My experience with Fusion Markets (screenshots included)

Why Fusion Markets?

Well, I decided to open a trading account with Fusion because they are tier-1 regulated (ASIC), they are supposed to have a low minimum deposit, and they also have TradingView plus cTrader.

For me, I like to use raw spread account types where spread is low but I pay a commission on every trade.

Fusion Markets website said they have raw spread averaging 0.04 using the EUR/USD as benchmark.

Now I am going to find out if this is true.

Registration & Profile Setup

I have been able to register and create a user profile and the process took me about 5 minutes. But I still need to verify my identity by uploading docs for the account to be activated for live trading, Let's see how long its going to take me to do that.

Account Setup

Fusion Market account types are tied to the trading platforms. The TradingView & cTrader platforms can only work with the Zero Spread Account.

But if you opt for the MetaTrader platform, you can use either classic or zero spread account. But for me, I go with the TradingView account with raw spread pricing.

Account Currency

I noticed Fusion Market does not offer African account currencies so I guess I will have to make do with the USD as my account currency. I would have preferred they have African base currencies though.

Identity verification

I opted to verify my identity using my drivers license. I like that you can just drag and drop the files it makes it so much easier

Okay, I have submitted my photo ID and my Bank Statement. Now I await the activation of my account for live trading.

One thing I was disappointed about was that Fusion Markets does not have Non-document Verification. When I opened by FxPro and FBS accounts, the brokers had this non-doc verification where I just submit the document number only and they use it to verify.

PS: they keep prompting me to setup 2FA but its just a pain in the ass. From my experience with other brokers, the 2FA code always comes late and this can lock you out of your trading system.

Apart from (ASIC) do they have other regulations?

TradingView Connection Was Kind of Tricky

To connect Fusion Markets to TradingView, you need to change password. So I went to my dashboard and clicked on the three dots beside my account and selected "edit account details". I changed the password, and used the new one to connect to TradingView.

Note when connecting to TradingView your username is your account number then you enter your new password

Application Declined

After about 1 hour, Fusion Markets sent me a notice about their inability to verify my address. I will now try to upload another govt issued ID that carries my current address.

This is why I like brokers with Non-doc verification, it eliminates all these hassles. Its really taking a while for Fusion Markets to verify my documents, not good at all.

⚠️Fusion Markets Does Not Support Local Payment Methods for Nigeria

Another turn-off, they don't accept local payment methods such as Nigerian bank transfer. The closest thing is Visa card and from experience card deposits/withdrawals can be problematic.

⚠️ I still have not been able to verify my account as they kept rejecting my ID card.

Has the account been verified yet?

Not yet, they rejected my DL and Nat ID card and are asking for another ID which I dont have so I guess I will have to abandon the process

Try Fundednext, they will accept your Nat ID card or driver's license, etc