One of the new forex brokers, Fusion Markets has shaken the industry by focusing solely on a no-frills, fastest execution speed and lowest costs offering. We visited, tested and reviewed the broker to see if the broker really stands up to their claims.
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With over 250+ available instruments for trading, this Australian forex broker offers a state-of-the-art technological solution for all of its clients. On the negative side, Fusion Markets lacks research tools, and CFDs on stocks are not available.
Fusion Markets was established in 2017 with Phil Horner (ex-Pepperstone) spearheading the company along with other veterans in the Australian forex industry. From the start, their vision is not just to be a low-cost provider but to give traders access to markets at a much lower cost than the standard.
True to their word of delivering low-cost forex trading, their commissions are 36% lower than their competitors. Their features are geared toward traders worldwide, with waived deposit fees, no minimum deposit requirement, copy trading, and free US Share CFD trading.
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Fusion Markets offers two pricing structures: a ZERO Account with spreads as low as 0 pips plus commission and a Classic Account with no commission spreads from 0.9 pips.
Standard Account Spreads
When it comes to the no-commission accounts, Fusion performs well, showcasing tight spreads and low commissions similar to their ECN account.
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Standard Account Spreads
|
|||||
|---|---|---|---|---|---|
|
0.93 | 0.92 | 0.98 | 1.08 | 1.02 |
|
1.10 | 1.20 | 1.40 | 1.40 | 1.40 |
|
1.12 | 1.64 | 1.30 | 1.30 | 1.38 |
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0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
|
0.80 | 1.00 | 1.00 | 1.60 | 1.00 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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0.90 | 1.10 | 1.50 | 1.50 | 1.00 |
|
1.30 | 1.70 | 2.10 | 1.40 | 1.50 |
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1.10 | 1.10 | 1.10 | 1.30 | 1.40 |
|
1.10 | 1.20 | 1.40 | 1.50 | 1.20 |
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1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
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1.40 | 1.60 | 1.60 | 1.60 | 1.50 |
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1.00 | 1.00 | 1.50 | 2.00 | 1.00 |
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1.20 | 1.70 | 1.50 | 1.40 | 1.30 |
|
1.20 | 1.10 | 1.70 | 1.20 | 1.60 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Raw Account Spreads
The broker offers significantly lower raw spreads than the industry norm for the majority of major forex pairs. For example, the EUR/USD spread averages 0.02 pips, which is lower than the rest of the brokers included in our comparative analysis below.
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
ECN Forex Spread Comparison
0.02
0.05
0.36
0.19
0.23
0.06
0.27
0.23
0.42
0.59
0.10
0.20
0.50
0.30
0.50
0.10
0.20
0.60
0.40
1.00
0.20
0.20
0.50
0.40
N/A
0.30
0.50
0.60
0.50
0.50
0.30
0.40
N/A
0.50
0.50
0.44
0.42
0.50
0.40
0.30
0.17
0.30
N/A
0.54
0.68
0.20
0.40
0.60
0.50
0.70
0.10
0.50
1.10
0.60
0.80
n/a
0.50
0.70
0.60
0.40
0.44
1.23
1.17
1.13
1.23
Commission Rates
A major perk of Fusion Markets is their remarkably low commission fees, priced at just $2.25 per lot, per 100k traded. This commission fee is significantly below the industry average and approximately 35% lower than the $3.50 charged by competitors such as Pepperstone and IC Markets.
| Commission Fee | USD | AUD | GBP | EUR |
|---|---|---|---|---|
| Fusion Markets | $2.25 | $2.25 | £1.78 | €2.03 |
| Pepperstone | $3.50 | $3.50 | £2.25 | €2.60 |
| IC Markets | $3.50 | $3.50 | £2.50 | €2.75 |
| EightCap | $3.50 | $3.50 | £2.25 | €2.75 |
| FlowBank | $3.25 | $3.25 | £2.50 | €2.50 |
| Global Prime | $3.50 | $3.50 | £2.70 | €3.10 |
Use the calculator below to compare Fusion Markets’ trading costs with competitors such as IC Markets and Eightcap, adjusting for trade size, currency pair, and base currency.
Calculate Your Trading Costs Below Total Fees Commission Spread Costs Total Total Fees Commission Spread Costs Total Total Fees Commission Spread Costs Total
Islamic Account
Fusion Markets offers a Shariah-compliant account for all countries except the places where regulations limit their services. Traders who adhere to religious principles can no longer have swap-charged accounts since the Islamic account is specifically designed for them.
Verdict on Fusion Markets Spreads
Fusion Markets stands out as the lowest-cost forex broker globally, offering the lowest commission rates and lower-than-average spreads on their raw account. Their no-commission account is competitive but not as good as the former.
Yes, Fusion Markets is a safe broker, with a score of 42 out of 100.
Regulation
Fusion Markets is regulated by the Australian Securities and Investment Commission (ASIC), a leading tier-1 authority. For international activities, the broker is licenced in Vanuatu and Seychelles.
| Fusion Markets Safety | Regulator |
|---|---|
| Tier-1 | ASIC |
| Tier-2 | |
| Tier-3 | VFSC FSA-S |
Clients who are not based in Australia will have to sign up with a subsidiary of Fusion Markets. This entity is Gleneagle Securities Pty Limited (“Fusion Markets EN”), which is a registered Vanuatu company (Company Number 40256) and is regulated by the VFSC.
Reputation
Fusion Markets was founded in Melbourne, Australia, in 2017, making it a relatively new broker.
Still, the broker gets searched on Google around 12,100 times a month.
Reviews
Fusion Markets has a high TrustPilot score of 4.6/5 from 1,206 reviews, showing that even with its young age, the broker delivers.
Verdict on Fusion Markets’ Trustworthiness
Fusion Markets’ overall trust score is low due to having only one tier-1 regulator, but the broker is still considered safe.
Fusion Markets offers CFD trading on over 250 financial products, including forex pairs, cryptocurrency, commodities, and more.
FX Trading
Fusion Markets offers 90+ Forex major, minor and exotic currency pairs. It is a large range considering most brokers offer about 40-70 pairs.
Indices
You can trade 10+ indices across the globe and you pay $0 in commissions. You will be provided access to a group of shares such as the top 500 largest US companies.
Shares
Fusion Markets charges $0 brokerage when trading US Share CFDs. Over 100 of the world’s leading companies are available to trade for much lower costs.
Commodities
Products such as wheat, coffee, sugar, and cocoa are available to trade with Fusion Markets with no commissions or exchange fees.
Cryptocurrency
You can trade a number of cryptocurrencies with Fusion Markets, which include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, EOS, Polkadot, Chainlink and others.
Retail traders in Australia will have restricted leverage because of ASIC regulations. Traders who qualify as professional traders or are outside Australia will have a more generous leverage allowance.
Fusion Markets offers three trading platform options: MetaTrader 4, MetaTrader 5, cTrader, and TradingView.
Every platform has its unique strengths for different traders.
1. MetaTrader 4 (MT4): A standard for Forex trading due to its speed, convenience, and stability
2. MetaTrader 5 (MT5): MT5 offers all the features MT4 has plus more; e.g. while MT4 has 9 timeframes, MT5 has 21
3. cTrader: Advanced automation and charting tools for experienced forex traders
| Fusion Markets | |
|---|---|
| MetaTrader 4 | Yes |
| MetaTrader 5 | Yes |
| cTrader | Yes |
| TradingView | No |
| Desktop | Yes |
| Web app | Yes |
| Mobile app | Yes |
| Proprietary platform | No |
| Social trading | MetaTrader Signals DupliTrade |
| Automated trading | Expert Advisors (EAs) |
MT4 Trading Platform
The Fusion Markets MT4 trading platform comes with a suite of features:
MetaTrader 5
If you have not previously used MT4 or you want to trade shares, then you may prefer MT5. MT5 has more timeframes and pending order types than MT4. MT5 offers 21 timeframes and 6 pending order types, while MT4 only has 9 timeframes and 4 pending order types.
cTrader
Fusion Markets now also offers cTrader, known for its intuitive interface and customisation. The platform includes advanced market depth options, over 70 inbuilt indicators, and 26 time frames for comprehensive market analysis.
Its QuickTrade Mode enables one-click trading, while its algorithmic trading solution, cAlgo, allows for the creation and installation of automated strategies and EAs. The platform also features an uncluttered interface with easy access to market sentiment, analysis, and depth.
You can find out more about the Best cTrader Forex Brokers here.
TradingView
TradingView is a charting platform used by over 50M traders worldwide. On TradingView, Fusion clients can execute trades, analyse charts, and run scripts with the help of cTrader integration. You don’t have to download any third-party platform to trade. You can directly trade on TradingView.
MT4 mobile apps for iOS- or Android-based smartphones or tablets enable clients of Fusion Markets to manage their accounts, open or close a trade, check live forex prices and use an array of analytical tools on the go.
As an ECN Forex broker, Fusion Markets offers cutting-edge technology that allows for lightning-fast execution of trade orders for all asset classes. On the broker’s MT4 platform, clients can take advantage of an execution speed of 0.02ms on every trade.
| Overall Rank | Broker | Market Order Execution Speed (ms) | Limit Order Execution Speed (ms) |
|---|---|---|---|
| 1 | Blackbull Markets | 90 | 72 |
| 2 | Fusion Markets | 77 | 79 |
| 3 | Pepperstone | 100 | 77 |
| 4 | Hugo’s Way | 94 | 104 |
| 5 | TMGM | 129 | 94 |
Additionally, Fusion Markets offers sponsored forex VPS hosting services for both MT4 and MT5, so your automated trading strategies stay online 24/7. Fusion Markets has partnered with third-party server hosting services for trading in the world’s biggest financial centres.
Verdict
Traders can enjoy the various features that Fusion Markets’ range of platforms provides, from customisable charts to excellent execution speeds.
Fusion Markets provides various flexible options for funding your account, with no fees or minimum amounts required.
There is no minimum deposit when trading with Fusion Markets.
These are the base currencies available: USD, AUD, NZD, CAD, HKD, SGD, GBP, EUR, JPY, and CHF. The commission you pay is calculated in your base currency.
Fusion Markets does not charge brokerage fees on deposits except if transferring from an international bank to an Australian bank (usually USD $20-$30). This means there are no costs to use Visa, Mastercard, or bank wire from an Australian account to another Australian account.
The following funding options are available:
| Payment Method | Charges | Funding Speed |
|---|---|---|
| Visa Debit/Credit Card | No fee | Instant |
| Mastercard Debit/Credit Card | No fee | Instant |
| Bank Transfer | No fee | 2-3 business days |
| Neteller | No fee | Instant |
| Fasapay | No fee | Instant |
| PayPal | No fee | Instant |
| Skrill | No fee | Instant |
| POLi / bPay | No fee | Instant |
| Cryptocurrency/Digital Wallet | No fee | Instant |
Local bank transfer is also available to the following countries or regions: Singapore, Indonesia, the EEA, the Philippines, the United Kingdom, Malaysia, Vietnam, and Thailand.
Deposits made via Visa or Mastercard will be credited to the client’s accounts immediately. On the other hand, deposits made via a bank transfer internationally to Australia will appear in the client’s trading account within 2 to 3 business days.
No restrictions and fees are imposed on fund withdrawals as well. Withdrawals via credit or debit cards are processed within 1 to 5 business days, while withdrawals via bank wires are processed within 2 to 5 business days.
Other Fees
The broker has an inactivity fee of $10 per month after an account is not used for a year. It’s important to note that additional fees may apply when trading with a different currency than the base currency selected by the trader. Additionally, overnight fees, also known as swap fees, may be charged by liquidity providers.
We scored Fusion Markets 14 out of 15 when it comes to account opening. Everything about it is seamless, with the only drawback being a slight delay in the time it took to open an account.
Verdict on Fusion Markets Funding
The absence of deposit and withdrawal fees was a plus, and opening an account was easy.
Fusion Markets’ customer service is available 24/7. Traders can contact the brokerage’s customer support team via live chat, phone, email, messenger, Twitter, or the website’s Contact Us section.
The live chat button can be found at the lower right corner of the screen, no matter which section of the website you are currently browsing.
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Verdict on Fusion Markets Customer Support
Fusion Markets excels in customer support with its 24/7 availability. Regardless of your location, you can contact them through multiple channels and receive a prompt response.
There is a lack of educational materials concerning a particular market segment (Forex, Equities, Bonds, etc). Some tools can be very helpful for traders. Here are a few that are especially beneficial:
While Education features may be lacking, Fusion markets do offer useful research analysis tools. These include:
Our team of industry experts at Compare Forex Brokers, led by Justin Grossbard, concluded that it’s safe to trade with Fusion Markets with an overall score of 8.5/10.
After compiling multiple factors into our proprietary scoring system, our Fusion Markets review revealed the following:
Fusion Markets was able to lower costs by 36% compared to other Australian-based forex brokers. Australian FX traders can find excellent trading conditions and top-level customer support experience. Additionally, if you want to open a live trading account with Fusion Markets, it only takes up to 5 minutes.
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Risk Warning: Trading forex and CFD products carry a high-risk level and it’s not suitable for all investors. Trading leveraged instruments can lead to the complete loss of all your investments. Before investing any of your hard-earned money, make sure you understand how trading on margin works.
With Fusion Markets, there is no minimum deposit requirement for clients to open a trading account. According to the Australian brokerage, the average deposit made by most retail customers equals $1,500 or more.
Fusion Markets’ demo accounts mimic the live accounts and corresponding trading platforms. The account will expire after 30 days and can be extended with account funding.
Yes, Fusion Markets is considered a safe broker, with a trust score of 42 out of 100. It is regulated by ASIC, VFSC, and FSA-S.
The leverage available will depend on your region, the product you are trading, and your client type – Retail or Pro.
The maximum leverage available is as follows: Cryptocurrencies: 10:1, Forex & Metals: 500:1, and Index CFDs: 100:1.
Yes, you can use PayPal to fund your account free of charge. You can use your PayPal wallet or via the debit or credit card option.
Ask an Expert
Is Fusion Markets An ECN Broker?
Fusion is an ECN forex broker but due to regulators restricting the use of the term ‘ECN’ it’s self-terms a RAW forex broker. To have market based spreads you need to select their RAW account.
Please is fusion market ecn or market maker and does it offer instant execution on buy stop ,sell stop order?
Fusion Markets is a no dealing desk broker with STP execution. In reality very few brokers have ECN but STP is very similar and you won’t notice much difference in spreads. Execution with Fusion is market execution not instant, this means you won’t get requotes or rarely get rejections.