|Regulated By||ASIC (Australia)|
|Account Currencies||AUD, CAD, EUR, GBP, JPY, SGD, USD|
|Traders from USA Allowed||No|
|Deposit Methods||Credit/Debit Cards, Wire Transfer|
|Withdrawal Methods||Credit/Debit Cards, Wire Transfer|
|Platforms Offered||MetaTrader 4, MetaTrader 4 iOS, MetaTrader 4 Android, WebTrader|
|Minimum Contract Size||0.01|
About Fusion Markets
In this Fusions Markets review, we focus on one of the newer players in the online trading industry. Fusion was founded in late 2017, while it began trading in early 2019. It is owned and operated by Australian forex industry experts.
Fusion Market accommodates clients in the financial markets looking to trade Forex, CFD, Commodities. It offers a helping hand to newcomers by offering a demo account in which all potential users could test the water before actually investing their own cash. Another positive note is that the entrance barrier has been lowered even further – when you decide to open a live account there is no minimum deposit requirement.
It is regulated by Australian Securities and Investment commissions (ASIC). Therefore, Fusions Markets is licensed to conduct services in Australia under license number 226199. If you live outside of Australia, you are out of luck, because this brokerage cannot legally operate in markets such as the United States, Iran, New Zeeland, Japan, and many others.
Fusion Markets offers the renowned MetaTrader (MT4) trading platform. It is very beginner-friendly and comes packed with a variety of features to enrich the user experience. MT4 is available on Web, Desktop (Mac, Windows, and Linux), and Mobile (Android and iOS).
The great thing about Fusion Market’s choice of platforms is that performance and tools you get are the same across all variants. You will have the same experience in your office as well as on the commute on your phone.
One of the best features of MT4 is its customizability. You can make use of many third-party trading tools to make your trading experience just the way you prefer. You must be aware that some of those tools are free of charge, while others are for sale and they don’t come cheap. For example, Fusion Markets has partnered up with DupliTrade so that traders can copy the actions of veteran traders in a click of a button. Beginners should definitely look out for this tool as it will be a major asset in the early stages of their trading career.
MT4 also provides automated trading with Expert Advisors (EAs). You will have to pay for this on from the market. If you feel like you have enough coding skills, you could develop your own EAs through MQL4, but if you don’t know how to code, or just don’t feel like wasting time on that, you can always pay professional developers to do so.
In order to accommodate traders who want to have a big and a diverse portfolio, Fusion Markets has a choice of more than a hundred tradable assets in markets including Forex, Commodities, Cryptocurrencies, CFDs, Stocks, Shares, Indices and more:
There are more than 90 major, minor, or exotic pairs to choose from. Leverage goes as high as 1:500, with tight spreads and no dealing desk executions.
You will be able to trade Natural Gas, Brent Oil, Crude Oil with decent margins, and no commission on trades.
Fusion Markets offers trading Gold, Silver, Platinum, Zinc, and more. Leverage can also go as high as 1:500 with the ability to go long or short with competitive cost
Equity markets from around the world can be accessed by all traders. You get flexible leverage and competitive spreads
Fusion Markets offers 5 cryptocurrency pairs including Bitcoin, Ethereum, Ripple, and Dash on commission-free trading.
Trading Accounts and Fees
Sadly, there are only 2 account types – the classic and true ECN. While both accounts are very similar in nature there is a key difference. You can have the same access to products with both accounts, but the difference is the way you pay. Like we mentioned previously, there is no minimum deposit and the leverage goes up to 1:500.
This one has been created with beginners in mind. Things are kept simple, and there is no commission charging whatsoever – it is all included in the spread. In return, all spreads are higher as a result, and they start from 0.8 pips.
True ECN Account
True ECN account is the more popular out of the two. This is mainly because spreads start at 0 pips and there is a very competitive commission fee of $4.50. With lower spreads, this account is perfect for those traders whose strategy depends on tight spreads, like scalpers for example.
Taking into consideration that Fusion Markets is a relatively new brokerage, it is highly advisable to keep checking the latest information before starting your first trade. We have seen cases of many new companies opening up with a tendency to update their fee policies while many traders remain unaware.
Deposit and Withdrawal
In this section of Fusion Markets review, I’m sad to say that there is a quite limited range of methods for depositing/withdrawing money from your account. You basically can choose from band wire and a credit/debit card. Luckily, there are no fees on deposits made via credit cards. On the other hand, you will be subjected to fees when using a bank wire.
When it comes to withdrawing money, we are happy to say that the request gets processed within a day or two, mostly depending on your payment provider. Bank transfers, on the other hand, may take as much as a full week.
Traders can open their accounts in a variety of currencies including USD, EUR, AUD, JPY, GBP, and SGD. This comes in quite handy as you don’t have to worry about conversion fees when you are using an account in your own money.
As long as you have a live account opened on Fusion Markets, you won’t have to worry about support. Each client receives his/her own trading specialist to help them navigate the platform and answer any possible questions. You can also submit inquires via online chat, email, or phone. Unlike many brokerages, it seems that Fusion Markets has spent time properly training its staff, as they appear to be both polite, and effective in solving problems.
This Fusion Markets review has found many good things on which we could recommend this brokerage. Offering a wide range of tradable assets with one of the lowest prices around is a huge plus in our book. Their overall package is commendable – Fusion Markets is a regulated brokerage with lowest advertised forex commissions (on average 36% cheaper than the competition).
The only major downside that needs to be mentioned is the absurd absence of any good educational tools. This is even more puzzling given the fact that Fusion Markets is beginner-friendly on every other corner. There is no economic calendar, no blogs, no useful tools for someone looking for help with their first trade. Sadly, Fusion Markets leaves those kinds of traders to learn by testing and figuring things out for themselves in the demo area, which is such a shame when everything else works pretty well.
All that being said, for individuals in Australia looking for a broker on a budget that can cover most of the basics, there are only a handful of brokerages that can compete.
- VPS available for a discount
- Highly competitive commissions
- Limited educational materials
- Limited trading tools.