Fusion Markets Review 2019

Fusion Markets is an Australian forex broker. Fusion Markets is the brand name of Gleneagle Asset Management Pty Limited which was founded in 2010 and regulated by the Australian Securities and Investments Commission (ASIC).

Fusion Markets is considered safe because it has a long track record and is regulated by a top-tier regulator.

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.

Recommended for forex traders looking for low fees and MetaTrader 4 platform.

Fusion Markets pros and cons

Fusion Markets has low trading and non-trading fees. It has also an easy and fast account opening. The customer service is great. It gives fast and relevant answers.

The product portfolio at Fusion Markets is limited, only forex and some CFDs are offered. It has limited research tools as there are no trading ideas, fundamental data or news. There is only a demo account as an educational tool, the educational videos or texts are missing.

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Fusion Markets review
Fees 5 stars

Fusion Markets has low trading fees and doesn't charge any inactivity fee or 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 relating to broker fees. What you need to keep an eye on are trading fees, financing rates, and non-trading fees.

• Trading fees occur when you trade. These can be commissions or spreads.
• Financing rates or overnight rates are charged when you hold your leveraged positions for more than a day. A leveraged position means that you borrow money from the broker to trade.
• Non-trading fees include things like withdrawal fees or inactivity fees.

We also compared Fusion Markets's fees with those of two similar brokers we selected, Pepperstone and IC Markets. This selection is based on factors like products offered, client profile, fee structure, etc.

Let's start with the trading fees.

Trading fees

Fusion Markets trading fees are low. There are different cost structures at different account types. We tested the ECN account which charges low spread and a commission.

It is super hard to compare trading fees for forex brokers. What did we do at Brokerchooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for two popular currency pairs:

• EURUSD
• EURGBP

A typical trade means that you buy for $20,000 using 30:1 leverage and sell it after a week.

This super catch-all benchmark includes spreads and financing costs for all brokers.

Here is the verdict. Fusion Markets has the lowest EURGBP fees and the second-lowest EURUSD fees.

If you see only the spread and commission costs, you can see that Fusion Markets has the lowest fees. Therefore Fusion Markets could be a great choice if you don't plan to hold your positions long in time.

Financing rates

Fusion Markets financing rates are generally average.

Financing rates are charged when you hold your leveraged positions for more than a day. It can be a significant proportion of your trading costs.

The financing rates are calculated as of 2019.07.08.

Non-trading fees

Fusion Markets has low non-trading fees. There are no account and withdrawal fees.

There is no inactivity fee as well, but if you don't use the account for 90 days, the account will be archived.

Fusion Markets review
Account opening 5 stars

The account opening at Fusion Markets is user-friendly and fully digital. It is also very fast, it took only 1 day until our account was approved.

Can you open an account?

Fusion Markets accepts customers from all around the world. There are only a few exceptions, most notables are the US and Japan.

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 which differ in the pricing:

• Classic account - the 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

The 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 into the client portal interface and go to "Profile"
3. Add your personal details, like date of birth or 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 / utility bill

Fusion Markets review
Deposit and withdrawal 4 stars

Fusion Markets doesn't charge fees for deposit and withdrawal. You can use bank transfer and credit/debit cards for transferring money. However, there are no electronic wallets and 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 offer lags behind the competitors.

Why does this matter? Two things. First, if you fund your account in the same currency as your bank account, you won't be charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you will not have to pay a conversion fee.

A convenient way to save on the currency conversion fees can be to open a multi-currency bank account. Revolut or 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 depositing. The electronic wallets, like PayPal, are missing.

We tested debit card transfer and it was instant. A bank transfer can take several business days.

You can only deposit money from accounts which are in your name.

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 has a quite high, ~AUD 20 fee.

You can use the same methods for withdrawal as at the deposit.

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

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

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

• Log into the client portal
• Go to the payments
• Select the "Withdrawal"
• Add the withdrawal amount and the withdrawal method
• Initiate the withdrawal

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Fusion Markets review
Web trading platform 3 stars

The web trading platform of Fusion Markets is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the negative side, it lacks a two-step login and the design is outdated.

Fusion Markets doesn't have an in-house developed trading platform, it uses MetaTrader 4, a third-party platform.

MetaTrader 4 is available in exceptionally lot languages.

Look and feel

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 time until we found how we can add an asset to the watchlist.

Login and security

Fusion Markets provides 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.

We missed the classical magnifying search function when you can type the assets' 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.

• Market
• Limit
• Stop-loss

If you are not familiar with the 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 at the History tab. We didn't find a way to download them. 

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74-89% of retail CFD accounts lose money

Fusion Markets review
Mobile trading platform 4 stars

Fusion Markets has a great mobile trading platform, offered by MetaTrader 4. It is well designed and user-friendly. On the flip side, it lacks the two-step 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 downloaded the MT4 mobile trading platform, you have to access the FusionMarkets-Live server. 

The mobile trading platform is available in 21 languages. This is one of the most extensive offers.

Look and feel

The 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 a one-step login.

Search functions

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

Placing orders

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

Alerts and notifications

You can't set alerts and notifications on the Fusion Markets mobile platform. However, you can set mobile push notifications 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

Fusion Markets review
Desktop trading platform 3 stars

In design and functionalities, Fusion Markets' 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, available in the same languages, offers the same order types, has the same search functions, and offers the same portfolio and fee reports.

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

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74-89% of retail CFD accounts lose money

Fusion Markets review
Markets and products 1 stars

At Fusion Markets, you will have access only to some forex and CFDs. It lacks a lot of popular asset classes, like stock, ETF, fund, etc.

Fusion Markets is a forex broker with some CFDs. To learn more on 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 has a limited product portfolio. You can trade only with forex, stock index CFDs and commodity CFDs. It lacks stock CFDs, and bond CFDs. This offer lags behind even the competitors' limited product portfolios.

Fusion Markets states on the website that they offer crypto CFDs, but on the MetaTrader trading platforms, you can't trade with them.

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

Fusion Markets review
Research 2 stars

The research tools of Fusion Markets can be improved. You can use only the research tools at the MetaTrader 4 platform. The trading ideas, fundamental data, and news are missing. As a plus, you can add research tools, however, they are usually not free.

Fusion Markets doesn't have an in-house research team, you can use only the MetaTrader 4 trading platform's research tools. Just like the MetaTrader trading platform, the research tools are available in a lot of languages.

In this review, we tested the research tools available for free which cover the charting tools.

Trading ideas

Fusion Markets does not provide 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 editor tools, like trendlines or Fibonacci retracement.

On the negative side, the design is outdated and some features are hard to use. For example, we hardly found how we could remove an indicator from the chart.

News feed

Fusion Markets doesn't offer news. 

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Fusion Markets review
Customer service 5 stars

Fusion Markets has great customer support. You can contact them in a lot of ways and get answers within a short time. However, they are available only 24/5.

You can contact Fusion Markets via:

• live chat
• telephone
• email

Fusion Markets has a fast live chat. For the majority 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 and 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 kind, but it was a bit annoying that on phone and live chat they pushed 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.

We missed is 24/7 availability as they are available only 5 days a week.

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74-89% of retail CFD accounts lose money

Fusion Markets review
Education 2 stars

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 add your email address and create a password. After you have to log into the client portal and at the accounts, you can select the demo account.

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74-89% of retail CFD accounts lose money

Fusion Markets review
Safety

Fusion Markets is regulated by the top-tier Australian regulator, ASIC. On the flip side, it does not provide investor protection and negative balance protection.

Is Fusion Markets regulated?  Yes, it is regulated by the Australian Securities and Investments Commission (ASIC).

Is Fusion Markets safe? To be certain, it is best to check two things: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

Fusion Markets provides its services through its Australian legal entity. This is regulated by the Australian Securities and Investments Commission (ASIC). This matters since no investor protection is provided.

Fusion Markets doesn't provide negative balance protection either.

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.

Being regulated by a top-tier regulator and being in operation for a long time are all great signs for Fusion Markets's safety.

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Fusion Markets review
Bottom line

Fusion Markets is a great forex broker. 

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

On the negative side, Fusion Markets offers only forex and some CFDs. The research tools and educational tools are limited.

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