Capital GMA Review

A Terrible Broker with Truncated benefits

Reviews: 1


Total views: 399

Published: 25 March 2020

Posted by: Anonymous

Capital GMA is owned by Equalizer Limited and is based out of Bulgaria. Equalizer Limited status, when searched, the internet reflected its status as dissolved and is believed to be registered in the UK.

Bulgaria is a small country in Southeastern Europe. A small country is an ideal location for the unregulated brokers to grow. Bulgaria is no new example. It is a blatant region, proverbial with the small companies to grow their illicit businesses. Whether it’s tax evasion, mistreatment with the clients and their funds, and malleable rules for company operation, it has been a hub of such companies.

While writing this Capital GMA review, I  have found that it is not regulated by the regional financial institutions governing body – Financial Supervision Commission of Bulgaria. The company is thus, an offshore unregulated broker. It is not working under the surveillance of any of the top financial regulators. There is no transparency in the working and the company does not submit any audit reports. The funds of the traders couldn’t be safe as they are not collected in segregated accounts. The worst part is the case that if the company went bankrupt, there is no compensation to the traders and the money will sink along with the company only.

The website of the company is

The website of the company is registered in April 2019. The owner is mentioned as Tucows Incorporation but the same has not been mentioned anywhere on the website of the company. Tucows International is a Canadian based Internet and Telecommunication service provider.

Further, the website is ill-maintained and the links for the social media accounts of the Capital GMA don’t work. Twitter, Facebook, LinkedIn, and Tumblr links lead to nothing. The company has utterly failed to tap the capability of the online presence. What else can I say about their social media when the company has not even maintained its website properly. 

Blacklisted by the CONSOB

The Commissione Nazionale per le Societa e la Borsa (CONSOB) is the financial regulatory authority of Italy. The CONSOB is one of the most reputed watchdogs keeping an eagle’s eye over the non-banking financial institutions working. In the year 2019, it has released a red flag against Capital GMA. The Capital GMA is now blacklisted by the Italian auditor for practicing any type of trade services to the customers from Italy. The official notification can be checked at

Services of Capital GMA and Trading Conditions

The company is into Forex, CFDs, Indices, Stocks, Commodities, precious metals, etc. The trading conditions are not clear. The company has not mentioned the details over its website. The spread is said to be fixed at 3 pips, which is not true with the live trading accounts of the company. There is very scarce information over the trading conditions according to the assets. Lack of information over the trading rules and regulations is the barometer of the unauthorized working procedures of the company

Absence of Demo Account

Capital GMA does not provide any demo account to its traders. The absenteeism of the free trial account is the beacon of weak services offered by the company. As the trading market is very volatile, it requires a practice account for the traders. A demo account can be used as a free trading simulator. It gives the chance to understand the trading skills as well as to familiarize the trader with the trading platform. Sadly, no such facility is available for the traders who are working with the Capital GMA.

High Deposit Trading Accounts

While there is no availability of the demo account with the company, there are three types of live trading accounts provided it. On the website, there is a mention of five types of trading accounts. Factually, there are three accounts, not five as stated by the company.

  1. Bronze Account: It is the basic account provided by the company. The minimum initial deposit required by the company is set to $1,000. There is no information provided for the leverage and the spread. The leverage ratio is the proportion of the funds of the trader and the size of the broker’s credit. The leverage must not go beyond the ideal 1:100. A high spread is the indicator of the low liquidity and the other case can be high volatility in the trading market.
  2. Silver Account: This is the second account provided by the company. It requires the minimum requirement of $2,500.  The leverage is claimed to be 1:400. But in actual practice, it goes too high then this claimed leverage as well.  The spread is told to be fixed at 3 pips for the EUR/USD pair.
  3. Gold Account: It requires a minimum initial investment of $10,000. It is gigantic as compared to the weak services against such a high deposit. Needless to say, the company has again failed to disclose the spread and leverage.

The tremendous initial deposit starts from $1,000. The brokers on the other side are providing the basic account starting from $50-$ 100. Thus, Capital GMA is charging almost 10 times the trending minimum initial investment in the forex industry. The leverage of the company is not matching with the commitment. The spread is not competitive for the trader to create at least a fair chance for earning profits. In addition to this, the loss percentage of traders is as high as 76%, which is very high as compared to the loss percentage considering normal risks involved in trading with any other broker.

Complicated deposit and withdrawals

The company accepts Credit/debit cards, bank wire transfer, and EFTpay. The non-appearance of the Skrill came as no astonishment as the Skrill has already adopted an anti-scam policy. According to this, the company has stopped providing services to the offshore unregulated brokers.

The company charges a withdrawal fee of at least $20. In addition to this, there is a maintenance fee of $20. Also, the profit clearance fee is charged between $1.50 to $5.00. There is $50 as a monthly doormat fee which is charged not after 6 months as per the competitor’s policy but it is charged after 3 months of inactivity only. The terms and conditions of the company clearly state that the charges can be changed according to the company only without any consideration or intimation to the company.

Terrible Trading Platform

Capital GMA does not provide trading through the reputed Meta Trader platform. It provides an online trading portal to the clients which are way behind the Meta Trader. It is a simple web-based platform without automated robots, trading charts or analytical methodological support to the users. The absence of a demo account along with MetaTrader creates a high risk involving the trading environment for the trader.

Meta Trader, since its introduction in 2004, is a technically advanced trading platform that is available on both desktop and mobile applications. It can be tailor-made according to the need and provides high-level trading security and safety. It provides trading signals and has provided its traders, the service of the technical experts in case of any issue.

Sadly, Capital GMA has kept the interest of its traders at the low side and is not able to provide even the basic and trusted, free of cost MetaTrader platform to its clients.


Weak Customer Support

The customers gripe about the weak customer support over the single UK based number provided by the company. In addition to this, a snail mail is provided. Over the mail, you can expect the response after 5-6 days, not before. The company is said to be Bulgaria based, with no regulation, then how do they have a UK number? No answer to that.


The Capital GMA has achieved 1 point on the 5-star rating scale. No regulation as a forex broker, along with blacklisting by reputed authority does not allow the company to be in the list of top forex providers. Feeble customer support with missing Meta Trader keeps it on a low lying side. The high fee and limited trading accounts with no option for demo accounts is not trader friendly too. Thus, it is not safe and thus I don’t recommend to trade with Capital GMA.

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