What is Forum Markets, Incorporated's Shariah compliance score?

Forum Markets, Incorporated (FRMM) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Forum Markets, Incorporated pass AAOIFI screening?

Forum Markets, Incorporated (FRMM) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. FRMM's debt-to-market-cap is 48.8%.

How much purification is needed for Forum Markets, Incorporated?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Forum Markets, Incorporated (FRMM) using the latest financial data.

Where can I screen Forum Markets, Incorporated for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Forum Markets, Incorporated (FRMM) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

FRMMNot HalalF

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Compliance Status

Not Halal

Screened on Oct 9, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Forum Markets, Incorporated (FRMM) halal? Not Halal. Based on AAOIFI screening, Forum Markets, Incorporated passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Forum Markets, Incorporated (FRMM) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 9, 2026. Source: https://halalscreener.app/en/stock/FRMM

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

48.8% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding FRMM

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

FRMM: Is Forum Markets, Incorporated Halal?

Forum Markets, Incorporated

NASDAQTechnologyUS

$4.48

Market Cap: 59.2M

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About Forum Markets, Incorporated

Operating within the decentralized finance (DeFi) sector, ETHZilla Corp. is a technology firm. Its core mission is to facilitate global connectivity among financial institutions, enterprises, and various organizations by providing secure and readily accessible blockchain transactions, leveraging implementations of the Ethereum Network protocol. Furthermore, the company sustains its efforts in the biotechnology and gaming industries, overseeing their deployment and ongoing advancement. Founded on September 7, 2016, by Marc Feldmann, Lawrence J. Steinman, and Jonathan B. Rothbard, ETHZilla Corp. is headquartered in Palm Beach, Florida.

Sector: Technology · Industry: Software - Application

Why this does not pass

Interest-bearing debt is 48.8% of market cap, over the 30% AAOIFI limit.
Interest-bearing deposits are over the 30% limit.
Income from prohibited sources is over the 5% limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 9, 2026

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Institutional-grade Shariah analysis

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See why FRMM is rated Not Halal with institutional-grade analysis

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Not Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: EDGAR

Halal Alternatives in Technology

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Forum Markets, Incorporated (FRMM) halal to invest in?

Forum Markets, Incorporated (FRMM) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Forum Markets, Incorporated get a F compliance rating?

Forum Markets, Incorporated (FRMM) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 48.8% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Forum Markets, Incorporated's Shariah verdict?

Forum Markets, Incorporated's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Forum Markets, Incorporated re-screened for Shariah compliance?

Forum Markets, Incorporated (FRMM) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 9, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.