Is Axwel a scam?

Axwel holds a licence from a body the Comoros central bank says has no authority to issue one, publishes almost no trading terms, and had no operating history when we checked. We rate it Scam.

The licence

Axwel is operated by Flux Ltd under MISA licence BFX2025069, at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union.

MISA is the Mwali International Services Authority. On 10 December 2025 the Banque Centrale des Comores published a communiqué, carried on the Comoros Ministry of Finance website, on the illegal exercise of offshore banking activities. It names MISA among structures issuing licences without authority, states that licensing banks and financial establishments falls exclusively within the central bank's remit, and records referral to the public prosecutors of Moroni, Mutsamudu and Mohéli.

Article 9 of the Union Constitution and Organic Law 05-003/AU place financial regulation with the Union rather than with any individual island. A 2010 IMF assessment reached the same conclusion.

So this is not a lightly supervised broker. It is an unsupervised one holding a document that looks like a licence.

What is not published

Axwel publishes a $250 minimum deposit and leverage up to 1:200, and then very little else. There is no published spread table, no commission rate, no swap schedule, and no withdrawal terms: no fees, no minimum, no processing time.

There is also no operating history. The company had been in existence a matter of months when we checked, which is not itself wrongdoing and does mean there is no track record of paying withdrawals to look at.

The shared address

Seven brands in our review set use the Bonovo Road, Fomboni address, along with the same Silver, Gold and Platinum account tiers, the same payment logo set and near-identical restricted-jurisdiction wording. Common ownership has not been established and we do not assert it. The pattern is worth knowing before you treat any of them as an independent firm.

How to check this yourself

Search for the Banque Centrale des Comores communiqué of 10 December 2025 and read what it says about MISA. Then ask Axwel which regulator supervises it, and where that regulator's public register can be searched.

The full rating and the sources are in our Axwel review.