LiveTrader Review 2022
The massive growth of the cryptocurrency trading market has become one of the most viable methods of earning profits by daytraders.
The problem with cryptocurrency is similar to that of traditional trading markets in that no trader can be stuck looking at their computer or device screens all day long just to execute trades.
The desire to have more freedom from screen time, while still trading in the crypto market, has given rise to the cryptocurrency trading bot industry.
The use of this technology has helped millions of daytraders, professional and novice, to trade in the digital assets markets and still have a life.
Another issue that has arisen due to the rise in crypto trading bots is the challenge of finding one that is safe, secure, and useful to traders at every skill level.
The following review of LiveTrader will give you the information you need to determine is this is your ideal trading bot.
Top-rated Crypto Trading Bots
How Long Has LiveTrader Been In Business?
First, you should know that LiveTrader is categorized as an automated cryptocurrency trading bot. Its trading is based on customized and preset strategies.
The algorithm allows the bot to buy and sell digital assets according to the market conditions.
In February 2019, the LiveTrader bot was introduced to the public. Therefore, it is considered one of the newer ones in the industry compared to other trading bots.
Even though it is a newcomer, it is still gradually gaining in popularity among traders who desire using third-party automated processes to enhance their trading.
Via automated trades, this bot can offer its users a level of peace of mind that allows them to walk away from their computer screens with less worry about what is happening with their trades.
LiveTrader, like trading bots do, operates on your behalf night and day according to your instructions.
Ever since it was established, LiveTrader has built a good reputation among those in the cryptocurrency community. It is currently focused on prioritizing its services and its customer support.
Mostly, it seems that LiveTrader is gaining ground as their efforts start to produce great results. The clean interface and variety of functions are appealing to daytraders, so it is getting ample recommendations from them across the crypto community.
Being new to the industry, LiveTrader does not support the vast array of exchanges that some of its counterparts can.
That said, it does have plans to support an extraordinary roster of cryptocurrency exchanges in the future, it supports only Binance for now.
Binance is one of the top crypto exchanges, which should pose little to no issues with getting clients.
Some cryptocurrency exchanges the company plans to support in the future include Bitstamp, Bitfinex, KuCoin, Poloniex, and Kraken.
LiveTrader offers three packages that can be billed either monthly or annually. There is a 7-day free trial for each package.
The discounted pricing is 20% lower when you opt for the annual pricing option over the monthly subscription rate. That is deducted at the time you pay for it.
All three LiveTrader packages offer indicators and unlimited positions.
You will have access to their supported exchanges, which includes those as the roster grows on this platform.
Besides getting unlimited positions and all the available LiveTrader indicators, you will get access to 20 bots, 4 triggers, and one strategy at a cost of $19.00 per month if you choose the monthly billing option, or $15.00 when you choose the annual billing option.
The Advanced package also includes unlimited positions and access to all indicators, plus 250 bots, 10 triggers, and 5 strategies, and real-time analysis.
The discounted annual billing is $39.00 per month, and the monthly billing option is $49.00 per month.
This package is the highest in the tier, but it is also LiveTrader’s most dynamic option. You get the promised unlimited positions and all indicators, plus 1,000 bots, 20 triggers, 10 strategies, and real-time analysis.
You get this at a monthly billing price of $99.00 per month, and the annual billing is $79.00 per month.
Every package comes with LiveTrader’s standard features, which include preset and custom strategies, backtesting, paper trading, and market anomaly detection.
They do have some new features that will soon be available, and are under development, which will be included with the respective packages.
Top-rated Crypto Trading Bots
Ease of Use
LiveTrader’s user interface is simple, neat, and free from unnecessary clutter. Because of this, using this trading bot is a piece of cake.
It boasts a comprehensive dashboard that offers visual cues for the trader. This is what makes the various pieces of information easier to comprehend.
It also ensures that novice and professional traders are in the loop of all details regarding their accounts and their trading strategies at a glance.
Aside from the amazing dashboard and the innovative visual cues, traders may also apply predefined crypto trading strategies, or easily set their own custom trading strategies.
Virtually every process in the bot is simple and concise, making it easy to understand and to use. You do not require any specialized knowledge of computers or coding. If you do, you can use them as well.
Anyone who uses a computer for basic functions can navigate and utilize LiveTraders’ web application in the cloud.
LiveTrader’s Available Settings
When LiveTrader was in development, the developers had professional daytraders in mind. That is why it offers sophisticated settings for its clients.
Traders can set up their technical indicators, which include, but are not limited to, the following:
- SMA – Simple moving average
- MACD – Moving average convergence/divergence
- RSI – Relative strength index
Also, you can use a variety of order types like trailing stop loss and stop loss.
With these resources, traders can make use of the predefined strategies or automated strategies. Via the bot’s strategy marketplace feature, you can browse the available strategies and apply them to your bots.
When an individual decides to design their own strategy, it is simple to do within the settings of the bot program.
LiveTrader’s algorithms pull data from more than 150 sources to allow traders to know the market conditions from a number of perspectives.
That way, they can make informed trading and strategy decisions without the need to use different platforms or click through several browser tabs.
LiveTrader is a web-based trading bot that is hosted on a secure server. Traders have access to it through a web application.
Therefore, there is no downloading or installing a computer program that could potentially create a security issue on the user’s system.
Also, LiveTrader does not require permission for withdrawal of funds from its clients’ exchanges. Your funds are safe with extra security precautions.
One thing that we hope they add in the future is 2FA, two-factor authorization, for an extra layer of security and peace of mind.
LiveTrader’s Customer Support
Premium customer support is one of the solutions that make LiveTrader stand out. You will be using the support ticketing system from the website.
While use is limited on social media, LiveTrader does have a presence on Twitter, Discord, and Facebook.
With its limited user base, these are currently seldom monitored. Hopefully, as they grow, they will reconnect these platforms.
If you really want to gain insights about this trading bot, they have an extensive blog loaded with information about it and its features. However, they have dropped the ball, so far, by not having a loaded knowledge base.
As is common with trading bots, LiveTrader does not make any promises related to profitability. Technically, that would put them in a pickle, since profitability is in the trader’s hands.
The market is volatile and unpredictable, so it would not make sense to make any promises of profits.
Our Recommendations for Crypto Bots
While we think that LiveTrader is a good choice if you want to give it a try. It is safe and should not pose any risk to your digital assets.
Overall, we think LiveTrader is a good trading bot that is still growing and evolving. It does offer ample solutions for crypto trading with useful features like paper trading, so traders can test the waters with their strategies.
Whether you are a novice cryptocurrency trader or a professional daytrader, LiveTrader has plenty to offer you. Novice traders can take advantage of the preset strategies to trade without having coding skills.
Professional daytraders can create advanced strategies and apply them to their bots for next level crypto trading.
As always, we advise our readers to do their own research, while using our LiveTrader review as a guide to what makes a good bot and what to look out for when choosing a trading bot. LiveTrader has a lot of potential, so it may be worth a try.