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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
Table of Content


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

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.

1. eToro : best for professional traders overall

  • Only professional traders can use eToro in Belgium.
  • eToro is well-authorized to provide its service in Belgium via the FSMA regulator.
  • The eToro website is available in French, German, and Dutch for Belgians.
  • Within Belgium, eToro requires a $50 minimum deposit.
  • eToro has only one base currency available in Belgium, which is the USD base currency.
  • eToro features 145 ETFsmore than 2,000 shares, and over 100 crypto assets, as well as forexindices, and commodities as CFDs.
  • eToro Belgian clients will find spreads from 1 pip on 45+ forex pairs.
  • Belgian traders have access to maximum leverage up to 400:1 for professional traders on major forex.
  • The eToro proprietary platform is available for Belgian clients: this platform is top-notch when it comes for social and copy trading, both areas in which eToro excels.
77% of retail investor accounts lose money

2. AvaTrade : best for fixed spread trading

  • 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.
79% of retail investor accounts lose money

3. FBS : best MetaTrader service

  • 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 1 pip on 30+ 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.
74-89% of retail CFD accounts lose money

4. Admirals : wide range of account types

  • Only professional traders can use Admirals in Belgium.
  • Admirals are comprehensively authorized to provide their service in Belgium via the FSMA regulation.
  • The Admirals website is available in French, German and Dutch for Belgian.
  • The minimum deposit requested by Admirals in Belgium is $100.
  • The Admirals base currencies available in Belgium include both EUR and USD.
  • 3,900+ assets, both CFD and real, can be traded in Belgium with Admirals. The assets consist of forex, commodities, stocks, ETFs, bonds, indices, and crypto.
  • Admirals Belgian clients find spreads from 0 pips on 40+ forex pairs.
  • The leverage accepted by Admirals in Belgium is up to 500:1 for professional traders on major forex.
  • Belgian clients can trade using the MT4 and MT5 platforms offered by Admirals.
76% of retail investor accounts lose money

5. FXTM : best service quality

  • 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.
81% of retail investor accounts lose money

6. Trading 212 : best trading flexibility

  • 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.
83% of retail investor accounts lose money

7. City Index : solid and trustworthy broker for pro traders

  • 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.
75% of retail CFD accounts lose money

8. Oanda : best for high-volume traders

  • 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.
CFDs are not available to residents in the United States

9. Interactive Brokers : best number of assets type

  • 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.
74-89% of retail CFD accounts lose money

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 trader, choose Forex/Stock Brokers

As a non-professional trader in Belgium, you may find your trading opportunities limited to the likes of stocks. In this case, both eToro and Trading 212 are some of the best available in terms of what they 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.

filippo ucchino

About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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