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Fusion Markets in Nigeria — review, licence and costs
Cost calculator (median of 57 priced of 81)
Score (6 of 6 axes scored)
ranked against full-basis brokers
Who actually onboards you
- Entity that onboards Nigeria residents
- Nigerian retail clients are onboarded under the offshore arms Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA).
- Local standing
- Offshore (VFSC/Seychelles) for Nigerian clients; no local SEC Nigeria authorisation and no local investor-compensation scheme; not verified on a local warning list.
- Licence as the register states it
- Served under Vanuatu VFSC reg. 40256 and Seychelles FSA licence SD096; Fusion Markets holds no Nigerian SEC licence.
- Leverage for this entity
- Up to 1:500 on FX majors and metals, 1:100 indices/energies, 1:20 crypto CFDs; not capped by a local Nigerian regulator.
- The firm behind it
- Founded 2017 in Australia (HQ Melbourne); low-cost raw-spread/ECN forex and CFD broker.
- What we hold against it
- Not verified on a local warning list; main caveat is offshore entity vs local protection and naira conversion.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (VFSC/Seychelles) for Nigerian clients; no local SEC Nigeria authorisation and no local investor-compensation scheme; not verified on a local warning list.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Nigeria market median(priced from 57 of 81)
Medians run over the 57 of 81 brokers that publish a price for Nigeria, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Zero account (raw spreads from 0.0 pips + AUD 4.50/side commission), Classic account (all-in spreads, no commission), no minimum deposit. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://fusionmarkets.com/About-us/Regulations
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (7 methods · 0 local rails)
Bank wire, Visa/Mastercard, Skrill, Neteller, PayPal and crypto (BTC/USDT);
- Bank wire
- Visa
- Mastercard
- Skrill
- Neteller
- PayPal
- Crypto
- Account currency
- No NGN base-currency account; accounts in USD, AUD, EUR, GBP, JPY, CHF, CAD, NZD, SGD, HKD, so naira deposits incur conversion.
- Fee declared
- 7 of 7 methods
- Withdrawal back to
- the funding method
Where it does not serve(18 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(6 platforms)
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
| Class | Count | Min spread |
|---|---|---|
| MetaTrader 4 | — | 0.9 |
| MetaTrader 5 | — | 0.9 |
| cTrader | — | 0.9 |
| TradingView | — | 0.9 |
| Forex pairs | 90+ | — |
| Shares | 100+ | — |
147 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 141 more.
Identical for every row: Leverage 500 NG.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.7 | 4,909 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(5 for and 3 against, each tied to a figure on this page)
- Round turn 4.8 USD on the raw + commission basis, under the Nigeria median 6.5
- Min deposit 0 USD, under the Nigeria median 20
- Swap-free account available
- Round-turn cost 100 of 100, its strongest of 6 scored axes
- 4 platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- Withdrawal in 120 h, over the Nigeria median 24
- Payouts 0 of 100, its weakest of 6 scored axes
Alternatives in Nigeria(6 of 81 scored in Nigeria)
- Round turn, USD
- 6NG
- Min deposit, USD
- 20NG
- Leverage
- 200NG
- Rank in this country
- #10
- Round turn, USD
- 6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 500NG
- Rank in this country
- #17
- Round turn, USD
- 6NG
- Min deposit, USD
- 10NG
- Leverage
- 3000NG
- Rank in this country
- #26
- Round turn, USD
- 5NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 2000NG
- Rank in this country
- #38
- Round turn, USD
- 6NG
- Min deposit, USD
- 5NG
- Leverage
- 5000 group
- Rank in this country
- #30
- Round turn, USD
- 6NG
- Min deposit, USD
- 10NG
- Leverage
- 2000NG
- Rank in this country
- #28
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Nigeria score. Full methodology
| Axis | Weight | What is measured | Fusion Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 85 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 10 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 0 |
| Track record | 10% | Years since the firm was founded, from its own filings | 45 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 70 |
Where Fusion Markets sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 4.8 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 0 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · this broker 1:500 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does Fusion Markets accept residents of Nigeria?
- No. Offshore (VFSC/Seychelles) for Nigerian clients; no local SEC Nigeria authorisation and no local investor-compensation scheme; not verified on a local warning list. Onboarding entity: Nigerian retail clients are onboarded under the offshore arms Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA).
- Is Fusion Markets licensed to serve clients in Nigeria?
- Served under Vanuatu VFSC reg. 40256 and Seychelles FSA licence SD096; Fusion Markets holds no Nigerian SEC licence. Checked on 09.07.2026.
- How much does one round turn cost at Fusion Markets?
- About 4.8 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does Fusion Markets offer to retail clients in Nigeria?
- Up to 1:500. Up to 1:500 on FX majors and metals, 1:100 indices/energies, 1:20 crypto CFDs; not capped by a local Nigerian regulator.
- Which trading platforms does Fusion Markets support?
- MetaTrader 4, MetaTrader 5, cTrader, TradingView. Instruments: 250+ instruments: 90+ forex pairs, metals, commodities, indices, share CFDs and crypto CFDs.
- How can I withdraw money from Fusion Markets in Nigeria?
- Bank wire, Visa/Mastercard, Skrill, Neteller, PayPal and crypto (BTC/USDT); no verified Nigeria-specific local rail.
- What account types does Fusion Markets offer?
- Zero account (raw spreads from 0.0 pips + AUD 4.50/side commission) and Classic account (all-in spreads, no commission); no minimum deposit.
- Does Fusion Markets offer a swap-free (Islamic) account?
- Yes. Fusion Markets offers a swap-free (Islamic) account to Nigeria residents.