|Account Type||Minimum Deposit||Minimum trade size||Maximum leverage||Spread||Platform|
|Standard||$1000||0.01 (micro lot)||1:100||From 0.7 pips||MT4|
|Pro Trade||$2000||0.01 (micro lot)||1:200||From 0.2 pips + commission $2 per standard lot||MT4|
|Institutional||$10 000||0.01 (micro lot)||1:100||From 0.1 pips + commission $1.75 per standard lot||MT4|
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.
In addition, Circle Markets provides PAMM accounts via Its Percentage allocation management module.
|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.
Minimum Initial Deposit
The minimum initial deposit required by Circle Markets is $1000, which is a comparatively high amount to start trading with, however its clients get access to a pure STP environment. In comparison, another NZ-based STP brokerage, Fullerton Markets, require $200 to start 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.
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.
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:
|Competitive spreads||Lighter regulation (NZ)|
|STP environment||No choice of trading platforms and payment methods|
|MT4 available||Comparatively high minimum initial deposit|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|
|Belize||IFSC||MT4, Web||$500||Review Website|