Best Forex Brokers in Belgium for 2024

Last updated Oct 8, 2024

We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 Forex brokers in Belgium based on our analysis:

  1. 1
    FxPro EU Logo
    FxPro EU - Best Forex broker in Belgium - A wide selection of trading accounts. Various trading platforms. A diverse range of available markets and products.
  2. 2
    Ultima Markets Logo
    Ultima Markets - Low trading commissions. Coverage of all major trading asset markets. Extensive analytical materials and tools.
  3. 3
    Deriv EU Logo
    Deriv EU - Simple and fast account opening process. Low commission structure. Convenient methods for account funding and withdrawal without commission.
  4. 4
    FXOpen Logo
    FXOpen - Wide range of trading assets. Low spreads and commissions. Support for various trading platforms.
  5. 5
    IFC Markets Logo
    IFC Markets - A wide range of trading assets. Variety of trading platforms. Educational materials for traders of all experience levels.
  6. 6
    FBS EU Logo
    FBS EU - Low spreads and trading fees. Extensive database of educational materials and analytical tools. Wide range of trading assets.
  7. 7
    XM Logo
    XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account.
  8. 8
    InstaForex Logo
    InstaForex - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support.
  9. 9
    Libertex Logo
    Libertex - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics.
  10. 10
    Oanda EU Logo
    Oanda EU - Tight spreads. Efficient and secure processes for account funding and withdrawals. Extensive market and product offerings.

This thorough guide aims to assist you in selecting a broker that aligns seamlessly with your trading strategy while safeguarding your investments. The brokers featured here are renowned for their distinctive features, cutting-edge technology, and robust security measures, offering an exceptional trading experience in Belgium's dynamic Forex market.

List of the Best Forex Brokers in Belgium in 2024

1
Register73% of retail investors lose money when trading CFDs with this broker
Foundation Year2006
Minimum Deposit
€100
2
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2016
Minimum Deposit
$20
3
Register67.28% of retail investors lose money when trading CFDs with this broker
Foundation Year2020
Minimum Deposit
€1
4
Register58-60% of retail investors lose money when trading CFDs with this broker
Foundation Year2004
Minimum Deposit
€10
5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2005
Minimum Deposit
€1
6
Register69.21% of retail investors lose money when trading CFDs with this broker
Foundation Year2007
Minimum Deposit
€10
7
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2009
Minimum Deposit
€5
8
Register71.99% of retail investors lose money when trading CFDs with this broker
Foundation Year2007
Minimum Deposit
€1
9
Register74.91% of retail investors lose money when trading CFDs with this broker
Foundation Year1996
Minimum Deposit
$100
10
Register71% of retail investors lose money when trading CFDs with this broker
Foundation Year2001
Minimum Deposit
€1

1. FxPro

FxPro EU Logo
1
Register73% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Regulators:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersSoft CommoditiesCryptocurrencyStocks
Trading Platforms
MetaTrader 4FxPro EdgeMetaTrader 5cTrader
compare FxPro EU trading accounts

FxPro EU provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. The company offers extensive educational materials and analytical tools to aid in decision-making.

This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.

Pros and Cons of FxPro EU

Pros

  1. A wide selection of trading accounts.
  2. Various trading platforms.
  3. A diverse range of available markets and products.
  4. Multiple analytics tools.
  5. Extensive educational materials.

Cons

  1. An inactivity fee.
  2. Absence of cent accounts and services for copying trades.

2. Ultima Markets

Ultima Markets Logo
2
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersStocksETFBondsCryptocurrencySoft Commodities
Trading Platforms
MetaTrader 4WebTrader
compare Ultima Markets trading accounts

Ultima Markets is a broker offering a wide range of trading instruments and platforms, making it attractive to various categories of traders. With low trading commissions, user-friendly platforms, and extensive analytical materials, the broker is suitable for experienced traders and those who use automated strategies. However, due to the lack of educational materials, Ultima Markets is less suitable for beginner traders, but it is an excellent choice for anyone who does not require training.

Pros and Cons of Ultima Markets

Pros

  1. Low trading commissions.
  2. Coverage of all major trading asset markets.
  3. Extensive analytical materials and tools.
  4. Efficient technical support.

Cons

  1. Lack of educational materials.
  2. No phone support.

3. Deriv

Deriv EU Logo
3
Register67.28% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 5
compare Deriv EU trading accounts

Deriv Europe is ideally suited for traders who value a secure, well-regulated trading environment with a straightforward approach. It is particularly beneficial for those starting trading due to its user-friendly platforms and simple account management processes.

Pros and Cons of Deriv EU

Pros

  1. Simple and fast account opening process.
  2. Low commission structure.
  3. Convenient methods for account funding and withdrawal without commission.
  4. High-level technical support with fast and quality responses.

Cons

  1. Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
  2. Educational materials are limited to a blog and lack comprehensive learning resources.

4. FXOpen

FXOpen Logo
4
Register58-60% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Regulators:
Trading Assets
ForexPrecious MetalsIndicesStocksETFCryptocurrencyEnergy Carriers
Trading Platforms
MetaTrader 4MetaTrader 5TickTraderTradingView
compare FXOpen trading accounts

FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.

FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.

Pros and Cons of FXOpen

Pros

  1. Wide range of trading assets.
  2. Low spreads and commissions.
  3. Support for various trading platforms.

Cons

  1. Lack of educational materials.

5. IFC Markets

IFC Markets Logo
5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexStocksETFIndicesCryptocurrencyPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
NetTradeXMetaTrader 4MetaTrader 5
compare IFC Markets trading accounts

IFC Markets is a reliable and licensed broker, offering a broad spectrum of trading instruments and platforms for investors of various experience levels. With multilingual support and extensive educational resources, the company aims to provide its clients with a comfortable and efficient trading environment.

IFC Markets could be a suitable choice for investors seeking a variety of trading instruments and platforms.

Pros and Cons of IFC Markets

Pros

  1. A wide range of trading assets.
  2. Variety of trading platforms.
  3. Educational materials for traders of all experience levels.
  4. Tools for creating synthetic tools are available.

Cons

  1. High swaps.

6. FBS

FBS EU Logo
6
Register69.21% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesStocksPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 5FBS Trader
compare FBS EU trading accounts

FBS Europe emerges as a broker well-suited for traders seeking a reliable and secure trading environment complemented by competitive trading conditions. With its robust regulatory framework, comprehensive educational resources, and multilingual support, FBS appeals to novice and experienced traders who prioritize learning and support in their trading journey.

FBS stands out for its commitment to providing a user-friendly and supportive trading experience, making it a solid choice for traders focused on forex and major financial instruments.

Pros and Cons of FBS EU

Pros

  1. Low spreads and trading fees.
  2. Extensive database of educational materials and analytical tools.
  3. Wide range of trading assets.

Cons

  1. Limited choice of trading accounts.
  2. Limited trading platforms.

7. XM

XM Logo
7
4.2/5
XM review
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesStocksPrecious MetalsEnergy CarriersSoft CommoditiesCryptocurrency
Trading Platforms
MetaTrader 5MetaTrader 4
compare XM trading accounts

XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.

Pros and Cons of XM

Pros

  1. Wide range of trading assets.
  2. Extensive educational resources.
  3. Tight spreads on the Ultra Low account.
  4. Many analytical materials.
  5. Commission-free deposits and withdrawals.

Cons

  1. Inconsistency in technical support.
  2. Inactivity fee.
  3. Standard account has a higher spread than the market average.

8. InstaForex

InstaForex Logo
8
Register71.99% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 5MetaTrader 4InstaForex Webtrader
compare InstaForex trading accounts

InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.

InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.

Pros and Cons of InstaForex

Pros

  1. Large selection of trading instruments.
  2. PAMM accounts and the ForexCopy automatic trade copying service for passive income.
  3. 24/7 efficient customer support.
  4. Wide range of methods for depositing and withdrawing funds.
  5. Decent analytical section.

Cons

  1. Trading commissions are above average.
  2. No trading accounts with market execution of orders (ECN or STP).
  3. Broker commission on fund withdrawals.

9. Libertex

Libertex Logo
9
Register74.91% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexStocksCryptocurrencyETFPrecious MetalsEnergy CarriersSoft CommoditiesIndicesBonds
Trading Platforms
LibertexMetaTrader 4MetaTrader 5
compare Libertex trading accounts

Libertex is an established broker offering various trading instruments and educational resources. With zero commission on deposits and various analytical tools, this broker can appeal to novice and experienced traders.

Pros and Cons of Libertex

Pros

  1. Tight spreads and attractive trading conditions.
  2. Wide selection of trading assets.
  3. Rich selection of educational materials and analytics.

Cons

  1. High swaps and inactivity fee.

10. Oanda

Oanda EU Logo
10
Register71% of retail investors lose money when trading CFDs with this broker
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy CarriersSoft CommoditiesETF
Trading Platforms
MetaTrader 5TradingViewfxTrade
compare Oanda EU trading accounts

OANDA Europe best suits intermediate to advanced traders who value a regulated trading environment, diverse market access, and robust trading platforms. These traders will likely benefit the most from OANDA's offerings and may find the limited educational resources and support hours less of a concern. Beginners might need to supplement their learning with external resources.

Pros and Cons of Oanda EU

Pros

  1. Tight spreads.
  2. Efficient and secure processes for account funding and withdrawals.
  3. Extensive market and product offerings.
  4. High-quality trading platforms.
  5. Quality analytics.

Cons

  1. Limited diversity in account offerings.
  2. High swaps.
  3. Limited educational resources.

Regulation of Forex Brokers in Belgium

In Belgium, the activities of Forex and CFD brokers are governed by strict regulations to protect investors, ensure the integrity of trading operations, and maintain financial stability. The primary regulatory authority in the country is the Financial Services and Markets Authority (FSMA). The FSMA establishes and enforces compliance standards for financial institutions, including Forex brokers.

Since 2016, the FSMA has banned the offering of CFDs, rolling spot forex contracts, and binary options to retail traders due to the high risks involved with these instruments. Additionally, aggressive marketing practices for these products are prohibited to prevent them from being targeted at vulnerable groups, such as senior citizens and financially inexperienced individuals. However, professional traders who meet specific criteria, such as a significant financial portfolio and relevant experience, can still trade these instruments​​.

Belgium adheres to European Union legislation, including the Markets in Financial Instruments Directive (MiFID II), which promotes harmonization and efficiency of financial markets across Europe. This further protects investors by establishing standards for operational transparency and risk management​.

Overall, the comprehensive regulatory framework in Belgium ensures a reliable and secure environment for Forex trading. Strict regulations by the FSMA provide Belgian traders with protection and stability, fostering optimal conditions for successful Forex trading.

How We Compiled the List of Top Forex Brokers in Belgium

Our approach to identifying the leading Forex trading platforms in Belgium involved meticulous precision and a comprehensive set of benchmarks:

  1. Thorough Research and Evaluation: We began by assembling an extensive Forex broker ranking that met our predefined criteria. Each broker was meticulously scrutinized through a detailed evaluation methodology to assess their services and operational efficiency in an unbiased manner.

  2. Regulatory Adherence: We focused on brokers regulated by recognized financial authorities such as the Financial Services and Markets Authority (FSMA) and other reputable European regulators like CySEC, BaFin, or FCA. This ensures the brokers operate transparently and comply with stringent financial standards.

  3. Trading Conditions and Platforms: We evaluated brokers based on their trading conditions, including spreads, fees, minimum deposits, and the variety of trading instruments available. The quality and usability of their trading platforms were also assessed, with a preference for those offering popular platforms like MetaTrader 4 and MetaTrader 5, as well as proprietary platforms with advanced features.

  4. Customer Support and Localization: The quality of customer support was a key factor, particularly the availability of support in French and Dutch and accessible communication channels. We also considered brokers that offer localized services, such as websites and educational resources in these languages, to better serve Belgian traders.

  5. User Feedback: We incorporated genuine feedback from traders who have used these brokers to provide a well-rounded view of each broker's strengths and weaknesses. This includes aspects like ease of use, customer service experiences, and overall satisfaction.

By carefully considering these factors, we have compiled a list of the top Forex brokers in Belgium, ensuring that they meet the high standards expected by Belgian traders.

FAQ

Yes, Forex trading is legal in Belgium. However, the Financial Services and Markets Authority (FSMA) has placed strict regulations on the types of financial products available to retail traders. For instance, CFDs and binary options are restricted for retail clients due to their high risk. Professional traders, who meet specific criteria, are not subject to these restrictions.

What are the best Forex brokers in Belgium?

The best Forex brokers in Belgium are those that meet stringent regulatory standards and offer competitive trading conditions. Some top brokers include:

  • XM: Known for low spreads and extensive educational resources.
  • FBS: Offers a wide range of trading instruments and robust trading platforms.
  • FxPro: Provides advanced trading tools and a comprehensive range of assets.

Is Forex trading taxable in Belgium?

Yes, Forex trading is taxable in Belgium. The profits from Forex trading are subject to personal income tax. Traders must report their earnings to the Belgian tax authorities and pay taxes accordingly. It's advisable to consult with a tax professional to ensure compliance with all tax regulations.

What is the minimum deposit to start Forex trading in Belgium?

The minimum deposit required to start Forex trading in Belgium varies by broker. Some brokers may allow you to start trading with as little as $100, while others may require a higher initial deposit. Always check the specific requirements of your chosen broker.

How to verify if a Forex broker is regulated in Belgium?

To verify if a Forex broker is regulated in Belgium:

  1. Check the broker’s website: Look for regulatory information and license numbers.
  2. Visit the FSMA website: Use the FSMA’s online tools to verify the broker’s regulatory status.
  3. Consult European regulatory databases: Regulators like CySEC, BaFin, and FCA also list licensed brokers.

What are the best Forex brokers for beginners in Belgium?

The best Forex brokers for beginners in Belgium typically offer educational resources, demo accounts, and user-friendly platforms. Some top choices include:

  • eToro: Known for its social trading platform and ease of use.
  • FBS: Offers a simple and intuitive trading interface.
  • XM: Provides extensive educational materials and support.

What is the safest Forex broker in Belgium?

The safest Forex brokers in Belgium are those regulated by reputable authorities such as the FSMA, FCA, CySEC, or BaFin. These brokers comply with stringent regulatory standards and provide robust security measures to protect clients’ funds and data. Examples include:

  • FxPro
  • Oanda
  • XM

How do I start Forex trading in Belgium?

To start Forex trading in Belgium:

  1. Choose a regulated broker: Ensure the broker is regulated by the FSMA or another reputable authority.
  2. Open an account: Complete the registration process and verify your identity.
  3. Deposit funds: Transfer the minimum required deposit to your trading account.
  4. Practice on a demo account: Familiarize yourself with the trading platform using a demo account.
  5. Start trading: Begin trading with a live account, applying the strategies and knowledge gained from your practice.

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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