IC Markets vs Fusion Markets

IC Markets is the better all-round broker for most serious traders, while Fusion Markets is the better choice if your main priority is paying the lowest possible commission on a standard raw-spread forex account.

Fusion Markets charges $2.25 per side, or $4.50 round turn per standard lot, on its Zero Account. IC Markets charges $3.50 per side, or $7 round turn, on its standard MetaTrader Raw Spread account. However, IC Markets has a substantially larger overall instrument range, broader regulatory coverage across its group entities and more developed infrastructure for active and algorithmic traders.

For traders choosing purely on current forex transaction costs, Fusion Markets wins. For traders choosing a broker as a broader long-term trading platform, IC Markets wins overall.

IC Markets vs Fusion Markets at a glance

Broker conditions can differ by country and the legal entity that accepts your account, particularly for leverage, investor protections, minimum funding and available products. Check the entity shown in your account agreement rather than assuming every IC Markets or Fusion Markets customer receives identical conditions.

Which is cheaper, IC Markets or Fusion Markets?

The Fusion Markets Zero Account charges $2.25 per standard lot per side, producing a $4.50 round-turn commission. The standard IC Markets MetaTrader Raw Spread account charges $3.50 per lot per side, producing a $7 round-turn commission. Both advertise raw spreads starting from 0.0 pips.

That $2.50 difference becomes meaningful once trading volume increases.

At 100 standard lots round turn per month, Fusion Markets charges $450 in listed forex commissions versus $700 at IC Markets. That is a $250 monthly commission difference, before spreads, swaps, slippage and any account-specific rebates.

At 500 standard lots, the same calculation produces $2,250 at Fusion Markets versus $3,500 at IC Markets, a $1,250 difference.

This does not mean Fusion Markets will always produce a lower realised trading cost. Actual cost also depends on the spread available when the order executes, slippage, overnight financing and the instrument being traded. But when comparing the published commission schedule on equivalent raw MetaTrader accounts, Fusion Markets has the clear price advantage.

IC Markets has lower-cost Raw Pro accounts coming

There is an important 2026 wrinkle that many broker comparisons miss.

IC Markets is currently advertising Raw Pro and Raw Pro+ MetaTrader accounts with commissions of $1.50 and $1.00 per lot per side respectively. That would equal $3 and $2 round turn, potentially making IC Markets cheaper than Fusion Markets.

However, IC Markets currently labels these accounts as early access and says traders can switch when the accounts are ready. They should therefore not be treated as generally available pricing when making a current IC Markets vs Fusion Markets comparison.

Until those account types are actually available to the relevant customer, Fusion Markets wins the standard raw-account pricing comparison.

Which broker has better spreads?

IC Markets states that its average EUR/USD Raw Spread is around 0.1 pips. Fusion Markets advertises EUR/USD spreads from 0.0 pips and publishes live and historical spread information through its trading tools.

Minimum spread figures should not be confused with average trading cost. A broker displaying “0.0 pips” does not mean every EUR/USD trade will execute at a zero spread.

For high-frequency traders, the useful metric is:

realised spread + commission + slippage + financing costs

That is more meaningful than comparing two identical “spreads from 0.0” marketing claims.

Is IC Markets or Fusion Markets better regulated?

International Capital Markets Pty Ltd is regulated in Australia by the Australian Securities and Investments Commission under AFSL 335692. IC Markets (EU) Ltd is regulated by the Cyprus Securities and Exchange Commission under licence 362/18. IC Markets Global operates through Raw Trading Ltd, regulated by the Seychelles Financial Services Authority under licence SD018.

Fusion Markets also has legitimate regulatory coverage. Australian clients are served through an ASIC-regulated entity under AFSL 385620, while Fusion Markets also operates entities regulated by the Seychelles Financial Services Authority and the Vanuatu Financial Services Commission.

The practical difference is regulatory breadth rather than “regulated versus unregulated”.

IC Markets has a particularly meaningful advantage for eligible European traders because it operates a CySEC-regulated EU investment firm. Fusion Markets does not currently show an equivalent EU investment-firm licence in its published regulatory structure.

That does not automatically make every IC Markets account safer than every Fusion Markets account. An account opened under an offshore entity can have materially different protections from one opened under ASIC or CySEC.

Always check the company name and regulator on the actual client agreement before depositing money.

IC Markets vs Fusion Markets for MetaTrader, cTrader and TradingView

This matters because several older comparisons still describe TradingView as a Fusion Markets advantage. That information is outdated.

IC Markets currently allows TradingView trading through its cTrader-connected offering, while Fusion Markets also integrates TradingView with the cTrader backend.

MetaTrader remains the logical choice for traders running MQL4 or MQL5 Expert Advisors. cTrader is attractive for traders who prefer its interface, depth-of-market functionality and C# automation environment. TradingView is useful for traders whose workflow centres on its charts, indicators and Pine Script ecosystem.

Platform availability therefore should not decide the IC Markets vs Fusion Markets comparison unless a particular account type or instrument is unavailable on your preferred platform.

Which broker is better for scalping and algorithmic trading?

IC Markets explicitly positions its Raw Spread infrastructure around active traders, Expert Advisors and scalpers. The broker states that its MetaTrader servers are located in the Equinix NY4 data centre and advertises average execution speeds below 40 milliseconds on its international offering. Its cTrader infrastructure uses the Equinix LD5 data centre in London.

Fusion Markets also targets EAs and active traders and offers raw pricing across MetaTrader and cTrader. Its lower $4.50 round-turn forex commission can become commercially significant for systems generating substantial volume.

So the decision depends on where your strategy actually makes or loses money.

A latency-sensitive algorithm may place more weight on server location, execution quality and slippage. A high-turnover strategy that is less latency-sensitive may benefit more from Fusion Markets' lower commission.

The correct comparison for an automated strategy is not the broker's homepage. Run the same EA or strategy on comparable demo or small live accounts and measure realised spreads, fills, slippage and total cost.

Which has more markets to trade?

Current IC Markets pages advertise more than 2,250 tradable CFD products across forex, commodities, shares, cryptocurrencies, indices and bonds. Its Australian Raw Spread account specification lists 61 currency pairs.

Fusion Markets advertises more than 250 products overall and more than 90 currency pairs. Its range also includes metals, indices, commodities, cryptocurrencies and US share CFDs.

That creates an unusual split.

If you mainly trade currencies, Fusion Markets may actually offer the more interesting FX catalogue.

If you want one CFD broker for a much wider universe of shares and other markets, IC Markets is substantially broader.

Which broker is better for small accounts?

Fusion Markets explicitly states that there is no minimum account size, although individual funding methods can still have transaction minimums.

Be careful with claims that IC Markets universally requires a $200 minimum deposit.

The current IC Markets Australian account page lists a $200 starting deposit, but IC's international account pages currently show $0 minimum deposit for the standard Raw Spread account. The correct figure therefore depends on which IC Markets entity and account are available to you.

Fusion Markets still wins on simplicity because “no minimum account size” is an explicit part of its current offer.

A lower minimum deposit should not be mistaken for lower trading risk. Leverage can cause a small account to lose money very quickly.

What about leverage?

For example, Fusion Markets states that clients under its VFSC and Seychelles FSA entities can receive up to 500:1 leverage on forex and metals, subject to account equity and other conditions.

IC Markets also offers materially different leverage under different entities and account configurations. Australian and European retail accounts are subject to much lower regulatory limits than certain international accounts.

Higher leverage is not inherently a better broker feature. It increases both capital efficiency and the speed at which losses can accumulate.

IC Markets or Fusion Markets for forex trading?

The Zero Account's $4.50 round-turn commission is materially below the $7 round-turn commission on IC Markets' generally available MetaTrader Raw Spread account, while Fusion Markets also advertises more than 90 currency pairs.

IC Markets becomes more attractive if your priorities extend beyond commission. Its broader regulatory structure, larger total market range, published trading infrastructure and mature ecosystem make it the stronger all-round platform.

The choice is therefore less complicated than most broker comparisons make it:

Choose Fusion Markets when trading cost is the deciding variable. Choose IC Markets when the overall trading environment is the deciding variable.

Is IC Markets better than Fusion Markets for beginners?

Fusion Markets has the easier proposition for a small new account because there is no minimum account size and its Classic Account packages trading costs into the spread rather than charging a separate commission.

IC Markets' Standard Account works in a similar way and starts from a lower advertised spread of 0.8 pips versus 0.9 pips on the Fusion Markets Classic Account.

However, neither broker should be selected simply because leveraged CFD trading is easy to access. Beginners should understand margin, liquidation risk, spreads, commissions and overnight financing before moving from a demo account to live capital.

Is Fusion Markets cheaper than IC Markets?

Fusion Markets charges $4.50 round turn per standard lot on the Zero Account compared with $7 on the IC Markets MetaTrader Raw Spread account.

IC Markets has announced lower-cost Raw Pro accounts, but those accounts are currently advertised as early access rather than generally available.

Can you use TradingView with both IC Markets and Fusion Markets?

Both integrations use cTrader infrastructure behind the TradingView connection, so TradingView is no longer a meaningful differentiator between these brokers.

Final verdict: IC Markets or Fusion Markets?

IC Markets is the better fit if you want a larger multi-asset range, broader regulatory footprint, established infrastructure for scalping and automated trading, or access through an EU-regulated entity where eligible.

Fusion Markets is the better fit if you primarily trade forex, want to minimise commissions or want an account without a fixed minimum account size.

For a trader doing meaningful monthly FX volume, the commission advantage at Fusion Markets is real enough that it should not be dismissed. For a trader who values the broker's entire ecosystem rather than one cost line, IC Markets provides the stronger overall package.

Our pick: IC Markets for the best all-round offering. Fusion Markets for the lowest-cost forex setup.

Trading forex and CFDs involves substantial risk, particularly when leverage is used. Broker availability, leverage limits, product ranges and investor protections vary by jurisdiction and legal entity. Verify the terms applying to your own account before depositing funds.