FuslonFX – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
FuslonFX - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://fuslonfx.com
Founded: 2020
Regulations: None
Languages: English
Deposit Methods: Bank Transfer, Cryptocurrencies, PayPound, CardPayz
Minimum Deposit: Unspecified
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Stocks, Forex, CFDs, Crypto, Commodities, Futures
Trading Accounts and Conditions
FuslonFX does not mention the types of trading accounts they have. It was only when we tried registering for an account that we found out that this broker offers various account types: Micro, Premium, Pro, VIP, Zero Fixed and Zero Fixed. However, nowhere on their website does the broker mention the trading conditions attached to each of these account types.
From their website, we were able to find out that the broker offers a maximum leverage of 1:500. Forex spreads start from 0.2 pips and you can trade up to 80 currency pairs. Index spreads start from 0.4 pips for the S&P 500. Stocks are charged a commission of $1 per 100 shares and you can trade on UK, US, Italian and German shares.
FuslonFX – Advantages
There is nothing advantageous about trading with FuslonFX.
FuslonFX – Disadvantages
Listed below are all the signs that tell us that FuslonFX is a scammer:
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Lies About Regulation Status
FuslonFX goes out of their way to state that they are a globally regulated brokerage. This is a lie. Here’s why.
First, the broker claims that FuslonFX is the trade name for Top Markets Ltd, a company that is registered with the Hong Kong SEC (Securities and Exchange Commission). And then, in their Contact Us section, the broker gives us a UK address – but no telephone number. Added to this, the broker states that they are also regulated in the European Union (but they do not specify which nation of the EU).
Now, operating in the UK means that a broker has to be authorized to offer their trading servces by the country’s financial regulator, the Financial Conduct Authority. We checked the FCA’s website where they have an online register. We could not find any company by the name of Top Markets Ltd and no broker by the name of FuslonFX listed with them. Which means that they are not regulated by the FCA.
The broker also does not mention which country in the EU are they regulated by – which means that this is just a claim to appear more legitimate.
And checked the Hong Kong SEC’s online register also yielded no results.
All of the checks we did on this broker told us one thing – FuslonFX is unregulated, has lied about their regulation, and we aren’t even sure about their whereabouts. So, in all probability, we are dealing with an anonymous scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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No Legal Documents
Legitimate brokers need to – by law – have detailed legal documents on their website, documents that are easily accessible for all to see. These documents are what make the contract between you and them. They tell you what to expect from the broker, what kinds of fees and commissions they charge, what are their conditions for you to trade on their software and so on.
With FuslonFX, there is no legal section on their website. It is only when you register for an account that you see an I Agree to the Terms and Conditions tab on the registration form. However, when you click on that link, you are shown a blank page; there are no terms and conditions present on this broker’s website.
This clearly tells us that we are dealing with a scammer.
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Lies About Trading Software
On their website, FuslonFX promises their customers two different types of trading platforms – the industry leader, the MetaTrader 4 and a web-based unbranded software.
The broker does have the MT4 software, but it is not registered to either their parent company or to FuslonFX. This software is registered to a company called Cfidex Ltd, a company that is based in the Marshall Islands.
Added to this, the login credentials that this broker provides do not work on the MT4 platform. You are only able to access their web-based trading platform.
All of this tells us that we are dealing with a scammer, trying to entice traders into investing with them by promising a world-class platform such as the MT4 software.
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Issues with Trading Conditions
Another red flag that clearly tells us that we are dealing with a scammer is the fact that this broker provides us no real details about their trading account types and trading conditions.
As we said earlier, there is nothing on their website about their trading accounts; it is only upon registration that you find out the various trading accounts they offer. But you don’t get to know what the trading conditions for each of those account types are. All you are told is that there is an unrealistically low forex spread starting from 0.2 pips, and that there is a maximum leverage of 1:500. We do not know what the minimum deposit requirement is.
This lack of clarity is the first indication of FuslonFX’s scam. The second is the low spread (such a spread would either mean high commissions or big losses for the broker – both are disadvantageous for the broker!). And the third is the highly risky leverage (which is illegal in both UK and Europe, where the maximum allowed leverage is 1:30!).
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Shady Payment Options
FuslonFX offers their clients various payment methods – bank transfers, cryptocurrencies and payment processors such as Cardeta, CardPayz, Gateway Services and PayPound. All of these payments processors are known for their shady dealings, so that fact that this broker offers their services is not very encouraging.
There is also no information about their withdrawal policy, so that also is another red flag. We do not know if you even be allowed to withdraw your funds.
Conclusion
FuslonFX is a scammer and trusting them would be a bad idea.
FuslonFX
Pros
- None
Cons
- Lies About Regulation Status
- No Legal Documents
- Lies About Trading Software
- Issues with Trading Conditions
- Shady Payment Options
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more