Two brokers duel on cost, platforms, and instrument breadth. Fusion Markets offers low ECN commissions and no minimum deposit, while TMGM provides DMA access and a broader asset pool.
Fusion Markets is the overall winner, as it posts a higher editorial score and lower ECN commissions with a $0 minimum deposit.
Find out which broker best suits your trader profile.
Choose Fusion Markets if…
Choose Fusion Markets for ultra-low ECN commissions and a $0 minimum deposit.
Choose TMGM if…
Choose TMGM for 24/5 live chat and phone support, plus 12,000+ instruments and advanced charting.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Both brokers offer spreads from 0.00 pips.
| Editorial score | 4.2/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.2 / 5 | 4.3 / 5▲ |
Pros
Among the lowest ECN commissions globally at $4.50/lot round-turn
No minimum deposit and no inactivity fee
Supports MT4, MT5, and cTrader
ASIC regulated with strong Australian broker infrastructure
ETF CFDs available at the same ultra-low commission rate
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | Fusion Markets | TMGM |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Fail |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Fail | Pass |
| Phone support | Fail | Pass |
| Multilingual support | Fail | Pass |
The scores are close: Fusion Markets rates 4.2/5 and TMGM rates 4/5. Fusion Markets has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Both Fusion Markets and TMGM start from 0 pips, making them equivalent on this metric. Compare commissions and account types to evaluate total trading costs.
Fusion Markets has no minimum deposit, while TMGM requires at least $100. This makes Fusion Markets more accessible for traders with limited starting capital.
Both Fusion Markets and TMGM hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: Fusion Markets has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
Fusion Markets lists maximum leverage of 500:1, while TMGM lists up to 500:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Fusion Markets charges $4.5 per lot, lower than TMGM's $7 per lot. Lower commissions benefit active traders who execute many trades per day.
Fusion Markets supports cTrader, MetaTrader 5, MetaTrader 4, while TMGM supports IRESS, MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4. Fusion Markets has exclusive access to cTrader. TMGM has exclusive access to IRESS.
Equally matched; both hold client funds in segregated accounts and are regulated by ASIC.
TMGM wins for active traders with 12,000+ instruments and DMA access.
Fusion Markets is better suited for scalpers: lower commission ($4.5/lot).
TMGM wins for platform choice, offering MT4/MT5 and IRESS DMA.
Fusion Markets wins for beginners with a $0 minimum deposit.
Fees & Spreads 30% weight | 4.5 / 5▲ | 4.3 / 5 |
|---|
Platforms & Tools 20% weight | 3.9 / 5 | 4.2 / 5▲ |
|---|
Customer Support 10% weight | 3.8 / 5 | 4.1 / 5▲ |
|---|
| Founded | 2017 | 2013 |
|---|
| Headquarters | Melbourne, Australia | Melbourne, Australia |
|---|
| Min Deposit | No minimum▼ lower | $100 |
|---|
| Spreads From | 0 pips | 0 pips |
|---|
| Commission / lot | $4.5/lot▼ lower | $7/lot |
|---|
| 0.45 pips▼ lower | 0.7 pips |
| Max Leverage | 500:1 | 500:1 |
|---|
| Inactivity Fee | None | None |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit cardSkrillNetellerPayPal | Bank transferCredit cardDebit cardCrypto |
|---|
| Withdrawal methods | Bank transferCredit cardSkrillNetellerPayPal | Bank transferCredit cardCrypto |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | ASIC VFSC | ASIC VFSC |
|---|
| Platforms | cTrader MetaTrader 5 MetaTrader 4 | IRESS MetaTrader 5 MetaTrader 4 |
|---|
| Active bonuses |
|---|
Client funds held in segregated accounts
Negative balance protection
Raw spread account available
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
Pros
10,000+ instruments including real equities via IRESS DMA
ASIC regulated, Tier 1 Australian investor protections
ECN Edge account: raw spreads from 0.0 pips at $7 commission
Strong multilingual support for Asian clients
Client funds held in segregated accounts
Negative balance protection
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Cons
Smaller, newer broker (est. 2017) with limited global brand recognition
Limited research and educational content
VFSC license used for non-AU clients offers fewer protections
No investor compensation scheme
No proprietary platform
Limited charting capabilities
No 24/5 live chat
No phone support
Support available in limited languages
Cons
$100 minimum deposit on standard accounts
Less brand recognition than IC Markets or Pepperstone in Australia
IRESS DMA platform requires separate setup
No investor compensation scheme
No proprietary platform
Dig deeper into each broker’s features, fees, and regulation.
Score 4 / 5
Personalised recommendation
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