The invention relates to a catalyst which is suitable for use in an anode of a fuel cell. The catalyst comprises (i) nickel metal and (ii) at least one metal selected from transition metals and may optionally also comprise (iii) at least one metal selected from alkaline earth metals. Metals (i), (ii) and, if present, (iii) are supported on (iv) a finely divided electrically conductive carrier. The weight ratio (i):((ii)+(iii)) is at least 3:1.