New investor. Is what I’m doing halal or haram? Need your help please

📈 Investing & Markets
#1

Resolved

Edit: I’ve decided to contact eToro Support for ease of mind and this is what they said:

We would like to confirm that purchasing non-leveraged stocks means that you would be buying the underlying asset and not a CFD and therefore, no fees (Riba) would be charged on such investments.

So everything is okay :slight_smile:

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I recently opened an account with eToro. I’ve already funded it with $1000 and have invested in a few stocks that are of course shariah compliant based on Zoya and I also do my own research. Now what got me nervous is that I just found out that eToro offers Islamic accounts. That got me wondering, does their normal account include anything haram?

When I checked it seems the Islamic account is an option for Muslims who are interested in forex trading which I’m not. Like I said I’m only interested in investing in stocks. I was also thinking of investing in commodities but it seems that would be through CFD trade only? I’m guessing that is haram?

Here are the links on the Islamic account. Would appreciate if someone can check and let me know if I understood this correctly.

https://www.etoro.com/customer-service/islamic-account/

https://go.etoro.com/en/islamic-account?referral_org_eicri=

Please let me know if what I’m doing is okay and that I can proceed.

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#2

Salam Just my thoughts if the stocks are shariah-compliant then you’re good, Dont Do forex at all it’s haram so good you’re staying away. IDK any CFD trade only things

#3

Thanks for keeping us in the loop with the update @sum1

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