SCAM ALERT - Capital GMA Broker

Photo: Google Image

Capital GMA: www.capitalgmafx.com

Reason to avoid: No license

Listed Date: Nov 20, 2020

Capital GMA is a financial services provider, offering a selection of more than 70 financial assets as CFDs to traders from almost all around the globe. The broker claims to give its clients access to the world’s most exciting and volatile exchange market via their desktop, smartphone or tablet device. Capital GMA also states they help clients make the most out of online trading, access liquidity, and manage risk effectively, their practical expertise, comprehensive technology and unparalleled network allow them to deliver an unforgettable trading experience. However, it doesn’t actually look that promising.

Is Capital GMA a scam or legit broker?

No, it is not safe to trade with Capital GMA as it is not regulated. Capital GMA is owned and operated by Equalizer LTD. Registered address: 8009 Burgas City, Burgas Region; Burgas Municipality Transportna Str., No. 15, Floor 2, Apt. Office 1. Bulgaria. However, this company was not found in the register of the Bulgarian Financial Supervision Commission.

The company mentions a British contact phone number without having an office there or more importantly, without being regulated in the UK. 

Moreover, Capital GMA has been blacklisted by the Italian regulator CONSOB:

“CONSOB availed itself of the powers deriving from the “growth decree” regarding the blackout of the sites (including Equalizer Ltd. (website www.capitalgmafx.com) of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of Feb 28, 2020, regarding the blackout of the site through which the abusive bid is made.”

All investors and traders are advised to avoid Capital GMA and other unregulated brokers. The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Cyprus and reliable brokers such as FP Markets and Alpari.

Reprinted from 55Brokers, the copyright all reserved by the original author.