5 Best Online Forex Brokers in Belgium – In Depth Review 2022
The best forex brokers in Belgium have an online presence, and they target the different smaller traders to operate within forex markets on a single or margin basis.
Many brokers also include helpful educational and research tools to provide beginners an enhanced knowledge about the trading process.
These brokers provide additional access to experts and market analysis to aid you in choosing beneficial trading options. Selecting the most reliable broker as a redient in Belgium is a complex process. You are especially getting those who accept the Belgian traders and enable you to invest in Belgium dollars. It’s okay, and you aren’t alone.
Therefore, a forex trader can start quickly by opening an account and downloading free trading options such as MetaTrader. Here we have mentioned top-quality forex brokers to choose the one that suits you completely. Let’s discuss the brokers in detail!
Table of Contents
Best Online Forex Brokers in Belgium
5 Best Online Forex Brokers in Belgium
#1. Best Advanced for Non-US Traders: Avatrade
AvaTrade is an Irish-based online forex broker that offers over 1200 tradable assets on its trading platform. The brokerage firm has become a huge player in the forex market and continues to accept applications for traders all over the world, including those in Belgium.
AvaTrade is regulated by top-tier agencies including the US Securities and Exchange Commission, the Cyprus Securities and Exchange Commission CYSEC, and even the Financial Conduct Authority FCA. The broker is also allowed by local Belgium regulators to offer brokerage services in the state. This makes it a relatively safe place to begin trading forex.
The broker also offers state-of-the-art trading platforms. In addition to the popular MT4 and MT5 trading platforms, users also get access to AvaTrade’s proprietary trading software that feels so easy to use and quite intuitive as well. There is also a reliable team of customer support reps here, some of the lowest trading fees in the market, and a wide range of educational materials to help you profit from the forex market.
How does it work?
As one of the best forex brokers in Belgium, AvaTrade has done well to make sure that your trading experience is as fulfilling as possible. So, in case you’d like to try out this firm, then you will need to follow just a few simple steps. For starters, you must get any of the trading accounts offered here. It takes just a few minutes to do this. Simply key in your basic personal info and after that, upload verification documents and wait for a few hours.
If indeed there is nothing wrong with your documents, then you will get approved for an AvaTrade account in no time. The next step would be to deposit some money. There are several deposit options for Belgian traders including a credit card, debit card, and bank transfer. In most cases, the deposit reflects after three business days at most. Some deposit methods may offer faster processes.
The third step is to pick a platform you’d like. There are several trading platforms here but as a rule of thumb, always choose trading platforms that feel easy to use for you. Go ahead now and download the mobile trading app on your phone. This would be very important for folks who trade on the go. Once the app is installed on your phone, you can now log in, pick the assets you want to buy or sell, and start earning decent returns. However, in case you run into any issues, contact customer support right away.
Pros
- Fast and effortless account opening
- Different withdrawal and deposit issues
- Excellent research tools
- Effective and reliable functioning
Cons
- Incredible inactivity fees
- Average forex fees
Price
AvaTrade uses a spread-based system to charge commissions for its forex services. Commissions start as low as 0.9 pips on the EUR/USD pair but can range a lot depending on the type of assets you are buying and the trade volume.
For example, in case you would like to try the high-volume professional VIP account offered by the broker, the fees charged will be considerably low, sometimes as low as 0.6 pips on the EUR/USD pair.
Please also note that a minimum deposit of $100 will be needed to access the services of this forex broker. With everything considered, there is no doubt AvaTrade charges below average commissions compared to the industry average.
#2. Best Intermediate for Non-US Traders: FXCC
If you are looking for the best forex brokers when it comes to trade execution and speed, then FXCC has to be your first choice. The brokerage also comes with easy-to-use trading platforms, making it a great choice for intermediate forex traders. You also get very low fees with spreads starting from as low as o.1 pips.
FXCC also has a superb variety of tradable assets including metals, commodities, currency pairs, and stock. As for folks who would love to trade with leverage, FXCC offers 1:300, one of the highest in the industry. There is also a dedicated team of customer support reps standing by to help you with anything and in-depth educational materials to help you get started with trading forex.
FXCC is also regulated by tier 1 bodies in various jurisdictions, including the Cyprus Securities and Exchange Commission Cysec and ASIC in Australia. For these reasons, the broker makes it to the list of the best firms to work within forex trading.
How does it work?
In case you would love to use FXCC to buy and sell a wide range of assets, then you need to head over to their website and create an account. Only a small amount of personal info is needed here. You can also sign up with Facebook or Google if you so wish. FXCC will also ask you a few questions about your trading experience before they hand you an account.
Once this is done, your account will be screened and verified based on the documents you provide. You can now start trading forex and other assets. Please note that the min deposit at FXCC is $100. You also get a various deposit and withdrawal options in Belgium for some flexibility. Once your deposit is in, choose a trading platform and start investing.
Pros
- 100% first deposit
- Free Virtual Private Server
- Includes MetaTrader 4 platform
- high leverage trading
Cons
- It does not have U.S. based traders
- Lacks different trading platforms
Price
FXCC offers some of the lowest trading fees of any forex broker. There are even some trading accounts that come with commissions free trading on several supported assets. FXCC offers low spreads, starting from as low as 0.1 pips depending on trade volume, liquidity, and type of asset.
The EUR/USD currency pair is the most liquid and has massive trade volumes. Here, you are likely to pay close to zero fees. The fees charged by the firm are below the industry average, making it a great choice for high-volume active traders.
#3. Best Overall Broker: Forex.com
Forex.com is one of the most recognizable names in forex brokerage services. This firm has been doing this for years now and has earned the trust of many users, and the reputation of being one of the best forex brokers in the world. As you would expect from such a highly rated firm, Forex.com is regulated and audited by the Financial Conduct Authority FCA, the Security and Exchange Commission, and the Cyprus Securities and Exchange Commission CYSEC.
In addition to this, the parent company that owns Forex.com is listed in the US on the NASDAQ exchange. All these factors simply mean that the forex broker can be trusted in the long run. There are also a few other things to look forward to when you open forex trading accounts with this provider.
First, you get a multi-platform approach to your forex trading. In addition to its proprietary trading software, there are also the MT4 and the MT5 platforms to choose from. Forex.com has also built a team of dedicated customer support reps standing by to help you with anything. You also get low trading fees, over 4500 assets to buy and sell, mobile and desktop trading, and a host of other innovative trading and risk management tools.
How does it work?
Well, Forex.com is built to cater to beginners. This makes it such an easy-to-use broker. There are a few steps to follow through in your efforts to unlock the power of Forex.com in getting into the forex trading market. As with any other broker, you need trading accounts opened and funded before you get started.
Lucky for you, Forex.com has very limited screening for Belgium traders. You should be able to fill in the required info in a few minutes and get the account verified within an hour or so. Only an identification card or passport and proof of address are needed to verify the account.
Belgium forex traders also get various deposit options to fund their accounts. As a trader, always pick the option that feels more secure and faster for you. Now that your account is open and fully funded, the final step would be to choose a trader platform. There are of course the two meta trader platforms the M4 and M5. But they can be quite intimidating for a new trader.
In that case, once your deposit is in, consider using the proprietary software offered by Forex.com. It’s much easier to use and feels like the best out there for all traders. Please also note that Forex.com offers traders in-depth research and trade signals on various assets. This info can be invaluable in helping you make wise investment decisions so make sure you pay attention to it.
Pros
- A wide variety of products
- TradingView charts
- Ideal for high-volume traders
- User-friendly and reliable
Cons
- No guaranteed for Belgian clients
- Lacks effective website maintenance
Price
The spreads vary depending upon the client that, which kind of account they choose. For instance, one pip is the least EUR/USD spread for clients from Belgium on a ‘standard’ account. On the other hand, ‘STP Pro’ and ‘commission’ will show you spreads of 0.1 and 0.2.
Although the two that are latter have 50 dollars and 60 dollars per million commissions added to displayed spreads, the regions are not in Belgium. It provides Direct Market Access accounts for bigger account sizes like 25000+. The DMA account does not charge any commission but offers markup on spreads.
#4. Best for International Forex Traders: eToro
eToro is a brokerage company widely known for its social and copy trading. It is an Israeli financial services company based in Tel Aviv-Yafo, Israel, and it has offices in Cyprus, the United Kingdom, the United States, and Australia. It is often tagged as eToro USA LLC in the US. It currently operates in over 120 countries and has over 10 million registered users. It offers CFDs, cryptocurrencies, stocks, ETFs, and forex offerings.
The main point of your experience with eToro is the ease it provides to complete tasks and carry out basic operations. The more instruments include searching the market available, making watchlists, and directly placing trades from the watchlist.
How does it work?
EToro platform features investors who like to follow risk-control rules and want to be duplicated. The retail account holders are accessible to mimic trading strategies and trades of many successful customers in real-time and automatically.
Note that the copy trading in and itself does not hold a guarantee of losses either gains. This platform is a little pricier concerning its competitors for trading Forex and CFDs. Although the recent introduction of zero-dollars commission and cutting spreads for Belgium’s trading stock is beneficial.
All the investors on the eToro are trading manually. EToro does not permit completely trading systems like those supported by M.T. Thus, when you copy trade the Etoro, it is guaranteed that every placed trade is manual.
Pros
- 15 cryptocurrencies options
- Easy-to-use website
- Great community for traders
Cons
- Broad Spreads for trading cryptocurrencies
- $25 minimum deposit
Price
The clients in Belgium who trade cryptocurrencies have to pay 0.75 percent to 5.0 percent; this depends upon which currency you trade. In contrast, customers out of Belgium don’t have to pay any commission to close or open a long position. Small sales invite 0.18 percent commission of the trade value.
Belgian clients are not charged for withdrawal of funds, except you should have a minimum withdrawal of 30 dollars. The withdrawal fee for non-Belgium customers is 5 dollars.