Axwel Review: Four Months Old, No Supervisor, No Published Terms
Axwel is operated by Flux Ltd, registration HT00625055 in the Comoros, citing MISA licence BFX2025069. The Banque Centrale des Comores named MISA on 10 December 2025 as issuing offshore licences illegally and referred the matter to prosecutors. Axwel publishes no leverage, spread or minimum deposit figures and has almost no operating history. We score it 2.1 out of 10.
Quick facts
| Legal entity | Flux Ltd |
|---|---|
| Regulator | MISA (Mwali, Comoros) |
| Licence number | BFX2025069 (MISA) |
| Headquarters | Bonovo Road, Fomboni, Island of Mohéli, Comoros Union |
| Minimum deposit | $250 |
| Maximum leverage | Up to 1:200 |
| Platforms | Web Platform | Mobile App |
| Instruments | Forex | Metals | Crypto | Stocks | Indices | Commodities |
| Segregated funds | No regulator requires it and none is evidenced |
| Website | axwel.comnot linked: see our verdict |
Why we rated it Scam
1. There is no supervisor, and that is not a technicality
Axwel discloses Flux Ltd, registration number HT00625055, at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union, holding MISA licence BFX2025069.
On 10 December 2025 the Banque Centrale des Comores published a communiqué, carried on the Comoros Ministry of Finance site, on the illegal exercise of offshore banking activities. It names the Mwali International Services Authority among structures issuing licences without authority, states that licensing banks and financial establishments falls exclusively within the central bank’s remit, and records that it has referred the matter to the public prosecutors of Moroni, Mutsamudu and Mohéli. Under Article 9 of the Union Constitution and Organic Law 05-003/AU, financial regulation belongs to the Union rather than to any single island, and the IMF said the same about island-level offshore bodies in 2010.
Strip the jargon out and the position is simple. Nobody supervises Axwel. There is no compensation scheme, no leverage cap, no client-money rule and no ombudsman. If a withdrawal is refused there is no authority anywhere with power to do anything about it.
2. Almost nothing about the offer is disclosed
Axwel advertises Silver, Gold and Platinum account tiers, smart risk management tools, real-time market data and three platforms. It does not publish a leverage figure, a spread, a commission, a minimum deposit, a withdrawal processing time or a withdrawal fee.
Marketing language is doing all the work here, and the numbers a trader would use to compare Axwel with anything else are absent. For a supervised broker that is a poor showing. For an unsupervised one it means there is no document stating what the firm owes you and no authority that could enforce one.
Source: axwel.com public pages and corporate disclosure, checked 2 September 2026.
3. There is no track record to assess
Axwel’s licence number carries a 2025 sequence and its public presence is recent. We found no substantial review history, no regulator warning and no complaint record naming it.
We are explicit about what that means. The complaints pillar is scored neutrally, not punitively, and nothing in this review says Axwel has mistreated anyone. But an absence of history is not reassurance either. Every firm that later turns out badly had no track record once, and the protections that normally cover a client during that period, a supervisor and a compensation scheme, do not exist here.
4. One of six sites built to the same pattern
Axwel shares its Fomboni address, MISA licence format, Silver, Gold and Platinum tier names, payment logo set and near-identical restricted-jurisdiction wording with CapPlace, TradGrip, FirstECN, BXB Markets and Airmarkets. We have not established common ownership between them and we do not assert it. The shared template is worth knowing, particularly given that two of those six have had their Trustpilot ratings removed for guideline breaches.
Who Axwel will accept
It states it does not offer services to residents of the United States, Canada, Russia, Iran, Iraq, North Korea or Myanmar. The United Kingdom and the European Union are absent from that list, so a UK or EU resident can open an account with a firm holding no authorisation in either place.
Questions traders ask
Is Axwel regulated?
No, not in any sense we recognise. Its MISA licence comes from a body the Banque Centrale des Comores named on 10 December 2025 as issuing offshore licences illegally, stating licensing is exclusively the central bank’s remit and recording a referral to prosecutors.
Is Axwel a new broker?
Its licence reference carries a 2025 sequence and it has very little public history. We found no substantial review record. A short history is not itself a fault, but with no supervisor and no compensation scheme behind it, there is nothing to fall back on while that history is being built.
What happens to my money if Axwel fails?
Nothing protects it. No compensation scheme, no segregation requirement, no named custodian and no supervisor with authority to intervene.
Sources
- axwel.com corporate disclosure: Flux Ltd, registration HT00625055, MISA licence BFX2025069, address and restricted jurisdictions. Checked 2 September 2026.
- Banque Centrale des Comores, communiqué on the illegal exercise of offshore banking activities, via the Comoros Ministry of Finance, 10 December 2025.
- Article 9 of the Union Constitution of the Comoros and Organic Law 05-003/AU; IMF assessment of island-level offshore financial institutions, 2010.
Answered in detail
Safer alternatives
Rated Trusted or Neutral against the same six pillars. These link to our own reviews, not to the brokers, and no broker can pay to appear here.