Fusion Markets Review 2023
Fusion Markets is an online forex broker headquartered in Australia. Although the company is relatively a newcomer, it plans to make waves with its industry-leading low commissions, tight spreads, and excellent client support. Moreover, its copy trading feature allows clients facing time constraints or lack of trading experience to come on board and generate passive income. However, the company neither offer a proprietary trading desk nor does it provide educational resources. This piece reviews the broker in detail.
Regulation and Security
Fusion Markets holds multiple regulations and complies with all AML directives. The broker’s regulatory authorities include;
- Australia: Australian Securities and Investment Commission (ASIC)
- Vanuatu: Vanuatu Financial Services Commission (VFSC).
- Seychelles: Financial Services Authority of Seychelles (FSA)
The company employs advanced security protocols, such as SSL web encryption and two-step authentication, to protect clients’ confidential information from possible intrusion. However, it doesn’t offer indemnity insurance if the company becomes liquidated.
Negative Balance Protection
There is currently no negative balance protection available on Fusion Markets. It means that customers risk losing more than they initially invested.
Is Fusion Markets available worldwide?
Fusion Markets is a brand name of Gleneagle Asset Management Limited (GAML). The company accepts clients from all over the world except for fewer jurisdictions, including but not limited to Iran, Iraq, Somalia, Afghanistan, Palestine, Russia, North Korea, and the United States. Click here to find their services in respective regions.
While a proprietary trading platform isn’t available, the broker offers MT4 trading platforms across all channels, including web, desktop, and mobile. Let’s quickly go through some features accessible through each medium.
Online Trading: Fusion Markets’ MT4 WebTrader will likely appeal to customers who prefer to trade via browser instead of installing software on their PC. The web-based platform is highly customizable. While clients can easily adjust the tabs’ placement and size, they might find the design a bit outdated. Also, traders might find it difficult to find specific features since several of the platform’s functionality appears to be hidden under different tabs. Except for simple order types, more complex ones like “one cancels the other” aren’t available. You can only choose between market, limit, or stop orders. Should you wish to track your performance, the “History” tab lets you see past transactions, including commissions paid and net profit or loss.
Desktop trading: The most widely used trading platform in the world, MT4 needs no introduction. Irrespective of the trading experience, clients always appreciate high marks for its robust charting, streamlined tools, flexible timeframes, and extensive personalization options. Moreover, it is a preferred choice of many investors due to its automated trading bots, also known as Expert Advisors. In addition, Fusion Markets provides several complementary tools, including a Multi Account Manager for experienced traders and a Virtual Private Server (VPS) to prevent network concerns from ever stopping trades in progress.
Considering the need for mobility, the broker also offers a mobile-based trading platform for on-the-go clients. Traders can download the respective versions of MetaTrader 4 for both iOS and Android. Fusion Markets’ mobile trading platform excels in both form and function. The search features are pretty good. Clients can either type a product’s name into the search bar or peruse the several tabs representing product categories to locate their prefered financial instrument. Notably, the mobile version allows you to set price alerts and notifications. You can click the “Tools” menu, followed by “Options,” to add your email address and mobile MetaQuotes ID to receive alerts on your device.
There is more to Fusion Market’s trading platforms; you can head to their official website to experience them.
Fusion Markets offer two types of accounts, including Classic and Zero.
Classic: Newbies and those who value ease of use will likely prefer signing up for this account. Traders might find spreads a little higher since the broker automatically incorporates commissions into them, doing away with the need to calculate commission in advance of every trade. Classic Account holders will not be subject to any additional fees.
Zero: This account is best for seasoned traders familiar with calculating commissions. The Zero accounts come with the raw spreads charging policy. While the company keeps its spread cost pretty low, clients must pay commissions for each trade initiated using this account.
Demo account: Other than live trading accounts, clients can practice their trading skills using a virtually funded demo account. This account allows newbies and professionals to learn and apply various risk and money management strategies without risking their real funds.
Note: The broker also offers swap-free accounts to facilitate clients who follow shariah practices. Although Islamic accounts are not available as a stand-alone product, clients can request the company for a changeover.
Fusion Market’s signup process is pretty simple compared to other brokerage firms in the industry. You only need to provide an email and choose a password to access the company’s dashboard. However, the broker asks you to complete the KYC process before allowing you to start trading. Here are the steps you can expect to follow while opening an account with the broker.
1. Visit the broker’s official website and click the “create an account button.”
2. Enter an email and select a password.
3. Provide details, such as name, phone number, and residential address.
4. Choose your preferred trading platform, account’s base currency and account type. For example, Zero or Classic, etc.
5. Complete the KYC process and verify your identity.
Note: You can use a copy of your ID card, Passport, or Driving license for identity confirmation. A copy of your bank statement or utility bill will work fine to verify your address.
The broker has kept its trading dashboard simple, making it easy for clients to navigate. Everything is accessible using the side navigation panel. For instance, clients can use the payment tab to make deposits and withdrawals, while different trading tools are featured under the news tab. Technical analysis and market insights are accessible via the trading ideas tab. Trading calculators and economic calendar tabs come next, allowing clients to figure out the expected trading cost and outcome besides keeping track of major economic events. Last but not least, the profile tab lets you configure your account settings and modify your login credentials. Should you wish to contact customer support directly from your dashboard, a “Contact Us” button is right there.
Deposit and Withdrawals
Fusion Markets used to support several payment alternatives, including Visa and Mastercards, Neteller, Skrill, Bank transfers, and other local payment methods. However, the broker has recently added more payment options to the supported list to facilitate country-specific transactions, such as Dragon Pay, Jeton, Interac and eTransfers.
Your initial deposit can be whatever feels right to you. However, some of the broker’s payment processors have minimum transfer requirements of $10. The broker does not accept deposits from third parties. Thus you will need to be sure that the name on the account matches your payment source.
The company releases funds to the original funding method. There is also no minimum to make a withdrawal, albeit specific withdrawal methods have higher minimums. All payments are instantaneous except for the wire transfers, which take between 3-5 business days.
According to Fusion Markets, their goal is to provide investors with more options so that they may find the right fit for their portfolios, and they do this by providing access to a wide range of global markets at competitive prices. For example, clients can trade 250+ tradeable assets in total, including 100+ share CFDs as well as indices and 90+ currency pairs, including majors, minors and exotic. Crude Oil, Brent Oil and Natural gas are available under the energies category, while coffee, sugar, wheat, cocoa and a few more make up the commodity listings. Clients who prefer trading precious metals have Gold, Silver, Platinum, Copper, ad Zinc as their possible options.
Commissions and Fees
Fusion Markets keeps its pricing structure pretty low as compared to other brokers. Both trading and non-trading cost appear well below the average industry standards. For instance, a standard lot of forex or precious metals would cost you just $4.50.
Moreover, the company neither charges any fee on deposits and withdrawals nor applies an inactivity fee on dormant accounts. However, clients funding their accounts in currencies other than their base currency will incur currency conversion charges. Further, swap charges are also applicable on positions held overnight. Click here to find more about commissions and fees based on your region.
Besides keeping them competitive, the broker employs a floating spread charging policy. The average spread on major currency pairs like EURUSD remains 0.02 pips. Similarly, the average spread for trading precious metals like Gold (XAUUSD) stays around 0.095 pips.
Leverage entails borrowing funds from your broker to maximize your market exposure. Fusion is committed to delivering a customizable service. Therefore the company lets traders set their own leverage levels. Although the maximum leverage available is 1:500, clients in countries having strict regulatory oversight can use maximum leverage of up to 1:30.
Remember, leveraged trading carries increased risk exposure. Besides increasing your profit earning potential, it magnifies the risk of loss. Notably, higher leverage levels can wipe off your account within no time during extreme market volatility.
Analysis and Education
Unfortunately, the broker doesn’t offer educational resources to help clients learn and grow. While the broker has enough research tools to help traders, it should also have provided some educational resources to teach new traders the ropes of forex and stock trading.
For instance, the company offers various research tools like Analyst Views, Market Buzz, etc. These research tools help clients to have a quick look over market insights. Similarly, educational resources would have been a great help to clients to familiarize themselves thoroughly with the currency and commodity trading markets before placing any trades. Since the broker doesn’t have educational content available, traders need to look for it elsewhere.
Except for a handful of research tools, a demo account and a FAQ section to address clients’ concerns, there is nothing much positive to quote about the broker’s educational facility.
Customers need to know that their broker will be there for them anytime they need it. Fusion markets seem well aware of this fact. That’s why it keeps customer support staff on their toes to help clients round the clock. While a FAQ section helps clients look for general queries independently, a live chat feature is also available to raise your concerns and seek real-time resolution. The company is also accessible via email and telephone. You can communicate with the broker on multiple social media platforms, such as Facebook, Twitter, Instagram, and Youtube.
- Email: email@example.com
- Tele: +61 3 8376 2706
Reputation amongst Traders
Fusion Markets is one of the most reputable brokers we’ve ever reviewed. The company holds a rating of 4.7 out of 5 stars from over 700 reviews. More than 83% of clients have voted in favour of the company. According to them, the broker is an excellent choice for trading forex and CFDs. Most clients have appraised the company for its user-friendly trading platforms, transparent pricing structure and quick customer support. However, a few clients also looked unhappy with the broker for various reasons, such as lag in trade executions and a slow withdrawal process. In short, the broker holds an excellent reputation among traders.
Fusion Markets has won several awards for its service of excellence over the years, such as;
- Best Discount Broker Awards 2021 by BrokerChooser
- Best MT4 Broker Awards 2021 by BrokerChooser
- Lowest Commissions Forex Broker Awards 2021 by CompareForexBrokers.com
Can beginners trade with Fusion Markets?
As far as low deposit requirements and cheap pricing structure are concerned, beginners can trade with Fusion Markets. However, the broker hasn’t paid heed to provide clients with educational resources. Therefore, beginners are less likely to learn new trading skills at Fusion Markets. However, a practice account is available to help them improve their confidence.
Fusion Markets is a competitive choice for clients looking for budgeted trading solutions and a safe trading environment. The company’s dedication to reducing trading costs is praiseworthy, and its achievement is undeniable. Further, the broker offers various financial instruments for some of the best prices around. However, the firms lack of educational resources, such as an events calendar, glossary section, a blog, and so on, is its lone major drawback.