Keytrade Bank

Keytrade's tariff list, in force from 18 May 2026, prices online share orders by market, and the gap between the cheap and the expensive markets is wide. Taxes such as the Belgian TOB come on top of every figure below.

Trackers, warrants, turbos and sprinters cost the same as shares on the same market. Options cost EUR 2.95 per contract on Euronext, EUR 3.00 per contract on Eurex (minimum EUR 14.95 per transaction) and USD 2.50 per contract in the US. Bonds on the secondary market cost 0.20% online with a EUR 29.95 minimum, and funds bought online carry no entry, exit or order fee, although Keytrade receives distribution fees that are included in the funds' running costs.

Currency conversion is where foreign trading gets expensive: Keytrade adds 0.50% change costs to every securities transaction that involves a conversion, on top of the order fee. Real-time quotes are not free either: EUR 2.50 a month for Euronext, EUR 5 for the US, EUR 9.95 for Milan, London and Zurich, EUR 15 for Eurex and EUR 20 for Xetra or the Nordic group, each waived once you execute 3 trades a month on that market group. Equiduct quotes and Euronext market depth are free; Madrid, Toronto and Oslo are delayed only.

The account side is cheap. Opening, managing and closing the accounts is free, and private individuals pay no custody fee on securities; the exception is Low Priced Securities at EUR 5 per line per month. The tariff list also prices custody for companies at 0.10% a year excluding VAT, although Keytrade states that it does not open accounts for companies. Outgoing securities transfers cost EUR 50 excluding VAT per line, while Keytrade reimburses up to EUR 2,500 of what another bank charges you to transfer securities in. The tariff list also names EUR 50 for the treatment of a dormant account and an extra EUR 15 for an order placed by phone.

Keytrade Bank is not a Belgian company. It is the Belgian branch of Arkéa Direct Bank SA, a French société anonyme that also trades in France as Fortuneo, and it has belonged to the cooperative Crédit Mutuel Arkéa group since June 2016. Keytrade's legal notice states that Arkéa Direct Bank is a credit institution regulated by the French ACPR and, for the Belgian branch, by the National Bank of Belgium and the FSMA. The ACPR's REGAFI register lists Arkéa Direct Bank as a licensed credit institution (bank code 14518, dated 13 September 2000 in the register), with Fortuneo and Keytrade Bank as its trade names and a passported branch in Brussels. The ECB's list of supervised entities (cut-off 1 September 2026) names Arkéa Direct Bank among the entities of the Confédération Nationale du Crédit Mutuel, a significant group the ECB supervises directly.

Because the bank is French, deposit and investor protection is French. The FGDR (Fonds de Garantie des Dépôts et de Résolution) covers cash deposits up to EUR 100,000 per client and, separately, securities up to EUR 70,000 if the bank can no longer return them. Keytrade adds that securities registered in your name should be recovered in full without the scheme. One detail matters for anyone with money at both brands: Keytrade's information sheet on deposit protection states that Fortuneo and Keytrade Bank are trade names of the same credit institution, so the EUR 100,000 ceiling applies once to both together.

Client securities are held under the Belgian fungibility regime of Royal Decree No. 62: they can sit in omnibus accounts at sub-custodians, the client holds a proportional co-ownership right, and Keytrade's general terms say the bank monitors that its intermediaries keep client instruments separate. Cash on the current, savings and trading accounts is an ordinary bank deposit.

There is no negative-balance protection: the trading account can go into debit, which costs 10.02% a year. The group is cooperative and not listed on a stock exchange, but Crédit Mutuel Arkéa publishes annual financial reports, the latest for the year to 31 December 2025. We did not look the branch up in the NBB or FSMA registers; the Belgian supervisors are named here as the bank's legal notice names them.

Keytrade offers two front ends: the transaction website in the browser and the Keytrade Bank app for iOS 15.6 or later (App Store listing; Keytrade's own page still says iOS 14) and Android 8 or later. The app does not run on rooted or jailbroken devices or on Android phones without Google services, such as Huawei models. Both cover banking and investing under one login, which is the practical advantage of a bank-broker: you see the current account, savings, trading account, Keyplan and pension savings in one place, and money moves between your own accounts in real time.

The app places orders, keeps watchlists and alerts, opens a Keyplan, supports Apple Pay and is the only way to open and manage pension savings. A single-holder account can be opened entirely in the app; joint accounts and accounts for minors go through the website. On 2 November 2026 the Belgian stores showed 4.3 out of 5 from 6,677 ratings (Apple App Store) and 4.5 from more than 7,600 ratings (Google Play). These are the stores' averages, not our assessment.

For analysis, Keytrade adds two in-house tools. Global Analyzer covers 18 international markets; the Basic version is free, and Premium costs EUR 20 a month but is free for shares you hold and from 3 executed trades a month. The Idea Centre contains a screener over more than 10,000 European and US stocks. Alerts arrive by email, SMS or push notification.

US shares can be traded outside regular hours: pre-market orders from 14:00 to 15:15 Belgian time and after-market orders from 22:15 to 00:30 Belgian time, limited to limit orders valid for the day.

What we did not find: a desktop trading platform, a public API, a demo account or a link to third-party platforms. Real-time prices are charged per market group unless you trade enough, so a passive investor will mostly work with delayed quotes. The tools suit self-directed investors buying shares and trackers rather than intraday traders.

The share offer covers the markets Belgian investors use most: Euronext Brussels, Amsterdam and Paris plus Equiduct, the London Stock Exchange, Xetra, Borsa Italiana, SIX Swiss Exchange, Madrid, Helsinki, Stockholm, Copenhagen and Oslo, NYSE, NASDAQ, AMEX and OTC markets in the US, and TSX and TSX Venture in Toronto. No Asian exchange appears in the list.

Keytrade counts more than 3,200 trackers, including crypto ETNs and ETPs such as the VanEck Bitcoin, Ethereum and Solana ETNs, the 21Shares Bitcoin Core ETP and the CoinShares Physical Bitcoin ETP; we found no direct crypto trading. The fund range counts more than 660 third-party funds, dealt online without entry, exit or order fees. Options trade on Euronext, Eurex and US markets; writing options requires margin calculated with a scenario-based model, and Keytrade states that clients cannot exercise options through it, although in-the-money equity options are cash-settled automatically at expiry under certain conditions. Leverage products (warrants, turbos, sprinters), bonds on the primary and secondary market and structured products complete the listed range.

For investors who prefer not to pick single securities there are three managed routes. Keyplan invests a fixed amount from EUR 25 per period in funds chosen from a list of 40. Keyprivate is discretionary management from EUR 15,000 in 8 trackers (4 equity, 2 bond, 2 commodity) plus cash, for 0.91% a year including VAT and transaction costs. Pension savings (pensioensparen) runs through three BNP Paribas B Pension funds.

Keytrade also runs an optional securities lending programme. Once you switch it on, listed shares and ETFs in that account can be lent out against cash collateral in euros worth 105% of their value, and the income left after service-provider costs is split 50/50 between you and Keytrade. Loans are recalled before a dividend, voting rights pass to the borrower while a share is on loan, you can always sell, and you can switch the programme off at any time. Keytrade's general trading page still says your securities are not lent out; the dedicated FAQ describes this opt-in programme.

Not in the tariff list or on the product pages: futures, forex, CFDs and spot crypto; we also found no fractional-share dealing.

For a Belgian resident, tax handling is a central argument for a Belgian bank-broker, and Keytrade does most of it without being asked.

TOB (stock exchange tax). Keytrade collects the tax and shows it separately on each statement. Rates in force since 1 April 2025: shares 0.35%, capped at EUR 1,600 per transaction; bonds on the secondary market 0.12% (cap EUR 1,300); distributing trackers and accumulating trackers registered with an EEA supervisor other than the FSMA 0.12% (cap EUR 1,300); accumulating trackers registered with the FSMA 1.32% (cap EUR 4,000); options 0.00%.

Dividends. Keytrade withholds the 30% Belgian withholding tax on what remains after foreign withholding tax. For most US shares the treaty rate of 15% is applied automatically; reclaiming German, French or Swiss tax costs 4.2% of the recovered amount (minimum EUR 60 excluding VAT).

Capital gains tax. Belgium taxes realised gains on financial assets at 10% from 1 January 2026; for holdings bought earlier, the value on 31 December 2025 is the reference price. From 1 June 2026 Keytrade withholds the tax automatically on each account unless you opted out. If you made no choice, the account counts as opted out from January to May 2026 and opted in from 1 June 2026. When it withholds, it does so from the first euro: it does not offset losses and does not apply the annual exemption of EUR 10,000, which can grow by up to EUR 1,000 a year to EUR 15,000; you claim both through your tax return. Bring proof of the purchase price when you transfer securities in, otherwise the bank must assume a cost of zero. Pension savings funds are outside this tax.

Annual tax on securities accounts. Accounts with an average value above EUR 1 million pay 0.15%, capped at 10% of the excess over the threshold; Keytrade withholds, reports and pays it.

Pension savings. Opened and managed only in the app, with a choice of three BNP Paribas B Pension funds (Stability, Balanced, Growth; running costs of 1.34%, 1.36% and 1.37% at 31 December 2024), a 3% entry fee on each deposit and no exit fee. The tax reduction is 30% on up to EUR 1,050 a year (EUR 315) or 25% on up to EUR 1,350 (EUR 337.50). Pension savings carry a final tax of 8%, and money taken out before age 60 largely loses the tax benefit.

Keytrade accepts applicants who have Belgian citizenship, live in Belgium or are tax-resident in Belgium. Residents identify with a Belgian identity card, non-residents with a passport. You need an email address and a mobile number; a foreign number is accepted, but cards are then activated by post instead of remotely. The application runs online with or without itsme. An electronic signature is only possible with itsme; otherwise you print, sign and return the contract. Keytrade says processing is often almost instant or takes a few days but can take a few weeks, depending on the documents it still needs. Companies cannot open an account, while self-employed people can, and US Persons cannot hold a securities account. Before an order in a complex instrument (for example options, warrants, turbos, ETNs, ETCs or non-UCITS funds) you complete Keytrade's knowledge and experience test; shares, bonds, trackers and funds that count as non-complex do not require it.

Approval opens three free accounts at once: a current account, a savings account and a trading account. No minimum deposit is required. Money reaches the trading account through the current account: SEPA transfers in and out of the current account are free, instant SEPA included (up to EUR 5,000 per instant transfer, EUR 150,000 per standard transfer), and transfers between your own Keytrade accounts are processed in real time. The trading account cannot send money to another bank directly, and sale proceeds can usually be moved only from the next business day. Debit and credit cards are issued only to Belgian residents.

Interest on cash. The trading account and the current account pay 0.00% gross. Interest is paid on the regulated savings accounts: according to the rate sheet applicable from 1 September 2026, the Azur savings account pays a base rate of 0.80% plus a loyalty premium of 0.40%, and the High Fidelity savings account 0.50% plus 1.50%. The loyalty premium is earned only on money left in the account for 12 months without interruption. A debit balance on the trading account costs 10.02% a year.

Regular investing. Keyplan invests a fixed amount from EUR 25 per period, monthly, quarterly, half-yearly or yearly, in funds from Keytrade's list of 40. There is no entry fee, no fee on the periodic payments and no custody fee for private clients, and a Keyplan for Kids exists for minors. Keytrade earns a distribution fee that is included in the funds' running costs.

Research is built around the two in-house tools rather than broker analyst reports: Global Analyzer for company analysis across 18 markets and the Idea Centre screener over more than 10,000 European and US stocks. Market depth is free on Euronext. For background, Keytrade publishes a blog, short tutorial videos on placing an order, checking order details and moving money (in French and Dutch), information sessions and webinars, and the Dutch-language Trends Beleggen podcast, in which Inside Beleggen's director of analysis and strategy talks to Trends journalists every Wednesday. It is useful material, but thinner than the education programmes of the large international brokers.

Support hours are long. The contact centre answers by phone on +32 2 679 90 00 from Monday to Friday, 09:00 to 22:00; from 17:00 it handles only questions on cards, payments and investments. Keytrade recommends calling through the app so that you are identified straight away. Keyplan, pension-savings and Keyprivate questions have their own line, 02 679 91 11, Monday to Friday from 09:00 to 17:00. In writing you can use the contact form or info@keytradebank.com. Keytrade's website also offers an AI assistant in French, Dutch and English. We found no weekend service.

Complaints go first to the contact centre, then to the Quality Care Service, which answers within 15 days for payment services and within 30 days for other products and services, and finally to Ombudsfin, the Belgian mediation service for banking, credit and investment disputes.

Trustpilot blocked our automated request, so we have no review-site picture beyond the app-store averages quoted in the platform section.