Trader reports Axwel withdrawal issues and high-pressure tactics

A Reddit user has come forward with a detailed account of alleged forex trading fraud involving the platform Axwel (axwel.com). The poster, who says they invested approximately ₹49.5 lakh, claims they were unable to withdraw their funds despite the balance showing on the platform. According to the post, the experience followed a common pattern: a small initial deposit of around ₹20,000 in July 2026, followed by contact from an 'account manager' via Telegram who showed apparent profits, building trust. The user was then encouraged to invest much larger sums and guided to trade gold, silver, Tesla, Meta, and Netflix, with claims of AI-based analysis. When trades incurred losses, the manager allegedly instructed the user to 'average the position' by depositing more money to recover losses, which led to ever-increasing losses and a total investment of approximately ₹49.5 lakh.

The user reports that all communication was conducted through Telegram, with calls from various international numbers including UAE, South Africa, and India. The support team provided differing explanations for the withdrawal failure, but the funds were never released. The poster also notes that Axwel claims to operate through Flux Ltd in Comoros and mentions MISA regulation, but they could not verify the platform as an authorised forex trading platform for Indian residents.

This report highlights several red flags commonly associated with forex scams: unsolicited account managers, promises of high returns with AI expertise, pressure to deposit more funds to 'recover' losses, and withdrawals that are consistently blocked. The user has filed a complaint with the Cyber Crime Police in India, and an FIR has been registered.

For traders, this serves as a cautionary tale. Always verify that a broker is regulated by an official authority in your jurisdiction. For Indian residents, check if the platform is authorised by the Reserve Bank of India or SEBI.

Be wary of any platform that primarily communicates via messaging apps and uses aggressive upselling tactics. Genuine brokers do not pressure you to increase deposits to cover losses. If you encounter difficulties withdrawing funds, this is a major red flag.

To protect yourself, always start with small amounts you can afford to lose, research the broker thoroughly, and never trust profits displayed on a screen without attempting a withdrawal. Report any suspicious activity to local authorities and financial regulators.