CFDs carry a high risk of losing money rapidly due to leverage.
Fusion Markets, an Australian-founded broker (HQ Melbourne, since 2017), offers access to a broad range of commodity CFDs. Indian retail clients are onboarded under the offshore arms, Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA). This means trading these products sits outside the framework permitted by the RBI and FEMA for Indian residents-a key factor to weigh before you commit funds.
The Direct Answer on Commodities CFDs
Yes, you can trade commodities like gold, silver, oil, and natural gas as CFDs with Fusion Markets, but doing so from India involves regulatory restrictions. Your account is held with the Vanuatu or Seychelles entities, not a local one. The broker holds no SEBI registration in India, and under RBI/FEMA rules, retail FX/CFD trading in non-INR pairs via offshore brokers is not permitted for residents.
What Leverage Actually Does to Your Commodities Trades
For Indian clients, Fusion Markets offers up to 1:500 leverage on FX majors and metals (gold, silver), 1:100 on indices and energies (oil, gas), and 1:20 on crypto CFDs. There is no SEBI cap on this offshore leverage. In practice, 1:500 is institutional-level risk for a retail account.
Position size: 1 lot of Gold (100 oz) at $2,000/oz = $200,000 notional value With 1:500 leverage, required margin = $400 A 1% adverse price move = $2,000 loss, which is 5x your margin
At 1:500, an adverse move of just 0.2% is a full account liquidation. Compare that to SEBI-recognised exchange-traded INR derivatives, where margins are roughly 3-5% (about 20-30x at most), a far less lethal starting point.
Account Types and Real Costs for Commodity Spreads
Fusion Markets offers two account structures. The cost difference is material if you plan to scalp commodities or hold higher-frequency positions.
| Account Type | Spread Structure | Commission | Best For |
|---|---|---|---|
| Zero | Raw spreads from 0.0 pips | AUD 4.50 per side per lot | High-frequency scalpers, tight cost control |
| Classic | All-in spreads from ~0.9 pips | None | Swing traders, smaller accounts |
On the Zero account, EUR/USD starts from 0.0 pips plus AUD 4.50 per side commission. That is among the lowest round-trip costs available. For Gold or WTI Crude, spreads vary with market volatility.
| Instrument | Zero Spread Example | Commission (per side, per lot) |
|---|---|---|
| Gold (XAU/USD) | ~0.5-1.5 pips raw | AUD 4.50 |
| WTI Crude | ~2-4 pips raw | AUD 4.50 |
| Silver (XAG/USD) | ~2-3 pips raw | AUD 4.50 |
Funding Your Account: No INR, No UPI
There is no INR base-currency account. You are forced into USD, AUD, EUR, GBP, JPY, CHF, CAD, NZD, SGD, or HKD. This means every rupee deposit incurs an INR-USD conversion cost. At the time of review, there was no verified UPI or local INR rail available. The deposit rails are bank wire, Visa/Mastercard, Skrill, Neteller, PayPal, and crypto (BTC/USDT). No minimum deposit is required, and cards are instant with $0 broker fee, but international bank wires may incur approximately USD 20–30 in fees.
Red Flags
Offshore brokers advertising UPI deposits for spot forex operate outside the legal framework. The conversion cost is material to your overall return.
The Regulatory Context: What "Offshore" Means for You
Fusion Markets is served under Vanuatu VFSC reg. 40256 and Seychelles FSA licence SD096 for Indian clients. The broker holds no SEBI registration.
On 19 November 2025, the RBI updated its Alert List of unauthorized forex trading platforms. Seven entities were added in that update: Starnet FX, CapPlace, Mirrox, Fusion Markets, Trive, NXG Markets, and Nord FX. The list totals 95 entities and is not exhaustive. The RBI has formally flagged Fusion Markets as an unauthorized platform for Indian residents. Verify current status at https://www.rbi.org.in.
Trading spot forex or CFDs with offshore brokers is illegal for residents. Remitting funds abroad for margin forex trading is not a permitted LRS purpose. The RBI Master Direction on Electronic Trading Platforms prohibits operating a forex ETP in India without RBI authorisation.
Platforms and Execution: The Tools for Heavy Trading
Fusion Markets offers MetaTrader 4, MetaTrader 5, cTrader, and TradingView integration across desktop, web, and mobile. The broker lists over 250 instruments: 90+ forex pairs, metals, commodities, indices, share CFDs, and crypto CFDs.
| Platform | Order Types | Best Commodities Feature |
|---|---|---|
| MT4 | Market, Pending, SL/TP | Simple interface, expert advisors |
| MT5 | Market, Pending, SL/TP, Stop Limit | More timeframes, economic calendar |
| cTrader | Market, Pending, Stop Limit | Level II pricing, raw ECN visibility |
| TradingView | Chart-based tracing | Advanced charting, social integration |
Leverage Risk and Your Capital
Your risk framework should account for both market and jurisdictional risk. On the market side, leverage is high and commodities are volatile. On the jurisdictional side, trading spot forex or CFDs with offshore brokers is illegal for residents, and the 20% TCS on LRS remittances above Rs 10 lakh per financial year (effective 1 April 2025) applies to the transfer itself.
| Risk Factor | Practical Consequence |
|---|---|
| High leverage (1:500) | Small adverse move wipes margin |
| INR conversion | Every deposit/withdrawal loses value to spread |
| Tax on LRS remittance | 20% TCS on amounts above Rs 10 lakh per year |
| No SEBI protection | No local regulatory recourse |
Where It Stands: Fusion Markets for Indian Traders
Makes sense for
Experienced traders who fully understand the regulatory reality and specifically want low-cost, raw ECN spreads on gold and energies. The 0.0 pip raw spreads plus AUD 4.50 commission represent some of the cheapest execution costs available. You must handle your own tax compliance on offshore CFD profits.
Best skipped by
Anyone who does not want to navigate the restricted status of offshore CFDs. If you seek a simple legal path to commodities exposure in INR, consider SEBI-recognized exchanges (NSE, BSE) where currency and commodity derivatives are settled in INR with SPAN margins. If you want certainty that your capital is protected by a strong regulatory authority, consider a broker with an FCA or CySEC license, despite having less leverage.
Tip
Use lower leverage on the platform even if the tool allows more. The only party that benefits from maximum leverage is the broker when you churn volume.
Can I trade commodities like crude oil and silver?
Yes. The broker offers over 250 instruments, including metals (gold, silver) and energies (WTI, Brent) as CFDs.
Does Fusion Markets offer Islamic/swap-free accounts for commodities trading?
Yes, a swap-free, Shariah-compliant option is available on request for Indian Muslim clients. This applies to the offshore CFD channel.
How do commissions on gold trades work on Fusion Markets?
On the Zero account, you pay raw spreads from 0.0 pips plus AUD 4.50 per side per lot for gold. The Classic account has no commission but trades with all-in spreads from approximately 0.9 pips.