The first of our industry interviews comes from the founder and CEO of Fusion Markets, Phil Horner. He gave us his thoughts on many aspects of the current trading environment, including; the Fusion Markets business model, his aims for the brand, regulatory changes and which assets are the ‘most traded’ at Fusion.
Introduce Yourself And Tell Us A Little About Fusion Markets
I’m Phil Horner, CEO and Founder of Fusion Markets. I’ve now been fortunate enough to work in the forex industry for over a decade, having started my career at the peak of the GFC and have loved every minute of it.
Fusion Markets was founded on a very simple principle – to stop traders from paying too much!
It sounds like a pretty simple mission I know, but the less people pay to trade, the more potential success they’ll see. Trading is hard enough as it is without incurring higher costs.
What we really want to try to achieve is to help people succeed in the markets, and we do that by lowering costs, providing fast and friendly support and always using cutting edge tech to make traders’ lives easier.
What Makes Fusion Markets Different?
For starters, we have the lowest advertised commission rate in Australia to trade FX, saving traders on average 30-40%.
We meticulously track our pricing vs. our competitors each week and are very proud of the results.
Second, we spend a lot of resources improving our clients’ trading experience; everything from how you apply for the account to making deposits and withdrawals to the amount of products we offer (now over 120 and even more coming soon!).
Third, while it’s not something you can see and touch, we strive to create a great company culture where our team is focused on always growing as human beings and trying to think up ways to change the game and traders’ expectations of their provider.
Which Markets Are The ‘Most Traded’ At Fusion? – Have you noticed those trends changing, with the growth of Crypto currency trading for example?
We’re seeing a lot of activity in Gold and Oil at the time of writing and given we’re now close to the pointy end of Brexit, quite a bit of GBP.
Of course, EURUSD and AUDUSD are still hot but we’ve been surprised especially with the commodities.
In terms of Cryptos, it’s been a little quieter than usual in this space but perhaps it’s the calm before the storm.
Regulators Are Making Changes Both In The EU And Australia. How Do Feel About Those Changes?
Regulations are always changing and it’s a part of our culture to be agile enough to respond to these as they come up.
Australia is tightening up some of the regulations and these have been expected for a while so it hasn’t come as a surprise to see leverage restrictions coming in along with other changes.
We are of course going to abide by the rule changes whenever they come into effect but we are very aware that some of these changes aren’t what clients want.
As any good broker we want to serve our clients to the best of our ability so we need to have an open mind about these things and try and think long term and what’s best for our clients.