3Commas Reviews 2020

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3Commas Reviews 2020
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Summary

As the cryptocurrency world continues to mature, crypto traders are being presented with an ever increasing range of services designed to help simplify the trading process, and help traders of all experience levels to record consistent gains.

3Commas is a comprehensive cryptocurrency trading platform that allows its users to make use of automated trading bots as well as follow and copy the actions of successful traders and to create and track top portfolios.

In addition, users are able to engage in smart trading and customize their own trading strategies, and set up stop loss and take profit commands.

3Commas Overview

The 3Commas cryptocurrency management platform provides access to a number of tools designed to improve overall trading efficiency and effectiveness. The team behind the project aim to help minimize investors’ risks, and limit their exposure to losses, while also maximizing their profits.

Central to the service provided is the 3Commas trading bot which operates as a web-based service and works in conjunction with a number of devices and exchanges. The trading bots are pieces of computer software that continuously execute trades based on pre-determined parameters set by the trader.

There are currently over 33,000 traders using the service, and the platform handles over $10m of daily trading volume and the trading bot currently works with approximately 12 exchanges including Coinbase, GDAX, Binance, Bitfinex, and Huobi.

As a result, by using 3Commas traders can keep up with various orders on different exchanges, develop more informed trading behaviour, and make use of effective stop losses or take profit trading strategies.

Key Features

  • Functionality – 3Commas utilises a web-based platform, and features an easy to use and intuitive user interface that includes a wide range of functions and detailed analytics. Users can make use of short, simple, composite, and composite short bots, and set stop loss and take profit targets, as well as customise their own trading strategies.
  • Technology – Automated trading takes place via API integration with cryptocurrency exchanges and the bot works around the clock with any device and users can access their trading dashboard on desktop and laptop computers. The team have also developed mobile apps for both Android and iOS
  • Range of Tools – The platform provides a good range of trading tools and in addition to the automated bots and performance analytics, users are able to create, analyze and back-test crypto portfolios and monitor the best performing portfolios created by other users. In addition, users can engage in social trading and follow and copy the actions of other successful traders.
  • Exchange Integration – The 3Commmas team provide automatic trading bots for 12 exchanges including Bittrex, Bitfinex, Binance, Bitstamp, KuCoin, Poloniex, HitBTC, Cex, GDAX (Coinbase Pro), OKEx, Huobi and Yobit.
  • Customer Support – The platform is available in English, and Russian, and a support team is available to deal with any issues 24/7. Users can contact the team by submitting a request in the Help Centre, and the team can also be contacted via their Twitter account, Telegram group, and Facebook There is also an FAQ page in the Help Centre that addresses the most common issues, as well as a number of clearly written Guides that help users to navigate the platform.

How to Get Started on 3Commas

Creating an account is a straight forward process, and the main page has a green “Create an Account” tab at the top of the page.

1) Create an Account

Visit the 3Commas website and enter an email address and password in order to register. After confirming your account via clicking the link in the email sent, you will gain access to the dashboard.

2) Choose the bot type

There are four types of trading bots, short, simple, composite, and composite short bots, and a simple trading bot only involves one trading pair and is the most straight forward to set up.

3) Connect an exchange

The simple trading bot feature only works with Binance exchange when you start out, and you can connect a Binance account.  Make sure your account is connected via API and holds BNB and has BNB fee payment feature turned on. After this, you can move on to naming your bot.

4) Choose trading pair and set base trade size

You can select the trading pair you want your bot to trade from the drop-down menu, and you can then tell your bot just how much of your preferred currency you will be use during your initial trade.

5) Set target profit

Before doing this, it’s a good idea to set a safety trade size, as you can make purchases after any dips in a more controlled way. If a trading pair of ETH/BTC is chosen, and if after buying ETH the price drops below the original purchase price, then safety trades allow you to buy more ETH with the amount of BTC that set in the safety trade size.

Afterwards, you can set that target profit which informs the trading bot when to sell according to percentages. If a target profit is set for 3%, then the trading bot will automatically execute a sell order once this profit has been realised.

6) Choose take profit type

There are two take profit options, which are a percentage from base trade or a percentage from the total volume.

7) Set max safety trades count

This informs the trading bot how many safety trades it can make before stopping, and the max active safety trades count tells the trading bot the quantity of active safety trades it can conduct at any given time.

8) Set price deviation to open safety trades

This tells the trading bot when it can begin executing safety trades, and is set as a percentage. If set to 3, when the price of the chosen currency drops by 3% below the initial trade price, then the trading bot will start to execute safety trades.

9) Set trade start conditions

This informs the bot of when to make the initial trade, and there is a choice of TradingView Signal Buy or Strong Buy, TradingView Signal Strong Buy, Manually, or Open New Trade ASAP.

By following these steps, a trading bot can be configured in just a few minutes, and the entire process is simple enough for more novice traders to follow successfully. The platform is still detailed enough to also attract more experienced traders.

How to Profit from Using the Automated Bots

After a bot is set up, users can begin to carry out long and short trades, for short trades, a price rise in the currency selected will result in the execution of the sale of the underlying cryptocurrency once the designated profit level is reached. In the event of a price reversal safety orders can be placed to ensure that the bot also makes purchases at a given percentage increase.

The 3Commas team have outlined both long and short algorithms that enable the contrary strategies of selling higher and buying lower to be used to generate profits.

Long – buy lower, sell higher

The bot opens a new deal according to one of the conditions that are available for selection during the creation. After that, it immediately puts a coin for sale. If the price rises and the order gets filled, the profit goal is achieved. In case of a price fall, the bot places safety orders below the purchase price every x%. Every filled safety order is averaging the buy price, and it makes possible to move the TakeProfit target lower and close the deal without losing profits on the first price bounce. Buy one coin at $10 then sell it at $11. It makes a profit from the difference in prices as you get more after the sell. $11 got against $10 spent.

Simplified algorithm:

  1. Buy initial part of coins.
  2. Place a sell order.
  3. Place safety buy orders.
  4. In case of safety orders get filled update sell order.
  5. Cancel safety orders and calculate profits after the sell if finished.

Short – sell higher, buy lower

It’s a reversed version of “Long” algorithm. Sell one coin at $10 then repurchase it at $9. It makes a profit from the difference in prices as you spend less to repurchase. $9 spent against $10 got.

Simplified algorithm:

  1. Sell initial part of coins.
  2. Place a buy order.
  3. Place safety sell orders.
  4. In case of safety orders get filled update buy order.
  5. Cancel safety orders and calculate profits after the buy if finished.

How Smart Trading Works

3Commas incorporates a Smart Trading feature that uses TakeProfit and StopLoss commands to help users maximize their trading profits. Traders can customize their portfolios with commands to buy or sell at a given price point. The commands work as follows:

Trailing Take Profit – The Trailing Take Profit feature has been designed to help traders realise the most gains. If a user purchases multiples of ETH at $500 each and sets a standard take profit order at $550, then they would make a profit of $50 per ETH.

However, if the price of ETH continues to rise above $550 then the Trailing Take Profit allows you to sell at the highest part of a trend by selling at a percentage of the highest value. As a result, if you set a Trailing Take Profit order of 10% and ETH hits $600 before falling, then the sell order is activated when the price falls by 10%, or below $540.

Trailing Stop Loss – This works in the same way as a standard Stop Loss order as they both allow you to minimize your exposure to losses when prices decline. A Trailing Stop Loss order differs slightly as it is percentage-based and automatically adjusts to price fluctuations, whereas a Stop Loss order is set manually at a fixed price threshold.

As a result, if multiples of ETH are purchased at $500, with a Stop Loss order set at 10%, the stop loss order will execute automatically, if the price of ETH falls below $450, and sell your ETH at that price. If the price of ETH increases over the day, a Trailing Stop Loss order automatically adjusts to the price change, and if ETH increases in price by 15%, the Trailing Stop Loss order triggers when the adjusted price drops by 10%, resulting in a 5% gain. This differs from a standard Stop Loss order which will only execute when the price falls below 10% of the original buy-in price.

How safe is 3Commas?

The team don’t go into too many details regarding the security protocols that they choose to employ, however, it’s worth remembering that you don’t actually hold any funds on the platform and your trading bots are not able to make withdrawals from your linked accounts.

Similar to other trading bot platforms, your trading bots connect with your exchange accounts via API and then proceed to carry out automated trades on your linked exchanges. While this process takes place, users aren’t required to make any cash/crypto transfers to external accounts and simply need to provide their API keys which are generated by their exchanges.

These keys provide the trading bots with restricted access to user accounts strictly to conducts trades, and do not grant the bots with any withdrawal rights.

This also means that if your account becomes compromised, and nefarious actors were able to gain control of your trading activity, they still wouldn’t be able to directly access your exchange accounts in order to make withdrawals.

However, the standard personal security rules of crypto still apply, as they could still have a detrimental effect on the funds held in your exchange accounts. Hackers have been known to obtain API access to exchange accounts, and commander the bots to purchase high quantities of low value coins that the hacker’s have already previously purchased.

After artificially inflating both the demand and price of said coins, the hackers then sell off their personal holdings for a profit, leaving the compromised account owners holding funds in the low value coins.

As a result, in order to mitigate these risks, users are advised to enable the available security options such as two factor authentication (2FA) and notification alerts. Notifications can be enabled which alert users of every log in on their account, and the platform also makes use of new IP detection, with verification emails being sent out when a user logs in from a new destination.

In order to gain access to their account, the user will be required to enter a one off code number or click the link provided in the verification email.

The 3Commas team do state that they are committed to data security and the protection of their users’ personal data and all data is protected by security integrated safeguards. These vary in approach and include the use of secure areas, and technical measures such as encryption and secure servers.

The team also outline that in the event of a security breach, they would implement their Incident and Breach Response Plan, which includes sending notifications to individuals as soon as possible.

How Suitable is 3Commas for beginners?

The platform is generally quite easy to navigate, even for new traders, and the trading bots are easy to set up. Various features are easy to access from inside your account, and connecting to an exchange, and setting up smart trades and bots can be done at the click of a button. The Dashboard is also well laid out, and the side panel allows users to quickly select their preferred tabs and features.

In addition, features such as bot analytics which details the best performing bots and trade pairs, and the marketplace are well executed and simple to understand. While the portfolio creation, tracking, and social trading features suit both new and more experienced traders.

You can search through and analyze a variety of portfolios from inside your account while also monitoring their performance and keeping an eye on them by following any portfolios of interest. You can also copy a portfolio if desired; although you will need to have the same exchanges linked in order to fully utilize this feature.

The trader’s diary is another feature that benefits traders of various levels as it provides a concise report of all the trades made on your linked exchanges, and allows you to easily identify any profits or losses incurred on a particular trade within a set period of time.

This helps you to gauge the performance of your trading bots, and works in tandem with the ability to set up a range of notifications whether in browser, for mobile, or by email and notifications can be configured from the Settings tab in your account.

Another major plus is the wealth of resources made available on the platform, and the Support Section contains a number of guides, and FAQs that help people get to grips with the most important issues.

Furthermore, the team maintain a blog that details a number of key concepts for newer traders, and also provide further assistance via their Telegram group, YouTube Channel, and other social media channels, and members can gain access to the 3Commas Discord from inside their accounts.

Most importantly, on top of being easy to navigate, and incorporating a range of trading tools, 3Commas is also free to try, and anyone can make use of the free trial to test out the platform and play around with its various features.

3Commas Pricing

While 3Commas is free to try, there are a number of monthly membership packages that incorporate various features.

The Starter package costs $29 a month*, and includes:

  • Smart Trading terminal
  • No limits for trading
  • Errors and cancellations notifications

The Advanced package costs $49 a month*, and includes:

  • Smart Trading terminal
  • No limits for trading
  • Simple bots
  • Personal signals TradingView

The Pro package costs $99 a month*, and includes:

  • Smart Trading terminal
  • Simple, Composite bots and Bitmex bots
  • Personal signals TradingView
  • Full portfolio management

* It’s important to note that users who commit to longer subscription periods receive reductions on their monthly fees, and a 6 month subscription receives a 15% discount, while a year’s subscription receives a 25% discount.

There is also an enterprise package available which includes priority support and custom features, and the price of this service is available upon request.

The team are also quite flexible with regards to payment options and subscriptions can be paid in either cryptos or fiat, with credit card payments and transfers via PayPal and advcash also possible.

Conclusion

The majority of trading bots are either difficult to use, especially for new traders, or don’t operate in the way expected. 3Commas appears to have solved these problems by producing a trading bot that is both easy to set up and use and also performs reliably when compared to many of its competitors.

The system is well integrated and works on number of leading exchanges such as Binance, Coinbase, and Huobi. The 3Commas trading bot allows both novice and more experienced traders to maximize their trading potential by taking part in a twenty-four hour market without fear of any potential areas of inefficiency.

The Dashboard is easy to navigate and users are able to select a number of options with regards to configuring their trading bots, in addition there is a good amount of instructional information available, as well as detailed analytics on the bots’ performance.

Furthermore, the incorporation of features such as portfolio creation and tracking, and social trading make 3Commas a solid option for anyone interested in adding automated trading to their cryptocurrency trading protocols.

Pros

  • Clean Interface
  • Lots of Exchanges
  • Smart Trading
  • Copy Trading
  • Cloud Based System

Cons

  • Trade Bot Comission on Lower Tiers

What is 3commas?

At its core, the Miami-based 3commas is an online platform for people interested in trading cryptocurrencies using automated bots. It is especially attractive for people without a technical background in finance or extensive experience in stock markets.

3commas is a web-hosted platform that is accessible from any device with an internet connection. 3commas provide different trading bots that can perform specific strategies such as stop-loss, short, to name a few. 

It is also possible to customize unique trading positions using the user interface. The trading bots can also be programmed to operate at specific hours or around the clock non-stop. Let’s start our 3commas review.

Key Takeaways

  • Better User experience and beginner-friendly
  • Support of a wide range of trading strategies
  • Good reputation
  • Provide competitive speed and security
  • Pricing starts with $22 (Free trial available)

User Interface

The 3commas platform has a very friendly UI/UX. All of the customization for the different strategies can be done using sliders and marked indicators.

The experience is intuitive and can be done without too much previous experience in the area.

Trading Strategy

3commas offers a myriad of possible trading strategies. Many come pre-set and are easy to personalize, more complex ones are also possible. 

We will focus on the main ones, but this is by no means an exhaustive list.

Stop Loss

Stop Loss is one of the most common basic moves. Here the user sets a loss percentage. Once that percentage is crossed, the bot will sell the asset. 

As an example, a buy order for BTC at $10,000 is placed by the bot. The stop loss is programed at 10 percent below the initial price. If BTC’s price drops to $9,000, the bot automatically initiates a sell order. With stop-loss, the user can be protected for wild and unexpected swings of the market.

Trailing Stop Loss

Trailing Stop Loss is a more sophisticated version of the previous strategy as the name suggests, in this strategy, the order trail price at a particular price(or percentage) distance.   

So, using the previous example, let’s say we set a trailing stop at $1,000 from the current price, which is $10,000. Let’s say Bitcoin price starts rising and reach to $10,500; in this case, a sell order will be set to $9,500.

Now, if the price starts dropping and that sell order remains at the place will be executed if the Bitcoin price falls below $9,500. 

Take Profit 

Take Profit is self-explanatory; it gets executed once a predetermined percentage of gains has been realized. If BTC is bought at $10,000 (with 20% take-profit) and the price climbs to $12,000, the bot sells the position and locks up the profits.

Trailing Take Profit

Trailing Take Profit similarly to trailing stop loss incorporates the gains into the strategy. The bot is programmed to profit at 10%. This option will take your Profit at 10 percent of the highest point of the trend. So, if in the previous example, after hitting $10,500, Bitcoin price keeps climbing, the position won’t be liquidated until the trend reverses.

These are just a few examples of the possibilities offered by 3commas. Other options are to customize pairs, trade volume restrictions, initial trade size, and many others. In short, it is a very robust and easy to personalize platform.

Ease of use

As stated before, the platform is very intuitive and user-friendly. Beyond that, 3commas offer the ability to copy strategies from seasoned users. Besides, educational blog posts, tutorials, and an active community of people will engage with new traders.

Security

3commas is not very forthcoming with details in regards to the security protocols which they deployed. But it is important to remember that the funds are not actually held on the platform, and the trading bots are not able to make withdrawals from your linked exchange accounts.

The trading bots are connected with the exchange’s accounts via API and then proceed to carry out automated trades on the linked exchanges. This process doesn’t require users to make any cash nor crypto transfers to external accounts, only the provision API keys that are generated by their exchanges. These keys, in turn, provide the trading bots with restricted access to the user’s account and do not grant the bots any withdrawal rights.

Now, regarding the trade data, the Terms of Service are a little ambiguous. It seems 3commas does collect information about the strategies and gains made by users. It is unclear how personalized this data is, maybe it is aggregated data, but it can also be individual. In what ways the company uses this information is not specified anywhere on the site.

Cost

3commas offers monthly subscriptions, but it doesn’t end there. The per month fees change if these are paid a year in advance, six months, or month by month. On top of it all, there are three plans offered with features increasing with the price.

The Starter package costs 22/25/29 USD per month, six months, or a year in advance.

The Advance package starts from 37 USD, and the Pro package starts from 75 USD. Finally, the platform does not charge any trading fees when using its services.

Speed

Since the APIs of the different exchanges give limited access to the bots from 3commas servers, there are no considerable speed advantages. The rate of response to changing market conditions, as well as the speed of placing and sending orders, is standard for a retail platform. 

There is no information available regarding latency tests regarding 3commas, so it is hard to make a judgment.

The institutional investor with low latency equipment and faster connections will have an edge. But on the retail side of the market, 3commas has no significant disadvantages against other competitors.

Reputation

3commas is among the most reputable and well-regarded trading platforms in the crypto world. Most review sites have it at the top of the list with nearly perfect scores and with glowing comments. The crypto trading space is still young, and these types of services are relatively new, but in the current market, 3commas is at the top.

Exchange Compatibility

Right now, 3commas is compatible with 13 exchanges, including Bitmex, Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, HitBTC, Gate, Coinbase Pro, OKEX, Huobi, and Kraken.

Final Thoughts

3commas is among the most versatile and robust trading platforms out there. The easy to use interface is an excellent first step for users of all levels of experience. It is also connected to the largest exchanges in the market, and the ability to place orders across exchanges is a significant feature.

It is safe to say that if you are thinking about trading in crypto, this platform should be at the top of your research list. Let us know what you think about our 3commas review in the comment section.

In the last decade, cryptocurrencies have penetrated into new areas and emerged with ties to traditional financial instruments. As a result, more and more solutions are being developed in order to bring new ladders to this sector. 3commas is one of those solutions.

3commas was introduced as a smart trading terminal that can help to maximize profits and enhance trades through a bunch of automated tools. 3commas has quickly created a great reputation among digital money investors for its ease of use and solid prospects.

About 3commas

3commas was launched in 2018, with a mission to build an easy and reliable exchange platform so that crypto traders can earn money in a short time.

It wasn't long before 3commas gained popularity and became a prominent player among auto trading bots. So far, there are more than 200K users who registered for the service, which creates and processes over $60 million USD in daily transactions.

3commas has gathered a huge community of users and supporters, including beginners and experienced investors. That is to say, people can not only make use of 3commas as a trading platform, but they can also exchange their strategies and tips with others on the platform.

The Functionality

3commas provides a toolset of integrated features to its users. One of the most remarkable gadgets are the automated trading bots. There are simple bots and composite bots that will automatically collect market data and trading signals, then generate reports and proper investment scenarios.

The bots can be predefined for auto-order placement. One user can build up copy bots to track others’ performance and duplicate their plans via social trading. That produces an easy way to follow successful strategies and simply incorporate them into your trading strategy.

Thanks to the automated mechanism, traders can create time for other activities rather than always sticking to the screen to manage their assets. More rest and relaxation may boost profitability and open traders up to diversified ideas.

Besides auto trading bots, 3commas also extends manual trading capability with Smart Trade features. This set of tools enables additional choices for conducting transactions. For instance, you can set up to sell your cryptos with multiple targets, or use Smart Cover to accrue extra profit against price fluctuations.

3commas’s Smart Trade is equipped with precise trailing and concurrent take-profit/stop-loss orders which constantly calculate market moves and adjust to execute the most appropriate and timely deals.

All of these tools are likely to be an enormous assistance for traders who wish to run their investments without dedicating all their time to investment management.

3commas accounts are supported by a few portfolio management tools, such as rebalancing coin ratios based on investor’s determination or ratio copy/edit among different buckets.

All concurrent rates and investment performance are explicitly displayed on a single-window through TradingView, which makes a lot easier to keeping track of each coin, as well as the overall situation.

Exchanges Supported by 3commas

3commas brings big help for by integrating its services with 13 other existing coin exchange platforms, e.g. Binance/Binance DEX/Binance Futures, BitMEX, Bitfinex, Bitstamp, Coinbase Pro, HitBTC, Huobi Global.

All of these are among the most popular trading terminals, which saves users time and effort when connect with different channels. There is sure to be an exchange to use with the platform, and perhaps more than one.

However, not all platforms are supported by 3commas features. While manual Smart Trade is probably going to work on most exchanges, auto bots aren't as well supported on the exchange side. Different promotions are applied to specific exchanges as well. Therefore, be sure to learn everything that is included in the package before you sign up.

Pricing Plans

Basically, 3commas comes with 3 subscriptions, which are accompanied by a 3-day trial offer. You can work with the platform before you have to commit, which is a nice feature.

The three plans on 3commas are Starter, Advanced, and Pro, ranging from $29 USD/month to $99 USD/month (pricing can be converted into EUR for non-US citizens). Users can select to pay monthly or annually, by PayPal, Visa, or with digital coins.

The manual trading functions in the three plans are very similar. Noticeably, all accounts offer convenient push-notifications through multiple devices and API access.

On the other hand, note that the auto trading bots feature is not available in Starter plans, while Advanced users are only able to access to limited functions for the bots. Only Pro plans have full access to use complex auto bots for trade optimization.

How Easy is 3commas?

3commas has put a lot into making the simple to use the platform, which is super nice to use, and concise. Novices won’t take too long to get acquainted with the interface as there is help from 3commas’ general knowledge base. You can always seek support from the blog section or the 3commas community.

Once you have become familiar with the platform, you will find that it does a lot to help you trade. The platform provides plenty of customizable features. Users are able to modify default settings, from beginner to advanced levels.

Loads of tools are available for automating investment decision making, such as concurrent take profit/stop loss, trailing stops, long/short algorithm auto bots, and much more. With all these functions, 3commas gives investors and traders great tools for manual trading, automated trading, portfolio balancing, or investment management.

Ease of use isn't the only advantage of 3commas. The security of private data and crypto exchanges is also a top priority. 3commas has developed a secured hosted server in order to prevent any malicious threats to sensitive data.

In addition, each account can activate two-factor authentication (2FA) to help keep personal information as safe as possible. As a result, traders can feel confident that the platform has taken precautions to ensure there is a safe environment for making transactions.

Potential Profits with 3commas

No platform can deliver 100% of the time. However, by incorporating powerful tools, 3commas provides more ways for traders to profit from both market gains and losses, as well as automated tools that allow for advanced trading strategies.

3commas offers a referral program that allows users to make extra money by sending other potential clients to the platform. In particular, users can receive a commission based on any coin payment successfully processed via their referrals.

A couple of other additional programs are promoted to encourage traders to increase their trading volume as well.

There is little doubt that 3commas is a great answer for cryptocurrency traders. The company created a highly secured platform, which is perfect for manual and automated trading. It is adaptable to various types of trading strategies, as well as market environments.

Utilizing 3commas is worth looking at for any trader who needs solid tools in the crypto market, and wants to deal with a number of popular exchanges.

How Does This Bot Help Crypto Traders?

The platform management grants access to multiple trading tools designed to increase cryptocurrency trading efficiency and performance. 

The bot works toward helping traders curb financial losses and cut off unexpected trading risks. 

With its smart trade, beginners and even more advanced traders can take advantage of the platform to move their trades forward to more profitable heights.

Look, it’s time to put an end to the old school way of opening several tabs and exchanges at once. 

The main feature of the system is the trading bot, which runs a couple of web-based services and consolidates various exchanges and devices.

Before we go any further, let's recap what trade bots do. 

Trading bots are bits of automated programs that make trades based on pre-installed parameters or indicators set by a trader. 

Why don’t we also take a closer look at the current state: right now on the crypto market, more than 33,000 users trade with it! 

Now, ask yourself these questions: 

Why so many users? 

What’s so unique about this bot?

Here’s the kicker: 

It manages an excess of  $10 million in trading volume. 

As well, this crypto trading bot is compatible with 12 exchanges including Coinbase, GDAX, Binance, Bitfinex, and Huobi. 

3–°ommas Bot Settings And Features

Usability

As mentioned earlier, it operates as a web-based interface. 

Users enjoy the combination of working with a rather intuitive network and a trading medium equipped with both a wide range of features and detailed analytics. 

Similarly, clients can trade with simple to composite crypto bots, determine loss and profit margins, and set their own trading strategies. 

Technology

Trading bot uses an API to integrate major cryptocurrency exchanges like Binance and Bimatrix. 

Users can perform trade activities from both their iOS and Android devices on a 24/7 basis. 

Account logins and logouts are not restricted to desktops or PCs. 

One more thing to note: traders might want to give the mobile app a try. 

The app works well on both iOS and Android interfaces. 

Range of application

Apart from providing trading bots and up-to-date analytics, the platform offers a decent range of trading tools to its users. 

More importantly, you can check up on other crypto dealers. 

How does this play out? 

Users can build up, review, back-test crypto profiles, and even keep tabs on the best performing portfolios created by other users. 

To top it off, social trading is also possible. This is also one of the incredible features of 3Commas bot settings — traders can refer to and copy the activities of other successful traders. 

Exchange Integration

Remarkably, exchange consolidation is great here. 

Dealers are provided automated programs for 12 other exchanges including Bittrex, Bitfinex, Binance, Bitstamp, KuCoin, etc.

Customer care

What is better than trading in the language you understand? 

Those bots are encrypted in both English and Russian, and, as such, users can switch between the two languages. 

As well, there’s an around-the-clock customer support team that is always ready to answer the long list of questions from clients, and a help center that receives customer requests. 

3Commas reviews and updates can be searched using the team’s Twitter account, Telegram group, and Facebook. 

Aside from these help centers, there is an FAQ page that addresses the most recurring issues, as well as a number of instructional guides to help clients with trading.       

Cutting Edge Benefits of Using

Let’s dig a little deeper into the pros of trading with this bot. 

Here we go! 

Easy setup

The simple 3Commas bot settings allows newcomers to seamlessly navigate the crypto environment. 

With various new features, the ByBit bot portrays itself as a master solution to help newbies make trades without much hassle. 

Additionally, connecting to top exchanges and setting up trade bots is as simple as just clicking a button. 

Visibility and layout

The 3Commas bot settings and dashboard are very well laid out. 

Users are able to view information and quickly select their preferred tabs and features through the side panel. 

As well, features such as ByBit bot analytics, trailing stop loss, and take profit are equally appealing to traders, as they are easy to move around and use. 

An example of the ‘take profit’ application would be in minimizing risks and losses. 

Again, managing profile tracking and social trading features are both intuitive and suit both new and more experienced traders. 

Likewise, you can skim through various portfolios from your own account and still be able to monitor other traders’ performance. 

This edge helps users gain follow-ups on portfolios of interest. 

Lastly, and perhaps the most interesting is that users can copy and refer to a portfolio if desired. 

However, be aware that you’ll need to have similar exchanges linked to your account to be able to access this feature in full. 

Available Resources

With an enormous wealth of resources like guides, tutorial videos, and FAQs, the 3Commas review in the help section of this platform can help clients stay informed about the most crucial issues. 

Great group support

Since every beginner’s hitch is not having the right info at hand, this platform makes sure its teams maintain a blog that is incredibly detailed. 

With this blog, new traders are ushered into the know with regard to the key concepts to work with. 

More so, proper assistance is provided through their Telegram group, YouTube Channel, 3Commas Reddit, and other social networks. 

By using these, members can gain access to the Discord from inside their accounts. 

3-day free trial plus invite-and-earn offer

First of all, did you know that for every referral as a beginner, you’re offered a 10% discount. 

Amazing, right?

Secondly, new users can grab the free trial privilege. They can use the opportunity to pick up some crypto trading tricks and secrets, and also play around with the various features.  

A Few Pitfalls to Watch Out For

Ever ridden on a road without bumps?

I have never! 

Similarly, I’ve yet to see a trading bot without problems. 

However, as long as traders are aware of the areas where their bots fall short, they can always wrap their heads around the issues whenever they come up. 

Here are things to consider while using the 3Commas trading bot.

Security concern

Even though this platform is quite user-friendly, it, however, does not address extensive security worries. 

Because of this, questions about customer integrity and privacy have arisen. 

To shut down this problem, users can activate the so-called 2-factor verification. 

At present, it seems this move does not yet completely cover the security loophole.

Multiple upgrades

At 3Commas fees are regularly updated. 

It would be great if these upgrades came free of charge. 

With the opposite being the case, crypto tradesmen will have to put up with the expense. 

You have to fill the balance to earn a 3Commas commission.

N/B: Check out our website to learn more about the different plans, their pricing, 3Commas bot settings, etc.

How Beginner-Friendly is 3Commas?

On a scale of 1 to 10, I would say 8. Here’s why:

Let’s remember that this platform is one of the simplest for beginners to navigate. 

You’re supplied a number of features to trade with, including the ‘smart trading’ option and stop loss, which are both intuitive. 

There is a great advantage of tying up various exchanges into your personal account. 

The type of operating system you use doesn’t matter — Android and iOS devices are compatible with the trading bot.    

Need I mention the well laid out dashboard, a side panel for users to choose tabs and features in just one click? 

Come on guys, who wouldn’t mind such good stuff?

Let’s face it; as much as trading bots are smart tools, they are still made by humans. 

You can’t really afford to give them 100% trust, particularly when you consider issues like developer errors. 

Despite being flooded with multiple capabilities and protocols, trading bots top-notch efficacy is yet to be proven. 

Many of these bots have proven to be prone to errors. 

For instance, Zenbot which provides open source trading, has on different occasions displayed variable results for virtual and real trades (mind you, this was for the same trading situation). 

This further cements the possibility that some bots might as well be incapable of carrying out high-frequency operations, so they, in turn, fail to fully highlight golden opportunities where traders could have doubled their profits.  

Understanding these pitfalls is essential for beginners. 

Thankfully, in previous sections of this 3Commas review, both the pros and cons of trading on the platform have been carefully explained. 

Final Words

Here's probably the most important part for beginners: it appears these trading bots, as opposed to other bots, perform best. 

The bots are simple to set up, navigate and make trades with - especially for first time traders. 

That’s not all, however. Binance, Coinbase, and Huobi — the leading crypto exchanges - can be consolidated into 3Commas. 

The icing on the cake: a good amount of instructions and detailed bot analytics are available to you. 

You may also have to add features like portfolio creation and tracking, and social trading to build a more stable foundation. 

Aside from that, trading with this bot is a brilliant option that I’d recommend for beginners.

To sum up, it would be a major plus if traders could combine the use of bots with a provider. 

3Commas provides access to a variety of trading tools to improve your crypto trading strategy. When used properly, these tools can maximize your profits and reduce your exposure to losses. Of these tools, 3Commas is best known for their trading bots. In this 3Commas review, we explore the functionality that makes this platform so powerful.

Trading Bots

Trading bots have gotten a lot of attention lately due to advancements in their algorithm and growing success rate. Nobody can watch the market 24/7, and the volatile nature of the crypto space makes it possible to take losses or miss opportunities in seconds. Luckily, a well-programmed trading bot can take the reins while you sleep, eat, or do whatever other non-crypto activities require your attention.

As a 3Commas user, you can automate your bots in many ways, including duplicating the actions of successful traders, automating trading orders, and tracking top portfolios. These handy protocols allow you to preprogram your trading strategy based on loss and gain percentages, price points, or a variety of other market conditions. The 3Commas trading bot has over 33,000 registered users with around $10 million in daily trading volume.

Trading Bots: Things to Consider

Trading bots aren’t perfect, and many people argue that they are manipulating the price of cryptocurrencies. There is evidence to support this theory. In June 2017, Ethereum experienced a flash crash from $319 to $.10 on GDAX due to a flood of trading bots initiating stop losses. Despite the risks posed by these protocols, trading bots are here to stay.

3Commas

The Miami-based 3Commas cryptocurrency platform entered the crypto market in 2014. Within four years, the platform managed to become a major player in the crypto space. The developers behind the 3Commas crypto management system made strategic partnerships with many well-known exchanges including Binance, Coinbase, Bitfinex, and Huobi. These partnerships make it possible for 3Commas trading bots to operate on some of the largest exchanges in the world via API protocol.

3Commas Features

3Commas features a web-based platform that you can access from any internet enabled device globally. You can access different bots to perform different actions including: simple, composite, stop loss, short, and take profits. You can also create your own unique trading strategy via the user-friendly interface.

Your trading bot works non-stop monitoring the market awaiting your trading criteria. 3Commas offers powerful tools to their trading bot users. These tools include unique features such as trailing stop loss and trailing take profit. Below are how these features increase the effectiveness of both stop loss and take profit features.

Stop Loss

In a traditional stop loss scenario, you preprogram a loss percentage. When that percentage is reached, your bot will sell your crypto. For example, let’s say you purchased Bitcoin at $10,000. You set your stop loss at 10 percent below your buy-in price. If Bitcoin’s price drops to $9,000, your bot automatically initiates a sell order. Stop losses are extremely powerful, and using one can save you from huge losses.

Trailing Stop Loss

The trailing stop loss feature takes additional factors into the equation. These factors can include any gains achieved. Let’s use the same example as before, except in this scenario Bitcoin first realizes some gains throughout the day prior to taking losses. The trailing stop loss feature automatically readjusts your 10 percent stop from your buy-in price to the highest- value point in the day. This way you still receive your gains made throughout the day.

Take Profit

The take profit feature automatically sells your holdings once a predetermined percentage of gains are realized. You buy a Bitcoin for $6,500, set your take profit feature for $6,600, and if the gains are realized, your bot will take your profit. The system helps out significantly but it often leads to missed profits. What if that $6,500 Bitcoin goes to $8,000? Now, you just missed out on an additional $1,400 in profit.

Trailing Take Profit

The trailing take profit feature takes into account the price trends of the day during the sale of your crypto. If your bot is set to take profit at 10 percent, this feature will take your profit at 10 percent of the highest point of the trend. Using the previous example, you sell your $6,500 Bitcoin for $7,200. You make $700 in profit instead of $100.

Sign Up Process

The sign-up process is relatively painless. The company asks for your email and password initially. You then need to confirm your account via a clickable link in your email. Once you click the link you are taken to your account setup page where you are provided with four steps.

Connect to Exchange

Here you will integrate the 3Commas platform into your exchanges. The process requires you to hit the connect button and fill in the relevant information, including your API, for the exchange you want to attach.

Smart Trade

The next step in the process is creating your stop loss and take profit functions. The platform will manage your crypto portfolio across multiple exchanges in real-time. The smart trade feature simplifies the monitoring process for crypto traders by locking in your profits and reducing your losses.

Automated Trading Bot

If you have a Binance or Huobi account you can earn some extra income with the automated trading bot feature. You will need to enter at what percentage of loss or gains you want your bot to activate. You can also set up the more advanced features of your bot in this section, such as the previously mentioned trailing stop loss and trailing take profit functions.

Invite and Earn

The final step in your 3commas account setup is inviting your friends to join. The company offers an impressive referral rate, and your friends get a 10 percent discount off their 3Commas service.

3Commas Prices

There are some costs associated with these helpful services. 3Commas offers four subscription plans for you to choose from. The plans range from new crypto users, all the way to enterprise level operation. Below are the four plans and what they include. 

Starter $29/Month

This plan grants you access to the smart trading terminal, unlimited exchange integrations, and error and cancelation notifications. This level of subscription doesn’t include bots.

Advanced $49/Month

The Advanced plan includes everything listed in the Starter package plus access to simple bots, custom TradingView signals (proprietary trading interface), and a portfolio management interface.

Pro $99/Month

The Pro plan includes everything in the Advanced plan plus access to simple, composite, and Bitmex bots. You get full portfolio management software and access to custom TradingView Signals.

Enterprise

The Enterprise level subscription includes all of the bots and custom features on request. Pricing for the service isn’t listed because it is tailored to each client. You can expect that it will be more than $99 per month.

Once you pick your subscription you will be asked how you want to pay for your account. The three choices available are Advcash, Crypto via CoinPayments, and Yandex.Checkout. You can use a credit card, money transfer, and even good old fashion crypto to pay for your 3Commas account.

3Commas: Trading Tools for the Future

3Commas continues to pioneer the trading bot sector. Love’em or hate’em, trading bots are here to stay, and 3Commas offers one of the best in the industry. These helpful algorithms reshape the crypto market and provide traders with more control over their earnings.

Now that you are familiar with trading bots, be sure to check out how hackers used trading bots to attack Binance.

The current cryptocurrency market is flooded with automated bitcoin trading bots. While everyone would love to automate trading and increase their profits, the main question in everyone’s mind is that if trading bots work?

one such automated trading platform which has been in the news is 3 commas. In this 3commas review, we will go through the features, advantages, disadvantages and see if the platform helps in making automated profits.

An Introduction to 3commas

3commas is a cryptocurrency trading software which provided a wide range of useful tools and services for users to choose from. It performs real-time market analysis using powerful algorithms for getting you the best trades possible.

It was started in 2014, and within four years, became one of the largest players in the cryptocurrency space. There are over 33,000 users currently being served with transaction volume in the tune of $10 million being handled every day.

3commas calls its approach ‘Smart Trading’ incorporating some very exclusive features. Let us look at each feature in detail:

3 Commas Review: Features of 3commas

  • Seamless exchange

The 3commas window allows users to perform transactions on multiple cryptocurrency exchange services through a single interface. They have created strategic partnerships with multiple exchange services like Binance, Coinbase, Bitfinex, and Houbi. The number currently hovers around 12, which means traders can make a more informed decision by analyzing the situation at all the different exchanges.

  • Stop loss

One of the most amazing features of 3commas is Stop loss, it helps you sell your assets when the loss percentage reaches a threshold value, say you buy a currency for $1000, and you set your stop-loss value at 10%, your bot will automatically sell your assets if the prices fall below $900. This helps you avoid major losses in the market.

  • Trailing Stop loss

Trailing stop loss helps you prevent major losses while considering other factors like gains made through the day. The trailing stop loss feature automatically re-adjusts your 10% stop from your buy-in price to the highest value points in the day. This way, your gains made through the day remain unaffected.

  • Take Profit

This feature allows you to stop trading and collect profit if the desired value of your expected profit is realized. Say you start trading at $500 and you want to take profit at $1000, the bot will take profit if the value is realized and stop further investment. However, this may lead to missing out on higher profit scenarios, wherein consider if, for the above case, the value reaches $1500, you miss out as you quit your trade at the take profit value.

  • Trailing Take Profit

This allows a trader to take profit as per his assigned value. The bot automatically will take profit of the highest point of the trend.

  • Functionality

It utilizes a web-based platform and easy to use features that include detailed analytics. Users can make use of short, simple and composite bots to completely customize their trading strategies.

  • Real-time Notifications

You can enable real-time notifications on your mobile, desktop or email through the settings provided. They also provide you an option of customizing your notifications setting so that you can hand pick only those notifications that you wish to receive

  • Annotations

You can add notes and comments to all your trade orders. This helps you recollect and maintain an audit trail for keeping a track of all the transactions that took place. Adding comments may prevent you from making similar mistakes in the near future and help to repeat a profitable strategy.

  • Trader’s Diary

One of the useful features provided in 3commas is being able to maintain a consolidated report of all the transaction carried out by a particular trader. This provides you a brief report of all the transactions that have taken place over a certain period, for you to have a quick glance.

  • Portfolio follow and copy

Investing your money requires making a rational decision on a continuous basis, although it is very difficult, we learn through experiences. Following the footsteps of a successful investor will not only help us reiterate our decisions but help us follow through on our mistakes.

3 commas also allow you to copy the portfolio of a successful investor such that you can also make the desired level of profits by investing in places which are showing a proven track record with other investors.

  • Customer Support

The customer support team is available 24/7 and helps you deal with all your issue at any time of the day. Users can also contact the support team by filling up a form and submitting a request at the ‘Help Centre’ feature. The team is quite active on Social Media and can be contacted through Telegram, Twitter and Facebook.

The FAQ section provides a range of well-defined solutions for common problems that traders may face. The clearly written guides help you navigate the entire platform with ease.

Potential of Earning through 3commas

The real question here is, can we actually make money if we entrust all of our trades to the trading bot? The platform is replete with some very amazing trading features, nevertheless, they may even lead to you losing your money.

The market is hyper-volatile, allowing the bot to take decisions based on only one strategy for a longer period of time may yield no significant result, in fact, may even lead to you losing your money. The actualization of features like “Stop Loss, Take Profit and Trailing profit/loss may increase the frequency of transactions, however adjusting to the market volatility becomes challenging if the trader doesn’t constantly revise his goals.

Consider scenarios where features like take profit and trailing take profit actually put a cap on your earning potential. This actually doesn’t translate into the kind of profit one expects from trading in the cryptocurrency domain. Despite these shortcomings, higher volume trades can still get your voluptuous amount of profits.

The 3commas have used both long and short algorithms that enable the contrarian strategies of selling higher and buying lower so as to generate maximum profit.

Getting Started with 3commas

  1. The first step involves signing up with the platform. You will need an email id which will function as your registered email for all future transactions. After setting your password, a confirmation link is sent to your email id which creates an account upon being confirmed.
  2. After you create your account, you will be directed to choose a bot, from simple, short, composite or composite short bots. You can choose one depending on your trading capabilities. Generally, the simple trading bot is the easiest to choose from and very quickly sets up.
  3. The next step involved choosing an exchange service. The simple bot works with Binance. Make sure your account has been connected via API and holds BNB. The BNB feature must be turned on.
  4. Post this,you can choose the trading pair that you wish your bot to trade from. You may now set limits to the amount of currency you will be using in your initial trades
  5. It is always a good idea to set a target profit. This allows the bot to work with volumes from a trading pair. Say you’re working with Bitcoin and Ethereum, it allows you to buy more from the profit to compensate for the falling prices in the other currency. This maintains your profit at the desired percentage.
  6. Choose your take profit type, which can be from base trade or from total volume. Once you’re done with this, choose a safety trade count, this allows the bot to stop transacting after facing certain losses. Also, choose options of telling your bot when it can begin executing safety trades.
  7. The last step is setting your start trade condition from options like Strong buy, Signal by, or Open Trade ASAP. With these few steps, you can finish configuring your bot. This can help both novice and professional traders.

Pricing Structure for 3commas

3commas is not free software. There are multiple trading bots which are open software based. They are free to download and customizable as per user requirements. 3commas provides its services for users depending upon the package they’re willing to buy.

It is initially free to use and try, after which you can choose one of their monthly packages.

Starter Pack

The cost of a starter pack starts from $25 per month. A starter pack, however, provides limited features. It allows interaction with only one exchange service and five trading pairs. It also charges a simple bot trade commission of 50%

Advanced Pack

An Advanced Pack allows to more features as compared to the starter pack and hence is priced higher. It costs you $42 per month. The advantage of using an advanced pack is that it allows interaction with two exchange services and offers you all trading pairs. It operates on a composite bot commission of 50%

Pro Pack

It is the priciest of the three packages and provides comprehensive services like integration with unlimited exchanges services and deployment of unlimited trading bots. It is priced at $84 per month.

Enterprise Pack

This pack is generally for trading firms and conglomerates. It allows integrating custom features using 3commas API. The developers provide priority support to such users. The price may be dependant on the scale of usage as it is not mentioned on the website, but available on request.

A commission of 0.25% on the transaction amount is charged for each smart buy or smart sell created. The use of infographics, automatic balancing and portfolios are completely free for now.

The service charges the commission from your internal and not from the deposits on an exchange. You also get a joining bonus of $10 when you register on the platform for the first time. This $10 is used to cover their commissions only. You can also earn discounts based on referrals.

Whenever a transaction is initiated, the commission amount gets frozen in your account. Only when you successfully complete transactions like stop loss, take profit or panic sell, it is deducted from your account. If you cancel a transaction or it does not go through due to server error, it gets credited back to your account.

Forthcoming Developments

Loads of exciting features are expected to be added in the near future, with the development team showing serious signs of intent. There is a superfluous amount of exchange services that they’re looking to add. This includes Bitstamp, Yobit, Bitmex etc which will prove to be very beneficial in the long run.

Social trading options like CopyTradingBot feature which copies winning strategies will further be boosted by features like order books, new exchanges, copy traders etc and help increase its usefulness.

The Rise of Trading Bots

With of advent of technology, trading with cryptocurrencies has become easier than ever. However, it has become increasingly difficult to extract the right return on your investment due to the market being largely volatile and the rapidly falling prices of Bitcoin and other similar currencies.

Bitcoin traders are now presented with a plethora of services at their disposal to choose from, which has not only provided them with ease of use but also provided advanced software which can capitalize on every fluctuation in the market. Trading bots are one of these software packages which run on advanced algorithms and protocols that cash in on every surge in pricing and help users manage their assets in case of dwindling prices.

Trading bots perform continuous transactions on your behalf depending upon your investment strategies. Their actions are based on price, market volume, trading frequency and other parameters, which help them make decisions at the spur of the moment with minimal human intervention.

These bots work round the clock to assess the market at every regular interval. They resonate with your choices and implement your trading strategies seamlessly, completely relying on empirical data. These qualities have resulted in the market being flooded with a number of trading bots available for users to choose from.

How well do trading bots work?

Despite being enriched with multiple capabilities and protocols, their efficacy is yet to be ascertained. A lot of these bots have proven to be prone to errors. Zenbot, an open source trading bot displayed different results for virtual and real trades, in the same trading situations. Some bots are also incapable of high-frequency operations thus failing to fully capitalize on the earning opportunities. Understanding all the pros and cons of trading bots, helps us evaluate its usefulness for our trading capabilities. A thorough evaluation of every aspect of the features provided by the software needs to be done. This article attempts at providing a complete review of one such trading bots which has become largely popular since its inception: 3commas. Having a complete walkthrough will not only help users have a fair idea about 3commas but also help them to assess other trading bots in a similar fashion.

3Commas Review: A New Winner ?

3commas is carving a niche for itself in the cryptocurrency trading market. It has turned ripples into waves by providing users accessibility like never before and trading features which provide a hassle-free experience. Majority of the trading bots are very difficult to use and may confuse a novice trader.

They may turn out to working differently than expected, and the UI/UX may not provide a thorough satisfaction. 3commas is doing well because it eliminates all these problems. It is very easy to use and set up, apart from this it also performs with great reliability as compared to other trading bots. System integration provided by 3commas is simply amazing and works on all major exchange platforms like Binance, Coinbase, and Huobi.

The trading bot allows both novice and expert traders to venture fearlessly into the trading market and help them maximize their trading efficiency by working in a twenty-four-hour market without any fear or potential inefficiencies. The Dashboard is well designed, hence navigating through it becomes very easy.  A number of options with regards to configuring your trading bots are available.

There is detailed analytics present on the bot’s performance which helps you provide immediate visualization of the trading policies that you have adopted over time and the yields obtained from it. There is a good amount of instructional videos available on the website which covers most of the problems that traders may face.

The incorporation of features like Social trading further adds impetus to its growth. Portfolio creation and tracking make the software the one to look out for. The help options and the ease of getting in touch with their customer representatives depict strong ethical and professional morals.

The price tag, however, is one of the downsides of the software as a variety of platforms available on the internet, perform bitcoin trading via bots for free. This discourages a user from availing such service for the first without any first-hand information about expected profits.

In conclusion, one can say that it packs a  solid performance combined with a great user interface and customer-centric services. This makes it an interesting choice for anyone who is looking to commence trading cryptocurrencies. You can get great value for your money by investing in this trading bot even as a first-time user. In spite of that, if you’re unsure of your trading strategies and capabilities and the duration for which you wish to stay in the market, it may be wise to look for other options that are available for free and try them out before investing your money in trading bots.

As we know, over the past several years, we have witnessed a real computer revolution. We have practically all available solutions replacing us with computers. These are already such advanced technologies that are already able to make a decision for us, and what’s more, they do it faster and more efficiently than man. It is particularly visible in trading, where several years ago all decisions were made by man. Now Traders are equipped in computer programs who are able to do all the work. However, the market is flooding with information on how many new programmes have been hiring by financial institutions recently. But what about us with retail traders? How should we deal with this situation? It remains for us either programming learning or uses trading bots (free/paid) from the Internet. There are really many of them when you looking for information on the web. That’s why I decided to check 3Commas in this short article. One of many users and additionally paid TradingBots. Let’s have a look at one of them – 3Commas. They were started in 2014, there are over 120,000 users currently being served with transaction volume in the tune of $60 million being handled every day, supported 23 exchanges- data from 3Commas website. You can trade on all exchanges from one single interface from 3commas’ window. Up to date, they support Bittrex, Bitfinex, Binance, KuCoin and Poloniex, Bitstamp, HitBTC, Cex, GDAX, OKEX, Huobi, YOBIT.

How well do 3commas trading bots work?

On the website, we can read that: “3commas is a cryptocurrency trading bot that provides a wide range of tools and services for users to choose from. It performs real-time market analysis using powerful algorithms for getting you the best trades possible”. Sounds interesting? Is this the right place to find a solution for retail traders? 3Commas offer a few types of trading bots: Simple, Composite, Short, Composite short. You can choose which one you want it depends on your individual approach to the market. At the moment available is almost 90 trading bots. Does quantity mean quality?       

Browsing information about bots, I wonder why the best strategies work only 30 days. How to trust this kind of bots with short history (just 30 days history)? How do I find out how it behaves with high market volatility? I don’t know. I couldn’t find this kind of information on the 3Commas website. For institutional investors or professional retail investors, this kind of question is fundamental. If you invest money you should know how much you can earn at what possibility of loss. That’s why it’s better for your wallet, to wait for a strategy with a long history to know what to expect.

Can I make a profit on real market with 3Commas?

Let’s see, how 3commas trading bots work. As a retail trader, I would like to try one of these 90 strategies. I choose for my example one “Simple Long Strategy” and I opened Paper Account. Pairs: USD_BTC, USDT_LINK, USD_LTC. Target profit 5%. On 3Commas website we can read the short description: “Simple Long Strategy gives you the possibility to make price increases”- information from 3Commas website. It looks simple to buy a lower price and sell higher price. The bot opens new deal according to one of the conditions that are available for selection during the creation. After that, it immediately puts a coin for sale. If the price rises and the order gets filled, the profit goal is achieved. In case of a price fall, the bot places safety orders below the purchase price every X%. Every filled safety order is averaging the buy price, and it makes possible to move the TakeProfit target lower and close the deal without losing profits in the first price bounce. 

My strategy has been worked for 14 days. Completed 15 orders and give me $0.16 profit ($10.000 balance). Strategy performance results and statistics below.  

Whether the profit is big or small I leave the answer to you. The rate of return is positive (+0,16$), therefore we should be satisfied (really  ?). My “New Bot” did not lose money. Of course, everything was happening on the real market but money was virtual. You should also know that is possible to change strategies parameters at any time and can adapt it to your current needs but I did not do that because left my 100% decisions to the bot. 

The main purpose of trading bots is to automate things which are either too complex, time-consuming, or difficult for users to carry out manually. Good trading bots can save a trader time and money by collecting data faster, placing orders faster and calculating next moves faster. In my case, I just set the parameters and Trading Bot did the rest but is it enough to tell that the strategy is good? Please rate it yourself.  Meanwhile on the market situation looks very interesting for my example (charts below). The market moved up, how I expected. As you can see from the charts below I could earn more money in this period of time. 

You also need to know that 3Commas is not for free. They have four subscription plans: Junior from €0 (your total balance across all accounts is $750 and no bots), Starter €24 (without limits for trading, no bots), Advanced €41 (Simple bots), Pro €84 (Simple, Composite Bots). The interesting thing is that you don’t know how much you can earn but you immediately know how much you have to pay!! Profits are potential but costs are fixed.

How safe is 3Commas?

3Commas don’t go into too many details regarding the security protocols that they choose to employ, however, it’s worth remembering that you don’t actually hold any funds on the platform and your trading bots are not able to make withdrawals from your linked accounts.

Similar to other trading bot platforms, your trading bots connect with your exchange accounts via API and then proceed to carry out automated trades on your linked exchanges. While this process takes place, users aren’t required to make any cash/crypto transfers to external accounts and simply need to provide their API keys which are generated by their exchanges.

These keys provide the trading bots with restricted access to user accounts strictly to conduct trades and do not grant the bots with any withdrawal rights. This also means that if your account becomes compromised, and some hackers were able to gain control of your trading activity, they still wouldn’t be able to directly access your exchange accounts in order to make withdrawals. However, the standard personal security rules of crypto still apply, as they could still have a detrimental effect on the funds held in your exchange accounts. Hackers have been known to obtain API access to exchange accounts, and commander the bots to purchase high quantities of low-value coins that the hackers have already previously purchased. After artificially inflating both the demand and price of said coins, the hackers then sell off their personal holdings for a profit, leaving the compromised account owners holding funds in the low-value coins.

3Commas has made a positive impression. It is also worth mentioning about Key Features:

  1. Technology – Automated trading takes place via API integration with cryptocurrency exchanges and the bot works around the clock with any device and users can access their trading dashboard on desktop and laptop computers. The team have also developed mobile apps for both Android and iOS
  2. Tools – The platform provides a good range of trading tools and in addition to the automated bots and performance analytics, users are able to create, analyze and back-test crypto portfolios and monitor the best performing portfolios created by other users. In addition, users can engage in social trading and follow and copy the actions of other successful traders.
  3. Functionality- 3Commas utilises a web-based platform, and features an easy to use and intuitive user interface that includes a wide range of functions and detailed analytics. Users can make use of short, simple, composite, and composite short bots, and set stop loss and take profit targets, as well as customise their own trading strategies.

Strong points of 3 Commas Bot Platform

  1. Emotionless, fact-based trades make sure that decisions taken are taken entirely based on the ideal conditions with little room for doubt, instinct, and human error. This reduces the intensity of the decision-making process and helps to take logical and high-profit decisions.
  2. Good exchange connections.
  3. The Smart Trading option that makes use of ‘trailing take profit’ keeps the user away from a loss when trading. Since it is designed to stay in the loop and adapt itself to the market, it is an intelligent solution to make as much as possible with a trade.
  4. Easy to set up for beginners, making sure that newcomers can navigate the 3Commas bot and make trades without any hassles.
  5. A well-laid-out dashboard and visualization of data allow the users to keep track of everything that is happening while boosting their appeal and ease of use.
  6. The free access offers a great trial so that users can make full use of the platform.
  7. A large number of exchange offers a wide array of information centres, making sure that your decision is well thought out with multiple inputs.
  8. The fact that users can refer and copy portfolios of successful traders.

Weak points of 3 Commas Bot Platform

  1. Security protocols are not explained with great clarity, raising concerns about whether the trades are truly secure. Users can, of course, enable the 2-factor verification for additional security, but the fact that not much is said about it leaves room for concern.
  2. The plans change regularly and might prove to be a bit confusing to say the least with 3Comms’ paid plans, commission plans, and a mix of both.
  3. The balance has to be filled up for commission, which may be a hindrance for many users.

Using trading bots for trading makes life easier. It can save traders a lot of time but will give it earn real money? Popular trading bots available to individual investors (regardless of whether paid or free) have one basic problem, namely the speed of response to changing market conditions, as well as the speed of placing and sending orders. This is not their strength. You will not find any information about latency, what is the maximum number of orders that can be sent  per second. Using low latancy software will give you advantage on the market over retail bot users. Therefore, institutional investors have an edge on the market.

  • Are you interested in making extra money from real cryptocurrency trading?
  • Do you want to do paper trading before you do the real trading?
  • Do you wanna use automated crypto trading bots for trading?
  • Are you annoyed about keeping a track of multiple orders on innumerable exchanges?

If you answer yes to any one of these, this 3Commas review is just for you.

If you resonate well with these concerns, you are in the right place. If you don’t, stick with us as we are going to unveil something very interesting, something that can help you maximize your profits in the cryptoland.

On observing closely, you will find that the cryptocurrency market is hyper-volatile, to say the least, but this volatility can actually be used to earn handsome profits if you have the right tools.

This is what 3Commas offer. A crypto trading tool that is idle for beginners and advanced users alike.

Usually, new and experienced users alike, fail to realize potential profits while trading cryptocurrencies because of certain issues, some of which are:

  • Inability to monitor different exchanges for different coins
  • Improper/less effective stop losses or take profit features in the exchange UI.
  • Lack of real-time notifications etc.

These are just a few of the many problems or limitations that they face. Hence, their trade quality isn’t good enough to realize maximum profits.

However, 3commas is revolutionizing that. Let us understand how!

What Is 3commas.io?

3commas is a cryptocurrency trading bot that helps improve the trade quality by giving the trader the right control and features they need to maximize their cryptocurrency trading profits. 

3Commas offer 3 different kinds of bots:

  1. Gordon bot
  2. Advanced bot
  3. Grid bot

The grid bot is the latest, and easy to use bot by 3commas, and you can learn about it from the video below:

Since 3commas offer paper trading for you to test these bots (before you actually put the real money), you will learn using the crypto trading bots for free.

Grid Bot review:

I have been experimenting with 3Commas grid bot, and my experience has been profitable. It is a range bound bot, and it does the job of scalping. Before 3Commas I was scalping manually, but now this AI bot does everything automatically.

There are two options you can choose from within Grid bot:

  • AI based strategy: In this AI set a range (Upper limit and lower limit), and does everything for you.
  • Manual strategy: In this you set the range, and the buying/selling with happen in your defined range.

In an uptrend market, this bot can generate significant results. I have been running Grid bot for almost 3 weeks. Here are my results from my recent Grid bot performance:

Another great feature of 3Commas is Smart trading.

3commas calls it SmartTrading.

Let’s learn a bit about their SmartTrading approach:

In the SmartTrading approach that is implemented via the 3commas tool, you get some exclusive features.

  • You can trade on all exchanges from one single interface i.e. from 3commas’ window. Update, they support Bittrex, Bitfinex, Binance, Bybit and Poloniex, Kraken, Cex, OKEX, Huobi, YOBIT
  • Contemporary stop-loss and take-profit. Traditional exchanges won’t do this
  • Trailing mechanisms can help you to trace all the market changes and limit the loss
  • Handy notifications about your orders’ condition
  • Notes for the orders
  • Trader’s journal (automatic summary of your trading statistics from all the exchanges in one convenient report)

Now that you know about these features, it makes sense in introducing you to its interface and also throw some light on each of these features.

Note: This application/service can be access through any web-browser or mobile so you need not worry about multiple device accessibilities. They have a mobile app for Android and iOS.

How Does 3commas Work?

Cryptocurrency Paper trading

Before I share the features of 3Commas, you should know about the paper trading feature of 3Commas. Using it, you can test your strategies and do trading with virtual money. This will help you learn to trade and also getting used to 3Commas system.

Access All Exchanges In One Window

When you register on 3commas with your email ID, and login for the first time, you will see this as your dashboard. Here, you can keep track of your balance, prices and other quick access feature like ‘Connect to exchanges’.

3commas supported exchanges

3commas currently supports all best cryptocurrency exchanges (Bittrex, Bitfinex, Binance, Bybit, and Poloniex )and you can connect all these exchanges to 3commas and control them from a single window.

Explore the links (official) below for linking the following exchanges to 3commas:

Note: When creating API for any exchange, make sure to not enable the withdraw feature. This is already mentioned in the 3Commas article but something I feel it’s important to mention. Make this a thumb rule whenever you are using a Crypto bot.

Contemporary Stop-Loss and Take-Profit

Contemporary stop-losses or take-profit conditions are managed and executed in real-time according to the goals you set.

Here is an example: Let’s say you want to buy a coin and your entering price is $X. With 3commas, your order will actually be placed on your chosen exchange when the 3commas bots detect that your buying condition is met. Unlike traditional exchanges/bots, it will not create fake buy/sell walls.

Similarly, when stop-loss has to be activated, it will constantly look out to check if the conditions set by you actually match at that time.

In both these ways, your actual funds will never be waiting for the conditions to be met and will not be frozen in the exchange itself.

In a nutshell, at the moment of creating the order from 3commas, the bots begin to look at the current price and compare them to your goals (SL/TP)

And as soon as the coin price coincides with the condition that you set (for example take-profit), the bot will close the position, i.e. it will take the profit.

3commas Trailing Stop-Loss and Take-Profit

Trailing Stop-Loss:

For example, you buy 1 ETH for 0.05 BTC, and set in the system a stop-loss goal, for example, 10% (0.045BTC) and take profit is 20% (0.06 BTC). The trailing stop-loss always follows the price and moves the stop-loss after the price moves toward the target take-profit. For example, suppose the price of ETH increases by 10% (0.55 BTC). Now your stop-loss of 10% will be rearranged to 0.0495 BTC. To understand more about how trailing stop-loss feature works see this official guide from 3commas.

Trailing Take-Profit:

Take this for example:

1. You open a position at a price, for example, $5. You set take-profit to $6. The TP condition itself means that when the price reaches $6, your position will close, and you will earn $1.

2. Trailing take-profit is needed to maximize profits, that is, if the value of the position increases, it won’t close it at a fixed price, but will raise the closing condition while the value goes up. If you bet Trailing TP to $7 (40% of the growth from the initial one), while the price goes up – $6 (20%), $7 (40%), $8 (60%) – the closing position changes and the take-profit grows.

3. At a time when the price goes down more than X% (which you choose in the settings), the position closes. If this happens, for example, at $9 dollars, you will additionally earn $3, thanks to trailing take -profit. To understand more about how the trailing take-profit feature works, check this official guide from 3commas.

  • Real-time Notifications

You can also enable notifications for mobile, in the browser, and emails from the right top corner under settings. You can also customize the type of notifications you would and would not like to receive.

  • Add Notes To Your Trade

You can also add notes/comments in your trade orders so that you can recollect or can get its audit trail in the report itself as to why and when you the trade was carried out. You may also add comments like ‘you want to hold this coin for next 6 months’ to trade efficiently through 3commas.

  • Trader’s Diary

Trader’s diary is another cool feature of this tool where you get a consolidated report of the trades that you have made on all the linked exchanges through 3commas.

You will also understand at a glance, by looking at this diary, the profit or loss you have incurred on a particular trade in a particular duration.

  • Portfolio Follow/Copy

You can also explore the portfolios of others through this tool and analyze how they are doing by following that particular portfolio.

You can also copy a portfolio if you like, but for this feature to be used you should have those particular exchanges linked to 3commas.

3commas pricing

3commas is rather cheap for the features it provides. It cuts down on a lot of hassle for multiple exchange users.

In my opinion, the pro plan is the best, as it offers bots which is one of the highlights of 3commas. None the less, the 3 days free trial is good enough for you to learn everything about this platform.

When you start a transaction, you are not charged the commission. The required commission amount gets frozen in your account. The commission will be deducted from your account upon the successful completion of a transaction: activation of stop-loss or take-profit or clicking Panic Sell. If you cancel a transaction or if it does not go through due to a service error, the frozen funds will be returned to your account.

Roadmap & Conclusion

Option to copy winning traders via their CopyTradingBot feature which they also call as social trading is just amazing.

That is all from my side in this introduction of 3commas. If you liked the idea, go ahead and register on 3commas to start trading.

ou are convinced crypto is the future and would like to have more of it but you have no budget for bigger purchases nor time for trading and accumulating that way? Ok, then trading bots like 3Commas might be the solution for you.

Why?

Well, with correct setup and low risk strategies, you can employ the bot to chip off small pieces of market gains for you and grow your stash of crypto day by day.

In this 3Commas review, we will go over all major features of this cryptocurrency trading bot, its main advantages and potential flaws, how it compares to its competition and what is the best and most efficient strategy to use with 3Commas.

Before we begin, you can check out our article on the leading automated crypto trading solutions or read our direct comparison between 3Commas and Cryptohopper, the top crypto bot currently on the market.

What is 3Commas?

3Commas is an automated cryptocurrency trading bot that was started back in 2017. As you probably know, crypto bots (also known as bitcoin bots) are software solutions that automatically buy and sell cryptocurrency on exchanges by following rules and instructions set by the user.

3Commas is, just like majority of other bitcoin trading bots, a cloud-based platform, meaning you can access it with any device and trade on the go since it also has mobile apps for both Android and iOS.

Major features of 3Commas

What exactly can you do with 3Commas.io?

A lot of things.

Once you connect your exchange account with 3Commas platform via API keys, you can use it to trade either manually (with enhanced features in comparison to regular exchanges + have all exchanges in a single interface). setup automatic trading bot by yourself or go to the marketplace and buy strategies or signals from third-party vendors.

So, in essence, these are three main products on 3Commas platform:

  • manual trading with enhanced features and options
  • automatic trading with bots
  • portfolio management
  • marketplace for signals, strategies

Let’s sift through all of the above mentioned features and explain them in detail.

Manual trading with Smart Trade

This is manual trading on steroids. 3Commas has built a powerful user interface and dubbed it Smart Trade. Smart Trade is fully customizable in an easy and user-friendly drag-and-drop fashion.

You can do a lot of things from this dashboard, some of them:

  • Concurrent Take Profit and Stop Loss – through 3Commas, you can set both take profit level and stop loss concurrently, and the bot will close your position whichever situation happens first.
  • Set multiple sell targets – you can essentially make a tiered sell order where you instruct 3Commas to sell certain percentages of your position at certain levels
  • Support for TradingView – TradingView is the most popular charting platform in the world. It has all imaginable indicators and charting tools and you can make use of that through 3Commas’ Smart Trade dashboard.
  • Take profit and trailing Stop Loss – another great option where you can set your take profit level but also protect your gains by setting a trailing stop loss (for example, you set the bot to set the trailing stop loss at 15% below the current price and it keeps moving that order as the price trends up).
  • Smart Cover – great feature to take advantage and collect additional profit with unexpected market moves. Sell and buy back coins with trailing Take Profit and Trailing Buy.
  • Conditional orders – Buy or sell when the price reaches a certain level. You can also buy with sell conditions (you input when to buy, when to sell with a profit, when to sell with a loss).
  • Add sell conditions for coins you already have

Does Smart Trade on 3Commas support margin and future trading?

Yes, it does. You can connect BitMex, ByBit or Binance and manage your margin trades through 3Commas Smart Trade interface.

Below is a quick rundown about top 3 bots, based on their most prolific properties:

Automated trading with Trading Bot

This is the actual bot part of the platform. This is where you go to set up and unleash your bots to trade hands off. You remove your emotions out of the equation and free time for other activities while the bot tracks the market and does the trading for you. With a proper set up, this can lead to a solid stream of passive income every day/month.

3Commas has two types of bots you can run on their platform:

  • simple bots
  • composite bots

We will cover both of them in more detail in the rest of this 3Commas.io review.

Important hint: 3Commas offers a test option where you can run your bots without risking your money and they call it paper trading. This is a safe way to try something your configuration risk-free before employing it to run with your real money.

What can you do with 3Commas automated trading bot?

  • You can set up one bot and run it for years without needing to change anything. But if you wish, you can edit or stop the bot at any time.
  • Long and short algorithms: bot buys at lower price level, sells at higher price level; or vice-versa in the short algorithm mode.
  • Repeat trades on one pair with simple bots. The bot immediately puts a new order once it closes your previous position.
  • Choose when bots start new orders with different start conditions. This is good option as opening new positions immediately after closing previous ones is not the best option all the time (for example, at price peaks).
  • Explore & copy top-performing bots from other users. This is a great option if you want to use someone else’s configuration which has provably been working good.
  • Safety orders to mitigate the opposite market moves. This is essentially a DCA – dollar cost average method where you soften your losses by buying more at lower prices, thus lowering your average entry price
  • Composite bots allow you to split funds in a more efficient way. You don’t have to lock up your funds in simple bots as you can start a composite bot, add as much pairs to it as you wish and it will automatically allocate funds to active pairs.
  • Buy and use different third-party signals from the 3Commas marketplace.
  • Use Trading View alerts to create orders and close positions based on technical indicators like RSI, ULT, TA presets, CQS Scalping etc.
  • Margin trade short & long on Bitmex, Bybit, and Binance

What are simple bots on 3Commas?

As the name suggests, these are very simple scripts that 3Commas runs on your behalf. You chose a trading par, set your take profit percentage (usually in low single digits – 1% or even lower) and let the bot run. It will then repeat this action (set new buy as soon as it closes the previous order) non-stop, until you direct it cease its mission.

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What are composite bots on 3Commas? How does 3Commas composite bot work?

Composite bots are more complex and offer more flexibility. You can choose multiple trading pairs (as many as you want) and run them concurrently. Composite bots manage your funds much better as you don’t have to create dozens of simple bots for every pair (which would mean your funds will be locked up).

Composite bot can have ten trading pairs open but trade only one and it will require funds only for that one deal, no lock ups.

Portfolios

This is a section of 3Commas platform that is not its core business, but rather an addon feature which is nice to have. It is essentially a Blockfolio within the 3Commas app + couple of nice additions.

You can have an overview all your exchanges and coins you own while also having an option of automatic rebalancing of your portfolio. You will allocate percentages to each coin you want to own and 3Commas will make the purchases and keep your portfolio in that balance by automatically selling/buying pairs when the given ratio is broken.

For example, you can tell 3Commas that you want to have 50% of your portfolio on Binance in BTC, 25 % in ETH and 25% in BNB. It will sell your current coins on Binance and buy these coins in these ratios. It will then monitor their prices and should BTC go up and ETH down which would tilt the ratio in the direction of BTC (in this case you could end up having 28% BTC and 22% in ETH), 3Commas will sell part of your BTC funds and buy ETH for it, to restore the balance to the set ratio.

Other features

Other noteworthy features that come with 3Commas account are:

  • Notifications about any price change and order filled via app notifications, Telegram or email
  • Mobile apps for both iOS and Android
  • Marketplace with signal providers and trading strategy vendors
  • Generous referral program with 3 tiers (you earn commission for the referrals of your referrals).

Can you do futures and margin trading on 3Commas?

Yes, you can. 3Commas supports Binance Futures, BitMex and ByBit which are three of the most popular margin cryptocurrency exchanges.

But please note that margin and futures trading is only possible via the Smart Trade terminal which is dedicated for manual trading, as we described it earlier ” a trading dashboard on steroids”.

AI GRID bot – new powerful trading bot on 3Commas

This is a new, powerful AI trading bot that is still in a beta mode. You need to enable access to it through your profile on 3Commas.

This AI bot adjusts itself to market conditions and with a proper set up can be a super efficient in raking up the profits for you.

How to create AI Grid bot on 3Commas?

Provided that you already have an exchange connected, you only need to pick a trading pair, allocate funds, and click the “Create” button to get the bot up and running!

How does AI Grid bot work?

This bot tries to take advantage of every price move in the price range it previously determined. How is that range decided? Well, the bot set the upper limit as the maximum reached price over the latest seven days increased by 3%. The lower limit price is the lowest reached price over the latest seven days decreased by 3%. 

The bot then slices this selected range into multiple planes and places a buy or sell order on every level, which allows one to buy every drop and sell every rise.

Since GRID places both buy and sell order concurrently, you need to own both coins from the pair to trade. If you trade BTC against ETH, you need both BTC and ETH.

How to set up and account and first bot on 3Commas?

Create an Account

Fill out the registration form on the 3Commas homepage. You’ll get a 3 days free trial to test 3Commas.

Choose paper trading

Choose paper trading (for test purposes, no real funds used) or connect exchange for trading with real coins.

Choose your bot type

You can pick out from a range of four types of trading bots, short, simple, composite, and composite short bots.

Connect an exchange

Go to your exchange to create API keys and copy/paste them into the 3Commas platform (follow instructions, it is a straightforward process). For simple bots, you can only use Binance exchange when starting out.

Select your trading pair and set base trade size

You can choose the trading pair for the bot to trade from the drop-down menu, and you can then instruct the bot how much of your preferred currency it will be use during your initial trade.

Set take profit level

This is the price level where bot will close your position and secure your profits. Before setting up this parameter, it is a good idea to put in the safety trade size which is a feature that allows your bot to react on price drops of your base coin in the selected trading pair and buy the dip.

The take profit target is set in percentages and has two different types. First one is percentage from base trade – meaning, if you put in a 2% take profit level, the bot will close your position once the price is up 2% from the buying price.

The second one is also a percentage but based on the total volume.

Set max safety trades count

This instructs the bot how many safety trades it is allowed to make before stopping, and the max active safety trades count instructs the bot the quantity of active safety trades it can conduct at any given time.

Set price deviation to open safety trades

This informs the trading bot when it can start executing safety trades, and is set as a percentage. If set to 3, when the price of the selected currency drops by 3% below the initial trade price, then the trading bot will begin to execute safety trades.

Set trade start conditions

This tells the bot when to make the initial trade, and there is are couple of signals it can work with: TradingView Signal Buy or Strong Buy, TradingView Signal Strong Buy, Manually, or Open New Trade ASAP.

By following these steps, a trading bot can be configured in just a few minutes, and the entire process is simple enough for more novice traders to follow successfully. The platform is still detailed enough to also attract more experienced traders.

3Commas review – Supported exchanges

3Commas has ramped up its efforts to integrate more exchanges with its platform and the number of exchanges that can be connected with this automated trading solution has blown up to 23, from only 7 it used to support only a half a year ago.

However, there is a caveat – only 9 exchanges can be used with automated trading bots, the rest can be used only with Smart Trade manual trading. These 9 cryptocurrency exchanges are all major platforms like:

  • Binance
  • Binance Jersey 
  • Binance US
  • BitMEX 
  • Bittrex
  • Bybit 
  • Coinbase Pro (GDAX)
  • Huobi Global
  • OKEx 

3Commas pricing – how much does 3Commas cost?

3Commas.io offers three standard tiers and pricing plans. They also have a custom, enterprise plan that requires a direct contact with the team to arrange it.

The three standard plans differ greatly in their offer.

Starter Plan – $29/month *

  • Trading terminal
  • Concurrent Take Profit and Stop Loss

Advanced Plan – $49/month*

  • Trading terminal
  • Concurrent Take Profit and Stop Loss
  • TradingView Custom Signals
  • Simple bots
  • Short and Long algorithms
  • View and copy bots

Pro Plan – $99/month*

  • Trading terminal
  • Concurrent Take Profit and Stop Loss
  • TradingView Custom Signals
  • Simple bots
  • Short and Long algorithms
  • View and copy bots
  • Composite bots
  • Bitmex, Binance Futures and ByBit bot
  • GRID bot
  • Futures Trading

*3Commas also offers a humongous discounts for yearly purchases with 50% on the pricing if you go for a straight 12 months package.

3Commas for free – is that an option?

Yes, but only for 3 days. 3Commas has a free trial to test out their platform and that trial is limited to 3 days only, which is pretty low in comparison to 30 days that Cryptohopper offers. Bitsgap also offers a two-week trial.

Is 3Commas a good trading bot for beginners?

Yes, it is.

While the platform’s continuous development has seen it grow into a real behemoth with tons of options that might look scary at first sight, their software architects did a great job in designing everything to be intuitive and easy to navigate.

Connecting an exchange is a breeze and simple bots are created with only a couple of clicks. Marketplace and bot analytics are also well laid out and easy to read and figure out.

The trader’s diary is another option that offers a concise report of all the trades made on your linked exchanges, and lets you to easily identify any profits or losses incurred on a particular trade within a set period of time.

Another huge plus is the extensive knowledgebase and tutorials (written and video) which illuminate every pertinent option on 3Commas with great detail.

Customer support

Aside of the chat option that is available on each page of the platform, you can reach out to their support team via their Telegram group, YouTube Channel, and other social media channels. There is also a very active 3Commas Discord that can be accessed from inside their accounts.

How safe is 3Commas? Is it legit?

3Commas connects with your exchange account via API keys that do not have withdrawal rights. Additionally, 3Commas does not route activity through their servers but works directly on the exchanges. Both of these facts play a major role in increasing the safety of 3Commas as hackers have no incentive to hack your account since they won’t have much benefit out of it.

However, there have been cases where nefarious actors would crack externally connected apps to gain access to trading abilities on crypto exchanges. They would then spend your funds on buying low value coins to pump their price. So what is in it for them, I hear you ask?

Well, they bought those low value coins beforehand, and now that they have ballooned their price with your money, they can sell at profit and leave you with bags of worthless cryptocoins that are illiquid. This is almost as bad as straight out losing your coins to hackers.

You can reduce these risks by securing your personal account with the help of 2FA, two factor authentication and notification alerts on all major activities on your account.

This will further shrink the maneuvering space for hackers as, even if they manage to breach the security shields, you can react quick and kick them out.

Tax reporting with Cryptotrader.tax

3Commas has partnered up with CryptoTrader.Tax to make it easy for their users to create their crypto tax reports! 

CryptoTrader.Tax is a great tool, which we reviewed here, automates all of your crypto tax reporting so you don’t have to spend countless hours manually working through all of your trading history.

3Commas alternatives

Top alternatives are certainly Cryptohopper and Bitsgap, as cloud-based platforms and Margin.de – as a locally run software.

We already compared Cryptohopper and 3Commas and came to conclusion that both platforms are in a dead race to be crowned as the top cryptocurrency trading bot but Cryptohopper does offer a couple of benefits like longer free trials, cheaper and featured-richer starter package, larger marketplace, more established brand and arbitrage bots.

On the other side, 3Commas has a broader exchange support with 23 exchanges in comparison to 12 exchanges that are supported on Cryptohopper.

Bitsgap also beats 3Commas in some areas: it supports more exchanges, it has a one-click arbitrage option and also has a longer free trial period and more features in its basic package.

3Commas review – is it worth it?

3Commas is an excellent cryptocurrency trading bot. It offers everything a newbie or experienced trader needs, except for arbitrage trading.

Even if you wish only to manage your portfolio or do automatic rebalancing, 3Commas is a great solution.

If you want to trade manually from one interface with boosted features, you can do it with 3Commas’ Smart Trade dashboard.

And finally, if you wish a hands off approach and a fully automated trading, you can create your own bots: simple of composite. Or you can copy configurations of other people’s bots, buy signals from external vendors or completely copy trade best traders from 3Commas’ marketplace, you can do it all from this single interface.

Thanks to their mobile apps, you can do all of this while on the move.

If you’re looking to get involved in the multi-billion dollar cryptocurrency trading arena, but have little to no experience, you might want to consider the merits of automated trading.

In fact, even if you classify yourself as a seasoned trader, the capabilities of automated trading bots are significantly more advanced than the what the human brain can offer. At the very least, this includes the ability to trade around the clock on a 24-hour basis.

With that being said, one of the most well-regarded cryptocurrency trading bots currently in the market is that of 3Commas. The platform offers a number of innovative trading features that can be built into your very own custom bot, all of which can be tested and used at a number of leading cryptocurrency exchanges.

If you are thinking about using 3Commas for your automated trading endeavors, then we would suggest reading our comprehensive review first. We’ve covered everything from how the bot works, what it allows you to do, pricing, and more.

Let’s start with an overview of what 3Commas actually is.

What is 3Commas?

In its most basic form, 3Commas is an online platform that allows everyday traders to utilize the benefits of automated trading bots. Irrespective of your experience in this particular field, 3Commas aims to cater for investors of all sizes.

If you do decide to engage in automated trading, the bot will execute cryptocurrency buy and sell orders on your behalf. For example, if you want to program your trading bot so that it buys Bitcoin when the asset reaches $10,000 on Binance, and then sells it when the coin hits $11,000, you can do this via 3Commas with ease.

In fact – and as we will discuss in more detail further down, the capabilities of your custom trading bot can go far and beyond just market orders. On the contrary, the underlying technology supports short sells, stop loss and take profit orders, trailing orders, composite bots, and more.

If you’re not quite at the stage where you feel comfortable setting-up your own trading parameters, then 3Commas also allows you to copy the portfolio of another trader. You can decide which traders you want to copy by assessing their statistics, such as historical profit and losses, preferred trading pairs, and volumes.

In terms of the fundamentals, the 3Commas platform was first launched in 2017, and the company behind it is based in Toronto.

In total, you can link your trading bot with 13 leading cryptocurrency exchanges, which includes the likes of Binance, KuCoin, BitFinex, Coinbase Pro, and BitMEX.

Pricing wise, there are four packages available. This ranges from a free account, a starter account at $22/month, an advanced account at $37/ month, and the all-in Pro account at $75/month. The package you require will ultimately depend on your individual needs, and how far you want to take your automated trading endeavors.

So now that we’ve covered the basics, in the next section of our 3Commas review we are going to explore how the automated trading bots work in more detail.

How Does 3Commas Work?

The 3Commas platform offers a number of useful services for a variety of trading needs. To make things easier for you, we’ve broken down the core products below.

Connect Exchange APIs

Before you go through the process of deciding what trading strategies you want to implement, you will first need to link your external exchange accounts up with the 3Commas platform. In a nutshell, you need to give 3Commas access to your trading account so that your chosen automated strategy can place trades in an autonomous manner.

This is beneficial even if you don’t want to use an automated bot, not least because you can execute automated trade orders across all of your cryptocurrency exchange accounts at the click of a button.

For example, let’s say that in order to mitigate your risks, you have funds stored with Binance, KuCoin and Coinbase Pro.

If you wanted to place an automated trade on BTC/ETH when the price hits a certain level, you would ordinarily be required to log in to all of the exchange platforms individually, and then place your required order one-by-one. Instead, you can set-up a single order via your 3Commas portal, which will then execute your chosen order when the pre-defined conditions are met.

In terms of how you go about linking your accounts, this will vary depending on the specific third-party exchanges you wish to merge. However, in the vast majority of cases you will need to visit the settings page of your respective exchange account, and extract the API key.

Once you have the required credentials, you then need to head over to the “My Exchanges” section of your 3Commas account, followed by “Connect to a new account”. Finally, paste in the API key that you extracted from your chosen exchange. Once you’ve completed the above, you have successfully given the 3Commas platform permission to execute trades on your behalf.

Below is a list of the 13 exchanges that the platform supports:

  • Bitmex
  • Bittrex
  • BitFinex
  • Binance
  • Bitstamp
  • KuCoin
  • Poloniex
  • HitBTC
  • Gate
  • Coinbase Pro
  • OKEX
  • Huobi
  • Kraken

SmartTrade

So now that you’ve connected your preferred exchanges with 3Commas, you can now decide what trading strategy you want to utilize. Before we get to the automated bots, it is important to discuss the SmartTrade feature.

As we noted in the above section, 3Commas allows you to execute trades across multiple exchange platforms via a single hub. This is known as SmartTrade.

In a nutshell, although many of the trading features available through SmartTrade – notably stop loss and profit take orders, will be available on your respective exchange platform anyway, SmartTrade is likely to offer a number of features that aren’t supported by the exchange. As such, you can take your cryptocurrency trading endeavors to the very next level.

The trading features that you opt for via the SmartTrade hub will ultimately depend on your experience and knowledge of how trading strategies work. Nevertheless, in order to give you a birds-eye view of some of the most utilized features, we’ve broken these down in more detail below.

Trailing Order

Trailing orders are a hugely useful trading tool that first grew to prominence in the traditional stock market space. Irrespective of the underlying asset it is programmed to trade, trailing orders essentially allows you to adjust your stop loss and profit taking parameters automatically. In fact, it does so in relation to market conditions.

For example, let’s say that you want to trade BTC/USDT at Binance. With Bitcoin currently priced at $10,000, you decide to program your trailing order to exit the trade if it loses 10% in value. Much like in the case of a conventional stop loss order, the SmartTrade protocol will close your trade if the price of Bitcoin goes down by 10%.

However, what do you do if the price of Bitcoin goes on a rally? Ordinarily, you would be confined to a fixed profit take order. On the contrary, the trailing order will adjust both your stop loss parameters and your profit take percentages.

Continuing on with the same example, let’s say that Bitcoin increases in value by 20% and thus, it is now priced at $12,000 against USDT. While your stop loss was previously set at $9,000 (10% of $10,000), it will now stand at $10,800. The reason for this is that the 10% stop loss order will adjust as the price of Bitcoin increases.

Short Sells

As long as you are using a third-party cryptocurrency exchange that supports short sells, the SmartTrader platform allows you to install pre-defined short orders. For example, if you are trading ETH/USD and you think that a key level of support is about to be broken at $230, then you can instruct the 3Commas platform to sell your current holdings and instead execute a short order.

This is hugely beneficial if you are keen to react to market conditions in an autonomous manner, and thus, maximum your potential upside. Moreover, a short sell order via 3Commas allows you to profit when the cryptocurrency trading arena is in a bear market.

Smart Sell

Although the smart sell feature available via the SmartTrade hub might appear somewhat complex at first, it can act as a highly valuable tool once you’ve got your head around it. In its most basic form, the smart sell feature allows you to sell a specific coin, or group of coins, and then buy them back at a later date.

For example, let’s say that you are currently holding a bag of XRP, but you fear that the price is about to go on a short-term decline. However, as you feel confident in the long-term viability of XRP, you want to buy back into the market when the price hits a certain figure. Rather than going through the rigmarole of executing this yourself across all of your cryptocurrency exchange accounts, you can instruct the SmartTrade protocol to do this on your behalf.

If you want to take things to the next level, you can even engage in automated dollar cost averaging. This is where you buy a pre-defined amount of coins every time the asset reaches a new low. For example, you can instruct the platform to purchase $500 worth of Bitcoin when it reaches $9,000, $8,000, $7,000, and so on.

Automated Bots

When it comes to automated trading bots at 3Commas, you essentially have two options. If you’re an experienced trader and you want to customize your own trading conditions, you can do this with ease. Alternatively, if you’re a newbie trader with little experience in trading strategies, you can instead copy the trading portfolios of other 3Commas users.

However, before we unravel the main features of the automated bots, it is important to note that you cannot install technical analysis metrics into the decision-making process. By this, we mean the likes of Moving Average Convergence Divergence (MACD) or Bollinger bands. Although you have the option of customizing your automated bot, the actual decision-making process is based on the cryptocurrency signal finder issued by TradingView.

TradingView Cryptocurrency Signal Finder

In a nutshell, the TradingView signal finder will scan the cryptocurrency trading markets on a micro-second by micro-second basis, with the view of finding potential profit signals. In total, the protocol issues four order types. This covers a ‘buy’, ‘strong buy’, ‘sell’, and a ‘strong sell’.

Once a signal is issued, and the 3Commas automated bot executes the order, the bot will automatically place a number of orders. This will always include an exit strategy pertaining to both profits and losses, which is determined by the TradingView algorithm.

However, the key point here is that the underlying specifics – such as when to enter and exit the market, can be customized to the ‘t’.

Customizing Your Trading bot

Here are the main metrics that 3Commas will allow you to adjust.

  • Exchanges: You can specify the exact cryptocurrency exchanges that you want your custom bot to trade on. If you are looking to trade significant volumes, then it might be best to use multiple exchanges. Don’t worry, the bot will execute your instructions simultaneously, as opposed to placing your orders one-by-one. As such, you won’t miss any potential trading opportunities by spreading your orders over multiple platforms.
  • Pairs: You need to specify what trading pairs you want your automated bot to trade on your behalf. For example, if you want your bot to trade BTC/USDT and BTC/ETH, simply enter your chosen pairs from the drop-down list. Before you do, it is well worth looking at the ‘Recommended Pairs’ tab. This lists suitable trading pairs, in relation to the market conditions you stipulate below.
  • Initial Trade Size: You need to let the bot know how much you want to open your trade at. Don’t forget, the bot is going to place additional trades once the initial order has been executed, as per your pre-defined conditions. Nevertheless, you need to enter the amount that you want to purchase in relation to the base currency. For example, if you are planning to trade BTC/LTC, then your initial trade size needs to be stipulated in BTC.
  • Safety Trade Size: The safety trade parameter is used to perform a cost average exercise. As we briefly covered above, this allows you to bring your average buy price down as the coin declines in value. The bot will typically place a safety trade for every subsequent percent that goes against you.For example, if you are trading ETH/USDT, and you want the bot to place a safety trade at a value of 1.5 ETH, then the bot will do this if the price of ETH declines by 1%, and again if it declines by a further 1%. Much like in the case of the base trade size, your unit of currency needs to match the base currency. So in the above example, this would be ETH, as opposed to USDT.
  • Safety Trade Limit: This parameter leads on from the above metric. As noted, the bot may decide to place a new safety order for each 1% decline that goes against you. However, you need to specify how many times you want the bot to do this. For example, if you were to input 4, then the bot would place a new safety trade when the price goes down by 1%, 2%, 3%, and 4%. After this, no more safety trades will be placed.
  • Safety Trade Deviation: If you don’t want the bot to determine the percentage drop at which the safety trade is executed, you can specify this yourself. Simply enter the fixed percentage in the box.
  • Safety Trade Scale: If you don’t want to confine yourself to a fixed percentage, you can instead instruct the automated bot to utilize a scaled safety trade strategy. For example, you can increase the size of the safety trade for each subsequent percentage decline.
  • Trading Volume Restrictions: This particular trading metric is of significant value. Essentially, you can instruct your automated bot to only execute your trading conditions if your chosen pair hits a minimum 24 hour trading volume. For example, if you are looking to trade BTC/ETH, but you only want to enter the market when trading volumes surpass 1,000 BTC, then this can be done.Take note, the minimum 24 hour volume must be expressed as the base currency. Once again, if you were trading BTC/ETH or BTC/USDT, then in both cases the base currency would be BTC.

Trading Signals Marketplace

If the above trading strategies confuse you, or you’re not quite confident enough to go solo, then you might want to consider the 3Commas marketplace for trading signals.

Essentially, you get to purchase trading setups of other 3Commas bots.

The great thing about the marketplace is that you get to view the historical trading results of each and every bot listed on the platform.

As such, you’ll want to pick an automated bot with a reasonably long track-record of netting consistent profits. Each bot will of course have its own underlying strategy, meaning that some will be higher risk than others.

So now that we’ve covered the ins and outs of what you can do at the 3Commas platform, in the next section of our review we are going to unravel the four pricing plans.

3Commas Pricing

3Commas offers four main packages. This ranges from the free Junior plan, up to the top-tier $75 per month Pro plan.

If you do opt for a paid-for plan, then you can either pay by PayPal or cryptocurrency. The former can be set-up as a recurring monthly subscription, while the latter needs to be done manually each and every month. Either way, you can cancel your monthly subscription at any time.

Junior Plan – Free

The free plan comes with the vast majority of 3Commas features, such as the SmartTrade and MarketPlace offerings. However, it doesn’t come with the TradingView pricing signals, meaning you won’t be able to benefit from automated bots. If you do want this, you’ll need to upgrade. Moreover, the free plan can only be utilized if you plan to trade no more than the cryptocurrency equivalent of $750 at any given time.

Starter Plan – $22 per month

Much like in the case of the free plan, the starter plan comes with most features apart from the ability to use automated bots. In fact, the only difference between the two is that the starter plan comes with error and cancellation notifications.

Advanced Plan – $37 per month

If you want to utilize automated bots within your trading strategy, then the cheapest package available is the advanced package. At a cost of $37 per month, you’ll have direct access to the TradingView pricing signal feature.

Pro Plan – $75 per month

If you want all of the bells and whistles offered by 3Commas, then you’ll need to fork out a very competitive $75 per month. You will of course get all of the features offered in the advanced plan, plus more. This includes the ability to utilize both Simple and Composite bots, and unlike the other plans, you can use the bots on BitMEX. Moreover, you also have access to the full portfolio management suite, which isn’t available in any of the other plans.

3Commas Review: The Bottom Line

If you’ve read our 3Commas review from start to finish, you should now have a really good idea as to whether or not the platform is right for your individual trading requirements. Essentially, even if you don’t want to use the automated bot feature, 3Commas still offers a number of valuable tools.

At the core of this is the ability to place trades across multiple exchange platforms via a single market order. For example, if you wanted to place the same trading order on BTC/ETH across Binance, KuCoin and Coinbase Pro –  then 3Commas would eliminate the need to do this individually on all three platforms.

On the other hand, if you do like the sound of what the automated bot offers, then pricing starts at just $37 per month. For this, you can customize your own bot, or simply follow the trading strategies of a bot created by another user.

Ultimately, it might be worth testing the platform out for yourself via the free plan before making a commitment. Alternatively, 3Commas also offers a free trial, where you get to test out the paid-for plans without providing any payment details.

Pros

  • Clean Well Designed Interface
  • Good Exchange Connections
  • Smart Trading
  • Copy Trading
  • Cloud-Based Platform