3commas Review: The Ultimate Guide to This Crypto Trading Bot Platform

3commas is a popular automated cryptocurrency trading bot platform that allows users to automate their trading across multiple exchanges. The platform provides tools to enhance trading productivity and efficiency through automated trading bots, smart trading features, and portfolio management tools.

Founded in 2017, 3commas has quickly grown to become one of the largest crypto trading bot platforms, serving over 33,000 active users. The company is based in Estonia and has expanded its services globally.

Some of the key features and tools offered by 3commas include:

• Trading bots – Automated trading bots that execute trades 24/7 based on predefined conditions. Bots can be customized or subscribed from the marketplace.
• Smart Trade – Tools to help enhance profitability like stop loss/take profit, deal start conditions, maximum safety trades, etc.
• Portfolio management – Unified interface to manage assets across exchanges, track profit/loss, etc.
• Paper trading – Test strategies in a simulated trading environment before going live.
• Marketplace – Discover, buy and sell trading bots, copy trades, and signal providers.

In this comprehensive review, we will take an in-depth look at 3commas’ offerings, features, pricing, pros and cons, and more.

Read on to find out if 3commas is the right crypto trading automation platform for your needs.

Key Features of 3commas

Let’s examine some of the standout features and trading tools offered by the 3commas platform:

Trading Bots

The trading bots are at the core of 3commas’ offering. The platform provides simple to use bots that provide automatic trading based on technical indicators and trading signals. Users can configure the bots according to their trading strategy and risk appetite.

Some popular bots include:

• Long and Short bots – Execute trades based on upward or downward price movements in a particular asset.
• Grid bots – Buys at lower prices and sells at higher prices within a predefined range to profit from volatility.
• DCA bots – Automate dollar cost averaging by buying an asset at regular intervals.
• Composite bots – Allow combining multiple bots to create more advanced strategies.

In total, 23 bots templates are available that can be customized as needed. The marketplace also offers custom third party bots created by experienced traders.

Smart Trade

3commas also provides advanced tools to optimize profitability and manage risk through features like:

• Stop-loss and take-profit – Automatically trigger trades to limit losses or lock in profits.
• Deal start conditions – Start trading only when the asset price reaches a specified threshold.
• Max safety trades – Limit exposure by capping maximum concurrent trades.
• Trailing take-profit – Dynamically adjust take-profit levels based on current price.

These settings give precise control over bot trading activities to align with risk tolerance.

Portfolio Management

The dashboard provides an overview of the entire portfolio across exchanges in one place. Users can:

• Track profit and loss for each exchange or asset.
• Get a consolidated view of balances across all connected exchanges.
• Transfer funds easily between exchanges.
• Track bot performance from the dashboard.

This unified interface eliminates the need to manually check each exchange account.

Paper Trading

The paper trading account mode allows backtesting bot strategies with historical market data. Traders can see how their bots would have performed without risking real money.

Paper trading is ideal for testing new strategies before going live or experimenting with adjustments to existing bots.

Marketplace

3commas has an extensive marketplace that offers:

• Trading bots – Get access to unique bots created by experienced traders or become a vendor to sell your own bots.
• Copy trading – Automatically copy trades from top-performing portfolios of experienced traders.
• Signals – Subscribe to trading signals generated by signal providers to manually or automatically trade assets.

The marketplace expands the possibilities for traders to build diverse portfolios and draw on community expertise.

3commas Supported Exchanges and Platforms

3commas offers a wide range of compatibility with major cryptocurrency exchanges like Binance, Coinbase Pro, KuCoin, OKX, Huobi, Bitfinex, and 30+ others.

Key supported exchanges include:

• Binance
• Coinbase Pro
• Bitget
• BitMEX
• Bybit
• Bitfinex
• Gate.io

The platform also has integrations with leading decentralized exchanges like Uniswap.

In addition, 3commas has apps for both Android and iOS mobile devices so you can manage bots on the go. The mobile apps enable key functionality like monitoring portfolios, changing bot settings, copy trading, and more.

How Does 3commas Work?

At a high level, 3commas allows traders to automate their trading strategies through bots, copy successful portfolios, and leverage trading signals. Here is an overview of how it works:

1. Connect exchanges & wallets – The first step is to connect your crypto exchange accounts and wallets to 3commas. API keys are required to enable trading through 3commas bots.
2. Choose a bot & set up strategy – Select a trading bot template and customize parameters like assets, allocation per trade, indicators, order types, etc. to suit your strategy.
3. Backtest & run bot – The strategies can be backtested with historical data. Once the strategy is finalized, the bot can be deployed live to start automated trading.
4. Monitor performance – As the bot trades, users can monitor real-time performance and track detailed analytics on the dashboard.
5. Utilize marketplace services – The marketplace offers additional tools like utilizing trading signals, copy trading, and accessing custom third-party bots to supplement your core strategy.
6. Manage portfolio – Manage your overall portfolio across all connected exchanges through a unified interface.

That sums up how easy it is to setup and automate trading on 3commas in just a few simple steps.

3commas Pricing and Plans

3commas offers 3 tiers of subscription plans for individual users:

*Pricing as of October 2023. Check 3commas for latest details.

The Starter plan offers limited functionality for free and is suited for beginners to try out basic trading bots. The Pro plan unlocks higher bot count and priority support for high volume traders.

There are custom enterprise plans available for teams as well. Discounts are offered on longer 6 or 12 months subscriptions.

Pros and Cons of 3commas Trading Bot

Let’s summarize some of the key advantages and limitations of using 3commas:

Pros

• Intuitive interface to set up bots of varying complexity.
• Comprehensive trading features for automation and risk management.
• Strong technical indicators and analytics for backtesting strategies.
• Unified dashboard to track portfolio across multiple exchanges.
• Extensive marketplace to enhance trading capabilities.
• Good customer support via live chat and e-mail.
• Compatible with a large number of leading exchanges.
• Active development with regular updates and new features.

Cons

• Bots need monitoring as strategies may require adjustment for changing market conditions.
• No support for automated rebalancing of portfolio allocations.
• Lack of phone support and limited documentation.
• Steep learning curve for complex bots and settings.
• Bot errors can result in trading losses or missed gains.

While the platform has numerous advantages, users need to be ready to actively manage their bots and learn the intricacies of the software for long term success.

Getting Started With 3commas Trading Terminal

It’s straightforward to get started with 3commas app and begin automating your crypto trading. Here are the key steps:

1. Sign up – Create a free 3commas account. No KYC is needed for the starter plan.
2. Connect exchanges – Connect your exchange trading accounts using API keys. Follow the documentation from 3commas to setup API access on each exchange.
3. Paper trade – Run a basic bot in paper trading mode to understand how to configure bots and analyze performance.
4. Choose a bot – Select a bot like Grid, DCA, or Long/Short based on your strategy. Customize the bot parameters as required.
5. Start live trading – When ready, launch the bot to start automated live trading. Monitor performance and adjust settings if needed.
6. Utilize advanced features – Gradually explore smart trading, portfolio analytics, marketplace services to enhance profitability.

Make sure to start small with amounts you can afford to lose when first using live bots to minimize risk. Over time, you can scale up bot trading as you gain experience.

How Beginners Can Benefit From 3commas

For beginners, 3commas provides an easy on-ramp to explore automated crypto trading with minimal risks:

• The starter plan allows accessing basic trading bots and paper trading at no cost.
• Pre-made bot templates make it easy to setup bots with no coding required.
• Paper trading and backtesting help evaluate strategies without committing real capital.
• Dashboard tracking and notifications help monitor bot status and take quick actions.
• Extensive documentation and tutorials explain all features and settings.
• Marketplace provides options to copy proven traders before making your own bots.
• 24/7 live customer support can assist with any issues faced by beginners.

With its combination of powerful trading capabilities and beginner-friendly attributes, 3commas is a great platform for those starting out with crypto bot trading.

Is 3commas Crypto Trading Bot Worth It?

For traders seeking crypto trading automation, 3commas provides an extensive set of capabilities that can enhance profits and reduce risks.

• Powerful trading bots – Automate proven trading methodologies 24/7 across multiple exchanges.
• Sophisticated analytics – Take the guesswork out of trading with data-driven insights.
• Risk management – Features like stop loss and take profit help maximize gains and limit losses.
• Time savings – Bots execute trades automatically freeing up time for other activities.
• Active development – Regular updates with new features and integrations.

Considering these benefits, the pricing is reasonable for unlocking automation and analytics tools that can significantly boost trading performance.

While basic trading bots are available for free, the paid plans offer far greater capabilities for traders who are serious about enhancing their results. For active traders, the return on investment from using 3commas is likely to exceed the subscription costs.

Wrapping Up – Should I Use 3commas?

After reviewing the variety of features 3commas provides for trading automation, analytics, and portfolio tracking, it is clear how valuable this platform can be for us as crypto traders. Though it does have some limitations that require monitoring bots and experimenting carefully, the capabilities unlocked far outweigh the costs for active traders. For crypto investors seeking to maximize returns through technology-powered trading, 3commas is definitely worth considering.

Frequently Asked Questions After Reading our 3commas Review

Is 3commas safe to use?

Yes, 3commas trading platform utilizes best practices around security and privacy to keep user data safe. User wallets and APIs connect using OAuth 2.0 and all data transmission is encrypted. Funds remain on the connected exchanges rather than being deposited with 3commas. As long as strong unique passwords are used, the platform can be used securely.

What crypto assets are supported?

3commas supports trading of all cryptocurrencies available on its 33+ integrated exchanges. This includes major assets like Bitcoin, Ethereum, Litecoin as well as smaller cap altcoins. New assets are regularly added as support expands to additional exchanges.

Can I run bots on multiple exchanges simultaneously?

Yes, through the portfolio management dashboard you can run bots across all connected cryptocurrency trading platforms and exchanges and monitor performance in one place. Exchanges just need to be integrated using API keys and appropriate bot subscriptions purchased.

Does copy trading work for beginners?

For beginners, copy trading experienced traders can be an effective strategy to benefit from proven expertise while still learning the platform. You can configure your risk tolerance while mirroring trades from successful portfolios.

How much starting capital is needed?

One of the benefits of 3commas is that certain bots like Grid bots can be started with only $50 or less. For long/short bots most exchanges require a minimum balance of around $500. So the platform can work for traders with limited starting capital.

Is technical knowledge needed to use 3commas?

The platform is designed to be user-friendly for beginners. But having some technical knowledge of charting, indicators, and order types is helpful to use 3commas effectively, especially for complex strategy bots. Taking advantage of the education resources is recommended.