Our take on Fusion Markets after testing
Fusion Markets occupies a distinctive niche: an ASIC-regulated ECN broker that competes primarily on cost. The Zero account commission is $2.25 per side — $4.50 round-turn per standard lot — which is genuinely the lowest commission rate among credible ASIC-regulated brokers. For traders running high monthly volumes, that delta against IC Markets ($7 round-turn) or Pepperstone ($7 round-turn) compounds meaningfully.
Founded in 2017 in Melbourne, Fusion Markets is newer than the established Australian brokers but operates with the same regulatory standing. The broker offers MT4, MT5, cTrader, and DupliTrade — solid platform coverage though without TradingView integration or FIX API access. Spreads on the Zero account average 0.0-0.2 pips on EUR/USD, in line with the premium ECN tier.
The trade-offs are real. No FCA regulation, no proprietary platform, less brand recognition than IC Markets or Pepperstone, and a more austere educational and onboarding experience. For experienced traders specifically optimising for commission costs at scale, Fusion Markets is the strongest discount option. For traders valuing brand depth, platform breadth, or premium support, the established alternatives are worth the extra cost.
Key trading conditions
The numbers that matter most when picking Fusion Markets.
What we like, what we don't
Honest assessment after evaluating against industry benchmarks.
- $4.50 round-turn commission on Zero account: Materially below industry standard $6-$7 — one of the lowest ECN costs in retail forex
- ASIC Tier-1 regulation since launch: Full Australian regulatory protection with FSCS-equivalent client fund segregation
- $0 minimum deposit: Genuinely accessible entry — combined with ASIC regulation, an unusual pairing
- Four major platforms supported: MT4, MT5, cTrader, and native TradingView integration — exceptional platform diversity
- No deposit, withdrawal, or inactivity fees: Transparent fee structure with no hidden costs
- Fusion+ copy trading: Integrated copy trading without third-party platform requirements
- No negative balance protection for non-ASIC clients: Significant gap — international clients routed offshore don't have this critical retail safeguard
- Limited instrument universe (250+): Narrower than competitors like RoboForex (12,000+) or MultiBank (20,000+) for multi-asset access
- Not available in US or UK: Restricted from these jurisdictions — no FCA-regulated entity
- Education and research relatively thin: Adequate basics but lacks depth versus dedicated education brokers
Who Fusion Markets is for — and who it isn't
Brokers aren't one-size-fits-all. Here's where Fusion Markets shines and where it falls short.
- Active ECN tradersRaw spread accounts with commission pricing become more cost-effective at higher volumes, suited to traders who already understand execution-cost trade-offs.
- cTrader platform usersNative depth-of-market, level II pricing, and advanced order types not available on MT4/MT5.
- Copy/social tradersBuilt-in tools to follow proven traders without manually executing each trade.
- Algorithmic and high-frequency tradersEA support, fast execution, and trading-friendly policies suit automated strategies and short-hold approaches.
- Complete beginnersLimited educational content means this broker assumes you already understand trading basics. Brokers like XTB or eToro offer friendlier onboarding.
- UK traders wanting FSCS protectionNo FCA licence means no Financial Services Compensation Scheme coverage. Consider FCA-regulated alternatives if account size matters.
- Traders prioritising lowest costs above allDiscount brokers in the same category may offer marginally cheaper commission structures for very high-volume traders.
Fusion Markets at a glance
The essentials, scannable in seconds.
Everything you need to know
In-depth analysis across regulation, costs, platforms, accounts, funding, and support.
Regulation & Client Protection
Fusion Markets operates under three regulated entities. Fusion Markets Pty Ltd is the Australian entity, regulated by ASIC under Australian Financial Services Licence (AFSL) 385620 since the company's incorporation. ASIC is classified as a Tier-1 regulator and provides the strongest level of oversight available — mandatory segregated client funds at top-tier Australian banks, strict conduct rules, regular audits, and adherence to ASIC's leverage caps (1:30 on major forex pairs for retail clients). ASIC retail clients also receive negative balance protection.
Fusion Markets International Ltd is the Vanuatu entity, regulated by VFSC (Company Number 40256). Fusion Markets (Seychelles) Ltd holds FSA Seychelles licence SD096. Both offshore entities provide higher leverage (up to 1:500) than ASIC allows, which appeals to international traders accepting offshore regulation as a tradeoff. Crucially, negative balance protection is NOT provided to clients of the VFSC and FSA entities — only ASIC clients receive this protection. This is a meaningful gap and one of the broker's specific regulatory concerns.
Client funds are held in segregated accounts across all entities. ASIC regulation has been maintained continuously since 2017 with no major incidents. For Australian retail clients, Fusion Markets provides genuinely Tier-1 regulated discount-broker pricing — a rare combination. For international clients routed to the offshore entities, the regulatory protection is materially weaker, and the absence of negative balance protection specifically warrants careful evaluation given the high-leverage offering. The broker would benefit from pursuing additional Tier-1 licences (FCA, CySEC) and extending negative balance protection to all retail clients.
Regulatory structure
Fusion Markets operates under 3 regulatory licences:
- ASIC — Tier-1 regulator (highest jurisdiction)
- VFSC — Tier-3 regulator (offshore)
- FSA-SC — Tier-3 regulator (offshore)
Notable: no FCA licence
Fusion Markets does not hold an FCA (UK) licence. UK traders therefore have no FSCS protection — which would cover up to £85,000 per client at FCA-regulated firms. For UK-based traders with substantial accounts, this is a meaningful consideration.
Track record
Fusion Markets has operated since 2017 (9+ years). Editorial assessment: high-confidence on regulatory standing.
Trading Costs & Spreads
Fusion Markets offers two main account types with $0 minimum deposit on both — a notable feature versus competitors requiring $100-$200 minimums. The Classic account is the commission-free option with floating spreads from 0.9 pips on EUR/USD during liquid hours. This is competitive within the spread-only category but not the absolute cheapest. The standout is the Zero account.
The Zero account provides raw spreads from 0.0 pips on EUR/USD with $4.50 round-turn commission per lot — materially below the industry-standard $6-$7 round-turn at peer ECN brokers (IC Markets, Pepperstone Razor, ThinkZero). On a 1-lot EUR/USD trade with 0.05 pip raw spread, the all-in cost is approximately $5.50 versus $7-$8 at peers — a meaningful saving for active traders. There are no deposit, withdrawal, or inactivity fees from Fusion's side. Swap-free Islamic accounts are available on request. The cost transparency is one of the broker's genuine differentiators.
Cost structure
Fusion Markets cost structure depends on which account type you choose. The trade-off is generally between spread-only pricing (simpler, slightly higher implicit cost) and raw-spread plus commission (cheaper at higher volumes, requires per-trade math).
ECN / Raw Spread account
Raw spreads from market liquidity providers (typically 0.0-0.3 pips on EUR/USD) plus a per-side commission. Becomes more cost-effective above moderate monthly volume. Specific commission rates published on the broker site.
Other costs to know about
Overnight swap rates apply to positions held past daily rollover, based on currency-pair interest rate differentials.
Most reputable brokers don't charge deposit fees, withdrawal fees, or inactivity fees on active accounts. Check the funding terms for your specific entity at Fusion Markets.
Trading Platforms & Technology
Fusion Markets supports an unusually diverse platform stack for this broker tier: MetaTrader 4, MetaTrader 5, cTrader, native TradingView integration, and a browser-based WebTrader. cTrader and TradingView are notable — most ECN-tier brokers offer only MetaTrader, but Fusion provides genuine choice without trade-offs. cTrader appeals to active traders who prefer its native ECN ladder and depth-of-market visibility. TradingView integration lets traders execute directly from charts using TradingView's industry-leading technical analysis tools.
Note that cTrader and TradingView are available primarily on the Zero account; the Classic account supports MT4, MT5, and WebTrader. The Fusion+ copy trading system is integrated natively, allowing traders to mirror other strategy providers without third-party platform requirements. Free VPS is available for active traders meeting minimum volume thresholds. No proprietary trading platform beyond Fusion+ — the focus is on supporting industry-standard platforms exceptionally well rather than building bespoke alternatives.
5-platform support
Fusion Markets supports 5 platforms — choice affects available order types and execution model.
MetaTrader 4
The industry standard for forex retail. Full EA support, custom indicators, automated trading. Mature ecosystem of community-built tools.
MetaTrader 5
Newer MetaQuotes platform with additional asset classes, more timeframes, and improved backtesting. Recommended for newer accounts unless you have legacy MT4 EAs.
cTrader
Spotware's platform — preferred by traders who want native depth-of-market, level II pricing, and advanced order types. Modern interface, faster than MT4.
TradingView
Web-based charting now integrated for live trading. Particularly popular for traders who already use TradingView for analysis.
Account type options
Fusion Markets offers 3 live account types, all with a $0 minimum where applicable:
- Zero — See broker site for details
- Classic — See broker site for details
- Islamic (Swap-Free) — Available for clients meeting religious requirements. No swap charges.
Demo accounts
Demo accounts are available free of charge, typically with virtual balance and the option to reset on request. Useful for testing strategies before committing capital.
Deposit methods
E-wallet deposits are typically instant; card payments take 1-2 hours; bank wires 1-3 business days.
- Credit/debit cards (Visa, MasterCard)
- Bank wire transfer
- PayPal
- Skrill
- Neteller
- Cryptocurrency (Bitcoin, USDT, others)
Withdrawal speed and cost
Withdrawals are typically processed within 1 business day. Arrival times depend on method: e-wallets same day, cards 3-5 days, wire 1-3 days.
The same-method rule typically applies — withdrawals must go to the same source as deposits where possible. This is standard AML compliance, not broker-specific.
Standard support channels
Fusion Markets provides live chat, email, and phone support. Response times are typical for the industry: chat within a few minutes, email 12-24 hours, phone during regional business hours.
Coverage is reasonable but not exceptional — sufficient for routine queries, may require persistence for complex issues.
Fusion Markets vs alternatives
How does it stack up against similar competitors?
Fusion Markets FAQ
Quick answers to the questions traders ask most.
Is Fusion Markets regulated?
What is the minimum deposit at Fusion Markets?
What are typical Fusion Markets spreads and commissions?
Does Fusion Markets offer negative balance protection?
Is Fusion Markets available in the United States or UK?
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