Lowest Cost Forex Broker

Fusion Markets

Fusion Markets is a top-tiered trading site, founded in November 2017, that is geared mostly toward the Australian market. It relies on the popular MetaTrader 4 platform and offers traders a great choice from more than 120 financial products.

The website was launched by industry veterans with a combined experience of over fifty years in Forex trading. Their mission was to create a trading service that adheres to several simple principles – low pricing, support for different experience levels, and a seamless trading experience via high-end software.

This is Fusion Markets’ formula for success and it appears to work. Australian traders prefer this platform because here they can benefit from commission rates that are around 36% cheaper than those of the competition. This cost-effectiveness is further enhanced by the absence of fees for credit/debit card deposits.

Fusion Markets is a great platform for Forex and commodities trading. There are no restrictions on the minimum account size while leverage is flexible with a maximum of 500:1. The platform is available in English and Thai. Its business practices are fully aligned with the requirements of the local financial regulator, ASIC.

Regulations

regulations
Fusion Markets is a highly secure platform for Australian traders, which makes sense considering it falls under the oversight of their local Australian Securities and Investments Commission (ASIC).

The role of ASIC is to protect local consumers and investors by enforcing adequate financial services laws. Its scope and authority rely on the Securities and Investments Commission Act of 2001.

The money of Fusion Markets’ customers is stored in segregated Westpac accounts to protect them in case of insolvency. For clarification, Westpac is the oldest bank on Australian soil and one of the country’s four major banking organizations.

The site is owned and operated by the Melbourne-based company Gleneagle Asset Management Pty Limited. Fusion Markets’ founder and chief executive is Phil Horner, an expert with years-long experience in brokerage and trading.

Fusion Markets does not offer its trading services in some countries because of local restrictions. You will be unable to use the platform if you are based in any of the following jurisdictions – Burma, North Korea, Congo, Japan, Lebanon, the USA, Sudan, Syria, New Zealand, Zimbabwe, and Liberia.

Trading Instruments

Fusion Markets offers a variety of financial instruments you can trade with, including Forex trading, cryptocurrencies, equity indices, futures, and hard commodities like precious metals and crude oil. The website is also about to soon add the option to trade soft commodities like cocoa, wheat, sugar, and coffee. The trading terminal implements the third-party MetaTrader 4 software platform, which you can download for desktop or mobile. You have a choice from the English and Thai languages. Let’s take a closer look at the trading instruments on offer.

Forex Trading

Traders who register with the Fusion Markets network face a significant advantage because of the lower costs for this instrument. They have a choice from more than 90 currency pairs. The spreads are tight which is yet another benefit of trading here.

As for the leverage, it reaches up to 500:1. Forex trading is available around the clock during business days. The average spreads for currency trading range from 0.12 to 182.01, depending on the currency pairs you deal with.

The platform supports major currency pairs like AUD/USD, EUR/USD, USD/CAD, GBP/USD, and USD/JPY. However, exotic pairs are also readily available for trade including NZD/SGD, NOK/SEK, and CHF/PLN. The minimum spread starts at zero. The minimum leverage is set at 20:1. As for the minimum trade size, it stands at $0.10 per pip.

Forex traders are allowed to have up to 200 open positions at any given time. The reason for this restriction is to ensure the Fusion Markets platform performs at optimal levels at all times. The platform also supports hedging, which enables you to buy and sell a given currency pair at the same time, for example, the USD/CAD pair both in short and long position.

Energy CFDs Trading

Energy trading at Fusion Markets is a great alternative for those looking for thin and competitive margins, without trade commissions. You can make both long and short investments with this financial instrument but bear in mind these markets are quite volatile.

Some of the options for energy trading include crude oil and natural gas. The average spread* for such hard commodities ranges from 0.15 for Brent Oil to 3.10 for West Texas Intermediate oil. The maximum leverage for CFD trading with such commodities is 100:1 at Fusion Markets.

The maximum lot size is generally 100 lots but the brokerage company recommends traders not to exceed 50 lots to avoid unneeded slippage. For the uninitiated, CFDs (Contract for Difference) is a common form of trading with derivatives. This allows traders to speculate on the rise and drop of the prices of various financial instruments including hard commodities like oil and natural gas.

*The listed average spreads are valid for Zero accounts.

Equity Indices CFDs

Traders with more experience can diversify their portfolios with the addition of CFDs for equity indices. Fusion Markets offers a nice range of CFDs for all major indices. This option comes with the usual benefits like tight spreads, flexible leverage, and long/short positions.

The choice is vast, with some of the options for index traders being Euro Stoxx 50, Hang Seng, Nasdaq, Dow Jones, S&P 500, the Footsie, the Nikkei Stock Average, and the DAX, among others. Average spreads for equity indices trading start at 0.41 and can reach up to 12.77.

Leverage for this trading instrument is restricted to 100:1 at Fusion Markets, with a minimum trade size of 1.0.

Precious Metals Trading

Those who register with Fusion Markets accounts are also granted the option to trade with a decent variety of precious metals, including silver, gold, palladium, and platinum. Trading with base metals like zinc, aluminum, nickel, lead, and copper is also possible via this platform.

There are all kinds of asset classes you can choose from. For example, you can trade silver against the EUR, Gold versus USD, and palladium versus USD. Minimum spreads start at zero, with averages for the different precious and base metals ranging from 0.10 to 42.38.

Metals allow for a minimum trade size of 0.01. In the meantime, leverages range from 20:1 to 500:1 for this type of trading instrument.

Hard commodities are a great way to protect yourself against inflation because of their intrinsic value. However, certain risks are also associated with this instrument because the prices are not fixed. They can drop at any time, even more so during periods of economic uncertainty.

Cryptocurrencies Trading

At Fusion Markets, you can extend your portfolio by trading five different pairs of cryptocurrencies. Quotes are offered for BHC/USD, BTC/USD, ETH/USD, LTC/USD, and XRP/USD. What’s great about trading with these instruments is that there are no commissions and re-quotes.

The maximum leverage for cryptocurrencies is 5:1 at Fusion Markets. As for the spreads, they vary between different cryptocurrencies. Average spreads range between 0.10 and 1,400.00. It is important to take note of the fact trading with cryptocurrencies is not a suitable option for every trader, especially those who lack experience.

It is associated with a substantial risk of loss due to the great fluctuation in cryptocurrency values. Unversed traders may end up losing more than their initial investment.

Trading Platforms

The trading terminal implements the third-party MetaTrader 4 software platform, which you can download for desktop or mobile. You have a choice from the English and Thai languages. Let’s take a closer look at the trading instruments on offer.

Platforms

PC / MAC

Smartphones

Tablets

MetaTrader 4
Meta Trader Mobile
Web Trader

MetaQuotes WebTrader

If you are reluctant to install the MT4 software on your desktop computer or laptop, you can easily skip this step thanks to the availability of the WebTrader cloud-based version. This allows you to access the platform directly in the browser of your desktop device. You can connect either to a demo or a live account.

The in-browser version is available in more than forty languages. The interface is just as user-friendly as that of the downloadable version. Users can create different types of trading charts including line charts, candlesticks, and pies.

The different analytical objects allow you to review trends and strategies. You can choose from regression channels, the Andrews Pitchfork, equidistant and standard deviation channels. These are especially useful when you are on the lookout for sharp trading opportunities.

MetaTrader 4 for iOS and Android

Fusion Markets caters to on-the-go traders with the availability of two native MT4 applications, one for Android and one for iPhones/iPads (iOS 9.0 or later). Both apps can be downloaded for free, either from the official Play Store or from the App Store, depending on what operating system you use.

The apps give you more flexibility and freedom as you can trade on the fly regardless of where you are. Mobile users can conveniently control their accounts, trade, and explore different markets with the help of the apps’ indicators and graphical objects.

Rookie traders will benefit from different execution types, detailed history, and real-time quotes for Forex trading. The apps are suitable for advanced traders as well, offering them customizable charts and free trading news.

Here you can choose from three types of charts, Japanese candlesticks, bars, and lines. The charts are highly interactive, offering you the zoom and scroll options. There are nine different timeframes to pick from, M1, M5, M15, M30, H1, H4, D1, W1, and MN.

Payment Methods

payment-methods
Fusion Markets strives to provide its traders with the best service possible by offering them a choice from several trusted funding methods. You can fund your live account with debit and credit cards by Mastercard and Visa.

This is a great option if you are looking to avoid unnecessary extra charges. But there is yet another benefit of using cards – the deposits you make will be instantly posted into your Fusion Markets account.

The company plans to add more deposit options in the near future but for the time being, e-wallets remain unavailable. You can, however, resort to bank transfers if cards are not an option for you.

Keep in mind this is the less time-efficient alternative because you might have to wait up to 5 business days until the deposit goes through. The exact timeframes depend on the country you are based in. You can see the bank wire details in the FAQ section of Fusion Markets.

The company likes to give its customers flexibility by lifting the restrictions on minimum deposits. You can fund your account with whatever sum you like although Fusion Markets’ customers generally deposit around $1,500 on average. The same goes for maximum deposits although the amount of $25,000 is recommended for cards to prevent rejections of your transactions.

Withdrawals are possible with card and bank wire transfers. No restrictions apply to them, either. The payments are processed within the same day of the request but require 1 to 5 business days for cards and 2 to 5 business days for bank wire transfers.

One thing to beware of is the margin call. When you request a withdrawal, make sure you have sufficient remaining balance for your open positions. If you are left with no usable margin, your open positions will be stopped out to prevent a negative balance.

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Account Types

account-types
At Fusion Markets, clients can set up two different types of accounts. A free demo version is available to trading novices while those with previous experience can create live Zero or Classic accounts.

In terms of currencies, accounts can be registered not only in the commonly used USD, GBP, and EUR but also in SGD, JPY, and AUD. At the moment of writing, Fusion Markets does not support the registration of Swap-Free (Islamic) accounts but we are confident this will be added as an option in the future.

The Demo Account

Creating a demo account at Fusion Markets is the perfect way to hone your trading skills without losing any of your capital. Setting up a demo account comes at no cost and is incredibly easy as all you have to do is follow the prompts.

You simply need to click on “Create new trading account” and enter your email and password. Then, you must mark the demo option, and choose your account type (either Zero or Classic).

You should also pick your preferred currency and leverage, having a choice from 100:1, 200:1, 300:1, 400:1, and 500:1. Some personal information will be needed as well, including your date of birth, address, and telephone number.

There is also the option to create several demo accounts, for example, a Classic one and one in Zero mode. You add virtual funds to your demo balance to trade with.

Keep in mind that you need to verify your identity and address before you can start trading with your temporary demo account. For the purpose, you must upload color copies of a government-issued document of identification, such as your ID, driver’s licenses or passport.

Proof of residence is also needed. You can send a utility or phone bill, a birth certificate or a bank statement. Everything should be clear and visible.

The Classic Account

You can start trading with Fusion Markets with real money right away by creating a live Classic account. The procedure is the same as that for the demo version. Classic accounts are more suitable for those who are just starting out.

Simplicity is one major benefit here since there is no need to calculate any commissions before you open a trading position. In fact, there are no commissions with Classic accounts at all since they are built into the spreads.

Basically, what you see is what you get. Speaking of spreads, those start at as little as 0.8 pips. You can easily calculate the average spreads by adding the spread listed for a given trade to 0.8, for example, 0.14 + 0.8, or 0.94.

The Zero Account

The second option for those looking to trade live is setting up a Zero Account. Another cool thing here is that you can change the status of your account from Classic to Zero whenever you like. As becomes apparent by the name, the spreads for these accounts have no markups. They start at zero pips but you will have to pay a commission of $4.50 for your trades.

Since this is the more premium account version, there are no requirements on minimum deposits and trading volume. Zero accounts are considered more suitable for customers who have previous experience with trading as well as a proper understanding of commission sizing. We would recommend this variant to more active traders.

Support

Fusion Markets users can get in touch with the support agents via live chat. This is the quickest and easiest way to receive assistance. You need to enter your name, email address, and the number of your live account provided that you have one.

The service is very expedient and competent. The agents on standby can handle all sorts of issues and inquiries, so do not hesitate to ask. The chat button is pinned to the lower right corner of the website no matter which section you browse. This makes it easily accessible at all times.

In case you do not require immediate assistance, you can resort to the ready-made form. You will find it in the Contact Us section. Again, you need to provide some details like your name, phone number, and email. Type in your message in the field and they will contact you back via email.

Of course, there is the option to email them directly at help@fusionmarkets.com. Calling on the phone is also possible. Just dial +61 3 8376 2706.

Conclusion

conclusion
There is much to recommend about Fusion Markets, particularly if you are looking for a cost-effective trading experience in a highly efficient and reliable environment. The platform is home to an array of trading instruments and charges the lowest commissions Australians can hope to find. This is your spot if you insist on flexibility, tight spreads, and high functionality.

Are you ready to trade?