A halal stock screener exists because a TSX ticker is not halal just because you bought it inside a TFSA. You still have to know whether the business and its debt pass a screen. Akinda is a research tool that checks US, UK, and Canadian stocks against AAOIFI Shariah Standard No. 21 and shows the ratios behind the verdict.
The screener itself is free. Paid plans are $7, $9, or $20 a month. Akinda does not hold your money, place your trades, or run a portfolio for you. You keep your brokerage and use Akinda as the research layer. See the provider page and the investing hub.
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Who It Is For
Use Akinda if you already pick stocks at a Canadian brokerage and you want to see the math, not only a pass or fail badge. Skip it if you want someone else to invest the money. A managed halal portfolio is a different product.
- You buy individual stocks in Canada, the US, or the UK
- You want AAOIFI ratios you can check yourself
- You are fine keeping trades at your own broker
- You do not need Akinda to custody the account
What the Screen Actually Checks
| Test | Akinda's published limit |
|---|---|
| Business activity | AAOIFI Shariah Standard No. 21 |
| Interest-bearing debt | Under 30 percent of trailing 12-quarter average market cap |
| Interest-bearing investments | Under 30 percent of that same market-cap average |
| Non-permissible income | Under 5 percent of revenue |
| Where the numbers come from | Filings, not estimates |
| Free plan | Full stock screener |
| Paid plans | $7, $9, or $20 a month |
Holdings are re-screened after earnings season. If a stock still has a small amount of non-permissible income, Akinda calculates a purification amount. There are no trading commissions and no management fee, because Akinda is not managing the account. A separate business API is priced on its own site.
How It Sits Next to Other Screeners
Zoya is the faster pass-or-fail app, and it links to Wealthsimple and Questrade. Musaffa grades stocks and tracks purification on Canadian brokerages. Akinda's distinction is the visible ratio math on US, UK, and Canadian names. Read the Zoya app review and the Musaffa app review before you pay for two tools that do the same job.
If you do not want to pick stocks, a screened ETF is the simpler core holding. Akinda will not build that portfolio for you.
How to Use It Without Overpaying
Start on the free screener. Look up the stocks you already hold and one you are about to buy. If the ratios are enough, you may never need a paid plan. The $7, $9, and $20 tiers are for people who live in the tool, not for a one-time check before a TFSA contribution.
A stock can pass the business screen and still fail the debt test. Interest-bearing debt and interest-bearing investments each have to stay under 30 percent of the trailing 12-quarter average market cap. Non-permissible income has to stay under 5 percent of revenue. Akinda shows those figures from filings, including Canadian reports, so you can see which test failed instead of arguing with a red badge.
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After earnings season, check again. A company that passed in March can fail in August. If a small amount of non-permissible income remains, use the purification figure Akinda calculates rather than guessing a dollar amount. Then place the trade at your own broker. Akinda will not do that step.
Frequently Asked Questions
Is Akinda a halal brokerage?
No. Akinda screens stocks. It does not hold client funds, execute trades, or manage portfolios.
Does Akinda cover Canadian stocks?
Yes. It screens US, UK, and Canada listed stocks, using figures from regulatory filings.
How much does Akinda cost?
The stock screener is free. Paid plans are $7, $9, and $20 a month. There is no trading commission and no assets-under-management fee.
What standard does Akinda use?
AAOIFI Shariah Standard No. 21, including the 30 percent debt test, the 30 percent interest-bearing investment test, and the 5 percent non-permissible income test.
Can I use it with my TFSA?
Compare providers in your province
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Yes, as research. You still place the trade in whatever brokerage holds the TFSA. Akinda does not replace that account.
