Reported as a scam / unregulated
Why AXEL is on the register
According to its website, it claims to be a reliable platform and is registered with the Financial Services Authority of St. Vincent and The Grenadines (SVG FSA). However, as is known, the St. Vincent registration only grants International Business Company (IBC) registration, which does not constitute a valid financial license. In addition, the SVG FSA publicly states that it does not regulate or license Forex trading activities. In essence, AXEL is not regulated by any governing body. Entrusting it with investors’ funds is highly risky, as there are no legal protections in place to safeguard the funds. AXEL appears to be a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.