Best Online Forex Brokers in Belgium
The Best Forex Broker in Belgium - Tickmill
Best Forex Brokers in Belgium:
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Tickmill - swap-free account; ultra-low spreads; cent account
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Admiral Market - 5,000+ trading assets; narrow spreads; low initial deposit
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RoboForex - low commission; narrow spread; 12000+ trading instruments
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IC Market - different order types; quick order matching; zero deposit and inactivity fees
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FxPro - negative balance protection; moderate spreads; segregated account
Potential Forex traders in Belgium can trade currency pairs with a duly regulated local or international broker, as Forex trading is legal. Traders need the best Forex brokers in Belgium to profit when trading currency pairs. The ease with which you can trade Forex and connect to your current bank account depends on the broker you select.
The best Forex Brokers in Belgium offer traders looking for investment opportunities the best Forex services. They provide a trading environment that's appropriate for both newbies and professional traders.
The best brokers for Forex trading in Belgium compared
The trader should check each broker's regulatory status and available Forex trading options, among other things. Check out the supported markets, trading platforms, fees associated with Forex trading, leverage, spreads, etc. Below is a table where the best online Forex brokers are compared.
| Position | Rating score | Trading Firm | Minimum Deposit | Regulation | Bonus for deposit | Open an account | Add to comparison |
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Minimum Deposit: $100 | Regulation: FSA, LFSA, FSCA, CySEC, FCA | Bonus for deposit: 30% |
Open an Account
STUDY REVIEW
Your capital is at risk.
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Minimum Deposit: from 25/100/250 USD | Regulation: FCA, CySEC, ASIC, JSC, CIPC | Bonus for deposit: 100% |
Open an Account
STUDY REVIEW
Your capital is at risk.
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Minimum Deposit: $10 | Regulation: IFSC | Bonus for deposit: 120% |
Open an Account
STUDY REVIEW
Your capital is at risk.
58.42% of retail investor accounts lose money when trading CFDs with this provider. |
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Minimum Deposit: $200 | Regulation: SFSA, ASIC, CySEC | Bonus for deposit: 0% |
Open an Account
STUDY REVIEW
Your capital is at risk.
75.93% of retail investor accounts lose money when trading CFDs with this provider. |
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Minimum Deposit: 100$ | Regulation: FCA, CYSEC, FSCA, SCB | Bonus for deposit: 0% |
Open an Account
STUDY REVIEW
Your capital is at risk.
79.27% of retail investor accounts lose money when trading CFDs with this provider. |
Tickmill
The next broker on the list of the best Forex brokers in Belgium is Tickmill, and they are known to provide ultra-low Forex trading fees. This broker is reputable and worthwhile, and it offers trading fees that are very competitive with those of major currency pairs. This broker is among the best online Forex brokers, having received a trust score of 4.8 out of 5.
The company supports euro pairs like EUR/USD and EUR/JPY and offers CFD trading on 62 currency pairs and other financial instruments. Traders can trade CFD currencies, stocks, commodities, indices, bonds, options, metals, and more with high leverage. But this leverage stays within the 1:30 limit set for European countries. Tickmill is an excellent broker for seasoned traders and newcomers; it is satisfactory for robotic trading.
Extra features
Euro pairs support: Yes
Advanced copy trading platform: Yes
Minimum deposit: $100
Free VPS server: Yes
Trading platforms: MT4, MT5, Tickmill Mobile App
Leverages: 1:30
Spread:
- 1.6 pips for the Classic account
- 0 pips for the Pro and VIP accounts
Demo accounts: Yes
Instruments:
- Currency pairs
- Stocks
- Commodities market assets
- Bonds
- Cryptocurrencies
- and stock indices
👍 Pros
•Tickmill offers more trading pairs than the majority of other Forex brokers
•Tickmill offers an Islamic Swap-Free account
•Ultra-low spreads and fast execution
•Protection against negative balance
👎 Cons
•Customer service is only available from 7:00 to 16:00 GMT, five days a week. And there is no cent account
Admiral Markets
Admiral Markets is another reliable Forex broker with which Belgium traders can trade currency pairs smoothly. They are well known for providing traders access to several trading products in many markets, making them one of the best Forex brokers in Belgium. Traders can trade CFDs on different assets, including cryptocurrencies, stocks, indices, metals, etc.
They are trustworthy international online brokers that support the MT4 and MT5 platforms. Admirals offers traders four live accounts with exceptional trading conditions and a VPS service for clients who deposit more than 5,000 EUR.
Extra features
EUR pairs support: Yes
Regulators: ASIC, JSC, CIPC, FCA, and CySEC
Advanced copy trading platform: Yes
Minimum deposit: $1 - $250
Free VPS server: Yes
Trading platforms: MT4, MT5, WebTrader, MetaTrader Supreme Edition
Leverages: 1:10-1:30
Spread: From 0-0.5 pips
Demo accounts: Yes
Instruments:
- CFDs on ETFs and currency pairs
- Commodities
- Stocks
- Indices
- Cryptocurrencies
- Bonds
👍 Pros
•Admiral Markets, a reputable broker, offers traders the top trading tools and software
•Over 5,000 different trading assets are available, including exchange-traded stocks
•The spreads on the majority of assets are relatively narrow
•Low initial deposit
👎 Cons
•They charge an inactivity fee and withdrawal fee
RoboForex
RoboForex is licensed and reputable Forex broker, and it is well known for its low minimum deposit requirements, narrow spreads, and reasonable trading costs. RoboForex additionally supports EUR pairs like EUR/USD and EUR/GBP.
It provides traders with a first-rate educational resource and a practice account that allows them to practice Forex trading before engaging in real-money trading. And this is executed on a sophisticated trading platform with the best trading interface. This and many more reasons make them one of the best Forex brokers for beginners.
Extra features
Euro pairs support: Yes
Copy trading platform: Yes
Minimum deposit: $10
Free VPS server: Yes
Trading platforms: MT4, MT5, cTrader, R StocksTrader, R MobileTrader, and R WebTrader
Leverage: 1:30
Spread: Floating from 0 pips
Demo accounts: Yes
Instruments:
- Forex (currency pairs)
- Index CFDs
- ETFs
- Cryptocurrency CFDs
- Oil CFDs
- Real securities
- CFD on European and U.S. stocks
👍 Pros
•Low commissions and narrow spreads
•A low minimum deposit requirement and immediate cash withdrawals
•12000+ trading options
•RoboForex provides investors with a demo and an Islamic account
👎 Cons
•There are no cryptocurrency trading tools on the R StocksTrader platform
IC Markets
IC Market is also on the list of the best Forex brokers for beginner and expert traders in Belgium. This broker offers many different order types, detachable charts, quick order matching, high liquidity, and small spreads. Traders use top-notch educational resources and several instruments. Webinars, video tutorials, and straightforward commission-free trading are all available to beginners.
Professional traders can benefit from the robust MetaTrader 4, MetaTrader 5, cTrader, VPS hosting platforms, and Raw Spread trading accounts. The average EUR/USD spread for the Raw Spread account is around 0.1 pips, making it one of the accounts with the lowest spreads available. IC Markets is a fantastic choice for those looking for the best Forex brokers in Belgium due to its market depth and low execution latency.
Extra features
Eur pairs support: Yes
Regulators: CySEC, SFSA, and ASIC
Advanced copy trading platform: Yes
Minimum deposit: $200
Free VPS server: Yes
Trading platforms: MT4, MT5, cTrader
Leverages: from 1:1 to 1:30
Spread:
- 0.6 pips for the Standard account
- 0.0 pips for cTrader and Raw Spread accounts
Demo accounts: Yes
Instruments:
- 60+ currency pairs
- 2,100+ stocks
- CFDs on futures
- Indices
- Bonds
- Commodities
- Metals
- Cryptocurrencies
👍 Pros
•Low non-trading fee
•Zero deposit and inactivity fees
•There are no charges to withdraw using credit/debit cards, digital wallets, or international bank transfers
•IC Markets is a trustworthy broker for investors using the MetaTrader and cTrader platforms to implement automated trading strategies
👎 Cons
•There are no extra rewards or competitions for traders
FxPro
Given what FxPro brings to the trading environment, traders comparing the best Forex brokers in Belgium can rely on FxPro. The excellent trading services provided make it stand out on the list of the best Forex brokers. This broker integrates the most cutting-edge trading technology, which combines the speed of a high-performing trading platform with the efficiency of a trader.
FxPro offers CFDs on five additional asset classes in addition to currency pairs. They adhere to all EU regulatory requirements and provide negative balance protection for client accounts.
Extra features
Regulators: FSCA, SCB, FCA, and CYSEC
Advanced copy trading platform: Yes
Minimum deposit: $100
Free VPS server: Yes
Trading platforms:cTrader, MetaTrader, MetaTrader 5, and FxPro Edge
Leverages: Up to 1:30
Demo accounts: Yes
Instruments:
- Currencies
- Metals
- Energies
- Stocks
- Futures
- Cryptocurrencies
- Indices
👍 Pros
•Spreads on FxPro trading platforms are moderate
•Free services for VIP clients and segregated account options
•Numerous options for deposits and withdrawals
•Free analytics, news, Forex calculator, and calendar features with a limited spread
👎 Cons
•The only products FxPro offers are CFDs and Forex
Rules and Regulation
Forex regulation in Belgium
In Belgium, the main regulatory body is the National Bank of Belgium, the country's central bank. The National Bank of Belgium controls financial activities, including foreign exchange transactions. It formulates monetary policies, manages currency issuance, and regulates foreign exchange reserves to ensure stability in the Forex market.
To obtain a license to operate in the Forex market of Belgium, companies must meet specific requirements:
- Licensing. Firms are required to obtain a license from the Financial Services and Markets Authority (FSMA) to conduct legal Forex activities in Belgium.
- Capital requirements. Minimum capital thresholds are set by regulatory authorities to ensure financial stability and mitigate risks associated with Forex trading.
- Compliance standards. Firms must adhere to strict compliance standards, including Anti-Money Laundering (AML) and Know Your Client (KYC) regulations, to prevent financial crimes and ensure the integrity of transactions.
- Submission of a business plan. Detailed business plans must be submitted to regulatory authorities for review to ensure transparency and compliance with regulations.
- Registration. Mandatory registration with FSMA to ensure accountability and regulatory oversight is required.
Investor Protection in Belgium
Several entities in Belgium protect Forex investors and maintain market integrity, namely:
- National Bank of Belgium. It ensures compliance with regulations to protect investor interests and maintain market stability.
- Financial Services and Markets Authority (FSMA). It regulates and supervises Forex trading activities, ensuring fair trading practices and market transparency.
- Belgian Financial Intelligence Processing Unit (CTIF-CFI). It detects and prevents money laundering and terrorist financing activities in the Forex market to protect investors and maintain the integrity of the financial system.
- Investor Protection and Information Center (CIFA). It provides education, support, and assistance to investors, ensuring awareness and responsible investment practices.
These organizations ensure compliance with regulations, monitor market activities, fight with fraudulent schemes, and provide education and support to Forex investors in Belgium.
Forex Taxation in Belgium
Taxation of Forex transactions in Belgium is governed by the FPS Finance (the Federal Public Service of Belgium). Income generated from Forex trading is subject to taxation under the Belgian tax code.
How do you choose the best Forex broker in Belgium?
Choosing the best Forex broker in Belgium necessitates following some best practices. And these are factors you should look out for or verify about Forex Brokers in Belgium.
The most important factors to consider when choosing the best Forex broker are local regulations, commission costs, and order execution speed. The initial deposit sum, the type of account, and the available payment methods are inclusive.
1. Local regulation
Checking a broker's regulatory status and the organization in charge of overseeing its financial operations is essential. In fact, this should be the first point on the to-do list of those seeking the best Forex brokers in Belgium.
2. Commissions and trading fees
The cost structure of each Forex broker impacts trading expenses and, in turn, profit, and loss. Investors should become familiar with the commissions available for trading currency pairs through a Forex broker.
Some brokers have a special offer for shorter- or longer-term traders, and some integrate better asset classes than others. So it is crucial to carefully review the spreads, commissions, and overnight fees because these fees vary between some brokers.
3. Order execution speed
Learn how long it typically takes for a transaction to complete on the broker's platform. This is the time between the broker receiving your order and carrying it out; it should be less than 0.1 seconds (or 100 milliseconds).
4. Minimum deposit
Learning about the minimum deposit should even come immediately after confirming the broker's regulatory status. Knowing the minimum deposit requirement in advance helps you avoid wasting time researching a broker for which you are unlikely to have the necessary funds to enable trading on its platform.
5. Payment options
Check each Belgium-based Forex broker's available payment methods. Although many of these brokers provide more payment options than others, you should pick the top Forex broker that accepts payments in Belgium.
6. Account types
To accommodate all types of traders in Belgium, the best Forex brokers provide several Forex trading accounts. Each account type is suited for a particular trader with a custom trading strategy. Also, the minimum deposit, leverage limits, and available trading assets vary depending on the account type. So it is critical that traders research the types of accounts available on each Forex broker's platform. Verify that the broker's account fits your trading preferences and financial capacity.
7. Trading platforms
The best Forex brokers in Belgium integrate 3 to 5 trading platforms, with MT4, MT5, and cTrader among the popular options. The best option for Forex traders continues to be the MT4 trading platform, which fully supports algorithmic and copy trading and comes with more than 25,000 EAs, plugins, and custom indicators. But with cTrader and MT5 offering advanced features, ensuring the broker integrates these platforms is crucial.
8. Customer support
Examine the methods of contact for the best Forex broker in Belgium. A phone number, live chat, and multilingual customer support team are necessary for high-quality customer service.
9. Selection of assets
Additionally, if your trading strategy calls for specific asset classes, you should be aware of what each broker offers. Find out how many currency pairs or other instruments the broker offers. For traders who need to be highly diversified across asset classes, brokers with a large selection of assets are preferable.
What is the best time to trade Forex in Belgium?
The Forex market is available to traders from 22:00 GMT on Sunday through 22:00 GMT on Friday. Understanding the Forex sessions is important when deciding when is the best time to trade Forex with any of the best Forex brokers in Belgium.
In the Forex market, there are four main trading sessions
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Sydney Session (06:00–14:00 GMT+8)
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Tokyo Session (08:00–16:00 GMT+8)
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London Session (16:00–00:00 GMT+8)
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New York Session (21:00–05:00 GMT+8)
Although the London and New York trading sessions appear to be the most popular, the best time to trade is when these two Forex sessions overlap. Experts concur that times of high volatility are the most advantageous for trading Forex. Currency exchange rates are swift at this time; large lots are bought and sold, and the market is crowded with active traders.
High trading volume and volatility make the period when London and New York overlap the best time to trade Forex in Belgium. And this occurs from 13:00 GMT to 16:00 GMT( 21:00 to 00:00 GMT+8).
According to reports, the overlap has the highest trading activity and presents Belgian investors with the most favorable investment opportunities. And according to the TU survey, trading during the London and New York overlap on these days is the best time to trade currency pairs.
The best Forex pairs for Belgian clients
The most profitable currency pairs to trade are those that have large spreads; the majority are major currency pairs (EUR/USD, USD/JPY, GBP/USD, and USD/CHF). Major pairs are the most popular and widely traded pairs. They are the largest in terms of volume traded per day and liquidity.
The best Forex pairs for traders in Belgium include:
What are the best Forex brokers for beginners in Belgium?
The best Forex brokers for beginners are those whose services are well laid out to help new traders start their trading careers comfortably. These are brokers with low minimum deposits, special accounts (demo, cent), passive income options - copy trading), PAMM accounts, and good educational materials.
Tickmill
Tickmill is another top Forex broker for beginners, offering new traders services that make Forex trading simpler and more profitable. Additionally, they offer traders top-notch educational resources, low fees, a clear fee report, and customizability for charts and workspace. And the account opening process is straightforward.
This broker provides free demo accounts to help users learn the art of trading currency pairs more quickly. The option of opening a cent account is also available to traders once they are ready to trade on a real account. With this account type, traders can transact in cents, so if they deposit $10, their account balance will be $1. Trading on the cent account is low-risk. As a result, it is a fantastic option for those new to Forex.
RoboForex
RoboForex is a top contender among the best Forex brokers for beginners in Belgium. They provide traders with a low minimum deposit requirement of $10,
a copy trading service, a practice account, and top educational materials. Again, RoboForex has flexible trading account types, top-notch trading indicators, and favorable trading terms.
Their straightforward and user-friendly trading platform has helped them become one of the best Forex brokers in Belgium.
IC Markets
With a fantastic web and mobile trading platform, IC Market is among the best Forex brokers for beginners. This broker has excellent learning resources, helpful customer support, and a simple account opening procedure. The fees at IC Markets are extremely low, and there are no commission fees for deposits or withdrawals.
With IC Markets' demo account option, novice traders can practice trading without having to risk any of their real money. Again, the PAMM and copy trading accounts on IC Markets enable traders to make money from Forex trading regardless of their prior trading knowledge.
FAQs
What is the safest Forex broker?
Locally regulated Forex brokers with deposit insurance, competitive spreads, and no withdrawal fees or commissions are the safest. These traders integrate numerous currency pairs, superior charting features, a demo account, and adaptable customer service.
How to trade Forex in Belgium?
First, you need to sign up with a regulated local or international broker, deposit into your real account, create a trading strategy, choose the currency pair to trade, and open your first position. But ensure to practice Forex trading on the demo account to master the broker's trading platform and trading skills.
Is Forex trading safe in Belgium?
Yes. Forex trading is safe in Belgium, but traders must trade currency pairs with only regulated brokers.
Do I pay taxes for Forex trading?
Yes. Forex trading is taxed as an income or capital gain. Most nations classify Forex tax on profits from the sale or other disposition of currencies (short-term or long-term) with an increased value as capital gains tax.
Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).