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Capital GMA Review - is it scam or safe?

Capital GMA Review - is capitalgma.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Capital GMA
Capital GMA is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit Max. leverage Spread
Bronze  $1 000 N/A N/A
Silver  $2 500  1:400  3 pips, fixed
Gold  $10 000 N/A N/A

 

Capital GMA says to be a financial services provider based in Bulgaria. It provides a web-based trading platform and a choice of three account types, however, there is no further relevant information. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with Capital GMA, as the broker is not legitimate and not to be trusted.

 

 

Capital GMA Advantages

 

Up to 1:400 in leverage, many trading instruments

For all its faults, Capital GMA at least provides generous leverage ratios, and solid selection of tradeable assets. When we logged into the broker’s platform, we saw that the leverage extended to traders is up to 1:400, which is more than enough for all trading styles.

 

Furthermore, the availability of wide range financial instruments is always welcomed, as investors are able to diversify their portfolios. That said, Capital GMA covers different asset classes, including forex, as well as CFDs on stocks, indices, commodities, and precious metals.  

 

 

Capital GMA Disadvantages

 

No legit license, regulatory warning against it

 

 

 

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The parent company of the broker, Equalizer LTD., is said to be registered in Bulgaria. However, going on the online registry of the local regulatory agency we find no mention of the company’s name which leads us to conclude that the brokerage is not regulated, and as such is an unsafe environment for investments. With no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients.

 

Furthermore, it seems that Capital GMA illegally targets European Investors, although it is not authorized to operate in any regulated financial market. The broker has been blacklisted by the Italian financial regulatory body, the CONSOB, as a potential scammer. 

 

Lack of clarity on the trading conditions

As a matter of fact – there is scant information at all regarding the trading conditions of Capital GMA and the purported trading products they are offering on their website. Such a lack of clarity is quite likely an indicator of shady purposes behind the website. 

 

MetaTrader not supported, High spreads

We opened a live account with the broker very easily, and were given access to some web-based interface.

 

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This trading terminal may seem all right to the naked eye, but in fact lacks many of the functionalities of the industry leading MetaTrader4 platform. What is worse, we are seeing this trading platform, always in the wrong places. No legitimate broker has ever utilized this trading console.

 

 

>> Wanna trade with a good MT4 broker? <<

 

 

We should also note that the spreads offered by Capital GMA are not lucrative for traders. We found the benchmark EUR/USD spread fixed at 3 pips, while most brokers have significantly lower spreads.

 

High initial deposit, extra fees

In order to open the most basic account type with Capital GMA – the Bronze – one has to deposit at least $1 000, which is too much for an unregulated company. Most brokers allow you to open a standard account with $100 - $250 or less.

 

Typically, brokerages charge only some withdrawal, swap and dormant fees, but this broker has several more, which are unfavorable to traders. More specifically, Capital GMA charges a profit clearance fee, ranging between a minimum of $1.50 and maximum of $5.00 per trade (based on the profit volume generated from each position), and a monthly maintenance fee of 20 (USD, GBP, EUR).

 

 

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Conclusion

 

Overall, the lack of legit license and the regulatory warning against Capital GMA inclines us to suspect that potential clients of the brokerage may be open to substantial risk. All the more so, considering the lack of any relevant information on trading conditions.

 

Readers should be aware that the only way to trade safely is to do so with brokers that hold a license from renowned and financial regulators such as the UK’s FCA or CySEC in Cyprus. Not only do these agencies oversee operations and require regular reports from brokers licensed by them, but those under their gaze are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

 

 

>> Trade with a CySEC-regulated broker <<

 

 

To sum up the most important things about Capital GMA in a few words:

 

Pros Cons
Generous leverage No legit license
Solid selection of assets Lack of clarity on the trading conditions
  MetaTrader not supported, High spreads
  High initial deposit, extra fees

 

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Traders` reviews for Capital GMA

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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