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3Commas Review 2024: Is It The Finest Trading Bot?
Swen Keller
- URL: https://3commas.io
- Year Founded: 2017
- Pricing: Up to $99 monthly
- Free Trial: Yes
- Payment Options: Bank credit card or debit card, cryptocurrency, and PayPal
- Supported Exchanges: Binance, OKX, Bybit, Deribit, Gate.io, Kucoin, Coinbase Pro, Binance TR, Bitfinex, Bitstamp, Bittrex, Crypto.com, Gemini, Huobi, Binance US, and Kraken
- Cloud Based: Yes
- Reported Profitability: Dependent on the user's strategy but 15 to 25% monthly is an average for experienced traders
- Customizable Strategies: Yes
- Scalping: Yes
- DCA: Yes
- Arbitrage Bot: Yes
3Commas Review: Our Opinion
3Commas is a well-established and reputable automated crypto trading bots service. The trading bot platform is easy to navigate even for newbies and setting up a crypto trading bot is seamless and quick.
Its pricing is the industry average and there’s also a 3Commas 7-day free trial for users who want to test the bot first before committing to a monthly subscription.
3Commas also offers its automated trading bots on over 15 crypto exchanges. However, unlike a lot of its competitors, 3Commas does not offer automatic trading bots for its free plans, which makes the package unuseful.
An Overview of 3Commas
3Commas was created from a desire to build centralized trading and cut off the need to constantly monitor open positions.
The company was founded in Tallinn, Estonia, in 2017 during the Bitcoin surge by its 3 co-founders Yuriy Sorokin (Chief Executive Officer), Mikhail Goryunov (Marketing Advisor), and Egor Razumovskii (Chief Technology Officer).
Other members of the team include Andres Susi (Chief Business Development Officer and Co-Founder), Kateryna Abashkina (Chief Human Resources Officer), Ilya Ilyasov (Chief Operation Officer), Dace Cerbikova-Silova (Chief Financial Officer), Anna Jansons (Chief Legal Officer), and Sargis Arutyunyan (VP of Product and Design).
Currently, the 3Commas crypto trading bot platform allows users to deploy automated trading bots ( DCA bot, Grid bot, etc)to execute 24/7 trading, shop on its marketplace for trading bot presets, and automatedly mitigate risks associated with their trading strategies.
3Commas aims to develop a dependable platform for cryptocurrency trading bots, designed to assist users in avoiding emotional trading decisions and achieving consistent profits in their cryptocurrency investments.
Over the years, 3Commas has gained over 90,000 monthly active users, more than 270 employees worldwide, $225+ billion trading volume, and $37 million in Series B funding.
Pros
- User-friendly interface
- Beginner-Friendly
- Supports over 15 crypto exchanges
- Offers a free trial
- It offers manual trading with Smart Trade
Cons
- The free plan is limited
3Commas Review: Unique Features
Paper Trading
3Commas Paper/ demo trading allows you to practice your trading skills and test new trading strategies without risking real funds.
You do not need to invest any actual funds in paper trading as the paper trading account is a simulation where you trade with virtual currencies.
With your 3Commas demo account, you can practice with the platform’s full features. You can also experiment using TradingView custom bot messages or build your apps with 3Commas’ Developer API.
3Commas allows you to manage real and demo accounts at the same time. You can only create one demo account, but 3Commas allows you to manage bots according to your needs.
To ensure the smooth running of the demo account system, 3Commas allows a maximum of 1,500 active deals. The maximum number of DCA bots is also 1,500. These numbers are combined across real and demo accounts.
You can create up to 1,000 active DCA bots in a real account and up to 500 on the demo account.
The Paper Trading account replicates actual price movements on real exchanges and in real-time. The demo account also simulates 3Commas fees of 0.1% per order.
3Commas demo account price movements, trading pairs, and chart data are duplicated from real trading prices on the Binance.com Spot market.
The Demo account can be funded with up to $10,000 in virtual funds for trading.
You can also get your starting balance in the following crypto balances: 1,000 USDT, 50 ETH, 300 BNB, or 1 BTC.
You can reset your demo account and buy more coins when you exhaust your starting balance.
Since trading is done with virtual currencies, profits made with the demo account can not be transferred to your real exchange account.
While the demo account simulates the real account, the demo account is isolated from your real account. This means if you play with manual trading via the Smart Trade feature on the demo account, it will not affect your live account balance.
Unlike the live account, paper trading accounts do not simulate liquidity. There is no order book simulation and no partial fills. While this difference may not be noticed in high liquidity pairs, the difference is noticeable in low liquidity pairs with thinner order books and fewer traders.
The demo account is not a paid feature but you need to be subscribed to one of 3Commas plans to be able to use the demo account. And the demo account you get will match the subscription you have active.
With the 3Commas Starter plan, you can create multiple Smart Trade on the demo account but you only get 1 HODL bot, 1 Grid bot, and 1 DCA bot.
To enable your 3Commas paper trading account, all you need to do is to go to account settings, find the “Show Demo Account” on the right-hand side of the page and switch the Toggle to green. Next, click “Activate” under Paper Trading on the top bar and set up your own bot.
Once this is done your demo account has been created and you can create crypto trading bots, automated trades and Smart trades the same way as you would on the Real account.
You can switch back to the Real trading account whenever you wish by clicking on the Real summary balance card.
You can also reset your demo account at any time and start afresh. Resetting your demo account will remove all trading history on the demo account and reset balances.
To reset your demo account, switch to demo mode and cancel all trades, bot deals and stop all bots. If you don’t do this, the account won’t reset.
Next, go to the “My Portfolio” page.
Navigate to the Demo account modal window and click on the 3-dot menu.
Click on the “Delete” button and click “Confirm”.
Confirm the deletion.
Finally, click the “Activate” button on the top bar. If the button is not available, refresh the page.
That’s it! You now have a new paper trading account.
As already stated, you can add more funds to your paper trading balance if you exhaust the starting balance. There is no limit to how many times you can top-up your demo account.
To add more funds, open the “My Portfolio” page on your demo account and click “View” on the Paper account.
Click “+$1000” and confirm.
The funds added are in USDT, but you can convert them to other currencies if required.
3Commas Marketplace Signals
3Commas offers a marketplace where you can find various signal providers that offer monthly subscriptions to their trading signals for a fee or free of charge.
In most cases, the higher the quality of the signals, the higher the subscription price.
Here is how marketplace signals work.
When you subscribe to a signal provider, you create a bot with the settings recommended and given by the provider’s page.
After creating the bot, you select your preferred signal provider as the “deal start condition”.
This will allow the bot to operate by relying on buy and sell signals sent by the provider.
In some cases, some providers will require you to sign up to their website to access the trading bot’s settings and support.
3Commas offers a free trial for the PRO subscription. You can use this free trial to test all the tools and access the different marketplace signals that require tools that are only available on the PRO plan.
3Commas offers a selection of signal providers on the marketplace suitable for both expert traders and beginners.
Here are some of the available signal providers on the 3Commas marketplace:
- Quickstart Bots: These providers offer ready-to-use bot configurations
- Popular: These are the most subscribed signals on the marketplace
- Free: These signal providers are free. You can subscribe and unsubscribe at any time
- Sale: These signal providers offer subscriptions with discounts.
- My Filter: This allows you to set any filter you need. This includes followers number, signal count, cost, exchange, profit, coin, APY, etc.
There is also a “My subscriptions” section where you can view the signals that you are subscribed to.
Signal Providers on the 3Commas marketplace differ based on specific parameters.
Parameters used include:
- Free/paid
- Trading pairs
- Exchanges they use
- Long/Short position
- Available options of sending a signal to close the deal (this entails either Stop Loss or Profit taking)
- Stop Loss option being mandatory and preset for the bot or not recommended
3Commas offers users the option to either deploy quick start, risky, or stable signals.
- Quick Start signals: The signal providers in this category offer ready-to-use bot configurations.
- Stable: These are calculated using the Sharpe ratio. If a provider is in the top 20%, it falls in the stable category.
- Risky: Signal providers that are not in the top 20% fall into the risky category.
3Commas allows users to sort the list of providers using additional parameters. You can also search for your parameters on the Marketplace page. This is however recommended for experienced or professional users.
Caution is required when searching for your parameters. You should carefully study the signal description, provider support information, and performance of signals before purchasing a subscription.
To ensure transparency and authenticity, 3Commas collects and displays trading information like the profit and loss of signal providers. The real profit and loss numbers are displayed in percentages or trades made by bots of users subscribed to the signals.
If you see “No data” displayed next to a signal, it means the signal has not been used by anyone to open a deal or the deal is still open and not yet executed.
The minimum and maximum profit of each signal is also available to view. And the maximum profit indicates the maximum profit a user has earned using the signal while the minimum profit shows the lowest profit made by the bot closing the deal.
If you are not sure of which signal to choose, it is best you select multiple signal providers and find the support communities for the signal providers.
In the support communities, you can find other traders and signal users who will teach you how to find and choose useful signals.
3Commas Supported Crypto Exchanges
3Commas supports 16 crypto exchanges.
Supported crypto exchanges include Kraken, Huobi, Gemini, Crypto.com, Bittrex, Bitstamp, Bitfinex, Binance US, Binance TR, Coinbase Pro (GDAX), KuCoin, Gate.io, Deribit, Bybit, OKX, and Binance.
3Commas Review: Trading Strategies
3Commas supports a wide range of trading strategies including the following:
- Concurrent Take Profit and Stop Loss: This strategy closes a deal when the indicated price is reached or when the price drops below an indicated value.
- Sell by Multiple Targets: Sell your digital assets by multiple targets.
- Long Algorithm: The 3Commas bot places orders for sale which are set at a higher price than was purchased.
- Short Algorithm: The crypto trading bot sells a cryptocurrency for a high price and then buys it again at a lower price.
- Analyze and Copy Other Bots: 3Commas advanced trading bots with this strategy analyze the trading strategies of other bots and then copy them.
- Trailing GRID Strategy: The trailing grid bot moves upward with the market and dynamically establishes new grid lines and places more buy orders so that it will keep trading if the price dips a lot.
- Dollar Cost Averaging Strategy: The DCA automated trading bots invest in a currency at preset intervals to cut down the entry price of a position over time and reduce volatility risk.
- HODL Strategy: This trading strategy also follows a conventional Dollar Cost Averaging investment technique but with additional flexibility. Basically, with this trading strategy you choose the asset you want to buy and how frequently.
- Buying a Call: This is the main strategy used by the 3Commas Options trading bot. The primary benefit of the strategy is the limitation of losses.
- Buy a Put Option: This trading strategy does the opposite of the Call Options strategy and also works with Options Automated trading bots. With this strategy, the loss is limited as well by the premium paid for the Option.
- Sell a Straddle: This trading strategy works by selling Put and Call options with the same strike price and contract expiration. However, it offers limited profit and is vulnerable to unlimited losses. 3Commas recommends using it only when you expect a drop in market volatility.
- Buy a Straddle: This is a combined strategy that consists of 2 simple ones Long Put A and Long Call A. It works by buying Put and Call options using the same strike price and contract expiration date. The profit is unlimited and arises when the underlying assets move in any direction.
3Commas Review: Customizable Strategies
Beyond its automated trading presets, 3Commas allows users to integrate customized automated trading strategies by connecting their trading bot to one or more TradingView indicators of their choice.
Once this is done, the trading bot will automatically receive notifications/alerts and then open trades accordingly.
Alternatively, you can input your trading strategies by setting up a bot using technical indicators.
3Commas Review: Plans and Pricing
3Commas offers different pricing models that can be paid for annually or monthly. Listed below are the monthly pricing plans:
Free Plan
This plan is free forever and offers portfolio trading and an unlimited scalping terminal. It does not offer any trading bots. The idea behind the free plan is for you to get a feel of the platform. However, since it doesn’t offer a cryptocurrency trading bot, this may be difficult to ascertain.
Starter Pricing Plan
The Starter 3Commas pricing plan costs $29 monthly and features the following:
- One GRID Bot
- One DCA Bot
- (One multi/single pair for Spot or one for Futures)
- One Smart Bot
- Unlimited HODL Bot
- One Options Bot
- Unlimited Active SmartTrades
- Unlimited Scalper Terminal
- Demo account
Advanced Pricing Plan
This plan costs $49 monthly and features the following:
- One GRID Bot
- Unlimited DCA Bots
- (Unlimited Single pair for Spot and one multi-pair for Spot or one for Futures)
- One Smart Bot
- Unlimited HODL Bot
- One Options Bot
- Unlimited Active SmartTrades
- Unlimited Scalper Terminal
- Demo account
Pro Pricing Plan
This Pro pricing plan costs $99 per month and offers the following features:
- Unlimited GRID Bots
- Unlimited DCA Bots
- (Unlimited Multi/Single pair for Spot & Unlimited for Futures)
- One Smart Bot
- Unlimited HODL Bot
- Unlimited Options Bots
- Unlimited Active SmartTrades
- Unlimited Scalper Terminal
- Demo account
All supported pricing plans excluding the free plan offer the following features:
- 16 supported exchanges
- Multi-level referral program
- TradingView integration
- All supported crypto accounts in one portfolio
- Free mobile apps
- Over 20 trading features
3Commas Review: Payment Methods
3Commas offers the following payment options: Bank card, PayPal, and cryptocurrency deposits.
If you want to use the free trial before subscribing, it is only available if you choose your credit or debit card or PayPal as your payment method. The cryptocurrency payment option is not available for the free trial.
To subscribe for a 3Commas pricing plan open the subscription page and then choose a monthly or yearly plan.
The annual plans are paid for in a lump sum (the full yearly amount will be debited from your account once for 12 months) and usually have a monthly discount cost in comparison to the monthly pricing plans.
Next, tap “Buy Now” or “Activate Trial” under the pricing plan you intend to subscribe for.
It is important to note the trial is only available for the PRO plan.
Select a convenient payment method and then accept their terms of use, refund policy, and recurring payment policy if you agree.
Lastly, click the “Activate Trial” or “Pay” button.
Enter your card details if you opted for the bank card option. If you choose PayPal, you’ll need to log into your account to make a payment.
Note that the payments made are set as recurring. So if you do not want to be charged automatically then you can cancel the option in the Subscription history section of your account.
3Commas Review: Opening a 3Commas BOT Account
To open a 3Commas account, go to https://3commas.io.
Next, tap the “Sign Up” button then enter your email address and password, or use your Google account, Apple ID, or Facebook account to sign up by clicking on the relevant buttons.
Go to your email address and click the verification link sent to your inbox from 3Commas.
If you choose to Sign Up with your Google account you won’t need to check your inbox as 3Commas will log you in instantly.
That’s it! You’ve successfully created a 3Commas bot.
Setting Up 3Commas Trading Bot with Exchanges
To set up your 3Commas bot, log into your 3Commas account.
On the first page shown, you’ll see 3 options: Trading Bots, Trading Terminals, and Portfolio Tracker.
Click on the “Trading Bots” button.
You’ll see all available trading bots including DCA bot, Grid bot, Smart bot, HODL bot, and Bot presets.
The bot presets are proven automated trading strategies, which means that you won’t have to customize a bot.
Select your preferred bot.
Next, you’ll see a list of all supported 16 cryptocurrency exchanges, choose your preferred crypto exchange by clicking on it.
If you don’t have an account on an exchange you want to use, 3Commas allows you to create one on the next page by clicking on a “Create an Account” link.
Select whether you want to trade Binance Spot or Futures on the drop-down menu supposing you have a Binance account.
Click the “Connect Binance” button. You’ll be redirected to the login page on Binance.
Enter your Binance login details.
Lastly, confirm your connection to 3Commas.
This will give 3Commas to your trading history, trading balance, and permission to place orders from your account.
3Commas will not have permission to transfer or withdraw funds from your account.
After the connection, you’ll see a Main Settings page.
Choose a Name for your bot.
Select your bot type Single Pair or Multi-pair.
Pick the pair you went to trade on Binance or your connected crypto exchange.
Select the parameters of your trade which include Long or Short, Profit Currency (USDT for example on the USDT/BTC pair).
Enter the order amount and order type (limit or market).
There’s also a toggle for users on the 3Commas Pro pricing plan that’ll instruct the bot to reinvest the profit.
Next, select the conditions necessary for the bot to execute a trade. You can also go to the signal market to find the right conditions for trade execution.
You can then set other conditions like Take Profit and Stop Loss percentages.
3Commas allows you to set Dollar Cost Averaging parameters as well.
There is also the option of closing each trade after a set timeframe.
Lastly, tap “Start Trading” or “Connect to an Exchange” to execute the trade if you skipped that step.
That’s it! You’ve set up your 3Commas bot.
3Commas Review: Trading Experience
3Commas offers a straightforward trading experience targeted at both beginners and advanced investors.
It supports a wide range of trading strategies and parameters to set a comprehensive trade as well as manual trading via the smart trade function.
Also, setting up a trade using any trading bot (grid bot, DCA bot, etc) is fast and typically takes less than 5 minutes for beginners.
In general, the trading experience is comprehensive, covering everything you’d want on a trading platform.
3Commas Review: Security
3Commas is a non-custodial platform. While your 3Commas account can be used to trigger actions on your connected exchange account, you cannot withdraw funds directly from or via 3Commas.
3Commas connects to your exchange account using API keys. The platform uses 3 important pillars of security around API connections to ensure maximum security while trading using the 3Commas platform.
Sign Center
The Sign Center is a secure API key storage that is isolated at both infrastructure and access levels to ensure the security of the 3Commas system.
It signs transactions using a protocol that is similar to how Ledger or Metamask signs a transaction.
When 3Commas makes a trade request with an exchange, it will ask the Sign Center to sign the transaction.
That said, when you create an API key with your crypto exchange, you can specify an IP whitelist that can be used to restrict the API key to certain IP addresses.
This can be used to authorize official 3Commas IP addresses and block any others. The result is that other IP addresses cannot be used to initiate trades with your exchange account if the trade request did not come from your 3Commas account.
Fast Connect
Fast connect helps you to quickly authorize specific account permissions, create API keys and automatically connect to third-party API link platforms.
With Fast Connect you can log in to your exchange account through the connect function on 3Commas. It automatically generates API keys and binds to the 3Commas platform.
This allows you to start using 3Commas services without manually creating API keys.
Transactional Access Only
As already stated, 3Commas has zero access to transfer or withdraw fiat and cryptocurrencies from your account. The system only tells your exchange account to start and close deals.
The API does not have the functionality to request your personal information from the exchange. This means your exchange account login information cannot be exploited.
Asides from the 3 secure connection protocols, users’ data are protected with several security features from security providers like Cloudflare.
Available security features include DDOS attack protection, Web Application Firewall, and SSL/TLS encryption between visitors and origin servers.
3Commas also has a security checklist that users can check to ensure that their security is not compromised.
This includes checking the address in your web browser to ensure you are connecting to the right address which is either https://3commas.io or https://app.3commas.io.
You can secure your account with 2FA if the account was created with Facebook or Apple ID. Also, ensure that you use a strong and unique password different from your email address.
You can also hide your account balance when your interface is viewable by others.
3Commas Review: Customer Service
3Commas offers customer support via Live Chat and email.
The platform also offers customer support via its Telegram group.
Asides from sharing ideas and trading strategies, the moderators in the Telegram group can help you resolve any problem you may have while using the platform.
3Commas has a self-service help center that is equipped with detailed articles about several aspects of the platform.
If you are unable to get answers to your questions in the Help Center, you can contact the customer support team via the in-app support widget.
Information on the 3Commas website shows that response to in-app support may be temporarily delayed when there’s an influx of customers.
That said, the 3Commas customer support team offers good service to customers. At the time of writing, the platform has a 4.1-star rating in Trustpilot.
Does the 3Commas Trading Bot Platform Offer Education?
Yes, the 3Commas bot platform offers education via the 3Commas Trading Academy. The Academy features up to 20 video tutorials, articles explaining basic cryptocurrency terms, technical analysis materials, and much more.
3Commas Review: Final Thoughts
3Commas offers a comprehensive trading bot platform that supports a wide range of trading strategies. It is targeted at both beginners and professional users as it is easy to set up/use and offers advanced trade parameters.
That said, besides the Pro plan, other packages are limited and not as comprehensive. It also doesn’t offer a free trial for any other plan aside from the Pro plan.
If you want to learn more about the Crypto Bots and consider other options, take a look at our detailed Tradetron Review, also compare the industry’s best on our Best Crypto Trading Bots article.
FAQ
Most frequent questions and answers
Yes, 3Commas is a legit cryptocurrency trading bot that is partnered with top crypto exchanges and has been on the scene since 2017.
The average profit when using a 3Commas bot is dependent on the strategy in use and the experience of the trader. However, its bot presets have delivered monthly profits of up to 31%.
Yes, a crypto trading bot can generate profits if you use a profitable strategy on the right market.
Yes, there’s a free version of 3Commas but it is extremely limited and you won’t get the full benefits of the platform using it.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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