Wahed Invest Review | The Pros And Cons

If you're like me, probably you are tempted to invest in Wahed too. So, to help you decide, I will tell you all the pros and cons or the advantages and disadvantages in using their app for investment.

Use this referral code when you register so you can get a $25 bonus

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ADVANTAGES

1. Low minimum investment - Start with as little as $100. 

When I was young, my dad told me that you need hundreds of thousands to join the stock market, now, you can join by investing $100. 

And the good thing with this is, you can invest at your own pace. It's not required to invest regularly. It's all entirely up to you.
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2. You can start immediately - Open your account in minutes

In the traditional way, you have to go to their office and fill up a lot of forms, fulfill all the requirements. Then wait several days for their approval.

But because of technology nowadays, it's all in our fingertips. Click the app, they'll ask you several questions and in less than 5 minutes, they'll recommend which type of portfolio is good for you.

​Mine was Moderately Aggressive. But after seeing the return of just 5%, i changed it by clicking the arrow to the right and choose "very aggressive" I want 8% return.

After confirming that I want a very aggressive portfolio, I started creating my account.  Very fast and easy. No more hassle.

3. You can invest globally

This is one of the best thing I found in Wahed. Before, you can only invest in your country, worse, just within your community if you don't have big money.

Now, you can invest globally. You can profit when other countries gain, not just when your own country prosper.

Also, you can protect your wealth by diversifying across numerous companies and geographies. Thus, your risk is significantly lower.

4. Ethical Investing

This is the first time, I heard of ethical investing. You can be sure that your investment is aligned with your values. 
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5. Lowered Risk

Because your money is in the good hands of people with years of experience in trading, the risk of losing all your money is very low compared when you do the trading all by yourself.
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6. Very Low Annual Fees
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They will only take 1% per year of your profit. So, if your money earned 8% in a year, they will only take 1% of that 8%, to put that in numbers, it's like this

If in one year your invested money is $10,000 and you gain a total of $800 , Wahed will only take $8.

If after several years, you accumulated $250,000 the fees will be half and become 0.49%.
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7. You can schedule the deposit

This is so important because you can automate your investment. If you're a type of person who can't stop spending money. This is really great for you because before you finished all your money, part of it is invested automatically.
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8. They have a referral program.

You and your referral will receive $25 sign up bonus after depositing the first $100. The bonus will come after 14 days.

Use this referral code if you don't have any

camari1

DISADVANTAGES

1. If you are shy, this scene could be funny because while confirming your identity, they'll ask to access your camera and microphone, then they'll ask you to look at the camera and move your head. They will also listen to your voice by asking to read the 3 numbers shown in the screen.

This might take less than 2 minutes, but to me, I did it really fast, maybe under 30 seconds.
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2. If you don't have documents to verify your address, you need to ask any of your colleagues to verify your address. They'll receive an email from Wahed and they have to fill that form. It's too short, it would only need less than a minute of their time verifying your address, but of course, you lose some privacy.

3. Your investment should come from your own card or else it would be returned. The withdrawal is the same. It should be under your name.
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4. They accept wire transfer, but it takes 2 - 5 days. 
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5. Right now, they don't accept Paypal as a form of payment. 
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6. If you're the first among your friends or relatives to use Wahed, unless you found a referral code somewhere, you will miss the $25 bonus when you first invested your $100.

Don't miss your sign up bonus, use this code

camari1

​I missed the $25 bonus too, because I don't know anybody who are using Wahed, or maybe they don't want to share they're using Wahed because they don't want to teach other people how to earn and become rich.
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​If you don't have a referral, use my code so you can receive the bonus.
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CONCLUSION

I often heard the saying "don't put all your eggs in one basket" in other words, in investment, diversification is essential. 

Investing is zero-sum, if someone loses, somebody gains. 

If you diversify your investment, you're lowering the risk.

And also, invest only the amount that you don't need in the short term. If you need that money within 6 months, don't invest it. Just keep it in your bank account.