Magnetoelectric coupling (MEC) allows to change the magnetic state by an electric field. In bulk metallic systems any electric field is screened and MEC is not expected. However, the screening charge leads to displacements of the atomic cores in the surface which in turn may modify the magnetic order. We found MEC in Fe nanoislands using the electric field of a scanning tunneling microscope. MEC is a fundamental effect that may lead to the development of metallic high-density storage devices.