Fusion Markets is a young Australian-based broker. It came into existence in 2017 but started providing Read More
Fusion Markets is an ambitious broker who has made a place in the low-cost niche with its excellent customer support, multiple regulations and low commissions. The broker is owned by GAML (Gleneagle Asset Management), a subsidiary of Gleneagle Securities. Fusion Markets traders can take advantage of Gleneage’s strong relationships with liquidity providers and access low commissions.
Features of Fusion Markets:
Types of Accounts:
Fusion Markets offers two types of trading accounts to its users: Zero and Classic. The trading conditions for the Zero account are more favorable as here, spreads start at zero, and the commission is $4.50. On the other hand, in the Classic account, the commission includes spread, which starts from 0.8 pips. For active traders, a Zero account is more preferable.
Just like many other well-known brokers, Fusion Markets also provides its customers with a demo account. The account is best for new traders to test out their strategies without putting their real funds at risk. This gives potential traders a chance to know what Fusion Markets has to offer. Thus, they don’t have to risk anything before being fully aware of the quality of service offered.
Investment Programs:
Fusion Markets also offers an opportunity to those traders who can’t trade on their own to invest money with fund manager to get decent returns. This can be done through MAM/PAMM accounts. These accounts are highly suitable for experienced traders who can manage their accounts as well as investors’ accounts. They can then receive a percentage of profits made through trades. Beginners also have the option to copy trades of other professional traders.
Offerings of Investments:
Although Fusion Markets is a Forex broker, it offers CFDs as well. In addition, the broker also provides a wide range of currency pairs. With Fusion Markets, you can trade a wide range of assets, including index CFDs, stock CFDs, commodities CFDs, crypto and more. However, it does not support ETF and bond CFDs. Stock CFDs are also only available on MetaTrader 5 trading platform.
Deposits and Withdrawals:
Fusion Markets provides access to seven different currencies: EUR, USD, GBP, JPY, SGD, THB and AUD. The best thing about Forex Markets is that there are no deposit and withdrawal fees. Furthermore, you can deposit your funds via debit/credit cards and e-wallets such as Neteller, PayPal and PerfectMoney. In addition, bank transfers are also available; however, they can take up to several days. On the other hand, deposits through credit/debit cards are instant. The minimum amount which you can withdraw with Fusion Markets is $35.
Trading Platforms:
Fusion Markets does not have its own platform but offers access to MetaTrader 4, which is a third-party platform. MT4 is a standard trading platform for Forex, all thanks to its speed, stability and convenience. In addition, Fusion Markets has recently added MT5 platform (MetaTrader 5), which is an advanced trading platform compared to MT4.
Customer Support:
Fusion Markets has a prompt live chat option. Thus, you can receive meaningful responses to the traders’ queries within minutes. The representatives are friendly and helpful and are prepared to respond to all the questions you might have. Their email service is also reliable, wherein you can receive responses to your emails within minutes or a few hours. However, the only drawback is the support service is only available five days per week. Hence, there is no 24*7 assistance available with Fusion Markets.
Regulations:
Fusion Markets is a well-regulated broker supervised by Vanuatu Financial Services Commission (VFSC) and the Australian Securities and Investments Commission (ASIC). The broker offers negative balance protection. However, there is no investor protection. Overall, Fusion Markets is a safe broker to trade with.
Trading Conditions for Fusion Markets:
Leverage:
The maximum leverage available with Fusion Markets is 1:500. However, retail traders in Australia have restricted access to leverage due to ASIC regulations. On the other hand, traders outside Australia have access to a more generous leverage allowance.
Spreads:
Fusion Markets offers tighter spreads on Classic accounts, which start from 0.9 pips on major currency pairs. Furthermore, there are no commissions on the Classic accounts as they are included in the spread itself. This type of account is more suitable for those who prefer simplicity and want to avoid calculating commissions prior to each trade.
On the other hand, the ZERO account has raw spreads with no markup. This type of account is suitable for those traders who know how commission sizing works.
Commissions:
Fusion Markets offers the lowest commissions on Forex trading compared to all other regulated brokers in Australia. There are no deposit and withdrawal fees, too.
Pros and Cons of Fusion Markets:
Pros:
- Low trading and non-trading fees compared to other competitive brokers
- No minimum deposit
- No inactivity and withdrawal fees
- Demo account available
- Hassle-free account opening process
- Well-regulated by top-tier regulatory bodies
- Negative balance protection
Cons:
- Limited range of tradable assets
- No educational tools
- Customer support is not available 24*7
- No face/touch login ID is required for the mobile app
- No two-step login process
Conclusion:
Fusion Markets is a low-cost broker that has so much to offer to its clients. The broker has several strengths, such as low spreads, provision of a demo account, reliable trading platform, copy trading, ultra-fast execution of trades and zero fees for payment methods.
While it might appear that Fusion Markets is the best broker ever, it has certain limitations. Firstly, it lacks quality educational content, 24*7 customer support, a two-step login process and more. But that does not mean Fusion Markets is a terrible choice. In fact, it is a decent broker for traders looking for affordable trading without being worried about excess fees pouring over them.