In this article we give our assessment of Fusion Markets, covering its strengths, drawbacks, and pricing.
Fusion Markets is an Australian broker founded in 2017 and launched to clients in 2019 by CEO Phil Horner. Headquartered in Melbourne, its stated mission is lowering trading costs. The focus is primarily forex, alongside commodities, metals, indices, cryptocurrency, and US stock CFDs.
The platform is available in most countries, with notable exceptions including the United States and its territories.
One point to establish upfront: Fusion Markets is a CFD and forex broker. It does not offer real shares, ETFs, or bonds, which makes it suited to active trading rather than long-term investing.
Highlights
| 🌎 Supported countries | Most countries (exceptions apply, including the US) |
| 💰 Trading fees | $2.25 commission per side on forex; commission-free on stock CFDs |
| 📈 Spreads | From 0.0 pips on EUR/USD (0.03 average) |
| 💰 Inactivity, deposit, and withdrawal fees | $0 |
| 💵 Minimum deposit | $0 |
| 📍 Products offered | Forex, commodities, metals, indices, cryptocurrency, and US stock CFDs |
| 🎮 Demo account | Yes |
| 📜 Regulators | ASIC (Australia), VFSC (Vanuatu), FSA (Seychelles) |
Note that the entity serving you determines your protection. ASIC regulation brings meaningfully stronger safeguards than the Vanuatu or Seychelles entities, which carry no investor compensation scheme. Confirm which applies before depositing.
Pros and cons
Pros
- Low fees and spreads
- No hidden fees, such as deposit, withdrawal, or inactivity fees
- Different account types to choose from
- Demo account is available
- Access to different trading platforms and applications
- Great customer service and reviews
Cons
- No investor protection
- Limited product selection (no physical stocks, bonds, ETFs, etc.)
- Limited educational tools
Trading platforms
Other than the aforementioned Classic, ZERO, and Swap Free accounts, which differ mainly in their fee structure and offer of certain products, Fusion Markets also offers a demo account. This is a nice benefit for beginner traders, as well as more experienced traders looking to familiarise themselves with the platform before starting to trade with real funds.
As far as different platforms go, Fusion Markets is available mainly in MetaTrader 4/5, TradingView and cTrader:
Concerning cTrader, it is available as a desktop (cTrader Desktop), web (cTrader Web), and mobile (cTrader Web) application. They all offer trading tools, such as time frames and indicators, in a simple and clean interface.
Web and desktop apps also offer advanced charting and risk management tools, which are lacking on the mobile version.
The desktop app offers the most features, most notably the cAlgo feature, which allows the creation of automated trading strategies. Some of its other features include one-click trading and 3 market depth settings (standard, price, and VWAP).
The mobile app also offers push notifications in case you need to stay atop of your trades when you’re on the move. You can find more information about all 3 applications here.
Many traders are also going to welcome the availability of MetaTrader 4 (desktop, web, and mobile) and MetaTrader 5 trading platforms. They are both geared towards more experienced investors since they come in the “empty shell” look and allow traders to build their own interface for the most part.
Numerous advanced features are available with the MetaTrader 4 desktop platform, including quick trade execution, one-click trading, real-time quotes and news feeds, 50+ indicators and scripts, built-in programming language MQL4, and more.
The web app (MT4 WebTrader) offers many similar tools to the desktop version, but some features are missing. The mobile app is limited to opening/closing positions, checking live pricing, and using some analytics tools.
MetaTrader 5 is the most modern trading platform on the market. It boasts some upgrades over the MT4 version, such as support for multiple asset classes, even faster trade processing, 21 timeframes, 80+ technical analysis objects, and more.
You can find more info about their MT4 desktop, web, and mobile apps, as well as the MetaTrader 5 platform here.
Access to TradingView, a charting platform used by over 50 million people, is also available. TradingView is integrated with cTrader’s backend, enabling seamless trade execution. This setup allows traders to take advantage of TradingView’s advanced charting features alongside cTrader’s reliable execution system, while benefiting from the competitive spreads offered by Fusion Markets.
There are some additional account types to choose from for professional traders, including Multi Account Manager (MAM/PAMM), which allows money management for other clients, and DupliTrade, which allows for trade duplication from picked investors in the MT4 platform. You can read more about them here.
Products and markets
Forex is Fusion Markets’ core offering, with 90+ currency pairs, tight spreads, and trading available around the clock from Monday to Friday. Commodities, metals, indices, cryptocurrency, and US stock CFDs are also covered.
Physical stocks, bonds, ETFs, and funds are not available. Everything traded here is a derivative, meaning you gain price exposure without owning any underlying asset.
Eight base currencies are supported: USD, EUR, GBP, AUD, JPY, SGD, THB, and CAD. Deposits are fee-free across a wide range of methods including Visa and Mastercard, PayPal, Skrill, Neteller, cryptocurrencies, and bank transfer, with local transfer options in selected countries.
Stock CFD trading is available only on MetaTrader 5, covering around 110 large US companies. There are no monthly data fees, account minimums, or brokerage charges, with maximum leverage of 20:1. The full list is here.
Maximum leverage varies by product and by the entity serving you. Clients under the VFSC entity or on Fusion Pro can access up to 1:500 on forex and metals, with indices capped at 1:100 and crypto at 1:10.
Australian clients under ASIC face considerably lower limits:
- Major forex: 1:30;
- Minor forex: 1:20;
- Major indices: 1:20;
- Gold: 1:20;
- Commodities excluding gold: 1:10;
- Stocks: 1:5;
- Crypto CFDs: 1:2.
That gap is worth understanding rather than treating as a feature. ASIC caps leverage at 30:1 precisely because higher levels reliably produce rapid losses among retail traders – the same reasoning applied by EU and UK regulators. Access to 1:500 through an offshore entity is not a benefit that Australian clients are missing out on; it is a level of risk their regulator has deliberately restricted.
A social trading feature, Copy Trading, is available through the Fusion+ account. It allows you to copy other traders, let others copy you, or mirror trades between your own accounts.
The service is free provided you or your followers trade at least 2.5 lots of forex or metals monthly, with a $10 monthly fee otherwise. Signal providers can charge followers a performance fee of up to 30%.
Worth weighing before following anyone: the minimum volume requirement creates an incentive to trade more actively than a strategy might warrant, and performance fees of up to 30% are substantial. Review a provider’s full track record, including drawdowns rather than headline returns alone, before allocating capital.
Fees and spreads
| Fee type | Fee value |
| Deposit fee | $0 |
| Inactivity fee | $0 |
| Commission fees | Varies by account type and instrument: $2.25 commission per side when trading the largest Forex pairs; no commission for CFDs |
| Withdrawal fee | $0 |
| Account fee | $0 |
| Spreads | Varies by account type and instrument (explained below) |
| Overnight financing fees | Low (applied on CFD positions) |
Fusion Markets’ fees and spreads vary based on your chosen account type. When forex trading with their ZERO account, there is a $2.25 commission per side, and spreads start from 0.0 for EUR/USD (0.03 average spread). Their Classic account offers zero commissions on paper, but they are actually included in the higher spreads (starting at 0.9).
This usually makes the Classic account the more expensive option overall. To get the exact Classic account spreads, just add 0.9 to the spreads listed for their ZERO account.
Below, we have listed some of the more popular trading pairs and their spreads.
Spreads
| Trading pair symbol | Minimum spread (ZERO account) | Average spread (ZERO account) | Minimum spread (Classic account) | Average spread (Classic account) |
| EURUSD | 0.00 | 0.03 | 0.90 | 0.93 |
| AUDUSD | 0.00 | 0.10 | 0.90 | 1.00 |
| USDJPY | 0.00 | 0.14 | 0.90 | 1.04 |
| GBPUSD | 0.00 | 0.14 | 0.90 | 1.04 |
| USDCHF | 0.00 | 0.31 | 0.90 | 1.21 |
| USDCAD | 0.00 | 0.11 | 0.90 | 1.01 |
| EURCHF | 0.00 | 0.46 | 0.90 | 1.36 |
| EURGBP | 0.00 | 0.15 | 0.90 | 1.05 |
| XAGUSD | 0.00 | 0.80 | 0.90 | 1.70 |
| XAUUSD | 0.00 | 1.05 | 0.90 | 1.95 |
No commission is charged when trading with metals, commodities, or indices CFDs. You can find more information about offered instruments and their associated spreads here.
As far as crypto CFD trading goes, there is no commission, with Bitcoin spreads starting at 0.04% and Ethereum spreads starting at 0.09%. Non-CFD crypto trading is not available. You can find more info about their crypto CFD trading and associated spreads here.
It is important to note that when trading with CFDs, there is an overnight financing fee per day on open positions unless you open a swap-free account option. These are designed for investors whose religious beliefs prevent them from receiving or paying overnight swap fees. You can read more about available products and spreads in their swap-free account here.
It is important to note that there are no additional fees, such as deposit, inactivity, or withdrawal fees. There is also no minimum deposit amount required to start trading.
Safety and regulation
Fusion Markets is regulated by the Australian Securities and Investment Commission (ASIC), Vanuatu Financial Services Commission (VFSC), and Financial Services Authority (FSA) in the Seychelles.
Depending on your residency, you may open your Fusion Markets account overseen by a different regulatory entity. For instance, only Australian Fusion Markets investors are regulated by ASIC, which offers negative balance protection.
Regardless of the regulator in question, your funds are not held by Fusion Markets themselves but in a segregated bank account, which is a common practice for online brokers.
One thing that is very important to note is that there is no investor protection when investing with Fusion Markets. This fact is poorly communicated on their website and is one of their major cons, in our opinion.
Even though Fusion Markets is regulated by ASIC, a top-tier regulator, it lacks investor protection, does not have a banking license, is not publicly listed, and is a recent company, which have downsides when compared to some of the other players in the market.
You can read more about Fusion Markets regulation here.
User reviews
Fusion Markets boasts excellent reviews on independent sites such as Trustpilot, which is a rarity for any online broker. They also seem committed to responding to their customers’ reviews, positive or negative.
Their head office in Melbourne, Australia, also has very positive reviews. Similar (mostly positive) customer experiences can be found on social networks such as Reddit.
Bottom line
Fusion Markets offers a simple interface, low spreads and fees, and modern trading platforms and tools. These factors, along with the offer of a demo account, make it a good choice for both beginners and experienced traders.
However, if you are looking for a broker with access to physical stocks, bonds, or ETFs, you are out of luck. One of the other reasons for concern is the lack of educational tools (videos, courses, etc.) and especially the lack of investor protection.
Hopefully, we made your choice of online brokers easier with this review. Happy trading!
FAQs
What is Fusion Markets’ minimum deposit?
There is no minimum deposit required to open a Fusion Markets account.
Fusion Markets supported currencies
You can hold 8 base currencies in your Fusion Markets account, namely USD, EUR, GBP, AUD, JPY, SGD, THB, and CAD. You can also trade with 90+ currency pairs.
Does Fusion Markets have a demo account?
Yes, Fusion Markets offers a demo account.
How to open a Fusion Markets account?
Head out to Fusion Markets’ website and follow their simple onboarding process. It’s not much different from other platforms, requiring some of your personal data and a valid ID to pass the KYC (Know Your Customer) requirements.
