Our comprehensive comparison of Fusion Markets vs IC Markets dissects key areas like trading costs, Forex trading platforms, and regulations to help you choose the right Forex broker.
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Our comprehensive comparison examines the most important trading factors between Fusion Markets and IC Markets. Fusion Markets provides an ECN-style trading environment with lower spreads than average, while IC Markets is a no dealing desk broker offering low commission-free spreads.
Fusion Markets provides superior spreads for the EUR/USD and USD/JPY pairs, while IC Markets is more cost-effective for the GBP/USD and AUD/USD pairs. The broker Fusion Markets charges a lower commission on their STP account than IC Markets, offering significant savings for high-volume traders.
IC Markets provides a more comprehensive MetaTrader 5 (MT5) offering, with over 3,500 instruments available for trading, compared to Fusion Market’s 250 products. They offer standard and Raw Spread Islamic accounts, while Fusion Markets does not have a Swap Free account.
Fusion Markets and IC Markets offer different pricing models, with Fusion Markets providing no-commission variable spreads, while IC Markets has low commission tight spreads. Try the IC Markets vs Fusion Markets fee calculator below based on the most popular forex pairs and base currencies.
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 Markets’ 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.
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Standard Account Spreads
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|---|---|---|---|---|---|
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0.62 | 0.77 | 1.27 | 0.83 | 0.74 |
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0.93 | 0.92 | 0.98 | 1.08 | 1.02 |
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1.10 | 1.20 | 1.40 | 1.40 | 1.40 |
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0.90 | 1.30 | 1.40 | 1.40 | 1.40 |
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0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
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1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
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1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
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1.10 | 1.20 | 1.40 | 1.50 | 1.20 |
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1.10 | 1.20 | 1.30 | 1.30 | 1.30 |
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1.20 | 1.30 | 1.20 | 1.30 | 1.10 |
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1.70 | 1.60 | 1.70 | 2.00 | 1.60 |
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1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
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1.30 | 1.70 | 2.10 | 1.40 | 1.50 |
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1.12 | 1.64 | 1.30 | 1.30 | 1.38 |
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1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Fusion Markets offers the lowest spread for the EUR/USD and USD/JPY pairs, making it the most cost-effective option for trading these pairs. However, regarding the GBP/USD and AUD/USD pairs, IC Markets offers a slightly lower spread, making it a more affordable choice for these pairs.
| Forex Pair | Fusion Markets | IC Markets | Industry Average |
|---|---|---|---|
| EUR/USD | 0.93 | 0.62 | 1.35 |
| USD/JPY | 1.02 | 0.74 | 1.54 |
| GBP/USD | 1.08 | 0.83 | 1.68 |
| AUD/USD | 0.92 | 0.77 | 1.63 |
| USD/CAD | 0.98 | 0.85 | 1.93 |
| EUR/GBP | 0.98 | 1.27 | 1.69 |
| EUR/JPY | 1.31 | 1.3 | 2.04 |
| AUD/JPY | 1.4 | 1.5 | 2.31 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
The industry average spread tends to be higher than Fusion Markets and IC Markets for all pairs. This suggests that both brokers offer competitive rates, with Fusion Markets generally being the cheaper option for most forex pairs.
If you’re looking to trade EUR/USD or USD/JPY, Fusion Markets would be my recommendation due to their lower spreads. However, IC Markets offers a more cost-effective solution for GBP/USD and AUD/USD. When choosing a broker, it’s always important to consider the specific forex pairs you plan to trade.
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, which 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 accounts with IC Markets and Zero accounts with Fusion Markets, respectively. Scalpers and high-volume traders tend to prefer STP accounts as they allow for faster trade execution compared to standard accounts.
View IC Markets ReviewVisit IC Markets
Fusion Markets Has The Lowest STP Account Spreads (Also Known As ECN Or Raw Account)
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 lists superior spreads on their website compared to IC Markets, as shown in the comparison table below.
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ECN Broker Spreads
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|---|---|---|---|---|---|
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0.14 | 0.25 | 0.02 | 0.27 | 0.17 |
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0.03 | 0.11 | 0.02 | 0.19 | 0.05 |
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0.20 | 0.30 | 0.10 | 0.30 | 0.20 |
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0.40 | 0.60 | 0.10 | 0.40 | 0.20 |
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0.20 | 0.30 | 0.20 | 0.40 | 0.20 |
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0.50 | 0.60 | 0.30 | 0.50 | 0.50 |
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0.30 | N/A | 0.30 | 0.50 | 0.40 |
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0.20 | 0.83 | 0.44 | 0.40 | 0.42 |
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0.24 | N/A | 0.17 | 0.54 | 0.30 |
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0.30 | 0.70 | 0.20 | 0.50 | 0.40 |
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0.30 | 1.10 | 0.10 | 0.60 | 0.50 |
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n/a | 0.30 | n/a | 0.60 | 0.50 |
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0.77 | 1.41 | 0.44 | 1.13 | 1.23 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
While the average spreads the brokers publish on their website are 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 has. Which is another cost you need to consider (in addition to the spread).
Fusion Markets Has The Lowest Commission Fees
Fusion Markets charges lower commission costs on their STP account than 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 charges 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.
Verdict
IC Markets presents the lowest fees, with costs in both their standard and commission-based account types lower than what Fusion Markets charges.
View Fusion Markets ReviewVisit Fusion Markets
Both IC Markets and Fusion Markets offer MetaTrader 4 (MT4), MetaTrader (5), cTrader, and TradingView.
| Trading Platforms | Fusion Markets | IC Markets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | Yes | Yes |
| TradingView | Yes | Yes |
| Proprietary Platform | No | No |
| Mobile Trading App | Yes | Yes |
MetaTrader 4 and 5
MT4 provides traders with all the essential tools to help them succeed when trading forex. You can access 9 chart timeframes, 30 technical indicators and 4 pending order types.
MT4’s vast community of traders also means you can access the largest library of Expert Advisors (EAs) compared to other forex trading platforms. This lets you easily find the right EA for automation, charting indicators or signals trading.
Reasons to Choose IC Markets for MT4
IC Markets Has The Best MetaTrader 5 Offering
Unlike MT4, MT5 is designed for both decentralised and centralised trading. This means you can trade shares that are 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 offers.
We recommend IC Markets as a better MT5 broker than 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.
Verdict
Overall we recommend IC Markets, with its trading tools superior to Fusion Market’s offering.
Fusion Markets provides two account options: the ZERO Account with commissions, and the Classic Account without commissions. On the other hand, IC Markets provides the Standard Account with no commission, and the Raw Account featuring spreads from 0.0 pips plus a commission fee.
| Account Types | Fusion Markets | IC Markets |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | Yes |
| Fixed Spread Account | No | No |
| Islamic Account | Yes | Yes |
Fusion Markets’ accounts are as follows:
A closer look at IC Markets’ account types:
Swap Free Account
Both brokers offer a Swap Free account, which allows Islamic traders to engage in CFD trading without violating Sharia law, as no overnight interest costs are applied.
Instead of paying swaps (overnight interest costs), the brokers charge an administration fee every time you hold your position past closing. Most major pairs will cost USD 5; however, this will vary.
Verdict
It’s almost a tie in this category, but the spreads with each account from IC Markets were lower so they win this one.
As an ECN Forex broker, Fusion Markets offers advanced technology that allows for rapid execution of trade orders for all asset classes. IC Markets forex trading platforms use Equinix servers for fast order execution.
On Fusion Markets’ MT4 platform, trades are executed at 0.02ms speed. IC Markets’ cTrader uses the LD5 server in London, while MT4 and MT5 use the NY4 data center in New York.
| Broker | Limit Order Execution Speed (MS) | Market Order Execution Speed (MS) |
|---|---|---|
| Fusion Markets | 79 | 77 |
| IC Markets | 134 | 153 |
| Industry Average | 127 | 141 |
Regarding the overall trading experience and ease of use, Fusion Markets and IC Markets have unique strengths. Having personally tested various platforms, I’ve found that the user interface, tools, and features are crucial in enhancing the trading experience.
Verdict
While both brokers offer a top-notch trading experience, Fusion Markets slightly edges out with its faster execution speeds.
IC Markets has a trust score of 61, while Fusion Markets has 42. We assessed the regulations, reputation, and reviews of both brokers.
IC Markets Trust Score
Fusion Markets Trust Score
Regulation
As Australia-based brokers, IC Markets and Fusion Markets are regulated by ASIC (Australia). Outside Australia, IC Markets can offer their trading services across Europe as CySEC, the financial regulator of Cyprus, regulates them. Fusion Markets have no such regulator for Europe.
Traders outside the above regions will sign up with the brokers’ offshore subsidiaries. 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.
| Fusion Markets | IC Markets | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) | ASIC (Australia) CYSEC (Cyprus) |
| Tier 2 Regulation | ||
| Tier 3 Regulation | VFSC FSA-S (Seychelles) |
FSA-S (Seychelles) SCB (Bahamas) |
Reputation
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 received over 3.2 million visits in Jan 2022, reflecting their brand awareness with traders worldwide. Fusion Markets had 331 thousand visitors in the same period, far less than IC Markets.
Reviews
This difference is even larger when looking at TrustPilot reviews, with IC Markets receiving more than 30 thousand reviews compared to the 1,200+ reviews of Fusion Markets.
Verdict
IC Markets has achieved stronger scores across most of the factors evaluated, thereby winning this category.
Fusion Markets offers CFD trading on over 250 financial products, including forex pairs, cryptocurrency, commodities, and more. Meanwhile, IC Markets offers over 3,500 financial instruments.
Here’s a detailed comparison based on the data we’ve gathered:
| Product/Market | Fusion Markets | IC Markets |
|---|---|---|
| Forex | 90+ | 60+ |
| Shares | 100+ | 1600+ |
| Crypto | 14 | 25 |
| Commodities | 10 Metals (+ 3 Gold Crosses) (+2 Silver Crosses) 3 Energies 11 Softs |
4 Metals (Gold vs 6 currencies) (Silver vs 3 currencies) 8 Softs 3 Energies |
| ETFs | No | No |
| Indices | 10+ | 20+ |
| Bonds | No | 9 |
| Options | No | Yes |
Fusion Markets offers over 90 major, minor, and exotic currency pairs. This is a wide selection, especially compared to most brokers who offer 40-70 pairs, with IC Markets right in that bracket.
You can trade 20+ index CFDs on all three trading platforms on IC Markets with no commission fees, while it’s only 10+ with Fusion Markets.
From the table above, it’s evident that while Fusion Markets offers a competitive range of products and CFD markets, IC Markets slightly edges out with a broader selection in most categories.
Verdict
In terms of the sheer number of offerings, IC Markets provides a more extensive range of CFDs and Markets compared to Fusion Markets.
When it comes to educational resources, both Fusion Markets and IC Markets have made significant efforts to provide their traders with valuable tools and materials. Here’s a comparison based on our own testing:
Fusion Markets:
IC Markets:
Verdict
Based on our team’s scoring, IC Markets offers superior educational resources compared to Fusion Markets.
Both Fusion Markets and IC Markets offer customer support 24/7 via live chat, email, and phone, but only IC Markets has multilingual support.
IC Markets can be reached by CFD traders through various channels such as email, Skype, or phone. Their response time in Sydney is within 15 minutes, with even the most complex issues solved in a day based on our inquiries.
Similarly, traders can easily reach Fusion Markets’ customer support team through multiple channels, including live chat, phone, email, messenger, Twitter, or the website’s Contact Us section.
Here’s a detailed comparison of the key customer service features offered by both brokers:
| Customer Service Feature | Fusion Markets | IC Markets |
|---|---|---|
| Live Chat Support | Available 24/7 | Available 24/7 |
| Email Support | Responsive | Highly Responsive |
| Phone Support | Multiple Lines | Global Numbers |
| Educational Support | Webinars & Tutorials | Comprehensive Courses |
| Technical Support | Quick Resolution | Expert Assistance |
| Multilingual Support | No | Yes |
Verdict
IC Markets stands out with its multilingual, 24/7 live chat support, and highly responsive email support, making it the top choice for superior customer service.
Fusion Markets and IC Markets provide a variety of payment options for their global clients, with minimal or no deposit fees.
| Funding Option | Fusion Markets | IC Markets |
|---|---|---|
| Credit/Debit Card | ✓ | ✓ |
| Bank Wire Transfer | ✓ | ✓ |
| PayPal | ✗ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| Rapid Pay EUR/GBP (5) |
✗ | ✗ |
| POLi / bPay AU/NZ (5) |
✓ | ✓ |
| Klarna (2) |
✗ | ✗ |
Fusion Markets offers various payment options including bank transfers, credit/debit cards and e-wallets such as Skrill and Neteller to cater to its global client base.
| Fusion Markets Funding | Accepted Currencies | Depositing Processing Time | Fee |
|---|---|---|---|
| Credit Card / Debit Card | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | 2-3 business days | Free |
| PayPal | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | Instant | Free |
| Skrill | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | Instant | Free |
| Neteller | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | Instant | Free |
| Fasapay | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | Instant | Free |
| Jeton Wallet | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | up to 5 business days | Free |
| Perfect Money | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | up to 5 business days | Free |
| Online Naira | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | up to 5 business days | Free |
| Doku | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | up to 5 business days | Free |
| Cryptos | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | up to 5 business days | Free |
| Bank Wire | AUD, CAD, EUR, GBP, JPY, SGD, THB, USD | up to 5 business days | USD $20-$30 |
In addition to traditional methods, IC Markets also incorporates Thai and Vietnamese Internet Banking, providing more convenience for traders in specific regions.
| Fusion Markets Funding | Accepted Currencies | Depositing Processing Time | Fee |
|---|---|---|---|
| Credit Card / Debit Card | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | Free |
| PayPal | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF | Instant | Free |
| Skrill | AUD, USD, JPY, EUR, SGD, GBP | Instant | Free |
| Neteller | USD, AUD, GBP, EUR, CAD, SGD, JPY | Instant | Free |
| UnionPay | RMB | Instant | Free |
| Wire Transfer | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF | 2-5 business days | Free |
| Bpay | AUD | 12-48 hours | Free |
| Broker to Broker | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF, HKD | 2-5 business days | Free |
| POLI | AUD | Instant | Free |
| Thai Internet Banking | USD | 15-30 minutes | Free |
| Rapidpay | EUR, GBP | Up to 2 business days | Free |
| Klarna | EUR, GBP | Up to 2 business days | Free |
| Vietnamese Internet Banking | USD | Instant | Free |
Verdict
In terms of the variety of funding options, IC Markets slightly edges out Fusion Markets.
Fusion Markets has a lower minimum deposit of $0 vs $200 from IC Markets. These requirements apply to all traders from different regions using various payment methods.
Fusion Markets
| Minimum Deposit | GBP | USD | EUR | AUD |
|---|---|---|---|---|
| Credit Card / Debit Card | £0 | $0 | €0 | $0 |
| Bank Wire | £0 | $0 | €0 | $0 |
| Paypal | £0 | $0 | €0 | $0 |
| Skrill | £0 | $0 | €0 | $0 |
IC Markets
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £200 Minimum Deposit | $200 Minimum Deposit | €200 Minimum Deposit | $200 |
| Paypal | £200 Minimum Deposit | $200 Minimum Deposit | €200 Minimum Deposit | $200 |
| Bank Wire | £200 Minimum Deposit | $200 Minimum Deposit | €200 Minimum Deposit | $200 |
| Skrill | £200 Minimum Deposit | $200 Minimum Deposit | €200 Minimum Deposit | $200 |
Here’s a look at their recommended deposits:
| Minimum Deposit | Recommended Deposit | |
| Fusion Markets | $0 | $1,500 |
| IC Markets | $200 | $200 |
Verdict
Fusion Markets doesn’t require a minimum deposit for their account types. That said, you will need to make a deposit to meet initial margin requirements.
IC Markets is the winner because it consistently outperforms Fusion Markets in most of the key areas we’ve evaluated, from spreads and fees to educational resources. The table below summarises the key information leading to this verdict:
| Criteria | Fusion Markets | IC Markets |
|---|---|---|
| Lowest Spreads And Fees | ❌ | ✅ |
| Better Trading Platform | ❌ | ✅ |
| Superior Accounts And Features | ❌ | ✅ |
| Best Trading Experience And Ease | ✅ | ❌ |
| Stronger Trust And Regulation | ❌ | ✅ |
| Top Product Range And CFD Markets | ❌ | ✅ |
| Superior Educational Resources | ❌ | ✅ |
| Superior Customer Service | ❌ | ✅ |
| Better Funding Options | ❌ | ✅ |
| Lower Minimum Deposit | ✅ | ❌ |
For those just starting out in the world of trading, Fusion Markets offers a more approachable platform and a lower minimum deposit, making it a suitable choice for novice traders.
For seasoned traders looking for a comprehensive trading experience with a wide range of features and resources, IC Markets stands out as the superior choice.
IC Markets generally offers lower costs compared to Fusion Markets. The broker is renowned for its competitive spreads, often being among the lowest in the industry. For instance, traders can benefit from spreads as low as 0.1 pips on major currency pairs. For a more detailed comparison on broker commissions, you can check out this comprehensive guide on low commissions.
Both IC Markets and Fusion Markets offer MetaTrader 4, but IC Markets is often preferred for its advanced integration and additional tools. The platform at IC Markets is equipped with superior charting tools and a wider range of indicators. For traders specifically looking for the best MT4 experience, this list of top MT4 brokers provides a comprehensive overview.
IC Markets offers social trading features, allowing traders to copy the strategies of successful traders. Fusion Markets, on the other hand, doesn’t have a prominent social trading platform. Social trading can be a game-changer, especially for new traders looking to learn from seasoned professionals. For those interested in exploring more about this feature, here’s a detailed guide on the best forex social trading platforms.
Neither Fusion Markets nor IC Markets offer spread betting as a primary service. Spread betting is a unique form of trading popular in the UK and some other regions, allowing traders to bet on the direction of market movements. For those interested in spread betting, you might want to explore this list of the best spread betting brokers in the UK.
In my opinion, IC Markets is the superior choice for Australian forex traders. Both Fusion Markets and IC Markets are ASIC-regulated, ensuring a high level of trust and security for traders. However, IC Markets stands out with its comprehensive trading tools and competitive spreads. Additionally, both brokers have their roots in Australia, but IC Markets has consistently demonstrated a deep understanding of the needs of Australian traders. For a broader perspective on the best brokers in the region, you can refer to this guide on Australian forex brokers.
For UK traders, I believe IC Markets offers a more comprehensive trading experience. While both brokers cater to the UK market, it’s essential to note that IC Markets is FCA regulated, ensuring that UK traders receive the highest standards of protection and transparency. Fusion Markets, on the other hand, is not primarily based in the UK. IC Markets also offers a broader range of trading tools and platforms suitable for the UK market. For more insights on the best brokers for UK traders, here’s a comprehensive guide on the top UK trading platforms.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
Ask an Expert
Does Fusion Markets accept crypto?
Yes, Fusion Markets accepts crypto as a funding method.