It is definitely a challenge to find the best Forex brokers in Belgium, especially since several well-known international brokers do not accept Belgian customers. But don’t worry, our experts researched different Forex brokers in Belgium and came out with a list intended to provide you with some guidance. We evaluated their services and all the features they offer such as currency pairs available, spreads, fees, trading platforms, and regulations.
So whether you’re new to the Forex market and want to get started, or an experienced Forex trader looking for a new platform, this guide will help you compare the best Forex brokers in Belgium.
Let’s go directly to the list of the best Forex brokers in Belgium:
Best Forex Brokers in Belgium
- Interactive Brokers: Best overall: the widest range of currency pair offerings and advanced tools.
- Fusion Markets: Best for lowest Forex spreads.
- Saxo Bank: Best for great customer service and user-friendly platform.
- IG: Best for educational and research materials.
- CMC Markets: Best for low Forex fees and free deposits and withdrawals.
Let’s take a closer look at the key characteristics before delving thoroughly into each broker’s services.
Forex Brokers to avoid ❌
Prioritize safety: safe beats cheap! Remember that investing is a long-term game, so it’s best to choose a provider that you can trust as years go by. Make sure that it is allowed to operate in your country.
Check our list of investment platforms, and filter by “Not approved” to check the list of platforms that we do not recommend.
If you’re still unsure about a specific platform, feel free to reach out to us – we’re happy to help!
Comparison of the Top Forex Brokers in Belgium
Broker | IBKR | Fusion Markets | Saxo Bank | IG | CMC Markets |
Number of currency pairs | 100+ | 75+ | 190+ | 80+ | 330+ |
Maximum leverage | 1:30 | 1:30 | 1:30 | 1:30 | 1:30 |
Minimum deposit | €0 | €/$0 | €0 | No minimum deposit for bank transfer; €300 for debit/credit card, or PayPal | €0 |
Spreads starting at
(pips)* |
0.1 (subject to commission) | 0.0 (subject to commission) | 0.6 (VIP account) | 0.6 | 0.7 |
Deposit method | Bank transfer | Visa, MasterCard (credit & debit), PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Cryptos or bank wire. | Bank transfer, credit/debit cards | Bank transfer, credit/debit cards, PayPal | Bank transfer, credit/debit cards, PayPal |
Withdrawal fees | 1 free withdrawal per month | €/$0 | €0 | €0 | €0 |
*The above spreads are mentioned as presented on the broker’s website.
You can check below the spreads of those brokers on the most used currency pairs.
Spread comparison
Currency | IBKR | Fusion Markets | Saxo Bank | IG | CMC Markets |
EUR/USD | 0.1 | 0.03 | 0.7 | 0.6 | 0.7 |
GBP/USD | 1.5 | 0.14 | 0.8 | 1.5 | 0.9 |
AUD/USD | 0.5 | 0.10 | 0.6 | 0.9 | 0.7 |
USD/JPY | 100 | 0.14 | 0.8 | 160 | 70 |
USD/CAD | 1.0 | 0.11 | 0.9 | 2.1 | 1.3 |
CAD/CHF | 0.5 | 0.41 | 0.6 | 2.5 | 1.4 |
Gold (XAU/USD) | 900 | 1.05 | $10 cents | 3,000 | 3,000 |
Silver (XAG/USD) | 70 | 0.80 | $28 cents | 200 | 250 |
Spreads are in pips (equal to 0.0001).
The spread in forex trading is the difference between the ask price and the bid price on a particular currency pair. Spreads are not fixed. They vary depending on the currency pair, liquidity, and market events. Brokers have the ability to increase or widen the bid-ask spread, which would result in an investor paying more when buying and getting less when selling. Accordingly, it is a key factor in selecting the best forex brokers.
Top Forex brokers in Belgium Reviewed
1# Interactive Brokers
Interactive Brokers at a glance
Founded in 1978, Interactive Brokers is one of the largest international brokers listed on the NASDAQ exchange (Ticker: IBKR) and regulated by many international top-tier regulators. They are at the top of our list of the best Forex brokers in Belgium for their wide range of currency pairs, great research tools and their advanced trading platforms.
There are several account base currencies at Interactive Brokers without any minimum required amount, but the only way to fund them is through a bank wire transfer. They offer one of the tightest spreads on Forex, but you are subject to a tiered commission based on the monthly volume of your trading activity. Below is a sample of the spreads applied to major currency pairs:
Interactive Brokers spreads on major currencies
Currency pair | Spreads in pips |
EUR/USD spread | 0.1 |
GBP/USD spread | 1.5 |
AUD/USD spread | 0.5 |
USD/JPY spread | 100 |
USD/CAD spread | 1 |
CAD/CHF spread | 0.5 |
XAU/USD spread | 900 |
XAG/USD spread | 70 |
In addition to low spreads and margin rates, Interactive Brokers does not charge an inactivity fee, and you are entitled to one free withdrawal per month.
Finally, their trading platform, TWS (desktop version), is one of the best trading platforms with advanced features and a high degree of customisation. Moreover, they offer a web interface, IBKR GlobalTrader, and a mobile app that are also well-designed.
Interactive Brokers trading features
Trading platforms | IB Trader Workstation (TWS), Client Portal (Web-based platform), IBKR Mobile and IBKR GlobalTrader (another mobile app). |
Limit orders | Yes |
Stop loss & take profit orders | Yes |
Negative Balance Protection | Yes |
Guaranteed stop loss | No |
We recommend you check out our comprehensive Interactive Brokers review.
2# Fusion Markets
Fusion Markets at a glance
74-89% of retail CFD accounts lose money.
Founded in 2017, Fusion Markets is a Forex and CFD broker with offices in Australia, Vanuatu and the Seychelles, but it accepts clients from most countries worldwide (exceptions include the US and New Zealand). The broker offers access to 250+ products, including Forex and CFDs on Energy, Precious Metals, Equity Indices, US stocks and Crypto.
On AUD and USD currencies, the commissions offered are $2.25 per side commission, so a standard lot will be $4.50. On the “Zero Account”, spreads start from 0.0 and on the “Classic Account”, the spreads start at 0.9. The main difference between the two is that the latter includes your commissions in each trade. Below is a sample of the spreads applied to major currency pairs:
Fusion Markets spreads on major currencies
Currency pair | Spreads in pips |
EUR/USD spread | 0.03 |
GBP/USD spread | 0.14 |
AUD/USD spread | 0.10 |
USD/JPY spread | 0.14 |
USD/CAD spread | 0.11 |
CAD/CHF spread | 0.41 |
XAU/USD spread | 1.05 |
XAG/USD spread | 0.80 |
In addition to low spreads and margin rates, Interactive Brokers does not charge an inactivity fee, and you are entitled to one free withdrawal per month.
Finally, Fusion Markets offers several investment platforms in desktop, web and mobile apps, namely MetaTrader 4 and 5, and cTrader. All platforms give you customisable charts, fundamental and technical indicators and an intuitive interface. cTrader presents more advanced market depth options like price depth and VWAP depth.
Fusion Markets trading features
Trading platforms | MetaTrader 4 and 5, and cTrader |
Limit orders | Yes |
Stop loss & take profit orders | Yes |
Negative Balance Protection | Yes |
Guaranteed stop loss | No |
We recommend you check out our comprehensive Fusion Markets review.
3# Saxo Bank
Saxo Bank at a glance
62% of retail CFD accounts lose money.
Saxo Bank is a Danish bank with a global presence, offering an online trading platform that gives you access to Forex trading like any other broker. It was established in 1992 and has more than 850,000 clients around the world. Forex spreads at Saxo Bank are relatively low, starting at 0.6 pips for classic accounts, and there are more than 190 currency pairs available for trading. You can open an account with as little as €1 and fund it with a bank wire transfer, a credit card, or a debit card.
Saxo Bank spreads on major currencies
Currency pair | Spreads in pips on classic account |
EUR/USD spread | 0.9 |
GBP/USD spread | 1 |
AUD/USD spread | 0.7 |
USD/JPY spread | 1.1 |
USD/CAD spread | 1.2 |
CAD/CHF spread | 0.7 |
XAU/USD spread | $13 cents |
XAG/USD spread | $33 cents |
The spread depends on the type of account that you choose and the market that you trade on.
Compared to other brokers, Saxo Bank is widely known for its user-friendly trading platform, SaxoTraderGo, which provides fundamental and technical analysis tools, a comprehensive account overview, and an extensive charting package. They also give experienced traders access to SaxoTraderPRO, a more sophisticated trading platform that can be fully customized across six screens.
Saxo Bank trading features
Trading platforms | SaxoTraderGo, SaxoTraderPRO |
Limit orders | Yes |
Stop loss & take profit orders | Yes |
Negative Balance Protection | Yes |
Guaranteed stop loss | No |
4# IG
IG at a glance
70% of retail CFD accounts lose money.
IG is another broker included in our list of the best forex brokers in Belgium. IG Group was founded in 1974, has its headquarters in London, and is listed on the London Stock Exchange. They give you access to trade more than 80 currency pairs, and spreads start at 0.6 pips. It is perfect for both beginners and professional traders. For instance, the IG Academy offers free instructional resources that can help you advance your understanding of financial markets and trading abilities while also providing professional insights through their news and analysis section that keeps you updated on market-moving events.
IG spreads on major currencies
Currency pair | Spreads in pips |
EUR/USD spread | 0.6 |
GBP/USD spread | 1.5 |
AUD/USD spread | 0.9 |
USD/JPY spread | 160 |
USD/CAD spread | 2.1 |
CAD/CHF spread | 2.5 |
XAU/USD spread | 3,000 |
XAG/USD spread | 200 |
The required minimum deposit is €300 if you fund your account by PayPal, a credit card, or a debit card, while there is no minimum deposit for bank transfers. You can trade Forex using the well-known MetaTrader 4 (MT4) trading platform or any of the other trading platforms that are tailored to each user’s trading requirements.
IG trading features
Trading platforms | IG web trading platform, IG mobile trading app, IG progressive web app (PWA), ProRealTime (PRT), MetaTrader 4 (MT4), L2 Dealer. |
Limit orders | Yes |
Stop loss & take profit orders | Yes |
Negative Balance Protection | Yes |
Guaranteed stop loss | Yes |
IG does not charge any fees on deposits and withdrawals, but on the downside, they charge a €14 monthly inactivity fee if your account has been inactive for more than 2 years.
5# CMC Markets
CMC Markets at a glance
69% of retail CFD accounts lose money.
CMC Markets (CMC) is a global CFD and Forex broker that was established in 1989 and is listed on the London stock exchange. It currently serves more than 300,000 clients globally and gives access to over 330 currency pairs.
CMC Markets spreads on major currencies
Currency pair | Spreads in pips |
EUR/USD spread | 0.7 |
GBP/USD spread | 0.9 |
AUD/USD spread | 0.7 |
USD/JPY spread | 70 |
USD/CAD spread | 1.3 |
CAD/CHF spread | 1.4 |
XAU/USD spread | 3,000 |
XAG/USD spread | 250 |
CMC Markets has its own web platform and mobile app available in many languages, which are highly customisable to fit your needs. Alternatively, you can use the well-known MetaTrader 4 (MT4) as well.
CMC Markets trading features
Trading platforms | Next Generation web-platform, MetaTrader 4 (MT4), and CMC Markets mobile application |
Limit orders | Yes |
Stop loss & take profit orders | Yes |
Negative Balance Protection | Yes |
Guaranteed stop loss | Yes |
It is an ideal broker if you want to reduce your fees, as it provides tight spreads and free deposits and withdrawals. Additionally, CMC Markets supports up to 10 account currencies, and you can fund your account by credit or debit card, bank transfer, or PayPal. However, if your account has no trading activity for 12 months, you will be charged a monthly inactivity fee of €10.
What Makes a Good Forex Broker?
Whether you are a beginner or an experienced trader, there are numerous characteristics and features that should be taken into account when choosing a good Forex broker. The following are a few of the most important factors to consider:
- Regulation: This is the most crucial factor because you need to make sure the business is legitimate before depositing your money. As a result, we advise you never to select a broker who is not regulated by a recognized authority;
- Commissions: Although spreads vary depending on the currency pair, good Forex brokers often provide tight spreads and have reasonable commissions;
- Deposit and withdrawal methods: A good broker will make it easy and convenient for users to deposit and withdraw funds by offering several methods, such as wire transfer, debit or credit card, or other electronic payment methods, such as PayPal or Skrill.
Bottom line
It can be difficult and time-consuming to identify the best Forex brokers in Belgium, as many international brokers do not accept Belgian users. However, our analysts performed this task and concluded their findings in this review.
To find out which broker could be ideal for you, you can always use our “Help Me Choose” tool. You can also look at our comparison table for a detailed breakdown of the key features of various global brokers. And for additional details about the products and services each broker provides, you can read our reviews and check our Youtube Channel.
We hope this article saves you some time while researching the best Forex brokers in Belgium. We advise you to conduct your own research to determine which online broker is best for you. Keep in mind that a demo account might be helpful to test the features and practice.
FAQs
Is Forex trading legal in Belgium?
Yes, Forex trading is legal in Belgium.
How to trade Forex in Belgium?
First, you have to open an account with a Forex broker in order to get access to the Forex market. Then, you need to analyse the markets using fundamental or technical analysis, depending on your trading strategy. After that, you can place your trades in line with your analysis.
Is XTB available in Belgium?
Unfortunately, XTB is not available in Belgium. However, we listed several Forex brokers in this article that accept Belgian traders.
Can I trade Forex in Belgium with €10? And €100?
Yes, you can trade Forex with amounts as low as €100 or even €10. We have listed in this article a few brokers that do not require any minimum amount to start trading. But the trade size will be small.