Fusion Markets is a young forex broker that aims to shake up the market with market-leading low-cost commissions, ECN style tight spreads and top-level customer service. Fusion Markets are ASIC regulated, offer 90 currency pairs and 5 Cryptocurrencies along with MetaTrader 4 trading platform.
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Established in 2017, Fusion Markets is a trading name of Melbourne-based Gleneagle Asset Management Pty Limited and is regulated by the Australian Securities and Investments Commission (ASIC). The Australian forex broker is licensed to conduct a financial services business in Australia under Australian Financial Services License No. 226199. As well as Australian regulation, the broker operates a subsidiary that is regulated by the Vanuatu Financial Services Commission (VFSC).
Fusion Markets is founded by Phil Horner, a professional with vast trading experience who also acts as the company’s CEO. The brokerage adheres to several key principles:
Fusion Markets is not licensed to service customers from Burma, Côte d’Ivoire, Democratic People’s Republic of North Korea, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Ghana, Iran, Iraq, Lebanon, Liberia, Libya, Japan, New Zealand, the United States, Somalia, Sudan, Syria and Zimbabwe.
Our team of experts at Compare Forex Brokers completed a review of Fusion Markets in 2021, as we focused on key points such as commissions and spreads, trading platforms and order execution, customer service and payment methods. Our findings are discussed in detail below.
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The overall rating is based on review by our experts
Fusion Markets claims to offer the lowest advertised commissions on Forex trading among regulated online brokers in Australia, with its commission rate being nearly 36% lower compared to what its competitors offer.
View below Fusion Markets commission comparison with other Australian forex brokers:
As a true ECN broker, which automatically matches buy and sell orders of clients at the best quote available, Fusion Markets offer ultra-low spreads (starting from 0.0 pips) on its ZERO Account and charges a commission of as low as AUD$2.25 side-turn per 1 standard lot traded (or AUD $4.50 round-turn). The table below presents commissions charged on ZERO Accounts depending on the base currency:
Note* Besides the spread and the commission, there are no other (hidden) charges.
With Fusion Markets, retail clients are given a choice between two types of live trading accounts:
This account type is suitable for customers who are just about to begin their trading experience as well as for those who prefer simplicity – to avoid the need to calculate commissions prior to every trade. Actually, Fusion Markets will charge no commissions on its Classic Accounts, because they are included in the spread itself.
Due to the nature of ECN technology, the Australian brokerage offers tight spreads, which start from 0.8 pips on major currency pairs such as EUR/USD and USD/JPY.
In order to calculate the average spread for a given currency pair on the Classic Account, clients can add 0.8 pips to the average spread listed on the broker’s product page. For example:
The ZERO account offers raw spreads with no mark-ups. This account type is suitable for customers with some trading experience and for those who are aware of how the commission sizing works.
The spreads on the ZERO Account have no mark-up and start from 0.0 pips for Forex, precious metals and commodities. The average spreads offered on some of the most popular currency pairs are presented as follows:
In exchange for the tight spreads, retail customers will pay the brokerage a commission of as low as AUD $4.50 per round turn. See below the Fusion Markets spread comparison with other Australian forex brokers.
Data taken from broker website. Accurate as at 04/06/2021
Note* We should also note that clients are able to change their account status from Classic to ZERO at any time. They only need to contact the broker’s customer support team.
Fusion Markets clients can open a Demo Account, which may have the features of either a ZERO or a Classic Account. Another option is to open multiple Demo Accounts (one functioning as a ZERO and one functioning as a Classic).
Before a client can start trading with virtual funds on a temporary Demo Account, the broker will require identity and address verification. Clients will have to submit colour copies of their ID card, passport or driver’s license. As for proof of residence, they will need to send a copy of their utility or phone bill, bank statement or birth certificate.
Over the years, MetaTrader 4 has become a standard for Forex trading, due to its speed, convenience and stability. Originally, the platform comes as an “empty shell”. Therefore, it is what features and tools a Forex broker include in the platform that is of the essence. Our team of experts at Compare Forex Brokers maintain the view that Fusion Markets has one of the best MT4 offerings on the market.
The Fusion Markets MT4 trading platform comes with a suite of features:
Clients, who prefer not to install any software and to trade directly from their Internet browser on any desktop PC, will probably find Fusion Markets’ MT4 WebTrader appealing. Key features include:
MT4 mobile apps for iOS- or Android-based smartphones or tablets enable clients of Fusion Markets to manage their account, 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.
Additionally, Fusion Markets offers a forex VPS hosting service that allows your automated trading strategies to stay online 24/7. The Virtual Private Server (VPS) offers forex traders the following advantages:
Fusion Markets has partnered with third-party server hosting services for trading in the world’s biggest financial centres. To offer dedicated online forex VPS to its clients, Fusion Markets has partnered with:
Note* If you execute more than 20 standard lots within a month, Fusion Markets will credit back the VPS fee and you’ll benefit from free VPS.
Another advantage of Fusion Markets is that the brokerage charges no fees on deposits, regardless of the payment option chosen by the client. The Australian broker allows depositing via one of the following payment methods:
In case clients fund their trading account via bank wire, any transfers from Australia to the broker’s Australian trust account will be associated with no fees. However, there will be fees charged on bank transfers from an international account to the broker’s Australian trust account.
We should note that some banks may use the services of a so-called “intermediary bank” in order to transfer the funds to Fusion Markets. As a result, the intermediary bank may charge fees of its own.
As for base account currencies, Fusion Markets allows deposits made in:
Some of the details for a bank wire transfer are presented in the table below.
Note* Clients may find more details within their Fusion Client Hub.
Deposits made via Visa or Mastercard will be credited to the clients’ account immediately. On the other hand, deposits made via a bank transfer internationally to Australia will appear in the clients’ 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.
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 the majority of its retail customers equals $1,500 or more.
Although clients are allowed to deposit as much as they like, Fusion Markets recommends that the maximum deposit be AUD $25,000 or equivalent at a single transaction, when credit or debit cards are used as a method of funding. This way retail clients can avoid rejections from Visa or Mastercard.
As for the maximum leverage offered by the broker, it depends on whether you are trading with the broker’s ASIC regulated branch in Australia, or Fusion Markets global branch regulated by the VFSC and based in Vanuatu.
Clients are allowed to have up to 200 orders (including pending orders) active at any time, while the maximum trade size equals 100 lots. However, for the best order execution, clients should open positions not larger than 50 lots. If that trade size is exceeded, they may experience slippage.
Note* Client money is held in segregated accounts with a third party bank. Fusion Markets keeps your money with Australia’s second-biggest bank, Westpac.
Traders are also able to contact the brokerage’s customer support team for all kinds of issues or inquiries. The most convenient way to do that is probably via the live chat option. The live chat button is located in the lower right corner of the screen, regardless of which website section is currently being visited.
Another way to contact customer support is by sending them a message by using the broker’s Contact Us section of the website. Details required can be seen in the screenshot below.
Fusion Markets clients can also email the support team at email@example.com or contact them over the phone by dialling +61 3 8376 2706.
Despite low trading costs, exceptional order execution, and professional customer support, we should note that Fusion Markets offers a bit limited selection of asset classes. The trading instruments offered can be summarised as follows:
On the downside, the Australian forex broker does not offer CFDs on Equities and Exchange-Traded Funds (ETFs). The Australian traders can’t take advantage of the trading conditions that come with share CFD trading.
Note* Fusion Markets keep extending its list of available instruments for trading by adding new CFDs on soft commodities (coffee, wheat, cocoa, sugar, etc.). The launch of new CFD instruments is expected soon.
Another disadvantage, which we feel obligated to point out, is the lack of any educational materials as well as research materials concerning a particular market segment (Forex, Equities, Bonds etc).
Fusion Markets offers no trader education database, which could include:
On the plus side, Fusion Markets offers for Australian-based traders Trading Calculators but you need to be a client of their services.
While Education features may be lacking, Fusion markets do offer useful research analysis tools. These include:
Last but not least, clients can choose from a limited range of methods to fund their trading accounts. As we have already pointed out, Fusion Markets allow depositing via credit or debit cards, bank wire transfer and a limited number of e-wallets such as Skrill and Neteller.
Note* Popular e-wallets such as PayPal, iDebit, SamsungPay or AlliedWallet are currently not available.
Our team of industry experts at Compare Forex Brokers, led by Justin Grossbard, concluded that it’s safe to trade with Fusion Markets. Our Fusion Markets review took into consideration multiple factors that were compiled into our proprietary scoring system and revealed the followings:
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.
With over +120 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 is lacking the research tools and CFDs on stocks is not available. For more information on the financial services offered by Fusion Markets, please check out fusionmarkets.com.
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.
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.