Fusion Markets

Fusion Markets is an Australian forex and CFD broker that competes mainly on price. It has no minimum deposit on either live account, and its commission account charges $4.50 per lot round turn ($2.25 per side) on spreads quoted from 0.0 pips. It suits frequent forex traders, scalpers and those running automated strategies. It is a weaker fit for traders who want a broad multi-asset range or proprietary research tools. How well your account is protected depends on which Fusion Markets company opens it. The group holds licences in Australia, Cyprus, Vanuatu and Seychelles, and the rules on leverage, compensation and dispute handling differ between those entities.

What Fusion Markets is and who operates it

The parent operating company is FMGP Trading Group Pty Ltd, an Australian company operating since 2009. Fusion Markets presents itself as an ECN, STP and NDD broker. In practice, client orders are routed to external liquidity providers rather than being taken on by a dealing desk that sets its own quotes. In this model the broker earns from commissions and spread mark-ups, not from client losses.

The product range is deliberately narrow: two live account types, the major third-party platforms (MetaTrader 4, MetaTrader 5, cTrader and TradingView), and CFDs on forex, indices, commodities, cryptocurrencies and shares. Fusion Markets does not offer its own proprietary trading platform or a large suite of in-house research tools.

Which Fusion Markets entity holds your account

Fusion Markets operates through four licensed entities. The legal entity named in your client agreement decides which regulator supervises your account, what leverage you can use and what recourse you have if something goes wrong.

• FMGP Trading Group Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC), licence 385620. This is the group’s Tier-1 licence.
• Fusion Markets EU Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC), licence 444/24. CySEC applies EU investment-services rules, including the ESMA-derived limits for retail CFD clients.
• Gleneagle Securities Pty Limited trading as Fusion Markets EN, a registered Vanuatu company (company number 40256) regulated by the Vanuatu Financial Services Commission (VFSC). The “Fusion Markets EN” trading name refers to this Vanuatu entity.
• Fusion Markets International Ltd, regulated by the Financial Services Authority of Seychelles (FSA), licence SD096.

The Vanuatu and Seychelles licences are offshore licences. Offshore regulators generally impose lighter requirements on leverage, capital and client-money handling than ASIC or CySEC do. Clients in countries outside Australia and the EU are often onboarded through these international entities, which is how the broker can offer higher leverage to them. Confirm each licence number on the regulator’s public register before you fund an account. No regulator warnings appear on the official registers.

The international entities have offices at CT House, Office No. 9A, Providence, Mahé, Seychelles (Seychelles entity) and the Govant Building, BP 1276, Port Vila, Vanuatu (Vanuatu entity).

Leverage depends on the entity

Fusion Markets does not have a single leverage figure. Under its international entities, leverage reaches up to 1:500 on some instruments. Under ASIC and CySEC, retail leverage is capped by regulation:

• ASIC has applied a product intervention order to retail CFD clients since 2021. It limits leverage to 30:1 on major currency pairs and sets lower caps for minor pairs, gold, indices, commodities, shares and crypto CFDs (crypto at 2:1).
• CySEC applies the equivalent EU retail limits: 30:1 on major pairs, 20:1 on minor pairs, gold and major indices, 10:1 on other commodities and minor indices, 5:1 on shares and 2:1 on crypto.

Clients who qualify as wholesale or professional clients under those regimes can access higher limits, but they give up some retail protections in exchange. Higher leverage lowers the margin needed to open a position. It does not change the profit or loss per pip, so the same price move eats into your balance faster when more of the balance is committed. If you plan to use the offshore leverage, size positions from your stop-loss distance with a position size calculator rather than from available margin.

Client money and negative balance protection

Fusion Markets holds client funds in segregated accounts with banks, separate from the company’s operating capital. Segregation keeps client money out of the firm’s own funds in day-to-day operations, but it does not insure against a shortfall.

Negative balance protection caps your loss at the account balance, so a gap through your stop cannot leave you owing the broker money. ASIC and CySEC require it for retail clients. Fusion Markets states that since August 2026 its negative balance protection also covers clients of its international entities (VFSC and FSA Seychelles), subject to its Negative Balance Protection Policy. The policy document is published separately for the Seychelles and Vanuatu entities. Read its exclusions before relying on the protection, because offshore NBP rests on the broker’s own policy rather than on a regulatory rule.

Compensation schemes also differ. CySEC-regulated investment firms are members of the Investor Compensation Fund (ICF), which can pay eligible retail clients up to €20,000 if a firm fails. ASIC-regulated accounts have no equivalent standing fund for CFD brokers but are covered by Australia’s client-money rules and the external dispute-resolution scheme. Offshore entities offer neither.

Identity verification

Account opening is fully online. You register, submit identity and proof-of-address documents under the broker’s KYC and anti-money-laundering procedures, and fund the account once approved. Full account functionality, including withdrawals, depends on completed verification. Fusion Markets publishes the documents it accepts on its ID documentation page.

Account types: Zero vs. Classic

Both live accounts have a $0 minimum deposit. They differ only in how you pay for a trade.

Zero Account

The Zero Account uses raw spreads from 0.0 pips plus a commission of $4.50 per lot round turn, which is $2.25 per side. You pay $2.25 per standard lot when you open and another $2.25 per lot when you close. Commission scales with volume, so a smaller trade costs proportionally less.

For example, a 0.50-lot trade costs $1.125 in commission to open and $1.125 to close, $2.25 in total. Commission on indices, commodities, shares or crypto may differ from the forex rate.

The Zero Account suits higher-frequency trading such as scalping, day trading and automated strategies. These styles pay the spread many times, so separating a fixed commission from a near-zero spread makes costs easier to measure.

Classic Account

The Classic Account charges $0 commission, with spreads from 0.9 pips. The broker’s fee is built into the spread, so the platform’s quoted spread is the whole cost of entering and exiting, apart from overnight swaps. It suits traders who want a single number to track, or who trade infrequently enough that the commission structure brings no clear benefit.

Comparing the two accounts

Converting both accounts into dollars per lot shows where the difference lies. The example below is hypothetical and uses EUR/USD, where one pip on a standard lot is worth $10 when the account is in USD. It also assumes each account trades at its minimum advertised spread, which real spreads exceed much of the time.

At the advertised minimums, the Zero Account’s commission works out to the equivalent of 0.45 pips per lot. The Classic Account starts at twice that. The real comparison depends on the typical spread on each account during the hours you trade, which you can see by running both on demo at the same time. “From” spreads are minimums, not averages, and the gap between the accounts can widen or narrow when liquidity thins around news releases or the daily rollover.

Swap-free (Islamic) accounts

Fusion Markets offers swap-free accounts for traders who cannot pay or receive overnight interest for religious reasons. They are available on supported account types. Instead of swaps, administrative fees may apply to positions held over a set period on some instruments.

Demo account

A free demo account runs on virtual funds and is available on the supported platforms, including MT5. It is the practical way to check real spreads on the Classic and Zero pricing, test an Expert Advisor or cBot, and learn order entry before funding a live account. Demo fills do not reproduce live slippage on fast markets, so results from a high-frequency strategy will look better on demo than they will live.

Other costs: swaps, funding and inactivity

Several terms vary by entity or instrument and need confirming before you fund. These include the commission schedule for non-FX CFDs on the Zero Account and any administrative fees on swap-free positions held for several days, especially in gold or indices. They also include the inactivity fee terms for your entity and whether your preferred funding method, such as a stablecoin or a local payment system, is available in the client portal. Ask support in writing by email or chat, so you have a record of the answer.

Overnight swaps. Positions held past the daily rollover incur a swap charge or credit based on the interest differential between the two currencies (or the financing rate for index and commodity CFDs), plus the broker’s mark-up. On a multi-day trade, swaps can cost more than the spread and commission combined, so check the swap rate in the platform’s symbol specification before holding positions overnight.

Deposits and withdrawals. Fusion Markets charges no deposit fee and no withdrawal fees of its own. Banks, card issuers and payment processors can still apply their own charges, including intermediary fees on international wires and currency-conversion spreads when you fund in a currency different from your account’s base currency.

Inactivity. The broker may charge an inactivity fee on accounts that stay dormant for an extended period, with terms varying by entity.

Markets available

Fusion Markets offers its products as CFDs. You trade the price movement without owning the underlying asset, which lets you go short as easily as long.

Forex

Currency pairs are the core offering: majors, minors and a selection of exotics. Scalping, hedging and algorithmic trading are permitted. Exotic pairs carry wider spreads and larger swaps than majors on both accounts.

Indices

Index CFDs cover major stock markets in the US, Europe and Asia. These are leveraged contracts on the index level, and the retail leverage caps under ASIC and CySEC are lower for indices than for major FX pairs.

Commodities

Commodity CFDs include precious metals such as gold and silver and energy products such as oil. Gold is among the more actively traded non-FX instruments in retail CFD accounts generally.

Cryptocurrencies

Crypto CFDs on selected coins give price exposure without a wallet or exchange account. You cannot withdraw or transfer coins, because you never own them. Crypto CFDs carry the lowest leverage caps under Australian and EU retail rules, and weekend price moves can produce large gaps.

Shares

Share CFDs cover selected global companies, long or short, without buying the shares. The share list is narrower than at multi-asset brokers that offer exchange-traded stocks. Before opening an account for a particular stock, confirm that the symbol appears in the platform’s market watch, since no ownership, voting rights or direct ETF holdings come with a CFD.

Compared with larger brokers, the instrument count is limited. Traders who mainly want forex and a handful of index and commodity contracts are unlikely to notice. Those who want thousands of single-stock CFDs, futures or real share ownership will find the range thin.

Trading platforms

Fusion Markets supports MetaTrader 4, MetaTrader 5, cTrader, TradingView and a web platform, including WebTrader for MT4. The broker relies entirely on these established third-party platforms.

MetaTrader 4

MT4 remains the default for many forex traders because of its large library of Expert Advisors, custom indicators and scripts. It runs on desktop, in the browser and on mobile. For automated FX strategies built years ago, MT4 is often the only platform they run on.

MetaTrader 5

MT5 adds more timeframes, more pending order types, an integrated economic calendar, depth of market and a multi-threaded strategy tester that can backtest across several symbols. It is the better choice for traders writing new automated systems or trading across several asset classes in one terminal.

cTrader

cTrader is built around ECN-style trading: depth-of-market display, detachable charts, clear order-history reporting and algorithmic trading in C# through its automation framework (formerly cAlgo). Traders who want to see the liquidity ladder before placing size, or who prefer C# to MQL, tend to choose it.

TradingView

A TradingView connection lets you place and manage trades from TradingView charts using a Fusion Markets account. That suits traders who already do their analysis on TradingView and do not want to switch to MetaTrader.

Mobile and web

All of the supported platforms have mobile apps offering live pricing, charting and full order management, and the web versions let you trade from a browser without installing software. Mobile apps are practical for monitoring and closing positions. Complex automated strategies still need a desktop terminal or a server running continuously.

Copy trading and education

Fusion+ is the broker’s copy trading service. It lets you copy trades from other Fusion Markets clients, let other clients copy your trades, or mirror trades between your own Fusion accounts. Copying another trader replicates their risk as well as their returns. A provider’s past performance statistics do not predict future results, and you remain responsible for the allocation and for stopping the copy if drawdowns exceed what you accept. Copying between your own accounts is useful for traders who run the same strategy on accounts with different base currencies or leverage settings.

Fusion Academy is the broker’s free, self-paced education program. It offers structured courses on trading fundamentals, technical analysis, fundamental analysis and the supported platforms. It covers basics such as reading indicators like the Relative Strength Index and setting up orders.

Deposits and withdrawals

Deposits can be made by bank wire, credit and debit card, and electronic payment methods. Availability depends on your country of residence and on which entity holds your account. With no minimum deposit, you can fund with any amount, but a very small balance limits the position sizes you can run while keeping risk per trade reasonable. Electronic methods are usually credited instantly or within the same business day. Bank wires take longer.

Withdrawal requests can be submitted at any time. Fusion Markets states that 85% of withdrawals are processed in under an hour, though arrival time depends on the payment provider, the receiving bank and your jurisdiction. Withdrawals generally return funds to the original deposit method where possible, which is a standard anti-money-laundering control. If you deposit by card and later want to withdraw profits beyond the deposited amount, the excess usually goes by bank transfer. All withdrawals are subject to verification checks, and incomplete KYC documents are the most direct cause of a withdrawal being held. Make sure your account is fully verified and the payout method is in your own name before you request one.

Customer support

Support is available by live chat, email ([email protected]) and phone (+61 3 8376 2706) and is advertised as running around the clock. It is offered in multiple languages, reflecting the broker’s international client base. The site also has an FAQ and help center covering account opening, verification, funding, platforms and trading rules.

Strengths and trade-offs

Strengths

• No minimum deposit on either the Zero or Classic account.
• Transparent commission on the Zero Account: $4.50 per lot round turn ($2.25 per side) with spreads from 0.0 pips.
• Commission-free option on the Classic Account, with spreads from 0.9 pips.
• Platform choice across MT4, MT5, cTrader, TradingView and web trading.
• No restrictions on trading style: scalping, hedging and automated trading are permitted.
• ASIC and CySEC licences available for clients who can be onboarded through those entities.
• Negative balance protection extended to international-entity clients under the broker’s published policy.
• No broker-side deposit or withdrawal fees, with fast reported withdrawal processing.
• Built-in copy trading through Fusion+ and free education through Fusion Academy.

Trade-offs

• Protection varies by entity. Offshore accounts under VFSC or FSA Seychelles do not carry the regulatory safeguards of the ASIC or CySEC entities, and higher leverage comes with that offshore status.
• US residents and citizens are not accepted on any entity or platform.
• Narrower instrument range than large multi-asset brokers, with share exposure limited to CFDs on selected companies.
• No proprietary platform or in-house research suite, which matters only if you want tools beyond what MetaTrader, cTrader and TradingView provide.
• Possible inactivity fee on dormant accounts, depending on the entity.

How we checked Fusion Markets

We visited fusionmarkets.com on 13 November 2026, connecting from Tallinn, Estonia. We opened the homepage, scrolled to the footer and clicked “Regulations”, which leads to a page headed “Legal”. The footer names three companies. Gleneagle Securities Pty Limited is described as a registered Vanuatu company (company number 40256), Fusion Markets International Ltd as a Seychelles Securities Dealer (license number SD096), and FMGP Trading Group Pty Ltd as the holder of Australian Financial Services License No. 385620. We saw no risk warning on the pages we opened. A live chat window was on offer.

The prices sit on public pages. You can read them without an account. The homepage advertises “$2.25 per side commission, no fees to deposit and no minimum account size.” On the products and accounts page, the Zero Account quotes spreads from 0 pips with a $4.50 commission, and the Classic Account starts at 0.9 pips with zero commissions. On withdrawals, the homepage says “85% of withdrawals are processed in under an hour”. That is a share of requests, not a promise for every one. We did not open an account, deposit or trade, so we cannot say how these figures hold up in live use.

We checked the registers the same day. ASIC’s professional register lists FMGP TRADING GROUP PTY LTD under licence 385620 with status Current, since 05/01/2011. CySEC’s list of Cypriot Investment Firms, dated 04 May 2026, shows Fusion Markets EU Ltd under licence 444/24, licensed 29/04/2024. The FSA Seychelles list of securities dealers includes Fusion Markets International Ltd. That list does not publish licence numbers, so we could not match SD096 itself.

On Trustpilot, read on 13 November 2026, Fusion Markets scored 4.8/5 from 10,682 reviews, and the company had replied to none of the 8 newest. The Wayback Machine’s first capture of the domain is dated 2004-11-18. That may predate the current brand. We did not search the Vanuatu register, so the VFSC claim for Gleneagle Securities Pty Limited rests on the site’s own wording for now.

Who Fusion Markets may suit

Fusion Markets fits traders whose costs come mainly from spread and commission: frequent forex traders, scalpers and those running automated strategies on MT4, MT5 or cTrader. For them, the Zero Account’s fixed per-side commission makes trading costs predictable and easy to compare. The $0 minimum deposit and the demo account also lower the cost of trying the broker before committing more capital.

It is a weaker fit for traders who want a broad multi-asset menu or proprietary research and analysis tools. It is also a weaker fit for anyone outside Australia and the EU who wants Tier-1 or Tier-2 protection but would be onboarded through an offshore entity.