LiveTrader

LiveTrader is a cloud-based crypto-trading platform which allows traders to select from various cryptocurrencies and a multitude of technical indicators in order to create customized trading bots. Or, in lieu of creating a customized bot, traders can select a bot from the marketplace. This feature allows inexperienced traders to leverage the knowledge of advanced traders by simply copying their strategies. The platform is well designed and easy to use, even for beginners.

Pricing

Plans are based on a three-tiered pricing structure: Starter, Advanced & Professional. The Starter plan is limited to one strategy, on one exchange, and is limited in certain other criteria as well. Advanced allows you to use up to 5 strategies & 5 exchanges (note: they only have three supported exchanges) and fewer other limitations. The Pro plan has the most functionality with the least limitations. Pricing is $19/mo for Starter, $49/mo for Advanced and $99/mo for Professional. They are currently running a promotion that gives you a 50% discount on your first month. Subscriptions can be set-up monthly or annually. There is a 20% discount that applies if you buy an annual subscription, and they have a 7-day free trial available so you can try things out before making a commitment.

Software Type

This is a cloud-based service so it is accessible from anywhere and from any device. There is no installation or maintenance necessary. While cloud-based systems are extremely convenient, there is a small trade-off in security as all billing and trade data are stored on LiveTrader’s servers as opposed to the trader’s computer in a local install. This is likely only a consideration for the most privacy/security conscious traders.

Exchange Interfaces

The biggest disadvange to this service is its lack of exchange interfaces. They currently only support three exchanges: Binance, Binance US and Kraken. They do have additional interfaces in the works with Bitfinex, Bitstamp, KuCoin and Poloniex. But, for now they are limited to three.

Security

As with most trading bot services, the trading bots connect to your exchange via API and don’t have a withdrawal function. This means anyone accessing your account at LiveTrader would not be able to access any funds. LiveTrader has all the standard security features that you would expect from a cloud-based service including two-factor authentication and 2048 bit encryption. In addition, they keep logs of all bot actions which can be accessed by the trader from within their system. This allows the trader to monitor his bots for any type of unusual activity.

Backtesting

Before taking your strategy live, you can test it using historical data. This helps you gain insight into how your strategy would have worked in various past market environments. In this way, you don’t waste time or money on strategies that wouldn’t have worked historically, and you can focus your time and efforts on only the profitable strategies.

Paper Trading

The live trading function allows you to test your bots under live market conditions with no risk. The bots won’t actually be connected to your exchange. In this way you can see if a strategy works in real-time.

Drag & Drop Bot Builder

LiveTrader does not have this feature. However, the interface is well-designed and intuitive.

Scripting Language

LiveTrader does not have this feature.

Advanced Order Types

As this is an auto trading bot platform and not a multi-exchange trading platform, there are no advanced order types as such. Your trading bots are configured to make buy and sell decisions based on an indicator or multiple indicators.

Supports Leveraged Trading

LiveTrader does not support leveraged trading at this time. It is planned for the future.

Additional Features

They have a marketplace where you can follow/copy other successful traders.

  • Pricing
  • Software Type
  • Exchange Interfaces
  • Security
  • Backtesting
  • Paper Trading
  • Drag & Drop Bot Builder
  • Scripting Language
  • Advanced Order Types
  • Supports Leveraged Trading
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Conclusion

While not as well known as some of its competitors, LiveTrader has all the basics covered and some nice additional features such as the marketplace for copy trading. Between the marketplace and the low entry price (Starter plan is $19/mo with a 50% discount on the first month), this may be a good place for beginners to get their feet wet. Also, their customer service is very good which would also benefit the beginning trader. More advanced traders that want to use leverage or do arbitrage trading will need to look elsewhere for the moment.