Is TOP halal?
TOP Financial Group Limited
Doubtful
No clear verdict is possible for TOP Financial Group Limited — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 15 October 2026
Exchange
NASDAQ
Price
13.42
Day
+0.98%
Market cap
$1.66B
Industry
Capital Markets
Sector
Financial Services
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: broker — margin financing, structured notes, derivatives (TOP Financial)
What the company does
TOP Financial Group (Singapore/Hong Kong) is an online broker: equities, futures and options trading, margin financing, structured notes, FX and OTC derivatives (30 employees). Its money comes from brokerage commissions and margin interest (checked by the screener).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: broker — margin financing, structured notes, derivatives (TOP Financial)
Interest-bearing debt / market cap
limit 30%
0.1%
Pass
Cash & investments / market cap
limit 30%
1.0%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.