The Belgian regulator Finance and Markets Authority (FSMA) blacklisted the notorious by now forex broker company OmegaFX due to suspicions it is involved in a scam.
The FSMA also issued the following statement: “OmegaFX is not, however, authorized to offer financial services and products in Belgium. Moreover, the system proposed by Kuvera exhibits features characteristic of a pyramid scheme.”
The regulatory bodies of the UK (FCA – Financial Conduct Authority) and Austria (FMA - Financial Markets Authority) have also warned about this broker in the past due to its scam operation which appear to be largely targeting young people.
I always find it very disheartening that all these regulatory bodies issue warnings against alleged scammers, but the scammers continue their operations as if nothing happened. It often takes years for authorities to find them and arrest them, if it happens at all.