IC Markets vs Fusion Markets (2026)

IC Markets vs Fusion Markets verdict

Fusion Markets wins on cost across the board: A$4.50 round turn against A$9.00, and all-in EUR/USD of 0.32 pips against 0.74 in our 5 to 9 October 2026 capture. IC Markets wins on overall standing, 88 against 86, on a licence held under one brand since 2009 against 2011. I would send cost-focused traders to Fusion Markets and traders wanting range and standing to IC Markets.

The choice between these two rests on a handful of measurable differences, because the brokers match on platforms and protections. Every cost below is in Australian dollars, and every spread comes from a single capture run by Noam Korbl on our CFB SpreadLogger, one read per second across the full trading week from 5 to 9 October 2026. Both brokers were logged from live accounts in the same window, so what you are comparing is genuinely like for like.

IC Markets vs Fusion Markets regulation

Fusion Markets trades under FMGP Trading Group Pty Ltd, which holds ASIC AFSL 385620, current since 5 January 2011. The licensee was named Global Prime Pty Limited until 13 August 2023, and the same licence covers the Global Prime brand, which is worth knowing when you check the register. IC Markets trades through International Capital Markets Pty. Ltd. under AFSL 335692, current since 2 July 2009. You can verify either licence on the ASIC register. Your protections are identical at both: the 30:1 cap on major forex pairs, mandatory negative balance protection, the 50% margin close-out and AFCA membership.

The IC Markets name is shared with offshore entities regulated in Cyprus, Seychelles and the Bahamas, and I recommend none of them; deal with the ASIC entity on www.icmarkets.com.au. Our Trust sub-scores, 8 of 10 for IC Markets and 6 of 10 for Fusion Markets, are our editorial judgement on register status, licence age, AFCA membership and desk-assessed parent backing, and the register was read on 16 July 2026.

IC Markets vs Fusion Markets spreads and commission

Commission is where the gap starts, and it is large. Fusion Markets charges A$2.25 per side, A$4.50 round turn per standard lot on its Zero account, exactly half of IC Markets’ A$4.50 per side and A$9.00 round turn on the Raw Spread account for MetaTrader. The measured spreads widen the gap. Our 5 to 9 October 2026 capture put Fusion Markets’ Zero EUR/USD at 0.01 pips raw, against 0.11 pips for IC Markets, and the eight-pair basket came in at 0.11 pips against 0.29, first of the 12 raw accounts we logged that week.

All-in, where I would make the call, Fusion Markets wins both measures: EUR/USD at 0.32 pips against 0.74, and the eight-pair average at 0.48 against 1.03. For you, that means roughly half the cost per round turn on the majors.

Check the pairs you actually trade against our lowest spread forex brokers figures, because these are averages over one week, not a quote for your account.

IC Markets vs Fusion Markets platforms and markets

The platform line-up is identical: MT4, MT5, cTrader and TradingView at both, with IC Markets running TradingView through its cTrader Raw Spread account and Fusion Markets offering it directly. Neither broker has a proprietary platform, so your choice here comes down to markets. I see that parity as good news, because it means the decision rests entirely on what you trade and what it costs.

IC Markets lists 1,700+ share CFDs, 61 forex pairs, 25 indices, 24 commodities, 21 crypto CFDs, 9 bonds and 4 futures on its Australian home page as at 27 September 2026. Fusion Markets lists 110+ US share CFDs only, alongside 90+ forex pairs, indices, commodities and crypto CFDs, per its home page of 27 September 2026. If you want ASX exposure or broad share CFD trading, Fusion Markets cannot serve you and IC Markets can, and that difference is big enough to outweigh the cost gap on its own. For share CFD traders I would take IC Markets here without hesitating, while a forex-only trader loses nothing on platforms at Fusion Markets.

IC Markets vs Fusion Markets accounts, funding and fees

Fusion Markets sets an A$0 minimum deposit and charges no inactivity fee, and its funding menu includes PayID, bank transfer, Visa, Mastercard and PayPal, per its portal deposit menu as at 28 August 2026. IC Markets’ September 2026 PDS and Account Terms set no minimum deposit either, though its website states US$200 for full access to all markets, and it charges A$20 a month after 12 idle months. The Australian deposit menu at IC Markets covers eight free methods but no PayID. For a casual trader who funds with PayID and lets an account sit idle, my vote goes to Fusion Markets on this section alone.

Both brokers offer swap-free accounts. Fusion Markets runs a dedicated Islamic account, and IC Markets offers a swap-free option chosen at application that charges an Overnight Position Holding Fee on overnight contracts. A Fusion Pro account also exists, but that is for wholesale clients only, so I would treat it as out of reach for a retail trader and judge the page on the Zero and Classic accounts.

Which should you choose, IC Markets or Fusion Markets?

IC Markets is my choice here if standing and market range matter more to you than the last fraction of a pip. It ranks second of 33 with a score of 88 against Fusion Markets’ fourth at 86, its licence has run under one brand since 2009, and its 1,700+ share CFDs dwarf Fusion Markets’ 110+ US shares. You pay for that in cost: all-in EUR/USD of 0.74 pips against 0.32 in our 5 to 9 October 2026 capture, plus an inactivity fee Fusion Markets does not charge.

Fusion Markets is the one I would back if you trade forex and want a lower running cost than IC Markets. Its Zero account at A$4.50 round turn and 0.01 pips raw on EUR/USD also posted an eight-pair raw average of 0.11 pips, first of the 12 raw accounts in our 5 to 9 October 2026 capture, and with A$0 minimum deposit, PayID funding and no inactivity fee, the account is cheap to hold as well as to trade. See where both sit in our best forex brokers in Australia ranking, and if FP Markets is your other finalist, our IC Markets vs FP Markets page covers that pair.