Best Forex Brokers in Belgium
Many brokers offering services in EU and EEA countries are available to Belgian traders which are further regulated by FMSA. To help you choose only the best, we have carefully vetted forex brokers by reviewing their regulations, trading platforms, fees, customer reviews, and support. Find our top 10 brokers in Belgium.
InstaforexBonus30% deposit bonus
Best Offer On BonusesMin deposit $1Max leverage 1:1000Regulated by FSC (BVI)Add to compare list4.4 / 5Start tradingPros, cons & fees
Wide Range of Trading Instruments
High Leverage Options
Low Minimum Deposit
Not Regulated by Top-Tier Authorities
Mixed User Reviews
High Spreads on Some Account Types
eToro EU
Investor protectionBest For Stock and Crypto TradingMin deposit $50Regulated by CySEC, ASIC, FINRA +1Add to compare list4.3 / 5Start tradingPros, cons & fees
User-Friendly Trading Experience
Innovative Social Trading Features
Regulated and Secure Platform
Limited Advanced Trading Tools and Customization
Presence of Non-Trading Fees
Limited Research and Educational Resources
Hantec Markets Investor protection1:500 Max LeverageMin deposit $10Max leverage 1:500Regulated by FCA, FSCAdd to compare list4.3 / 5Start tradingPros, cons & fees
Strong Regulation
Fast Execution Speeds
Low Minimum Deposit
Lack of Proprietary Platform
Limited Educational Resources
Some Reported Withdrawal Issues
FXCMBonusWelcome Bonus Offer by FXCMRegulated by FCA and ASICRegulated by ASIC, CySEC, CIRO +1Add to compare list4.3 / 5Start tradingPros, cons & fees
Regulated by Top-Tier Authorities
User-Friendly Proprietary Platform
Competitive Spreads for Active Traders
Limited Product Portfolio
High Bank Withdrawal Fees
No Two-Step Authentication on Trading Platforms
Switch Markets Investor protectionBonus100% deposit bonusAutomated Trading StrategiesMin deposit $50Max leverage 1:1000Regulated by VFSC, FSA (SV), ASIC +1Add to compare list4.3 / 5Start tradingPros, cons & fees
Wide Range of Tradable CFDs: Switch Markets offers over 1,000 tradable assets across six markets like forex, commodities, shares, ETFs, cryptos, and indices.
Advanced Free Trading Tools: Switch Markets provides clients with a variety of free trading tools, including a VPS, PineConnector, AlgoBuilder (an AI trading tool that enables traders to automate their trading without coding skills), and TrackATrader to enhance their trading experience.
Islamic Swap-Free Trading Account is Available: Switch Markets offers an Islamic (swap-free) account, enabling traders to hold positions overnight without paying swap fees.
No Rebate Program: Switch Markets does not offer a rebate program for active traders who trade high volumes, but by becoming a VIP, there is an option for lower commissions.
No Phone Support: Phone support is not available 24/7, but there is an option to book a callback.
DuraMarketsBonus250% deposit bonus250% Deposit BonusMin deposit $10Max leverage 1:500Regulated by MISAAdd to compare list4.3 / 5Start tradingPros, cons & fees
Low Barrier to Entry: Traders can start trading with a very low minimum deposit of $10, making the broker accessible to many new traders.
MetaTrader 4 & 5 Trading Platforms: DuraMarkets offers access to both MetaTrader 4 & 5 trading platforms.
Swap-Free Islamic Account Option: The company offers a dedicated swap-free trading account for traders who want to avoid overnight swap fees.
Lack of Tier 1 Regulators: DuraMarkets lacks the oversight of a Tier-1 regulator like ASIC, CySEC, NFA, or FCA.
Crypto-Only Payments: The broker exclusively accepts cryptocurrency for deposits and withdrawals, which may be inconvenient for traders who prefer traditional payment methods.
EasyMarkets Investor protectionBonusUp to $2,000 deposit bonusBest For Active TradersRegulated by ASIC, FSC (BVI), CySEC +1Add to compare list4.3 / 5Start tradingPros, cons & fees
Offers risk management tools
Provides a wide range of unique trading instruments
Provides a user-friendly platform
Limited customer support
Limited clientele's access to research and educational resources
SpreadEX Investor protection15,000 Tradable InstrumentsMin deposit $0Max leverage 1:30Regulated by FCAAdd to compare list4.3 / 5Start tradingPros, cons & fees
No minimum deposit
No inactivity fees
15000 tradable instruments
No MetaTrader Support
Limited availability
FxGiants Investor protectionBonusUp to $4,000 deposit bonusBest For Auto TradingRegulated by FCAAdd to compare list4.3 / 5Start tradingPros, cons & fees
Strong Regulation: FXGiants is distinguished by its strong regulation under the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia. This regulatory oversight ensures that FXGiants adheres to strict financial standards and provides clients with high security and trust.
Diverse Range of Instruments: With FXGiants, traders gain access to a diverse range of instruments, including forex currency pairs, indices, stocks, energies, metals, bonds, commodities, cryptocurrencies, and shares.
Competitive Spreads: FXGiants offers competitive spreads, providing traders with favorable pricing conditions. These lower spreads can reduce trading costs, maximizing potential client profitability.
Doesn't Allow Hedging: Traders are not permitted to open opposing positions on the same instrument. While this restriction may not align with specific trading strategies that rely on hedging for risk management, alternative risk management approaches can be explored.
Limited Regional Availability: This restricted regional availability could be a drawback for traders who reside in those areas but wish to trade with FXGiants. Traders should ensure that their country of residence is eligible for opening an account with FXGiants before considering them as their preferred broker.
Inactivity Fees: FXGiants impose inactivity fees on dormant accounts. Traders who do not actively engage in trading may incur these fees, which could be a disadvantage for those who prefer a more passive trading approach. Traders need to be mindful of these fees and actively manage their accounts to avoid inactivity charges.
SAXO Investor protectionBonusReferral Reward by SaxoBest For Experienced InvestorsMin deposit NoMax leverage 1:100Regulated by ASIC, FCA, DFSA +10Add to compare list4.3 / 5Start tradingPros, cons & fees
SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.
Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.
SaxoTraderGo is equipped with all the necessary tools traders might need.
SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.
Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.
SaxoTraderGo is equipped with all the necessary tools traders might need.
Our ranking methodology and selection process
Is Forex Trading Legal in Belgium?
For Belgian traders wondering if it is even legal to do forex trading in Belgium, Brokers under EU-based regulations like CySEC, BaFin, and FCA can legally provide forex trading services to Belgian traders.
The legality of forex trading in Belgium is often confusing to people because FSMA does not directly regulate any brokers and restricts promotion and marketing of high-risk financial products, especially for retail forex traders (small scale traders). Professional traders who meet a certain criteria like €500,000 in assets get some exceptions. However, traders can trade with brokers that comply with EU regulations, especially with brokers under MiFID II.
What Forex Trading Platforms are regulated in Belgium?
The Belgian financial authority does not directly regulate any trading platforms. But the trading platforms regulated by other EU-regulations and MiFID II like BaFin, FCA, and CySEC, that are further compliant by FMSA can be called brokers regulated in Belgium. Because of this reason some brokers that are available to other EU countries are sometimes not available to traders in Belgium. FXPro, IC Markets, XM, and Pepperstone are some examples of trading platforms that you can say are regulated in Belgium. To only see regulated brokers in our listings, you can use the regulated filter.
How to Start Forex Trading in Belgium?
It is important to note that forex trading is risky and does not guarantee profits. However, taking the right steps can help you avoid mistakes and make more informed trading decisions. Here are some actionable steps you can follow to start forex trading in Belgium:
- Do your research on what forex trading is, common trading terms, trading strategies, etc. You can explore our Forex Basics and Forex for Beginners blog categories to find a lot of helpful content.
- Understand the legal aspects of trading in Belgium and restricted trading instruments. For example, trading instruments like CFDs, rolling spot forex contracts, and binary options are banned for retail traders in Belgium.
- Select a broker regulated by EU-based regulators and FMSA.
- Start with demo accounts. You can refine your trading skills without incurring financial losses this way. If you are from Belgium and are a beginner trader, who wants to start trading forex then any regulated broker with a low entry point is usually a better choice.
- Start trading with small investments and then scale over time.
This is a simple but practical roadmap you can follow to start forex trading.