Wahed Account Type

Wahed offers different types of investment accounts tailored to meet various financial needs and preferences. The main account types include:

• Individual Investment Account: This is a flexible brokerage account that allows investors to buy and sell a wide range of assets, including stocks, bonds, ETFs, and mutual funds. There are no contribution limits, and investors can withdraw their funds at any time without penalties. However, earnings are subject to capital gains taxes.

• Individual Retirement Accounts (IRAs): Wahed provides both Traditional and Roth IRAs, which offer tax advantages for retirement savings.

• Traditional IRA: Contributions may be tax-deductible, and taxes are paid upon withdrawal during retirement.
• Roth IRA: Contributions are made with after-tax dollars, allowing for tax-free withdrawals during retirement.
• 401(k) Plans: Wahed offers employer-sponsored retirement plans, allowing employees to contribute a portion of their salary to a tax-advantaged investment account. Contributions can be pre-tax (Traditional 401(k)) or after-tax (Roth 401(k)), and many plans include employer matching contributions.

Wahed Broker Account Opening Process

Opening a Wahed account is a straightforward process that can be completed in a few simple steps:

• Download the Wahed App: Available on both the App Store and Google Play.

• Get Started: Launch the app and tap on "Get Started" to sign up for a new account.

• Email & Password: Enter your email address and create a password. Verify your email with the code sent by Wahed.

• Account Type Selection: Choose the type of account you wish to open (Individual Investment Account, IRA, or 401(k)).

• Portfolio Questionnaire: Complete a questionnaire regarding your investment knowledge and risk tolerance. This will help Wahed recommend an optimal portfolio for you.

• Personal Information: Enter personal details such as your name, date of birth, address, and phone number.

• Read Terms & Conditions: Review the fees associated with your account and agree to the terms and conditions.

• Identity Verification: Provide required identification documents for verification.

• Account Approval: Wait for 1-3 days for your account to be approved. You may be prompted to make a deposit, but this can be done after approval.

• Start Investing: Once your account is approved and funded, you can start investing in your chosen portfolio.

For more detailed information on the account types and the opening process, you can visit the Wahed website.