Pick Manzil if you want managed AAOIFI-reviewed accounts and you do not want to screen every ticker. Manzil wealth management, personal, and TFSA products are nationwide in Canada, and TFSA, RRSP, and FHSA are available in every province and territory. Pick DIY if you will screen tickers yourself at Wealthsimple Trade or Interactive Brokers Canada. DIY still needs a screen. Start on the Manzil provider page and the investing hub.
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Pick If
| If you want | Choose | Why |
|---|---|---|
| Managed AAOIFI accounts, including TFSA, RRSP, and FHSA in every province and territory | Manzil | The platform screens and manages. You are not picking tickers |
| Lowest listed fund fee on a US halal equity ETF you will buy yourself | DIY, including MNZL at 0.40% | MNZL is a ticker with a 0.40% expense ratio. That is not Manzil Canada's managed-account MER |
| Full control of every holding in Trade or IBKR | DIY | You run the screen. The broker will not stop a haram buy |
| A mortgage and investing under one Canadian brand | Manzil for investing, then confirm the mortgage province separately | Investing accounts are nationwide. Manzil home financing is not this page |
What Manzil Is
Manzil is a Canadian Islamic finance platform. On the investing side it offers managed, AAOIFI-reviewed accounts. TFSA, RRSP, and FHSA are available in every province and territory. Wealth management, personal, and TFSA products exist nationwide. We will not invent a Manzil management fee. The one fee we will cite is MNZL, a Manzil Funds US equity ETF, at a 0.40% expense ratio. That 0.40% is a DIY ticker cost, not the price of a Manzil managed account in Canada. Confirm live Manzil account fees on their site.
What DIY Is
DIY means a self-directed account at a Canadian broker. Wealthsimple Trade is not the Wealthsimple Halal Portfolio. Interactive Brokers Canada will not screen for you. You pick the tickers. You handle idle cash so it does not sit in interest. You purify what needs purifying. If you buy US listings, you may screen those US tickers with Zoya or Musaffa. Those are US screening tools. Do not treat them as a Canadian-account product.
Fees We Will and Will Not Cite
| Cost | What we can say |
|---|---|
| MNZL expense ratio | 0.40%. Confirm on the live factsheet before you buy |
| Manzil Canada managed-account MER | Not cited here. Confirm on Manzil |
| Wealthsimple Trade commissions | Confirm on Wealthsimple's current Trade fee schedule |
| IBKR Canada commissions | Confirm on IBKR Canada's current stock commission page |
Frequently Asked Questions
Is Manzil investing available in every province?
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Yes. Manzil TFSA, RRSP, and FHSA are available in every province and territory. Wealth management, personal, and TFSA products are nationwide in Canada.
Can I just buy MNZL in a Canadian TFSA and skip Manzil?
That is the DIY path. MNZL's 0.40% expense ratio is the fund fee, not advice, and not a Canadian managed account. You still need a broker that can hold the ticker, and you still need a screen for everything else in the account.
Do Zoya and Musaffa work for Canadian accounts?
You may screen US tickers with those tools. They are US screening products. Do not assume a Canadian-account version. Your Canadian broker is still Trade, IBKR Canada, or another issuer you chose.
Is Wealthsimple Trade the same as Manzil?
No. Trade is DIY. Manzil is managed AAOIFI accounts. Wealthsimple also has a separate Halal Portfolio, which is another managed product, not Trade and not Manzil.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Choose Manzil when you want the screen done for you in a nationwide registered account. Choose DIY when you will pick tickers at Trade or IBKR Canada. Confirm live fees either way, except the MNZL 0.40% figure already cited.
