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Fusion Markets in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%85
- Round-turn cost20%100
- Safety20%10
- Payouts15%99.2
- Track record10%35
- Platforms10%70
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Indian retail clients are onboarded under the offshore arms Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA), not a local entity.
- Founded
- 2019
- Retail leverage
- 500IN
- Round turn
- 4.5 USDIN
- Currencies
- No INR base-currency account; accounts in USD, AUD, EUR, GBP, JPY, CHF, CAD, NZD, SGD, HKD, so rupee deposits incur conversion.
- Swap-free account
- yes
Licence check
Open an account with Fusion MarketsThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- Indian retail clients are onboarded under the offshore arms Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA), not a local entity.
- Local standing
- Offshore (VFSC/Seychelles) for Indian clients; no SEBI authorisation; retail FX/CFD trading in non-INR pairs via offshore brokers sits in a legal grey area under RBI/FEMA rules.
- Licence as the register states it
- Served under Vanuatu VFSC reg. 40256 and Seychelles FSA licence SD096; Fusion Markets holds no SEBI registration in India.
- Leverage for this entity
- Up to 1:500 on FX majors and metals, 1:100 indices/energies, 1:20 crypto CFDs; not capped by a local Indian regulator.
- The firm behind it
- Founded 2017 in Australia (HQ Melbourne); low-cost raw-spread/ECN forex and CFD broker.
- What we hold against it
- Not verified on a SEBI/RBI alert list, but SEBI/RBI do not authorise offshore CFD brokers - regulatory grey area for Indian residents.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (VFSC/Seychelles) for Indian clients; no SEBI authorisation; retail FX/CFD trading in non-INR pairs via offshore brokers sits in a legal grey area under RBI/FEMA rules.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Zero account (raw spreads from 0.0 pips + AUD 4.50/side commission), Classic account (all-in spreads, no commission), no minimum deposit. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Fusion Markets sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 4.5 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 0 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:500 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (8 methods · 1 local)
Bank wire, Visa/Mastercard, Skrill, Neteller, PayPal and crypto (BTC/USDT);
- Bank wire
- Visa
- Mastercard
- Skrill
- Neteller
- PayPal
- Crypto
- No verified UPIlocal
- Account currency
- No INR base-currency account; accounts in USD, AUD, EUR, GBP, JPY, CHF, CAD, NZD, SGD, HKD, so rupee deposits incur conversion.
- Fee declared
- 8 of 8 methods
- Withdrawal back to
- the funding method
Where it does not serve(18 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(6 platforms)
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
| Class | Count | Min spread |
|---|---|---|
| MetaTrader 4 | — | 0.9 |
| MetaTrader 5 | — | 0.9 |
| cTrader | — | 0.9 |
| TradingView | — | 0.9 |
| Forex pairs | 90+ | — |
| Shares | 100+ | — |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Identical for every row: Leverage 500 IN.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.7 | 4,909 |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(6 for and 2 against, each tied to a figure on this page)
- Round turn 4.5 USD on the raw + commission basis, under the India median 7
- Min deposit 0 USD, under the India median 15
- Withdrawal in 1 h, one of 74 of 90 brokers here that publish a time
- Swap-free account available
- Round-turn cost 100 of 100, its strongest of 6 scored axes
- 4 platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- Safety 10 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 6IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 500IN
- Rank in this country
- #15
- Round turn, USD
- 4IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 2000IN
- Rank in this country
- #48
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 3000IN
- Rank in this country
- #11
- Round turn, USD
- 5.5IN
- Min deposit, USD
- 10IN
- Leverage
- 1000IN
- Rank in this country
- #39
- Round turn, USD
- 6IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #42
- Round turn, USD
- 4IN
- Rank in this country
- #4
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | Fusion Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 85 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 10 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 99 |
| Track record | 10% | Years since the firm was founded, from its own filings | 35 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 70 |
FAQ
- Does Fusion Markets accept residents of India?
- No. Offshore (VFSC/Seychelles) for Indian clients; no SEBI authorisation; retail FX/CFD trading in non-INR pairs via offshore brokers sits in a legal grey area under RBI/FEMA rules. Onboarding entity: Indian retail clients are onboarded under the offshore arms Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA), not a local entity.
- Is Fusion Markets licensed to serve clients in India?
- Served under Vanuatu VFSC reg. 40256 and Seychelles FSA licence SD096; Fusion Markets holds no SEBI registration in India. Checked on 09.07.2026.
- How much does one round turn cost at Fusion Markets?
- About 4.5 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does Fusion Markets offer to retail clients in India?
- Up to 1:500. Up to 1:500 on FX majors and metals, 1:100 indices/energies, 1:20 crypto CFDs; not capped by a local Indian regulator.
- Which trading platforms does Fusion Markets support?
- MetaTrader 4, MetaTrader 5, cTrader, TradingView. Instruments: 250+ instruments: 90+ forex pairs, metals, commodities, indices, share CFDs and crypto CFDs.
- How can I withdraw money from Fusion Markets in India?
- Bank wire, Visa/Mastercard, Skrill, Neteller, PayPal and crypto (BTC/USDT); no verified UPI/local INR rail at review.
- What account types does Fusion Markets offer?
- Zero account (raw spreads from 0.0 pips + AUD 4.50/side commission) and Classic account (all-in spreads, no commission); no minimum deposit.
- Does Fusion Markets offer a swap-free (Islamic) account?
- Yes. Fusion Markets offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.