Fusion Markets is a low-cost forex and CFD broker based in Victoria, Australia, known for raw spreads and low commissions on MetaTrader 4, MetaTrader 5, cTrader and TradingView. Australian clients are served by FMGP Trading Group Pty Ltd under ASIC licence AFSL 385620, while international clients are onboarded through Vanuatu (VFSC) and Seychelles (FSA, licence SD096) entities with lighter oversight. It suits cost-conscious active traders; it does not accept clients from the US, New Zealand, Japan or Spain.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Fusion Markets
Fusion Markets clients on its Vanuatu (VFSC) or Seychelles (FSA) entity can earn $50 for themselves and $50 for a referred friend when the friend deposits $500 and trades 5 lots, rising to $250 each on a $5,000 deposit. Australian clients of the ASIC entity are not eligible.
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Fusion Markets was founded in January 2019 in Melbourne by Phil Horner and pitches itself on low trading costs. In 2024 it reported about USD 130 billion of monthly volume and clients in more than 160 countries. It works through three entities: FMGP Trading Group Pty Ltd holds ASIC licence AFSL 385620 and serves Australian clients only; Gleneagle Securities Pty Limited is registered in Vanuatu (VFSC, company 40256); and Fusion Markets International Ltd is licensed in the Seychelles (FSA, SD096). Everyone outside Australia is onboarded through one of the two offshore entities, with lighter oversight and leverage up to 500:1 against 30:1 under ASIC.
Fusion does not accept clients from the US, New Zealand, Japan, Spain, Ontario and a list of sanctioned or restricted countries. In February 2026 the Alberta Securities Commission added Fusion to its investment caution list because it is not registered in Alberta, while Fusion's site still accepts Alberta residents.
There are two accounts. Zero has spreads from 0.0 pips plus $2.25 per side per standard lot ($4.50 round trip), and Classic has spreads from 0.9 pips with no commission. There is no minimum deposit, and Fusion charges no deposit or withdrawal fees, though international bank wires can pick up intermediary charges. Platforms include MetaTrader 4 and 5, cTrader and TradingView. Under the Seychelles client agreement, an inactivity fee of up to USD 10 can be charged after 12 months without trades.
Fusion runs no deposit bonus. Its only cash promotion is Refer a Friend, which pays both people once the referred friend's first deposit reaches a tier and the friend trades the matching volume: $50 each for a $500 deposit and 5 standard lots, up to $250 each for $5,000 and 50 lots on the live page. The September 2025 terms list $500 each for that top tier, so the page and the terms disagree; plan on the lower figure.
Only 29 listed forex pairs plus gold and silver count toward the lots, each trade must stay open at least five minutes, and churning is not allowed. The terms say rewards are paid after a 30-day holding period, while the page says they are processed within 24 hours. The page also says rewards are withdrawn from the Refer a Friend tab, yet clause 7.6 of the terms says bonuses cannot be redeemed for cash; confirm with support how the reward reaches your account before counting on it as cash.
Instead of cash, a referrer can choose a commission discount: 5% with five active referrals, rising to 15% with fifteen. You can use only one of the two options at a time.
The program covers clients of the Vanuatu and Seychelles entities only. Australian clients, who are served by the ASIC entity, are excluded under the terms. One claim per household applies, you cannot refer yourself or family members, and introducing brokers are excluded. The program has no end date, but Fusion can withdraw it.
No. Fusion runs no deposit or welcome bonus. Its only cash promotion is Refer a Friend, which pays both people once the friend deposits and trades a set number of lots.
$50 each when the friend deposits $500 and trades 5 standard lots, up to $250 each for a $5,000 deposit and 50 lots on the live page. The September 2025 terms list $500 each for the top tier, so confirm before relying on it.
The terms say after a 30-day holding period; the page says within 24 hours of meeting the trade requirement. Plan for the 30 days.
Not under the current terms, which apply only to clients of the Vanuatu (VFSC) and Seychelles (FSA) entities. Australian clients are served by the ASIC-licensed entity.
Yes, through three entities: FMGP Trading Group (ASIC, AFSL 385620) for Australians, and Gleneagle Securities (VFSC) and Fusion Markets International (Seychelles FSA, SD096) for everyone else. International clients get lighter protection than under ASIC.