📋 KolaTrading Verdict — May 2026
Bottom Line
Fusion Markets is the closest thing to a no-frills cost leader in the ASIC space. The Zero account pairs raw EUR/USD spreads near 0.0 pips with a A$2.25-per-side commission — one of the lowest all-in costs of any broker we test. You also get four platforms (MT4, MT5, cTrader and TradingView), PayID funding and no minimum deposit. The trade-off is everything around the edges: there is no proprietary platform, research is thin, and the brand has nothing like the corporate weight of an IG or CMC. For a cost-focused scalper or algo trader who already knows their way around MetaTrader, it is hard to beat. For a beginner who wants hand-holding and deep research, it is not the obvious pick.
✓ What We Like
ASIC-regulated entity with segregated client funds and negative balance protection for AU retail clients
Among the lowest all-in costs we measure — A$2.25/side on the Zero account
Raw EUR/USD spreads regularly sit at 0.0–0.1 pips during liquid hours
Four platforms supported: MT4, MT5, cTrader and TradingView
No minimum deposit, no inactivity fee, no deposit or withdrawal fees from Fusion’s side
PayID and POLi funding for fast, AU-native deposits
Fast, fully digital signup — approved same day in our test
Free VPS hosting for active and algorithmic traders
✗ What We Don’t Like
No proprietary platform — you are entirely reliant on third-party software
Research and education are thin compared with IG, CMC or Pepperstone
Smaller instrument range (~250) than the multi-thousand line-ups of larger rivals
Most non-AU clients are onboarded under the offshore Vanuatu (VFSC) entity
Share CFDs are only available on MT5
Brand is far less established than the LSE/ASX-listed majors
Phone support is limited; help is mostly chat and email
🔬 My Live Testing Experience — Mar – Apr 2026
I opened a Fusion Markets Zero (Raw ECN) account in March 2026, deposited A$500, and traded it over 30 days during the London and New York sessions. Everything below is based on what I personally observed — not what Fusion claims on its website.
What went well
The low cost is real, not a headline. On EUR/USD during the London session, the raw spread sat at 0.0–0.1 pips across most of my trades. With the A$2.25/side commission, my all-in cost came to roughly A$4.50 round-turn per lot — meaningfully cheaper than the ~A$6–7 round-turn I record at most ECN rivals.
Funding was painless. I deposited via PayID on a weekday morning and the balance showed up in a couple of minutes. Signup was fully digital and approved the same day, with KYC done at registration — so I could trade straight after funding.
Execution on cTrader was clean. Fills on AUD/USD and EUR/USD came through quickly during the overlap, and I saw no requotes across roughly 50 round-turn trades.
What frustrated me
There is no proprietary platform to fall back on. If you do not already like MetaTrader or cTrader, there is nothing else here.
Research is sparse. There is no real morning note, no in-house analysis desk, no deep market commentary. You bring your own edge.
Share CFDs only work on MT5, which felt like an odd limitation after the broad platform choice elsewhere. And the brand is small — there is no LSE or ASX parent to lean on for reassurance, only the ASIC licence itself.
⚠ Important risk warning — from my own experience
CFDs are leveraged products and roughly 70–80% of retail CFD accounts lose money. Fusion’s own disclosures sit in this range. The tight spreads and low commission are genuinely useful tools — but they don’t make CFD trading safe or simple. If you’re new to markets, start with a demo account, trade for at least a month, and only fund a live account when your strategy produces consistent demo results. Low cost does not change the underlying risk.
⭐ Detailed Scores
Spreads & Fees4.8
One of the lowest all-in costs we measure. A$2.25/side plus near-zero raw spreads. No deposit, withdrawal or inactivity fees.
Trading Platforms4.4
MT4, MT5, cTrader and TradingView all supported — rare breadth. Loses points for no proprietary platform of its own.
Regulation & Safety4.2
ASIC-regulated with segregated funds and negative balance protection for AU clients. Score reflects offshore VFSC entity for non-AU clients.
Funding & Withdrawals4.6
PayID, POLi, card and bank transfer all supported. No fees on AU methods. PayID near-instant; withdrawals typically same to next day.
Research & Education3.3
The clear weak spot. Minimal in-house research, no morning notes, light education library. You supply your own analysis.
Customer Support4.2
Responsive chat and email, advertised 24/7. Phone support is limited compared with the bank-backed majors.
💰 Fees & Spreads — What We Actually Recorded
Fusion offers two main pricing models. The Zero account charges A$2.25 per side (A$4.50 round-turn) with raw spreads from 0.0 pips — the one that wins on cost. The Classic account is commission-free, but the cost is baked into wider spreads from around 0.9 pips.
For active traders, Zero is almost always cheaper. For very low-volume traders placing one or two trades a month, Classic avoids the per-trade commission overhead.
Live Spread Data — 30-Day Test (Zero account, Mar–Apr 2026, Sydney)
| Instrument |
Raw Spread |
Commission (RT) |
| EUR/USD avg | ~0.0–0.1 pips | A$4.50 |
| AUD/USD avg | ~0.1–0.3 pips | A$4.50 |
| Gold XAU/USD avg | ~0.10–0.20 pts | A$4.50 |
All-In Cost Comparison — EUR/USD Round-Turn (1 Std Lot)
💡 Key finding: Spreads observed during London/NY overlap, Mar–Apr 2026, Sydney. The cost gap versus other ECN brokers is real but narrows on low-volume pairs. Your typical spreads will vary with volatility and session.
🌙 Overnight Swap Rates — The Hidden Trading Cost
Every position held past the daily rollover incurs an overnight swap charge or credit. The rate is based on the interest rate differential of the two currencies in your pair, plus a small admin markup.
⚠ Wednesday triple-swap day
Wednesday rollovers are charged at three times the normal rate to cover the weekend settlement cycle. If you hold leveraged positions into Wednesday night, this is your most expensive night of the week. Factor it in before holding through Wednesday’s NY close.
| Instrument |
Long Swap |
Short Swap |
| EUR/USD | Negative | Slightly positive |
| AUD/USD | Negative | Slightly positive |
| XAU/USD | Negative | Negative |
How to Check Swap Rates on Your Platform
MT4/MT5: Right-click any symbol in Market Watch → Specification → scroll to Swap Long and Swap Short.
cTrader: Click the symbol in the left panel → swap rates appear in the Symbol Info section on the right.
Islamic (Swap-Free) Account
A swap-free account is available for traders whose beliefs prevent paying or receiving interest. Spreads start wider (~1.4 pips EUR/USD) and an admin fee applies on positions held beyond a grace period. Available on request — contact Fusion support to activate.
👤 Account Types
Zero Account
Recommended
Min. DepositA$0
Spread ModelRaw ECN from 0.0 pips
CommissionA$2.25/side (A$4.50 RT)
Max Leverage30:1 (ASIC retail limit)
Best ForScalpers, algos, cost-focused traders
Classic Account
Min. DepositA$0
Spread ModelFrom ~0.9 pips
CommissionNil — built into spread
Max Leverage30:1 (ASIC retail limit)
Best ForBeginners wanting simple pricing
Swap-Free / Fusion+
Min. DepositA$0
Swap-Free SpreadFrom ~1.4 pips
Copy TradingFusion+ available
CommissionNil; admin fee after grace period
Best ForIslamic accounts; copy traders
💡 Which account should you choose?
For anyone trading actively, the Zero account is cheaper overall — raw spreads plus a low A$2.25/side commission. Beginners often start on Classic for simple all-in-spread pricing, then move to Zero as volume grows. There is no minimum deposit on either. Swap-free (Islamic) accounts are available on request.
🏦 Deposits, Withdrawals & Payment Methods
Payment options are a genuine strength for Australian clients. Fusion supports PayID and POLi for fast local funding, alongside cards and bank transfer. Fusion charges A$0 on all its own deposit and withdrawal methods.
In my test, a PayID deposit cleared in a couple of minutes and a withdrawal back to my AUD bank account landed the next business day.
| Method |
Deposit Time |
Withdrawal Time |
Fee |
| PayID | Near-instant | Same–next business day | $0 |
| POLi | Near-instant | Deposit only | $0 |
| Visa / Mastercard | Instant | 1–5 business days | $0 |
| Bank Transfer (AUD) | Same–1 business day | 1–3 business days | $0* |
| PayPal / Skrill / Neteller | Instant | Varies by wallet | $0 |
| Crypto | Near-instant | Near-instant | $0 |
* International transfers: Fusion charges nothing on its own methods, but international SWIFT bank transfers can attract a third-party fee (typically USD $20–30). For AU-to-AU funding, PayID or POLi avoid this entirely.
No third-party payments: deposits must come from a bank account, card or wallet in your own name (joint accounts are fine if you are named).
Same-source rule: withdrawals generally return to the method you deposited with, to satisfy AML requirements.
🏛 Regulation & Safety
Fusion Markets is Melbourne-based and holds an Australian Financial Services Licence under ASIC. Australian retail clients are served by the ASIC-regulated entity — which means segregated client funds at Australian banks and negative balance protection. Verify the AFSL at connectonline.asic.gov.au.
| Regulator |
Jurisdiction |
AU Clients |
| 🏛 ASIC | Australia — AFSL 385620 | Yes — primary entity |
| 🏛 VFSC | Vanuatu | Non-AU clients |
| 🏛 FSA | Seychelles | Non-AU clients |
⚠ Know which entity you trade under
Australian clients get full ASIC protections. Most non-AU clients are onboarded under the offshore Vanuatu (VFSC) entity, which offers weaker oversight and no investor compensation scheme. Verify your account entity before funding, and confirm AFSL 385620 at connectonline.asic.gov.au.
Fusion does not have the corporate weight of an LSE- or ASX-listed parent. Its safety case rests on the ASIC licence and segregated funds — solid, but without the extra public-reporting layer the listed majors carry.
🎯 Who Should Use Fusion Markets?
Being honest here — Fusion Markets is not for everyone. It is built for traders who care about cost above all and already know their platform. It is a weaker fit for anyone who wants research, hand-holding or a big-brand safety blanket.
✓ Best for: Cost-focused scalpers and high-volume traders
The A$2.25/side commission and near-zero raw spreads give one of the lowest all-in costs we measure. If you place many trades and obsess over cost-per-lot, this is hard to beat.
✓ Best for: Algorithmic (EA) traders
Free VPS plus a choice of MT4, MT5 or cTrader covers almost any automated strategy. Scalping and EAs are permitted with no order-rate restrictions.
✓ Best for: Self-directed AU traders
PayID/POLi funding, no minimum deposit and no inactivity fee suit traders who bring their own analysis and just want cheap, clean execution.
✗ Not for: Beginners who want education and hand-holding
Research and education are thin. Around 70–80% of retail CFD traders lose money. If you need morning notes, deep learning content and a guided platform, consider
CMC Markets or
Pepperstone instead.
✗ Not for: Traders who want a proprietary platform
There is no in-house platform as a fallback. If you do not like MetaTrader or cTrader, there is nothing else here.
✗ Not for: Non-AU traders wanting top-tier protection
Most non-AU clients are onboarded under the offshore Vanuatu (VFSC) entity, which has weaker oversight and no investor compensation scheme.
Open Fusion Markets Account
A$0 min · ASIC AFSL 385620 · Raw spreads from 0.0 pips · A$2.25/side
Visit Fusion Markets →
ASIC regulated. CFD trading involves significant risk. 70–80% of retail accounts lose money.
❓ Frequently Asked Questions
Is Fusion Markets safe and regulated in Australia?
Yes, for Australian clients. Fusion Markets holds an Australian Financial Services Licence (AFSL 385620) and is regulated by ASIC. AU retail clients get segregated client funds at Australian banks and negative balance protection. Note that most non-AU clients are onboarded under the offshore Vanuatu (VFSC) entity, which has weaker protections and no investor compensation scheme. Always verify your account entity and the AFSL at connectonline.asic.gov.au.
Which Fusion Markets account is best — Zero or Classic?
For most active traders the Zero account is cheaper overall — raw spreads plus a A$2.25/side commission (A$4.50 round-turn). If you prefer simple all-in pricing with no commission to track, the Classic account builds the cost into a slightly wider spread (from ~0.9 pips). Beginners often start on Classic for simplicity, then move to Zero as volume grows. There is no minimum deposit on either account.
What are Fusion Markets’ withdrawal times and payment methods?
Fusion supports PayID, POLi, card, bank transfer and several e-wallets, with A$0 in fees on its own methods. PayID deposits are near-instant. Withdrawals are typically processed same to next business day; card refunds can take 1–5 days. Withdrawals follow the same-source rule and only go to accounts in your own name. International SWIFT transfers may attract a third-party fee (typically USD $20–30).
Does Fusion Markets charge overnight swap fees?
Yes. Positions held past the daily rollover are charged or credited based on the interest rate differential of the two currencies, plus an admin markup. Wednesday rollovers are charged at three times the normal rate to cover the weekend settlement cycle. A swap-free (Islamic) account is available with wider spreads and an admin fee on positions held beyond a grace period. Check rates in your platform before holding overnight: MT4/MT5 users right-click the symbol → Specification; cTrader users click the symbol → Symbol Info.
Does Fusion Markets allow scalping and EAs?
Yes — both are permitted, and the Zero account’s low cost makes it well suited to high-frequency styles. You can run EAs on MT4 or MT5, use cTrader for manual depth-of-market trading, or execute from TradingView. Free VPS hosting is available for traders who want their automated strategies running around the clock.
How does Fusion Markets compare to IC Markets?
Both are ASIC-regulated ECN brokers, but they pull in different directions. Fusion wins on raw cost — its A$2.25/side commission undercuts IC Markets’ A$3.00/side, so the all-in EUR/USD cost is lower. IC Markets counters with a larger instrument range, a more established brand and deeper liquidity infrastructure. Pick Fusion for the lowest cost; pick IC Markets for breadth and scale. See our
IC Markets review for the full comparison.
