Circle Review

Zota Robert

Dec 18, 2017
There are 2 basic account types with Circle Markets – Standard and Pro Trade, as well as an Institutional one. All account types offer variable spreads and micro tradeable lots. Only the Standard one is commission-free, however CFD trading on this account is not available.

Trading Accounts

Account type:Standard

Minimum Deposit: $50
Minimum trade size: 0.01 (micro lot)
Maximum leverage: 1:100
Spread From 0.7 pips

Account type Pro Trade

Minimum Deposit $1000
Minimum trade size 0.01 (micro lot)
Maximum leverage 1:200
Spread From 0.2 pips + commission $2 per standard lot

Account type: Institutional

Minimum Deposit $10 000
Minimum trade size 0.01 (micro lot)
Maximum leverage 1:100
Spread From 0.1 pips + commission $1.75 per standard lot

In addition, Circle Markets provides PAMM accounts via Its Percentage allocation management module.

The Company. Security of Funds

Company Country Regulation
Circle Markets Limited New Zealand FMA

Established in 2016, Circle Markets provides forex traders with a high-quality pure STP trading environment. With Circle Markets you can trade in 35 different currency pairs, 11 commodity markets, 12 leading world stock market indices or in bonds on the MetaTrader 4 trading platform.

The brand is operated by Circle Markets Limited, which is a Registered Financial Services Provider under the New Zealand’s Financial Markets Conduct Act 2013 and as such it is regulated by the Financial Markets Authority (FMA).

FMA-regulated companies must comply with certain rules and procedures. There have been proposed some legislative amendments lately, requiring Forex brokers to hold net tangible assets amounting to at least $1,000,000, which is a step further in tightening up the NZ regime. Nonetheless, a minimum capital requirement for brokerage companies has not yet been introduced.

What is more, Circle Markets provides additional guarantee to clients’ funds, since the company is a member of FSCL (Financial Services Complaints Limited), an independent not-for-profit External Dispute Resolution (EDR) scheme.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit required by Circle Markets is $50, which is a comparatively low amount to start trading with.

Commission & Spreads

Circle Markets offers variable spreads, which start from 0.2 pips on EUR/USD on the ProTrade account type and a commission of $2 per standard lot applies per side. This basically means that the average trading costs for this pair would be around 0.8 pips, which is a really attractive pricing.

In comparison, Fullerton Markets’ ECN spreads start from 0 pips on EUR/USD, which incur a commission of $10 per standard lot round trip. So trading costs for this pair are also around 1 pips as a minimum. For further information, you may check out and compare real-time spreads of 15 leading brokers here.


The maximum leverage level offered by Circle Markets is 1:200, which is average. Nonetheless, most brokers provide higher levels, as they allow traders to operate with large amounts of money on a relatively small deposit. Keep in mind, however, that such high leverage levels involve greater risk.

Fullerton Markets, for instance, provides leverage up to 1:500. You may look up a list of more FX brokers offering leverage up to 1:500 or higher here.

Trading Platform

Circle Markets offers its clients the most widely used trading platform, MetaTrader 4 (MT4), available as desktop and mobile versions.

The MT4 platform, developed by Russian software company MetaQuotes, is preferred by most experienced traders, because it is equipped with an advanced charting tools, 23 analytical objects, 30 built-in technical indicators, a wide range of Expert Advisors (EAs) and extensive back-testing environment for them. Almost any trading strategy can be formalized and implemented as an Expert Advisor, so that it automatically does all the work for you. Traders can download ready-made or create their own EAs, scripts and custom indicators in the MQL programming language.

Methods of Payment

Currently Circle Markets’ clients are able to make deposits via bank wire, credit card, China Union Pay, MegaTransfer E-Wallet

Accepted currencies: USD, EUR, GBP, NZD.


Circle Markets is a young NZ-regulated STP brokerage that provides trading in forex and CFDs through the popular MT4 platform under competitive terms and conditions. To some things up, here are the advantages and drawbacks in relation to this broker:

Pros Cons
Competitive spreads Lighter regulation (NZ)
STP environment No choice of trading platforms and payment methods
MT4 available