Livetrader.io Review: Scam Crypto Trading Bot and Terminal? - Topedgefx.com

Livetrader.io Review: Scam Crypto Trading Bot and Terminal?

Those of you who would love to trade altcoins will find out that there are many options such as SuperOrder.io, Gunbot, Gimmer, Livetrader.io (not livetraders.com) and so on.

There’s a lot of competition in the Crypto trading bot industry. So now we’re reviewing Live Trader Crypto bot whose website is Livetrader.io.

Most traders wonder whether Live Trader bot can be profitable in the long run. They offer a 7-day free trial, plus the user interface and features have been praised.

However, not a single trader has affirmed that LiveTrader.io is offering a consistently profitable altcoin trading bot.

On the other hand, Livetrader.io advertises on their website that they are intending to help traders who find themselves consistently on the wrong side of trades.

Live Trader is supposed to offer these traders a competitive edge in trading.

The question is whether this is a profitable Cryptocurrency trading bot. There’s a free trial but the intention is to get traders to pay for the premium version which costs $15 per month, $39 per month or $79 per month.

Of course premium license gives access to additional features like number bots and strategies that can be used.

Livetrader.io review

The website of Live Trader Cryptocurrency trading bot looks quite simple but the bot in question sounds like a very complex trading tool with numerous features.

The company is currently maintaining this Twitter account but the last post was done in March of this year.

Live Trader does not disclose who runs the platform or where the company is based at. They’re probably assuming that this information is not helpful.

However, they are making it crystal clear that this is a trading terminal for Cryptocurrencies where other traders build strategies and post them in their marketplace.

All traders have the freedom to create their own trading strategies and even backtest them.

Livetrader.io provides this ability by incorporating a number of trading indicators such as SMA, RSI, social sentiments into their platform.

Traders who are not technical or do not wish to tinkle with the trading indicators can simply pick a strategy of their choice in the marketplace.

If they feel lost, LiveTrader.io is offering support to help them find their way through the platform.

Also, since trading of Bitcoin and altcoins happens 24/7, this Crypto bot will work round the clock while you sleep or do other things.

Among the Crypto exchanges that are compatible with Livetrader.io include Poloniex, Bitfinex, Bitstamp, Kraken, KuCoin among others.

This essentially means that traders with live accounts in any of those exchanges can use Live Trader bot by connecting to their exchange using the bot’s API functionality.

LiveTrader Bot review: other features

The developer claims that they have used real-time data feature from more than 150 sources so that traders can get a clear view of the Cryptocurrency ecosystem.

With historical data, traders can also test and optimize strategies to see how the bot will perform in various market conditions.

And of course this can be done in one dashboard to keep all things under one roof.

At this point, we should be making up our mind to establish whether LiveTrader is worth subscribing to or not. This takes us to the pricing plans that Live Trader is offering.

LiveTrader.io pricing plans

There are 3 plans dubbed starter, advanced and professional.

LiveTrader pricing plans

The starter plan gives access to 20 bots only while the advanced and professional plans provide access to 250 and 1000 bots respectively.

The number of strategies also vary as starter plan provides 1 strategy while advanced and professional plans offer 5 and 10 strategies so far.

Based on this information, I believe that the starter plan is a bit limiting and one would be better off subscribing to the advanced or professional plan.

I wish they had included at least 3 trading strategies in the starter plan so users can decide whether or not upgrading for more trading strategies is a worthwhile course.

Apart from this, the developer has also restricted the number of bots that can be used per trading strategy.

Again the starter plan provides 20 bots per strategy while the other plans offer 50 and 100 respectively.

Strategy complexity is also determined by the type of plan you choose.

Traders of various experience will want to select multiple triggers according to the strategy. Now, the starter plan only allows 4 triggers.

The other two provide access to 10 and 20 triggers respectively.

Still, Live Trader differentiates these plans based on things like candlestick intervals, AI insights (coming soon) among other things.

The dashboard

The one thing that traders praise is the user interface and the selection of features that are found on the dashboard of the Crypto bot.

LiveTrader features and dashboard

They claim it’s intuitive but it’s also not clear whether they have been making consistent profits with this bot. Most of them sound like novice traders who believe that LiveTrader.io is offering the holy grail of altcoin trading.

I’ve checked out the dashboard and found out that nothing was extra ordinary. If anything, the trading dashboard is supposed to look exactly like what I see on Live Trader.

I should be able to manage all my trading activities from this one dashboard.

Trading activities should include strategies that I am creating or using for trading, back tests, exchanges that I am working with etc.

Should you use LiveTrader.io?

This Bitcoin trading bot is designed for purposes of making work easier. If you already know what you are doing, you can realize some advantages.

But we know that most traders who approach Livetrader.io are novice traders. They want to think that this platform will guarantee them profits which is not the case.

I personally don’t believe in trading indicators because they tend to lag behind. I would rather rely on price action trading rather than the use of trading indicators.

Conclusion

Pricing is ok but you must know that majority of people who use LiveTrader.io bot won’t find it very profitable unless they copy the strategies that professional traders publish in the market place.

Live Trader claims that they allow traders to post their trading strategies and verify returns as well. They also claim that their experts will keep optimizing these strategies to make them more profitable.

Whatever the case, I would urge traders to use the 7 day free trial. Even then, this is a very short time to try the altcoj markets with a bot.

Perhaps a 1 month period would be sufficient. Also, I am a little bit hesitant because I’ve not seen any review from someone who claimed that they made money with this bot.

Now, drop your comments if you have something to say regarding this LiveTrader.io review.

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