Circle Markets Review (2023)

Is Circle Markets a scam or a legit broker?

Circle Markets is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

Circle Markets is a forex broker and trading service provider that offers over 140 instruments through a comprehensive cTrader platform and pure STP connectivity (Check out STP Trading) to execution.

Appointing the facts about Circle Markets offering important to mention that the broker states its head office in New Zealand, as well as its registration as a New Zealand Financial Services Provider. However, while looking closer it was revealed that the company is only registered in a New Zealand, but not regulated. That means that the firm indeed has a registration number with a respected FSP, yet its register allows only to trade financial products or foreign exchange on behalf of other persons. Therefore, financial service, broking service, the offering of trading and providing is not permitted or nor regulated. (Check the Circle Markets FSP registration by the link.)

Another license of the Circle Markets company, which indeed allows processing of the trading service to international clients is a Vanuatu license issued by VFCS. Since Vanuatu registration is an offshore one, the company has very low establishment standards and never checked in regard to its reliability of service delivery. As we always recommend not to engage or sign-up with non-regulated or offshore brokers, the Circle Markets receives the same “recommendation”.

Conclusion

Besides the issue that the Circle Markets broker misleads about its regulatory status, you never know which sort of surprises may occur while trading with them. At the instance, fraudulent brokerages are at every corner and you should be extremely careful while choosing a trading provider, verify its information and always keep in mind that regulated by trusted authorities brokers deliver much safer trading conditions along with protection. Moreover, check on the reviews from the traders and reputation, while the list of Regulated forex brokers can assist in your choice, or brokers such as FXPrimus (Read about FXPrimus broker) and XM.com (Check XM broker). 

Circle Markets website is no longer active.