FX Renew Signals Review
- Headquarter : United States
- Regulation : None
Pros and Cons
- Regulated brokerage
- Regulated brokerage
- Few signals during London session
FX Renew offers a unique Auto-Signals program that allows clients to have FX Renew's real money trades instantly replicated in their MT4 account. In contrast to those using EA’s, robots and demo accounts, these Auto-Signals replicate trades placed by a licensed Forex money manager. A CFTC-registered IB & NFA Member, FX Renew never adds a mark-up to clients’ spreads and offers the Auto-Signals service free to clients who trade a live account with them. With valuable services, excellent client support and a transparent approach, FX Renew is redefining the way Forex is done.
FX Renew (LLC), based in Florida USA, provides forex signals, analysis and a daily trade room. The company is also a registered Commodities Trading Advisor (CTA) and a member of the National Futures Association (NFA).
Scott Nourse, the man behind FX Renew, is also the founder of Capstone Asset Management, a company that offers managed accounts in futures and forex for institutional and high-net worth individuals. Mr. Nourse holds Series 3 and 34 licenses and a B.S. in Economics. The FX Renew signals team is comprised of industry experts who trade the market 24 hours a day.
Being an NFA member does not guarantee that FX Renew’s signals will be profitable, but it does mean they will meet certain standards in the way they conduct their business. As a consequence of being an NFA member, FX Renew is unable to publish performance results in terms of pips as unregulated signals providers so often do. The best way of ascertaining the quality of their service is via their 30-day trial, which includes written signals, trade copier service (FX Renew pays those fees), the live trading room and access to the Members Section. It is a full trial.
FX Renew’s signal service comprises a mix of market analysis and signals. They provide clients with frequent analysis of a wide number of currency pairs, real-time trade ideas and online trading sessions where you can interact with Scott Nourse as you watch him analyze and trade the market. Entry trade signals are all done via the AutoSignals, which means they are placed automatically in clients’ accounts. In today’s volatile market, they believe this is the most effective way for clients to follow trades. It also gives clients freedom from the computer while allowing FX Renew to work for them.
FX Renew sends their market analysis via email or desktop pop-ups labelled “Market Updates”. In the 13 trading days we tested the service, we received 42 Market Updates, each between 100 and 200 words. It takes about 1-2 minutes to read each update and it does give you a good handle on what is going on in the markets. The analysis comprised a mix of technical and fundamental factors. Their analysis is simple: there is a focus on the major news events and their technicals do not use complex indicators or setups. Most people should be able to grasp the writer’s thinking quite quickly.
Trade Idea Signals
A second category of messages from FX Renew are their “Trade Idea Signals”: these are messages that give a long or short bias on a particular currency pair with some commentary and levels to watch. These ideas may or may not become AutoSignals Trades. We received 24 Trade Ideas in the 13 trading days.
As an Introducing Broker, FX Renew provides clients with back office services through Gain Capital. That means when you open a forex brokerage account with FX Renew, the execution of trades and the holding of funds will be handled by Gain Capital; a CFTC-registered Forex Dealer Merchant (FDM), NFA Member and is a publicly traded company on the NYSE. Because you will be opening through FX Renew, you will also receive support from FX Renew as well as Gain Capital, should you need it. FX Renew clients receive the same spreads offered to traders who go directly to Gain Capital; there is no mark-up which some IB’s charge. Commissions paid to FX Renew come out of Gain’s pockets, not yours. This creates a win-win for FX Renew and its clients as they can provide live account holders with discounted and free services.
The mere fact that FX Renew is the only signal service run through a company that is regulated by the NFA boosts our confidence in the system. AutoSignals allowed us to feel like we weren’t missing signals when we were away from the trading platform.Back to Top
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