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Best Forex Brokers in Belgium 2022

Best Forex Brokers in Belgium 2021

Belgium is a great place to trade Forex because of its well-developed infrastructure and open economy. Moreover, the Belgian government has worked hard to create a favorable environment for Forex trading Belgium, resulting in a thriving industry that benefits both traders and the economy as a whole. This article will give you insight into how the foreign exchange market is doing in Belgium and what Belgian forex brokers are available for the traders. Moreover, it will feature a list of the best broker Belgium to make an educated decision as to which broker is most suited for the trading needs. There is several best trading platform Belgium, and most of them offer a wide range of services and products.  Doing your research before selecting a broker is important, as not all brokers are created equal.

Best Forex Brokers Belgium List:

 

RANK VISIT
BROKER
REGULATION

We only list licensed brokers that comply with the requirements of prominent regulatory agencies.

MIN
DEPOSIT

The minimum amount you need to deposit in order to start trading.

DEPOSIT
BONUS
RATING MAX
LEVERAGE

Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.

PAYMENT
SYSTEM
SUPPORT START
TRADING
1
ASIC, CySEC
$100
No Bonus
500:1

Telephone: +44 28 2544 7780

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Pros
  • Excellent education tools
  • Low forex fees
  • Fast account opening
  • Easy funding methods
Cons
  • No bonuses
Platforms & Devices
2
FCA, CySEC, FSCA, SCB
$100
No Bonus
100:1

Telephone: +44 (0) 203 151 5550

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Pros
  • Excellent customer service
  • Free deposit and withdrawal
  • Negative balance protection
  • Wide range of platform
Cons
  • Inactivity fee
  • High Trading Fees for some CFDs
Platforms & Devices
3
FSC
$100
65%
200:1

Telephone: +52 556 826 8868

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Pros
  • Different passive income options
  • Discount on commissions for active traders
  • Positive price correction
  • Tight market spreads
Cons
  • Low leverage
  • Less research tools
Platforms & Devices
4
ASIC, CySEC, FSA, SCB
$200
No Bonus
500:1

Telephone: +248 467 19 76

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Pros
  • Low forex fees
  • Fast order execution
  • Analytical training materials
  • 90+ instruments
Cons
  • Slow live chat support
  • Non-EU traders don’t get investor protection
Platforms & Devices
5
ASIC, CySEC, FSC
$5
Up to $5000
1000:1

Telephone: +501 223-6696

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Pros
  • Low withdrawal fees
  • Great educational tools
  • Wide range of leverage
  • Multilingual customer support
Cons
  • Non-EU traders don’t get investor protection
  • Lack of weekend customer support
Platforms & Devices
6
CySEC
$1
100%
3000:1

Telephone: +35 7251 23212

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Pros
  • No withdrawal fee
  • Low stock and stock index CFD fees
  • Negative balance protection
  • No inactivity fee
Cons
  • Average forex CFD fees
  • No PAMM accounts
Platforms & Devices
7
FCA, DFSA, FSCA, FSA, CMA
$5
100%
1000:1

Telephone: +44-2030978571

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Pros
  • Low spread
  • Controlled by several regulators
  • Numerous deposit and withdrawal
  • Favorable trading conditions
Cons
  • Few account currencies
  • Only USD or EUR as base currencies
Platforms & Devices
8
ASIC, FCA
$0
No Bonus
500:1

Telephone: +61 2 9965 5830

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Pros
  • Automatic insurance coverage
  • Low entry threshold
  • Fully digital account opening
  • Low forex fees
Cons
  • Limited research tools
  • Only forex and CFD trading
Platforms & Devices
9
FCA, ASIC, DFSA
$200
No Bonus
30:1

Telephone: +1786 628 1209

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Pros
  • Digital account opening process
  • Seamless deposit and withdrawal
  • Attractive trading conditions
  • No inactivity fee
Cons
  • No cent account
  • Few analytical materials
Platforms & Devices
10
CFTC, FCA, ASIC, FSA, MFSA
$0
up to $1000
50:1

Telephone: 1 212 858 7690

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Pros
  • Outstanding research tools
  • Excellent trading platforms
  • Accepts U.S. clients
  • Superior research offerings
Cons
  • No account protection for U.S. clients
  • Monthly inactivity fee
Platforms & Devices

Is Forex Trading Legal in Belgium?

The legality of Forex trading Belgium is a bit of a grey area as the country banned OTC Forex, CFDs, and Binary Options, Including EU Brokers. So, Belgian traders often remain in a dilemma about the legality of retail forex trading.

The Belgian law on financial sector regulation prohibits transactions conducted by financial undertakings without a license, but forex trading is not considered to be financial services as it does not fall under the definition of “securities.”

So, in Belgium, forex trading is legal, as retail forex trading is not banned. In addition to the issue of legal forex trading in Belgium, the law is less clear on whether or not binary options trading is legal in Belgium. The law on financial sector regulation states that a financial undertaking may only carry out transactions “on financial instruments” and “in relation to financial instruments.” Financial instruments are defined as stocks, bonds, shares issued by investment firms, warrant certificates, units in collective investment schemes, and units representing ownership of an interest rate index.

Who Regulates the Forex Market in Belgium?

The Financial Services and Markets Authority is said to control the forex market as well as the financial institutions in Belgium. The FSMA also links the government and the financial markets, ensures transparency in the financial markets, and strives to combat money laundering and terrorist financing.

As with all other EU member states, Belgium has had to implement most of the directives from Brussels within its legislation. A derivative is any financial instrument whose value is derived from the value of a commodity or other instrument that constitutes its underlying. FSMA supervises the Directives implemented by way of law.

To regulate the financial activity and the different branches of business insurance, FSMA ensures a high level of consumer protection through the supervision of financial services operators and institutions.

In order to carry out its mission, FSMA has the power to intervene in relation with all players within the financial markets, including banks, investment firms, insurers, and more. The supervisory powers mentioned here only deal with Belgium. The authority also has to follow European directives.

The FSMA’s first objective is to ensure a high level of consumer protection. In order to do this, it has to monitor and supervise all financial institutions and their activities. This includes all banks, investment firms, insurers, and even securities brokers. The FSMA must also intervene if these entities are being offered in a way that could cause consumers harm or when they are being used in funding terrorism or other criminal activity.

The FSMA’s second objective is to ensure the fair and honest treatment of all financial markets. This means that all market players must act to ensure that everyone who plays within the financial markets is treated fairly. For example, all Belgian brokers must be registered as such by the FSMA and must not only abide by anti-money laundering rules but also take measures to protect consumers from any illegal practices.

The third objective of FSMA is to ensure the transparency of all financial markets. This means that all the Belgian market players must be open and transparent in their dealings with other market players. Therefore, all traders and brokers must provide accurate information on all matters concerning their companies. In addition, they have to offer clear, documented instructions on how to deal with all aspects of their operations, such as payment methods available and procedures for trading or withdrawing funds.

The fourth objective of the FSMA is to combat money laundering, terrorist financing, and other crimes. The various entities mentioned above are required to comply with anti-money laundering rules and must not engage in any criminal activity. They must also be able to prove that they are not funding terrorism or other criminal activities through their activities within the financial markets.

The FSMA also has the power to impose sanctions on those financial institutions and market players who fail to comply with these requirements. Sanctions include fines and revocation of their registration.

What to Consider When Choosing Best Online Broker Belgium?

Belgium’s well-regulated financial sector and a strong economy have made it a center for Forex trading. The Belgian government has put in place a number of measures to encourage Forex trading, including generous tax breaks and an efficient regulatory system. This has helped to create a thriving Forex industry in Belgium. There are different types of brokers in Belgium who offer various services. The following part will list the considerations to make when choosing a forex broker in Belgium that best suits your needs.

Best Trading Platform Belgium: Broker fees

Depending on what type of forex broker you use, their commissions can vary significantly. Brokers often have different programs and pricing schemes, which makes it difficult to compare them side by side at first glance. They can also vary in the quality of their customer service, with some brokers being much better than others.

Best Broker Belgium: Trade options

Knowing if an investment firm allows you to trade options with them before signing up with them is important. Options are often complicated instruments that come with risk, so choosing the right brokerage will determine whether you can make money trading options or not and how much profit you can make in the process.

Regulation

One thing that investors should consider is whether or not their broker is regulated? Being regulated forex brokers in Belgium means that the company has met a certain set of criteria set by governments and other agencies. If a broker is not regulated, they are much more likely to be a scam and disappear with your money. This information can be found in the fine print of the website, but it might sometimes be difficult to find this information.

Best Broker Belgium: Service quality

This is another important thing to keep in mind when choosing a forex broker in Belgium. How long will it take for customer service to respond to questions? How good is the quality of service? Sometimes, you can even talk to other users and find out their experience with a broker. These factors can be found on most forex forums also.

Best Trading Platform Belgium: Reputation

The worst thing a broker can have is a bad reputation because if that’s the case, did you really want to do business with them in the first place? Most Belgian forex brokers are regulated, so they should be more trustworthy than an unlicensed broker, but the bottom line is still, you have to do your due diligence and make sure not only that they are licensed, but they have a good reputation.

Types of accounts, leverage, spreads, etc.

Once you have narrowed down your candidates, the next step would be to look at their account offerings. We will break this down into 4 key categories:

  • Types of accounts: This refers to both the type of account and its minimum requirement. For example, a standard account is one that requires $1000, while an ECN is an electronic communication network account that requires a much lower deposit, like $250.
  • Leverage: Leverage refers to the ability to control large amounts of money on margin, which means that you will only have to put in a fraction of the buy - or sell - price. Choosing a broker with high leverage can potentially lead to greater gains but also a larger loss if the market moves against you.
  • Minimum deposit: The minimum deposit refers to the amount that must be deposited in order to open an account. Although this is not something that you should focus on, it is still worth mentioning since it can be the deciding factor for smaller trader who don’t have a large sum of money available.
  • Spread: The spread is the difference between the bid and asks prices of each currency pair. It operates like a toll booth, taking a small fee every time you trade. For example, if EURUSD has 2 pips spread, every trade you make will cost 2 pips with no commission costs.

Commission

This refers to the fee you pay when opening an account and placing an order. It is a fixed cost that either decreases or increases as the number of your investments increases. Fees are typically around 0.5% (on some brokers, this can be as high as 1%), which is much lower than the margin interest you pay on capital markets.

Best Broker Belgium: Customer Service

Sometimes it’s hard to choose between two options when choosing a forex broker in Belgium because they might look exactly the same online, but there are opportunities to check before signing up. Customer service is the most important thing to consider because many people have a history of bad experiences with brokers that lack this quality. For example, if you open a complaint on a broker’s website, it is seen as highly negative. The good news is that there are ways we can check this information out without actually having to open a complaint. You may search on google or social media platforms to find the real customer’s feedback.

Deposit Methods

Another important factor when choosing a forex broker in Belgium is the deposit method used. There are various deposit options to choose from, so finding the one that will fit your needs is important. You should always be aware of the deposit methods you have available to you because they may require separate verification and maybe take longer to process. Some Belgian forex brokers even have different types of accounts at each stage as well (e.g., ECN, margin trading, etc.). It’s good to learn what these terms mean since they can make a big difference in the quality of services that you get and which brokers are going to be right for you.

Best Online Broker Belgium: Minimum Deposit

Another important factor to consider when choosing a forex broker in Belgium is the minimum deposit requirement. Many brokers have limits on the amount you can deposit into your account before you become a client. This is sometimes referred to as the account opening threshold. The best broker Belgium may not have any minimum deposit. However, it depends on what sort of services they offer.

Best Forex Brokers Belgium: Deposit Bonus

The deposit bonus refers to extra funds that are deposited into your account once you have made a deposit yourself. Many brokers offer deposit bonuses when you deposit a certain amount of money. Still, sometimes there are some requirements and conditions must be met before you can withdraw the bonus funds. Although this is not always the case, on some brokers, it is not possible to withdraw the bonuses, which leaves you with an empty account.

Best Forex Brokers Belgium: Deposit Withdrawal

The withdrawal process is exactly that, withdrawing your money after placing an order with the broker. When you make a deposit, some Belgian forex brokers will allow you to withdraw the deposit from your account immediately, and others will allow you to withdraw the money when you want. If you want to withdraw your deposit as soon as it arrives in your account, please bear in mind that this takes time.

Best Online Broker Belgium: Withdrawal Fees

This is referred to as a withdrawal fee and refers to money taken out of your account during the withdrawal process. Some brokers have high fees while others have very low ones, and it’s important that you be aware of this fact when choosing a forex broker in Belgium.

How Can I Trade Forex in Belgium? 

Forex trading can be done from anywhere in the world, as long as you have an internet connection. This makes it possible to trade from Belgium. However, due to the fact that forex trading Belgium is a high-risk investment, you should always do your own research before getting started. There are a number of online resources that can help you get started. But, first of all, you will need Belgian forex brokers to get started. You can also find detailed information about brokers and platforms on different forums or Reddit, or on social media.

When choosing a broker, it is important to consider the different factors we have mentioned earlier in this article. However, if you just want to pick a reliable broker, this article has added a Belgium forex brokers list, which can work as your broker finder tool. But if you wish to check on your own, you should check to ensure that a reputable authority regulates the broker. Hence, we recommend you choose from the regulated forex brokers in Belgium. It is also good to demo trade with a particular broker before opening an account. This will help you to make sure that the broker’s platform and features are suitable for your trading style.

So, to start trading, you first have to open an account with a broker. Then, you have to deposit your funds either through bank transfer or through your credit card. Once the funds are available on your account, you can then place trades using the leverage that is provided by your brokerage house. You can also open up multiple trading accounts, which will allow for diversification of risk and provide more opportunities for profit-making activity.

Final Words

When it comes to trading forex in Belgium, there are a number of reputable brokers to choose from. Brokers are typically regulated by the Financial Services and Markets Authority (FSMA), so it is important to check that his authority authorizes the broker you choose. You can find a forex brokers list in Belgium on the FSMA website.

Most Belgian brokers offer a variety of forex trading platforms, including web-based, desktop versions and mobile trading platform. It is important to find a platform that is suitable for your trading style, and that offers all the features you need. You should also make sure that the broker has a good reputation for customer service. However, if you think these are confusing, you can just check our Belgium forex brokers list.

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