Summary

Recommended for forex traders looking for low fees and a chance to use the MetaTrader 4 platform

Open account
74-89% of retail CFD accounts lose money

Fusion Markets is an Australian discount forex broker founded in 2010. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

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 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.

Best discount forex broker Best MetaTrader broker

We selected Fusion Markets as Best discount forex broker and Best MetaTrader broker for 2021, based on an in-depth analysis of 70+ online brokers that included testing their live accounts. Check out the complete list of winners.

Overall Rating
4.5
Fees
4.8
Account opening
5.0
Deposit and withdrawal
4.4
Trading platform
3.2
Markets and products
1.8
Research
4.0
Customer service
4.5
Education
1.5

Fusion Markets pros and cons

Fusion Markets has low trading and non-trading fees, and account opening is easy and fast. Its customer service is great, providing fast and relevant answers.

On the negative side, it there is only a demo account as an educational tool, no videos or articles. The product portfolio covers only forex, CFD and crypto asset classes. Lastly, there is no investor protection provided.

Pros Cons
Low trading and non-trading fees Basic educational tools
Fast and easy account opening Limited product selection
Great customer service No investor protection
Fusion Markets main features and highlights
🗺️ Country of regulation Australia, Vanuatu
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 6
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto
Open account
74-89% of retail CFD accounts lose money

Author of this review

Ádám Nasli

Author of this review

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Fusion Markets review
Fees

4.8
To find out more about its trading and non-trading fees, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
Fusion Markets has low forex and CFD fees and charges no inactivity or withdrawal fees.
Pros Cons
Low non-trading fees None
Low forex fees
No withdrawal or inactivity fees
Fusion Markets fees snapshot
Assets Fee level Fee terms
EURUSD Low Zero account pricing: $2.25 per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours.
GBPUSD Low Zero account pricing: $2.25 per lot per trade plus spread cost. 0.14 pips is the average spread cost during peak trading hours.
S&P 500 CFD Low The fees are built into the spread, 0.4 points is the average spread cost during peak trading hours.
Inactivity fee Low No inactivity fee

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.

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, 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 the trading fees.

Fusion Markets trading fees

Fusion Markets trading fees are low.

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.

Fusion Markets forex benchmark fees of a $20,000 30:1 long position held for one week
  Fusion Markets Pepperstone IC Markets
EURUSD benchmark fee $4.9 $10.0 $7.7
GBPUSD benchmark fee $4.2 $9.0 $6.3
AUDUSD benchmark fee $3.3 $10.9 $6.7
EURCHF benchmark fee $2.3 $4.6 $5.3
EURGBP benchmark fee $5.0 $11.7 $7.5

CFD fees

Fusion Markets has generally low CFD trading fees.

Fusion Markets CFD fees for a $2,000 long position held for one week
  Fusion Markets Pepperstone IC Markets
S&P 500 index CFD fee $0.0 $1.2 $1.6
Europe 50 index CFD fee $1.5 $1.6 $1.6

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.

Fusion Markets non-trading fees
  Fusion Markets Pepperstone IC Markets
Account fee No No No
Inactivity fee No No No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Fusion Markets review
Account opening

5.0
To experience the account opening process, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
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.
Pros Cons
Fast None
Fully digital
No minimum deposit

Can you open an account?

Open account
74-89% of retail CFD accounts lose money

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
  • ECN 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.
Fusion Markets review - Account opening

Fusion Markets review
Deposit and withdrawal

4.4
To find out more about the deposit and withdrawal process, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
Fusion Markets does not charge any fees for deposits and most withdrawal options. You can use bank transfer, credit/debit cards and electronic wallets for adding money; however, there are no minor account currencies accepted.
Pros Cons
Credit/Debit card available No minor account currencies accepted
Free withdrawal
No deposit fee

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.

CAD is also available to use as a base currency, but only at Fusion Markets X, Fusion Markets's sister company, which is regulated by Vanuatu's financial authority.

Base currencies at Fusion Markets vs similar brokers
  Fusion Markets Pepperstone IC Markets
Number of base currencies 6 10 10

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 or PerfectMoney.

Fusion Markets deposit options
  Fusion Markets Pepperstone IC Markets
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

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 review - Deposit and withdrawal - Deposit

Fusion Markets withdrawal fees and options

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

Fusion Markets withdrawal fees and options
  Fusion Markets Pepperstone IC Markets
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets No Yes Yes
Withdrawal fee $0 $0 $0

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

Fusion Markets review
Web trading platform

2.8
To try the web trading platform yourself, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
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.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Fusion Markets platforms to choose from
Trading platform Score Available
Web 2.8 stars Yes
Mobile 3.8 stars Yes
Desktop 3.4 stars Yes

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.

Fusion Markets web trading platform languages
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch     English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese  

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.

Fusion Markets review - Web trading platform

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.

Fusion Markets review - Web trading platform - Search

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
  • Trailing Stop

Trailing Stop is available only in the MT4 desktop platform

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)
Fusion Markets review - Web trading platform - Order panel

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.

Open account
74-89% of retail CFD accounts lose money

Fusion Markets review
Mobile trading platform

3.8
To try the mobile trading platform yourself, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
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.
Pros Cons
User-friendly No two-step (safer) login
Good search function No Touch/Face ID login
Price alerts

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.

Fusion Markets mobile trading platform languages
Arabic Chinese (Simplified) Chinese (Traditional) Czech English
French German Greek Hindi Indonesian
Italian Japanese Korean Polish Portuguese
Portuguese (Brazil) Russian Spanish Thai Turkish
Ukrainian Vietnamese      

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.

Fusion Markets review - Mobile trading platform

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.

Fusion Markets review - Mobile trading platform - Search

Placing orders

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

Fusion Markets review - Mobile trading platform - Order panel

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.

Open account
74-89% of retail CFD accounts lose money

Fusion Markets review
Desktop trading platform

3.4
To try the desktop trading platform yourself, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
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.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) Poor design
Price alerts

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'.

Fusion Markets review - Desktop trading platform

Open account
74-89% of retail CFD accounts lose money

Fusion Markets review
Markets and products

1.8
To dig even deeper in markets and products, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
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 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.

  Fusion Markets Pepperstone IC Markets
Currency pairs (#) 81 61 60
Stock index CFDs (#) 12 14 16
Commodity CFDs (#) 15 16 23
Cryptos (#) 4 5 10

You can set the maximum leverage at a value between 100:1 and 500:1. These levels are much higher than in the EU since Fusion Markets is regulated in Australia.

Fusion Markets review
Research

4.0
To check the available research tools and assets, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
Fusion Markets has great research. From trading ideas to quality news feeds, you can many research tools. On the negative side, the charting tools, provided by MetaTrader, have an outdated design.
Pros Cons
Trading ideas Charting with outdated design
Data on asset fundamentals
Quality news flow

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.

Fusion Markets review - Research - Recommendations

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. 

Fusion Markets review - Research - 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 to remove an indicator from the chart.

Fusion Markets review - Research - Charting

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. 

Fusion Markets review - Research - News

Compare research pros and cons

Fusion Markets review
Customer service

4.5
To find customer service contact information details, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
Fusion Markets has great customer support that is available on various channels and provides quick answers. However, customer service is not available 24/7.
Pros Cons
Phone support No 24/7 support
Live chat
Fast response time

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.

Fusion Markets review - Customer Service

Open account
74-89% of retail CFD accounts lose money

Fusion Markets review
Education

1.5
To check the available education material and assets, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
Fusion Markets offers only a demo account as an educational tool. It lacks educational videos, platform tutorial videos and educational texts.
Pros Cons
Demo account No trading platform tutorial videos
No educational videos

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.

Fusion Markets review - Education

Open account
74-89% of retail CFD accounts lose money

Fusion Markets review
Safety

To find out more about safety and regulation, visit Fusion Markets
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone
Fusion Markets is regulated by top-tier Australian authority ASIC as well as the regulator of Vanuatu. Neither provides investor or negative balance protection.
Pros Cons
Regulated by top-tier financial authority No investor protection
No negative balance protection
Not listed on stock exchange

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 an Australian legal entity, Gleneagle Asset Manangement Pty Limited, which is regulated by both ASIC and the VFSC. This means that no investor protection is provided. Moreover, Fusion Markets doesn't provide negative balance protection either. 

Your regulator will depend on which Fusion Markets brand you are registering with and the country of your residence. Any client that wants to have the Canadian dollar (CAD) as their account base currency, as well residents of Ontario, Canada, will automatically fall under the regulation of the VFSC.

Fusion Markets regulators
Brand Regulator Availability
Fusion Markets Australian Securities and Investments Commission (ASIC) Available in almost every country*
Fusion MarketsX Vanuatu Financial Services Commission (VFSC) Available in almost every country, except the US, New Zealand and Vanuatu

*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 review
Bottom line

Visit Fusion Markets if you are looking for further details and information
Open account 74-89% of retail CFD accounts lose money

or
Compare to its best reviewed alternative: Pepperstone

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.

Open account
74-89% of retail CFD accounts lose money

Share

Comments

Open account
74-89% of retail CFD accounts lose money
×