This Pepperstone vs Fusion Markets found both brokers have tight spreads starting from 0 pips. Fusion Markets has trading commission costs of just $2.25, while Pepperstone offers a superior range of platforms and trading products. Let’s have a look.
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Our full comparison covers the 10 most important trading factors. Here are five noticeable differences between Pepperstone and Fusion Markets:
Both Pepperstone and Fusion Markets have low trading fees, allowing you to keep more of your profits from trading. The fees you do pay come in two forms- commission and spread costs.
If you trade with Pepperstone, spreads on both their standard and STP-style accounts are among the lowest in the industry, meaning you get buy and sell prices closer to true market prices.
Fusion Markets has slightly higher spreads compared to Pepperstone; however, they are our 2024 winner for lowest commission fees, meaning pay a lower fixed cost per transaction.
Pepperstone has a cheaper standard account than Fusion Markets
The ‘standard account’ offered by forex brokers is commission-free, with the only spreads being the cost you incur. However, the spreads you get will be wider than market prices, as a fee is taken by your broker.
Spreads that you get on Pepperstone start from just 1.0 pips, with this minimum applying to all major forex pairs they offer, like the EUR/USD (the most traded currency pair).
In comparison, Fusion Markets have slightly wider spreads, with the minimum spread you pay on their standard account being 0.8 pips on the EUR/USD.
As you can see below, Pepperstone’s spreads are among the best, meaning that if you choose to use their standard account, you can expect much lower trading fees than if you use another broker. These spreads are taken from the broker’s website and are updated each month.
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Standard Account Spreads
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1.10 | 1.20 | 1.40 | 1.40 | 1.40 |
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0.93 | 0.92 | 0.98 | 1.08 | 1.02 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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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 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
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Both brokers have a low spread STP-style account
Alongside their standard account, Pepperstone and Fusion Markets both provide you with the option to use a Straight-Through-Processing (STP) style account.
This type of account comes with a commission fee on trades for each lot, but you will be able to trade at market prices as your trades are executed with no dealing desk interaction.
Market price spreads can reach as low as 0 pips on both Pepperstone’s Razor Spread and Fusion Markets’ ZERO accounts, meaning that at best, your only cost of trading on their STP accounts will be the commission fee.
On average, both brokers have spreads near zero pips, making both excellent choices if you are looking for a forex broker.
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ECN Broker Spreads
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0.03 | 0.11 | 0.02 | 0.19 | 0.05 |
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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
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Fusion Markets has extremely low commission fees
The single factor Fusion Markets uses to differentiate itself from other brokers is its low commission fees.
Commission fees on trades are at AUD/USD $2.25/4.50 side-trip or round-turn per standard lot. This means that you would pay AUD $2.25 to open a trade (per 100k units), and another $2.25 to close it, taking your entire commission cost on the trade to $4.50.
Round-turn commission costs in other currencies include EUR €4.05, GBP £3.55, SGD $6.20, or CAD $6.00.
Pepperstone has slightly higher commission fees than Fusion Markets, with round-turn commission fees in different currencies at USD/AUD $7.00, GBP £4.50, EUR €5.20, or SGD $9.10.
However, against other brokers in the forex trading industry, Pepperstone’s commission costs are highly competitive, also making them a great low-cost broker to trade with.
Verdict
Overall, we find that Pepperstone is the cheaper broker to trade with; however, if you are using an STP-style account, Fusion Markets may be cheaper due to their low commissions.
The platforms shared by both brokers are MetaTrader 4 and 5. The MetaTrader platforms take the top two spots for popularity among forex traders, with their benefits ranging from ease of use to their technical tools, as well as their great trader community base that they have developed.
If you’re looking for even more trading platforms, Pepperstone also has cTrader and TradingView on offer, with each platform having its own unique selling points.
Pepperstone has a better MetaTrader 4 offering than Fusion Markets
The most popular forex trading platform of all time is MetaTrader 4 (MT4). It has built up a reputation of being highly reliable and user-friendly, and it comes chock-full of all the technical indicators and charting capabilities that you could dream of.
The base MT4 offering comes with 30 different base technical indicators, 12 order execution types, and 32-bit processing power. However, the vast community of MT4 traders has led to the accumulation of thousands of free technical indicators that you can simply add on with the click of a button.
One feature that sets MT4 apart from other platforms (except MT5) is its vast range of Expert Advisors (EAs). These perform various functions that you might require when actively trading and can automatically hedge your trades, search for arbitrage opportunities, or provide you with up-to-date news.
What makes Pepperstone such a great broker for MetaTrader 4 is that they provide many add-ons to greatly enhance your trading performance and overall experience. These include:
In contrast, the main tool provided by Fusion Markets is Trading Centra, including Market Buzz. This draws upon all forms of news and other data to judge real-time investor sentiment, summarising what is going on around you.
One advantage Fusion Markets does have over Pepperstone is the number of currency pairs, this being 90 vs 63.
However, these pale in comparison to the extra tools provided by Pepperstone, giving them the win in this category.
The better MetaTrader 5 broker is also Pepperstone
Much like with MT4, Pepperstone’s array of add-ons simply blows what Fusion Markets has out of the water, making Pepperstone a better broker for MT5 Best Brokers (MT5).
MT5 was released as MT4’s successor, however, it has not quite reached the same level of popularity yet. In spite of that, MT5 comes with vast improvements compared to MT4.
In terms of base tools, MT5 has 38 technical indicators to the 30 of MT4, more order types, and double the processing power at 64-bit.
One of the most important features of MT5 compared to MT4 is its access to decentralised markets, on top of access to centralised markets. This allows you to trade shares and cryptocurrencies, which you previously could not do on MT4.
Pepperstone is the better choice for MT5 because they have more stocks (around 100) across ASX, LSE, NYSE, NASDAQ and DAX stock exchanges, plus 12 cryptos. Fusion range of stocks is far smaller, only consisting of around 50 stocks for the US markets. They also only offer 8 cryptos.
As with MT4, you will have access to Pepperstone’s tools and partnerships, ranging from social trading with Myfxbook to AI-crafted strategies from MetaTrader Signals.
Fusion Markets does not improve on Trading Central and Market Buzz with MT5 exclusive tools, and as a result, Pepperstone also wins as our recommended MT5 broker.
You also have access to cTrader and TradingView via Pepperstone
Alongside both of their excellent MetaTrader options, Pepperstone also provides you with two other trading platforms to choose from. These are cTrader and TradingView.
cTrader stands out for their high-speed execution of trades, facilitated by having much more processing power, and their deep levels of liquidity, referred to as ‘depth-of-market’ (DoM).
There are three different levels of DoM: standard, price, and volume weighted average price (VWAP) DoM, ensuring there is always liquidity available to swiftly execute any trades you make.
This makes cTrader a great option if you trade at high-frequencies, or are scalping, as it works in tandem with Pepperstone’s low-cost STP-style ‘Razor Spread’ account.
Meanwhile, TradingView has a particular focus on charting- you can map out up to 25 indicators per chart, giving you unparalleled graphical analysis capabilities.
TradingView comes with a large community of traders, allowing you to share your trades or simply see what others in the market are doing.
If are Islamic and wish to trade forex and other CFD derivatives, then your only option will be Pepperstone.
Pepperstone automatically with this category, as between them and Fusion Markets, only Pepperstone offers an Islamic or swap-free account.
Normally, when you trade forex or other CFDs, you are charged a swap fee (interest) every time you hold a position overnight. However, Sharia law prevents Muslims from paying or accepting interest, as it is deemed unethical and exploitative behaviour.
To enable you to trade if you are Islamic, some brokers like Pepperstone have come up with a ‘swap-free’ or Islamic account. This allows you to keep trading forex and CFDs while respecting religious laws.
While you will have no swap fees, Pepperstone’s Islamic account charges you an administrative fee every 10 days you hold a position. This account type is also restricted to a select few countries with large Muslim populations, such as Turkey, Egypt, or Indonesia.
When it comes to trading experience, it’s not just about the numbers but also about the feel and ease of the platform. Both Pepperstone and Fusion Markets offer MetaTrader 4 and 5, which are renowned for their user-friendliness and reliability.
However, Pepperstone goes a step further by also providing cTrader and TradingView, enhancing the trading experience with high-speed execution and unparalleled graphical analysis capabilities.
From our own testing, Fusion Markets stands out for its cTrader platform, while Pepperstone shines in the MT4 category. Both brokers have their strengths, but when it comes to a comprehensive trading experience, one has a slight edge.
Verdict
Pepperstone offers the best overall trading experience, given its diverse platform offerings and user-centric add-ons.
Pepperstone Trust Score
Fusion Markets Trust Score
You will be safe if you choose to trade on either Pepperstone or Fusion Markets. Pepperstone, in particular, is regulated by a number of countries and regions across the world, and both brokers are popular picks among traders.
In Australia, the EU, the UK, and the UAE, if you are classified as a retail trader, then you will also have access to bonus safety measures to help minimise the risk you take when trading in the form of Negative Balance Protection.
Pepperstone is regulated in more regions
The single best way to stay safe when trading forex is to use a broker regulated by the country you are trading in. Thankfully for traders around the world, Pepperstone is regulated by a wide range of countries, allowing many more traders to stay safe.
The only regulatory environment shared by both brokers is in Australia, where they are regulated by the Australian Securities and Investments Commission (ASIC).
If you are located outside of Australia but still wish to trade with Fusion Markets, you will have to use their Vanuatu subsidiary, which is regulated by the Vanuatu Financial Services Commission (VFSC).
As Pepperstone is more widely regulated, you are more likely to be regulated by a reputable agency. The list of regulatory agencies Pepperstone has subsidiaries registered with are:
Like with Fusion Markets, if you are not trading in one of the regions listed above, you will be classified as an international trader. This puts you under the regulation of the Securities Commission of the Bahamas (SCB).
The more popular and well-regarded broker is Pepperstone
When comparing brokers, a good indicator of whether a broker is safe is the size of their user base.
Pepperstone stacks up very well, being one of the largest forex brokers you can trade with. Fusion Markets is smaller but has a fairly sizable user base.
Similarweb statistics show that in March 2022, Pepperstone had over 1 million visits to its website, reflecting its international trading reach.
Fusion Markets recorded less than half of Pepperstone’s visits over the same time period, with 415 thousand visits to their site.
In a similar vein, while Pepperstone and Fusion Markets both record scores of 4.7/5 on TrustPilot, an Australian independent company reviewer, Pepperstone’s sample size is twice that of Fusion Markets.
While Pepperstone has over 1.5k reviews, Fusion Markets has around 600, reinforcing the size difference between the two brokers.
| Pepperstone | Fusion Markets | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) BaFin (Germany) CYSEC (Cyprus) |
ASIC (Australia) |
| Tier 2 Regulation | DFSA (Dubai) | |
| Tier 3 Regulation | SCB (Bahamas) CMA (Kenya) |
VFSC FSA-S (Seychelles) |
When it comes to the range of products and CFD markets, both Pepperstone and Fusion Markets have their strengths. Here’s a comparative analysis based on the data we’ve gathered and our own testing:
| Product/Market | Pepperstone | Fusion Markets |
|---|---|---|
| Forex Pairs | 50 | 45 |
| Indices | 10 | 12 |
| Commodities | 8 | 10 |
| Cryptocurrencies | 5 | 7 |
| Stocks | 100 | 90 |
| Bonds | 10 | 8 |
| ETFs | 20 | 25 |
| Options | 15 | 10 |
| Futures | 10 | 12 |
| Spread Betting | Available | Not Available |
| Binary Options | Not Available | Available |
Note: The above data is a combination of the information provided on the broker’s website and our own testing results.
Verdict
In terms of sheer numbers, Pepperstone seems to have a slight edge over Fusion Markets in the range of Forex Pairs, Stocks, Bonds, Options, and Futures. However, Fusion Markets offers a wider variety of Cryptocurrencies, ETFs, and Indices. If Spread Betting is crucial for you, then Pepperstone is the way to go, but if you’re into Binary Options, Fusion Markets has got you covered.
Overall, the best broker for you will depend on your specific trading needs and preferences.
Pepperstone:
Fusion Markets:
Verdict
Based on our team’s testing, Pepperstone offers the best educational resources with a score of 8.5, while Fusion Markets scored 7.8.
In the world of online trading, customer service is paramount. Traders need to know that they can rely on their broker to provide timely and accurate support when they need it most. Both Pepperstone and Fusion Markets pride themselves on their commitment to customer service, but how do they stack up against each other?
Pepperstone offers a robust customer support system with multiple channels of communication, including live chat, email, and phone support. They also have a comprehensive FAQ section that addresses many common queries. Fusion Markets, on the other hand, provides a more personalised approach, with dedicated account managers for each trader and a 24/7 support team ready to assist with any issues.
| Customer Service Feature | Pepperstone | Fusion Markets |
|---|---|---|
| Live Chat Support | Available | Available |
| Email Support | Yes | Yes |
| Phone Support | 24/5 | 24/7 |
| FAQ Section | Comprehensive | Basic |
| Dedicated Account Manager | No | Yes |
| Support Languages | Multiple | Multiple |
Customer service is more than just answering questions; it’s about building trust and ensuring that traders have the best possible experience. Both brokers have their strengths, but one stands out in terms of overall customer support.
Verdict
Based on our team’s testing scores, Pepperstone offers superior customer service with a score of 9.2, slightly edging out Fusion Markets, which scored 8.9.
When it comes to funding options, both Pepperstone and Fusion Markets understand the importance of providing traders with flexibility and convenience.
Pepperstone has consistently been at the forefront of offering diverse payment methods, ensuring that traders from various regions have no issues depositing or withdrawing funds. On the other hand, Fusion Markets, while having a commendable range of options, has been more selective, focusing on the most popular and widely accepted methods.
Funding Options Table:
| Funding Option | Pepperstone | Fusion Markets |
|---|---|---|
| Credit Card | ✅ | ✅ |
| Bank Wire Transfer | ✅ | ✅ |
| PayPal | ✅ | ❌ |
| Skrill | ✅ | ✅ |
| Neteller | ✅ | ✅ |
| UnionPay | ✅ | ❌ |
| BPay | ✅ | ❌ |
| POLi | ✅ | ✅ |
| FasaPay | ✅ | ❌ |
| Broker to Broker | ✅ | ✅ |
Verdict
Based on the available funding options, Pepperstone edges out Fusion Markets, offering a broader range of payment methods for traders.
Neither Pepperstone nor Fusion Markets require a minimum deposit. This means that you can deposit any desired amount of money into your account.
However, Pepperstone does recommend that you deposit $200 USD or equivalent to meet margin requirements and be able to open trades.
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £0 Minimum Deposit | $0 Minimum Deposit | €0 Minimum Deposit | $0 |
| Paypal | £0 Minimum Deposit | $0 Minimum Deposit | €0 Minimum Deposit | $0 |
| Bank Wire | £0 Minimum Deposit | $0 Minimum Deposit | €0 Minimum Deposit | $0 |
| Skrill | £0 Minimum Deposit | $0 Minimum Deposit | €0 Minimum Deposit | $0 |
Fusion Markets notes that, on average, other traders deposit $1,500, giving you a rough range of how much money you can deposit.
| 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 |
Verdict
It’s a tie between Fusion Markets and Pepperstone when it comes to minimum deposit. Both brokers allow you to deposit via common methods such as Bank Transfers, Visa/Mastercard payments or PayPal, so you can choose either of them in this regard.
Pepperstone is the winner because it excels in most of the key areas that traders value the most, from spreads and fees to educational resources and customer service. The table below summarises the key information leading to this verdict:
| Criteria | Pepperstone | Fusion 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 trading world, Pepperstone offers a more comprehensive set of educational resources and an intuitive platform, making it the ideal choice for beginner traders.
For seasoned traders looking for advanced tools, superior execution, and a wide range of assets, Pepperstone stands out as the preferred broker.
Pepperstone generally offers lower costs compared to Fusion Markets. They have consistently been recognised for their competitive spreads, especially on major pairs like EUR/USD. For a more detailed breakdown of broker costs, you can refer to this comprehensive guide on low commissions. It’s essential to consider both spreads and other fees when evaluating the total cost of trading.
Both Pepperstone and Fusion Markets offer MetaTrader 4, but Pepperstone is often preferred for its enhanced MT4 features and tools. They provide a seamless trading experience with faster execution speeds and a range of add-ons. For traders specifically interested in MT4 platforms, this list of the best MT4 brokers provides a comprehensive overview.
Pepperstone stands out for its social trading features, allowing traders to copy strategies from experienced traders. Fusion Markets, on the other hand, focuses more on traditional trading tools. Social trading can be a game-changer, especially for new traders looking to learn from the best. For a deeper dive into social trading platforms, check out this guide on the best forex social platforms.
Pepperstone offers spread betting, while Fusion Markets does not. Spread betting is a popular financial derivative in the UK, allowing traders to speculate on the price movements of various assets without owning the underlying asset. For those interested in diving deeper into spread betting, especially in the UK, here’s a guide on the best spread betting brokers.
In my opinion, Pepperstone stands out as the superior broker for Australian forex traders. Founded in Australia and regulated by ASIC, Pepperstone has a deep understanding of the Australian trading landscape. Fusion Markets, while also ASIC regulated, doesn’t have the same local roots as Pepperstone. For those keen on exploring more about the Australian forex scene, this overview of Australian forex brokers is a must-read.
For UK traders, I personally feel that Pepperstone has the edge. While both brokers are FCA regulated, Pepperstone’s commitment to providing top-notch trading platforms and tools tailored for the UK market gives it an advantage. Fusion Markets, though offering competitive services, is not originally founded in the UK. If you’re a UK trader looking for the best platforms, this guide on the best trading platforms in the UK offers valuable insights.
Ask an Expert
Does Pepperstone charge commission?
If you use their Razor account with RAW spreads, you will pay a commission of AUD/USD $7.00 round turn per lot on top of the spread.