Fusion Markets (Fusionmarkets.com) is a catastrophic CFDs, Crypto Currency and Forex scam broker ripping off online investors. FusionMarkets is purporting to offer the lowest trading costs to anyone who signs up. According to their homepage, FUSION MARKETS is aiming at lowering the cost of trading. Complaints have been sent investors who lost huge chunks of money trading with this broker. Read this detailed FUSIONMARKETS review to get the whole truth.
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Fusion Markets is claiming to be different simply because they are trying to lower the cost of trading. This broker is relying on the fact that traders will sign up due to their low trading costs. Is it true FusionMarkets is offering the lowest trading costs? Will signing up with this broker actually be beneficial to traders? Just because a broker is offering low trading costs doesn’t mean they provide high quality. In fact, quality should never be compromised by any broker.
Sadly, Fusion Markets is riding on the fact they offer low trading costs. A disadvantage with this is trading services offered are abysmal to say the least. Customers are complaining right left and center regarding the poor services offered by this broker. A huge problem waiting anyone who signs up is withdrawing funds from this broker. There are other problems with this broker and this detailed and honest FusionMarkets review will expose and highlight.
Gleneagle Asset Management PTY LTD is the company behind this fraudulent broker. Reason why we firmly believe Fusion Markets is a fraud is their anonymous nature. This broker has taken scamming to a whole new level as they are cloning this company to defraud users. Investigators contacted Gleneagle Asset Management PTY LTD regarding FusionMarkets. This company denied any relations with the broker in question.
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This is not the first time professional scam artists have hid behind a trusted securities company. In order to verify their legitimacy, we tried contacting the owners of Fusion Markets. This proved futile as emails and chat representatives did not offer any real information. As it turns out, this broker is anonymous and wants to hide behind a real company. Why have they failed to mention the founders of this brokerage site? FUSION MARKETS is a fraudulent broker platform.
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Scammers will do or say anything to make their products and services appear legit. A good casing point is how this platform has used a legitimate company to feign authenticity. Disclaimer at the footer of the page reads that this broker is licensed with a licensing number 226199. Notice this is a licensing number associated with Gleneagle Asset Management PTY Ltd, not FusionMarkets. Thanks to ASIC, users can know for sure about a broker’s registration.
A reputable regulatory body clearly indicates this broker is not regulated. Anyone who signs up with this broker should know they are in league with an illicit brokerage firm. Why haven’t they applied for a license? They want to defraud investors.
As it turns out, Fusion Markets is offering users a demo account to test how their platform works. A rigged demo account produces insane profit margins and wins almost all trades. Investors will want to open a real account and fall for the set trap after opening an account.
Opening a real account requires real money which these scammers are after. Trading with a real account does not produce results as with the demo account. Turns out these brokers have been in league with other brokers to share the spoils. By the spoils, we mean your hard earned money. These brokers will in most cases give fake signals and fake news to investors for their own gain. Ensure you stay away from this broker as they simply want to take your money.
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According to information given by their chat team, this broker offers two different account types. Users can choose to have a Classic account or ECN account. Classic accounts come with commissions built into the spreads. ECN account is for more experienced traders and also come with commissions. These accounts don’t require a minimum trading deposit which is a red flag for traders. This means Fusion Markets is trying to trap all types of investors.
These accounts have no features set. In fact, users have to ask about these accounts after signing up. Homepage does not offer any news regarding types of accounts. Bottom of the homepage has a products and accounts dashboard which doesn’t work. How does this broker expect users to know which account types suits them best? Unprofessional Forex brokers have never taken time to consider which accounts they offer. Stay away from this broker and sign up with legit brokers.
When it comes to how well your funds are secure, this broker is far from safely securing deposits. Looking at their homepage, they clearly fail to issue relevant details regarding how they safely transfer funds. Where does this broker bank funds deposited by users? Is it possible users are depositing funds straight to owner’s personal bank accounts?
Another problem with security of funds is segregation of accounts which is not offered. This means Fusion Markets is pooling funds in one account which is dangerous to say the least. Bankruptcy or insolvency can occur at any time and funds will be lost since they are in one account. Members of this platform should never expect any compensation from this broker in case of above scenario. FusionMarkets does not participate in a compensatory scheme.
Problem with their MT4 trading platform is being highly unstable. When we tried downloading it to out devices, download stalled at 59%. This means hackers can easily gain access to credit card information using their unstable platform. Ensure you stay away from any broker whose platform is unstable. Security should always be a trader’s first priority when signing up with any broker.
Slow Live Chat Support.
As it turns out, this broker has a slow live chat support response time. Why do they have a slow chat time? Is it possible these scammers are hiding behind this platform. Will chat service be reliable to users? Can this chat service answer questions in a timely manner/ Answer is a big no. Chat service is fake.
Evidence clearly point towards FusionMarkets being a scam. In order to stay safe from this broker, mark all their emails as Spam. Any links sent by their email marketing team should be ignores as hackers use them to steal data. Warn your family and friends regarding this fraudulent Forex broker.
What we must do is add this broker to our blacklist. This will hopefully prompt relevant authorities to investigate and shut down their operation. Anyone who signs up after reading this review should not complain of the harsh reality of things.
Industry experts and professional brokers are known to be reliable at all times. Signing up with brokers who are tested and trusted by the trading community is the way forward. Make sure to sign up with Secure and Solid Forex brokers at all times.
Lastly, we wish all investors and traders a safe Forex trading experience.
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