This review will look at the 3Commas, an online cryptocurrency trading platform for beginners and experts alike. Specifically, we will consider why 3Commas is popular amongst crypto traders, its features, safety, and security approach, plus its pros and cons. The review also outlines a detailed step-by-step process for creating an account with the service.
3Commas.io is a non-custodial trade automation platform in crypto launched in 2017 by Yuriy Sorokin, Egor Razumovsky, and Mikhail Goryunov. The crypto trading bot service, headquartered in Tallinn, Estonia, is one of the market leaders in its sector, currently serving more than 220,000 active monthly users across the world.
According to its founders, 3Commas was created to help solve the problem of trading cryptocurrency across multiple digital platforms. The service enables users to manage trades and portfolios on more than 18 supported exchanges and more than 2,000 crypto trading pairs.
With 3Commas, users get access to a host of services, including portfolio tracking, smart, paper, and social trading, plus a cryptocurrency wallet with support for more than 45 blockchains.
In brief, 3Commas users get access to some of the following key features:
- Smart trading – 3Commas offers its users a host of trading tools that enable them to trade across multiple exchanges, maintain several positions effortlessly and even have access to order types not supported on some trading platforms such as ‘Take Profit,’ ‘multiple Take Profit Targets’ and ‘Trailing Take Profit’;
- Portfolio tracking – the automated trading service enables its users to monitor and manage their assets on more than 18 crypto exchanges using the API feature;
- Paper trading – 3Commas offers a virtual trading account where users can test out their trading strategies without risking their funds. Paper trading gives a user access to historical data and real-time price action within a controlled environment ideal for testing and iterating. This feature is not only crucial for beginners but also for expert traders alike;
- Trading school – cryptocurrency trading beginners have access to educational material, including guides, tutorials, and blog posts with tips and tricks on how to improve their skills. Users also get to learn how to use 3Commas effectively;
- Social trading – a unique feature offered by 3Commas is the ability for users to track and replicate other traders’ positions and portfolios. Users can buy, sell, or simply share their winning trading strategies through the crypto signals service.
Recommended video: 3Commas.io explained
Why do crypto traders use 3Commas?
As the industry has grown and evolved and the competition has become stiffer, 3Commas has been actively innovating by introducing newer products seeking to maintain its market position.
Although algorithmic trading has been around for decades, even before the invention of Bitcoin in 2009, and therefore experienced traders appreciate the benefit of automated trading. They have opted to use trading bot services such as 3Commas because:
- Time-efficient: These bots help traders do more with less time. A trader can adopt a ‘setup and forget its strategy,’ allowing the software to open and close positions automatically. 3Commas users can manage multiple positions in more than 18 different exchanges simultaneously from a single interface;
- Increased profit potential: Trading algorithmically reduces emotional decision-making, often associated with market losses.
- Social trading: 3Commas users have access to features such as social trading where less experienced traders can track the strategies and portfolio of experts, learning and copying their market positions and portfolio management techniques;
These advantages are not exclusive to 3Commas, however, some of its unique features include;
- Cloud-based services – 3Commas hosts its user interface online, allowing users to interact with their accounts from remote locations using mobile devices and computers alike;
- Intuitive user interface – 3Commas offers a unique and easy to use interface that is ideal not just for experts but also for beginners;
- A comprehensive suite of trading tools – experts appreciate the slew of tools at their disposal with 3Commas allowing them to open market, limit, spot, and futures trades on their accounts. Other features include backtesting, a trading academy, social trading, etc.;
- Accessibility – 3Commas is available worldwide in the US, Europe, Asia, Africa, and Oceania.
- Crypto wallet – the digital asset wallet is a recent addition that allows users to store their cryptocurrencies temporarily on the platform as they manage their portfolios.
3Commas key products and features
1. Manual trading
Despite 3Commas being an algorithmic trading service, there are several functions that are provided to users enabling them to conduct manual trades through the smart trading feature. This function is ideal for expert traders who still wish to have control over their trades.
The smart trading functionality is made up of four tools which are:
- TradingView integration – 3Commas has embedded the TradingView price charting software within its interface allowing users to perform effective technical analysis (TA) on thousands of trading pairs;
- Take Profit and Stop Loss Trailing feature – this is an innovative tool enabling users to set up dynamic take profit and stop loss levels enabling users to maximize profits and minimize losses;
- Multiple sell targets – with 3Commas, traders can set up multiple take-profit targets as they seek to minimize risk and maximize their gains;
- Concurrent Take Profit and Stop Loss – 3Commas users can place both take-profit and stop-loss levels on a single trade simultaneously.
2. Automated trading with Bots
For the traders that seek autonomy, this is the functionality that may solve their needs. There are multiple bots programmed to achieve various functions, and they include:
- Single and multiple-pair bots – these are algorithmic instructions for 3Commas to open one or multiple positions automatically;
- Long and short algorithms – these bots can be used to open long or short trades on multiple supported platforms;
- Grid bot – enables users to set buy and sell levels for multiple future trades;
- DCA bot – the dollar-cost average bot is used to open multiple buy or sell orders at preset levels allowing for a lower buy-in or higher sell-out average position;
- Options and Futures Bot – options and futures are complex financial instruments only supported by a select number of exchanges. 3Commas enables its users to set up Futures trades on exchanges such as Binance, FTX, ByBit, etc., and Options trade on Deribit.
3. Other features
- Portfolio management – managing your portfolio is a crucial skill, and 3Commas makes it simple to create, monitor, and balance and rebalance your assets across multiple exchanges for optimal profits;
- Notifications – 3Commas integrates Telegram bots, email, and browser to provide real-time notifications to users about trades and account statuses;
- Crypto signals – the trading services also include a marketplace where traders can buy and sell trading strategies and setups to less experienced traders;
- Mobile apps – get the 3Commas trading experience and track price action on the move as well as the ability to launch bots, and close orders using the using the mobile apps available on iOS and Android devices;
- Backtesting – 3Commas enables its users to paper trade using a virtual account where they can back-test their trading strategies or even gain experience before jumping on board to trade with actual money;
- Trading diary – also called a trading journal, this tool is used to hold a record of all trading activities, including the comments of each trade. Unlike trade history, which is kept by the platform, a trading diary should also contain comments that explain the reasoning behind every trade taken (or avoided).
3Commas Pricing Plans
3Commas charges a straightforward fee to its users based on pricing packages. There are four packages so far:
- Free – $0;
- Starter – $29/m (50% discount if paid annually);
- Advanced – $49/m (50% discount if paid annually);
- Professional – $99/m (50% discount if paid annually).
With any package, users get access to features such as portfolio dashboard, TradingView integration, access to mobile apps, and all the 18+ supported exchanges.
Generally, the lesser-ranked the package, the fewer features its subscriber has access to, with the Pro package having all the bells and whistles that 3Commas has to offer, including:
- Unlimited access to smart trading tools;
- Unlimited access to trading bots;
- Developer API integration;
- A complete suite of portfolio management tools;
- Preferential customer support access, etc.
3Commas’ chosen pricing model is advantageous compared to most other automated trading platforms that charge commissions on executed trades.
A one-off fee is especially advantageous to large-volume traders. However, 3Commas’ prices are competitive in the market, offering a great alternative for low-volume traders and beginners to consider.
The bot trading service also offers a 3-day Pro package trial to all new sign-ups without requiring any payment information.
Is 3Commas safe to use?
3Commas is designed to operate with as minimal information from its users as possible, thereby reducing security risks. Hackers are often attracted by personally identifiable information (PII), and any service that holds or stores this kind of data is a potential target.
Outside this security design, 3Commas has provided its users with a few essential safety tools, including:
- Use of login credentials (password and email address combo);
- 2FA (second-factor authentication).
On its end, 3Commas encrypts API keys used by its customers to connect to their various exchange accounts. Additionally, the trading service uses the following security tools from Cloudflare:
- Web Application Firewall;
- Anti-DDOS attack;
- SSL/TLS encryption for web traffic.
It’s also worth noting that 3Commas has opted to enable support for leading cryptocurrency exchanges such as Binance, Kraken, Huobi, and Coinbase Pro, among others, with robust security measures.
Binance, for instance, mandates its users to enable 2FA when creating API keys. Kraken is among the few exchanges with zero reported cases of security incidents, an impressive feat given that it has existed for more than a decade.
By extension, the security measures implemented on these large exchanges contribute to the overall safety within the 3Commas ecosystem.
Note: To learn more about the platform’s security measures be sure to read our comprehensive ‘Is 3Commas Safe?’ guide.
How to Create a 3Commas Account (step-by-step)
Creating an account with 3Commas is simple and only takes a few easy steps.
Step 1 – Visit 3Commas.io to sign up.
Click on one of the numerous signup buttons available on the home page.
Provide a valid email address and a strong password.
Click on the verification button to verify your browser then on the [Sign Up] button.
Step 2 – Confirm your email address.
Open your email inbox and check for an email from 3Commas. Click to open it and tap on the [Confirm email] link provided.
You will be redirected back to the 3Commas dashboard. At this point, you have successfully created a 3Commas account and been awarded a 3-day Pro trial offer.
Step 3 – Connect an Exchange.
Before accessing the dashboard, 3Commas will prompt you to connect to one of your crypto exchange accounts. If you do not have one, you can create it by either visiting your preferred exchange either directly or using one of 3Commas provided links.
There are even a few offers for new users to Binance and FTX who sign up for those exchanges through 3Commas.
To connect an exchange, you will need an API key. Using the example of Binance, visit Binance, and sign in to your account. Hover over the user account icon on the top right as shown below and select the [API Management] link from the drop-down list.
On the Binance API Management page, provide a label for the API keys, then click on the [Create API] button. Binance will prompt you to provide your 2FA credentials before proceeding.
Next, copy the API Key provided and its secret key, then paste them into the 3Commas link exchange page as shown here.
Once you have copied the two pieces of information, click on the [Connect] button. API permissions can be edited from your specific exchange’s API management page.
Step 4 – How to subscribe to 3Commas
Paying for a 3Commas subscription is also straightforward. Navigate to the subscription page using the link on the left navigation bar. Tap or click on [Subscription], then choose the package preferable to you.
Next, provide a payment method of your choice. The options are debit cards, PayPal, or cryptocurrencies.
You have successfully created a 3Commas account, connected your exchange, and paid for a subscription.
Note: To learn more about how to add money to your account, read our step-by-step guide on how to deposit funds with 3Commas.io.
3Commas Help and Customer Support
3Commas platform provides a host of information to its users to help them better interact not just with the trading service but also the broader cryptocurrency market. There is library of relevant articles within the help section that gives various details on:
- Pricing and subscriptions;
- Trading (margin, futures and options);
- Bots (how to create and manage them);
- Account management;
- Portfolio management;
- API configuration; andfin
- Information on how to use the 3Commas mobile apps.
Additionally, 3Commas users have access to an informative blog section with articles on important features, updates and industry news. Other than that, there is a FAQ and contact page with email addresses specific to various departments such as support, billing and affiliates; location address information and a contact form.
Other channels through which you can get further assistance include:
Pros & Cons of 3Commas
- 3Commas provides support for more than 18 major cryptocurrency exchanges;
- It’s relatively cost-effective with additional 50% savings on annual subscriptions;
- It offers an exhaustive list of features to enable both manual and automated trading;
- The service is accessible across the world;
- 3Commas has an intuitive user interface across all platforms, including iOS and Android mobile devices;
- There is minimal KYC (know your customer) information required;
- Offers a trading academy for non-experts and beginners to improve their skills;
- 3Commas has a paper trading account for backtesting trading strategies.
- 3Commas is not cost-effective for small-volume traders;
- Beginners and casual traders may not take full advantage of all the available features;
- No desktop application.
For more than five years, 3Commas has been iterating and improving its core proposition, making it one of the leading automated cryptocurrency trading services in the market. It offers most of the features pro traders seek in a trading platform and little else.
Its security measures are sufficient for safe trading, but all users still need to stay vigilant against attacks such as phishing. It is highly recommended to maintain high standards of security hygiene across all platforms linked to 3Commas.
Finally, make use of the active social media forums and chat rooms managed by the trading platform to associate with fellow 3Commas users and learn how to better utilize the service.
FAQs on 3Commas.io crypto trading platform
What is 3Commas?
3Commas is a Tallinn, Estonia-based online crypto trading platform that was launched in 2017 by Yuriy Sorokin, Egor Razumovsky, and Mikhail Goryunov. It offers tools to perform both manual and automatic trading.
Is 3Commas safe?
Since its launch, 3Commas has not reported a significant security incident. It has taken the necessary measures to ensure the security of its systems and users’ accounts, including using Cloudflare as a security provider. It also provides essential safety tools such as 2FA to its users to help secure their accounts.
How reliable is 3Commas?
So far, there have been minimal complaints from existing customers about the reliability of the online service provider. This could be because the service has existed for over five years, giving it enough time to test, iterate and improve on existing processes and systems to ensure class-leading reliability.
How much does 3Commas cost?
3Commas offers four pricing packages to its customers: Free, Starter, Advanced, and Pro. The free package costs nothing but is also feature-limited. Starter and Advanced packages cost $29 and $49, respectively, while the Pro package costs $99. There is a 50% discount for annual payments across all packages.
Is 3Commas bot safe? ›
Is 3Commas safe to use? Your funds are secure because they can't leave your exchange. 3Commas connects to your exchanges via three methods: Fast Connect, Sign Center, or encrypted API. Our system tells your exchange to start and close deals, but has zero access to withdraw or transfer fiat or crypto currencies.How reliable is 3Commas? ›
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.Are trading bots risky? ›
Are Automatic Cryptocurrency Trading Bots Safe? – Using trading bots is considered very high risk, just as trading is. There is a reason that trading platforms always have warnings stating that trading is high risk, and you should only trade with money you can afford to lose.Is 3Commas bot profitable? ›
It's not uncommon for experienced traders to average between 15-25% profit over the many crypto trades they do each week. New users will likely experience lower profit percentages as you learn more about how to do technical analysis of the market and how to fine-tune your bots to get better performance.What are the risks of bots? ›
While malware bots create problems and issues for organizations, the dangers for consumers include their potential for carrying out data and identity theft, keylogging sensitive information such as passwords, bank details and addresses, and phishing. Malicious bots can easily go unnoticed.Can you lose money with crypto trading bots? ›
Trading bots have their own sets of risks as shown above. If the code has flaws, your capital is also at risk of being lost in bad trades. Additionally, they may use complex trading strategies that lose you more money than they make. However, they also remove many other types of risks from your trading activity.What happens when you stop a bot on 3Commas? ›
The "Cancel" button removes all orders for this trade on the exchange and the bot stops working on it. The purchased coins will remain on the exchange, and the service will no longer take any action using them.What is take profit in 3Commas? ›
Trailing Take Profit (or TTP), in short, is a feature designed to help you capture more profits from your trades. When you set your Take Profit target on which the Trailing feature will activate and try to increase your profits as much as possible.Are crypto trading bots a good idea? ›
Answer: Bot trading crypto is recommended to increase trading efficiency and profitability. It also eliminates the possibility of human errors and improves trading speed. With the best crypto trading bots, you can take advantage of crypto volatility, such that the bots pick profits even from the smallest price changes.Should I trust trading bots? ›
Conclusion. Trading bots can certainly take some of the load off your hand if you program them right. If you cannot spend all your time analyzing the market, you can go for them, but at your own risk, as the world of crypto sure comes with high returns, but there are potential risks to it too.
What are the issues with trading bots? ›
For example – risk of bot account to be hacked and API keys stolen, wrong bot settings, error in algorithm that will generate losses instead of profits, sudden crypto market movements, etc. Traders may end up losing their funds or buying a large position in low-liquidity token.What are the disadvantages of trading robot? ›
The trading robot will not be able to react to all events and this may lead to unplanned losses. The lack of emotions, one of the advantages of a trading robot, is also a minus. The robot can drain your entire capital in one day without any embarrassment. This must be taken into account when creating a robot.Can you make a lot of money with trading bots? ›
Do Trading Bots Help Earning Money? Of course yes. That's why many hedge funds, banking structures, and big financial companies hire machine learning and algorithmic specialists. Those people are responsible for implementing automated trading bots to play in the real markets with big money.How much profit can a trading bot make? ›
On a low-volatility trading day, the stock could move between 0.6 and 1 percent. If the bot doesn't lose any trades in this kind of trading month, the trader could potentially earn 20% each month for an all-in strategy. This means that an account with $10,000 will earn up to $2,000.Why are bot accounts bad? ›
In the general online presence, a bad bot can do major damage by gathering passwords, logging keystrokes, and even gathering financial information. It's also been shown that bots can influence trending topics on social media platforms, effectively persuading the opinions of real human users.Do bots steal data? ›
AUTOMATION OF APP ATTACKS WITH MALICIOUS BOTS
Malware infects the app, and the data is stolen. YOUR DATA Attackers make a profit from your data by accessing financial accounts, or selling it on the darknet.
Bot attacks are automated attacks set up by criminals and enabled by scripts (bots) that mimic human behavior and duplicate it. They are deployed against various targets, which can be a website, user, server, or even an API.Can crypto trading bots make you rich? ›
In general, experienced traders who have harnessed the skills can use crypto trading bots to generate huge profits. On the other hand, traders who make hasty trades and lack explicit knowledge of the market can incur losses using crypto trading bots.What is the success rate of trading bot? ›
Some lower-risk crypto trading bots boast a 99% success rate, while others execute higher-risk strategies and have a lower success rate. The main thing most investors need to consider is whether the bot they're looking at can execute their specific investment strategy successfully.How much should I invest in trading bots? ›
How much do you need to start any crypto bot? There is a minimum amount which can be traded on each exchange, and it depends on the cryptocurrency exchange and the pair, an 11-dollar equivalent is usually enough for any pair.
Should I block bots? ›
Bad bots can help steal your private data or take down an otherwise operating website. We want to block any bad bots we can uncover. It's not easy to discover every bot that may crawl your site but with a little bit of digging, you can find malicious ones that you don't want to visit your site anymore.How do you avoid bad bots? ›
- Block or CAPTCHA outdated user agents/browsers. ...
- Block known hosting providers and proxy services. ...
- Protect every bad bot access point. ...
- Carefully evaluate traffic sources. ...
- Investigate traffic spikes. ...
- Monitor for failed login attempts.
Yes, you can run 1 Multi-pair, 1 Grid Bot and 1 Options Bot on an Advanced plan.How do I withdraw money from 3Commas? ›
3Commas does not support withdrawals for security reasons. As a trading platform, it does not need to withdraw funds. Therefore, as a user, do not provide withdrawal permissions to your API keys.Should I take out profits from crypto? ›
If you find yourself something better than what you're currently invested in, it might be a good time to take your crypto profits. Ask yourself if you're willing to let go of your current investment in favor of rechanneling it towards something else.Should I sell and take profits? ›
Here's a specific rule to help boost your prospects for long-term stock investing success: Once your stock has broken out, take most of your profits when they reach 20% to 25%. If market conditions are choppy and decent gains are hard to come by, then you could exit the entire position.How do bots make money? ›
Another way to make money from your bots is by getting paid for them through paid work platforms like Google Adsense or Facebook Ads. These platforms pay out small sums of money each time someone clicks on an ad that was created by a bot built with their platform.Is it illegal to use a bot to trade stocks? ›
Yes, it's legal to use trading bots. Although some people do have their objections to how automated trading impacts the markets, there are no rules or laws in place that keep retail traders from using trading bots.What is the best bot on 3Commas? ›
- 3Commas — Best Binance Bot Overall.
- Murdex — Best for Small Deposits.
- Bitsgap — Best for Sideways Markets.
- TradeSanta — Best for Arbitrage Trading.
- CryptoHopper — Best for Copy Trading.
- Pionex — Best for Flexible Trading.
- Coinrule — Best for Technical Trading.
Many of them simply use predetermined rules to decide whether to buy or sell a particular trade, and these rules are often fixed. This means that you don't have much control over the outcome, and it can lead to very poor results, as well as being extremely frustrating. Trading bots can be difficult to set up.
Are bot accounts bad? ›
However, bots can harm your social media presence and even your business (not to mention invite malware on your computer!). In the general online presence, a bad bot can do major damage by gathering passwords, logging keystrokes, and even gathering financial information.Is buying a trading bot worth it? ›
Answer: Trading bots are profitable for as long as you can configure them properly. The best crypto trading bots will obviously make a profit and it is essential to set to test them or have some sort of guarantee first before buying. Then it is essential to learn their working.Are trading bots worth it? ›
But are trading bots worth it? Trading bots are definitely worth it if the logic they employ to profit in the markets is sound and has been tested thoroughly. Unfortunately, this is seldom the case, and many of the trading bots you'll find online will do nothing but produce losses when traded live.