Fusion Markets review
- Minimum Opening Deposit
- $0
- Minimum Trade Size
- 0.01 on FX
0.1 on Indices - Commission
- Commissions start at USD 2.25 per standard lot and 0.45c for a mini-lot
Summary
Enjoy low-cost spreads and low commissions when you trade currency pairs using this trusted online forex trading platform.Â
Details
Product details
| Commission | Commissions start at USD 2.25 per standard lot and 0.45c for a mini-lot |
| Minimum opening balance | $0 |
| Minimum Trade Size | 0.01 on FX 0.1 on Indices |
| Platforms | MetaTrader 4 |
Important: This broker offers CFDs which are a leveraged product. Using leverage involves greater risk than using cash resources only and your responsibility to repay the borrowed money (and any interest) remains the same even if the value of the underlying asset declines.Fusion Markets works primarily with retail investors in Australia but has clients from around the world. Just keep in mind that if you’re trading on this platform from Canada, you’ll use the Fusion Markets X version.
The main difference with this version is you’ll pay a higher commission on your trades, and you may pay a higher mark-up on your foreign exchange spread as well. Even with this bump in prices, Fusion Markets still offers some of the lowest commissions available to Canadians.
30-second take
- Think about this online platform if you want low fees and you would prefer direct control of your portfolio.
- Choose something else if you’re not very tech-savvy or you want to trade with a Canadian-based company.
- You’ll be charged a mark-up on the spread of each trade or a commission for trades, depending on what type of account you have.
What types of accounts does Fusion Markets offer?
Fusion Markets offers two types of accounts to Canadian clients. Both accounts include access to the industry-leading MetaTrader 4 platform and mobile app. Some of the features of these accounts are outlined below:
- Classic account. Classic accounts let you buy and sell currencies quickly and easily, with no commissions. You’ll just need to pay a mark-up on the spread of any currency pair you’re dealing with. There’s no minimum deposit amount on this account, though it’s suggested you start with around $1,500.
- Zero account. Zero accounts are for regular traders who are a bit more experienced in the forex market. This type of account doesn’t charge a mark-up on the foreign exchange spread. Commissions start at USD 2.25 per standard lot and 0.45c for a mini-lot.
What investments does Fusion Markets offer?
You can choose from a number of different investment options with Fusion Markets. You’ll usually use this platform for FX trading, but you can also trade cryptocurrencies and contracts for difference (CFDs).
- Foreign exchange. Trade currency pairs to take advantage of small fluctuations in global exchange rates.
- Cryptocurrencies. Delve into the world of cryptocurrencies (like Bitcoin and Ripple) to profit from more drastic price fluctuations.
- Contracts for difference. Speculate on price movements for a number of CFDs without having to invest in actual assets.
What types of CFD trades can I make?
- Equity indices. Speculate on the rise and fall of company stocks and their derivatives.
- Commodities. Anticipate price movements for consumer goods like coffee, sugar, wheat and cocoa.
- Energy. Predict the exchange of energy products like crude oil and natural gas.
- Precious metals. Trade products such as gold, silver, zinc, copper, platinum and other precious metals.
Who is Fusion Markets best for?
Fusion Markets‘ software is a good fit for beginners and seasoned forex traders. It offers a user-friendly interface through its MetaTrader 4 software. You can also use your account type to determine whether you pay for the service through a mark-up on the FX rate or a commission per trade.
You’ll need to be relatively tech-savvy to use the Fusion Markets‘s platform since all trades are carried out online. That said, MetaTrader 4 is standard software and is easy to learn how to use if you’re willing to put a bit of leg work in right out of the gate.
How easy is Fusion Markets to use?
Fusion Markets lets you carry out trades through its MetaTrader 4 platform. This platform is used by many brokers and is an industry-leading application. Trades are easy to set up and you can put stop losses in place to make sure that your money is protected if your losses reach a certain level. You can also automate your trades through this platform by inputting some simple scripts into the software.
You can sign up for a Classic or Zero account quickly and easily through the Fusion Markets website. From there, you’ll just need to prove your identity and upload funds into your wallet. You can also simulate trades without investing any money by downloading a demo account.
What research does Fusion Markets provide?
Fusion Markets offers a limited number of research options through its online trading platform. It lacks trading insights and forex news, but includes the following features:
- Market analysis. Make more informed decisions about when to buy and sell your investments with real-time market data.
- Charting tools. Access a number of advanced charting tools with technical indicators and line studies to help accurately project your trades.
Pricing and fees
Fusion Markets offers different price structures based on what type of account you have.
- Classic accounts. You’ll get a decent spread on any currency pairs you trade and you won’t have to pay any commission when you make a trade. You can access the spread you’ll pay through the Fusion Markets software.
- Zero accounts. Commissions start at USD 2.25 per standard lot and 0.45c for a mini-lot. This can add up if you make hundreds of trades, but it’s a low commission by industry standards.
Is Fusion Markets safe?
Fusion Markets is considered safe because it is regulated by a top-tier Australian regulator. That said, it’s a relatively new company (founded in 2017) and it only began making trades in 2019. It also gets a black mark because it’s not regulated by Canadian authorities like the Investment Industry Regulatory Organization of Canada (IIROC) or the Canadian Investor Protection Fund (CIPF).
How does Fusion Markets keep my money safe?
Fusion Markets protects the money you put into your account using a number of different security features on all of its software and mobile applications. It also holds your money in a separate account from its business accounts, in compliance with Australian regulations.
Customer reviews and complaints
Fusion Markets gets glowing reviews from customers and independent review platforms alike. Customers seem happy with the level of customer service and the low commission fees and spread mark-ups. They also acknowledge that the MetaTrader 4 platform is simple to use and it’s easy to get answers about technical issues.
It’s difficult to find negative customer reviews for Fusion Markets online. That said, independent review sites indicate that the low level of research and educational tools available through this broker is an issue. Some also raise issues with the lack of negative balance protection and the fact that Fusion Markets isn’t regulated in Canada.
Pros and cons
How do I sign up?
The only eligibility criteria you’ll need to meet is you have to be 18 years old to set up an account. If you meet this requirement, you can sign up by following the steps below:
- Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
- Review and submit your application.
- Get verified and load funds into your Fusion Markets account to start trading.
- Set up a Fusion Markets demo account if you want to get used to the software before you dive into the deep end.
How do I contact Fusion Markets support?
You can contact Fusion Markets by emailing its customer service team at help@fusionmarkets.com or by filling out an online form on its site. The company doesn’t list a dedicated phone number you can call to ask questions or lodge complaints. It also has no physical locations in Canada, so you won’t be able to visit in person.
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Bottom line
Fusion Markets offers low-cost accounts and dedicated customer service. It lets you buy and sell currencies quickly and easily with its industry-leading MetaTrader 4 software. Learn more about how this broker works and sign up for your free account today to get started.
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