If you are a retail trader looking for a low-cost broker with an excellent selection of forex pairs, then Fusion Markets is certainly worth taking a look at. In this broker review, we discuss all the crucial factors you need to consider to decide whether you should trade with Fusion Markets. This ASIC-licensed broker receives predominantly positive feedback on the Trustpilot platform, achieving an aggregate rating of 4.8 stars based on more than 4,800 consumer reviews. Five-star reviews account for 86% of all consumer reviews of Fusion Markets compared to 3% for 1-star scores.
| Overall Summary Fusion Markets | |
|---|---|
| Year Founded | 2017 (began serving customers in 2019) |
| Minimum Deposit | $0 |
| Tradable Instruments | Forex, Energies, Precious Metals, Equity Indices, Commodities, US Stocks, Cryptocurrencies |
| Open an Account | How to Open an Account at Fusion Markets |
| Trading Costs | Spreads, Fees, and Commissions at Fusion Markets |
Key Pros and Cons
If you are looking for a quick snapshot of Fusion Markets, here are a few key pros and cons of trading with this broker.
Key Pros
- Extremely low trading costs and non-trading fees
- Zero-spread accounts are available
- A no dealing desk (NDD) broker
- Leverage up to 1:500 outside Australia
- An excellent selection of 90+ forex pairs
- Great customer support
Key Cons
- A limited selection of tradable instruments overall
- A limited range of research and learning materials
- Negative balance protection for ASIC customers only
- Fewer stock CFDs compared to most other brokers
Company Information
Fusion Markets is an Australian forex broker that was founded in 2017 when it was granted its first licence in Australia. The company started started doing business with customers in June 2019, with its origins linked to a team of experienced professionals with over five decades of combined experience. Fusion Markets is the trading name of Gleneagle Asset Management, founded in 2010.
The CEO of Fusion Markets, Phil Horner, started the company to provide clients with:
- A lower-cost structure for trading
- A friendly customer service
- Cutting-edge technology to improve their trading experience
The company has its headquarters based in Melbourne, Australia. It has a postal address in Vanuatu and is also looking to expand by opening more offices around the world. It operates another office in Mahe, Seychelles. Here are the three regulated Fusion Markets entities with their respective registered office locations.
- Gleneagle Securities Pty Limited, licensed and regulated by the Vanuatu Financial Services Commission (FSC) under license number 40256, with registered offices at Govant Building, BP 1276, Port Vila, Vanuatu.
- Fusion Markets International Ltd, authorized by the Financial Services Authority of Seychelles (FSA) under license number SD096, with registered offices located at CT House, Office 4C, Providence, Mahe.
- FMGP Trading Group Pty Ltd, overseen by the Australian Securities and Investments Commission (ASIC) under license number 385620, with offices located at 1 627 Chapel Street, South Yarra, Victoria 3141, Australia.
Fusion Markets may be a relatively young company having only had a trading licence for several years, but with a commitment to low trading costs, it is already making a huge headway in a crowded market.
Why Trade with Fusion Markets?
Here is a quick list of the important features that we like about Fusion Markets.
| Aspect | What We Like |
|---|---|
| Regulation | Regulation: Australia (ASIC), Vanuatu (VFSC), Seychelles (FSA) |
| Trading | A strong selection of Forex pairs (over 90) |
| Pricing/costs | Extremely low trading costs with ZERO spread accounts available |
| Platforms | MT4, MT5, TradingView, cTrader, DupliTrade |
| No Minimum Account Size | Helpful for beginner traders to get started |
| Customer Support | Offers 24/7 customer support via live chat, email, and telephone |
Regulation
The general rule with regulation is that the more licences a broker holds, the better. Fusion Markets is currently regulated in three jurisdictions.
A license from the Australian Securities and Investments Commission (ASIC) is a serious advantage as ASIC is considered a top-level regulator. This means that Fusion Markets must uphold the highest regulatory standards to maintain this tier-1 licence. In turn, this gives traders an added level of confidence and peace of mind.
Its second regulatory licence was issued by the Vanuatu Financial Services Commission (VFSC). Although the VFSC is not considered a top-tier regulator, its license is also important as it enables non-Australian clients of Fusion Markets to access much higher leverage.
The broker also holds a license from the Financial Services Authority of the Seychelles, the FSA.
Here is a breakdown of the regulators that oversee Fusion Markets:
| Region | Entity | Authority | Year | |
|---|---|---|---|---|
| Australia | FMGP Trading Group Pty Ltd | Australian Securities and Investments Commission (ASIC) | 2019 (reissued in 2024) | |
| Vanuatu | Gleneagle Securities Pty Limited | Vanuatu Financial Services Commission (VFSC) | 2017 | |
| Seychelles | Fusion Markets International Ltd | Financial Services Authority Seychelles (FSA) | 2019 | |
It is worth noting that Fusion Markets is a relatively new company and therefore, has a limited regulatory track record. However, it has managed to attract many traders due to its commitment to transparency, competitive trading conditions, and regulatory compliance.
Some clients are prohibited from trading with Fusion Markets. Traders from the United States, New Zealand, Spain, Ontario, Russia, Iraq, Ukraine, and Japan cannot register live accounts with this broker. Furthermore, not having a licence from other jurisdictions, such as the FCA in the UK or CySEC in the EU, means that there is no investor protection in the event of the broker going bust. The FSA and VFSC-licensed divisions of Fusion Markets also do not provide negative balance protection to international customers.
It will be interesting to see how Fusion Markets continues to grow in the coming years, as obtaining additional regulatory licenses could help attract more clients and provide greater consumer protection.