Fusion Markets review for 2023
Fusion Markets is an Australian-based Forex brokerage platform established in 2010. The regulatory authorities overseeing this platform are 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. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should thoroughly understand how CFDs work and consider whether you can afford the high risk of losing money.
Fusion Markets has been voted as the best retail Forex broker and the best MetaTrader broker in 2022, based on an in-depth analysis of over 100 online brokerage platforms, including testing real-money accounts.
Pros and Cons of Fusion Markets:
Fusion Markets offers low trading and non-trading fees, and it’s easy and quick to open an account. The trading platform provides excellent customer service with quick and reasonable responses.
On the downside, their educational tools only include a demo account, and there are no videos or articles available. The product portfolio is limited to Forex, CFDs, and cryptocurrencies. Lastly, they do not offer investor protection.
|• Low trading and non-trading fees||Limited educational tools|
|• Quick and easy account opening||• Limited product portfolio|
|Excellent customer service||• Lack of investor protection|
The main features and highlights of Fusion Markets include:
Fusion Markets charges low fees for Forex and CFD trading, with no inactivity fees or withdrawal fees.
Fusion Markets Fee Structure
|EURUSD||low||Zero Account Pricing:
|GBPUSD||low||Zero Account Pricing (During Off-Peak Hours):
|S&P 500||low||Accumulated fees are included in the spread cost:
Fusion Markets Trading Fees
Fusion Markets’ trading fees are considered low. The platform offers various account types with different pricing structures. You can analyze this when experiencing the ZERO account.
Comparing trading fees between forex brokers can be challenging. To do so, you need to calculate all the fees for a typical trade across selected products.
For example, you can choose popular instruments within each asset class typically provided by forex brokers, such as:
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF và EURGBP
- CFD Stock Indices: SPX and EUSTX50
A typical trade involves buying a leveraged product, holding it for a week before closing it. If trading by volume, let’s assume you choose a $20,000 position for forex and a $2,000 position for stock indices and CFDs. The corresponding leverage used is:
- 30:1 Forex
- 20:1 CFD Stock Indices
All standard fees include spreads, commissions, and deposit fees for all brokers. Let’s calculate Fusion Markets’ fees.
Fusion Markets’ Forex fees are low; the platform charges fees similar to the tightest competitors.
Fusion Markets’ standard Forex fee for a $20,000 buying position held for a week
|standard fee EURUSD||5,9 USD||6,2 USD||5,7 USD|
|standard fee GBPUSD||4,0 USD||3,3 USD||3,7 USD|
|standard fee AUDUSD||5,2 USD||5,2 USD||4,6 USD|
|standard fee EURCHF||3,6 USD||3,1 USD||3,9 USD|
|standard fee EURGBP||6,4 USD||6,3 USD||6,6 USD|
Fusion Markets’ CFD fee for a $2,000 buying position held for a week.
|Phí CFD S&P 500||1,0 USD||1,4 USD||1,1 USD|
|Phí CFD Europe 50||1,3 USD||1,5 USD||1,1 USD|
The account opening procedure at Fusion Markets is user-friendly and entirely digital. It is also very fast – the demo account is verified on the same day after registration.
|• Completely digital|
|• No minimum deposit requirement|
Fusion Markets accepts customers from various parts of the world, with some exceptions, notably the United States and New Zealand.
Minimum Deposit at Fusion Markets
The minimum deposit requirement at Fusion Markets is $0.
Types of Accounts
There are two different account types in terms of fee structure:
- Classic Account – fees are integrated into the spread, and there is no commission fee.
- ZERO Account – lower spreads but with a commission fee.
Fusion Markets also provides business accounts.
How to Open an Account
The account opening procedure at Fusion Markets is straightforward and entirely digital. Completing the online registration form takes about 10-15 minutes, and typically, the account is approved on the same day.
5 steps to open an account at Fusion Markets:
- Enter your email address and create a password.
- Log into the customer portal interface and go to the ‘Profile’ section.
- Add your personal information such as date of birth and place of residence.
- Choose the type of account, leverage level, and set up security questions.
- Verify your identity and place of residence by uploading your passport/ID card/driving license and a bank statement or utility bill copy.
The best alternatives to Fusion Markets
The top-ranked competitors include:
Deposits and Withdrawals
At Fusion Markets, most withdrawal transactions are free, and you can use bank transfers, credit/debit cards, and electronic wallets to deposit funds. However, you cannot open an account using secondary currencies.
|• Credit/debit cards accepted.||
• Does not accept secondary account currencies.
|• Free withdrawals.|
|• No deposit fees.|
Base Account Currency
At Fusion Markets, you can choose from 7 primary base account currencies, including USD, EUR, GBP, AUD, JPY, SGD, THB.
CAD has been removed as Fusion Markets X is no longer operational.
The base currency options at Fusion Markets compared to similar brokerage platforms.
|Base Currency Amount||7||11||7|
Why is the base currency important? There are two reasons. If you deposit funds into your trading account using the same currency as your bank account or trade assets in the same currency as the base currency of your trading account, you won’t have to pay currency conversion fees.
A convenient way to save on currency conversion fees is to open a multi-currency bank account with a digital bank. This bank provides accounts with multiple currencies at favorable exchange rates and allows for free or low-cost international bank transfers. You can open an account on your phone in just a few minutes.
Fees and Payment Methods
Fusion Markets does not charge any deposit fees. In addition to bank transfers, you can also use credit/debit cards or electronic wallets such as Neteller, PerfectMoney, or PayPal.
Deposit Methods at Fusion Markets
Bank transfers may take several working days, whereas payments with credit/debit cards are processed instantly. You can only deposit money from accounts in your own name.
Fees and Withdrawal Methods at Fusion Market
At Fusion Markets, withdrawals are free when using credit/debit cards, e-wallets, and bank transfers to Australian bank accounts. However, the withdrawal fee for international bank transfers is relatively high, at 20 AUD.
Fees and Withdrawal Methods at Fusion Markets
|Phí rút tiền||0 USD||0 USD||0 USD|
For credit/debit cards, the withdrawal amount cannot exceed the amount you deposited. This means that profits from your trading activities can only be withdrawn via bank transfer.
The minimum withdrawal amount is 35 USD.
How long does it take to withdraw money from Fusion Markets? Based on our experience, withdrawals via debit card take over 3 business days.
Steps to Withdraw Money from Fusion Markets:
- Log in to the customer portal.
- Go to ‘Payments.’
- Select ‘Withdraw Funds.’
- Enter the withdrawal amount and choose the withdrawal method.
- Initiate the withdrawal.
Web Trading Platform
Fusion Markets’ web trading platform (provided by MetaTrader) offers high customization capabilities and provides clear fee reports. However, the platform’s design is outdated, lacks two-factor authentication, and does not have price alerts.
|Ưu điểm||Nhược điểm|
|• Báo cáo phí rõ ràng||• Không có đăng nhập hai bước (an toàn hơn)|
|• Khả năng tùy chỉnh tốt (đối với biểu đồ, không gian làm việc)||• Không có cảnh báo giá|
|• Có xác nhận lệnh||• Thiết kế kém|
You can use basic order types, but you won’t find more complex ones like ‘cancel other orders.’ The available order types include:
Additionally, there are time-in-force options you can use:
- Good ’til Cancelled (GTC)
- Good ’til Time (GTT)
Desktop Trading Platform
In terms of design and functionality, Fusion Markets’ desktop trading platform, MetaTrader 4, is quite similar to the web trading platform. One significant difference is that you can set price alerts here.
|• Clear fee reports||• No two-factor authentication (less secure)|
|• Excellent customization options (for charts, workspace)||
• Poor design
|• Price alerts available|
Fusion Markets provides MetaTrader 4 for their desktop trading platform.
It has the same design, is available in the same languages, offers the same order types (including Stop Loss orders), and has a similar search function as the web trading platform. Portfolio investment reports and fee reports are also clear, and you can download reports by right-clicking on the History tab and selecting “Save as Detailed Report.”
The main difference is that here you can set alerts and notifications in the form of push notifications on your mobile phone and email. To do this, you need to add your email address and MetaQuotes ID on your mobile device (you can find this address in the settings of the MT4 app) by going to the ‘Tools’ menu and then ‘Options.’
Desktop Trading Platform
Market and Products
Fusion Markets offers a variety of currency pairs and some CFDs. However, it doesn’t provide an extensive range of common assets such as real stocks, ETFs, and funds.
Fusion Markets is a forex broker that also offers some CFDs.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 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 offers an excellent portfolio of currency pairs, making it one of the most diverse forex brokers. You can also trade cryptocurrencies, stock index CFDs, commodity CFDs, and stock CFDs. However, ETFs and bond CFDs are not available.
Is Fusion Markets regulated?
Fusion Markets is headquartered in Australia, established in 2010, and is regulated by the Australian Securities and Investments Commission (ASIC) as well as the Vanuatu Financial Services Commission (VFSC).
Is Fusion Markets safe?
To determine whether a broker is safe, you should consider two key factors:
- How you are protected in case of an issue.
- The broker’s platform.
Customer Protection Mechanisms
Fusion Markets operates through two entities regulated by ASIC and VFSC, respectively. While it doesn’t offer investor protection, it does provide negative balance protection for clients under ASIC.
Regulatory Bodies and Authorities overseeing Fusion Markets.
|Legal Entities||Regulatory Authorities||Availability|
|Gleneagle Asset Management Pty Limited||
|Gleneagle Securities Pty Limited||
*Except for Myanmar, Ivory Coast, Democratic People’s Republic of Korea, Democratic Republic of the Congo, Eritrea, Former Soviet Union, Ghana, Iran, Iraq, Lebanon, Liberia, Libya, Japan, New Zealand, United States, Somalia, Sudan, Syria, and Zimbabwe.
Fusion Markets is a brand of Gleneagle Asset Management Pty Limited and was established in 2010. A broker’s longer track record often provides more evidence of its ability to survive through past financial crises.
Fusion Markets is an excellent Forex broker with very low trading and non-trading fees. Opening an account is quick and easy. Additionally, they offer good customer service with fast and reasonable responses.
As for disadvantages, Fusion Markets has limited educational tools, primarily focusing on Forex and some CFDs in its product portfolio. Lastly, it doesn’t provide investor protection.
So, if you’re looking to open an account quickly and pay low fees, consider giving Fusion Markets a try.