The Belgian Financial Services and Markets Authority is warning investors to be wary of Kuvera Global, which irregularly offers investment services in Belgium.

Kuvera, on the website www.kuveraglobal.com, offers Belgian HNWs 'tools' and training designed, ostensibly, to help them trade in forex products, virtual currencies and equity. The users are also supposed to have access to investment advice using these 'tools.'

Kuvera mainly targets young people. It offers its members advantages and compensation that increase with the number of new members they recruit.

Kuvera is not, however, authorised to offer financial services and products in Belgium. Moreover, the regulator says that "the system proposed by Kuvera exhibits features characteristic of a pyramid scheme."

Kuvera has also been the subject of warnings by the French supervisory authority, the AMF, and by the Spanish supervisory authority, the CNMV.