ by 50%.

Password Requirements

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 !,@,#,$,%,^,&,*

Retirement Accounts

Information provided by Wahed Invest is for educational purposes only and is not investment or tax advice. For additional information please refer to the IRS’ website (; for help with any questions, please consult a tax professional. For more information on IRAs, please read the IRS’ website. Consult a professional tax advisor to answer questions about your eligibility for tax deductions.

Introduction to IRAs

What is an IRA?

An Individual Retirement Account (IRA) is a type of savings account that is designed to help you save for retirement and offers many tax advantages. There are two different types of IRAs: Traditional and Roth IRAs. For more information on Traditional IRAs, please read the IRS’ website. Consult a professional tax advisor to answer questions about your eligibility for tax deductions.

What is a Roth IRA?

For Roth IRAs, if you satisfy the requirements**, qualified distributions are tax-free. You cannot deduct contributions to a Roth IRA. Non-working spouses may also contribute up to $5,500 ($6,500 if age 50 or older) to a Roth IRA. You may continue to make contributions to your Roth IRA after you reach  70½ years of age. There are no required minimum distributions on Roth IRAs. Your Roth IRA contribution might be limited based on your filing status and income, please read the requirements on the IRS’ website.

For more details about Roth IRAs, please check the IRS’ website. Consult a professional tax advisor to answer questions about your eligibility for tax deductions.

What is the difference between a Traditional and a Roth IRA?

The primary difference between a Traditional IRA and a Roth IRA is the type of tax benefit each offers. With a Roth IRA, you get no deduction for contributions, but if you follow all the rules, your investment earnings will be distributed tax- and penalty-free in retirement. Traditional IRAs can provide a deduction for contributions and you may defer taxes on investment earnings until funds are withdrawn, typically in retirement.

Are there any fees for opening an IRA with Wahed Invest?

No, there are no account opening fees. Please refer to our Wrap fee brochure for more details.

Once I open my IRA with Wahed Invest, how should I invest the funds within my account?

Wahed makes halal investing simple. Once you have completed the questionnaire, we'll provide you with an optimal strategy based on the answers you submitted. After you fund your account we'll invest your money for you according to your recommended portfolio.

What is my Modified Adjusted Gross Income (MAGI)?

Your Modified Adjusted Gross Income (MAGI) is an income tax term. It is your adjusted gross income (AGI) with certain deductions and exclusions added back. It's used to determine whether or not you’re allowed certain tax benefits like being able to deduct your Traditional IRA contribution or qualify to make a Roth IRA contribution. Need more information? Review IRS information on IRAs, IRS Publication 590-A, or contact your tax advisor. Or for a step-by-step guide to calculating your MAGI, you can refer to the IRS’ Website.

Rollovers and Transfers

What is a rollover?

A rollover is the process of moving your retirement savings from your retirement plan at work (401(k), profit-sharing plan, etc.) into an Individual Retirement Account (IRA) with Wahed Invest. Rolling over to an IRA allows you to keep your savings tax-deferred.

How do I rollover an IRA?

At Wahed, we have simplified your experience to rollover your retirement account in a few clicks. Visit to complete a simple questionnaire and open an account.

After you open your account, you'll be able to sync your retirement plans at other providers and transfer them to Wahed's halal portfolios online.

Can I roll my plan at work over to a Roth IRA?

If your plan at work is a Roth 401(k) or Roth 403(b), then you can roll your Roth money directly into a Roth IRA with Wahed.

If you don’t have a Roth plan, you have the option to convert your funds to a Roth IRA. Just remember, you’ll have to include any converted amounts as income on your taxes. Learn more about converting to a Roth IRA on the IRS’ website.

Can I combine my rollover and annual contributions into one IRA?

Yes, you can combine rollovers and contributions in the same IRA. However, Traditional IRA dollars and Roth IRA dollars must be kept in separate accounts.

Can I consolidate all my Traditional IRA accounts at Wahed?

Yes, this is possible in the new app for a new user. However for existing clients who have Traditional IRA accounts with multiple emails, this is not possible.

Can I convert from a Traditional to a Roth IRA (or vice versa) at Wahed?

No. As of now, we request you to convert it at your current institution before you initiate the transfer.

What assets can I transfer to Wahed?

The only form of asset transfer that is acceptable is cash only.

Do I need to report a rollover on my tax return?

Yes. You will receive two tax forms — an IRS Form 1099R, reporting that you took a distribution from your former employer's plan, and an IRS Form 5498, reporting that you made a rollover contribution to your IRA with Wahed Invest. Even if no portion of your rollover is taxable, you must report it on your tax return.

Will I owe taxes on my rollover?

Typically, you will not owe taxes on your rollover if you roll over your money directly from your company plan into an IRA with Wahed Invest. This means that your company plan makes the check payable to your IRA's custodian, and that check is deposited to your IRA. Consult your financial advisor before implementing any changes as your situation may vary.

Contributing to an IRA

What is the minimum required to open an IRA with Wahed Invest?

The minimum required to open an IRA is only $100.

Can I contribute to both a Traditional and a Roth IRA in the same year?

Yes, you may make contributions to both a Traditional IRA and a Roth IRA in the same year, provided the combined total contribution does not exceed your contribution limit, or 100% of earned income, whichever is less, for the year, including any catch-up contributions. For example, in 2022, the total amount you can contribute to both a Traditional IRA and a Roth IRA combined cannot exceed $6,000 ($7,000 if age 50 or older). For more up to date information about your contribution limits and more, please visit the IRS’ Website.

Can I contribute to an IRA if I'm already contributing to a retirement plan at work?

Yes, you can open and fund a Traditional or a Roth IRA even if you already contribute to an employer-sponsored retirement plan; this will help you save more than you could in your employer-sponsored plan alone. You may want to discuss this option with your tax advisor, however, please be aware that participation in an employer sponsored plan may impact deductibility in a Traditional IRA. You can visit IRS’ Website to check the taxable impact of your deductions or refer to your tax advisor.

What is the annual contribution limit for an IRA?

If you are under age 50 you can contribute up to $6,000 in 2021 and 2022, and if you're age 50 or older, in a particular tax year, you can contribute an additional $1,000 catch-up contribution for a total of up to $7,000.

Can I take a loan from my IRA?

No, loans are not permitted from IRAs.

What are the taxes and penalties for an early distribution from my IRA?

Taxable distributions from Traditional and Roth IRAs before age 59½ may be subject to an IRS 10% penalty tax. The exceptions to the 10% penalty before age 59½ are: death, disability, eligible medical expenses, certain unemployed individuals' health insurance premiums, qualified first home buyer (lifetime maximum of $10,000), qualified higher education expenses, substantially equal periodic payments (SEPP), Roth conversions, qualified reservist distribution or IRS levy. For more up to date information about your tax and penalties for an early distribution and more, please visit the IRS’ Website or contact your tax advisor.

What are catch-up contributions?

Once you reach age 50, in a particular tax year, contribution limits on IRAs and employer-sponsored retirement accounts increase, allowing you to "catch up" on your savings by contributing an amount over the annual contribution limit. In 2021 and 2022, you can contribute an additional $1,000 catch-up contribution to your IRA, making your maximum contribution amount up to $7,000.

Other Questions

How to add a beneficiary?

Please note that you can only add a beneficiary to a retirement account. This can be done from the account details section in the app.

What is a SEP IRA?

A Simplified Employee Pension (SEP) IRA provides business owners with a simplified method to contribute toward their employees’ retirement as well as their own retirement savings. Contributions are made to an Individual Retirement Account (IRA) set up for each plan participant (a SEP-IRA). A SEP-IRA account is a Traditional IRA and follows the same investment, distribution, and rollover rules as Traditional IRAs. Employers and employees can make both SEP IRA and Traditional IRA contributions to the same account.

What is an inherited IRA?

An inherited IRA allows beneficiaries a way to keep the funds growing tax-advantaged in an IRA while taking distributions. The account titling will always refer to the deceased IRA owner, with you listed as the beneficiary. Since you aren’t the owner, you may not make contributions and cannot execute a 60-day rollover to this account. The benefit of this arrangement is that you only need to take annual required minimum distributions (RMDs) based on your life expectancy and are taxed on that amount; this is often referred to as the stretch IRA strategy.

What is a Roth conversion?

A Roth conversion involves a transfer of assets from your Traditional IRA or employer-sponsored retirement plan, such as a 401(k), 403(b) or Government 457, into a Roth IRA. Converting before-tax money to a Roth IRA triggers a taxable event; you will not owe tax on any after-tax amount converted.  Subsequent investment earnings can be tax- and penalty-free if you maintain the account for at least five years and take withdrawals after age 59 1/2, or for disability, death or using the qualified first time home buyer exception. Learn more about converting to a Roth IRA on the IRS’ website.

What are some possible benefits of consolidating IRAs with Wahed Invest?

Consolidating your IRAs with Wahed Invest offers many potential benefits, including one monthly statement, required minimum distribution (RMD) simplification, potentially fewer fees, and ease in managing your investment strategy. To to learn more about how to transfer or consolidate IRA assets, email us at or call us at 1-855-529-4747

Can I take the money out of my retirement plan at work and then decide what to do?

You can, but it's a good idea to consider the impacts of each option before making a decision to take money out of the plan.

When you take money out of the plan in a check payable directly to you, 20% of the original balance will be withheld for federal income taxes before you get the check, so you won't have the full amount to roll over. Learn the potential consequences of withdrawing cash from your 401(k) with a previous employer versus rolling over to an IRA.

You can still deposit the money into an IRA or your new company sponsored plan, but you must do this within 60 days.

If you don't deposit the withheld amount to the new IRA or company sponsored plan, it will be added to your ordinary income (which may be taxable) and may also be subject to IRS penalties

The 20% that is withheld for taxes is considered normal income tax withholding, as is the case with your paychecks. If you overpay taxes for the year, you may get some of it back in a refund when you file your tax return.

What if I need to use some of the money from my 401(k)?

When rolling over a 401(k), you may be able to take a portion of your money out of your plan at work and leave the rest in, but not all plans allow this.

If you are required to take all of your money out of the plan, you can roll over to an IRA with Wahed Invest, then take the portion that you need out of the IRA. Depending on what you need the money for, you may qualify for a waiver of the penalty tax if you take the money from an IRA rather than directly from your plan at work.

If you have access to other money, you may want to avoid taking money out of the plan. Even a small withdrawal can have a drastic effect on the growth of your retirement savings.

What happens if I have a loan from my retirement plan at work?

Check with your company to find out if the plan will allow you to continue making payments after you leave the company, or whether you are required to repay the balance of your loan before you can roll over the remainder to Wahed Invest.

If you decide to take your money out of the plan and don't repay the loan before doing so, the amount of the unpaid loan is added to your income for the year (which may be taxable) and may also be subject to IRS penalties, depending on your age.

When can I take money out of my retirement plan at work?

You may be able to take money out of your retirement plan at work while you still work for the company. But typically, you are only able to take money out when you reach the normal retirement age of 59 1/2, leave the company, or become disabled, or if your employer terminates the plan. Check with your company to find out when you can take money out of your plan.

What is a mandatory distribution?

For traditional IRAs, you are legally required to begin taking distributions in the year you reach age 70½. The dollar amount of the distribution is based on the value of the IRA account and age of the account holder. IRS Publication 590 provides details on how to calculate the minimum distribution. Required minimum distributions must start prior to April 1 of the year following the year in which you reach age 70½. Failure to take the required minimum distribution results in an IRS penalty tax of 50% of the amount that should have been distributed.


Are there fees for deposits or withdrawals?

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.

Can I close my account at any time?

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

Is there a fee for a $0 balance?

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

Will market changes take me down a fee tier?

You will never be put in a more expensive fee tier due to market changes. You can, however, get placed into a less expensive fee tier due to upward market changes.

Where are the fees taken from?

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

When does Wahed Invest charge fees?

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.

Deposits and Withdrawals

How do I set up my recurring deposit?

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

How can I add funds to my account?

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

How long does it take to fund my account?

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.

In which currency can I deposit funds?

We only accept funds in US Dollars.

What happens if I invest less than the minimum amount?

If you invest less than the minimum amount of $100, the account status will be “Active (Insufficient Funds).”

There will be no trades or securities allocated until you fund at least $100 into your Wahed account.

What happens if my account value falls below $100?

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

However if the Portfolio Value falls below $100 due to withdrawals from the account, the account status will be changed to Insufficient Funds and you will need to fund your account.

Can I withdraw funds to a third party?

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

Is there a hold period for withdrawals?

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.

Is there any charge for withdrawals?

No, Wahed does not charge you for withdrawals.

Which method is available for withdrawals?

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

How long does it take to withdraw my funds?

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.

How can I withdraw funds?

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).

Do I get charged for deposits ?

No, Wahed does not charge you for deposits.

Can I fund my account through a position transfer?

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

Can I transfer funds from an account under a different name?

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.

Can I fund my account using Credit Card/Debit Card /PayPal account?

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.

However, we are looking to have this option available in the near future.

Can I fund my account with physical stock certificates?

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

There is a mistake with my account. What should I do?

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

Community Forum