facebookAnyone has review and experience using Wahed Invest, Halal Robo Advisor? - Seedly

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Anonymous

09 Jan 2021

Robo-Advisors

Anyone has review and experience using Wahed Invest, Halal Robo Advisor?

I don’t see any Singaporean sharing their reviews or experience with Wahed Invest. Do share with us!

Discussion (8)

What are your thoughts?

Im sure you have read up on some of the views expressed online wth regards to Wahed.

Here is another Singaporean opinion that i have found before setting up my account. http://www.smartmamat.com/i-made-an-investment-...

Personally, i found the platform easy to use especially for those just starting to invest. However, i think the main drawback for me was the telegraphic transfers fees which are quite alot. I use either Revolut or Instarem to get a better fx when makin my transfer. Think this is the best option to have a better rate overall as compared to using the local banks.

Btw, u can use my referral khahaf8 if you are still interested in using this platform for both of us to gain USD 25 with min topup of USD 100.​​​

So far this is my experience. The mobile app is easy to use and to navigate around. However transferring of funds is quite a hassle. They used to accept transfer of funds via debit/credit card but they had removed that option. I had to fund my wahed account via telegraphic transfer. Due to this I wouldn't recommend doing a small monthly deposit as the transfer fees are expensive. So in my opinion do a lump sum deposit instead.

Another alternative is using transferwise where the fees may be cheaper but I haven't try it out yet. As there isn't much options for muslims here in sg to invest ethically, I feel wahed is a good option as they allocate funds into shariah compliant etfs and islamic bonds. So its quite diverse and you'll have a peace of mind knowing that your funds are invested ethically in the halal way.

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That's because they don't operate in Singapore, seems like HQ is in Malaysia. Transferring funds int...

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