Fusion Markets Review Australia 2026

Fusion Markets quick facts

Trading costs and fees

Zero account commission and spread

If you trade forex actively, the Zero account is the one to open. Spreads on EUR/USD start from 0.0 pips and averaged 0.04 pips in our May to June 2026 testing; across the full 8-pair basket, the Zero account averaged 0.36 pips over the same window. Commission is AUD 4.50 round-turn per standard lot (AUD 2.25 per side per 100k notional). Convert that to pips at AUD/USD 0.65 and you’re paying roughly 0.04 + 0.29 = 0.33 pips all-in on EUR/USD. The Zero account also runs no dealing desk, which earns Fusion fifth place in our best ECN brokers in Australia list.

That figure is the lowest measured total cost on EUR/USD across the 29 ASIC-regulated brokers we cover.

The Fusion, IC Markets and Pepperstone figures use our May to June 2026 measured EUR/USD averages plus each broker’s commission converted at AUD/USD 0.65. On the eight-pair raw average the Zero account placed equal seventh of 16 in our lowest-spread broker rankings.

The AUD 4.50 round-turn is the headline. Trade 50 standard lots a month and the commission gap saves you roughly AUD 125 against Pepperstone and AUD 225 against IC Markets. At 200 lots a month, those figures become AUD 500 and AUD 900. No reviewed broker charges less per lot, which is why Fusion sits first in our lowest-commission rankings.

Classic (no-commission) spreads

The Classic account is spread-only. EUR/USD typically comes in at 0.8 to 1.0 pips with no commission. It suits infrequent traders who’d rather not track a separate commission line.

Other fees AU traders should check

• Overnight swap rates apply on positions held past 5 PM New York and vary with trade direction.
• Currency conversion applies if you trade an instrument denominated outside your account base currency.
• Withdrawals are $0 on most methods, including PayID, BPAY, PayPal and bank transfer.
• There’s no inactivity fee.
• Deposits are $0 on cards and most local rails. Crypto deposits incur the network fee but no Fusion-side charge.

Trading platforms

Fusion Markets supports the standard mainstream stack without a proprietary platform, and that fits the positioning: cheap execution on platforms you already know.

cTrader

cTrader on Fusion is the platform we’d recommend for active forex traders who want level 2 depth-of-book pricing, advanced order types and a cleaner execution model than MetaTrader. cTrader Copy is available for clients who want to follow other strategies.

MetaTrader 5

Pick MT5 if you want broader asset class support (indices, stocks, futures natively) and access to modern expert advisors. Fusion’s MT5 is connected to the Zero account.

MetaTrader 4

Still the standard for legacy EAs. If you have an existing MT4 strategy you want to keep running, Fusion supports it.

TradingView

TradingView on Fusion is a full trading platform with live order execution rather than a charting-only integration. Orders are routed through the cTrader backend, and commission follows the cTrader method.

Copy and social trading

For Australian clients, copy trading runs through cTrader Copy, with cAlgo and MQL5 Signals also supported on MT4 and MT5. DupliTrade and Fusion+ Copy Trading are only offered through Fusion’s offshore Vanuatu entity and are not available to Australian clients.

Mobile apps

MT4, MT5 and cTrader all have full-featured mobile apps. Biometric login is supported on iOS and Android for cTrader and MT5.

Trust and safety

Trust score: 6/10.

ASIC regulation and global licences

FMGP Trading Group Pty Ltd, trading as Fusion Markets, holds AFSL 385620 with the Australian Securities and Investments Commission. The AFSL has been continuously held since the broker’s founding in 2017. Fusion Markets is a trading name of FMGP Trading Group Pty Ltd (ABN 74 146 086 017), AFSL 385620, the same Australian licensee as Global Prime.

Common ownership disclosure. Global Prime and Fusion Markets are both trading names of FMGP Trading Group Pty Ltd under the same AFSL (385620). They are run as separate broker brands with different platforms and pricing models, but the licensee is the same legal entity. We rank them independently because the trading experience differs, and we disclose the shared licence on both review pages.

Fusion also holds a VFSC licence (Vanuatu Financial Services Commission, Tier 5), used only for offshore wholesale clients seeking higher leverage outside ASIC retail caps.

The Vanuatu entity matters only if you choose to onboard offshore. We don’t recommend this path for retail traders, and traders who qualify as Professional Clients can access higher leverage onshore through Fusion Pro under ASIC instead.

Client money and negative balance protection

Fusion Markets holds retail client money in segregated accounts at an Approved Australian Bank, separate from the company’s own funds. ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. If a dispute with the broker goes wrong, AFCA can hear claims up to $1,263,000 and award compensation up to $631,500. The Compensation Scheme of Last Resort sits behind that with a $150,000 cap, but it excludes CFD trading losses, so it protects you against unpaid awards for misconduct, not against losing trades.

One carve-out matters before you chase leverage. The retail client money protections do not apply to clients approved for Fusion Pro, and that is the trade-off the wholesale tier asks for in exchange for the higher caps. The account section below sets out what Fusion Pro changes.

Two things worth reading next: our safest broker rankings, which score this broker against the field on protection, and negative balance protection explained, which sets out what the rule does and does not cover.

History and ownership

Fusion Markets was founded in 2017 by Phil Horner. Phil was previously a senior executive at Pepperstone, and the Fusion offering is positioned, in effect, as “Pepperstone but cheaper.” That isn’t marketing copy, it’s the actual proposition.

Australian context that matters:

• Founded in Melbourne by an Australian, ASIC-regulated since launch
• Member of AFCA for retail dispute resolution
• Segregated client funds at an Approved Australian Bank
• Smaller in scale than Pepperstone or IC Markets, but consistently competitive in our cost testing

Public reviews

Public review scores are strong. Trustpilot is rated above 4.5/5 with several thousand reviews globally. Reviewers keep mentioning the same things: low cost, quick withdrawal processing, helpful support. The recurring gripes are the smaller research library and occasional spread widening on exotic pairs during off-peak hours.

What other review sites say

Fusion Markets' iOS app rates 4.69 out of 5 from 16 ratings on the Australian App Store (July 2026), listed as Fusion Markets cTrader.

TradingView users rate Fusion Markets 4.6 out of 5 from 3.2K reviews (July 2026).

App Store AU

4.69

16 ratingsJuly 2026

TradingView

4.6

3.2K reviews27.2K Traders via TradingViewJuly 2026View on TradingView

Account types and minimum deposit

Account options for AU clients

Fusion Markets runs two retail accounts on a $0 minimum deposit: Zero, with raw spreads plus commission, and Classic, with the cost rolled into the spread. An Islamic swap free account sits on top of either pricing model for traders who need a Sharia compliant account. Fusion Pro, the wholesale tier, follows below.

The demo account runs for 30 days, can be extended once a live account is funded, and features in our demo trading accounts in Australia comparison.

Opening a Fusion Markets account: step by step

Minimum deposit

Fusion Markets’ minimum deposit is $0, on the Zero account and the Classic account alike. There is no formal account minimum, although some payment methods carry a minimum transaction of around $10. That puts Fusion level with Pepperstone at the entry point and ahead of IC Markets, which asks for $200 before you can place a trade. Most active traders fund AUD 200 to 1,000 anyway, because position sizing on the Zero account needs the margin.

Fusion Pro (Professional Account)

Traders who qualify as Professional Clients under ASIC can apply for Fusion Pro, which sits onshore under the same AFSL 385620. Leverage rises to 500:1 on forex, gold, other commodities and energies, 100:1 on indices, 20:1 on share CFDs and 10:1 on crypto CFDs. The catch is serious: retail client money protections don’t apply to Professional Clients. You don’t need to go offshore for higher leverage, though; Fusion Pro provides it under ASIC.

Funding and withdrawals

Deposit methods (AU clients)

The crypto deposit option is unusual at this end of the market. Most ASIC brokers don’t offer it.

Withdrawals

$0 fee on most withdrawal methods. Withdrawals must use the same source as deposits where possible. PayID and PayPal are the fastest, typically same-day.

Account opening

Account opening is fully online and AUSTRAC-compliant. Most AU applications are approved within an hour. Our test team rated Fusion’s onboarding 12/15.

Product range

Fusion’s product range is solid for forex traders but narrower than the multi-asset CFD specialists. That is the trade the pricing buys you. Set against every CFD market compared, the list here runs to seven classes:

Indices cover the ASX 200 alongside the S&P 500, NASDAQ, FTSE 100 and DAX at the 20:1 retail cap. Commodities run from gold and silver through WTI, Brent and natural gas, with the 10:1 cap on everything except gold. Bonds are thin here, so rates traders should look at the broader-range brokers in the compares table below.

Share CFDs

Fusion’s share CFD range is materially narrower than CMC’s 10,000 plus, and there is no ASX share investing at all. The cons name both. Treat this broker as a forex specialist that carries shares, not a shares venue. For how the class works and who leads it, see our guide to share CFDs at AU brokers.

Crypto CFDs

Crypto CFDs cover BTC, ETH, XRP and the other majors at ASIC’s 2:1 retail cap. These are contracts on the price, not coins you own or can withdraw to a wallet, which is a separate thing from Fusion accepting BTC, USDT and ETH as a deposit rail. Our guide to trading crypto as CFDs sets out how the class compares across the AU field.

Leverage for AU traders

Fusion applies the ASIC retail caps on both the Zero and Classic accounts. The Fusion Pro wholesale tier lifts them for clients who pass the eligibility tests, and the account section above sets out what that costs you in protections.

ASIC caps retail CFD leverage at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. The caps come from a product intervention order that ASIC has extended to 23 May 2027, so they apply at every ASIC broker, not just Fusion Markets. Fusion Markets offers higher leverage to wholesale clients who pass the eligibility tests: up to 500:1 on forex, gold, other commodities and energies, 100:1 on indices, 20:1 on share CFDs and 10:1 on crypto CFDs, all through Fusion Pro.

ASIC requires every CFD issuer to close out a retail client’s positions once account equity falls below 50 percent of the total initial margin on all open positions. The rule is set by the product intervention order and applies to Fusion Markets the same way it applies to every ASIC-licensed CFD issuer. Positions cannot be netted off against each other to reduce that figure, and a gapping market can close a position below the 50 percent level.

If you are weighing that trade-off, read leverage in CFD trading first, then our comparison of high-leverage broker options.

Customer service

Phone, live chat and email. Hours: 24/5 (closed weekends Sydney time). Average live chat response in our testing: under 90 seconds during AU business hours.

Research and education

The research stack covers the basics and not much more:

• Daily and weekly market analysis posts
• Economic calendar
• Beginner forex and CFD guides
• Webinar series (less frequent than Pepperstone Insights or CMC’s analyst programme)
• Trading Central integration on certain account tiers

If research and education are central to how you trade, CMC, IG and Pepperstone are stronger.

How Fusion Markets compares to alternatives

The closest head-to-head is covered in Pepperstone vs Fusion Markets head to head.

No broker wins on every axis. The table below names who we would pick for specific priorities, and the full field sits in our best forex brokers in Australia guide.

Should you open an account with Fusion Markets?

Open a Fusion Markets account if cost is your first filter. The Zero account’s commission is among the lowest in the raw cohort and the $0 minimum keeps the entry friction at nil. Skip it if you want deep share CFD coverage or a big research desk; CMC Markets covers the first and Pepperstone the second better than Fusion does. The demo account mirrors Zero account pricing, so test it before funding.

Open a Fusion Markets demo → (affiliate link, see our advertiser disclosure)