Renko Kings Review: A Scam Indicator for Day Trading?

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Renko Kings Review
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Summary

Renko Kings review: A pricey trading indicator with no third party verified trading results is not a good bet. Read this review to find out why we’re not recommending this trading software today.

Welcome to the Renko Kings review.

Renko Kings is a trading indicator for day traders who are interested in trading Forex and Commodities in the spot market.

The developer of this trading indicator has stated that their software prints simple and clear entries in addition to providing automated trade management.

This is to mean that Renko Kings is defining risks and targets appropriately without the intervention of the user, even though it’s still a manual trading system.

In addition to this, the vendor has included a Platinum package where traders can enjoy bonuses like audio announcements for entries, Proprietary Trending Logic Algorithm and Bar Close Indicator.

Renko Kings review

Renko Kings indicator is a product of Renko Kings Inc, a company that appears to be based in the US.

Their marketing materials suggest that the person in charge of this product is called Dave.

Their trading background is not yet known but in the website’s FAQ page, Dave claims that they used to run a live trading room.

And of course there’s no trial. For that reason, this Renko Kings review should help you make up your mind once you read the most important parts of our review.

Renko Kings review

Vendor declares that the “financial freedom” of their customers start with Renko Kings trading indicator.

This is quite far-fetched and to some extent not believable since many vendors who sell trading software are always making such statements.

There are 3 different types of licenses. The main license (platinum license costs $1695). If a trader wants to add a second license, he must pay $2140.

The third license costs $495. A trader cannot purchase the third license without owning the first license.

Renko Kings website also claims that they’re equipping traders with all the basics of professional trading so that traders don’t have to depend on chat room gurus.

They claim to provide coaching on the following areas:

  • What markets to trade
  • How price moves
  • How to place an order
  • Risk management
  • Suitable trading hours

And so much more…..

We presume that these lessons are offered through the actions of the Renko Kings indicator itself since there’s neither a chat room nor learning materials to explain this stuff.

The developer also claims that they paid a coder to program their trading rules into an indicator since they could not stick to their own rules in trading.

By making this statement, they’re suggesting that Renko Kings trading indicator was created by someone who has been trading for a while.

The fact that they were not following their own rules of trading means that they were definitely failing in their game.

So they want to show us that since their rules of trading were coded into a software, they can at least “enjoy success”and even sell licenses.

The sales page does not provide information about the trading strategy or methodology other than to say that this indicator is relying on Renko charts to trade the Forex and commodities market.

We’re certainly the kind of people who appreciate this information when presented to us.

It is not enough to state the benefits of using Renko charts and then push people to buy costly licenses.

Renko Kings review: Details of the software in a nutshell

  • Trading platform: NinjaTrader (additional fees may be required)
  • Type: Trading indicator
  • Price: $495 to $2140
  • Assets traded: Forex and commodities

The pricing of this software is beyond the reach of your average Forex trader and until this developer proves the worth of their software, it’s going to be an uphill task convincing users to buy.

To prove the worth of this software is to provide third party verified trading performance. We would then seek any feedback from the public regarding Renko Kings trading indicator.

Trading performance

Neither is there a trial nor trading performance.

The vendor expects traders to take a risk just like that without having any solid information inspiring their purchase decision for this software.

Their FAQ page claims that there used to be trial but people started abusing this trial and therefore the vendor stopped offering any trials.

This is not a very convincing statements since the vendor can remotely restrict the use of their software after a specific period of time.

And if providing trials is an uphill task, they would have at least ensured that trading performance is available for our viewing pleasure.

It appears that providing trading performance is the most difficult thing to do if you’re a non-transparent vendor.

Some of the vendors we have reviewed like Forex Gold Alerts and many others are even trying to cut corners by providing trading results that are unverified.

We don’t know about you but for us, we can’t risk any amount of money on a trading indicator because the developer said it was profitable.

There need to be more than that.

Renko Kings reviews

A forum called Futures.io has a thread on Renko Kings indicator.

The title of this thread is “Renko Kings exposed”. One user raised a concern similar to the ones we’re raising in this review.

The rest of the participants in that forum don’t sound like they’ve used this indicator at all. So we suggest that you stick to our Renko Kings review as we’re more insightful regarding this matter.

Conclusion

We’re not recommending this trading indicator for the simple reason that there’s no trading results and it’s one of the most expensive indicators around.

We also don’t know what type of trading experience the owner of Renko Kings indicator has. We’d like more clarity before we can risk any amount of money on this software.

Thanks for reading our Renko Kings review. We need your feedback as well regarding this matter. Welcome to the comment section.

TopedgeFX Team

We're a team of informed traders from the US, UK and Australia who love to hunt investment scams and bogus trading products hawked by Forex gangs and criminals.

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