5 Best Forex Brokers in Belgium

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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Contrary to what you might have heard, there are plenty of Forex / CFD brokers which accept Belgian residents as clients. I’ve looked at the best Forex brokers in Belgium in detail and compiled the shortlist below. Read on to find the best Forex broker for you, and to learn some important facts about trading in Belgium.

The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best all around broker
High floating leverage + fast execution
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best ECN execution on the MT4 platform
Excellent implementation of cTrader and Smart Trader Tools
78% of retail CFD accounts lose money
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best social trading platform on the market
Excellent choice of options for crypto traders
Get Started
78% of retail CFD accounts lose money
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
50% deposit bonus + leverage up to 1:500
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Quick and easy account registration
Excellent bonuses available in some locations

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • Pepperstone, Great ECN execution on MT4 platform.
  • eToro, Best broker for social traders and crypto traders : 78% of retail CFD accounts lose money.
  • Vantage FX, 50% deposit bonus + leverage up to 1:500.
  • XM, Exception range of assets + negative balance protection.

The Most Trusted Trading Platforms in Belgium


5.0/5 in this category
In Summary
Best all-around broker with high floating leverage and fast execution

Demanding traders who plan a minimum deposit of $500 will find one of the most competitive pricing environments at FXTM, placing it among the cheapest Forex brokers in Belgium. The average execution speed is 0.072 seconds, and an average price improvement of 0.29 pips or $2.90 per lot, making it an ideal choice for scalpers and high-frequency traders, especially considering its verified order execution statistics. FXTM offers the core MT4/MT5 trading platforms, supporting algorithmic and copy trading.

FXTM offers 1,000+ assets, with equity trading at its core, supported by direct share investments and in-house constructed thematic stock baskets for long-term investors. The FXTM Invest service presents a quality copy trading platform, and beginners get quality education, research, and trading signals.

  • Excellent commission-based Forex pricing environment and transparency

  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app

  • Quality market research and educational content for beginner traders

  • Proprietary copy trading platform, low minimum deposit, and high leverage

  • Limited choice of cryptocurrencies and commodities


5.0/5 in this category
In Summary
Great ECN execution on MT4 platform

Pepperstone earned a spot on the most competitive Forex brokers in Belgium list due to its cutting-edge trading tools, balanced asset selection of 1,200+ trading instruments, and low-cost commission-based pricing environment, including a volume-based rebate program. It added Capitalise AI, which is a code-free environment to automate trading and offers API trading. The 28 add-on Smart Trader Tools upgrade and the Autochartist plugin create one of the most competitive MT4/MT5 environments, and Pepperstone additionally offers cTrader, the leading ECN alternative.

All three platforms feature integrated copy trading services, and Pepperstone also offers Myfxbook Autotrade, DupliTrade, and the TradingView community, home to 30M+ traders. The in-house analytics team and FX Evolution partnership provide beginners with quality educational material and market commentary.

  • Excellent choice of trading platforms consisting of MT4/MT5, and cTrader

  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading

  • Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade

  • Leverage of up to 1:30 and superb trade execution

  • Demo accounts have 30-day time limits


4.5/5 in this category
In Summary
Best broker for social traders and crypto traders : 78% of retail CFD accounts lose money

eToro landed in the best Forex brokers in Belgium candidates to consider due to its large trading community, home to 25M+ traders, and its CopyTrader and CopyPortfolios services. Forex traders get an average choice of currency pairs but with above-average commission-free costs. eToro provides in-house managed thematic investment portfolios and direct share dealing for passive and dividend income-generating portfolios. Equity traders get 2,000+ CFDs and ETFs.

Cryptocurrency traders also get a competitive environment. After eToro developed its crypto wallet, it acquired Dutch and Belgian cryptocurrency companies and launched an NFT fund. The eToro Academy caters to beginners, supplemented by in-depth analytics at eToro Plus and insights with market leaders at The Bull Club. Active trader rewards exist via the eToro Club.

  • Active investment community ideal for social trading

  • Dedicated tools for social trading

  • Broad cryptocurrency selection

  • Expanding educational offering for beginner traders

  • Internal withdrawal fees

  • Low retail leverage and higher minimum deposits, but within a reasonable range

Vantage FX

4.5/5 in this category
In Summary
50% deposit bonus + leverage up to 1:500

VantageFX upgrades the core MT4/MT5 trading platforms with nine add-ons bundled into its SmartTrader Tools package. Additionally, traders may use the VantageFX ProTrader platform, powered by TradingView, which includes its active trading community of 30M+ traders. Commission-free costs are above-average, but for a minimum deposit of $500, traders get a competitive commission-based alternative, while $10,000 unlocks one of the cheapest cost structures industry-wide.

A choice of 400+ assets cater to most short-term strategies. Beginners get quality educational content, market research, and actionable trading signals provided by Trading Central. VantageFX earned a spot on the most competitive Forex brokers in Belgium list due to outstanding trading infrastructure, deep liquidity, and trustworthiness. A high-paying affiliate program also exists.

  • Low trading costs and upgraded MT4/MT5 trading accounts

  • High leverage for international traders and fast order execution

  • Quality trading tools, including actionable trading ideas

  • A well-regulated, secure, and transparent trading environment

  • Higher minimum deposit but within a reasonable range

  • No cryptocurrency trading


4.0/5 in this category
In Summary
Exception range of assets + negative balance protection

With a minimum deposit of only $5, XM earned a spot on the most accessible Forex brokers in Belgium list. XM is home to 5M+ traders from 190 countries. Traders benefit from one of the most efficient order execution environments, processing 2.4B orders without requotes or rejections with an order execution speed of less than one second, catering well to scalpers and high-frequency traders.

Traders get a choice of 1,000+ assets available in upgraded MT4/MT5 trading platforms. The commission-based account provides a competitive offer, but commission-free traders must accept above-average costs. XM maintains dozens of payment processors and provides beginners with quality educational content, trading tools, and market research.

  • Outstanding trading tools and loyalty program

  • Low minimum deposit, high leverage, and competitive trading cost

  • Excellent research and education

  • Trustworthy and transparent with generous bonuses and incentives

  • Inactivity fee

Forex in Belgium: Legality, Tax, and Getting Started

Is Forex Trading Legal in Belgium?

The simple answer is that there is no law against a Belgian resident trading Forex. However, Belgium does have strict laws aimed at Forex brokers. In 2016, the Belgian regulator, the Financial Services and Markets Authority (FSMA), banned brokers from offering CFDs, rolling spot Forex contracts, and binary options to retail traders. They also banned most forms of marketing. Of course, the FSMA has no way to enforce these regulations against offshore Forex / CFD brokers outside Belgium who are prepared to accept Belgian residents as clients, and there are several such brokers.

Belgian-regulated brokers can still offer unleveraged trading in stocks, shares, and a few other products.

Also note that if you are resident in Belgium but hold the passport of another country, brokers are probably not going to breaking regulations by accepting you as a retail client and offering you trading in Forex products.

Is Forex Trading Taxable in Belgium?

Yes, Forex trading is taxable in Belgium. However, as Forex trading is domestically prohibited for retail traders in Belgium, it is hard to find publicity about tax details which apply to profitable Forex traders using an offshore brokerage, although it is clear the individual trader breaks no Belgian law in this example.

Any Belgian tax resident making a profit trading Forex should always consult with a professional tax adviser for details of their tax liability. It is possible that Forex trading profits will be taxed at the same rate as a “professional salary” under the Belgian tax code.

How Much Do I Need to Start Trading Forex in Belgium?

Although some Forex brokers have no minimum deposit requirements, or very low minimums, beginners should ideally aim to deposit at least $120 to trade with a safe level of risk. Depositing an affordable amount every month can also work well after the initial deposit.

How to Verify a Broker’s Regulation in Belgium?

All brokers regulated in Belgium are listed at the website of the Belgian financial regulator, the Financial Services and Markets Authority (FSMA). A search can be made easily by choosing the “Consumer” tab, then clicking on “search function” under “Check your provider”. If the broker you are searching for is not listed, it is not regulated in Belgium.

Retail Forex traders wishing to trade spot Forex or CFDs will anyway have to use a broker which is not regulated in Belgum.

How to Choose a Forex Broker in Belgium

Finding the right competitive Forex broker for you can be a challenge, as there are literally hundreds of international Forex brokers. We give you a head start in building a shortlist to choose from by composing a list of the best Forex brokers in Belgium to help you make the best choice.

Here is a checklist on how to choose a Forex broker:

1. RegulationAs most Belgian resident traders are going to need to use a broker based outside Belgium, it is especially important to choose a well-regulated, trustworthy broker with a good reputation. It is important to avoid unregulated brokers.

2. User Reviews – These can be inaccurate, with some reviews likely posted by traders who have failed to understand terms and conditions or by employees of brokers to post fake positive reviews about their services and fake negative ones on competitors. So, while you should take an individual review with a pinch of salt, if many reviews are mostly positive or negative, this is something worth noting.

3. Trading Platforms - The MT4 trading platform, fully supportive of algorithmic and copy trading, remains the best choice for Forex traders, as it comes with 25,000+ EAs, plugins, and custom indicators. In any case, if there is a particular trading platform you are determined to use, you must make sure your chosen broker offers it. However, the importance of trading platforms is very exaggerated, as most traders can get used to new platforms without much of a problem.

4. Trading Fees – Every broker has a different cost structure which will impact the cost of trading and therefore profit and loss. Some brokers will have a better overall offer for shorter-term traders or longer-term traders, and some will be more competitive on some asset classes than others. It is very important to carefully examine the spreads, commissions, and overnight fees typically offered by any broker before making a choice.

5. Customer Support - A 24/5 multilingual customer support team, a phone number, and live chat are essential for quality customer support.

6. Risk Management – Anyone trading Forex on a leveraged basis should be looking for a broker offering negative balance protection, Forex traders must ensure negative balance protection and an automatic stop-out level exist., and ideally automatic loss limiting stops.

7. Selection of Assets – Your trading style will determine how many currency pairs or other instruments you will want to trade. Some brokers with wide asset offerings are better for traders needing to be strongly diversified across asset classes. If you are a more narrowly focused trader and only want to trade a few different assets, then a wide choice will not be an important factor for you.

How to Trade Forex in Belgium?

The number one step for anyone wanting to get started trading Forex is to learn the basics about Forex trading and understand what they are trying to achieve: to profit by selling higher than buying, or by buying lower than selling.

Once you have educated yourself in the basics, you are ready to start looking for a Forex / CFD broker. It is a good idea to open a demo account with your chosen broker to familiarize yourself with their offering before depositing real funds, as a kind of road test.

The following steps are a good guide in your search:

  • Select a trustworthy Forex broker from this best Forex brokers in Belgium list
  • Ensure a low-cost Forex cost structure exists, with total trading fees per lot not exceeding $7.00
  • If you have any special algorithmic, social, or mobile trading needs, you will probably need a broker which offers one of the MT4, MT5, or cTrader trading platforms
  • A competitive and appropriate leverage offer, plus negative balance protection

Final Thoughts

Although many people in Belgium think Forex and CFD trading has been effectively banned, it is quite possible for Belgian resident traders to open accounts with offshore Forex brokers and generate profits from these markets without breaking any Belgian laws, provided any profits are declared, and taxes paid.

There are a reasonable number of Forex brokers which will accept Belgian residents of clients, and several of them enjoy regulation in Tier 1 jurisdictions. Regulatory excellence is an especially important factor when you are choosing an offshore Forex broker.


Can I trade Forex in Belgium?

Belgian-regulated brokers are not allowed to offer leveraged Forex trading in Belgium, but you can trade Forex in Belgium by using an offshore Forex broker.

How can I trade in Belgium?

You can trade unleveraged stocks and shares in Belgium by opening an account with a local broker or leveraged Forex / CFD instruments by opening an account with a suitable offshore broker.

Do traders pay tax in Belgium?

Yes, traders resident in Belgium must pay tax on any profits.

Is Bitcoin legal in Belgium?

Yes, Bitcoin is legal in Belgium.

Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.