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Fusion Markets

74-89% of retail CFD accounts lose money.

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Updated on Apr 8, 2024
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Hello there, fellow investor! In this article, we will give our honest review of Fusion Markets, containing its pros, cons, fees, and more.

Fusion Markets is an Australian broker founded in 2017 (launched trading for clients in 2019) by its current CEO, Phil Horner. They are headquartered in Melbourne, Australia, and state that their mission is lowering costs for traders. While mainly focused on forex trading, the platform also offers investing in commodities, metals, indices, cryptocurrency, and US stocks CFDs.

The platform is available globally, with some notable exceptions, such as the US and its territories.

Highlights

🌎 Supported countries Globally (exceptions apply, such as the US)
💰 Trading fees $2.25 commission per side (forex); commission-free for stock CFDs
📈 Spreads Starting at 0.0 for EUR/USD (0.03 average)
💰 Inactivity, deposit, and withdrawal fees $0
💵 Minimum deposit $0
📍 Products offered Forex, commodities, metals, indices, cryptocurrency, and US stocks CFDs
🎮 Demo account Yes
📜 Regulators ASIC, VFSC, FSA

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 platform

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 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.

cTrader web app: author account

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.

Author account

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.

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

Fusion Markets’ core product seems to be forex trading, with 90+ currency pairs offered, tight spreads, and trading access 24 hours a day (Monday through Friday). They also offer commodities, metals, indices, cryptocurrency, and US stocks CFDs.

However, physical stocks, bonds, ETFs, and other products are not available.

There are 8 base currencies that you can hold in your account, namely USD, EUR, GBP, AUD, JPY, SGD, THB, and CAD. There are many deposit fee-free options to choose from, including Visa, MasterCard (credit & debit), PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Cryptos, or bank wire. The same applies to local bank transfers in selected countries.

Stocks CFD trading is only available on the MetaTrader 5 platform and with only 110 of some of the largest US stocks. They don’t charge monthly data, minimum account, or brokerage fees for CFD stock trading. Maximum leverage is set at 20:1, and you can see more information about their stocks CFD trading, including a list of available stocks here.

Maximum available leverage may be lower or higher for different products and users residing in different countries. For example, clients regulated by VFSC or Fusion Pro clients can have access to up to a 1:500 leverage when trading forex or metals. Still, indices and crypto CFD trading are limited to 1:100 and 1:10 leverage, respectively.

Maximum leverage available for their Australian clients regulated by ASIC is somewhat lower:

  • Major Forex 1:30
  • Minor Forex 1:20
  • Major Indices 1:20
  • Gold 1:20
  • Commodities (excluding Gold) 1:10
  • Stocks 1:5
  • CFDs on Crypto 1:2
Author account

A social investing feature called Copy Trading is also available inside their Fusion+ account. It allows for copying trades of other traders, allowing other traders to copy your trades, or copying your trades between your Fusion markets accounts. It is free of charge but requires the account holder and followers to trade at least 2.5 lots of forex or metals per month (otherwise, there is a $10 monthly fee). There is also an option to charge your clients up to a 30% performance fee.

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.

View from cTrader showing market sentiment on Apple stock

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.

Licenses and regulation

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.

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Toni Vitali
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Toni is passionate about all-things investment and is the owner of one of the leading personal finance and investment blogs in Croatia.