To switch to an Islamic Account on eToro, you need to deposit at least $1,000 into your eToro account and then contact eToro’s support team and request the switch. But keep in mind: once your account is converted, some features and assets available to regular trading accounts may no longer be accessible. So, double-check before making the move.
Switching to an Islamic account on eToro is a simple process. It's designed for traders who want to follow Sharia-compliant financial practices.
First things first—you need to sign up for a standard eToro account. You’ll need to enter a username, password, and email address to get started. Once registered, complete your profile by providing personal details and uploading the necessary documents. This includes proof of identity and proof of address to verify your account.
Once that is settled, here’s how to make the transition:
Deposit at least $1,000 into your eToro account. This is the minimum threshold to qualify for an Islamic account conversion.
Reach out to eToro’s support team and request an account switch to an Islamic account. They’ll walk you through any additional steps and notify you once the transition is complete.
Follow these steps, and you’ll be trading on eToro with an Islamic account in no time—while staying aligned with your financial beliefs.
Based on my experience, I could say that eToro’s Islamic accounts comply with Sharia law. That means no interest-based fees are applied. But it's important for you to be aware that there are other fees.
For example, in forex trading, if you hold a position open beyond seven days, a daily administrative fee kicks in. The fee amount depends on the currency pair and trade size. This setup allows you to maintain positions without earning or paying interest. That means you're still in full compliance with Islamic finance principles.
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