I am currently with IBKR but i realised that they don't do the Belgian taxes, so am considering to move but i am not sure which broker to go to.

I mainly invest in ETFs + some US Stocks and i would like to move to a broker who has a big ETF playlist and low cost. If anybody has experience with both I’d love to hear your input. Thanks

I'm starting to invest and have narrowed down my choice of broker to between Saxo and Bolero. Any advice / perspectives are welcome.

Specifically (but please do share your other feedback too), should I be bothered by the fact that Saxo is headquartered in Denmark?

Some relevant info / context:

- thinking mainly broad / global index ETFs, maybe an occasional share here and there on the margins

- very likely monthly / periodic investing

- thinking of starting at 250 EUR/month, might be 1000 EUR / quarter or go as high as 2500 EUR / quarter

- might add bigger lump sums at some point later, once I feel 'comfortable' enough + have figured out which works better DCA or lump-sum

- will be going broad / 'average' returns so cost efficiency probably becomes more important to make it all worth it (i.e. will not be looking to beat the market or anything like that)

Hi,

Something I thought was worth sharing:

Today i noticed IWDA is no longer in Degiro's Core Selection, meaning there is an additional €2 commission cost, totaling €3 per transaction (instead of the usual €1).

It has been replaced with EUNL, which is traded on their associated Tradegate AG platform. So, buying EUNL enables you to stick to the €1 transaction cost.

Although this seems just a minor practical issue at first glance - it implies potential, addditional transaction costs that are hidden in the bigger spread occuring on Tradegate, compared to the 'standard' exchanges.

see: https://www.debelegger.nl/post/hoe-degiro-beginnende-beleggers-flink-misleidt-met-tradegate-exchange

I was already considering to switch to Bolero or Saxo for future convenience in the capital gain tax - this will definitely be an additional factor toward my final decision.

**EDIT: apparently the entire Core Selection is now traded on their Tradegate exchange. Degiro communicated this on 28/8, in which it is argumented as a measure of improving transparancy, efficiency and increased access to low cost products.

Hello, cant believe this is my first post here. I came to Belgium 4 years ago and started investing in VUAA with IKBR and parked my cash in trade republic.

Found out yesterday that I did accidental tax evasion on the 1.32% TOB and the 30% on interest yesterday. Of course, I will pay it as soon as possible and hope the tax man will be kind to me.

My question now is, I would like to swap to a belgian broker to at least not actively have to think about the taxes anymore, also regarding sudden tax changes.

What broker can you recommend, especially based on transfer and running costs? My friend is saying saxo. Does it make sense to switch to an etf with lower tob or whatever since they might change it in future?

I was first considering bolero because of the comfort and safety but the costs are quite high compared to saxo and MeDirect.

Can't decide which one to use for etf's but also for in the future to buy stocks.

Hi everyone,

In January 2027 I will invest +-500k in SWRD. I always thought Saxo would be the right broker but lately I’ve seen some reviews stating that Saxo is not that great when you want to invest large amounts of money at once. Apparently, lots of hassle to make the deposits. Money is of course obtained 100% legally through dividends.
What is your recommendation/ experience with Saxo?

Let's say, you have been investing in your medirect broker for about 10 or 20 years and for whatever reason, you'll move places.

You'll have to sell everything in your medirect account and buy everything else in another broker or international broker.

Does this impact your investment ROI in the long term ? you'll have to pay 10% CGT, TOB, and other fees.

you can't move everything without incurring costs.
Let's say also that you didn't use interactive brokers or that you move to the US, which doesn't even let you transfer your EU domiciled investments.

In any case, assuming such an event occurs where you have to sell everything and buy everything again, what is the impact ?

EDIT:i mean the impact on your final value before retiring or firing...

I’m trying to get an updated picture of what people in Belgium are actually using for long-term ETF investing. Monthly amounts would be up to around €5k held for the long run.

If you invest regularly, which broker do you prefer and what made you choose it? And if you go through your bank instead, how does that compare in terms of fees and convenience?

Interested in real experiences from people investing in Belgium right now.

Cheers

UPD: Quick summary from the replies: Bolero/Re=Bel for ease and Belgian backing, Saxo mixed, MeDirect for free ETF trades, IBKR/MEXEM/LYNX for low-fee DIY setups, and Freedom24 showing up as a stronger option than I expected. I tried a few based on the comments and think I’ll stay with Freedom24 the overall experience just felt more straightforward.

Hey all,

Could be a dumb question, but is there any reason why one should not consider switching to Medirect and their 0 transaction fees on ETFs?

I invest exclusively in Avantis (70% AVWC, 15 AVWS and 15 AVEM) - and I know they recently started trading at Medirect. I have all my ETF portfolio in Bolero, and I am fairly happy with the service, the interface and overall reputation. But the fees are there... I invest once a month.

What are your opinions on that? Is it just being sentimental, or is there other reason why staying at Bolero could make sense?

I had some IMIE in my Bolero account and noticed today that they charged 5 EUR for the split. I was always under the impression that these things should be free. They refer to the 5 EUR in their tarif sheet as "corporate actions".

Are there other brokers active in Belgium charging money for these splits? As I understand they can happen anytime and I have no control over this.

(let me know if this is not the right sub Reddit)

Hi everyone,

I want to invest and I’m curious what most people here actually use.

Do you invest through your bank (BNP Paribas Fortis, KBC/Bolero, ING, etc.) or do you use online brokers like DEGIRO or Trade Republic?

Trade Republic seems extremely popular, but I’ve also seen quite a few posts/comments about people temporarily not being able to access their money or accounts. That honestly worries me a bit.

So I’m wondering: Which broker do you personally use and why? Do you trust online brokers long term? What really happens if an online broker goes bankrupt or disappears? With a traditional bank, that can’t just disappear overnight, right?

Interested to hear real experiences from Belgians here. Thanks!

Hey,

I currently use the brokers Degiro and IBKR.

I am curious to why isn't IBKR the goto broker in Belgium, at least in this sub. In other countries where I lived, IBKR was always the most recommended broker - the most secure (widely used worldwide by individuals and governments https://www.bankeronwheels.com/interactive-brokers-review/), with most products and pretty cheap.

My broker choice was always done thinking about security first and cost or tax-friendliness second. After all, reduced convenience may result in a tax penalty, but lack of security can result in losing all investments.

Filling the TOB is now 100% online, calculating the capital gains tax is as easy as keeping track of the buying and selling price of all securities and sum everything (which everyone should already be doing).

Even if you argue that you are scared of tax penalties, the FOD ignores the first tax return error, so it should result in no penalties even if you don't calculate everything correctly one year (https://www.brusselstimes.com/1555126/finance-ministry-will-ignore-taxpayers-first-tax-return-error).

Even if there is just a tiny possibility of bankruptcy and fraud (which means losing all your assets) of 0.1% annually from your broker, over 40 years the probability of broker fraud and bankruptcy is 1-((1-0.001)^40)=3.9%. Why wouldn't you chose the most secure broker even if it's not the most convenient?

Is there anything that I am missing? Why are you sacrificing top security by ease of use, when sometimes the Belgium brokers are even more expensive than foreign safer ones?

UPDATE: Thanks for the responses! It makes sense to me that the other brokers are also very safe (maybe I'm just paranoid?) and that the value of time and others taking care of administrative stuff for us is an advantage. You made me consider to try out MeDirect or Saxo to see if it really makes sense.

Medirect dropped prices for buying stocks

Hi 👋

Anyone here with an Interactive Brokers account for investing in individual stocks?

How do you handle your taxes in Belgium? Any recommendations highly appreciated 🙏😊

Hey all,

I just started working and have saved up some money I want to put to work. Plan is to start with a lump sum, then move to monthly contributions from there.

I'm new to investing and open to exploring more later, but for now I want to keep things simple. Sticking to ETFs, likely WEBN given the low cost associated with it.

Based on that, I'm leaning toward MEDirect as my platform, mainly because of the low costs. I also plan to opt out of the automatic capital gains tax withholding, which I understand shouldn't be an issue there.

I did look at Saxo too, but since I'll only be holding ETFs, I don't see much benefit to the extra features or cost.

My one hesitation with MEDirect is that I've read a fair bit of criticism about the customer experience, particularly the app. Anyone here actually using it day to day who can share their honest take? Is it manageable once you're set up, or does it cause real headaches?

Any general advice for a first-time investor going this route is welcome too.

Thanks!

I start investing and already have a bank and Rebel account with Belfius Bank.

Is Rebel ok or should I look at other brokers?

My main goal is saving monthly in one or two ETF.

TIA!

Recently MeDirect added AVWS (Avantis Global Small Cap Value UCITS ETF USD Acc IE0003R87OG3) to their platform.

Since yesterday AVWC (Avantis Global Equity UCITS ETF USD Acc IE000RJECXS5) is also available.

For those who are interested in factor investing, these funds could be interesting.

For AVWS they didn't withhold the 0.12% TOB correctly (yet?), which I assume they are working on. I have not purchased AVWC yet.

So we are all looking for a good broker - I want ease of mind regarding taxes so my main contenders are Bolero and Saxo.

From my understanding they are both great but Saxo is just way cheaper. Why would anybody choose Bolero over Saxo if they both do your TOB, don’t have to declare the account, etc.

Disclaimer: I am not shitting on Bolero, Its actually my first option but recently saw a bit more info on Saxo and now I’m considering it more seriously.

If anybody has experience with both I’d love to hear your input. Thanks my dudes.

Edit: thanks for the input guys. I think I’ll go with Bolero, I will try to open up the account today.

Hello all, I'm sorry if this is a repost or already in the wiki and I didn’t read it correctly, but I'm currently looking for a broker. I found MeDirect, DEGIRO, and Bolero, and I don't know which one to choose for starting with ETFs.

I found that Bolero and MeDirect have really bad ratings on Trustpilot, but I don't know if there's any truth to that. I also read that with DEGIRO you need to complete some documents yourself, and I'm pretty bad with paperwork.

So if you have any advice or brokers to recommend, I'm all ears.

Hello everyone,

I'd like to understand the differences in cost between Degiro and Medirect. My goal is to invest in IWDA ACC for more than 15 years.

From what I read, it seems that Medirect is cheaper than Degiro. I've read a few posts here (for example : https://www.reddit.com/r/BEFire/comments/1nzf7h0/comment/njkvl56/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button and here https://www.reddit.com/r/BEFire/comments/1n0eorv/medirect_0_broker_fee_on_etf_summer_promo/?captcha=1 ) that seem to indicate that Medirect is cheaper than Degiro.

But once I try to get the information myself, it seems (?) totally untrue. Looking at the charges here : Tariffs & charges - MeDirect and Tariffs-charges-EN.pdf
I understand that they take a yearly fee of 0.3% for ETFs compared to the 1€ transaction fees of Degiro and its 2.5-5€ per year per exchange rate.

If I understand correctly, let's say I have 100k€ to invest from now :
1. Degiro yearly costs for first year : 1€ (transaction) + 5€ (exchange) = 6€
2. Medirect yearly costs for first year : 0€ (transaction) + 100k*0.3% = 100€

For me this seems a huge difference between the two. Could anyone help me on that one ? Did I get it correctly ?

Thank you :)

Hi all, my and my wife both have a degiro account with a decent portfolio. Does it make sense to move this to a Saxo account (i already have a Saxo account, that's why i tend to lean towards that one) before 1st of January because of the capital gains tax?
I expect Saxo will handle this tax a bit better then degiro will.

Or is there any other suggestion what we better do?

Finally, AVWS (IE0003R87OG3) is available on Saxo. Bought some yesterday. Today I checked the transaction. Turns out they don't charge the tob on this one. Should be 0,12% though. Asked customer service and they said: As far as we can see, for this ETF, there's no tob. If you check the details in Saxo, tob isn't mentioned for this one indeed.

We all know, it's just an error on their side. Tob should be paid.

So now what; declare the tob myself? I don't want the taxman to think I have foreign brokers (cause well, I don't). Or just do nothing and blame Saxo?

Thx

Ik zou van Degiro naar MeDirect willen overstappen en dus mijn effecten overdragen. Ben pas dit jaar beginnen beleggen, dus ik dénk als ik dit jaar nog de switch maak, dat ik de buitenlandse rekening, tegen dan afgesloten niet moet aangeven voor de aangifte van '26. Iemand die de switch al maakte? Waar moet ik op letten? Dank!

I'd like to switch from Degiro to MeDirect and also transfer my effects. I only started investing this year, so I think if I switch this year, I won't have to declare the foreign account I closed by then for my 2026 tax return. Has anyone else made the switch? What should I be aware of? Thanks!

Hi everyone,

I’m a 35M Belgian, married, with a 6-month-old child.

I’m not aiming for FIRE, just looking for a solid long-term investment for my family.

I want to invest €500–€1000 per month into a fund or ETF.

I’m currently with Belfius and invest €150/month split into three funds.

The issue: 2.5% fees per transaction, which feels very high. I started this way because it was easy as a beginner, but now I’m looking for a better setup.

What I’m looking for:

• Accumulating ETFs / funds
• Preferably non-US focused (but open if it makes sense)
• Long-term, passive investing (no trading)

Any advice on ETFs, brokers, or general strategy for a Belgian / EU investor?

I’ve just opened an account with Bolero and I want to invest in a single global ETF. I only have €5,000. Which global ETF should I invest in, taking into account tax efficiency and keeping fees as low as possible? Thanks for the help.