Saxo Bank vs Fusion Markets - Fees Review included
Which broker is better Saxo Bank or Fusion Markets? Our expert assessment conducted according to TU’s own methodology showed that Saxo Bank is one of the top brokers in the financial market with the TU Overall Score of 7.04 out of 10. Fusion Markets is one of the top brokers in the financial market with the TU Overall Score of 6.18 out of 10. Find out more about TU Overall Score.
Feature | Saxo Bank | Fusion Markets |
---|---|---|
Overall |
4.5 |
4.3 |
4.8 |
4.2 |
|
4.6 |
4.8 |
|
5 |
3.6 |
|
Investment Instruments |
4.2 |
4.9 |
Platforms and Charting Tools |
4.6 |
4.4 |
Deposit and Withdrawal |
4.0 |
4.6 |
Research |
5 |
3.8 |
Education |
3.6 |
3.5 |
Support |
4.4 |
4.3 |
Bonuses |
3.6 |
3.1 |
|
|
Saxo Bank vs Fusion Markets: Pros and Cons
The SaxoBank brokerage company was founded in 1992 under the original name Midas. In 2001, the broker was licensed by the FSA, a Danish Financial Supervisory Authority. After that, the company changed its name to SaxoBank. Today the broker provides online access to various financial markets to clients from 170 countries. The broker's divisions also have licenses from FCA (UK), ASIC (Australia), and licenses from other regulators.
Fusion Markets is a young broker from Australia. It was created in November 2017 and began to provide full services in 2019. The company offers to trade in currency pairs and CFDs. Headquartered in Cremorne, Melbourne, Australia, the broker is regulated by ASIC (Australian Securities and Investment Commission) and VFSC (Vanuatu Financial Services Commission).
Saxo Bank | Fusion Markets | |
---|---|---|
Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | Low trading fees |
over 71 thousand instruments for trading | Fast registration and convenient trader's office | |
the opportunity to invest in ready-to-use long-term portfolios managed by professionals | Several copy trading and MAM services | |
Advanced ECN account | ||
no minimum account size | ||
No fees for US Shares CFDs trading | ||
Overall Cons | Cent accounts are not available | Limited number of supported assets |
a ban on algorithmic trading for traders from abroad | lack of educational content | |
you cannot contact support in the online chat on the company's website (The chat is available only after full registration on the broker’s website and passing KYC). | Not able in New Zealand, Russia, Ukraine, United States or its territories. | |
Not regulated in EU and UK |
Saxo Bank vs Fusion Markets: Safety and Regulation
Regulated By: | Saxo Bank | Fusion Markets |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
DFSA (Denmark) , and other European regulators |
Vanuatu company (Company Number 40256) and is regulated by the VFSC |
Saxo Bank vs Fusion Markets: Trading Conditions
Trading Conditions | Saxo Bank | Fusion Markets |
---|---|---|
Minimum Deposit |
$0 |
$1 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
МТ4 (desktop, mobile, web), МТ5 (desktop, mobile), WebTrader |
Max Leverage (Futures) |
1-30 |
1-30, 1-500 (just for Vanuatu regulated entity) |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
|
Trading assets |
71000+ |
200+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Demo, Classic, Zero |
Base Account Currencies |
USD, EUR |
AUD, USD, EUR, GBP, JPY, CAD, SGD, THB |
Saxo Bank vs Fusion Markets: Fees
Forex Trading Fees
Fee | Saxo Bank | Fusion Markets |
---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
0.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
$2.25 per lot |
ECN Account EUR Average Spread |
Not supported |
0.2 pips |
CFD Trading Fees
Fee | Saxo Bank | Fusion Markets |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | Saxo Bank | Fusion Markets |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Saxo Bank vs Fusion Markets: Trading Assets
Asset Name | Saxo Bank | Fusion Markets |
---|---|---|
Overall |
71000+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
Yes |
No |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Saxo Bank or Fusion Markets: Investment Programs
Asset Name | Saxo Bank | Fusion Markets |
---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: Fusion Markets or Saxo Bank
Saxo Bank | Fusion Markets | |
---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
no |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
No |
Others |
No |
No |
|
|
Saxo Bank vs Fusion Markets: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | Saxo Bank | Fusion Markets |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes (not available for all countries) |
Crypto |
No |
No |
Saxo Bank vs Fusion Markets: Research
Research Type | Saxo Bank | Fusion Markets |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
Saxo Bank vs Fusion Markets: Education
Education Type | Saxo Bank | Fusion Markets |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
Fusion Markets vs Saxo Bank: Support
Support Features | Saxo Bank | Fusion Markets |
---|---|---|
Working Days |
24/5 |
24/5 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Saxo Bank vs Fusion Markets: Forex Bonuses and Promo
Promo | Saxo Bank | Fusion Markets |
---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
“Member gets member” represents a remuneration accrual for attracting new clients who have replenished a trading deposit at least once. When replenishing from $10,000, the partner gets $500; from $200,000 - $1,000; from $1,000,000 - $3,000 |
Invite a friend affiliate program. As soon as your friend registers and starts trading, the broker will deposit $50 to the account of each member of the affiliate program which includes the referral and the partner who attracted him. Fusion Affiliates program - will be interesting for trading sites, popular Youtube channels, bloggers, arbitrageurs, email marketers, media, as well as those who have a lot of subscribers in social networks. |
Other Promos |
Accrual of points for account replenishment and qualified transactions. Once you have collected enough points, you will be promoted to a higher account level, allowing you to improve your trading conditions. |
"Bring a friend" bonus, according to the rules. For an attracted active referral, you can get either a bonus on the account or benefits on commissions. Check with the support team for the most current details. |
|
|
Top 5 Reviews on Fusion Markets
-
Comment
Fusion Markets is reliable. Neither I nor my fellow traders have had any problems with it. Fusion Markets withdraws client profits without delays and is not engaged in fraud. They also noted that the company does not pursue any illegal or hidden goals. Thus, you can trade with confidence on the Fusion Markets platform.
-
Comment
I started trading on the Forex Markets through Fusion Markets. Traders I know told me that this company was transparent and there were no hidden problems. I started with a small trading account and then increased it. Now I have been trading with Fusion Markets for five years; I am happy with everything here.
-
Comment
Fusion Market offers seamless depositing, withdrawal, and transfer between accounts. All operations are carried out promptly and clearly. You can choose a company with various regulators and trading conditions. Spreads are at an acceptable level, though they may widen. The customer support is excellent, quickly responding to all inquiries. Currently, I continue my collaboration with Fusion Market.
-
Comment
I have been using the services of the Fusion Market broker for a year and a half now and it fully matches my trading strategy. Although I can’t say that everything is going smoothly, the conditions are good: moderate spreads and swaps. I have already withdrawn money three times and each time it happened without any problems. Therefore, my feedback is positive.
-
Comment
FusionMarkets broker is excellent. I liked working with this company. There were delays in processing withdrawals, however, a couple of times. I have several cards open for brokerage. The analytics are good, I constantly additionally browse on German business platforms. I just started working because I was laid off, but I saw a lot of interesting options. I like to work for myself at home. And the level is quite high. I believe that there are a lot of opportunities on the FusionMarkets website for beginners and professionals
Top 5 Reviews on Saxo Bank
-
Comment
Saxo Bank is well-known due to its technological solutions for online trading. So I decided to try it. Its SaxoTraderGO platform offers a wide range of features, including charts and analytical instruments, fast order execution, and access to real-time market data. However, SaxoTradePRO was too complicated for me. The broker offers a wide range of financial instruments. And you can use one platform to work on global stock exchanges and to trade CFDs and Forex. The minimum fee for trading stocks is $1.
-
Comment
Saxo Bank is well-known due to its technological solutions for online trading. So I decided to try it. Its SaxoTraderGO platform offers a wide range of features, including charts and analytical instruments, fast order execution, and access to real-time market data. However, SaxoTradePRO was too complicated for me. The broker offers a wide range of financial instruments. And you can use one platform to work on global stock exchanges and to trade CFDs and Forex. The minimum fee for trading stocks is $1.
-
Comment
Saxo Bank provides a personalized approach to client services and offers a wide range of financial services that include asset management and consulting. Moreover, it provides high-quality educational materials and market research that help me make informed investment decisions. I participated in webinars several times and also listened to podcasts with Saxo Bank experts. I use SaxoTraderGO for trading and SaxoInvestor for long-term investment.
-
Comment
Saxo Bank is a broker with favorable conditions, offering over forty thousand trading instruments, ready-made portfolios, and a professional platform. However, for novice traders, the conditions of this broker may be challenging. Saxo Bank requires a high initial deposit, floating spreads, commissions depending on trading volumes, and maximum leverage up to 1:40. I think this broker is more suitable for experienced traders.
-
Comment
Being a licensed bank and broker, Saxo Bank complies with strict security and regulation standards. These include client data protection, transaction transparency, and compliance with financial rules. Money is transferred without delays or additional expenses, except for bank fees. Support in a live chat of the trading platform is prompt, and chat operators respond within 5 minutes. Personal consultations are available. Saxo Bank provides direct access to markets, therefore orders are always executed promptly.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.