Reported as a scam / unregulated
Why AXP is on the register
AXP claims to be registered in Iraq and states it is licensed by the Iraqi Ministry of Commerce. However, the Iraqi Ministry of Commerce does not regulate forex or financial trading activities. In fact, Iraq currently lacks a dedicated, robust regulatory framework for retail forex trading, and any entity offering such services from within Iraq should ideally hold authorization from a reputable international regulator to ensure credibility and client protection. AXP also claims to have offices in the United Kingdom and Lebanon. Yet, our checks with the UK Financial Conduct Authority (FCA) and Lebanon’s Capital Markets Authority (CMA) found no record of AXP or its stated legal entity, AX Financials Limited, in either regulator’s official registers. As a result, AXP operates without oversight from any recognized financial authority. Therefore, AXP 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.