Today, we do a review based on the Life Changer Bot EA. This software is developed by three individuals namely Claire, Riba Sans and Seza Bent.
In this post, we do an in-depth analysis to see if this EA is really life-changing. You will get to see what strategies this EA uses and if at all they are successful. We will also publish the results we got on a real money account. More so, we see if there is any community around this EA, and finally, we tell you if this EA is a good choice or not.
What is Life Changer Bot EA?
Life Changer Bot EA is an automated forex robot that works on the MT4 platform. The developers of this EA claim that this EA can make profit margins of between 15%-35% monthly. These are significantly high-profit margins, but as you know, high profits follow high risks.
Strategies employed by a forex bot affect the decision for most traders whether to invest or not. This is because almost everyone wants to keep away from Grid and martingale-based EAs. For the Life Changer Bot, the creators have not specified any strategy or methodology used for trading.
This EA trades all currency pairs, although they recommend the EURUSD and GBPJPY. Marketplaces are selling this robot from $100 to $140.
Life Changer Bot EA: Performance Analysis
The developers have not provided any backtest results for this EA. However, we found real account data on Myfxbook.
The account is using LiteForex broker on a 1:1000 Leverage. The total gain for the EA stands at 95% although absolute gain is similar. The monthly growth averages 35% which is impressive. However, the drawdown is 81% which is a figure we consider scary for any account.
The profit factor for this bot is 1.96. Out of the 348 trades, this EA won 228 trades representing 66% of total trades. The average trade length is 1 day.
Looking at month on month results, the EA performs exceptionally well for the 3 three months shown.
Despite somewhat good results, the risk still looms, as evidenced by the high drawdown percentage. Also, note that this EA stopped updating this account in June 2020. As things currently stand, we have no way of confirming how this EA would be performing currently
Life Changer Bot EA: User Feedback
We uncovered some interesting feedback from traders who used this EA.
Reviews from reputable third-party suggest that this EA is a flat-out Scam. Apparently, the creators of this bot do not refund money if their customers are dissatisfied with their services within the first month.
Verdict: Despite the growth shown by the EA, some issues clearly stand out against it. First off, this EA has terrible customer reviews. Secondly, the updates for the real account ceased in mid-2020. Moreover, as we publish this review, the website for this EA is inactive.
From the analysis we have carried out, it is absolutely clear that this EA is out to scam people. The inactive website, lack of transparency on their strategies and negative comments give very wrong impressions on this EA.
We advise our readers to avoid this EA completely.
However, if you have any positive experience with this robot, kindly leave a comment below.