Circle Markets Review


    Open Account
    Visit broker
    Add your review

    Introduction to Circle Markets

    Circle Markets is a forex trading company that was founded in New Zealand in mid-2008 by self-proclaimed professional traders. The company didn’t start out as a forex broker immediately. According to their history, the company was first in the business of developing quantitative trading strategies. Following this, the Circle Markets team went on to manage client funds using the automated quantitative trading systems that they had developed. Finally, by around 2016, Circle Markets decided to establish a forex and CFD trading service. Supposedly the reason for this is because they saw a lack of safe trading venues for successful traders, i.e. traders who make a profit. This is a problem we are fully aware of. Let’s look a bit closer at Circle Markets. 

    Discover More cTrader Brokers

    About Circle Markets

    This brand is operated by Circle Markets Ltd, which is a New Zealand Financial Services Provider, with the registration number of FSP460986. Generally speaking, this broker is considered relatively safe to work with because of the fact that the company is registered as an FSP, therefore they must accomplish a list of requirements and follow a number of rules. Circle Markets offers its traders an additional guarantee to customer funds, as they are members of FSCL (Financial Services Complaints Limited).

    Trading with Circle Markets

    This broker offers its traders the opportunity to trade in a pure STP environment. It’s very hard to verify if this is true or not until you actually start trading with a broker. Only when you apply your trading strategy do you know if a broker will accept it. 

    With Circle Markets, you can trade on 144 different currency pairs, 14 stock indices, 20 cryptocurrencies, and a number of commodity markets. However, this is likely to vary depending on account type and trading platforms. 

    Commission and Spreads

    Circle Markets is a broker that offers its customers different account types. In total there are currently 7 account types. Spreads for ECN style account start at 0.0. Trading commissions vary depending on the account balance. 

    For example, the cTrader RAW ECN account has a minimum deposit of $100. However, the trading commissions are $3.5 Per Side, Per Lot. Whereas on the cTrader Pro account, where the minimum deposit is $1000 the commissions charged are $3.5 Per Side, Per Lot. 

    Circle Markets Leverage

    In Circle Markets the maximum leverage level offered is 1:500. Being a New Zealand forex broker, the company is still able to offer higher rates of leverage to retail traders. Although it is not usually recommended to trade with such high leverage, the option is there. Just because a broker provides higher leverage doesn’t mean you should use the maximum available, which is usually very dangerous for traders. As you can feel tempted to trade with large amounts of money, risking losing a lot of your capital for quicker and larger rewards.

    Circle Markets Trading Platforms

    This broker offers its customers the most commonly used trading platform, which is MetaTrader 4 (MT4). however, they also of services through the cTrader platform and FIX API. Check our comparison of cTrader vs. MetaTrader 4.

    While Circle Markets offers all versions of the cTrader platform (Web, Desktop, iOS and Android), the company only offers the desktop version of MT4. I.e. there is no mobile trading on MetaTrader with this broker. 

    Circle Markets Deposits

    The initial deposit that you can make with this broker is $ 50 and this is only for trading on MT4. The minimum you can deposit to trade with cTrader is $100. If you are trading with a new broker and you are not completely certain of their reputation, we do suggest depositing the minimum possible. 

    On cTrader accounts, the base currency is available in USD, EUR, GBP, AUD, RUB, JPY, and Ethereum. Slightly less is available on MT4. 

    With regards to deposit and withdrawal methods, you can deposit via international and local wire transfer options. Credit and debit cards. And you can deposit with Payeer and FasaPay methods.


    Summary of Circle Markets

    Circle Markets has focused most of it’s offering towards the cTrader platform. For example, on cTrader, there are 144 currency pairs and on MetaTrader 4, just 40. Likewise on cryptos, on cTrader, there are 20 pairs, on MT4, just 3. We like brokers who embrace cTrader. 

    The company does seem to be a small operation. Whether this is good or bad is always a gamble. A small company doesn’t necessarily have a large amount of stability behind it, but on the other side, the support approach can be much more personal. 

    If you decide to invest with Circle Markets, we suggest proceeding with additional caution. It’s unclear how stable banking, payment and vendor relationships are and how experienced the company’s employees are. Check the reviews of our other cTrader brokers here.

    Circle Markets Review
    Circle Markets Review
    cTrader Brokers