IC Markets
Fusion Markets
Our Rating
8.50
8.17
Review Of IC Markets
Fusion Markets Review
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
Lowest Commissions

Regulations and Licenses

Feature
IC Markets
Fusion Markets
ASIC (Australia)
CYSEC (Cypus)
VFSA (Vanuatu)

Brokerage

Feature
IC Markets
Fusion Markets
EUR/USD Avg. Raw Spread
0.02
0.02
GBP/USD Avg. Raw Spread
0.23
0.09
AUD/USD Avg. Raw Spread
0.17
0.50
EUR/USD Standard Spread
0.62
-
EUR/USD Fixed Spreads
-
-
Commissions (USD Base)
$3.50
$2.25
Minimum Deposit
$0
$0
Swap Free Account
No Inactivity Fees
Funding Methods
15+
12+
No Funding Fees

Markets and Instruments

Feature
IC Markets
Fusion Markets
Currency Pairs
61+
90+
Cryptocurrency CFDs*
18+
8+
Index CFDs
16+
10+
Share CFDs
100+
-
Commodities CFD
26+
16+
Stockbroking
-
-
Retail Max Leverage (Australia)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max Leverage (Australia)
500:1
500:1
Retail Max. Leverage (Europe)
Major Pairs 30:1
Minor Pairs 20:1
-
Pro. Max. Leverage (Europe)
500:1
-
Retail Max. Leverage (With offshore regulators)
500:1
500:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
IC Markets
Fusion Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account
Unique Feature
ECN pricing
Industry low commission fees

Overall

IC Markets
Fusion Markets
Our Rating
8.50
8.17
Review Of IC Markets
Fusion Markets Review
Visit Site
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Do IC Markets Or Fusion Markets Have The Lowest Fees?

IC Markets is the winner for the lowest fees, with costs in both their standard and commission-based account types lower than what Fusion Markets charges.

The standard account (or classic account in the case of Fusion Markets) is a commission-free account. However, this means that spreads are wider since the cost of trading is built into the bid-ask spread.

The second account is an STP account, this account has lower spreads as there is a commission charge for each lot you trade. A Straight-Through-Processing (STP) account connects traders directly with liquidity providers and as a result, spreads can be kept at market price.

STP style accounts are known as Raw Spread account with IC Markets and Zero account with Fusion Markets respectively. Scalpers and high-volume traders gravitate towards STP accounts due to the greater speeds at which trades can be executed compared to the standard account.

IC Markets Has The Lowest Standard Account Spreads

IC Markets offers the lower minimum spread on their standard account, with a minimum of 0.6 pips on the EUR/USD. This compares favourably with Fusion Market’s minimum of 0.8 pips.

IC Markets spreads on their commission-free accounts have some of the lowest average spreads in the industry. Lower than even Market Maker brokers who specialise in commission-free trading.

Standard Account Spreads
0.62 0.77 1.27 0.83 0.74
0.82 0.85 0.99 0.89 0.83
0.75 0.85 1.40 1.19 0.86
0.70 1.30 1.30 2.20 1.40
0.80 0.90 1.70 1.80 0.80
1.20 1.10 1.10 1.70 1.40
1.30 1.50 1.80 2.00 1.30
1.10 1.20 1.40 1.50 1.20
1.30 1.40 1.50 1.50 1.40
1.20 1.20 1.40 1.40 1.20
1.20 1.20 1.40 1.40 1.40
1.30 1.50 1.50 1.70 1.70
1.30 1.70 2.10 1.40 1.50
1.20 1.40 1.40 1.50 1.20
1.40 1.80 1.66 1.52 1.38

Data taken from broker website. Accurate as at 01/05/2022

View IC Markets Review >>Visit IC Markets >>

Fusion Markets Has The Lowest STP Account Spreads (Also Known As ECN Or Raw Account)

Both IC Markets and Fusion Markets have a minimum spread of zero pips for the EUR/USD pair with their STP Accounts. You will also find both brokers average around 0.02 pips to 0.10 pips for the EUR/USD. On this basis, you can be sure both brokers have some of the best spreads in the industry for this most traded currency pair.

When it comes to other currency pairs, Fusion Markets list superior spreads on their website compared to IC Markets as shown in the comparison table below.

While the average spreads the brokers publish on their website is only a guide, the more important factor is how much you pay when you trade. Both brokers are industry-leading when it comes to low spreads.

One thing to consider is the superior commission Fusion Markets have. Which is another cost you need to consider (in addition to the spread).

ECN Broker Spreads
0.14 0.25 0.02 0.27 0.17
0.03 0.11 0.02 0.19 0.05
0.30 0.40 0.20 0.40 0.30
0.26 0.47 0.17 0.40 0.24
0.20 0.30 0.20 0.40 0.20
0.50 0.60 0.30 0.50 0.50
0.30 N/A 0.30 0.50 0.40
0.20 0.83 0.44 0.40 0.42
0.24 N/A 0.17 0.54 0.30
0.30 0.70 0.20 0.50 0.40
0.30 1.10 0.10 0.60 0.50
n/a 0.30 n/a 0.60 0.50
0.48 1.21 0.33 0.92 1.11

Data taken from broker website. Accurate as at 01/05/2022

Fusion Markets Has The Lowest Commission Fees

Fusion Markets charge lower commission costs on their STP account compared to IC Markets. While Fusion Markets charges AUD/USD 4.50 round-turn per standard lot, IC Markets charges $7.00, meaning that for every 100,000 units you trade, it will be $1.25 cheaper on Fusion Markets to open and close your position. This represents a significant saving if you are a high volume trader.

Commissions on other currencies also favour Fusion Markets. Fusion Markets charge GBP 3.55, EUR 4.05 and SGD 6.20 round-turn which compares favourably with IC Markets’ commissions of GBP 5.00, EUR 5.50, and SGD 9.00.

As a result, Fusion Markets has been awarded the Compare Forex Brokers’ 2022 award for being the broker with the lowest commission fees.

View Fusion Markets Review >>Visit Fusion Markets >>

IC Markets Vs Fusion Markets Reputation?

Both Are Highly Reputable Brokers

IC Markets was founded in May 2007, while Fusion Markets was founded fairly recently, in December 2017. With over a decade of trading operations, IC Markets is a highly reputable broker and one of the largest forex brokers in the world.

IC Markets Is The More Popular Broker

IC Markets received over 3.2 million visits in Jan 2022, reflecting their brand awareness with traders around the world. In the same period, Fusion Markets had 331 thousand visitors, far less than IC Markets.

This difference is even larger when looking at TrustPilot reviews, with IC Markets receiving 20 thousand plus reviews in comparison to the 628 reviews of Fusion Markets.

IC Markets Is Regulated In More Regions

When choosing a broker, you should choose a broker that is regulated in your country.

IC Markets and Fusion Markets, as Australia-based brokers, are both regulated by ASIC (Australia).

Outside Australia, IC Markets can offer their trading services across Europe as they are regulated by CySEC, the financial regulator of Cyprus. Fusion Markets have no such regulator for Europe.

Traders outside the above regions will sign up with the brokers’ offshore subsidiary. This means if you sign up with Fusion Markets, you will use Fusion Markets subsidiary with VFSC (Vanuatu). With IC Markets you will have FSA regulation which is the financial regulator of Seychelles.

Therefore we recommend European traders use IC Markets instead of Fusion Markets. Australian and international traders can feel safe choosing to trade with either broker, as both are adequately regulated.

View IC Markets Review >>Visit IC Markets >>

What Broker Has A Lower Minimum Deposit?

Neither IC Markets nor Fusion Markets require a minimum deposit for their account types. That said, you will need to make a deposit to meet initial margin requirements. Most traders find $200 is a good starting point.

Regardless of which broker you choose, you won’t need to pay funding fees if you make a deposit or withdrawal. Just note that there may be charges from the funding provider. This is especially the case when making a transfer from an international bank to an Australian bank.

Deposit methods available with both brokers include Visa/Mastercard, POLi & BPay (Australia), Bank transfer, PayPal, Neteller, Skrill and FasaPay. Other methods available with Fusion Markets include Interact for Canada, Jeton Wallet, Perfect Money and even Cryptos if you prefer a crypto wallet.

Overall, this category is given to Fusion Markets, because they offer more funding methods.

View Fusion Markets Review >>Visit Fusion Markets >>

Which Broker Has The Best Selection Of Platforms?

IC Markets Has The Best MetaTrader 4 Offering (But It’s Close)

Both IC Markets and Fusion Markets offer MetaTrader 4 (MT4). MT4 is the most popular trading platform in the world with traders, and it is available from many top brokers.

MT4 provides traders with all the essential tools to help you succeed when trading forex. You have access to 9 chart timeframes, 30 technical indicators and 4 pending order types.

MT4’s vast community of traders also means that you have access to the largest library of Expert Advisors (EAs) compared to other forex trading platforms. This allows you to easily find the right EA for automation, charting indicators or signals trading.

Reasons to choose IC Markets for MT4

  • Social trading – IC Markets allows you to use Myfxbook, MetaTrader Signals and ZuluTrade for social trading. Fusion Markets has similar but does not have ZuluTrader but does have DupliTrade for copy trading.
  • IC Markets include MT4 Advanced Trader Tools. This is a suite of 28 Expert Advisors to help you with your trading. This includes extra indicators, trading terminals and other economic calendars.
  • Autochartist – IC Markets includes Automchart for deeper market analysis.

With more tools and apps to use with MT4, IC Markets really helps you make the most of your MetaTrader trading experience.

IC Markets Has The Best MetaTrader 5 Offering

MetaTrader 5 (MT5) is an upgrade on MT4, with the new platform offering traders more technical indicators, tools, and even 64-bit processing for extra processing power.

Unlike MT4, MT5 is designed for both decentralised and centralised trading. This means you can trade shares, which is not available on MT4. With 1600+ stocks across ASX, NASDAQ and NYSE, IC Markets range of shares easily trumps the 50 US stocks Fusion Markets offer.

We recommend IC Markets as a better MT5 broker compared to Fusion Markets. On MT5, IC Markets offers over 3,500 instruments for you to trade, dwarfing the 168 products offered by Fusion Markets.

To help your trading, IC Markets allows you to use the same trading tools available with MT4. These tools include Myfxbook, ZuluTrade, MT4 Advanced Trader Tools and AutoChartist.

IC Markets also offers a more accessible Virtual Private Server (VPS) access, allowing you complimentary use if you trade 15 standard lots or more per month, compared to Fusion Markets which requires that you trade 20 standard lots.

Overall, we recommend IC Markets, with their vast product range and other trading tools superior to Fusion Market’s offering.

View IC Markets Review >>Visit IC Markets >>

Which Brokers Offer A Swap-Free (Islamic) Account?

By default, IC Markets wins this category since Fusion Markets does not have a Swap Free account.

Swap-free accounts mean no interest costs are applied if you hold your position overnight. As there is no riba, Islamic traders may be able to engage in CFD trading and still maintain compliance with sharia law.

IC Markets offer Islamic versions for both their standard and Raw Spread trading account. Instead of paying swaps (overnight interest costs), IC Market charges an administration fee every time you hold your position past closing. Most major pairs will cost USD 5 however this will vary.

Therefore, if you are looking for an Islamic or swap-free account, you should choose IC Markets over Fusion Markets.

View IC Markets Review >>Visit IC Markets >>

About the author: Justin Grossbard

Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.

Compare IC And Fusion Markets With Other Brokers