3Commas Review

3Commas Review

Pricing

  • Free
  • Starter – $22/month with annual payment
  • Advanced – $37/month with annual payment
  • Pro – $74/month with annual payment

Supported Exchanges

18

Platform

Web, App

Education

Yes – https://3commas.io/blog

Customer Service

Email, FAQ, Social media

Pros

  • Unified Access to Major Cryptocurrency Exchanges
  • Extensive, Copyable Bot Library
  • Streamlined Dashboard with Comprehensive Features
  • Excellent Customer Support

Cons

  • Occasional Delays in Mobile App Performance
  • Commission on Trading Bots at Lower Subscription Levels

3Commas Review

3Commas, based in Miami, offers an online platform designed for automated bot trading of cryptocurrencies. It’s an ideal solution for those new to the stock market, lacking formal financial education or extensive trading experience.

The platform is accessible via any computer or mobile device with internet connectivity. 3Commas provides a range of trading bots, each tailored to specific strategies like stop-loss and short selling. Users can also create customized trading positions, and the bots can be programmed to operate at specific times or run continuously. Read on to see if 3Commas is the right platform for your automated trading needs.

About 3Commas

Founded in Tallinn, Estonia in 2017 by Yuriy Sorokin, Egor Razumovskii, and Mikhail Goryunov, 3Commas was established with the goal of facilitating the creation and use of crypto trading bots. Despite intense competition, their advanced crypto bot quickly garnered a dedicated user base, thanks to the team’s deep industry expertise.

3Commas’ trading bots enable rapid execution of numerous transactions, far outpacing manual trading. Moreover, the bots offer more consistent profitability by adhering to predefined trading plans.

Who Should Use 3Commas?

If you’re looking for an easy-to-use platform for cryptocurrency trading, regardless of your expertise level, 3Commas might be for you. It’s especially suitable for those needing customizable bots and access to various exchanges.

3Commas is a comprehensive crypto trading platform, offering automated trading bots, options to mirror successful traders’ strategies, and tools for portfolio monitoring. The platform also supports intelligent trading, allowing users to develop unique strategies and set automatic stop-loss and take-profit orders.

Is 3Commas Safe?

3Commas ensures appropriate security of data on its platform and maintains a transparent policy for handling sensitive information. It’s important to note that the trading bots can’t withdraw funds from your linked accounts, and no funds are held on the platform itself.

The bots interact with your exchange accounts via an API, executing transactions on your behalf, similar to other trading bot platforms. To initiate this process, users provide their API keys generated by their exchanges, eliminating the need to transfer any fiat or cryptocurrencies to external accounts.

3Commas Platform & Features

Built-In Trading Strategies

Enhance your algorithmic trading with common trading methods, whether you’re a novice or experienced trader.

3Commas offers user-friendly web-based interface, abundant functionality, and detailed analytics. Users can utilize various bots, including short, basic, composite, and composite short, set stop-loss and take-profit levels, and customize trading strategies.

The platform features automated bots, performance metrics, and the ability to create, test, and back-test crypto portfolios. Users can also monitor top-performing portfolios and engage in social trading by copying the strategies of experienced traders.

Easy-to-use Automated Trading

Upon registration, link your trading platform and select a bot to automate trades based on your preferences. Multiple bots are available with a premium subscription. Bots can be programmed for specific tasks, eliminating the need for constant monitoring. Set the amount and currency for a bot to invest in a particular asset, removing manual buy/sell order requirements.

During sign-up, choose a trading pair, initial capital, and ROI goal. You can modify these settings later, but initial thorough setup helps optimize future trading. Your settings influence trade maximization based on profit goals and risk tolerance. New users might find the numerous options during onboarding challenging. Understanding bot setup is crucial, especially for those new to trading.

There are two bot types: basic and composite. A basic bot trades one coin pair, while a composite bot handles multiple. After choosing a bot, you’ll develop its trading strategy, including coin pairs, maximum open trades, base order size, long/short positions, and order type.

Support for Popular Exchanges

3Commas supports over 18 centralized exchanges, including major ones like Binance, FTX, OKX, KuCoin, Coinbase Pro, Bitstamp, Crypto.com, Gemini, Huobi, and Kraken.

Mobile App

The mobile app, available for all subscription levels, mirrors desktop trading capabilities. It offers convenient trade monitoring on-the-go. However, the mobile app’s performance may not fully match the desktop version, with ongoing improvements to address lag in alerts and smart trading features.

Ease of Use

The 3Commas platform boasts a user-friendly interface, making it accessible even for those new to trading. Its UI/UX allows for easy fine-tuning of different strategies using sliders and clear indicators.

Navigating the site is straightforward, and setting up trading bots is a breeze. Users can effortlessly connect to an exchange, set up smart trades and bots, and access various features with just a click. The dashboard is intuitively designed, featuring a sidebar for quick navigation to frequently used sections and functions.

How to Open An Account?

To start with 3Commas, visit their website and select your preferred plan. Register by providing your email and a password. Account verification is completed through a link sent to your email, granting access to the control panel.

The platform offers flexible payment options. You can pay for subscriptions with fiat or cryptocurrencies, and they accept credit cards, PayPal, and AdvCash for transactions.

In Conclusion

3Commas is a versatile and robust trading platform suitable for traders of all skill levels. Its straightforward interface allows for quick onboarding. It supports major exchanges like Binance, Coinbase, and Huobi, enabling traders to exploit the market’s round-the-clock nature to maximize profits.

Consider starting with the free plan to get a feel for the platform. 3Commas also offers a free trial of its premium features without requiring credit card details, allowing for a risk-free exploration of its capabilities.

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