How to Start Forex Trading in Belgium

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Contributor, Benzinga
April 5, 2024

Interested in getting started with forex trading in Belgium? The world of foreign exchange trading can be complex and overwhelming for beginners, but with the right guidance, you can navigate the markets successfully.

forex trading, also known as currency trading, involves buying and selling currencies in the foreign exchange market. It is a popular way for individuals to potentially earn profits by speculating on the value of one currency against another. In Belgium, forex trading is a growing trend, with more and more people turning to the markets to diversify their investments.

If you're looking to dive into the world of forex trading in Belgium, there are a few key steps you need to take to get started. From selecting a reputable broker to understanding risk management, this article will provide you with the essential information you need to begin your forex trading journey in Belgium.

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Get Started with Forex in Belgium

There is a safe way to engage in the forex market. Start with the following major steps:

  • Internet connection: A strong internet connection means access to timely entrances into and exits from the forex market. You will also need good internet to avoid the security problems that come with weaker connections.
  • Your broker: If you are looking for riskier investment opportunities such as high-leverage accounts or binary options, you’ll have to choose an offshore broker. If you are a professional investor, you can work through a Belgian broker for the forex market. Make sure that any broker you choose is properly regulated through a reputable financial authority.
  • Connecting your bank account: The broker you choose should allow for easy connection to your existing bank account. Check the broker’s policy and record of allowing timely withdrawals as well.
  • Funding your account: Fund your investment account with your outside bank account or using another financial vehicle. Most brokers will accept debit and credit cards.
  • Trading interface: You can choose a reputable trading interface like MetaTrader or trust your broker to connect you to the market through a proprietary program. Your interface should give easy access to real-time news feeds, up-to-the-minute charts and other important information.
  • Start trading: Every step of your setup must be checked for a strong connection and compliance with the appropriate authorities. Once this is done, you are ready to safely invest in forex.

Belgian Forex Trading Strategies

Depending on the way you want to trade forex, you’ll have to move on or offshore. The overarching strategies for success are generally the same no matter where you trade from. 

News Trading

Although the forex market is not as volatile as the securities market, unexpected news items can definitely cause price volatility. Short-term traders learn to profit from these quick moves in a currency’s price. You’ll need a setup with access to real-time news. You will also need an instinct for how that news affects currency prices. 

Technical Investing

Technical investing refers to trading that focuses on chart patterns. Over the course of days or months, currency prices sometimes showcase predictable movements that can be exploited for profit. Investors who specialize in technical trading are good at choosing and interpreting the results of trading indicators. Reacting to the market in real-time is also important, as the window of opportunity for technical investors can be very short.

Fundamentals Trading

Trading the fundamentals puts the news and the charts in a less important position than the macroeconomic conditions surrounding a currency and its relationship to other currencies in the market. The short-term movements of a currency don’t affect the fundamentals investor because this investor is looking for large moves that occur from wide price inefficiencies. As these inefficiencies correct themselves, the investor takes in profit. Traders can spend months or even years on a single trade.

Forex Trading Example in Belgium

Imagine that you see that EUR/USD is currently trading at 1.1240/1.1280 and you want to buy in for €50,000. You think a fast price increase is coming because of favorable news you just heard. You will need $1373.72 cash in your investment account in order to purchase a €50,000 investment, as the EUR/USD currency pair has a margin rate of 2.44%. 

After 3 hours, the EUR/USD price is 1.1310/1.1330. This is a 30-point move. Your total profit is $150 [(€50,000 x 1.1310) – (€50,000 x 1.1280)].

Making Money with Forex in Belgium


Attribution: Focus on Belgium

With your high-level strategy in place, you can drill down into some daily tactics like the following:

  • Short selling: the euro is 1 of the strongest currencies in the world. If you believe another currency will fall against it, you can make money by short-selling that currency against the euro. 
  • Contracts for Differences (CFDs): CFDs are highly regulated in Belgium. You can trade them using an offshore broker. They allow you to profit from the price differences in currencies without ever owning them. CFD brokers usually allow higher leverage than regulated forex brokers.
  • Binary options: binary options are also prohibited through Belgian brokers. They seem simple because they offer the investor a simple yes or no question rather than the complex tracking of currency prices. They can be traded offshore.

Top Online Forex Brokers in Belgium

If you are looking for forex brokers in Belgium, the list below will get you started.

  • Pepperstone FX
    Best For:
    Trading Experience
    securely through Pepperstone FX's website

    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

  • Axi
    Best For:
    MT4 Traders
    securely through Axi's website

    Over-the-counter derivatives are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone and may result in you losing substantially more than your initial investment. You do not own, or have any rights to, the underlying assets. You should only trade with money you can afford to lose.

  • BlackBull Markets
    Best For:
    Lightning Fast Execution Speed
    securely through BlackBull Markets's website
  • AvaTrade
    Best For:
    Non U.S. Forex & CFD Traders
    securely through AvaTrade's website
  • City Index
    Best For:
    CFD Trading
    securely through City Index's website

    Investors should keep in mind that 70% of all CFD accounts lose money.

  • NON US
    Best For:
    Forex Trading in and Outside the U.S.
    securely through NON US's website

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    The products and services available to you at will depend on your location and on which of its regulated entities holds your account

Forex Terminology

Mastering the language of forex is a must to do well in the market. Here are a few basic terms:

  • Pip: the base unit in forex, usually pinned to the value of $0.0001
  • Lot size: the size of your order that has a default of 100,000 currency units
  • Orders: your instruction to buy or sell a currency pair
  • Calls: a contract for an order you may or may not execute in the future

Start Forex Trading in Belgium Today

Belgian investors face a difficult dilemma — follow the government’s risk-averse direction or play in the offshore world of high stakes and high profit. Even professional investors enjoy the protection and perspective of financial authorities because some brokerage fraud includes simply not paying investors even when they win. Doing business within a fair structure that guarantees proper payback is essential to success in forex. 

Regardless of which path you choose, it’s never a wrong move to rely on up-to-date information. Bookmark us and come back for frequently updated news and strategies related to the forex market.

Frequently Asked Questions


Is it legal to trade forex in Belgium?


Yes, it is legal to trade forex in Belgium.


Is it safe to trade forex in Belgium?


It is safe to trade forex in Belgium as long as you use a licensed forex broker.


Which European country is best for forex traders?


There is no definitive answer to which European country is the best for forex traders as it ultimately depends on individual preferences and needs. However, some popular destinations for forex trading in Europe include the United Kingdom, Cyprus and Switzerland due to their established financial markets and regulatory frameworks.

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
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