Fusion Markets Review Australia 2026

Verdict

Fusion Markets is the cheapest ASIC-regulated broker we cover for active forex traders, and that headline alone is enough to put it on the shortlist. The Zero account charges AUD 4.50 round-turn per standard lot. That’s a meaningful saving against the AUD 7 round-turn at IC Markets and Pepperstone, and the gap compounds quickly once you’re trading more than a few lots a week. Spreads on EUR/USD start from 0.0 pips, and our cost testing has consistently put Fusion in the top three on total all-in cost for major forex pairs.

The trade-offs are honest. Fusion is a smaller broker than Pepperstone, IC Markets or CMC by client volume and brand recognition. The research and education stack is thinner. Share CFD coverage is narrower. There’s no proprietary platform with the depth of CMC’s Next Generation. What you’re paying for at Fusion is execution and pricing. If you’ve already worked out which platform you want to use and don’t need hand-holding through onboarding or daily research, the cost savings are real and they’re sustained.

Quick facts

Trading costs and fees

Zero account commission and spread

The Zero account is the right choice for any active forex trader. Spreads on EUR/USD start from 0.0 pips and average around 0.1 pips during AU and London sessions. The commission is AUD 4.50 round-turn per standard lot (AUD 2.25 per side per 100k notional). Calculated as a total cost equivalent in pips at AUD/USD 0.65, you’re paying roughly 0.1 + 0.29 = 0.39 pips total cost on EUR/USD.

That figure is the lowest published total cost on EUR/USD across the 30 ASIC-regulated brokers we cover.

The AUD 4.50 round-turn is the headline. If you trade 50 standard lots per month, that’s roughly AUD 125 saved versus IC Markets or Pepperstone. At 200 lots a month, the saving compounds to AUD 500.

Classic (no-commission) spreads

The Classic account uses spread-only pricing. EUR/USD typically prices at 0.8 to 1.0 pips with no commission. This account is the right fit if you trade infrequently and don’t want a commission line item to track.

Other fees AU traders should check

• Overnight swap rates apply on positions held past 5 PM New York. Direction-dependent.
• Currency conversion applies if you trade an instrument denominated outside your account base currency.
• Withdrawal fees: $0 on most methods including PayID, BPAY, PayPal and bank transfer.
• Inactivity fee: none.
• Deposit fees: $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. That suits the broker’s positioning. You’re paying for execution and pricing, not a custom front end.

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

MT5 is the right choice 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

Fusion supports TradingView charting integration. The depth of native TradingView trading on the broker is more limited than what’s available at Pepperstone or OANDA in our 2026 testing. Verify the current scope on Fusion’s website before you commit.

DupliTrade for copy trading

Fusion partners with DupliTrade as its copy trading layer. DupliTrade is a third-party platform connecting clients with vetted strategy providers.

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: 8.4/10.

Regulation

Gleneagle Securities 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 also holds:

• VFSC (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 qualify as a wholesale client and choose to onboard offshore. We don’t recommend this path for retail traders.

Reputation and history

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

Fusion Markets carries strong public review scores. TrustPilot is rated above 4.5/5 with several thousand reviews globally. Common positives in the review base: low cost, fast withdrawal processing, helpful support. Common negatives: smaller research library, occasional widening on exotic pairs during off-peak hours.

Account types and minimum deposit

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, narrower than the multi-asset CFD specialists.

• Forex: 90+ pairs including major and minor AUD crosses
• Indices: major global indices including ASX 200, S&P 500, NASDAQ, FTSE 100, DAX
• Commodities: gold, silver, oil (WTI and Brent), natural gas, soft commodities
• Cryptocurrencies: crypto CFDs on BTC, ETH, XRP and other majors
• Share CFDs: available, though the range is materially narrower than CMC’s 10,000+
• ETFs: ETF CFDs offered
• Bonds: limited fixed-income coverage

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 is functional rather than category-leading:

• 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

Bottom line

Fusion Markets is the lowest-cost ASIC-regulated broker in our 2026 coverage for active forex traders. The AUD 4.50 round-turn commission is meaningfully cheaper than the AUD 7 charged at IC Markets and Pepperstone, and over a typical month’s volume the saving is real. The trade-off is scale and depth: smaller broker, thinner research, narrower share CFD range. Phil Horner’s ex-Pepperstone background shows up in the operating model. The pricing argument is the one to focus on.

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