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Wikitoro author Wikitoro Team Written by Wikitoro Team
Wikitoro fact checker Nick Zelver Fact checked by Nick Zelver
Updated Feb, 2024

eToro is Sharia-compliant because this online brokerage offers an Islamic account that strictly adheres to Islamic finance principles, such as not charging or giving interest, and ensuring that all transactions are transparent.

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76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

Introduction to Sharia-compliance in Finance

Navigating the financial world as a devout Muslim can be challenging. I've always sought platforms that align with my faith, ensuring my investments are both profitable and morally sound. This led me to explore eToro's claim of offering a Sharia-compliant trading environment.

When I first came across eToro, I was intrigued. The platform's promise of an Islamic account tailored to the principles of Islamic finance caught my attention. I decided to dive in, eager to see if their offering matched their claims.

 

Navigating the World of Riba with eToro

Interest, or Riba, has always been a concern for me. I've been wary of inadvertently engaging in non-compliant activities. With eToro's Islamic account, I found solace. Their commitment to avoiding interest on overnight positions was evident in every trade I made.

 

Understanding eToro's Fee Structure

I was initially skeptical about how this broker would compensate for the absence of interest. But the transparent eToro fees structure for the Islamic account quickly put my concerns to rest. It was clear they had crafted this with Sharia principles in mind, ensuring fairness in every transaction.

 

The Verification Process: Proof of Religion

When I opted for the Islamic account, eToro's request for proof of religion surprised me. But it also reassured me. Their dedication to ensuring genuine need showcased their commitment to true Sharia-compliance.

 

Investment Options: A Breath of Fresh Air

Exploring investment options was a revelation. eToro's diligence in offering Halal investments while avoiding Haram ones was evident. Every trade I made, I did so with peace of mind, confident in its alignment with my faith.

 

My Verdict on eToro's Sharia-compliance

My journey with eToro's Islamic account has been enlightening. Their genuine commitment to providing a Sharia-compliant platform is evident in every facet. For anyone seeking a trading platform that respects and understands the intricacies of Islamic finance, I wholeheartedly recommend eToro. It's been a game-changer for me, and I believe it will be for you too.

 

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

Wikitoro author Wikitoro Team About Wikitoro Team

The Wikitoro Team is a dynamic group of five seasoned eToro traders who have been actively using the platform since 2018. As pioneers in establishing the Wikitoro wiki site, we are dedicated to ensuring the accuracy and reliability of the information we provide. Our team regularly verifies data and content from our authors and contributors, taking turns to meticulously review each piece. Our commitment is to offer our readers factual and precise information, reflecting our extensive experience and deep understanding of the eToro platform.

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76% of retail investor accounts lose money