FXWW update: Funding programs, information portals, and signals

  • We are about to launch the Axi Select incubation program in coming days. This program is fully funded by Axi Corp and independently managed by FXWW. We know that the next generation of superstar trader will come from the ranks of the current retail trader, and we intend to find them. If you have registered with FXWW already, you will receive full details of this program via email. If you haven’t already done so, then register your interest here.
  • The FXWW chatroom on Reuters Messenger is a service which will suit the serious FX trader who likes to keep up with all bank research and market talking points. You can register for a free trial here.
  • We are also about to launch a news/data/charting portal in partnership with Thomson Reuters. If you sign up for our newsletter or register for any of our products/services, we will keep you abreast of developments here.
  • On the signals front, we have partnered with FX Renew to provide non-automated trading signals. The FX Renew team take signals from the FXWW network of professional traders and mentor retail traders in how best to optimise these signals- trade size, p/l management, trade frequency etc.
  • Our premium automated signals will comprise of a small number of very high profile, well established professional traders of impeccable repute. This program is currently in test phase.
  1. It is written on the FX Renew website front page: “Get only the best forex signals from bank and hedge fund traders.”

    Isn’t this a collosal fraud? Since no bank trader would dare advertise a position unless he (or she) wanted the SEC and every other regulatory body to investigate…and I’m sure that hedge fund traders making their positions public is also frowned upon, although for difference reasons. Compliance is a bitch, no?

    Of course, this also assumes that there are bank traders who take positions per se these days — something that I hear is rare.

    I suppose what I’m saying is this: Level with us. What is the real advantage of this service? Why is this better than eFX News or any myriad of free services offered by all three of my brokers which publish third party research from BNP, Morgan Stanley, GS, BofA, Saxo, etc….

    Also, I’ve registered my interest, but I believe I’ve received all of one email from you — it was in fact rather dismissive…


  2. I’m sure the team at FX Renew are well capable of responding to this themselves. But personally I will say that making such incredibly serious allegations in a public forum based obviously on lack of market knowledge, and lack of product knowledge, is a low act indeed. If you are really serious about ensuring that the market is protected from unscrupulous operators, then start by doing proper investigations. Throwing dirt at honest businesses only muddies the water and allows sharks to hide.

  3. Is it not prudent for me to ask the question? Compliance rules are different than they were 10 years ago. Bank traders and hedge fund traders just can’t come out and start chatting about their position on a public forum. Is this not true? Please answer. Yes, or no.

    A serious thing, indeed.

    I am highly skeptical of anyone claiming that they offer anything linked to real bank or hedge fund traders in a retail environment.

    So let’s have some proof. Or are they just the same guys writing technical newsletters for their retail clients, as posted on eFX News, FX Street, et al.

    If they are different, than just say so.

  4. Hello Jay and Sean,

    Re: FX Renew.

    FX signals from people with a proven track record and loads of industry experience?

    YES PLEASE 🙂 And I’ll have seconds.

    Fx signals can be extremely useful – but as you know there are no free lunches in fx… do your homework, make your plan and trade it, and use these signals for confirmation.

    Once again congrats Sean, what you’re doing for the community is just incredible.

  5. Buddy of mine informed me that @nanexllc just tweeted this:

    12/11/2014 14:06
    FCA said Citi also engaged in triggering client stops – and shared innformation with traders AT OTHER FIRMS.

    So what the heck is going on here? Who are all these vendors, and how will we know if they are credible? Anyone can put up a slick website and cherry pick information from Reuters and Bloomberg, and then package them as “signals”. Are these real traders who are working at banks and hedge funds, as the advertising directly states? Or are these people who have merely worked at a bank or hedge fund at one time? Or are they people who know merely know bank or hedge fund traders?

    This whole thing is incredibly opaque, with a lot of salesy double-speak. And frankly it is worrisome.

    I’m waiting for a substantive response, not just garrish “YES PLEASE I’ll have seconds of THAT” palaver (incidentally, from another vendor!).

  6. Hi Jay and Sean,

    I’m not sure I like where this discussion is going… and I’m not sure I should even reply, I just want this thread to go away lol

    I really appreciate when views are exchanged in a civilized manner and seeing this discussion on this site saddens me a little bit.

    Jay, I would like to bring your attention, respectfully, to what Sean said earlier… this is a fact… you lack product knowledge. Please don’t mistake your assumptions for facts.

    You ask pertinent questions but be mindful of how you ask them…

    And calling me a vendor? Me? If you wish to know what I really do, you could ask, and I’ll open up and be as transparent as I can be. But I’m certainly no vendor.

    I’ll go back to trading lol

  7. Link: http://dealbook.nytimes.com/2014/11/12/british-and-u-s-regulators-fine-big-banks-3-16-billion-in-foreign-exchange-scandal/?partner=rss&emc=rss&_r=1

    As for product knowledge, what “product” are you referring to? FX? If so, then I know enough.

    If you are referring to products that aggregate the trading info of persons working on commercial or private trading desks, and who participate in chat rooms, then obviously my questions above suggest that I’m not assuming anything. Are they really bank traders? No answer. Are they legally allowed to provide signals? No response. And I doubt it. Very troublesome.

    I would like an answer. So far, I’m not getting any.

  8. I am one of the owners of FX Renew.

    One of the traders is ex-bank and one works at a hedge fund. They don’t share what the bank is doing. They use their experience to pick good signals. Yes, we are licensed by ASIC to provide signals. It’s all on the FX Renew site so not sure what the problem is.

    Please note I won’t be responding further to this thread as I don’t really find it very useful.

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