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BE · Country profile

Best brokers in Belgium

Belgium prohibits the marketing of certain leveraged products such as forex CFDs and binary options to retail clients, so many international CFD brokers do not accept Belgian residents. For stock and ETF investors, what matters is who settles the TOB and the 10% capital gains tax that applies from 2026: intermediaries established in Belgium withhold the capital gains tax since 1 June 2026 unless the client opts out; some providers, LYNX for example, withhold only the TOB. With a foreign broker you in principle declare the gains yourself, and you pay the TOB yourself where the broker does not withhold it.

The ranking

Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

Brokers available
30of 72
With a local licence
0
Tier-1 regulated
29
Avg. score
3.9

Market in figures

Belgium: the broker market in figures

30 of the 72 brokers in our dataset accept clients resident in Belgium. The figures below count only what a record documents — a missing entry never counts as a yes.

EUR as an account currency
26of 30
Customer support in Dutch
14of 30
Commission on a €5,000 share order
€0 – €12.5018 providers with a comparable price
No custody fee (documented)
21of 30

Run your own numbers

Country profile

Market profile

Supervision, investor protection and tax — the three points that decide the account.

Belgium

BE · Country profile

Local currency
EUR
Local regulator
FSMANBB
Recorded providers
30 of 72

Investor protection

Beschermingsfonds — securities up to EUR 20,000; deposits up to EUR 100,000; cash at Belgian investment firms up to EUR 100,000

The part that decides

Tax notes

Since 1 January 2026 capital gains on financial assets are taxed at 10% (law of 6 April 2026, Belgian Official Gazette of 21 April 2026). A first amount is exempt every year; providers such as LYNX and Keytrade give EUR 10,000 per taxpayer for assessment year 2027, and unused exemptions can be carried forward to a limited extent from 2027. For assets acquired before 2026 the value on 31 December 2025 is the starting point; for disposals until the end of 2030 the proven purchase price can be used on request. Intermediaries established in Belgium withhold the tax since 1 June 2026 unless the client opts out; with a foreign broker you in principle declare the gains yourself. Speculative gains are taxed at 33%. Dividends carry 30% withholding; dividends up to EUR 833 per person per year are exempt, and the tax on them is refunded through the return. On accumulating bond funds and trackers with at least 10% in bonds, the bank withholds 30% on the bond part of the gain (Reynders tax). The TOB stock exchange tax is 0.12%, 0.35% or 1.32% depending on the instrument (capped at EUR 1,300, 1,600 and 4,000 per trade respectively). Securities accounts with an average value above EUR 1m are subject to an annual 0.15% tax. Accounts abroad must be reported once to the National Bank's Central Point of Contact (CAP) and declared in the return every year.

Brokers that withhold tax locally

Our dataset records no provider as a tax withholding agent for this country. How you declare the income is governed by the country's tax law.

Orientation based on the general legal position — not tax advice. Your personal situation and the legislation in force at the time govern.

Available here

The ranking

Ranked by our overall score across ten weighted criteria. Only providers that accept clients resident here.

See all brokers
Where you live decides which brokers and promotions are open to you. The page language is independent of it.

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

Rank 1

Charles Schwab

The full-service US giant that also owns thinkorswim, a professional-grade trading platform.

  • US long-term investors
  • Options and futures traders
Stocks (per order)
Free
Minimum deposit
None
FX conversion
1 %
StocksETFsOptionsFutures+5
  • Pros: USD 0 commission on every online listed US stock and ETF order, with no share cap and no proprietary-fund restrictions
  • Cons: No spot cryptocurrency trading — only ETFs, futures and crypto-adjacent equities, which puts Schwab behind Fidelity and well behind Robinhood
Group index 93/100
SECFINRA, FDIC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 2Interactive Brokers logo

Interactive Brokers

The cheapest serious route to almost every market on earth — if you can live with the learning curve.

  • Active and professional traders
  • Multi-currency investors

Up to USD 1,000 in stock — Referral programme with share credit

Note: this button leads to the Interactive Brokers home page and is not a referral link. The share credit is only available if you open the account through an invitation from an existing Interactive Brokers client.

Stocks (per order)
0.05 %
Minimum deposit
None
FX conversion
0 %
StocksETFsOptionsFutures+8
  • Pros: US stocks from USD 0.0035 per share on the Tiered plan, minimum USD 0.35 per order and capped at 1% of trade value
  • Cons: Customer support is the most common complaint: many requests go through the ticket system, and public reviews (e.g. on Trustpilot) often cite slow replies and template answers
Group index 90/100
SECFCA, CBI, ASIC, MAS
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 3Saxo logo

Saxo

A Danish bank that trades like a professional platform — broad, polished, and no longer expensive.

  • Multi-asset portfolios
  • Bond investors

Tiered — Improved pricing at higher account tiers

Stocks (per order)
0.08 %
Minimum deposit
None
FX conversion
0.25 %
StocksETFsOptionsFutures+7
  • Pros: Full Danish banking licence (Finanstilsynet licence 1149) and SIFI designation — a stronger structural safeguard than a broker-only permission
  • Cons: Currency conversion costs 0.25% over mid-market for EU and Swiss clients, and up to 0.60% at the UK entity's Classic tier — the single largest hidden cost for cross-currency investors
Group index 96/100
DFSAFCA, FINMA, MAS, JFSA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 4CapTrader logo

CapTrader

Interactive Brokers' market access wrapped in German regulation, German support and a German phone number.

  • German-speaking options and futures traders
  • Active traders who want IBKR pricing with German support
Stocks (per order)
0.1 %
Minimum deposit
€2,000
FX conversion
0 %
StocksETFsOptionsFutures+7
  • Pros: BaFin-supervised German investment firm (institution number 10156708) with a Düsseldorf address, German contract law and a free German hotline until 20:00
  • Cons: No Abgeltungsteuer is withheld. German investors gain a compounding advantage but must declare everything themselves via Anlage KAP, and a Freistellungsauftrag is not possible — for many people that alone rules CapTrader out
Group index 81/100
BaFinCBI, FCA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 5tastytrade logo

tastytrade

An options-specialist US broker: USD 1 per contract to open, closing commission-free — built by people who trade premium for a living.

  • Options premium sellers
  • High-volume multi-leg traders

USD 0 to close — No commission to close options positions

Stocks (per order)
Free
Minimum deposit
None
FX conversion
n/a
StocksETFsOptionsFutures+5
  • Pros: Equity options are USD 1 per contract to open, USD 0 to close and capped at USD 10 per leg — large multi-leg orders scale for free
  • Cons: FINRA censured and fined tastytrade USD 850,000 in 2026 for failing to run adequate best-execution reviews on equity orders routed to five payment-for-order-flow market makers between 2020 and 2023
Group index 82/100
FINRASEC, NFA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

Rank 6Kraken logo

Kraken

The most heavily licensed venue in crypto — and the only one that is also a chartered US bank.

  • Traders who prioritise regulatory quality
  • Crypto derivatives and margin traders
Stocks (per order)
Share trading not offered
Minimum deposit
€1
FX conversion
n/a
StocksETFsOptionsFutures+3
  • Pros: Wyoming SPDI bank charter through Kraken Financial — a full-reserve institution required to hold 100% unencumbered liquid assets against customer fiat, with a Federal Reserve limited-purpose master account
  • Cons: Entry-tier spot pricing of 0.40% maker and 0.80% taker is the most expensive base rate among major regulated venues, and you need USD 10,000 of 30-day volume before it drops below 0.40% taker
Group index 78/100
CBIFCA, SEC, CFTC, WY DoB, CySEC, VARA, BVI FSC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 7LYNX logo

LYNX

The friendliest front door to Interactive Brokers in the German-speaking market — and the most expensive one.

  • German-speaking investors who want IBKR access without TWS
  • Options and futures traders
Stocks (per order)
0.14 %
Minimum deposit
None
FX conversion
0.01 %
StocksETFsOptionsFutures+7
  • Pros: LYNX+ is a genuinely good browser platform, and having it alongside full Trader Workstation access means you can start simple and grow into the terminal
  • Cons: The most expensive of the German Interactive Brokers introducing brokers on equities: 0.14% with a EUR 5.80 Xetra minimum and a USD 5.00 minimum on US shares, against CapTrader's EUR 4.00 and USD 2.00
Group index 80/100
AFMBaFin, CBI, FCA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 8

OANDA

Thirty years, six top-tier licences and one of the strongest mobile apps in FX - attached to spreads you have to work around.

  • Beginners
  • Mobile-first traders
Stocks (per order)
0.06 % (CFD)
Minimum deposit
None
FX conversion
1 %
StocksETFsForexCFDs+6
  • Pros: Regulated by six tier-1 authorities - CFTC/NFA, FCA (542574), CIRO, ASIC (AFSL 412981), MAS and the JFSA - a licence footprint almost nobody in retail FX matches
  • Cons: The default spread-only account is expensive: EUR/USD has been measured at 1.4 to 1.7 pips against roughly 0.8 pips all-in at raw-spread competitors
Group index 89/100
CFTC/NFAFCA, ASIC, CIRO, MAS, JFSA, KNF, BVI FSC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 9Trading 212 logo

Trading 212

One of the cheapest mainstream ways to buy stocks and ETFs in Europe - 0% commission, 0.15% FX, and almost nothing else to pay.

  • Low-cost ETF investing
  • Monthly savings plans

EUR 8–100 reward — Reward via promo link or promo code

Note: this button leads to the Trading 212 home page and is not a promo link. The reward is only available through a promo link, or a promo code you enter no later than ten days after opening the account.

Stocks (per order)
Free
Minimum deposit
€1
FX conversion
0.15 %
StocksETFsForexCFDs+3
  • Pros: One of the lowest all-in costs among mainstream European brokers for buy-and-hold investors: no commission, no custody fee, no inactivity fee, free withdrawals with no minimum, and a 0.15% FX conversion fee.
  • Cons: Research is the weakest of any broker at this size. There is no meaningful screener, no analyst consensus, no fundamental data worth the name and no export tooling - you will make every decision using data from somewhere else.
Group index 75/100
FCABaFin, ASIC, CySEC, FSC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 10ActivTrades logo

ActivTrades

A twenty-five-year-old London CFD house that buys extra insurance for your money and charges nothing to hold it.

  • Safety-conscious CFD traders
  • MetaTrader and TradingView users
Stocks (per order)
in the spread (CFD)
Minimum deposit
None
FX conversion
0.5 %
StocksETFsForexCFDs+5
  • Pros: FCA licence 434413 held since 2005, plus a CMVM-regulated EU entity, an SCB entity and a Brazilian brokerage - one of the longest continuous track records in retail CFDs
  • Cons: 82 percent of ActivTrades retail accounts lose money on CFDs - the highest disclosed rate among the fourteen FCA-regulated CFD brokers surveyed by The Investors Centre in 2026, against a 69.9 percent mean
Group index 68/100
FCACMVM, CVM, SCB, FSC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 11

Bybit

The derivatives exchange that survived the largest theft in crypto history — and then got itself properly licensed in the EU.

  • Perpetual futures traders
  • Copy-trading followers
Stocks (per order)
Not offered
Minimum deposit
None
FX conversion
n/a
OptionsFuturesCryptoCommodities+2
  • Pros: USDT perpetual contracts at 0.0200% maker and 0.0550% taker, with a deep book that makes Bybit the strongest derivatives alternative to Binance
  • Cons: EEA residents get spot and spot margin only. Perpetuals, options and TradFi contracts require the global platform, which Bybit EU customers may not use, because those products need a MiFID II licence Bybit has applied for but not obtained
Group index 57/100
FMAVARA, AFSA, NBG
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 12DEGIRO logo

DEGIRO

A low-cost route to owning shares outright in Europe - provided you never need anyone to hold your hand.

  • Buy-and-hold ETF investors
  • Options and futures traders

EUR 0 commission + EUR 1 handling — Core ETF selection without commission

Stocks (per order)
€3
Minimum deposit
€0.01
FX conversion
0.25 %
StocksETFsOptionsFutures+6
  • Pros: ETF Core Selection trades cost EUR 0 commission plus the EUR 1.00 handling fee - among the cheapest ETF execution available to EU retail investors.
  • Cons: The EUR 1.00 handling fee lands on almost every order, so a EUR 200 ETF purchase costs 0.5% before anything else. DEGIRO is cheap per order, not cheap per euro invested.
Group index 81/100
BaFinAFM, DNB
Protection depends on your legal entity
Visit brokerRead review

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

Accounts and offers

Tax-advantaged accounts in Belgium

What tax law provides, with source and date. Whether an account suits your situation is not something we judge — this is not tax advice.

Tax-advantaged accounts in Belgium
AccountLimitMinimum holding periodTax treatmentHoldings and rulesSource
PensioensparenPension product · Insurance contractnot statednot stated
  • Tax credit on part of the contributions
not statedSource: wikifin.beAs of 25 October 2026
Pensioensparen
For income year 2026 there are two ceilings: contributions up to EUR 1,050 earn a 30% tax reduction, up to EUR 1,350 a 25% one. The money goes into funds at a bank or into an insurance contract (class 21 or 23). Contributions are possible from age 18 until 31 December of the year you turn 64. We have not confirmed at a source how the payout is taxed.

What brokers in our comparison offer in Belgium

Only brokers that accept clients resident in Belgium, and only what a source documents. A broker missing from a row is undocumented — not a “no”.

Tax withholding or tax statement under the country's rules

Documented as no:

  • LYNXSource: lynx.beAs of 25 October 2026

    LYNX states that it works with the opt-out system and does not withhold the Belgian capital gains tax at source. It does, however, withhold and remit the TOB.

Collects the country's transaction tax

Branch or company in the country

Website in Dutch

By trading style

Best broker per category

Every category weights the rating criteria differently — which is why the same provider rarely wins everywhere.

Transparency

Not available here

Transparency means showing the gaps too. These recorded providers do not accept clients resident here.

Tax and protection

Tax, supervision and investor protection in Belgium

Every fact with its source and the date we read it. Not tax or investment advice.

Supervision

Investor protection

  • BeschermingsfondsSecurities: up to €20,000 per client and institutionSource: garantiefonds.belgium.beAs of 25 October 2026

    For financial instruments held at a credit institution or investment firm from the EEA, only if they cannot be returned after a failure; losses in value are not covered.

  • Beschermingsregeling beleggingstegoedCash held with the securities at an investment firm: up to €100,000 per client and institutionSource: garantiefonds.belgium.beAs of 25 October 2026

    Investment cash (beleggingstegoed) held at a Belgian investment firm.

  • Beschermingsregeling deposito'sBank deposits: up to €100,000 per client and institutionSource: garantiefonds.belgium.beAs of 25 October 2026

    Deposits at EEA credit institutions; the same page gives EUR 100,000 for class 21 life insurance at Belgian insurers too.

Such schemes pay when an institution fails and cannot return securities or cash. They do not cover falling prices.

US withholding tax

15% on US dividends: the rate under the income tax treaty with the US

Source: irs.govAs of 25 October 2026

General treaty rate on dividends per IRS Table 1 (rev. May 2023); 5% applies only to qualifying direct holdings.

Transaction tax

  • Taks op de beursverrichtingen (TOB)0.12% on purchases and salesApplies to: Bonds, funds and ETFsat most €1,300 per transactionSource: wikifin.beAs of 25 October 2026

    Bonds; regulated real-estate companies registered with the FSMA; distributing shares of listed investment companies (beveks) registered with the FSMA or another EEA regulator; accumulating shares of listed beveks registered only with another EEA regulator; listed EEA-registered common funds. With an account abroad, the Belgian taxpayer pays the TOB personally by the last working day of the second month after the transaction, unless the foreign bank withholds and remits it (Wikifin).

  • Taks op de beursverrichtingen (TOB)0.35% on purchases and salesApplies to: Shares and ETFsat most €1,600 per transactionSource: wikifin.beAs of 25 October 2026

    Shares, warrants and real-estate certificates; listed funds not registered in the EEA. With an account abroad, the Belgian taxpayer pays the TOB personally by the last working day of the second month after the transaction, unless the foreign bank withholds and remits it (Wikifin).

  • Taks op de beursverrichtingen (TOB)1.32% on purchases and salesApplies to: Funds and ETFsat most €4,000 per transactionSource: wikifin.beAs of 25 October 2026

    Accumulating shares of listed beveks on the FSMA list, and the sale of accumulating shares of unlisted beveks. With an account abroad, the Belgian taxpayer pays the TOB personally by the last working day of the second month after the transaction, unless the foreign bank withholds and remits it (Wikifin).

Sources and dates

We read every fact in these sections at the source named, on the date shown. Law and offers change; the source is what counts.

Show 9 sources
  1. Source: wikifin.beAs of 25 October 2026
  2. Source: wikifin.beAs of 25 October 2026
  3. Source: lynx.beAs of 25 October 2026
  4. Source: lynx.beAs of 25 October 2026
  5. Source: home.saxoAs of 25 October 2026
  6. Source: traderepublic.comAs of 25 October 2026
  7. Source: irs.govAs of 25 October 2026
  8. Source: wikifin.beAs of 25 October 2026
  9. Source: garantiefonds.belgium.beAs of 25 October 2026

Head to head

The top 8, row by row

Fees apply to retail accounts under normal market conditions. Each provider's data date is on its review.

The top 8, row by row — Belgium
Rank#BrokerOverall scoreStocks (per order)Minimum depositFX conversionLocal licenceTax withheldAsset classesAction
1Charles SchwabSEC · FINRA · FDIC4.6FreeNone1 %Local licenceTax withheld9Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

2Interactive Brokers logoInteractive BrokersSEC · FCA · CBI4.50.05 %None0 %Local licenceTax withheld12Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

3Saxo logoSaxoDFSA · FCA · FINMA4.40.08 %None0.25 %Local licenceTax withheld11Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

4CapTrader logoCapTraderBaFin · CBI · FCA4.20.1 %€2,0000 %Local licenceTax withheld11Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

5tastytrade logotastytradeFINRA · SEC · NFA4.2FreeNonen/aLocal licenceTax withheld9Visit broker

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

6Kraken logoKrakenCBI · FCA · SEC4.1Share trading not offered€1n/aLocal licenceTax withheld7Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

7LYNX logoLYNXAFM · BaFin · CBI4.10.14 %None0.01 %Local licenceTax withheld11Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

8OANDACFTC/NFA · FCA · ASIC4.10.06 % (CFD)None1 %Local licenceTax withheld10Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Provider holds a licence from a supervisory authority of this country. Our dataset records the provider as a tax withholding agent for this country.

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

Countries

Frequently asked questions

30 of the 72 providers recorded in our dataset accept clients resident in Belgium. The highest rated right now are Charles Schwab, Interactive Brokers and Saxo. The full ranking with fees and regulation is at the top of this page.

Content on Brokaro is for information purposes only and is not investment, legal or tax advice. All information is provided without guarantee; only the provider's own statements are authoritative.

Read on

Guides and calculators for investors in Belgium

Background on tax, fees and regulation — and calculators for your own amounts.

Guides

Calculators

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