Is Fusion Markets Legit or Scam?
Fusion Markets is not a scam. It is a licensed and regulated broker under the Australian Securities and Investments Commission (ASIC), a reputable financial watchdog. This regulatory oversight ensures Fusion Markets adheres to strict financial and ethical standards, including:
- Maintaining minimum operational capital: This protects client funds in case the company faces financial difficulties.
- Offering negative balance protection: This safeguards traders from losing more than their deposited funds.
- Segregating client funds: Client money is kept separate from the company’s operational funds, further protecting it from misuse.
However, it’s crucial to remember that no online trading platform is completely risk-free. Responsible trading practices and thorough research are always essential.
Company Overview
Feature | Details |
Company Name | Gleneagle Asset Management Pty Limited |
Founded | Not publicly available |
Headquarters | Sydney, Australia |
Regulation | ASIC (Australian Securities and Investments Commission) |
Services or Products
Fusion Markets offers a wide range of trading instruments, including:
- Forex: 42 currency pairs, including major, minor, and exotic pairs.
- Commodities: Gold, silver, platinum, palladium, and oil.
- Indices: 10 major global stock market indices.
- Cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
If you have lost money to companies like Bitmex, or Tixee; please report it to us on our report a scam form.
Trading Platform & Leverages
Fusion Markets utilizes the industry-standard MetaTrader4 platform, known for its user-friendly interface, advanced charting tools, and wide range of indicators and trading bots.
Leverage, which allows traders to control a larger position with a smaller deposit, is offered at a high level of up to 1:500. However, it’s important to remember that using high leverage carries significant risk and is not suitable for all traders.
Spreads and Cost of Trading
Fusion Markets offers competitive spreads with the EURUSD pair typically ranging between 0.1 and 0.3 pips. Additionally, a commission of $4.5 per round lot is charged.
License and Regulations
Fusion Markets is regulated by the Australian Securities and Investments Commission (ASIC), a Tier 1 regulator known for its strict oversight and commitment to investor protection. This regulation offers several benefits to traders, including:
- Segregated client funds: Client funds are kept separate from the broker’s funds, minimizing the risk of loss in case of company insolvency.
- Negative balance protection: This feature prevents your account balance from going below zero, even in volatile market conditions.
- Regular reporting and audits: ASIC requires brokers to undergo regular audits and submit financial reports, ensuring transparency and accountability.
Legal Warning Against Fusion Markets
It’s important to note that this review is based on publicly available information and does not constitute financial advice. You should always conduct your own research and due diligence before making any investment decisions.
Deposit and Withdrawal Methods
Fusion Markets accepts deposits and withdrawals through:
- Credit/debit cards (Visa, Mastercard)
- Bank wire transfers
Currently, e-wallets like Neteller, Skrill, and PayPal are not supported. Additionally, there is no information available regarding the minimum deposit amount.
Fusion Markets Pros and Cons
Pros | Cons |
Regulated by ASIC | Limited payment methods (no e-wallets) |
Competitive spreads | Unspecified minimum deposit |
High leverage (up to 1:500) | MetaTrader4 only (no MT5) |
MetaTrader4 platform | No crypto deposits |
Wide range of trading instruments | Â |
Why Dealing With An Unlicensed Broker Is Risky
Trading with an unlicensed broker exposes you to significant risks, including:
- Loss of funds: Unlicensed brokers may not be required to segregate client funds, increasing the risk of losing your money if the company goes bankrupt.
- Unfair trading practices: Unregulated brokers may engage in manipulative practices like price manipulation or order execution delays.
- Limited recourse: If you encounter issues with an unlicensed broker, you may have limited legal options to recover your losses.
Client Feedback
Client feedback on Fusion Markets is generally positive, with many users praising their competitive spreads, user-friendly platform, and high leverage. However, some users have expressed frustration with the lack of e-wallet support and limited payment options.
How Can “ReviewsAdvice” Help You If You Get Scammed?
Unfortunately, if you get scammed by a broker, “ReviewsAdvice” cannot directly help you recover your lost funds. However, we can provide resources and information to help you report the scam to the relevant authorities and protect yourself from future scams.
We will provide you recovery service recommendations, which will help you in recovering the lost funds or you can report to us today by the below form.
Get Your Money Back from Scammers.
Final Thought
Fusion Markets appears to be a legitimate and reliable broker with a strong regulatory standing and competitive trading conditions. However, it’s crucial to remember that any trading involves risk, and you should always conduct your own research and understand the risks involved before committing any funds. Additionally, consider the limitations in payment methods and the lack of certain features before making a final decision.
