Fusion Markets Review 2021

Fusion Markets has low forex and CFD fees and charges no inactivity or withdrawal fees.

How we ranked fees

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

First, let's go over some basic terms 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.

In the sections below, you will find the most relevant fees of Fusion Markets for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared Fusion Markets's fees with those of two similar brokers we selected, Axi and Eightcap. 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 the trading fees.

Fusion Markets trading fees

Fusion Markets trading fees are low. Fusion markets offers different account tyoes, with different pricing. We tested the ZERO account. 

We know it's 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 have chosen 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 was:

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

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

Forex fees

Fusion Markets forex fees are low, especially in comparison to similar brokers.

CFD fees

Fusion Markets has generally low CFD trading fees.

At S&P 500 index CFD, the costs are off-set by the swap points you get.

Non-trading fees

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

Account opening at Fusion Markets is user-friendly and fully digital. It is also very fast, as our test account was verified the same day.

Can you open an account?

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Fusion Markets accept clients from all around the world, with some notable exceptions such as the US and New Zealand.

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 their pricing:

• Classic account – fees are built into the spreads, and no commission is charged
• ZERO account – there are tighter spreads but a commission is charged

Fusion Markets also offers corporate accounts.

How to open your account

Fusion Markets account opening is easy and fully digital. The online application takes roughly 10-15 minutes – in our case, the 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 residency.
4. Select the account type, leverage size, 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.

At Fusion Markets, most withdrawals are free, and you can use bank transfer, credit/debit cards and electronic wallets to add money. However, you can't open an account in minor currencies.

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.

Unfortunately, CAD is was removed, as Fusion Markets X is no longer in business.

This selection falls behind competing brokers. Both Axi and Eightcap offer more base currencies.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Fusion Markets charges no deposit fees. Besides bank transfer, you can also use credit/debit cards for depositing funds, as well as electronic wallets like Neteller, PerfectMoney or PayPal. 

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

At Fusion Markets, withdrawal is free for credit/debit cards, electronic wallets and bank transfers to Australian bank accounts. The fee for withdrawing funds via international bank transfer is quite high however, at AUD 20. 

For credit/debit cards, the withdrawal amount cannot exceed the amount you have deposited. This means that all profits from your trading activity 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 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 (provided by MetaTrader) is highly customizable and has a clear fee report. On the other hand, its design is outdated and it lacks a two-step login and price alerts.

Fusion Markets does not 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 where you can type in the asset's name manually.

Placing orders

You can use basic order types, but will not find more sophisticated ones like 'one-cancels-the-other'. 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. It is easy to find 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 have to 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 only via the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform itself.

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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 it.

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 plus Trailing Stop, and has the same search functions as the web trading platform. The portfolio and fee reports are clear as well, and you can download them if you click right on the History tab and click on "Save as detailed report".

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 them, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings), by going to the 'Tools' menu and then 'Options'.

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74-89% of retail CFD accounts lose money

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

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

Disclaimer: 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. 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, commodity CFDs and stock CFDs.  However, ETF and bond CFDs are not available.

Stock CFDs are available only on the MetaTrader 5 platform.

You can change leverage levels at Fusion Markets, which is great.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

Fusion Markets offers a social trading service.

Fusion Markets has great research. From trading ideas to quality news feeds, you can use many research tools. On the negative side, the charting tools, provided by MetaTrader, have an outdated design.

Except for charting tools, you can find Fusion Markets' research tools if you log in to Client Portal. The charting tools are on the MetaTrader trading platform.

Trading ideas

Fusion Markets provides trading ideas. These trading ideas are based on technical tools, like indicator movements or patterns on the charts.

Besides giving you an insight into whether you should go into long or short, you can also see the target prices.

Fundamental data

Fusion Markets has a great economic calendar. We really liked the feature that allows you to gauge historical volatility and trends: for example, if you see that a Bank of Canada interest rate decision is coming up, you can click the 'impact' button and see how the USD/CAD price evolved after recent decisions.

We also liked that you can filter for the events based on country and importance. 

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 to remove an indicator from the chart.

News feed

We liked Fusion Markets' news feeds. You can find them under the 'News' section. Not only can you filter the news feeds for a specific asset, but you are also shown a sentiment score for that asset. For example, if all the articles are bullish/positive, then a 100% positive score is given.

Additionally, we really liked the 'My Feeds' feature. With this tool, you can select the news provider or bloggers you would like to see the news from. 

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Fusion Markets has great customer support that is available on various channels and provides quick answers. However, customer service is not available 24/7.

You can contact Fusion Markets via:

• Live chat
• Telephone
• Email

Fusion Markets has a live chat that provides quick responses. We received relevant answers to our questions within seconds. The operators were also helpful and well-prepared.

Fusion Markets has great phone support. We connected with an agent within a minute and received relevant answers. All of our calls had a friendly tone and overall good quality.

We emailed Fusion Markets multiple times to re-test their service in our most recent review, and got answers to all our emails within a few hours, sometimes even minutes. The relevancy of the answers was also great.

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

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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 set 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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Fusion Markets is regulated by top-tier Australian authority ASIC as well as the regulator of Vanuatu. It provides negative balance protection for clients under ASIC. However, investor protection is not available.

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 if a brokerage is safe, 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 two legal entities. Regulated by both ASIC and the VFSC. This means that no investor protection is provided. However, Fusion Markets provide negative balance protection, but only for clients under ASIC. 

*Except Burma, Côte d’Ivoire, Democratic People's Republic of North Korea, the 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.

Find your safe broker

Fusion Markets is a great forex broker with very low fees. 

It offers low trading and non-trading fees. Account opening is fast and easy, and customer service provides quick and relevant answers.

On the negative side, Fusion Markets has limited educational tools. The product offering covers only forex and some CFDs. Lastly, there is no investor protection provided.

As you can open an account within a day and fees are low, feel free to try Fusion Markets.

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Below you can find links to all aspects of Fusion Markets in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Fusion Markets fees article.

What about the minimum deposit?

Our ultimate guide to the Fusion Markets minimum deposit is updated regularly.

How to start your Fusion Markets account?

Look no further than our evaluation of the Fusion Markets account opening.

How's their trading app?

Here's our expert view after checking the Fusion Markets trading app.

Is the quality of customer service satisfactory?

All you need to know about the Fusion Markets customer service.

Legit or scam?

Is Fusion Markets legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Fusion Markets is really free.

Is this broker good for beginners?

We checked it in Is Fusion Markets good for beginners.

Should you buy your silver bullets on Fusion Markets?

Research for silver bugs in the Silver buy on Fusion Markets guide

I want to trade options, are they available at Fusion Markets?

We explored the topic in Can you trade options on Fusion Markets?