Fusion Markets

The ASIC licence of FMGP Trading Group Pty Ltd and the CySEC licence of Fusion Markets EU Ltd were confirmed on the regulators’ registers, and the Seychelles and Vanuatu companies appear on their regulators’ lists. Clients outside Australia and the EU are served by the two offshore companies.

• StrengthFMGP Trading Group Pty Ltd has held AFSL 385620 since 5 January 2011, with authority to issue and make a market in derivatives and foreign exchange contracts for retail and wholesale clients. Fusion Markets states that it is the trading entity for Australian clients only.
• StrengthFusion Markets EU Ltd has held CySEC licence 444/24 since 29 April 2024; the register lists www.fusionmarkets.com/eu as its approved domain. It is authorised to receive, transmit and execute client orders, not to deal on its own account.
• MediumClients outside Australia and the EU are offered accounts with Fusion Markets International Ltd, listed by the FSA Seychelles as a securities dealer, and with Gleneagle Securities Pty Limited, listed by Vanuatu’s VFSC as an active financial dealer (company 40256). Both are outside the main retail protection regimes.
• ObservationFusion Markets’ Seychelles client services agreement of 18 December 2025 gives licence number SD096 on its cover but states in its body that the company is regulated by the FSA “under the license number [TO BE ADDED]”. The FSA list does not show licence numbers and gives the company’s office as Office 4C, CT House, while the firm’s documents give Office 9A.
• ObservationThe Vanuatu product disclosure statement sets default leverage at 1:100, which clients may ask to raise to 1:500. This is lawful in the jurisdiction concerned, so under our methodology it is recorded but not scored.

The group is privately held and does not disclose its owners or publish accounts. Its contracting companies are identifiable on regulators’ registers and in GLEIF, and Fusion Markets names Phil Horner as its founder and chief executive; he is also a non-executive director of the Cyprus company.

• ObservationGLEIF records for FMGP Trading Group Pty Ltd and Gleneagle Securities Pty Limited report that their parent does not prepare consolidated accounts and do not name it; the record for Fusion Markets EU Ltd states that it is owned by natural persons. Fusion Markets EU Ltd publishes a Pillar 3 disclosure report for 2025 that does not name its shareholders. No audited accounts for any group company were found in public sources.
• ObservationFusion Markets does not explain how its Australian, Cyprus, Seychelles and Vanuatu companies are related, or how international clients are allocated between the two offshore companies.

Fusion Markets EU Ltd states that it is a member of CySEC’s Investor Compensation Fund and that its clients cannot lose more than their investment. No compensation scheme applies to clients of the Australian, Seychelles or Vanuatu companies; for the offshore companies negative balance protection is discretionary, and the Seychelles agreement makes clients liable for any deficit.

• StrengthFusion Markets EU Ltd’s client agreement (March 2025) states that it is a member of the Investor Compensation Fund, keeps client money segregated from its own money and operates on a negative balance protection basis.
• StrengthThe Vanuatu product disclosure statement states that client money paid into the Fusion Markets trust account is held in trust and segregated from the company’s own funds, combined with other clients’ money in one account.
• MediumThe Seychelles client services agreement allows client money to be passed to exchanges, clearing houses or intermediate brokers that may hold it in omnibus accounts, states that the company is not liable for their solvency, and states that the client will be liable for any resulting deficit.
• MediumFusion Markets’ negative balance protection policy for the Vanuatu and Seychelles companies (effective 23 July 2026) describes protection as a discretionary waiver offered at the company’s sole discretion to eligible clients. No compensation scheme applies to clients of either company.

Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.

No public enforcement action against a Fusion Markets company was found in the last eight years in the sources we searched. The Reserve Bank of India’s Alert List names Fusion Markets, which under our methodology is recorded but not scored.

• ObservationNo proceedings were found at the Ontario Capital Markets Tribunal, in the Brazilian CVM’s sanctions case data or site, in CySEC’s board decisions or in the FSA Seychelles enforcement pages under the names Fusion Markets, Fusion Markets EU, FMGP Trading Group or Gleneagle Securities. ASIC did not name either company among the issuers that self-reported leverage breaches in 2023.
• ObservationThe Reserve Bank of India’s Alert List (updated 19 November 2025) names Fusion Markets among entities not authorised to deal in forex in India. Such lists name many licensed groups and are not scored.

Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.

No Great Place to Work certification was found. Fusion Markets announced in June 2026 a partnership with Our Village Australia, a Victorian children’s charity, matching donations to its Winter Appeal up to A$25,000.

• ObservationNo Great Place to Work certification was found in public sources.
• ObservationThe Our Village partnership is reported in Fusion Markets’ own press release of 16 June 2026; we found no independent reporting.