With the coronavirus still wreaking havoc in the global economy, a lot of businesses have already either shuttered or filed for bankruptcy. Needless to say, brick and mortar businesses are slowly becoming passé, with the online industry exponentially growing as everyone opts to shut themselves up at home. Hence, the further rise of online trading. Depending on the market of course, trading assets online may either make or break a trader. As losing a lot of money over Forex and CFDs are commonplace in the industry, so are highly-lucrative and success stories in trading.
While not wholly dependent on it, it will definitely help the trader or investor should he or she know which broker would be reliable in these challenging times. Enter, Fusion Markets.
Fusion Markets is probably one of the most lauded brokerage firms in the industry today. Much of the praises that it gets are owed to its competent fee structure. Apart from this, the review team had also taken note of the speed of transactions administered through the platform.
What to Expect from This Review
This review is a result of months spent with the brokerage firm. The review team had looked not only into the fee structure and the transaction process, but also the available commissions and the trading platform that the brokerage uses. This review is an attempt at giving its readers and pointed and informed assessment Fusion Markets’ entire artillery of services and offers so as to help them decide if enlisting the services of the brokerage is truly worth it.
About Fusion Markets
Fusion Markets is an Australian brokerage firm that trades Forex and CFDs. It is regulated by two leading financial authorities, namely, the Australian Securities and Investments Commission (ASIC) and Vanuatu Financial Services Commission (VFSC).
Being regulated by two legitimate financial authorities speak well of Fusion Markets’ own legitimacy. Should there be allegations of fraudulent activities or scamming, these can easily be dispelled by affirming the firm’s status as a legal entity. Fusion Markets is then compelled to police itself so as to not fall under the scrutiny of the ASIC and VFSC.
As already mentioned, much of the positive reviews that Fusion Markets had received are owed to the fee structure that it provides. The following are true for the firm and its clients:
- No Inactivity Fee
- No Withdrawal Fee
- No Minimum Deposit
- $4.50 commission per lot per trade (EUR/USD and GBP/USD)
- Fees built into spread (S&P 500 CFD)
- Benchmark Fees:
EUR/USD – $12.80
GBP/USD – $9.40
AUD/USD – $7.40
EUR/CHF – $2.00
EUR/GBP – $7.00
- CFD Fees (2,000 long position for a week)
S&P Index CFD – $1.7
These figures paint a good picture for traders looking into raking in profits without having to break the bank. While the mantra, “To earn money, you have to spend money”, remains true, fact of the matter is, Fusion Markets had done well in taking only a few from its clients, probably recognizing that they have already enough from its huge body of users. This actually brings to question why other firms do not have the capacity of extending the same provisions; why must the lesser-known firms charge more compared to the likes of Fusion Markets? In addition, the absence of a minimum deposit benefits those who might not be comfortable with being asked to immediately place their money at stake.
It can be assumed that these specifics illustrate Fusion Markets as a client-centric brokerage, thus enticing more clients to enlist under their services.
There are two types of accounts under the Fusion Markets wing:
- The Classic Account
In this account type, the clients are privy to fees built into spreads with zero commissions.
- The ECN Account
Here, tight spreads are available and the commissions are charged.
In addition to these, Fusion Markets also make corporate accounts available.
Opening an account with Fusion Markets is easy. All the user has to have are his or her email address, personal details, government-issued IDs, and a utility bill. Navigating through the site’s registration page is easy in light of its highly-intuitive interface. For a detailed process on opening an account with Fusion markets, you go to https://fusionmarkets.com/hub/auth/sign-up.
Base Currencies Available
What users may find questionable is Fusion Markets’ provision of only 6 Base Currencies, these are: the USD, EUR, GBP, AUD, JPY, and SGD.
The provision of such is integral to the review, primarily because it brings to light two things:
- Funding one’s account in the same currency as the user’s bank account absolves him or her from a currency conversion fee.
- Trading assets in the same currency as the account base currency means one does not have to pay a conversion fee.
Trading Platform: MetaTrader 4
Fusion Markets had been wise in partnering with industry-trusted, MetaQuotes in providing MetaTrader 4 to its clients. The provision of such allows for transparent fee reports, customization of charts, and immediate order confirmation. The permission of such makes all trading activities easier.
H2 – Deposit and Withdrawal
Probably the only thing that the review team wished could have been different is the duration of credit card withdrawal. Upon testing, it took more than 3 days for money to be withdrawn from Fusion Markets.
Trade with Fusion Markets Today!
Throughout the review team’s observation and usage of Fusion Markets’ services, it had gathered a number of positive points. Much like what other review entities had observed, the firm’s fee structure is highly-competitive, with an absence of fees that are usually charged by other lesser-known brokerages. Also a notable offer is its provision of the MetaTrader 4 platform, something that allows for easier navigation and customization of pertinent trading tools.
With the endeavour of trading Forex and CFDs already high risk, it is assuring to have a brokerage like Fusion Markets to pin one’s trust on. The review team highly recommends this brokerage.