Widely known in Europe, Trading 212 has attracted the attention of many Belgian investors, offering interest on uninvested cash, a slick and modern app, no commission on stocks and ETFs (other fees may apply, see terms and fees) and a promo code offer for new clients.
Want to know if Trading 212 is available in Belgium, why Belgium is treated differently from every other EU country, and which alternatives Belgian investors can actually use? We’ve got you covered.
Is Trading 212 available in Belgium? 🇧🇪
No. As of October 2026, Trading 212 does not onboard new clients resident in Belgium.
The platform is widely used across the rest of Europe, which makes this look arbitrary, and Belgium is in fact the only EU country where Trading 212 blocks registrations. Some Belgian residents who opened accounts before the block still hold them, but new sign-ups are not accepted.
The company has acknowledged the situation and keeps an open waiting list for Belgian investors, though it has not published a date or committed to opening.
Why is Belgium treated differently?
Trading 212 has not published a detailed explanation, but the Belgian regulatory and tax environment is unusual in ways that make the country awkward for app-based brokers.
Four features stand out:
- The 2016 ban on leveraged retail products: a regulation of the FSMA (Financial Services and Markets Authority) restricts the distribution of leveraged derivatives and binary options to Belgian retail clients. For brokers that also run leveraged product lines, that removes part of the business in a single market.
- Local tax obligations at the broker level: Belgium levies a stock exchange tax (taxe sur les opérations de bourse, or TOB) on every transaction, and Belgian investors generally expect their broker to withhold and remit it. Foreign brokers without a Belgian branch rarely do, which shifts the paperwork onto the client and makes the product less attractive locally.
- The new capital gains tax: since 1 January 2026, Belgium taxes realised gains on financial assets at 10%. Belgian intermediaries have had to withhold it by default since 1 June 2026, another local process a foreign broker would need to build.
- Reporting requirements: Belgian residents must declare foreign securities accounts to the Central Point of Contact at the National Bank of Belgium and on their annual tax return, adding friction that does not exist in most neighbouring countries.
None of this makes serving Belgium impossible, and plenty of brokers do. It does mean the market needs dedicated work for a comparatively small number of clients, which is the likeliest reason it keeps ending up at the back of the queue.
Trading 212 alternatives in Belgium
- Interactive Brokers: best overall
- Saxo: best for experienced investors
- Lightyear: best for beginners and interest
One thing to weigh before choosing, since it is specific to Belgium: of these three, only Saxo handles the Belgian taxes for you. Through its Belgian branch it withholds the TOB and, by default, the new 10% capital gains tax. With Interactive Brokers and Lightyear you declare and pay both yourself. Belgian platforms such as Bolero, run by KBC, also handle them automatically, usually at a higher cost per trade, so the trade-off is admin against fees.
| TOB withheld | Capital gains tax withheld | Account declaration to the NBB needed | |
| Interactive Brokers | No | No | Yes |
| Saxo | Yes | Yes (opt-out possible) | No (Belgian branch) |
| Lightyear | No | No | Yes |
Tax handling for Belgian residents, October 2026. Check with each broker before opening an account.
62% of retail CFD accounts lose money.
Terms apply, seek guidance if necessary. When you invest, your capital is at risk.
What a Belgian investor should check before opening a foreign account
Whichever broker you pick, these obligations follow you rather than the platform:
- TOB (taxe sur les opérations de bourse): a transaction tax on purchases and sales, at 0.12%, 0.35% or 1.32% depending on the instrument, with a cap per transaction (see the table below). If your broker does not withhold it, you declare and pay it yourself by the last working day of the second month after the trade.
- Capital gains tax: since 1 January 2026, realised gains on stocks, ETFs, bonds and other financial assets are taxed at 10%, with an annual exemption of €10,000 per person (indexed). For assets bought before 2026, the gain is generally measured from their value on 31 December 2025. Foreign brokers do not withhold it, so you declare it in your annual tax return.
- Reynders tax: a 30% tax applies to the bond-related gain when you sell funds or ETFs that hold more than 10% in bonds. It is a common surprise for investors who assumed only dividends were taxed.
- Withholding on dividends: Belgian withholding of 30% applies to dividend income, with a partial exemption available on a first tranche of dividends via your annual return.
- Account declaration: foreign securities accounts must be reported to the Central Point of Contact at the National Bank of Belgium and mentioned in your tax return.
- Securities account tax: an annual tax applies to securities accounts with an average value above €1 million, foreign accounts included.
None of this makes a foreign broker a bad choice, and many Belgian investors use one happily. It does mean the cheapest platform on paper is not automatically the cheapest in practice, and it is worth speaking to an accountant if the amounts are meaningful. Rates and thresholds change, so confirm the current position on the FPS Finance site before acting.
| Instrument | TOB rate | Maximum per transaction |
| Stocks | 0.35% | €1,600 |
| ETFs registered in the EEA (outside Belgium) | 0.12% | €1,300 |
| ETFs registered outside the EEA | 0.35% | €1,600 |
| Accumulating ETFs registered in Belgium | 1.32% | €4,000 |
| Distributing ETFs registered in Belgium | 0.12% | €1,300 |
Main TOB rates for Belgian investors in 2026. Source: FPS Finance.
Conclusion
If you want to open a Trading 212 account from Belgium, you are out of luck for now. Joining the waiting list costs nothing, but there is no published timeline, so we would not plan around it.
The good news is that Belgian investors are not short of options. Interactive Brokers gives you the widest market access, Saxo suits more experienced investors and is the only one of the three that handles the TOB and the capital gains tax for you, and Lightyear is the closest in spirit to what draws people to Trading 212 in the first place. If handling Belgian taxes yourself is a dealbreaker, Saxo or a domestic platform is worth a look.
Explore their sites and decide for yourself. If you haven’t found a match, you can still look at our comparison of online brokers available by country.
Risk disclaimer: when investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results. This article is information only and is not investment or tax advice.
