Signals Review: FX Renew

FX Renew is a Forex signal provider that claims to be successfully helping traders since 2010. In addition to their signal services, the product line also includes training, coaching, free courses and a few other additional resources to help traders find their way in the Forex marketplace. They feel that through “immersion with X industry traders,” that they are able to develop consistent traders via their signals and education programs.

These services are owned by Sam Eder, and Justin Paolini. Sam has been trading since 2007, and Justin actively helps traders the coaching and in the system development workshop that they offer. It’s also worth noting that Sam is a regular contributor on FXStreet, and sells his book “The Consistent Trader” on Amazon. This trading group is located at Level 14, 309 Kent Street, Sydney NSW 2000, Australia, and can be contacted via phone +02 9994 8989, or email hello@fxrenew.com.

FX Renew Review

There are 4 ways traders can benefit from the FX Renew services. Through their trading signals, coaching, training courses and custom-made Forex indicators. The main aspect we will be covering today is their Forex trading signals, as this is the backbone of their business.

The vendor provides 10 to 20 signals per month, with 3 different trading strategies that target specific trading times. Signals are sent “at the London Open, at the New York Close and during key News Events.” They feel it’s important to provide a variety of trading styles including intraday, short-term and medium-term trades so that diversity plays a major role in their approach. The signals currently come with a 7 day free trial, so traders can feel out the service, and decide whether or not it suits their needs.

Forex Signal Types

Now let’s take a look at each of the different signals FX Renew provides.

London Open Signals

Right before the London open, 1 to 3 signals per week are sent using a trend momentum based strategy. The signals are sent via email and through a private Twitter account, that only members can access. Updates on these trades are sent throughout the day, informing traders on how to manage the current trades based on the market behavior. For example, the vendor will provide short-term profit targets, but depending on the market, the signals can “morph into multi-day positions.”

It is good to see that the vendor isn’t static with their signals, and looks to extend trades when necessary in order to try and secure larger profits, or avoid substantial losses.

NewsFlow Signals

This strategy offers 4 to 12 trades per month based on “Central Bank meetings, Inflation Reports, Retail Sales and Employment Reports.” These trades are planned in advance, as an analysis sheet is sent to the trader one day in advance of the potential trade. Most of these trades are traded in the “Trading Tribe Chatroom,” which is an area of the website accessible to members only.

This is certainly an interesting approach, and not something we frequently see from Forex signal providers.

End Of Day Signals

The EOD strategy provides traders with 1-6 signals per month sent at the New York close. These signals use 3 different types of setups, “low-volatility breakouts, pullbacks within trending markets and key reversals.” These trades can last anywhere from 1 to 2 days up to several months depending on the market conditions, and the projections provided by the trade analysts.

It’s quite clear that the signal approach from this vendor is very unique, and not something we see regularly in our Forex signal provider reviews.

Signal Details

• Type: Forex Signals
• Price: AUD $99/Month or AUD $799/Year
• Strategy: Multiple
• Signal Frequency: 10-20 per month
• Pairs: Undisclosed

The FX Renew service is on the more expensive end of Forex signal providers, but considering their long-term approach, it’s really not a surprise that they are aligning themselves as a premium product. It’s worth noting again, that the service does provide a 7 day free trial, which I certainly recommend testing before you sign up. They don’t mention whether or not coaching, or training is offered as a part of the service or not.

Trials are common, and a helpful addition to every signal service, as we can see in our current reviews of Ultimate Forex Signals and Forex Lens.

Signal Performance Results

It’s quite surprising that the FX Renew does not provide in-depth trading results. The only performnace report provided, is a line graph that tracks their progress from September 2017, until now. The vendor does not provide any trading statements showing their exact signals, nor do they provide any verified third-party trading results on Myfxbook or any other statement sharing service.

Considering the trading signals are all available in their private twitter account, I believe that it’s imperative that they increase the level of transparency that they are currently providing. We should be able to see it least 6 months of live trading results before we sign up with the service.

Conclusion

it’s quite clear that the FX Renew vendors have a fair bit of knowledge of the Forex marketplace. This is apparent due to the amount of information in their blog, their free trading courses, and the fact that one of the main contributors of the software has published a Forex trading manual on Amazon. The service itself includes multiple different strategies, and signal types which is something we rarely see in this marketplace.

So, while the service is certainly unique, and deserving of praise, they are lacking in one major area. The vendor does not provide verified trading results. Hopefully this is something that they can clear up, as uploading an account statement to Myfxbook takes less than 5 minutes. Until then, let’s wait and see what the community has to say.

If you have anything you would like to add to the review, please leave your questions and comments below the article now.