Fusion Markets Review 2026: Lowest Commission Broker? We Tested It

Fusion Markets has built its entire brand on one premise: the lowest commission in forex. At $2.25 per side ($4.50 round-trip per standard lot), they charge $2.50 less than IC Markets and Exness per round-trip. For an active trader placing 20 trades per day, that is $50 daily, $1,100 monthly, and $13,200 annually in commission savings. These are not hypothetical numbers — they are the direct financial impact of choosing one broker over another.

But low commissions only matter if spreads, execution, and reliability are competitive. A broker that saves you $2.50 in commission but costs you $3.00 in wider spreads and slippage is not actually cheaper. So we opened a Fusion Markets Zero account and ran a 30-day test alongside IC Markets and Pepperstone to determine whether the savings are real or illusory.

Fusion Markets Overview

• Founded: 2019 (Melbourne, Australia)
• Parent company: Gleneagle Asset Management
• Regulation: ASIC (AFSL 385620), VFSC (Vanuatu)
• Account types: Zero (raw spread + commission), Classic (no commission, wider spread)
• Minimum deposit: No minimum
• Leverage: Up to 1:500 (VFSC), 1:30 (ASIC)
• Instruments: 90+ forex pairs, indices, commodities, crypto, stocks
• Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView
• Commission: $2.25 per side ($4.50 round-trip) on Zero account

Fusion Markets is relatively young (founded 2019) compared to IC Markets (2007) or Pepperstone (2010). However, the parent company Gleneagle Asset Management has been operating since 2010 and holds the ASIC license. The ASIC regulation is tier-1, meaning client funds are segregated in Australian banks with strict compliance requirements.

Commission Comparison: How Much You Actually Save

The commission difference between Fusion Markets and major competitors is substantial. Here is the exact math:

The annual savings for different trading volumes:

Annual savings calculated at 260 trading days/year. All figures assume 1.0 lot per trade on EUR/USD.

For a 20-trade-per-day trader, switching from Pepperstone to Fusion Markets saves $18,200 per year. That is a significant amount — enough to fund a separate trading account, pay for a VPS and data feeds, or simply add to your bottom line.

30-Day Spread Test Results

We tracked tick-by-tick spread data on the Fusion Markets Zero account from March 1 to March 30, 2026. The test was run on an MT5 platform from a VPS in Sydney (closest data center for Fusion).

The EUR/USD average of 0.1 pips matches IC Markets and Tickmill. Fusion is not winning on spreads — they are matching the competition. The cost advantage comes entirely from the lower commission. GBP/USD at 0.5 pips is slightly wider than IC Markets (0.4 pips), and gold at 1.5 pips is 0.3 pips wider. These are small differences, but they reduce the net savings slightly on non-EUR/USD instruments.

AUD/USD is where Fusion Markets performs particularly well at 0.2 pips average. This makes sense given their Australian infrastructure and liquidity provider relationships. If you trade AUD pairs frequently, Fusion offers both tight spreads and the lowest commission.

Execution Speed: The Tradeoff

Here is where the honest assessment begins. Fusion Markets is not the fastest broker:

At 42ms average, Fusion Markets is 14ms slower than IC Markets and 28ms slower than Exness. For most trading styles (swing trading, position trading, even moderate day trading), this difference is irrelevant. For scalping with 2-3 pip targets during volatile sessions, the slower execution means more slippage, which can partially or fully negate the commission savings.

During high-volatility events (NFP, FOMC), Fusion's execution degrades to 68ms with a 33ms variance. This is the main weakness. If you trade news events specifically, IC Markets or Exness deliver measurably better execution during those windows.

Slippage Test Results

We placed 380 market orders across the 30-day period. Here is the slippage breakdown:

The net slippage impact is -$0.26 per trade. This means Fusion Markets' execution costs you an average of $0.26 per trade in slippage. Compare this to IC Markets' net positive slippage of +$0.10 per trade. The execution quality gap is $0.36 per trade, which reduces the $2.50 per lot commission savings to a net advantage of approximately $2.14 per lot for Fusion Markets.

Even after accounting for slippage, Fusion Markets remains the cheapest option for EUR/USD: $5.50 total cost + $0.26 slippage = $5.76 effective cost, versus IC Markets at $7.00 - $0.10 = $6.90 effective cost. Fusion is still $1.14 cheaper per lot when all costs are included.

Platforms: MT4, MT5, cTrader, and TradingView

Fusion Markets offers four platforms, which is more platform diversity than most brokers:

MetaTrader 4 and MetaTrader 5

Standard MT4/MT5 implementations with the full feature set. Nothing unique here compared to other brokers. The commission structure ($4.50 round-trip) applies on both platforms. MT5 is recommended over MT4 for the improved backtesting and additional order types.

cTrader

Fusion Markets launched cTrader support in late 2025. The same $4.50 commission applies (unlike IC Markets, which charges $1.00 less on cTrader). cTrader offers Level II pricing, advanced order types, and a better charting engine than MetaTrader. If you value the cTrader experience, Fusion offers it at the lowest commission of any cTrader broker.

TradingView

Fusion Markets integrates directly with TradingView for trade execution. This means you can place and manage trades directly from TradingView charts without switching platforms. This is a significant advantage for traders who already use TradingView for analysis — no need to maintain separate charting and execution platforms.

Regulation and Trust

Fusion Markets operates under two entities:

• ASIC (Australia): Gleneagle Asset Management, AFSL 385620. Client funds segregated in Westpac and NAB (Australian tier-1 banks). Leverage capped at 1:30 for retail clients.
• VFSC (Vanuatu): Fusion Markets International, License 40256. Higher leverage (up to 1:500) but weaker regulatory oversight and no compensation scheme.

Most international traders are onboarded through the VFSC entity for higher leverage. Australian residents are onboarded through the ASIC entity. The ASIC regulation is strong, but the VFSC license is a lower-tier regulator. If regulatory strength is your priority, IC Markets (ASIC + CySEC) or Tickmill (FCA + CySEC) offer broader regulatory coverage.

Fusion Markets has been operating since 2019 with no regulatory actions or client fund complaints that we are aware of. The track record is shorter than IC Markets (17 years) or Pepperstone (16 years), which is the primary trust concern.

Deposits and Withdrawals

Fusion Markets supports a wide range of payment methods with no fees on deposits or withdrawals:

We tested a Skrill withdrawal of $2,500 and received it within 6 hours. The crypto deposit option is useful for traders who want faster funding without sharing banking details. Fusion does not charge any internal fees for deposits or withdrawals, which is consistent with their low-cost philosophy.

Who Should Choose Fusion Markets?

High-Volume Day Traders

If you trade 10+ lots per day, the $2.50 per lot savings on commission adds up to meaningful money. A trader doing 20 lots daily saves $50 per day or $13,000 per year compared to IC Markets MT5. This is the strongest use case for Fusion Markets — pure cost optimization for high-volume trading.

Swing Traders

For traders holding positions for hours to days, execution speed is less important and commission is the dominant cost. Fusion's 42ms execution is more than adequate for swing entries, and the $4.50 commission reduces the break-even distance on every trade.

AUD Pair Specialists

Fusion's Australian infrastructure gives them a natural advantage on AUD pairs. The 0.2 pip average on AUD/USD is competitive with the tightest spreads available, and the low commission makes it the cheapest way to trade AUD pairs.

Who Should Look Elsewhere

• News scalpers: 68ms execution during NFP is too slow for news scalping. Choose Exness (22ms) or Tickmill (23ms) for event-driven strategies.
• Traders requiring FCA or CySEC regulation: Fusion only has ASIC and VFSC licenses. If you need FCA investor protection, look at Tickmill or Pepperstone.
• Traders who need deep liquidity guarantees: Fusion's daily volume is approximately $4 billion, compared to IC Markets' $20 billion. For very large orders (50+ lots), IC Markets offers deeper liquidity and less market impact.
• Gold and oil traders: Fusion's gold spread (1.5 pips) and oil spread are slightly wider than competitors. The commission savings may not fully offset wider spreads on these instruments. Check our gold spread comparison for detailed data.

Swap Rates and Overnight Costs

Fusion Markets' swap rates are competitive but not the lowest. Here is how they compare on commonly held positions:

Exness has the best swap rates overall, particularly on gold (-$35 vs Fusion's -$40 and IC Markets' -$42). For swing traders holding gold positions for multiple days, the swap difference matters: holding 1 lot of gold long for 10 days costs $400 at Fusion vs $350 at Exness — a $50 difference per position.

For day traders who close all positions before the daily rollover, swap rates are irrelevant. For swing traders, factor swap costs into your broker comparison alongside spreads and commissions.

Instrument Selection

Fusion Markets offers a broad range of instruments, though not as extensive as IC Markets:

Fusion Markets actually offers more forex pairs (90+) than IC Markets (61), which is unusual. They include many exotic and minor pairs that IC Markets does not list. However, IC Markets dominates on indices (25 vs 11), commodities (19 vs 8), and especially stocks (1,600+ vs 50+). If you need a diverse multi-asset portfolio, IC Markets is the better choice despite higher commission.

Fusion Markets Copy Trading

Fusion Markets offers a copy trading service called "Fusion+" that allows you to follow and automatically replicate the trades of other Fusion Markets clients. This is similar to eToro's social trading but with Fusion's lower commission structure.

Key features of Fusion+:

• No management fee: Unlike most copy trading platforms, Fusion+ charges no additional fee for following other traders
• Performance history: You can view detailed performance statistics, drawdown data, and risk metrics for each signal provider
• Flexible allocation: Set your own lot size multiplier and maximum risk per trade
• Commission: Same $4.50 per lot round-trip on copied trades

Copy trading at $4.50 commission is the cheapest available. At IC Markets (via cTrader copy), the same trades cost $6.00 per lot. For traders who want to follow experienced traders while minimizing costs, Fusion+ is a compelling option.

Strengths and Weaknesses

Strengths

• Lowest commission in the industry ($4.50 round-trip)
• Competitive raw spreads (0.1 pip EUR/USD average)
• No minimum deposit requirement
• Four platforms including TradingView integration
• No deposit or withdrawal fees
• ASIC regulation (tier-1 for Australian entity)
• Cryptocurrency deposits supported

Weaknesses

• Slower execution (42ms) compared to IC Markets (28ms) and Exness (14ms)
• Higher execution speed variance during volatile events
• Younger broker (founded 2019) with shorter track record
• Lower daily volume (~$4B) meaning less deep liquidity
• VFSC license for international clients is weaker than CySEC/FCA
• Slightly wider spreads on gold and cross pairs

Fusion Markets vs The Competition: Detailed Scenarios

To help you decide, here are three realistic trading scenarios with costs calculated for Fusion Markets versus its main competitors:

Scenario 1: Day Trader — 15 Trades/Day, EUR/USD, 1.0 Lot

Fusion saves $5,850 per year versus IC Markets and Exness, and $13,650 versus Pepperstone. At 15 trades per day, the commission difference is unmistakable.

Scenario 2: Swing Trader — 3 Trades/Week, Mixed Pairs, 0.5 Lots

For a swing trader doing 3 trades per week at 0.5 lots, annual costs are: Fusion $429, IC Markets $546, Exness $546, Pepperstone $702. The savings are $117-$273 per year. At this low frequency, the broker choice matters less, and other factors (swap rates, platform features, regulation) become relatively more important.

Scenario 3: Scalper — 40 Trades/Day, EUR/USD, 2.0 Lots

At 40 trades per day with 2.0 lot positions, annual costs are: Fusion $114,400, IC Markets $145,600, Exness $145,600, Pepperstone $187,200. Fusion saves $31,200 per year versus IC Markets and a staggering $72,800 versus Pepperstone. At this activity level, the commission rate is by far the most important cost factor.

However, at 40 trades per day with large lots, execution quality becomes critical. Fusion's 42ms execution and -$0.26 slippage per trade costs the scalper $10.40 per day in slippage ($2,704 per year). IC Markets' +$0.10 per trade saves $4.00 per day ($1,040 per year). Net difference after slippage: Fusion still saves approximately $27,456 per year versus IC Markets. The commission advantage dominates even after accounting for inferior execution.

Our Verdict: 8.2/10

Fusion Markets delivers on its core promise: the lowest trading commission in the forex industry. The $4.50 round-trip commission is real, the 0.1 pip EUR/USD spread is competitive, and after accounting for slippage, Fusion Markets is still the cheapest broker we have tested for EUR/USD trading. For high-volume traders who prioritize cost above all else, Fusion is the rational choice.

The tradeoffs are execution speed and regulatory depth. If you need sub-30ms fills for scalping or FCA/CySEC protection for larger account balances, IC Markets or Tickmill are better fits. But for the majority of day traders and swing traders who trade primarily major pairs, the annual savings of $5,000-$15,000+ in commission make Fusion Markets worth serious consideration.

For a detailed three-way comparison, see our Fusion Markets vs IC Markets vs Tickmill article, and for the complete broker ranking, visit our Lowest Spread Forex Brokers 2026 comparison.

Frequently Asked Questions

Is Fusion Markets legit and safe?

Yes. Fusion Markets is regulated by ASIC (Australia) under AFSL 385620, which is tier-1 regulation. Client funds are segregated in Australian banks. The VFSC (Vanuatu) entity for international clients has weaker oversight but no reported issues since the broker launched in 2019.

Why is Fusion Markets commission so low?

Fusion Markets operates with minimal overhead — no expensive sponsorships, no physical offices beyond their Melbourne headquarters, and lean staffing. They pass the savings to clients as lower commissions. The $2.25 per side commission saves active traders thousands per year compared to IC Markets, Exness, or Pepperstone.

What is the minimum deposit for Fusion Markets?

There is no official minimum deposit. You can fund with any amount. Practically, you need $50-$100 to trade the minimum 0.01 lots with adequate margin, depending on the instrument and leverage.

How fast is Fusion Markets execution?

Our test measured 42ms average execution during normal market conditions, 35ms during calm periods, and 68ms during high-volatility events. This is slower than IC Markets (28ms) and Exness (14ms) but adequate for most trading styles except ultra-fast scalping.

Fusion Markets vs IC Markets: which is cheaper?

Fusion Markets is cheaper on total cost. Fusion: $4.50 commission + 0.1 pip spread = $5.50 per lot. IC Markets (cTrader): $6.00 + 0.1 pip = $7.00 per lot. Even after accounting for Fusion's slightly worse slippage, it remains approximately $1.14 cheaper per lot on EUR/USD.

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