Fusion Markets Review 2020

Fusion Markets has low forex fees and charges neither an inactivity fee nor a withdrawal fee.

We ranked Fusion Markets's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

Below you will find the most relevant fees of Fusion Markets for each asset class.

We also compared Fusion Markets's fees with those of two similar brokers we selected, Pepperstone and IC Markets. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Fusion Markets alternatives.

To have a clear overview of Fusion Markets, let's start with its trading fees.

Fusion Markets trading fees

Fusion Markets trading fees are low. There are different cost structures for different account types. We tested the ECN account, which charges a commission but offers tight spreads.

We know it is extremely hard to compare trading fees for forex brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We chose popular instruments in each asset class usually provided by the forex brokers:

• Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
• Stock index CFDs: SPX and EUSTX50

A typical trade means buying a leveraged product, holding it for one week and then selling. For the volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used is:

• 30:1 for forex
• 20:1 for stock index CFDs

This catch-all benchmark fee includes spreads, commissions and financing costs for all brokers. Let's see the verdict for Fusion Markets fees.

Forex fees

Fusion Markets forex fees are generally low. Compared to Pepperstone and IC Markets, Fusion Markets has the lowest fees.

CFD fees

Fusion Markets has generally low CFD trading fees. On the other hand, the EUSTX50 fee is a bit higher than those of Pepperstone and IC Markets.

Non-trading fees

Fusion Markets has low non-trading fees. There are no account, inactivity or deposit fees.

For credit/debit card withdrawals and bank transfer withdrawal in Australia, no fee is charged. However, for international bank transfers there is a AUD 20 withdrawal fee, the same fee charged by competitors.

We tested credit card withdrawal, therefore we didn't pay a withdrawal fee.

Account opening at Fusion Markets is user-friendly and fully digital. It is also very fast, as it took only one day to get our account approved.

Can you open an account?

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74-89% of retail CFD accounts lose money

What is the minimum deposit at Fusion Markets?

The required Fusion Markets minimum deposit is $0.

Account types

You can choose from two account types that differ in pricing:

• Classic account - fees are built into spreads, no commission is charged
• ECN account - there are tight spreads and a commission is charged

Fusion Markets offers corporate accounts as well.

How to open your account

Fusion Markets account opening is easy and fully digital. The online application takes roughly 10-15 minutes and our account was approved on the same day.

The 5 steps of Fusion Markets account opening:

1. Add your email address and create a password
2. Log in to the client portal interface and go to 'Profile'
3. Add your personal details, like date of birth and your residency
4. Select the account type, the level of leverage, and set a security question
5. Verify your identity and residency by uploading a copy of your passport / ID / driver's license and a bank statement or utility bill

Fusion Markets doesn't charge fees for deposits and most withdrawal options. You can use a bank transfer, credit/debit cards, and electronic wallets for transferring money but the withdrawal is slow.

Account base currencies

At Fusion Markets, you can choose from 6 base currencies: USD, EUR, GBP, AUD, JPY, SGD. This base currency selection lags behind the competitors.

Why does this matter? For two reasons. First, if you fund your account in the same currency as your bank account you are not charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is to open a multi-currency bank account. Revolut and Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes a few minutes on your phone.

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Deposit fees and options

Fusion Markets charges no deposit fees. Besides bank transfer, you can use credit/debit cards for deposits. You can also use Neteller and Skrill electronic wallets.

We tested it and found that a bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name.

Fusion Markets withdrawal fees and options

Fusion Markets withdrawal is free for credit/debit cards and bank transfers to Australian bank accounts. The international bank transfer withdrawal fee is quite high, it costs AUD 20. 

For credit/debit cards, the withdrawal amount can't exceed the amount you have deposited. Therefore, all profits can be withdrawn only by bank transfer.

How long does it take to withdraw money from Fusion Markets? We tested the credit card withdrawal and it took more than 3 business days.

How do you withdraw money from Fusion Markets? You can withdraw money from Fusion Markets by following these steps:

• Log in to the client portal
• Go to 'Payments'
• Select 'Withdrawal'
• Enter the withdrawal amount and select the withdrawal method
• Initiate the withdrawal

Compare to other brokers

The web trading platform of Fusion Markets is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.

Fusion Markets doesn't have its own self-developed trading platform, it uses MetaTrader 4, a third-party platform.

MetaTrader 4 is available in an exceptionally large number of languages.

Look and feel

The Fusion Markets web trading platform has great customizability. You can easily change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

Login and security

Fusion Markets provides only a one-step login. A two-step authentication would be more secure.

Search functions

The search functions are OK. You can find the assets in categories. However, we missed the usual search function when you can type in the asset's name manually.

Placing orders

You can use the basic order types. You will not find very sophisticated orders like the 'one cancels the other' order. The following order types are available:

• Market
• Limit
• Stop

If you are not familiar with order types, read this overview.

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You can't set alerts and notifications on the Fusion Markets web trading platform. This feature is available only on the desktop trading platform.

Portfolio and fee reports

Fusion Markets has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'History' tab. We didn't find a way to download them.

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Fusion Markets has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly with a good search function. However, it lacks a safe login.

Similarly to the web trading platform, Fusion Markets offers MetaTrader 4 as a mobile trading platform. MetaTrader 4 is available for both iOS and Android. We tested it on Android.

After you download the MT4 mobile trading platform, you have to access the FusionMarkets-Live server. 

Just like at the web trading platform, you can choose from a lot of languages on the mobile trading platform too. Changing the language is a bit tricky on Android devices. You can do it only if you change the default language of your mobile.

Look and feel

Fusion Markets has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.

Login and security

Similarly to the web trading platform, Fusion Markets provides only a one-step login. A two-step login would be safer.

You can't use fingerprint or Face ID authentication. Providing this feature would be more convenient.

Search functions

The search functions are good. You can search by typing the name of the product or by navigating the category folders.

Placing orders

You can use the same order types and order time limits as the ones on the web trading platform. 

Alerts and notifications

You can set alerts and notifications, although you can do it only on the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform.

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74-89% of retail CFD accounts lose money

In design and functionality, Fusion Markets's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.

Fusion Markets offers MetaTrader 4 as a desktop trading platform.

It has the same design, is available in the same languages, offers the same order types, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.

The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings). You can add them if you go to 'Tools' and then 'Options.'

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74-89% of retail CFD accounts lose money

Fusion Markets gives access to a lot of currency pairs and some CFDs. On the other hand, it lacks a lot of popular asset classes, such as real stocks, ETFs, funds, etc.

Fusion Markets is a forex broker with some CFDs. To learn more about CFDs read our CFD trading tips.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Fusion Markets's currency pair selection is great, one of the most extensive among forex brokers. You can also trade with cryptos, stock index CFDs and commodity CFDs. However, stock and bond CFDs are not available.

You can select the maximum level of leverage, from 100:1 to 500:1. These maximum levels are much higher than in the EU since Fusion Markets is regulated in Australia.

The research tools of Fusion Markets could be better. You can only use the research tools of the MetaTrader 4 platform, but trading ideas, fundamental data, and news are not available. As a plus, you can add research tools, although they are usually not free.

Fusion Markets doesn't have its own research team, you can only use the MetaTrader 4 trading platform's research tools. Just like the MetaTrader trading platform, the research tools are available in a lot of languages as well. In this review, we tested the research tools available for free, which cover the charting tools.

Trading ideas

Fusion Markets does not provide any trading ideas.

Fundamental data

Fusion Markets does not offer fundamental data.

Charting

Fusion Markets has OK charting tools.

You can use 31 technical indicators and other technical tools, such as trendlines and Fibonacci retracement.

On the other hand, the design is outdated and some features are hard to use. For example, we had difficulty finding how we could remove an indicator from the chart.

News feed

Fusion Markets doesn't offer news. 

Compare research pros and cons

Fusion Markets has great customer support. You can contact them on various channels and get answers within a short time. However, 24/7 customer support is missing.

You can contact Fusion Markets via:

• Live chat
• Telephone
• Email

Fusion Markets has a live chat which provides quick responses. For most of our questions, we got relevant answers. However, when we asked whether corporate accounts are provided the customer support agent couldn't answer instantly, only by email a day later.

Fusion Markets has great phone support. The agent was connected within a minute and we got relevant answers.

The tone of the customer service was very friendly, but it was a bit annoying that on the phone and live chat they pushed us to use their demo account.

We emailed Fusion Markets four times and got answers to all our emails within a few hours. The relevancy of the answers was also great.

What is missing is 24/7 service, as they are available only five days a week.

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74-89% of retail CFD accounts lose money

Fusion Markets offers only a demo account as an educational tool. It lacks educational videos, platform tutorial videos and educational texts.

If you want to use the demo account, first you have to enter your email address and create a password. Then you have to log in to the client portal, where you can select the demo account on the 'Accounts' page.

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74-89% of retail CFD accounts lose money

Fusion Markets is regulated by the top-tier ASIC. As of May 2020 clients also have the option onboard to Vanuatu's VFSC. Neither of the regulators have investor protection or negative balance protection.

Is Fusion Markets regulated?

Fusion Markets is based in Australia. It was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

Is Fusion Markets safe?

To be certain, we highly advise that you check two facts:

• how you are protected if something goes wrong
• what the background of the broker is

How you are protected

Fusion Markets provides its services through one Australian legal entity, Gleneagle Asset Manangement Pty Limited, which is regulated by both the Australian Securities and Investments Commission (ASIC) and Vanuatu Financial Services Commissions (VFSC). This matters because it means that no investor protection is provided. Moreover, Fusion Markets doesn't provide negative balance protection either. 

Your regulator will depend on which brand you are registering with, and which country you reside in.

*Except 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, United States of America, Somalia, Sudan, Syria, and Zimbabwe.

Background

Fusion Markets is the brand name of Gleneagle Asset Management Pty Limited, which was established in 2010. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.

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Fusion Markets is a great forex broker. 

It offers low trading and non-trading fees. Account opening is fast and easy. Customer service gives quick and relevant answers.

On the negative side, Fusion Markets has limited research and educational tools. The product offering covers only forex and some CFDs.

As you will have an account within a day and there are low fees, feel free to try Fusion Markets.

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74-89% of retail CFD accounts lose money