3Commas is an automated trading platform that is primarily focused on crypto robots. The platform has been designed to help users build their very own customised cryptocurrency bots without needing to known any complex programming languages. The 3Commas platform can be connected with the majority of popular cryptocurrency exchanges and brokers. It includes important features for robots such as dollar-cost averaging, automated portfolios, and much more. In this 3Commas Review, I will take a detailed look at what the software has to offer in order to help decide if it is something that will help you to reach your trading goals. Now without further ado, let’s get right to it!
What is 3Commas?
3Commas is a complete crypto-asset management platform that offers a unified access point and interface that can be implemented with some of the worlds’ major crypto exchanges including Binance and Coinbase. It supports fully automated trade execution and portfolio management, supported by continuously evolving trading strategies, complex algorithms and a variety of risk management solutions. You can integrate signals into your own customised bot and automatically copy the trades of other traders.
By simply connecting their exchange API to 3commas, users of this innovative trading platform can instantly access a unified dashboard serving as the central hub for trading, investing and portfolio management execution. Social trading makes it possible for new users to start trading automatically within 10 minutes of connecting to 3commas. There is also a spot trading interface that adds risk management tools for manual trades.
3Commas isn’t just a cryptocurrency trading platform. They are a team driven to try and innovate software within the crypto industry and powerful and unique tools for traders that improve the overall crypto trading experience. The team are dedicated to the continuous improvement of their service and are always willing to listen to customers in order to help achieve that.
How to use 3Commas?
3Commas is relatively user-friendly making it accessible to crypto traders of all experience levels, even those who are new to crypto bots. The platform is modern, sleek and intuitive. It has minimal clutter to make sure users find what they want and do what they need to without any complications.
You can use the 3Commas trading platform to buy or sell cryptocurrencies including popular digital assets such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and many other cryptos instantly or based on pre-set parameters that you can customise according to your own trading strategies. Users can take advantage of some unique features that no other crypto exchange or crypto app has.
If you are a beginner then you may want to take a look at some of the predeveloped 3Commas crypto bots that you can copy signals from. On the other hand, if you have your own trading strategy, you can create your own unique crypto robot and even share it with other users in the community.
Now that we have established what it is that the 3Commas platform actually does, now let’s take a look at some of the most prominent features it has.
The platform allows you to set your crypto tracker to monitor the performance of your chosen crypto assets via real-time coin market prices over a certain amount of time by utilising line charts and candlestick charts.
Place & Manage Trades
The smart trading terminal enables you to set your trades in advanced based on the specific triggers that you specify. You can set the trade, go about your daily business and 3Commas will handle it for you. This makes it an option for those who are short on time or just don’t want to wait around for the right opportunity to drop into their lap.
You can set take profit and stop loss levels to automatically close a deal on exchange when the specified price you have set is reached. There is a handy trailing mechanism which can be used to buy Bitcoin or other cryptocurrencies at your ideal price point without you needing to manually watch your charts all day long.
Crypto Trading Bots
One of the stand out features of 3Commas and probably the main reason the majority of user’s sign-up to the platform are the crypto robots that it offers. You can choose from various trading strategies that have already been developed with ready-made templates. There are 3Commas robots for various market conditions with trading strategies that cater to different trading styles. There are bots for bear markets, bull markets and ranging markets.
If you prefer to maintain more control over your trading, you can use the platform to build your own crypto robot from scratch so that you can specify every bot parameter that you want, including entry and exit criteria along with money management features and all of the other important settings that you would expect from a crypto bot.
Crypto robots are popular for traders and investors who want to constantly scan the markets for trading signals based on a particular trading strategy without needing to constantly check charts and manually place or manage trades. Some of the main advantages of crypto bots are that they can perform very complex market analysis across multiple assets in an instant. They can also do all of the leg work on behalf of the trader.
You can set them up to send you trading signal alerts which means you can still stay on top of your trading activity without handing full control over to an automated system as they do have their limitations. For example, a trading robot cannot see some things that the human eye may notice whilst they don’t all take into account major news events. Just make sure if you do choose to use a crypto robot that you are aware of the risks involved and never use more than you can afford to lose.
Crypto Trading Simulator
The 3Commas trading simulator can be a great way for you to practice your crypto trading strategies without needing to risk your own funds. Maybe there is a trading strategy idea you have in mind that you would like to test over historical data, the simulator would be ideal for that.
Demo or paper trading simulates real time crypto market prices and behaviours in order to provide a genuine crypto investing experience, but cannot always account for certain things such as slippage, spreads and commission fees. Therefore, it is imperative to be aware of these factors and the impact that they could have on results when switching over from a simulated to real trading environment. Of course, historical performance is also no inclination of how well a particular trading strategy will perform moving forward.
Thankfully you don’t need to be constantly on your computer or phone scrolling through endless news feeds and eye balling charts waiting for an opportunity. 3Commas can send you a push notification when any significant event takes place. You can specify which events you want to receive alerts for to make sure you aren’t constantly bombarded with irrelevant notifications.
The 3Commas dashboard will show you how your trades are performing with real time statistics. This can help you to know when the best time is to optimize and when to let them run.
There is a pleasant community where 3Commas users share ideas, strategies, bots and signals. It can be a great place to get inspired. The customer support team are also available directly via the 3Commas app or email. They will be happy to answer any questions that you may have about the range of products and services that they provide.
Users can subscribe to trading signals provided by other traders to copy strategies and also provide their own crypto signals.
This is a useful feature that lets users quickly create portfolios with any coin allocation and rebalance their account with a click. The rebalancing of investments is the action / trading strategy of bringing a portfolio that has deviated away from one’s target asset allocation back into line.
3Commas Mobile App
There is the 3Commas mobile application which lets users track strategy statistics, launch bots, and close orders. Wherever you are in the world, you can manage your positions at any time you like provided you have an internet connection. The 3Commas app is available from the iOS and Android app stores respectively.
You can follow and read the 3Commas blog in order to keep up-to-date with the latest crypto news and platform developments. They are constantly reviewing the tools and trading strategies, taking on board user feedback along the way.
Is 3Commas safe and secure to use?
3Commas connects with your exchange account via API keys that do not have withdrawal rights. In addition to this level of security, 3Commas does not actually route activity through their servers but instead work directly on the exchanges. Both of these factors can help to play a major role in increasing the safety of the platforms. This is because hackers probably won’t have any incentive to access your account since funds or kept in the exchanges.
You can also try to reduce risks by securing your account with the help of two factor authentication (2FA) and by enabling notification alerts when there are any major activities on your account, such as logins. It can be frustrating having to verify your account each time but as they say, it is better to be safe than sorry.
How much does 3Commas cost?
There are 3 levels of subscriptions that prospective users can choose from. These are $30, $50 and $100 per month. Each subscription offers various number of trades and access to robots.
Users have the option to experience the smart trade features of 3Commas without actually needing to subscribe but paying fees is equal to approximately 0.25% of any profits generated.
For enterprise partners, there is a revenue sharing model with success-based fees charged in addition to the monthly subscriptions.
You can trial 3Commas without any cost as they do offer 3 days of full-access to the professional plan with no credit card required.
All of the 3Commas plans include the following:
- 18+ supported exchanges
- Multi-level referral program
- TradingView integration
- All of your crypto accounts in a single portfolio
- Free mobile apps
- More than 20 trading features
Putting everything together that 3Commas has to offer, I would say that this is an all-in-one automated crypto trading platform and app that can act as the Swiss army knife of trading tools for crypto traders. This innovative software has many features and functionalities that can greatly improve the overall crypto trading experience, all easily accessible from one intuitive platform.
I would put this cryptocurrency robot up there with some other popular automated crypto trading platforms such as Quadency, Coinrule, Shrimpy, Zignaly, CryptoHero, Mudrex, Centobot, Trality, Bitsgap, Cornix, ProfitTrailer, HaasOnline, Gunbot, Cryptohopper, Trade Santa, Stoic and Pionex.
Regardless of your experience level, from novice to professional trader, 3Commas is more than likely going to have something that can be beneficial to everyone. Some say it is worth it just to keep track of your portfolio distribution and exchanges. They could consider linking some more exchanges which may attract more users to the platform in the long run.
- Portfolio Management
- Automated crypto trading strategies
- Customised crypto robots
- Trading signal alerts
- Crypto Trading Simulator
- Market analysis
- Copy crypto trading signals
- 18+ crypto exchanges
- Mobile trading app
- Limited crypto exchanges supported
- Not ideal for beginners
- No desktop application
- 3Commas is not cost-effective for small-volume traders
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.