⚠ No affiliate links. No sponsored content. Independent. Sources: official fee pages, FSMA. May 2026.
🇧🇪 Independent comparison — May 2026
Best broker Belgium 2026:
honest comparison
DEGIRO, Bolero, Saxo Bank, Keytrade, Trade Republic, MeDirect, ING Self Invest, BNP and more — compared on fees, automatic TOB management and ease of use. No affiliate links.
Comparison table
Brokers in Belgium — 2026 comparison
The most important criteria for a Belgian investor: transaction fees, ETF commission, automatic TOB and regulation.
| Broker | Euronext stocks (small order) | US stocks | ETF commission | Custody fees | FX margin | Auto TOB? | Belgium-licensed? | Beginners |
|---|---|---|---|---|---|---|---|---|
| Bolero (KBC) | €2.50 (≤€250) · €5 (≤€1k) · €7.50 (≤€2.5k) | $2.50 · $5 · $7.50 | Same fee structure | None | ~0.60% | Yes ✓ | Yes ✓ | ⭐⭐⭐⭐⭐ |
| DEGIRO | €3.90 + €1 handling (Euronext); €1 handling Tradegate | $1 commission + $1 handling | Selected Tradegate ETFs: €1; others: €3 | None | Auto: 0.25% · Manual: €10 + 0.25% | Yes (Flatex NL) ✓ | No (NL) | ⭐⭐⭐⭐ |
| Interactive Brokers | €3 flat; 0.05% >€6k | from $0.0005/share (min $1) | Same as stocks | None | ~0.002% (cheapest) | No ✗ — must self-declare | No (IE) | ⭐⭐⭐⭐ |
| Keytrade Bank | €2.45 · €5.95 · €14.95 · +€7.50/€10k | $14.95 · $19.95 · +$7.50/$10k | Same fee structure | Free | ~1% | Yes ✓ | Yes (BE branch) ✓ | ⭐⭐⭐⭐ |
| Saxo Bank | 0.08% min €2 | 0.08% min $1 | 0.08% min €2 | None | 0.25% | Yes ✓ | Yes (BE branch) ✓ | ⭐⭐⭐ |
| Re=Bel (Belfius) | €3 (≤€2.5k BRU) · €6 (AMS/PAR) | €9 min | €2 (≤€1k Euronext) | None | max 1% | Yes ✓ | Yes ✓ | ⭐⭐⭐⭐ |
| ING Self Invest | 0.35% min €1 | 0.5% min €1 | 0.35% min €1 | 0.0242%/month on portfolio | max 1% | Yes ✓ | Yes ✓ | ⭐⭐⭐⭐ |
| MeDirect | Mainly ETFs/funds — check medirect.be | Check medirect.be | €0 (commission-free) | None | To verify | Yes ✓ | Yes (BE branch) ✓ | ⭐⭐⭐⭐ |
| Trade Republic | €1 flat | €1 flat | €0 savings plans; €1 manual | None | Variable | No ✗ — must self-declare (monthly) | No (DE) | ⭐⭐⭐⭐ |
| BNP Paribas Fortis / Fintro | To verify — see official fees | To verify | To verify | Free | To verify | Yes ✓ | Yes ✓ | ⭐⭐⭐ |
Sources: official broker fee pages (May 2026). Always verify fees on the broker's official website.
Key criterion in 2026: With the new 10% capital gains tax (since January 2026), automatic tax management matters even more. Belgian brokers handle this for you. Foreign brokers leave it to you.
Belgian brokers
Belgian brokers — all taxes handled automatically
Saxo Bank
Pros
✅ Lowest fees of Belgian brokers (€2/ETF)
✅ All taxes handled automatically
✅ 2026 capital gains tax automatic
✅ AutoInvest (automatic investing)
✅ Wide choice of ETFs and stocks
✅ All taxes handled automatically
✅ 2026 capital gains tax automatic
✅ AutoInvest (automatic investing)
✅ Wide choice of ETFs and stocks
Cons
❌ No fractional shares
❌ Platform can seem complex for beginners
❌ Bad reputation after BinckBank takeover (improved)
❌ Platform can seem complex for beginners
❌ Bad reputation after BinckBank takeover (improved)
Bolero (KBC)
Oldest Belgian online broker — well-known brand, higher fees
Pros
✅ All taxes automatic
✅ Reliable, FSMA-licensed
✅ ETF Playlist — cheaper for selected range
✅ Securities not lent out
✅ Reliable, FSMA-licensed
✅ ETF Playlist — cheaper for selected range
✅ Securities not lent out
Cons
❌ Higher fees than Saxo (€5/ETF)
❌ No automatic investing
❌ No fractional shares
❌ No automatic investing
❌ No fractional shares
Keytrade Bank
Belgian branch of Arkéa Direct Bank (FR) — FSMA-licensed
Pros
✅ All taxes handled automatically
✅ No custody fees
✅ Reduced fees on small orders (since Jan 2025)
✅ FR/NL customer support
✅ No custody fees
✅ Reduced fees on small orders (since Jan 2025)
✅ FR/NL customer support
Cons
❌ US stocks expensive ($14.95 min)
❌ Outgoing transfer fees: €50/line
❌ No fractional shares
❌ No automatic savings plans
❌ Outgoing transfer fees: €50/line
❌ No fractional shares
❌ No automatic savings plans
Re=Bel (Belfius)
Belfius online broker — €1/trade for ages 18–24 (from 2026)
Pros
✅ All taxes handled automatically
✅ €1/trade for 18–24 year olds (2026)
✅ No custody fees
✅ Integrated in Belfius app
✅ €1/trade for 18–24 year olds (2026)
✅ No custody fees
✅ Integrated in Belfius app
Cons
❌ Belfius customers only
❌ More expensive outside Euronext Brussels
❌ US stocks expensive (€9 min)
❌ No automatic savings plans
❌ More expensive outside Euronext Brussels
❌ US stocks expensive (€9 min)
❌ No automatic savings plans
MeDirect
Maltese bank FSMA-licensed in Belgium — €0 ETF fees
Pros
✅ €0 ETF fees
✅ All taxes handled automatically
✅ FSMA-licensed
✅ Good platform
✅ All taxes handled automatically
✅ FSMA-licensed
✅ Good platform
Cons
❌ Very high outgoing transfer fees (€150/line)
❌ More limited ETF selection
❌ No fractional shares
❌ More limited ETF selection
❌ No fractional shares
Foreign brokers
Foreign brokers — cheaper, more administration
DEGIRO
Dutch platform, active in Belgium — automatic TOB via Flatex
Pros
✅ Low fees (€1–3/transaction)
✅ Automatic TOB via Flatex
✅ Wide ETF choice
✅ Intuitive platform
✅ Automatic TOB via Flatex
✅ Wide ETF choice
✅ Intuitive platform
Cons
❌ 2026 capital gains tax NOT automatic
❌ Foreign dividends withholding tax: must self-declare
❌ Foreign account: must declare to NBB
❌ Securities lending enabled by default
❌ Foreign dividends withholding tax: must self-declare
❌ Foreign account: must declare to NBB
❌ Securities lending enabled by default
Trade Republic
German fintech — €1/transaction, but all tax your responsibility
Pros
✅ €1 per transaction (flat)
✅ Free automatic savings plans
✅ Intuitive mobile app
✅ Free automatic savings plans
✅ Intuitive mobile app
Cons
❌ TOB NOT automatic — must declare every month
❌ Capital gains tax NOT automatic
❌ Withholding tax: must self-declare
❌ Foreign account: must declare to NBB
❌ Capital gains tax NOT automatic
❌ Withholding tax: must self-declare
❌ Foreign account: must declare to NBB
⚠ Trade Republic is cheap but requires a lot of tax administration. Not recommended for beginners.
Interactive Brokers (IBKR)
Professional platform — ideal for experienced investors
Pros
✅ Lowest fees on the market
✅ Widest global choice
✅ Advanced professional tools
✅ Widest global choice
✅ Advanced professional tools
Cons
❌ TOB NOT automatic — mandatory monthly declaration
❌ All taxes to manage yourself
❌ Foreign account: must declare to NBB
❌ Complex platform — not for beginners
❌ All taxes to manage yourself
❌ Foreign account: must declare to NBB
❌ Complex platform — not for beginners
Decision guide
Which broker fits your profile?
👶 I am new to investing
Choose a Belgian broker that handles all taxes for you.
→ Saxo Bank or Bolero
Saxo is cheaper, Bolero is the best-known brand.
💰 I want to minimise fees
Accept more administration in exchange for lower fees.
→ DEGIRO (TOB handled) or IBKR
With IBKR, all taxes are your responsibility.
🤖 I want to invest automatically
Regular automatic purchases without manual intervention.
→ Saxo Bank (AutoInvest)
Only Belgian broker with full automatic purchases.
📊 I already use IBKR or TR
Use our free tracker to monitor your monthly TOB.
→ BeleggerGids Tracker
Free, automatic FIFO calculation, monthly DivTax summary.
Frequently asked questions
FAQ — Choosing a broker in Belgium
Do I need to declare a foreign account to the NBB? +
Yes. If you hold an account with a foreign broker (DEGIRO, Trade Republic, IBKR...), you must declare it once to the Central Contact Point (CCP) of the National Bank of Belgium, via your annual tax return. Belgian brokers are exempt.
Is DEGIRO safe for Belgian investors? +
DEGIRO is regulated by the AFM (Dutch regulator) and falls under the Dutch deposit guarantee scheme. Securities are held in a separate entity (SPV). Note: DEGIRO engages in securities lending by default in its terms — your shares may be lent to third parties.
Can I combine multiple brokers? +
Yes. Many experienced Belgian investors combine a Belgian broker (for tax ease) with a cheaper foreign broker (for certain markets or large orders). In that case, you must manage the tax yourself for the foreign account.
Which broker is cheapest for ETFs in Belgium? +
Among FSMA-licensed brokers, MeDirect is now the cheapest with €0 ETF commission, followed by Saxo Bank (€2/ETF). Among foreign options, Trade Republic (€1 flat), DEGIRO (€1–3) and IBKR are the cheapest. Note: low fees do not offset the extra tax administration. Calculate the total cost (transaction + taxes + time) before choosing.
Investing via a foreign broker?
Use our free TOB tracker to monitor your monthly declarations — automatic FIFO calculation, ready for MyMinfin DivTax.
No affiliate links · Independent content · Not financial advice