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FxRenew Review

Current Offer: Free live trading sessions with an expert

Min. Deposit $250
EURUSD Spread 1 pip*
Regulator NFA
US Clients? Yes
Platforms FXRenew, MetaTrader4

Background

FX Renew, LLC is Commodity Trading Advisor and Introducing Broker headquartered in Orlando, Florida. As an NFA member, with ID (0427268), FX Renew is a fully-regulated broker subject to the oversight of the CFTC.

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Features

FX Renew has a unique position among Forex firms. As a proprietary trading firm, FX Renew trades its own money while providing guidance and advice to its clients. 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.

Unlike traditional brokers, FX Renew is not a market maker and has no dealing desk so it cannot profit directly from client's losses. Eliminating this conflict of interest is critical for FX Renew, as its trading platform includes a live trading room led by FX Renew's President. Clients access the room to hear real-time analysis and watch his charts as he trades the company's account.

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Platforms

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.

The popular MetaTrader 4 platform is also available.

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.

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Deposits and Withdrawals

All client deposits and withdrawals are handled by Forex Club. Forex Club is a registered and regulated U.S.-based broker (FCM) in good standing with the NFA.

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Customer Support

Customer support is a top priority at FX Renew. By allowing Forex Club to manage back office responsibilities, customer funds and trade execution, FX Renew devotes its time to developing a personal relationship with its clientele; helping clients analyze the market and find trading opportunities. The trading room and signal service are a big hit with many, but may be overwhelming at first to some brand new traders. FX Renew's clients also have 24-hour access to Forex Club support.

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Conclusion

Perhaps the best reason to open an account with FX Renew is a break from the status quo. The company's unique position in the market and approach with their clients is something not seen regularly. FX Renew has found a way to provide traders of all account sizes access to professional training and guidance at no extra charge. The personal approach they take in knowing clients also stands out in the Forex industry. We were impressed that the President of the company spends countless hours in the trading room each week, allowing clients to "look over his shoulder" as he trades the company account. This approach may be more geared toward the experienced trader over novices, yet new traders are not left out.

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Best Features

  • Accepts U.S. traders
  • $250 minimum deposit
  • Regulated by the NFA
  • Free live trading sessions with expert
  • Customizable and user friendly platform

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