Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighA genuine but near worthless Anjouan licence is in force to 4 August 2027, held by a different group company; the entity that takes client money admits it is regulated by nobody, and the claimed UAE licence is absent from that regulator's register.
Identity & transparency
7/10 · HighEntities, licence status and the Saint Vincent address are disclosed, which is to its credit, but the entity structure contradicts itself across its own legal pages and the Mexican base from which it is actually run is nowhere stated.
Withdrawals & conduct
8/10 · CriticalNamed clients on two independent platforms describe the same fund integrity failure from 2021 to 2025, with one transactionally detailed account corroborated by the client's bank; no verified payout evidence and no substantive company response.
Reputation
8/10 · CriticalNegative across every independent source we found, listed among brokers not recommended in Mexico, no Trustpilot presence for either domain, and a regulator sanction history including a cancelled Mexican registration.
Website claims
9/10 · CriticalThe client contract presents an application reference as a licence number from the UAE securities regulator, contradicted by the broker's own risk notice and by the register; the open deposit portal also contradicts the notice that no entity is accepting clients.
Operational history
5/10 · ModerateDomain presence since May 2019 but the oldest datable company only since August 2023, with the Mexican finance entity renamed twice and its registration cancelled; no founding year is advertised, so there is no age misstatement.
Who they are
A quick desk file on the company behind the brand.
- Brand: Axen Broker, part of the Mexican group Grupo Axen Capital, which also runs Axen Life, Axen Health, Axen Agro and other units.
- Legal entity (contracting): Axen Capital Ltd, incorporated in Saint Vincent and the Grenadines.
- Other group entities named in the contract: AXEN TRADING CURRENCIES IN SPOT MARKET LLC and AXEN LIFE DMCC (both Dubai), plus Axen Group Ltd (Anjouan, company number 34692).
- Registered: Suite 305, Griffith Corporate Center, Kingstown, Saint Vincent and the Grenadines.
- Where it actually operates: Mexico. The Mexican regulator sanctioned the group's Mexican company, the sales telephone numbers published alongside client complaints are all Mexican landlines, and users place the office in Morelia, Michoacan.
- Website: axenbroker.com, with the client portal at my.axenbroker.com and the group site at axencapital.com.
- Only confirmed licence: Anjouan Offshore Finance Authority L34692/AG, status Active, end date 4 August 2027, held by Axen Group Ltd.
- Offers: CFDs on forex, crypto, metals, energy, ETFs, indices, shares and non-deliverable forwards, on MetaTrader 5, cTrader and an in-house Axen Exchange, with PAMM, MAM and copy-trading accounts and leverage up to 1:100.
- Not accepted: residents of Australia, Canada, the United States, Japan, Russia, Turkey and about a dozen smaller territories.
- Age claim: none. The site advertises no founding year, which is to its credit. Press reporting dates the group to 2017 and the oldest of its domains to May 2019.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
SCA / Capital Market Authority (United Arab Emirates)
VARA (Virtual Assets Regulatory Authority, Dubai)
Found by our investigation (1) — the broker does not list these on its own site
AOFA (Anjouan Offshore Finance Authority)
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
The heaviest point comes from the broker's own contract.
- The client contract claims a licence the broker's own risk notice says it does not have. The Public Offer, which governs how clients are onboarded, states that AXEN TRADING CURRENCIES IN SPOT MARKET LLC is 'licensed by the UAE Securities and Commodities Authority (SCA) under license number LIC-0008119'. The Risk Notice on the same site says that company 'has applied to CMA for a Category 1 License (reference LIC-0008119)' and that 'The CMA has not yet granted this license'. Both statements cannot be true. An application reference presented as a licence number is a false statement of regulatory status in the document a client agrees to.
- The regulator's own register confirms the absence. The UAE Capital Market Authority's licensed-companies register can be searched by name and by number. There is no entry for any Axen company. The same search for a known licensed firm returns its records normally, so the empty result is a real absence and not a fault in the register.
- The company that holds the money is regulated by nobody, and says so. The footer states that Axen Capital Ltd 'no se encuentra autorizada ni regulada por ninguna autoridad de servicios financieros'. The one licence we did confirm, Anjouan L34692/AG, belongs to Axen Group Ltd, a different company. Anjouan is an offshore registrar rather than a working supervisor: there is no compensation scheme and no realistic route to recover client funds through it. So nothing stands behind a client's deposit.
- Clients report the same failure for four years running. Named users on two independent review platforms describe requesting a withdrawal and then receiving part of the balance or none of it, with the dates running from June 2021 to December 2025. One detailed account states that one third of the requested sum arrived, that the firm blamed the client's bank, and that the bank confirmed only the smaller amount had been sent. The mechanism is consistent and the accounts are independent, which is what matters more than the number of them.
Two further facts sit behind that. Mexico's CNBV sanctioned Axen Capital, S.A.P.I. de C.V. for using the name and activities of an investment fund without authorisation, and reporting in Mexican media describes a second, larger CNBV fine of 1,085,700 pesos in September 2025 for using expressions reserved to a licensed brokerage. Separately, the group's Mexican finance company was renamed twice, to Forza Nostra and then Miley Capital, and lost its Condusef registration on 11 October 2024 for failing to show that it had been trading. The brand carried on while the entity carrying the registration was renamed and then struck off.
We stopped short of a confirmed verdict for two honest reasons. The 2024 CNBV fine was annulled by a court, so it no longer stands as a finding against the company, and the larger 2025 fine is documented in the press rather than in the consolidated sanctions register. Also note that the track record figure rests mainly on the domain record: Saint Vincent does not publish a searchable company register, so the contracting company could not be dated, and the age we give is an upper bound.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The client contract states that AXEN TRADING CURRENCIES IN SPOT MARKET LLC is 'licensed by the UAE Securities and Commodities Authority (SCA) under license number LIC-0008119' and that clients are onboarded under that entity for spot and CFD trading.
E2The broker's own risk notice states that the same company 'has applied to CMA for a Category 1 License (reference LIC-0008119)', that 'The CMA has not yet granted this license', that VARA has not granted a licence to AXEN LIFE DMCC, and that neither entity is operational or accepting clients until the licences are granted. This directly contradicts E1.
StrongAxen Broker risk noticeE3The UAE Capital Market Authority licensed-companies register returns no entry for Axen, AXEN TRADING, TRADING CURRENCIES, AXEN CAPITAL or LIC-0008119. A control search for a known licensed firm returned its active records, confirming the register search works and the absence is real.
E4The site footer states that AXEN BROKER is a trading name of Axen Capital Ltd, incorporated in Saint Vincent and the Grenadines at Suite 305, Griffith Corporate Center, Kingstown, and that Axen Capital Ltd is not authorised or regulated by any financial services authority. The same site sells leveraged CFDs with up to 1:100 leverage.
E5Mexico's CNBV sanctions register records a fine of 179,240 pesos against AXEN CAPITAL, S.A.P.I. DE C.V., imposed 4 July 2024 for conduct in 2021, for using the name or carrying out activities inherent to investment funds without authorisation. The same record shows a nullity action was brought and the sanction was annulled outright.
E6Six named clients describe the same failure between May 2022 and June 2023: money not returned, withdrawal requests ignored, and positions reported as manipulated to create losses. The page concerns axencapital.com and names Axen Capital Ltd of Saint Vincent and the Grenadines.
E7Seventeen user comments about axencapital.com dated from June 2021 to December 2025, dominated by fund integrity complaints. One detailed account states a 1,500 dollar position grew over six months, that one third of the requested withdrawal arrived, that the firm blamed the client's bank, and that the bank confirmed only the smaller amount had been received. Users place the office in Morelia, Michoacan. The site's own replies are template text promoting a money-recovery service and were discounted.
ModerateEstafado complaint pageE8The client portal is live and open, advertising 'Make Flexible Deposits' with Log In and Create Account available, showing the unregulated Saint Vincent entity is actively accepting clients and deposits despite the risk notice saying no entity is operational.
ModerateAxen Broker client portalE9Mexican investigative reporting documents the Condusef cancellation of the group's SOFOM E.N.R. registration on 11 October 2024 under reference VPT/DGESPF/0446/2024 for failing to prove operations for more than four months, the renaming of Axen Capital SA de CV SOFOM to Forza Nostra and then Miley Capital, the 13 May 2024 change of officers, the named owners, and the Club Deportivo Guadalajara shirt sponsorship.
ModerateEmeequis investigationE10Reports a second CNBV fine of 1,085,700 pesos published in September 2025 against Axen Capital for using expressions equivalent to a licensed brokerage without authorisation, for conduct in 2024, and states the sanction had not been challenged or paid. This fine does not appear in the consolidated sanctions register.
ModerateEl CEO report on the CNBV fineE11A Mexican market analysis listing both CNBV fines and the Condusef cancellation, reporting monthly returns of 1.2 to 3.6 per cent promised to investors without any verifiable licence, and noting that the broker publishes neither a regulator name nor a licence number in its marketing.
ModerateRankia Mexico analysisE12The Anjouan Offshore Finance Authority register confirms a real licence in force: company Axen Group Ltd, company number 34692, licence L34692/AG, date of incorporation 4 August 2023, licence end date 4 August 2027, status ACTIVE. No website is recorded against the entry, and there is no Anjouan record for Axen Capital Ltd.
E13The CNBV's published notice of companies that lack authorisation to take money from the public names four firms, and Axen is not among them. No regulator warning naming axenbroker.com was found.
E14The group site presents Grupo Axen Capital as a consolidated hub for Axen Life, Health, Agro, Work, Mind, Energy and Broker, with a Great Place To Work certification for July 2026 to July 2027 in Mexico, and links to Facebook and Instagram. It shows no regulator, licence or registered address.
E15Domain registration dates: axencapital.com created 13 May 2019, axenbroker.com created 22 December 2021 and axentechnology.com created 27 June 2023. The axenbroker.com name servers are hosted on axentechnology.com, tying the three together.
ModerateVerisign RDAP domain recordsE16An independent broker directory records axenbroker.com with operating status Unregulated and High Risk Active, lists the entities AXEN LIFE DMCC, AXEN DMCC, AXEN TRADING CURRENCIES IN SPOT MARKET LLC and AXEN GROUP LTD, and reports no record found for the claimed UAE Securities and Commodities Authority licence and the Anjouan licence as the only verifiable one. This corroborates our own register checks.
ModerateBrokersView broker profile
The other side
The strongest case in this broker’s favour.
The case against this operation is not one-sided, and several points genuinely count in its favour.
- The group is real and publicly visible. Grupo Axen Capital runs several businesses in Mexico, sponsors the shirt of Club Deportivo Guadalajara, and holds a Great Place To Work certification for 2026 to 2027. This is not an anonymous shell with a stock-photo team page.
- The Anjouan licence is genuine. It is on the issuing authority's own register, in the correct company name, with a company number and an end date in 2027. Many operations in this category claim a licence that does not exist at all.
- Parts of the site are unusually candid. The footer states that the contracting company is not regulated by anyone, and the risk notice openly admits that both Dubai licences are applications that have not been granted. A deliberate deception would normally hide both. The site also advertises no founding year, so there is no exaggerated history to contradict.
- The one sanction on the public register was overturned. The CNBV record for the July 2024 fine shows that the company brought a nullity action and that the sanction was annulled outright.
- There is no warning notice against it. Axen does not appear on the CNBV's published list of companies that lack authorisation to take money from the public, and we found no regulator alert naming axenbroker.com.
- The complaint evidence has limits. The accounts are spread thinly across four years rather than clustered in one window, most give no amounts or reference numbers, and one of the two platforms hosting them also sells a money-recovery service, which gives it a commercial interest in scam allegations. We discounted that site's own editorial text and counted only what users wrote.
The reading that fits all of this is a real business with real revenue that has moved its trading arm offshore and overstated its regulatory standing, rather than a pure fiction. That is still not a safe place to leave money, because the overstatement is in the contract and the company holding the deposits answers to no regulator.
What would change this
What we would need to see to revise the verdict.
The verdict can change. Any of the following would move it, and the first two would move it a long way.
- The UAE Capital Market Authority register showing a granted licence for AXEN TRADING CURRENCIES IN SPOT MARKET LLC, with the number LIC-0008119 against it.
- Client contracting moved from the unregulated Saint Vincent company to an entity that actually holds a licence, with client money held under that licence.
- The Public Offer corrected so it matches the risk notice, and stops describing an application as a licence.
- Verifiable evidence that withdrawals are paid in full and on time, such as dated payout confirmations across a range of clients, or the complaint record going quiet for a sustained period.
- A published response from the company addressing the withdrawal accounts specifically rather than in general terms.
- In the other direction, a warning notice naming axenbroker.com from any regulator, or a fresh cluster of withdrawal failures, would push this to a confirmed verdict.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CNBV sanctions register, record for AXEN CAPITAL, S.A.P.I. DE C.V.
Mexico's regulator shows the fine, the conduct and the court outcome.
UAE Capital Market Authority, licensed companies register
Search Axen or LIC-0008119 here to check the claimed UAE licence.
Anjouan Offshore Finance Authority, licence verification for Axen Group Ltd
The one licence that is real, with its 4 August 2027 end date.
Axen Broker risk notice
The broker's own statement that the Dubai licences have not been granted.
Axen Broker public offer (client contract)
The document that describes LIC-0008119 as a licence number.
Frequently asked questions
Quick answers about this broker’s safety.
Is Axen Broker a scam?
We rate it a likely scam, at 76 out of 100 on our risk scale. The company that would hold your money says on its own website that no financial authority regulates it, and the client contract advertises a UAE licence that the regulator's register does not show. That combination is why we would not put money there.
Is Axen Broker a fraud?
No court or regulator has made a finding of fraud against it, so we do not state that as fact. We assess the risk of fraud as high. What we can point to is a false statement of regulatory status in the client contract, a regulator sanction in Mexico, and four years of client accounts describing withdrawals that were not paid in full.
Is Axen Broker regulated?
The company that contracts with clients, Axen Capital Ltd of Saint Vincent and the Grenadines, is not regulated at all, and says so in its own footer. One group company, Axen Group Ltd, holds an Anjouan licence numbered L34692/AG that runs to 4 August 2027. Anjouan is an offshore registrar with no compensation scheme, and it is not the company that holds your deposit.
Does Axen Broker really have a UAE licence?
No. The public offer says a group company is licensed by the UAE Securities and Commodities Authority under number LIC-0008119, but the UAE Capital Market Authority register returns no entry for any Axen company, and the broker's own risk notice states the authority has not yet granted that licence. The number is an application reference.
Can I withdraw my money from Axen Broker?
Named clients on two independent review platforms say they could not, or that only part of the balance arrived. The dates run from June 2021 to December 2025 and the described mechanism is consistent. We found no verifiable evidence of withdrawals being paid in full, so treat withdrawal as uncertain.
Is my money safe with Axen Broker?
No. Because the contracting company holds no licence, there is no requirement that client money be kept separate from company money, no compensation scheme if the business fails, and no regulator with power to order a payout. Recovery would depend on the courts of Saint Vincent and the Grenadines.
Who owns Axen Broker?
It is the trading arm of Grupo Axen Capital in Mexico. Mexican investigative reporting names Jonathan Yvan Olivares Martinez and Aurelio Castro Gonzalez as the owners of the group's finance company, with Dante Eludier Vargas Caro having resigned as president on 13 May 2024 and Daniel Gomez Castillo taking over.
How old is Axen Broker?
The group's oldest domain, axencapital.com, was registered in May 2019, and axenbroker.com followed in December 2021. The oldest group company we could date is Axen Group Ltd, incorporated on 4 August 2023. That puts the verifiable operating record at roughly three years, and because Saint Vincent does not publish a searchable company register, that figure is an upper bound.
Was Axen Capital fined by a regulator?
Yes. Mexico's CNBV fined Axen Capital, S.A.P.I. de C.V. 179,240 pesos on 4 July 2024 for using the name and activities of an investment fund without authorisation, for conduct in 2021. The register also shows the company challenged it and the fine was annulled. Mexican media report a second fine of 1,085,700 pesos in September 2025 for using expressions reserved to a licensed brokerage.
Why did Axen lose its Mexican registration?
The group's finance company, by then renamed Miley Capital, had its Condusef registration as a SOFOM E.N.R. cancelled on 11 October 2024 under reference VPT/DGESPF/0446/2024, because it did not show that it had carried out operations for more than four months.
Is Axen Broker a clone of another broker?
No. On the registers, none of the company names, licence numbers or the registered address belongs to a different firm. The Anjouan licence is genuinely in Axen Group Ltd's name. The problem is an overstated licence of its own, not a stolen one.
What is an Anjouan licence worth?
Very little. Anjouan, an autonomous island of the Comoros, sells brokerage licences cheaply and does not supervise the firms that hold them. There is no compensation scheme and no practical complaints route for a client abroad. Treat it as evidence that a company wanted to look regulated at low cost.
What should I check before depositing with any broker?
Find the licence number on the broker's own site, then type it into the regulator's public register yourself rather than trusting a badge or a link. Check that the name on the register is the exact company you will be sending money to, that the status is current and the expiry date has not passed, and that the register's permissions cover trading rather than advice.
What do I do if I already sent money to Axen Broker?
Request a full withdrawal in writing and keep every statement, receipt and chat log. If payment was by card or bank transfer, contact your bank straight away about a chargeback or recall, because time limits apply. Report it to the CNBV and Condusef in Mexico and to your own regulator. Do not pay any fee described as a tax or verification cost to release funds, and be wary of recovery firms that charge upfront.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since August 29, 2026
Several input facts moved since the last scan.
- Contracting entity. The company that signs up clients is now identified as Axen Capital Ltd, incorporated in Saint Vincent and the Grenadines at Suite 305, Griffith Corporate Center, Kingstown, rather than the Dubai company AXEN LIFE DMCC recorded previously.
- Anjouan licence now has a number and dates. It is L34692/AG, held by Axen Group Ltd, company number 34692, incorporated 4 August 2023, status Active with an end date of 4 August 2027.
- The Dubai position is now documented. The risk notice states that the VARA virtual-asset licence and the Capital Market Authority Category 1 licence have both been applied for and not granted, while the public offer still presents LIC-0008119 as a licence number.
- New domain. axentechnology.com, registered 27 June 2023, now provides the name servers for axenbroker.com.
- Mexican registration lost. The group's Mexican finance company was renamed to Forza Nostra and then Miley Capital, and its Condusef registration was cancelled on 11 October 2024 under reference VPT/DGESPF/0446/2024.
- Sanction outcome. The CNBV fine of 179,240 pesos imposed on 4 July 2024 is now shown on the register as annulled following a nullity action.
- October 9, 2026CurrentLikely scam76% risk
- August 29, 2026Confirmed scam90% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
Treat Axen Broker as unsafe for client money until the licensing picture is corrected.
- Do not deposit. The company that would hold your funds states that it is not regulated by any financial authority, so there is no ombudsman, no compensation scheme and no supervisor to complain to.
- Do not rely on the UAE licence. The number in the contract is an application reference. The regulator's register shows no licence for any Axen company.
- If you already have money in: request a full withdrawal in writing now, keep the platform statements, transfer receipts and chat logs, and do not send any further payment described as a tax, fee or verification cost in order to release funds.
- If a withdrawal is refused: raise a chargeback or recall with your card issuer or bank promptly, since time limits apply, and file a report with the CNBV and Condusef in Mexico where the operation is run from, as well as with your own national regulator.
- Be careful who you ask for help. Several sites that collect complaints about this broker also sell fund-recovery services. Paying an upfront fee to recover money is itself a common second loss.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 9, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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