- Accepts U.S. clients
- Headquartered in Orlando Florida and regulated by the NFA (member ID: 0427268)
- President of the company hosts several unique hands-on live trading sessions each week at no charge for their live account holders as part of their belief in educating traders
- Offers a comprehensive FXRenew Pro platform with no-dealing-desk trading on a customizable, user-friendly platform
|Company Name: Fx Renew
|Regulation: CFTC and NFA
|Year established: 2010|
|Pairs offered: 24
|Min deposit: $250|
|EURUSD spread: 1 pip (variable)
|Smallest lot size: 10,000|
|Funding methods: Wire Transfer, check, credit card, Moneybookers
|Platform Info: MT4
|Dealing desk: No|
|Trading platform: FxRenew Pro
|Mobile trading: Yes|
|Web based: Yes, and downloadable|
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FX Renew, LLC is Commodity Trading Advisor and Introducing Broker headquartered in Orlando, Florida. The company is registered with the CFTC and are NFA members (ID: 0427268).
Advantages of Trading with FX Renew
The primary advantage of trading with Fx Renew is the professional guidance clients receive. As an advisor, FX Renew provides a live trading room inside its trading platform where clients can learn from and trade along with a professional trader. FX Renew is not a market maker and has no dealing desk. Instead, FX Renew's traders are focused on training clients and alerting them to the trades being made in the company's account. This guidance, along with personalized support from real traders, makes FX Renew a truly unique Forex firm.
FXRenew Pro Platform is the flagship platform of FX Renew. It offers no-dealing-desk trading on a customizable, user-friendly platform. In addition to a professional trading room built in, key features include tight fractional-pip spreads, 1-click trading, Autochartist software, and real-time streaming news. These characteristics make the platform a great choice for both advanced and inexperienced traders. FXRenew Pro also enables automated trading through a secure and stable connection with multiple order types. The web-based version of the trading platform, the FX Renew Pro Web offers similar capabilities, but is JAVA-based and enables trading without downloads.
FX Renew clients are also able to trade their accounts through their iPhone, iPad, Blackberry and other mobile devices. Traders can open and close trades, view charts and read news - all on the go.
FX Renew Pro is powered by Act Forex technology. As a registered IB, FX Renew white-labels its platform through Forex Club, a registered FCM. In other words, FX Renew is an advisory firm that trades its money in the markets with its clients, while leaving trade execution, customer funds, and back office aspects of the brokerage business to Forex Club. In this capacity, FX Renew can focus on advising clients in a straight-forward manner without the conflict of interest many brokers face - profiting directly from client's losses.
Deposits and Withdrawals
Account deposits and withdrawals are handled by Forex Club, and relevant terms and conditions apply.
While the analysis covered in the live trading room may appear advanced to some new traders, FXRenew staff lends itself to helping its clients build a foundation to grow from. At first glance, you might expect FX Renew to cater to only large accounts and expert traders. We were pleasantly surprised by the amount of attention a new trader receives. Their support team was available to us for questions during the live trading sessions and at other times. The website contains some beginner-friendly material, while there is room for expansion in this area. The FXRenew Pro platform is easy to work with, while both written and video tutorials are available to traders.
As a uniquely positioned broker, Fx Renew really is a different type of experience in the Forex market. While maintaining its focus on the training and success of clients, FX Renew's partnership with Forex Club means that your account will be maintained and serviced by a regulated FCM. By including its professionally-run trading room inside the platform, FX Renew makes professional guidance available to traders of all account sizes.
Due to the advanced nature of some of the training, FX Renew does appear to be slightly better suited for traders with some experience in Forex. However, we believe any trader who is willing to put in the effort to learn from them will find it a worthwhile investment of his or her time. The support given to new and experienced traders alike make the company an excellent choice for any trader who seeks a change from typical Forex brokers.
Comments on the FXRenew Review
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