Forex (Foreign Exchange) brokerage firms are authorized to offer their trading services in Belgium only to professional Belgian traders.
Belgium, a Western European country, uses the Euro (EUR) as its official currency.
As for retail forex trading activity, the regulatory oversight in Belgium falls under the jurisdiction of the Financial Services and Markets Authority (FSMA). The FSMA is responsible for ensuring that financial markets in Belgium operate fairly and transparently.
We have collected in one place some of the best forex brokers in Belgium. We have taken into consideration several factors in order to give you the best top ten possible.
- Regulation of the broker
- Minimum Deposit
- Base Currencies
- Assets offered
- Spreads charged
- Leverage accepted
- Platforms provided
What are the best forex brokers in Belgium?
Below is our curated list of the best forex brokers for traders living in Belgium, with details and information about the country laws, the features, and the characteristics.
AvaTrade
best for fixed spread trading
AvaTrade operaties professionally in Belgium. AvaTrade accepts French, German, and Dutch languages. AvaTrade offers over 1250 assets with fixed spreads from 0.9 pips. The leverage for AvaTrade reaches up to 400:1.
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Regulations:
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Platforms:
About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- Only professional traders can use AvaTrade in Belgium.
- Avatrade is well-authorized by FSMA within Belgium.
- AvaTrade accepts French, German, and Dutch as languages for Belgian traders.
- Belgian clients can start with an AvaTrade minimum deposit of $100.
- AvaTrade Belgian traders find EUR, USD, and GBP as account base currencies.
- The AvaTrade assets provided are 1250+ in Belgium, and they include forex, options, commodities, crypto, stocks, indices, ETFs and bonds.
- In Belgium, AvaTrade charge fixed spreads from 0.9 pips on 60+ forex pairs.
- The maximum AvaTrade leverage in Belgium is up 400:1 on major forex.
- AvaTrade in Belgium offers the following platforms: MT4, MT5, AvaOptions, WebTrader and AvaGO.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
FBS
best MetaTrader service
FBS serves professional traders in Belgium with FSMA authorization. FBS offers assets starting from 0.7 pips spreads and leverage up to 500:1. FBS supports German and French languages.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- Only professional traders can use FBS in Belgium.
- FBS is available to be used by Belgian clients thanks to the FSMA authorization in place.
- German and French languages are available on the FBS’s website for traders of Belgium.
- There is a minimum deposit starting from $10 for Belgian traders who want to open a FBS account.
- In Belgium, FBS accepts both EUR and USD as base currencies.
- Belgian traders have access to 180+ assets, including forex, shares, commodities, indices, crypto.
- FBS spreads in Belgium start from 0.7 pip on 70+ forex pairs.
- FBS accepts leverage up to 500:1 for Belgian professional traders on major forex.
- Belgian clients can use the following FBS platforms: MT4, MT5 and FBS Trader.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
FXTM
best service quality
FXTM accepts Belgian professionals, offers trading with spreads from 0 pips. FXTM enables base currencies EUR, USD, and GBP. Leverage with FXTM goes up to 200:1.
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Platforms:
About FXTM
FXTM, also known as ForexTime, is a global forex and CFD broker founded in 2011. FXTM offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. FXTM is regulated by multiple authorities including CySEC, FCA, and FSC Mauritius. FXTM is known for low spreads, fast execution, and extensive educational resources. FXTM serves over 2 million clients worldwide. The FXTM CEO is Nicholas Defteras.
FXTM Features
The features of FXTM are listed below.
- Only professional traders can use FXTM in Belgium.
- FXTM are a top broker which accepts Belgian traders and are authorized by FSMA to operate in Belgium.
- There is a $10 FXTM minimum deposit for Belgian clients.
- FXTM accepts EUR, USD, and GBP as their account base currencies in Belgium.
- Belgian traders can trade among 250+ assets which consist of: forex, commodities, stocks, indices and crypto.
- FXTM spreads start from 0 pips on 60+ forex pairs in Belgium.
- The FXTM professional leverage available for Belgian clients is up to 200:1 on major forex.
- Belgian traders can trade with the FXTM Trader, MT4 and MT5 platforms provided by FXTM.
FXTM Pros and Cons
Advantages of FXTM
The advantages of FXTM are listed below.
- User-Friendly Platform
- Fast Customer Support
- Low Minimum Deposit
Disadvantages of FXTM
The disadvantages of FXTM are listed below.
- Withdrawal Fees
- Limited Product Range
- Inactivity Fees
Trading 212
best trading flexibility
Trading 212 operates under FSMA in Belgium. Trading 212 provides assets from 0.8 pips spreads and leverage up to 500:1. Trading 212 supports French and German.
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Regulations:
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About Trading 212
Trading 212 is a global online broker founded in 2004, offering commission-free trading on stocks, ETFs, forex, and CFDs. Trading 212 provides proprietary web and mobile platforms. Trading 212 is regulated by multiple authorities including FCA, CySEC, and FSC. Trading 212 is known for its user-friendly interface, educational resources, and fractional share investing. Trading 212 serves over 2 million clients worldwide. The Trading 212 CEO is Mukid Chowdhury since 2024.
Trading 212 Features
The features of Trading 212 are listed below.
- Only professional traders can use Trading 212 in Belgium.
- Trading 212 is authorized to operate in the Belgium via FSMA.
- German and French languages can be both chosen on the Trading 212’s website by Belgian traders.
- Belgian clients need to deposit at least $10 to open a CFD account.
- EUR and GBP are the base currencies accepted by Trading 212 in Belgium.
- Trading 212 in Belgium provide 3500+ assets, both as forex, indices, commodities and stocks as CFD and real stock trading.
- The spreads charged by Trading 212 in Belgium start from 0.8 pips on 210+ forex pairs.
- Trading 212 allow Belgian clients a leverage up to 500:1 (professional) on major forex.
- Belgian traders can benefit from the Trading 212 proprietary platform.
Trading 212 Pros and Cons
Advantages of Trading 212
The advantages of Trading 212 are listed below.
- User-Friendly Interface
- No Commission Trading
- Wide Range of Assets
Disadvantages of Trading 212
The disadvantages of Trading 212 are listed below.
- Limited Research Tools
- High Forex Spreads
- Lack of Advanced Features
City Index
solid and trustworthy broker for pro traders
City Index authorizes professional trading in Belgium. City Index charges spreads from 0.3 pips. City Index offers leverage up to 400:1.
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Regulations:
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Platforms:
About City Index
City Index is a global forex and CFD broker founded in 1983, offering trading on currencies, indices, commodities, cryptocurrencies, and stocks. City Index provides proprietary platforms alongside MetaTrader 4. City Index is regulated by multiple top-tier authorities including FCA, ASIC, and MAS. City Index is known for competitive spreads, extensive research tools, and educational resources. City Index is part of the NASDAQ-listed StoneX Group. The City Index’s parent company “StoneX Group Inc.” CEO is Sean O’Connor.
City Index Features
The features of City Index are listed below.
- Only professional traders can use City Index in Belgium.
- City Index are available in Belgium and are authorized by FSMA to operate within Belgium.
- Belgium traders are asked to start with at least a $100 City Index minimum deposit.
- USD, EUR and GBP base currencies are all available for City Index Belgian traders.
- 12000+ CFD assets, including forex, indices, stocks, options, interest rates, bonds and commodities, are made available in Belgium by City Index.
- In Belgium, City Index charge spreads from 0. 3 pips on 84+ forex pairs.
- The maximum leverage for professional clients is up to 400:1 on major pairs.
- City Index provides both a proprietary webtrader platform and the MT4 platform for Belgian clients.
City Index Pros and Cons
Advantages of City Index
The advantages of City Index are listed below.
- Regulatory Trust
- Advanced Trading Tools
- Diverse Market Access
Disadvantages of City Index
The disadvantages of City Index are listed below.
- Limited MetaTrader Options
- Educational Content Gaps
- Customer Support Issues
Oanda
best for high-volume traders
Oanda allows professional trading in Belgium without a minimum deposit. Oanda’s spreads start from 0.8 pips. Oanda’s maximum leverage is 200:1.v
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About Oanda
OANDA is a global multi-asset broker founded in 1996, offering trading on forex, CFDs, commodities, indices, and cryptocurrencies. OANDA provides proprietary platforms and API solutions. OANDA is regulated by multiple authorities including FCA, ASIC, and MAS. OANDA is known for competitive spreads, fast execution, and currency data services. OANDA serves both retail and institutional clients worldwide. The Oanda Chief Executive Officer is Gavin Bambury since August 2019.
Oanda Features
The features of Oanda are listed below.
- Only professional traders can use Oanda in Belgium.
- Oanda accepts Belgian clients and have trusted authorization from FSMA to operate in Belgium.
- Oanda’s website provides French and German language for traders of Belgium.
- No Oanda minimum deposit is needed for Belgian clients.
- The base currencies provided by Oanda in Belgium are USD, EUR, CHF and GBP.
- 100+ Oanda CFD assets can be traded by Belgian clients and these are forex, crypto, bonds, indices, and commodities.
- Belgian clients are charged spreads from 0.8 pips on 70+ forex pairs.
- In Belgium, the professional leverage is up to 200:1 on major forex while trading with Oanda.
- Belgian traders have access to the MT4, MT5 and Oanda Trade platform.
Oanda Pros and Cons
Advantages of Oanda
The advantages of Oanda are listed below.
- Comprehensive Platforms
- Robust Education
- Highly Regulatory Trust
Disadvantages of Oanda
The disadvantages of Oanda are listed below.
- Higher Spreads
- Proprietary Platform Limitations
- Inactivity Fees
Interactive Brokers
best number of assets type
Interactive Brokers operates in Belgium with FSMA authorization. Interactive Brokers accepts USD and EUR. Interactive Brokers allows spreads from 0.2 pips and leverage up to 30:1.
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Platforms:
About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- Only professional traders can use Interactive Brokers in Belgium.
- Interactive Brokers is available in Belgium and are well-authorized by FSMA.
- French and German are both available as languages on the Interactive Brokers’ website for Belgians.
- No Interactive Brokers minimum deposit is required for Belgian clients.
- Both USD and EUR are accepted as base currencies from Interactive Brokers in Belgium.
- Interactive Brokers provides a good number of assets for Belgian traders including CFD Shares, Indices, Metals, Forex as well as Spot Forex, ETFs, Options, Bonds, Mutual Funds and Futures are available.
- Belgians find that spreads charged by Interactive Brokers start from 0.2 pips on 100+ forex pairs.
- The Interactive Brokers leverage is up to 30:1 for Belgian professional clients on major forex.
- In Belgium, Interactive Brokers provides the Client Portal (webtrader), Trader WorkStation (desktop) and IBKR mobile platforms.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
Is Forex Trading legal in Belgium?
Forex trading is legal in Belgium only for professional traders.
Being a member of the EU you would expect this to be a simple process, and it may well be that if you are a non-Belgium citizen. However, for Belgians, while forex trading is legal, you do have to be a professional trader to engage in the forex market as retail forex trading is banned.
The market in Belgium itself is regulated by the FSMA (Financial Services and Markets Authority). Under that regulation, some forex brokers can still offer trading in the likes of shares and non-leveraged products and be in line with the law. Also, as a European based in Belgium but with the passport of another nation, you will likely have no problem in trading forex.
How to trade forex in Belgium
Trading forex in Belgium first of all you will be asked for proof of two things. Namely that you have some proof of ID, this would ideally be your passport. Second, you have proof of residence.
Beyond this, if you are a Belgian forex trader and based in Belgium, there will be a few more things needed. Here you will have to show proof that you are a professional trader by providing 2 of the following 3 pieces of evidence:
- Proof of at least 1 year of experience within the finance field.
- A Financial portfolio of at least €500,000 (excluding properties such as houses, cars, etc)
- Proof of having opened and closed at least 40 large leveraged positions in the last year (at least 10 per quarter)
Once you have provided this evidence, your forex broker verification will be completed and you will be free to start trading.
What should Belgian traders look for in a forex broker?
As a Belgian forex trader, now that you have seen some of the top forex brokers, lets cover a few points on things to look out for when trading forex in Belgium and how to make the best broker choice possible.
You should first keep note that in Belgium, there are a few elements of trading forex that are banned. This includes spread betting, binary options, leveraged products, and spot forex trading if you are not a professional trader. Also, forex brokers in Belgium can offer loyalty and active trader programs to help reduce your costs, but they cannot offer any kind of direct welcome or deposit bonus.
With these things in mind, here are three important tips for making sure you choose the best broker to fit your needs:
1. Choose ESMA/FSMA brokers
Regulation is key. This applies whether you are a professional forex trader or not. The good point here though that can help you avoid unregulated offshore brokers, is that forex brokers are actually only allowed to offer services within the EU if they are well-regulated and ESMA compliant.
2. If you’re not a professional FX trader in Belgium, choose Stock Brokers
As a non-professional trader in Belgium, you may find your trading opportunities limited to the likes of stocks. In this case, Trading 212 is the best available in terms of what it can still offer you to trade with and at great prices.
3. Choose brokers that offer low commissions
Keeping the commissions and fees as low as you can is always something important to consider. This applies even more so in Belgium since you will likely be investing more in long-term assets such as shares.
With these kinds of assets, your profits may not be as fast to generate. Ultimately this means it may be even more important for you to minimize costs, commissions, and fees when trading forex in Belgium.
How to verify if a forex broker is regulated in Belgium
Every broker you come across in Belgium should be ESMA compliant first off. This is something that you can check out at the ESMA website. With that said, you will need to know the EU body that regulates that particular broker. In Belgium, this is likely to be the FSMA or CySEC (Cyprus).
You can also check the regulation here by going to the official FSMA website, and typing the business name of the broker on the search bar. This business name of your forex broker can typically be found in the small print information at the bottom of your broker homepage.
Is forex trading taxable in Belgium?
Forex trading is taxable in Belgium. With that said, since the authorities there tend not to actively promote forex trading, there is little information to advise on what the process and capital gains tax may be. Given that, and the fact that forex and leveraged trading is only available in Belgium to professional traders, we would recommend contacting the local tax authorities for more information on this issue since we are not professional tax advisors.