Fusion Markets Forex Broker Review | Superchoice Forex
In the box
Cost of the box
Opening account speed
Deposit & Withdrawal
Speed of execution
Total Score: 9 / 12
Fusion Markets Broker Review Summary
Hi Forex enthusiasts and welcome to another SuperChoice forex broker review! Today I will be reviewing an Australian broker called Fusion Markets. I hadn’t heard of Fusion Markets until I started my research. Upon checking out their website, I was given an impression of professionalism as the UX design is quite clean. The first takeaway from the website was their commission rate of $2.25 per side/per lot. As you may know by now, my opinion with brokers is that you typically get what you pay for, and low commissions typically compensate for poorer trading conditions and weaknesses in other areas of the brokerage. As always at SuperChoice, we like to challenge the key marketing points of each broker we review. Fusion Market’s key selling points being their low trading costs, a ‘white glove specialist’ to support you, and no minimum account size. Fusion Markets key selling points aren’t all that big a claim to fame and it seems to me that that rely heavily on the low commission selling point.
Before we dive into our Fusion Markets broker review, let’s cover a bit about them. I could not find any information on their website about how long they have been operating. Their ASF licence number 226199 didn’t show up any results on my ASFL search, so I’m a bit dubious about their operating history… Hmm, seems a bit dodgy to me!
Alright ladies and gentlemen, let’s jump right into our full Fusion Markets broker review and see what they have to offer.
Unboxing – Opening an account with Fusion Markets
So for starters, Fusion Markets only offers AUD as a base currency and only accepts Australian clients… Talk about exclusive! As with all Australian brokerages, you have to complete a client qualification questionnaire to open an account. All in all, the process is quick, taking me 5 minutes max, and Fusion verified my account within the hour. I did open my account at midday Sydney time, so I’m not sure that it would be verified as quickly if I opened it outside of Australian office hours. Fusion Markets leverage traders up to 500:1 – the standard in Australia. Fusion have no opening deposit requirement on their accounts and no minimum deposit, making their accounts super accessible. Nice work Fusion!
Score = 3/3
With no minimum deposit, leverage up to 500:1 and same day verification, Fusion Markets has cleaned up all 3 points for the unboxing section of our review! Let’s see how they fare going forward.
What’s in the box? Fusion Markets Broker Review
A key selling point for Fusion Markets is their ‘White Glove Specialist’ support. Upon opening my live account, I was messaged by my newly appointed specialist introducing herself and ensuring I was comfortable with my new account. A very nice personal touch, and without any delay. I was also given access to a Fusion Markets telegram chat that updated traders with technical market events. I found these technical analysis updates of quite good quality, and they could certainly be useful, especially to newer traders.
Fusion Markets also offers 24/5 live chat, so I put this to the test! Upon messaging their live chat, I was immediately paired with a customer agent who was able to answer my detailed questions about index margin requirements, swaps and dividends – both very quickly and in great detail. Credit where it is due, Fusion Markets live chat is absolutely textbook, being instantaneous access to a customer rep with great knowledge!
The first drawback I found with Fusion was that they only offered the MetaTrader 4 platform. Whilst MT4 is a respectable platform, offering only 1 platform choice is extremely limiting, and as you may have already read my personal preference is to trade on cTrader. Most brokers offer at the very least MT4 AND MT5. Come on Fusion! There is definitely room for improvement here.
Aside from their telegram chat, Fusion offers NO educational content for traders – another area that Fusion Markets can improve in! Typically, brokers offer some videos/courses/webinars to assist their client’s education in Forex trading.
Now, let’s talk deposits and withdrawals. As stated previously, Fusion has no minimum deposit, however they only offer AUD as a base currency, so the options are also minimal. Despite this, Fusion do have a number of fee-free methods, offering funding, offering debit/credit card, Poli, Skrill, Neteller, and bank transfer. They also offer reimbursement for any fees incurred through bank wire on deposits over $200. It would be nice to see some other account base currencies offered here, however they have done a decent job to cater for their Australian clientele.
In terms of trading tools and support, Fusion falls behind the industry again – not offering any MT4 tools package, as brokers typically offer. Fusion Markets do offer traders the ability to link to social trading platforms MyFXBook and Duplitrade, while also providing traders a customizable economic calendar, as well as a lot size calculator. Fusion has plenty of room for improvement here; they could provide MT4 tools, trader analytics, autochartist software or something similar.
On a positive note, Fusion have a solid product portfolio, boasting CFD’s across over 90 currency pairs (more than Pepperstone or IC Markets ), 3 energy/oil products, metals, commodities, Index’s and cryptocurrencies. The upside to Fusion only offering one platform is that all their products can be traded from the one place. A competitive set of products, well done Fusion!
Score = 3/6
With a range of funding methods available, a solid product offering and personalized and efficient customer service, Fusion Markets has earned 3 points here. I was actually both surprised and impressed with their customer service and range of products. Unfortunately, I was equally disappointed in their lack of trading resources/tools and platform choice, nevertheless the telegram chat analysis is a promising start in the right direction. Now let’s get into the gritty; how much does trading with Fusion markets cost?
Cost of the box – Spreads, Fees and Commissions
As mentioned at the start of the review, Fusion Markets offer commissions of $2.25 a side per lot or $4.5 round trip per lot. Well, how does this stack up against the industry? Industry leaders Pepperstone and IC Markets have a commission of $3.5 per side, more than a $1 per side greater than Fusion Markets. In fact, Fusion have the lowest commission rates available on the Australian Forex CFD Market! You might be wondering if they inflate their spreads to compensate for their commissions… I was wondering the exact same thing, however I was again impressed with Fusion here. While I was monitoring spreads I saw EURUSD and USDJPY both trade with a 0.0 spread a number of times, even the AUDUSD spread was consistently low, hitting 0.2 frequently. Interestingly enough, when I first opened an account in 2019 the spreads were noticeably wider, so they have clearly worked on improving their spread conditions for traders! Awesome job Fusion! Not just Extremely low commissions but very low spreads as well.
Fusion Markets also scoop up the third point in this section for having no fees, such as inactivity fees, annual fees or deposit withdrawal fees!
Honestly, I’m really quite surprised at how low cost a broker they are, as usually brokers discount one area and make it back in another area but Fusion has aggressively competitive pricing across the board!
Score = 3/3
Some great pricing across their spreads and commissions, combined with their lack of non-trading fees makes Fusion Markets an extremely low cost broker and awards all three points for the ‘cost of the box’ section.
My experience trading forex with Fusion Market
Overall, I think Fusion Markets is a competitive broker with solid trading conditions, distinctive customer support, a solid range of products and extremely low costs. As I’ve found with most lower cost brokerages, they lack the glitz and glamour that the industry powerhouses offer, and Fusion Markets is no exception. They are seriously in need of trading education tools, market analysis, analytic data, and platform choices. Brokerages such as Fusion Markets are great for scalpers and traders looking to minimize their trading costs, however it begs the question of personal preference. I for one, I am happy paying a bit more in commissions to trade equally as good market conditions on a platform of my choosing, and receiving analytical data on my trading performance. Fusion Markets offers a great choice for traders that are self sufficient, comfortable with MT4, and looking to minimize their costs.
Total Score = 9/12