Last updated on June 14, 2020
Better late than never, BaFin obviously says to itself. The German regulator issued an investor warning and a cease and desist order against the illegal CFD broker CapitalGMA (www.capitalgmafx.com) on 9 June 2020. According to the information on the scam’s website, the broker is operated by Equalizer LTD (Equalizer Ltd EOOD) based in Burgas, Bulgaria. BaFin ordered Equalizer LTD to cease its cross-border proprietary trading activities immediately.
The CapitalGMA website is available to clients in German, Italian and English.
Already in December 2019 the Italian regulator CONSOB has ordered the black-out the scam. At this point it has to be questioned why the German BaFin needs almost 6 months to block a broker after the Italian CONSOB had already blocked (!) the site! Here a little more coordination between the regulators would be urgently necessary.