To come up with this list, we have tested over 20 forex brokers Belgium.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, we placed real trades in each popular market with the purpose of getting the actual picture. 

We also contacted customer support to solve issues that we had encountered. At last, we withdrew our funds to check the withdrawal process.

We handpicked the best forex brokers Belgium based on our trading data and experience as a trader.

Is Forex Trading Legal in Belgium?

Forex trading in Belgium is regulated by the Financial Services and Markets Authority (FSMA). The body was established in 2001 and it is committed to ensuring that people who use financial services are treated fairly. The FSMA, together with the National Bank of Belgium, is responsible for monitoring and supervising the Belgian financial sector.

You can visit the Financial Services and Markets Authority website for more information.

FSMA supervises the financial services providers, follows that the companies comply with conduct of business rules, supervises products, and contributes to the improvement of financial education in the country.

Belgium is a member of the EU, thus all the European and UK brokers are available for Belgium traders. Still, trading forex in the country is easier if you are not a Belgium citizen. For its citizens, there are some restrictions and rules. According to them, forex trading for retail traders is banned. Only professional traders are able to access the market. To prove that they are professional traders, the citizens of Belgium have to submit a Financial portfolio of at least 500.000€, also, proof of one or more years of experience. Only after the verification of the submitted information, Belgium traders are able to start trading. 

🏦RegulatorFinancial Services and Markets Authority (FSMA)
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes

Best Forex Brokers in Belgium

As to forex brokers Belgium, there are a number of points traders should consider before making a final choice. First, if you are a retail trader, you should be aware that you will not have access to a number of instruments: spread betting, binary options, leveraged products, and spot forex.

In Belgium, there are local brokers based in the country. There are also brokers that accept traders from Belgium. All the European and UK brokers accept traders from the country as it is a part of the EU, due to ESMA regulation. 

When choosing a broker, it is advisable to avoid offshore brokers. Their offerings can be quite favorable, yet it is better to avoid signing with them. Also, another important point to pay attention to is customer service. Make sure that the broker provides services in your preferred language.  

To select the best forex brokers Belgium, we have tested and reviewed many forex brokers. For our tests, we opened a live account, deposited real money, and placed real trades with each broker. Based on our test and observations, we recommend choosing from Cyprus, Germany, or other EU brokers with a good reputation.

We have come up with the following best forex brokers Belgium:

  • AvaTrade
  • FBS
  • FXTM
  • Admiral Markets

Overall Best Broker in Belgium

We picked FBS as the overall best forex broker Belgium. 

FBS is a forex CFDs broker founded in 2009. It is based in Belize and Cyprus. The broker is heavily regulated in Belize, Cyprus, and Australia. FBS offers a number of tradable instruments in different categories: forex, indices, commodities, stocks, and cryptocurrency CFDs.

FBS spreads on forex, indices, and stocks CFDs are rather low, mostly lower than the industry average. On the other hand, spreads on commodities are slightly higher. The broker offers a few account types: Standard Account, Cent Account, Micro Account, Zero Spread Account, ECN Account.

FBS supports deposits with bank transfers, credit and debit cards, and popular e-wallets like Neteller, and Skrill. FBS offers several options for trading platforms to choose from: MetaTrader 4, MetaTrader 5, and FBS Trader. FBS also offers quality education: webinars, video guides, glossary, demo account.

Best Forex Brokers for Beginners in Belgium

We picked OANDA as the best forex broker Belgium for beginners.

OANDA was founded in 1996, in the US. The broker is heavily regulated with a number of licenses: CFTC, NFA, FCA, MAS, ASIC, IIROC. OANDA offers a wide range of instruments: Forex and CFD trading, currency pairs, indices, commodities, bonds and metals, futures trading, commodities futures. OANDA has only one standard account type. However, clients with a minimum $50K deposit automatically acquire the status of a Premium client. This way they get tighter spreads and better offerings.

OANDA offers different trading platform options. It has its own proprietary platform – Oanda Trade, however, traders can perform their tradings through the MT4 platform.

We have picked OANDA as the best forex broker Belgium for beginners as its education section is rather good and diverse. It offers a wide range of educational materials and webinars for traders at different levels.

Best MT4 Forex Broker for Belgium

We picked FXTM as the best MT4 broker in Belgium. 

ForexTime was founded in 2011 and is headquartered in Cyprus. The broker is strictly regulated and holds licenses in different jurisdictions: the United Kingdom, Cyprus, South Africa, and Mauritius. Among FXTM offerings are forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks. FXTM offers several account type options: Standard Account, Cent Account, and Stock CFDs Account. 

FXTM traders can choose from 3 main trading platforms: MT4, MT5, FXTM Trader (proprietary mobile platform). We have picked FXTM as the best MT4 forex broker Belgium, as it includes most of the important tools and features to conduct successful trading.

Best Low Spread Forex Broker for Belgian Trader

We picked AvaTrade as the best low spread forex broker in Belgium.

AvaTrade was founded in 2006. It is headquartered in Dublin and Ireland. The broker is strictly regulated in several jurisdictions: Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. AvaTrade offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs. 

Based on our test, AvaTrade offers attractive spreads on forex, stocks, commodities, and cryptocurrency CFDs. We have picked AvaTrade as the best low spread forex broker as its spreads for forex, indices, and commodities are much below the industry average. Anyway, Cryptocurrency and stock spreads are slightly on the higher side. 

Belgium Forex Brokers List

There are many brokers available to Belgian traders. We have tested them and come up with an impressive list.

Belgium Forex BrokerAbout Our TestOur Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
AXI (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Markets.comDeposit Amount: Over €4,500
Total Trade: 12 trades Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillDeposit Amount: Over €8,000
Total Trade: 12 trades
Tickmill Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review

FAQ and More on Forex Trading in Belgium

There are often a lot of questions related to trading in Belgium. We tried to pick and answer some of the most important queries related to the brokers available in the country.

How to Verify Belgium Regulated Broker

In Belgium, traders should make sure that the broker is ESMA compliant. This can be checked out on the ESMA website, also, by contacting one of the two regulators- FSMA or CySEC (Cyprus).

You can always check the broker on the FSMA website, and type the name of the broker on the search bar. You can also search for the information on the broker’s official website. It is advisable to double-check the information before signing with the broker.

Belgium - FSMA website

Trading Gold Forex Belgium

The gold market offers high liquidity and excellent opportunities to profit in nearly all environments due to its unique position within the world’s economic systems.

The MetaTrader 4 platform is where you can trade gold, but many brokers offer this service on their own proprietary platforms, too. Based on our test we have selected two forex brokers Belgium for trading gold.

  • AvaTrade
  • FXTM

Tax in Belgium for Forex Trading

Forex trading is taxable in Belgium. However, as it is mostly available to professional traders, the taxing field is a bit complicated. Generally, taxes are applied to gains that exceed 20K annually. 

For additional information, traders should contact the local authorities. Anyway, traders are responsible for submitting a tax form to the relevant institutions in the country to avoid any complications.  

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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