What We Tested
- Account type: Zero Account ($1,000 starting balance for test)
- Platform: MT4 on VPS (latency ~15ms to NY4/LD4)
- Trading period: 6 months, 145 trades executed
- Pairs tested: EURUSD, AUDUSD, XAUUSD
- Withdrawal tests: 3 successful (card, bank wire, crypto/USDT)
- Support tests: 5 inquiries via live chat
Testing focused on the "lowest cost" claims. We compared total fees, spread plus commission, against IC Markets and Pepperstone.
Regulation & Safety
Fusion Markets answers to a Tier-1 regulator. Offshore entities add global reach:
- ASIC (Australia) – AFSL No. 226199: Tier-1 regulation, client fund segregation, strict compliance
- VFSC (Vanuatu) – Offshore entity for non-ASIC/FSA clients, offering higher leverage (up to 1:500)
- FSA (Seychelles) – License No. SD096: Offshore entity, provides intermediate oversight
How licences work and what offshore routing changes: Offshore Brokers: Jurisdiction Risk · How Regulated Brokers Scam Legally
Spreads & Execution
| Pair | Zero Avg Spread | Classic Avg Spread | Commission (Zero) |
|---|---|---|---|
| EUR/USD | 0.1 pips | 1.0 pips | $4.50/lot RT |
| GBP/USD | 0.3 pips | 1.2 pips | $4.50/lot RT |
| AUD/USD | 0.1 pips | 1.0 pips | $4.50/lot RT |
| XAU/USD | 12 pips | 20 pips | $4.50/lot RT |
Spreads measured during London/NY overlap. Zero Account charges raw spread + low commission; Classic Account includes markup, no commission.
Execution Quality (Tested)
- Median fill time: ~11-18ms (VPS to market servers)
- Slippage (majors): +0.4 pips average, mostly neutral or positive (favorable fills)
- Requotes: <0.5% of orders (negligible in Zero Account)
- Order rejection rate: <0.3% (very low)
Execution is very competitive. It is not quite as fast as IC Markets' 3-6ms. The extremely low commission makes up for that. The total cost of execution stays low for scalpers.
What sits behind these execution numbers: Slippage and Latency · Anatomy of an Order · Trading terms glossary
Lowest Commission: $4.50 RT (Industry Leading)
Fusion Markets offers institutional-grade commission rates to retail traders:
- Zero Account: $4.50 USD per round turn lot ($2.25 per side)
- Industry Average: $7.00 USD per round turn lot ($3.50 per side)
- Savings: You save 35% on commission compared to major rivals like IC Markets and Pepperstone.
This tiny difference ($2.50 per lot) translates to significant savings for active traders. Trading 100 lots per month saves you $250. This is the broker's primary competitive advantage.
Account Types & Fees
Raw-spread account
- Min deposit: $0 (recommended $200+)
- Spreads: From 0.0 pips (raw ECN)
- Commission: $4.50/lot RT (industry low)
- Leverage: Up to 1:500 (ASIC: 1:30)
- Best for: Scalpers, EAs, cost-sensitive traders
Standard-type account
- Min deposit: $0 (recommended $50+)
- Spreads: From 0.9 pips (markup included)
- Commission: $0
- Leverage: Up to 1:500 (ASIC: 1:30)
- Best for: Beginners, swing traders, simple pricing
Other Fees
- Deposit fees: $0 (all methods: card, wire, crypto, PayPal)
- Withdrawal fees: $0 (broker covers fees on most methods)
- Inactivity fee: None (genuinely $0 inactivity fees)
- Swap rates: Competitive; Islamic accounts available (swap-free)
Deposits & Withdrawals (Tested)
We tested 3 withdrawal methods over 6 months:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card | $200 | 1 business day | $0 | Fast approval, reliable |
| Bank Wire | $500 | 2 business days | $0 | Broker covers fees; standard bank delay |
| Crypto (USDT) | $150 | 3-6 hours | $0 | Fastest method tested (TRC-20/ERC-20) |
How payout problems start at weaker brokers: Withdrawal Blocking Patterns
Platforms & Tools
- MetaTrader 4 & 5: Full desktop, mobile, web versions. Stable API for EAs and custom indicators.
- TradingView Integration: Trade directly from TradingView charts with Fusion execution (excellent feature).
- Fusion+ Copy Trading: In-house social/copy trading platform for following successful traders.
- VPS Hosting: Offered to qualifying clients (usually needs a volume/balance commitment).
Our Take: Platform choice is strong. TradingView integration is a major plus for manual chartists. MT4/MT5 remain stable for EAs. Fusion+ adds useful social trading features.
Customer Support (Tested)
We contacted Fusion Markets support 5 times via live chat and email:
- Live Chat: 24/5, average response time ~2 minutes, knowledgeable and responsive
- Email: Responses within 4-12 hours, adequate technical detail
- Quality: Support quality is high. They were fast to answer questions on commission tiers and ASIC regulation. They showed good product knowledge.
Support is quick and efficient. For a discount broker, the human service is surprisingly good. It puts them ahead of many rivals in the same price tier.
PROS
- Extremely low commission ($4.50 RT) and tight spreads (0.1 pips EUR/USD)
- ASIC regulation provides strong investor protection
- Zero minimum deposit and no inactivity fees
- Free deposits and withdrawals across all major methods (including crypto)
- TradingView integration (excellent for technical traders)
- Segregated client funds in Australian banks
- Fast execution and reliable order fills
CONS
- Lighter regulation (VFSC/FSA) for international clients
- Lack of proprietary research tools and in-depth market analysis
- Lower leverage cap (1:30) for ASIC clients (regulatory standard)
- Fewer stocks/shares CFDs compared to IG or CMC Markets
Who Is Fusion Markets For?
- Great fit: Seasoned scalpers, EAs/Algo traders, and cost-sensitive high-volume traders. Every tenth of a pip matters to them.
- Good fit: Traders moving from spread-only accounts who want a low-cost, fully ECN setup.
- Maybe: Beginners, thanks to the low minimums. But they must understand how the commission works.
- Not ideal: Traders who rely heavily on in-depth market research or educational videos. Also those who need a compensation scheme such as the FCA's FSCS or CySEC's ICF.
Final Verdict
Fusion Markets has become a leading low-cost ECN broker. It strips away extra features to deliver razor-thin spreads and a remarkably low commission of $4.50 RT. This mix is highly competitive. On total trading cost, it rivals industry giants like IC Markets.
The ASIC regulation provides a solid foundation of trust. Execution is fast and spreads are raw. The critical number, total cost per trade, is nearly unmatched in the retail ECN space.
The platform lacks the research and educational depth of a broker like OANDA. For active traders, TradingView integration and highly responsive support more than make up for it.
How this score is calculated: Our testing methodology