Fusion Markets

Fusion Markets

4
Score: Good

Three Things to Know:

> 36% cheaper than other brokers, on average
> No fees on credit/debit card deposits
> Standard MT4 trading platform offered

About Fusion Markets

Founded in 2017 and finally opening its doors to traders in June 2019, Fusion Markets is a multi-platform trading operator established by veterans of the Australian forex industry.

After growing frustrated with the conditions at other trading sites, they decided to set up their own firm with three explicit aims: to “radically” lower the price that traders have to pay, provide accessible support for traders of all experience levels, and use cutting-edge technology to help deliver a seamless trading experience.

Do they deliver on those principles? In this Fusion Markets review, we will find out.

Right off the bat, we can report that the commissions charged at Fusion Markets are, on average, 36% lower than competing brokers, so on that note, we can say that this is an affordable trading operator for people of all budgets.

In addition, there are no fees on deposits made by credit or debit card, and all traders can access personalised support to help navigate the brand’s MT4 and WebTrader platforms, regardless of account activity.

But is this an operator who ticks all of the boxes we look for when recommending a new service provider? Read the rest of this Fusion Markets review to get the lowdown.

Products and Trade Offers

There are more than 120 products and instruments that can be traded courtesy of the Fusion Markets stock trading platform, with the bulk of those being the 90+ currency pairs that they provide in their Forex offering. What is unique here is that traders can choose their own levels of leverage up to 1:500, with low spreads and access to the market 24/5.

There are energy assets to be traded, too, including crude oil, Brent oil and natural gas, alongside precious metals such as gold, silver and platinum.

You can choose from a range of CFDs on major indices, giving you access to some of the world’s premier equity markets. With Fusion Markets, you can also enter the cryptocurrency market with pairs including Bitcoin, Ethereum, Ripple and Dash.

At the time of writing, we do know that Fusion were offering some account types: Classic and ZERO and also some account types for social trading like Myfxbook AutoTrade, DupliTrade etc.

There is no major difference between the Classic and ZERO accounts. However, with the classic option, traders should note that the commission charged is included in the spread. For the ZERO account, spreads start from 0.0 pips with commissions stable at $4.50 USD (depending on the instrument traded).

The total cost of trading with a ZERO account is around 0.5 pips, while the Classic – with all fees and charges accounted for – is around 0.9 pips.

The good news is that traders can switch between the two account types with ease, simply by sending a request to the customer support team.

Sadly, Fusion does not offer swap-free or Islamic accounts at this moment, although their website indicates that they are reviewing this policy in an ongoing fashion.

You can also access a Multi Account Manager (MAM) service where required. This enables you to control the trading activity of multiple sources, which is useful if you manage the investments of friends or family or have your own client base, for example.

All the usual trading functions are available to scale but note that MAM accounts are subject to a 0.1-pip execution fee across the product range.

Across the board, you can trade via desktop, smartphone or tablet, and the only downside to all this is the absence of the upgraded MT5 platform, which many of their competitors are now offering.

On the plus side, Fusion Markets customers can take advantage of a discounted VPS offer, which keeps you active in the market without disruption.

  • More than 90 currency pairs available
  • A variety of CFDs, precious metals and energy assets
  • Crypto trading available
  • No support for MT5
  • Alerts and notifications not available on web platform

Commissions and Fee Charges

One of the areas in which Fusion Markets are strongest is in their charging of industry-low fees and commissions.

Their commission charged can be as low as $4.50 AUD, which they point out is amongst the lowest of any advertised Australian broker.

Fees and spreads are typically low across the spectrum of assets and indices, with no charge on deposits and withdrawals from inside Australia on credit and debit card payments, and no charges for account inactivity.

They don’t implement a fixed minimum deposit, either, which enables traders of all budgets to get a foot onto the ladder. Fusion has specified that there is no maximum deposit amount, although it is possible that traders using their Visa and MasterCard may find deposits of $25,000 AUD or more rejected until you have formally authorised them with your provider.

No fees are charged on Visa and MasterCard transactions, and the same is true for bank transfers from inside Australia. For international traders, a charge of roughly $20 to 30 USD can be expected.

There are no conditions on withdrawals, so you can take your funds whenever you choose to and in any quantity you wish. Please note that Fusion operates the “closed loop” facility that most sites of this nature implement. This basically means that you can only withdraw to your original payment method unless you have made a deposit using a new card or bank account since that time.

Fusion Markets are fully transparent about their fees and commissions, and if you head to the FAQ section on their site, you can find all the information you need listed there.

What Others Say

The review team at Daytrading.com have been almost universally positive about the Fusion Markets stock trading offer, writing that “they provide world-class technology and friendly support” and that their multi-device approach leads to a “top-quality 21st-century trading experience.”

They praised the brand’s commitment to low fees – “their commitment to cutting costs for traders is admirable – and inarguably successful” – and signed off by concluding that “for individuals in search of a broker that covers all of the basics on a budget, there is no better company out there.”

Meanwhile, in their Fusion Markets review, Brokerchooser.com called the firm “great”, referring to their “low trading and non-trading fees. Account opening is fast and easy. Customer service gives quick and relevant answers.”

They did note, however, that the firm “has limited research and educational tools.”

Customer Service

A huge tick in the box for Fusion Markets is that all traders, regardless of the size or activity of their account, can access their own personal trading specialist when they need advice about the platforms available and how to use them.

You can contact their team – which is based in Melbourne – via telephone or email, while the website has a live chat feature so you can get some immediate assistance.

The only negative aspect is that 24/7 customer support is not provided, so you are on your own at weekends. However, there is a good spread of hours from Monday to Friday if you run into any problems.

Platform Features and Tools

At the time of writing this Fusion Markets review, the brand was offering MT4 across desktop, mobile and tablet as well as WebTrader as their sole trading platforms.

Working alongside your Fusion trading partner, you can streamline MT4 to meet your own needs as far as the products you want to trade are concerned and the market indicators you mostly use.

As you know, MetaTrader 4 has been the industry standard for several years thanks to its ease of use, transaction speeds and multi-device convenience. It provides a number of flexible trading tools, such as one-click trading, along with automated trading across Fusion’s range of Forex, CFDs and asset library.

With the MT4 mobile app, which is available on iOS and Android devices, you can check your portfolio on the move and undertake some basic technical analysis via the various charts and indicators to ensure you time your market moves right no matter where you are. Both options are fully customisable to your needs, so you can modify the look and feel of the software to improve your trading experience. You can also find profit/loss sheets easily.

However, we found the range of trading options – market, limit, stop – to be quite basic, so if you are a more advanced trader looking for more creative ways to open and close positions or even to fall back on simple copy trading, you will need to look elsewhere for a broker who offers their own proprietary solutions.

Other tools that are available via the Fusion Markets stock trading service include a live pricing chart that brings together real-time updates across their spectrum of commodities, assets and indices, keeping you on top of all the key movements in one place.

Fusion traders can also enjoy an exclusive discount at a couple of different VPS providers, with up to 25% off the standard charge to ensure that you are connected around the clock.

Mobile Trading

One of the best things about MT4 on mobile is that it offers much of the same functionality as the desktop version.

If you are away from your workstation, you can at least monitor your trading activity and complete transactions on the move via your smartphone or tablet.

After downloading the app, you are granted access to the Fusion Markets server, from which you can access your account, maintain your portfolio and analyse market movements, all at the flick of the screen.

The user experience on mobile is good as the navigation is easy to understand and follow. This speeds up the process of making swing trades, if that is your approach. It is simple to find each of the tradeable assets using the category headings or the dedicated search function.

You can conduct a number of trades via the mobile platform, including market execution and buy/sell limit and stop, which keeps you ahead of the game even when you can’t get to your desk.

Robo Trading

There are several automated trading options available courtesy of the Fusion Markets stock trading platform through both MT4 and WebTrader.

For more advanced robo and algorithmic trading, you may want to download the Expert Advisor tool. This handy piece of software will help you to make the most of your automated trades even when you are away from your workstation, carrying out buy/sell orders based on your unique parameters.

At the time of writing this Fusion Markets review, there is no copy trading tool available, so you can’t automate your trades based on an expert’s own portfolio.

Research and Learning Section

One of the areas in which many trading brokers have invested heavily is research and education. Unfortunately, Fusion Markets has not followed suit.

They don’t employ their own research team, so if you are looking for information and data to base your trades on, you will need to use external sources or the MT4 platform.

Sadly, most of the best research tools are not free of charge, and Fusion Markets’ lack of a news feed means you will be using third parties a lot.

There is also a complete absence of educational tools available at Fusion Markets. There are no webinars, videos, or written content to help newcomers to trading get started. There is barely any user information about MT4 or WebTrader.

If you are lucky, you may find the answers to your questions in the FAQ section of their site, but don’t hold your breath.

Indeed, the only “educational” tool at Fusion Markets is a demo account, where you can learn from your mistakes without risking your capital.

However, that’s not good enough for a trading broker in this day and age, and we can only hope that Fusion get their act together in this area soon.

Regulatory Details

Fusion Markets is the trading name of Gleneagle Asset Management, which has been granted approval to trade by the Australian Financial Services Licence (AFSL) body.

In addition, Gleneagle and Fusion are regulated by the Australian Securities and Investment Commission (number 226199).

By being approved for an AFSL and by ASIC, Fusion can show that it is competent to carry out its business effectively, have the financial backing to protect its customers’ investments, and comply with the strictest of national standards in service and dispute resolution.

All client funds are stored separately from Fusion’s main account in segregated Client Trust Accounts with Westpac, complying with ASIC client money rules.

OUR SUMMARY

Our Summary

4
Score: Good
GET STARTED

In this Fusion Markets review, we have comprehensively examined this trading broker’s platform and service offering.

The way in which this brand is trying to differentiate from the crowd is simple: appealing to the wallets of traders across Australia. That’s why it charges lower commissions than all other brokers, backed by no fees charged on credit and debit card payments.

Of course, there is more to a trading platform than simply keeping costs low. It is disappointing that Fusion is only offering MT4 and WebTrader, with a range of other options available that are helping to push the envelope as far as personal trading is concerned.

Nevertheless, if you are comfortable using the two platforms mentioned, you will feel at home at Fusion.

There is a decent spread of tradeable assets and CFDs available here, with more than 90 currency pairs putting Fusion right up there as far as Forex availability is concerned. It isn’t quite as comprehensive when it comes to indices and precious metals, and only five crypto pairings can be traded right now.

The trading offer at Fusion is solid but not spectacular. There are only a couple of account types, including the Multi Account Manager, and automated options are fairly sparing; you will need to download the Expert Advisor tool if this is an avenue you wish to take.

There’s no copy trading either, and the only education tool offered by Fusion is the chance to learn by doing via their demo account offering.

With no independent research, news or analysis on the site, you will need to turn to third-party sources if you are looking for market insight – a major drawback of this firm’s industry provision.

In summary, Fusion Markets is a solid enough trading platform and, notably, one of the cheapest around based on fees and commissions.

It lacks the depth and quality of many of their competitors, but if you are simply looking to protect your financial bottom line with the lowest charges possible, Fusion Markets can cater for your demands.

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