A subgroup of \(\textrm{Homeo}_+(\mathbb {S}^1)\) is Möbius-like if every element is conjugate to an element of \(\textrm{PSL}(2,\mathbb {R})\) . In general, a Möbius-like subgroup of \(\textrm{Homeo}_+(\mathbb {S}^1)\) is not necessarily (semi-)conjugate to a subgroup of \(\textrm{PSL}(2,\mathbb {R})\) , as discovered by Kovačević (Trans Am Math Soc 351:4823–4835, 1999). Here we determine simple dynamical criteria for the existence of such a (semi-)conjugacy. We show that Möbius-like subgroups of \(\textrm{Homeo}_+(\mathbb {S}^1)\) which are elementary (namely, preserving a Borel probability measure), are semi-conjugate to subgroups of \(\textrm{PSL}(2,\mathbb {R})\) . On the other hand, we provide an example of elementary subgroup of \(\textrm{Diff}^\infty _+(\mathbb {S}^1)\) satisfying that every non-trivial element fixes at most 2 points, which is not isomorphic to any subgroup of \(\textrm{PSL}(2,\mathbb {R})\) . Finally, we show that non-elementary, non-locally discrete subgroups acting with at most N fixed points are conjugate to a dense subgroup of some finite central extension of \(\textrm{PSL}(2,\mathbb {R})\) .