Robo Investing in Belgium: What the Landscape Looks Like in 2026
When I first wrote about robo investing in Belgium in early 2022, nine providers were in the market. I looked at them all, compared fees, read the fine print, and then did absolutely nothing with it. Never opened an account, didn’t bother with any of them.
Four years later, I’m revisiting the topic. More than half of the providers from my original overview are gone. The ones that survived now tell an interesting story about what (Belgian) investors actually want. My view on whether robo investing makes sense for a FIRE investor hasn’t changed much, but the reasons why did.
What the Class of 2022 Looks Like Today
Out of the nine providers I listed in 2022, five have since shut down or been discontinued. That’s less than I expected honestly. I’d thought they’d all be gone by now.
- Matti by Bolero (KBC) closed in April 2024. KBC quietly pulled the plug on their “intelligent investment assistant” after four years. Customers had their ETFs transferred to a regular Bolero account.
- Birdee (BNP Paribas) closed in June 2025. Originally created by fintech Gambit and later acquired by BNP Paribas Asset Management, Birdee was one of the original players. BNP liquidated all investments and returned the cash to customers. Curvo wrote a transition guide for displaced Birdee users.
- Lucy (BNP Paribas Fortis) is no longer listed as an active product in 2026 but unlike in the beginning, it got quietly discontinued alongside the Birdee shutdown.
- Aion Bank ETFMatic is a though one as you can’t find much about it online anymore other than the fact that Aion has moved away from investment products alltogether. According to the blog post, Finax acquired ETFMatic mainly for their proprietary Investment-as-a-Service technology. ETFmatic as a product got merged with Finax’ own investment platform and ETFMatic now only exists as the aforementioned, but now white-labelled, Investment-as-a-service or IaaS (not to be confused with the more commenly know IT acronym Infrastructure-as-a-Service).
- Dexxi (Indexus) has wound down due to a take over by Semmie groep which is now (in April 2026) being prosecuted for misleading investors by Dutch Authority on Financial Markets.
- BinckBank ‘Laten Beleggen’ is gone due to the acquisition by Saxo Bank and the robo offering didn’t survive the transition.
In short, every bank-owned or bank-backed robo products from 2022 are either gone or significantly scaled back. (Some) independent fintech’s are the ones still standing.
Who Is Still in the Market in 2026?
Four providers are actively running the robo investing scene in Belgium as of June 2026:
| Min. investment | Annual fee | Automated investing | TOB exempt | Fractional shares | |
|---|---|---|---|---|---|
| Curvo | €50 | 0.6% – 1% | Yes | Yes | Yes |
| Indexa Capital | €2,000 | 0.4% – 0.85% | Yes | Yes | Yes |
| Easyvest | €5,000 | 0.4% – 1% | Yes | Yes | No |
| MeDirect MeManaged | €5,000 | 1.3% (flat) | Yes | Yes | Yes |
Curvo
Curvo has become the dominant name in Belgian robo investing scene. A Belgian engineer frustrated with the complexity of DIY investing built it around 2019–2020, and it’s now the go-to recommendation in Belgian FIRE and personal finance circles. The €50 minimum and automated monthly investing make it accessible to pretty much anyone, and the TOB exemption is a practical win. Fees run from 1% on amounts below €50,000 down to 0.6% above €250,000.
The downside: you have no say in what you invest in. The portfolio is chosen for you, and you can’t change it. For a hands-off investor, that’s the whole point. For someone who’s already formed views on ETF allocation, it’s probably a bit limiting.
Indexa Capital
A Spanish robo advisor with Belgian roots, one of the founders is Belgian, and they expanded here from Spain. They’re the cheapest option in the current market at 0.4% to 0.85%, with a minimum of €2,000. The catch is that the platform is still only available in French or Spanish. For Flemish investors, that’s a real problem.
Easyvest
The original Belgian robo advisor, still independent, with Belfius taking a minority stake in 2024. They’re targeting wealthier clients — the €5,000 minimum makes that clear. Fees get competitive at higher amounts. They also offer products specifically for the self-employed and business owners, which is worth knowing if you’re freelance.
MeDirect MeManaged
MeDirect relaunched their managed investing product as MeManaged. Simple enough: four portfolios, all using BlackRock funds. But the 1.3% flat fee is the most expensive in the market and there’s no reduction for larger amounts. Hard to justify when cheaper options exist.
Why the Bank Products Failed
Matti, Birdee, and Lucy shutting down isn’t just an interesting trivial fact. It should tell you something about how Belgian banks actually think, or rather thought, about these products.
De Tijd reported in April 2024 that former Matti users found the robot’s investment choices “sometimes incomprehensible” and that returns were generally mediocre. KBC refused to share how many customers it had or how much was invested. When they pulled the plug, they redirected users to Kate, KBC’s digital assistant, and to actively managed KBC funds with higher fees than Matti had charged. A seamless transition for the bank’s fee income, less so for the investor…
BNP Paribas Fortis was equally candid about Lucy: “Our robo advisor Lucy was a sort of laboratory in which we learned a lot.” That is a polished way of saying it didn’t work. They cited stricter regulations making Lucy “too cumbersome”, though given the timing it reads more like a convenient exit.
It’s funny to look at their post that launched the product:
The underlying problem wasn’t the regulation for banks, they have a lot of that and can still do business just fine. These products offered limited added value at a price that was hard to justify next to simply buying an ETF yourself. They were built to keep assets inside the KBC or BNP Paribas ecosystem, tick the “digital product” box, and capture fee revenue. When they failed to attract meaningful assets, there was no reason to keep funding them.
Curvo and Easyvest survived because they had no choice. They don’t have a large bank absorbing their losses if the product doesn’t work. That focus shows.
One New Complication: Capital Gains Tax
This didn’t exist when I wrote the original post. Belgium introduced a capital gains tax at the end of 2025 and effective as of January 1, 2026, applying a 10% tax on investment gains above a certain threshold per person (so a two person household gets an exemption of €20K, which isn’t nothing at least).
It doesn’t completely change the picture, but it does make the tax handling inside a robo advisor slightly more valuable. You’re not manually triggering taxable events every time you rebalance.
The TOB exemption that Curvo and Indexa Capital carry is also worth noting here. Every time you buy or sell ETFs yourself through a broker, you pay the Belgian transaction tax. The robo advisor handles that behind the scenes.
Why I Still Haven’t Used a Robot
In 2022 I researched this way of auto-investing in Belgium for the first time and never pulled the trigger. In 2026, same story. I don’t think that’s wrong nor do I think those that do invest with them are idiots. It’s worth being clear about why.
The trade-off is simple: you pay somewhere between 0.6% and 1.3% per year in management fees on top of the underlying ETF costs, in exchange for not having to think about any of it. For a FIRE investor with a long horizon, that fee drags. On a €100,000 portfolio, 1% per year is €1,000 per year not compounding into your retirement.
Buying VWCE or IWDA through a broker like Bolero or DEGIRO really isn’t that complicated once you’ve done it once. Just like Curvo you login to a (usually) user-friendly interface and do a couple of simple instructions, et voilà! On top of that, you learn the Belgian tax rules, you set up a recurring buy, and you mostly leave it alone. The fee savings over 20 or 30 years can be a nice business class plane ticket (and you don’t to get an Amex for it 🙂 ).
But there’s a situation where robo investing wins. If you’re someone who would otherwise not invest at all because the DIY route just doesn’t scratch your itch, then 1% a year is a very fair price to actually get started. Curvo’s automated monthly investing removes the friction that keeps most people on the sidelines. That matters more than the fee in the early years. Afterall, time in the market beats timing the market.
In summary:
- Where it makes least sense: When you’ve got a solid portfolio yourself, clear habits, and a view on what you want to hold. At that point you’re paying for a service you no longer need.
- Where it makes most sense: At the beginning, when you still need to building a habit of (robo) investing. That’s more important than optimizing the fee, or if you’ve got no interest in ever learning the mechanics and just want it handled but do like to juicy euro’s.
The Ultimate 2026 Comparison: Then vs Now
| 2022 provider | Status in 2026 |
|---|---|
| Birdee (Gambit / BNP Paribas) | Closed June 2025 |
| BinckBank ‘Laten Beleggen’ | Discontinued (Saxo acquisition) |
| BNP Paribas Fortis Lucy | Discontinued |
| Bolero Matti (KBC) | Closed April 2024 |
| Aion Bank ETF Matic | No longer active |
| Dexxi (Indexus) | Wound down |
| Easyvest | Still active |
| MeDirect (MeManaged) | Still active (relaunched) |
| Keytrade KEY Private | Active |
| Curvo | Leading provider; wasn’t in the 2022 table |
| Indexa Capital | New entrant; wasn’t in the 2022 table |
So, Where does Robo investing Stand in 2026
The Belgian robo investing market has consolidated hard. Curvo, Easyvest, Indexa Capital, and MeManaged are what’s left.
For someone starting out who wants a hands-off approach, Curvo is the obvious place to start:
- Low minimum
- Automated monthly investing
- TOB-exempt portfolios
Indexa Capital is the cheapest if you don’t mind French-only.
For FIRE investors already running their own portfolios: the fee drags slows down your gains so DIY through a broker remains the better long-term call. But if the choice is using robot advisors or doing nothing, then ‘robo’ wins.
The most interesting part of this entire exercise for me isn’t who’s left but who’s gone. Belgian banks launched robo investing products when it was fashionable and shut them down when it became inconvenient. The independents are still here and show it’s (relatively) profitable.
What comes after robo investing?
Robo advisors automate the boring part of the investing. The latest sales pitch on town goes further: AI investing, of course! It supposedly picks, times and trades for you.
Whether that’s a genuine next step, robo advice with a 2026 sticker on it, or worse, it’s a sure fire way to zero deservers it’s own post… So that one is obviously in the works 😉
If you want it in your mailbox, the mailing list is the place to be -> *points towards the side bar, or down for mobile users *wink wink*
Have you used a Belgian robo advisor? Did you go DIY or stick with a robo? Let me know in the comments.