3Commas Review 2023 : Trading Bots Expirience

*This review is an editorial opinion and does not constitute investment advice.

Want to find out quickly how to run bots and how much you can earn? Here are the shortcuts so you don't have to read the whole article!

In this review, we delve into the world of 3Commas, a comprehensive trading software solution that caters to both novice and seasoned crypto traders alike. We'll explore its multifaceted features, ease of use, and the impact it can have on one's trading strategies. Join me as we uncover the potential of this cutting-edge tool in the ever-evolving realm of cryptocurrency trading.

What Is 3commas cryptobot?

Established in 2016, 3Commas is a service specializing in the automation of trading. The bot provides both preconfigured and tailor-made strategies, while also enabling users to replicate the strategies employed by other traders.
The software scrutinizes the market and trading signals, permitting clients to entrust the responsibilities of monitoring and executing orders.

3commas Advantages and disadvantages

In this manner, traders can concentrate on more pressing matters and engage in captivating activities without interrupting their cryptocurrency trading or incurring unwarranted losses.
The 3Commas software employs an amalgamation of distinct signals, indicators, and triggers to execute trades in accordance with their strategies. Should a user not wish to implement individual strategies, they may opt for pre-installed ones. The social trading mechanism enables the platform to emulate the strategies of other crypto traders and apply them to the client's portfolio.
Alongside automated trading bots, the platform offers manual trading via its Smart Trade mechanism, which facilitates advanced features unavailable on some exchanges.
The software also assists in managing your portfolio and tracking your crypto assets. Certain exchanges utilize this feature to rebalance their digital currencies, ensuring a desired percentage of each cryptocurrency in their portfolio. 3Commas further permits the use of TradingView signals.

Reputation

Despite its relatively short existence, 3Commas has already garnered notable popularity within the cryptocurrency sector. Presently, no review or discussion of top cryptocurrency trading bots is complete without mentioning 3Commas.
The platform is a formidable contender in automated trading, attributable to its user-friendly interface, implementation of diverse strategies, and indicators of profit potential.
3Commas boasts a sizable community that frequently uses its trading services, thereby enhancing the platform's popularity and fostering social automated trading, in which seasoned traders share their strategies with others. Novice traders, in turn, can employ these suggestions and strategies to generate their own profits.

3 Commas Reviews

1108 reviews on Trustpilot. Average rating 4.5. Which is a very good indicator of product quality and service.

Team

The 3Commas team are recognised market experts and frequent guests at international conferences on blockchain and cryptocurrency. An interesting fact is that they trade their own funds on their platform.
All of the top executives are public and you can subscribe to their Twitter and other social media accounts

Yuriy Sorokin - CEO (17K Followers) - https://twitter.com/ys_3commas
Mike Goryunov - CMO (1083 Followers) - https://twitter.com/mikegoryunov
Egor Razumovsky - CTO (1385 Followers) - https://twitter.com/egor_3commas
Katie Campisano - Head of PR (1278 Followers) - https://twitter.com/katiecamp5

What Exchanges does 3Commas support?

The following leading cryptocurrency exchanges are currently supported by 3Commas:

This means that 3Commas trading bots will be able to trade for you on these exchanges.

It is important to note that not all exchanges support the full list of bots functions, so check the capabilities of an exchange before registering on it.

Also add that the robot 3Commas offers special conditions for registration on multiple exchanges.

For example, if you use 3Commas with Huobi Global, you will be able to use automated trading bots for free.

3commas Plans

3Commas provides three distinct pricing plans for customers, with new users receiving a three-day trial period. Alongside charged plans, a free package is available to users with a total digital currency deposit under 750 GBP or those who utilize the 3Commas robot in conjunction with Huobi Global.

Free

This is a free 3Commas plan. It comes with all available features on the platform except paper trading. Please note that only one smart DCA bot is available in the free plan. For the most risk-free trading, our team recommends running 3 or more different trading bots. This is possible on a Advanced or higher plans.

Starter

This plan does not include bots, so it is not suitable for automated trading.

But the package does include the Smart terminal, which allows you to provide the trading tools to make trades manually. It also provides the option of manual paper trading.

You can also use the portfolio management feature:

Advanced 

One of three paid tariffs, including robots.

The tariff operates with a limited support function for automated trading. For example, a composite bot that uses several trading strategies simultaneously is not suitable for this plan. But it does support trading through the Smart Trade mechanism in manual trading mode.

The Paper Trade feature provides full access for manual actions. However, automatic paper trading in demo mode is limited to using simple robots.

Pro

Another plan that provides access to automatic trading. In fact, this is the most popular plan of all.

In addition to the key to fully automated plans, there appears the ability to trade on a simulator with all the available features.

Payment can be made online via PayPal, credit or debit cards, advcash and cryptocurrency.

3Commas Support

3Commas communicates with users via a ticketing system. Alongside this, the platform also has an extensive knowledge base that provides detailed answers to the most frequently asked questions. There are also tutorials for beginners.

At the time of writing, 3Commas also boasts a huge community where traders help each other. This not only sets the platform apart from other automatic trading bots, but also provides users with an additional support mechanism.

How the 3Commas bot works

The 3Commas platform offers a number of useful services for the needs of different traders. To make it easy for you, we describe the main products below.

APIs for connecting to exchanges

Prior to determining the tactics to employ, it is imperative to integrate your external exchange accounts with the 3Commas platform.
Granting 3Commas authorization to your trading account is crucial for facilitating the execution of automated strategies, even during offline periods.
This feature proves advantageous, whether you opt for an automated bot, as it streamlines the process of placing buy and sell orders for digital assets across all linked exchanges.
For instance, assume you have capital distributed among three 3Commas-compatible exchanges as a risk mitigation measure.

Desiring to execute a BTC/ETH trade upon reaching a specific price point typically necessitates logging into each exchange individually and placing orders sequentially.
Contrastingly, with 3Commas, a solitary order can be established through its portal, activated upon meeting predefined conditions.
In the majority of instances, acquiring an API key necessitates navigating to the settings page of the selected exchange.
Armed with the requisite credentials, proceed to the "My Exchanges" segment of your 3Commas account, and select "Connect to a new account."
Subsequently, input the API key obtained from your chosen exchange.
Adhering to these guidelines ensures the successful authorization of 3Commas to conduct trades on your behalf.
Initial exchange linkage to 3Commas may prove challenging; therefore, a Binance connection example is provided below.

Step-by-step Binance API connection Guide

You will be able to connect the API as soon as you register on the platform.
Registering on 3Commas is no more complicated than on any online service:

Step 1: Click on the Sign Up button

Step 2: Register using your Apple or Facebook account or enter your email and password.
Important: Make sure you have a strong password so no one can guess it.

Step 3: Register with Binance (1) or FTX (2) - or if you already have an account, go to API connection (3)

API Connection process

Step 1: Click on link number 3 on the image

Step 2: Select Binance from the list

Step 3: Login to your Binance account and click on your profile icon in the top right corner and select API Management

Step 4: Enter your API keys connection label (any label), we have chosen "3Commas" - it does not affect anything

Step 5: Enter the code from your email, the SMS you received on your phone, and the code from the Google Authenticator

Step 6: Finished! You have your API key and your secret key

Step 7: Go back to the 3Commas interface and enter these details, then click on "Connect Account to 3Commas". Yay! You are ready to launch your bots

Now you need to choose your own bot type and start trading, let's talk about this next

So, after you have connected the right exchanges to 3Commas, you need to decide which trading strategy you are going to use.

Before we move on to automated bots, we need to discuss the SmartTrade feature.

As we mentioned in the previous section, 3Commas allows you to execute trades on multiple exchange platforms through a single hub. This hub is called SmartTrade.

Automated Trading Bots

Crypto trading and technical analysis are complex and take many months to learn. You will also need diligence, mathematics and a bit of luck.

But you can start earning without going deep into technical analysis, as 3Commas offers ready-made bots, which you can choose and run

The platform has a total of 2 types of trading bots and a whole marketplace of signals.

Gordon bots

The Gordon bot is a regular "DCA" bot that is already somewhat set up for users to help them get started quickly. It's ideal for the user who has not used bots before and wants to get started trading quickly and with ease.

Note: To use Gordon-bots on 3commas, you'll need a Pro subscription, as this feature requires access to "composite" bots.

What trading strategies does Gordon-bot use?

Bots need a 'strategy' or rules for trading.

Gordon-bots use a special trading strategy, which is pretty well known in the crypto community as "QFL". QFL strategy is designed for long positions only (i.e. buy low and sell high).

How does QFL strategy work?

The QFL 'Quick Fingers Luc' strategy is named after its creator and is based on support levels, called 'bases'.

A base is an area of support from which the price has 'bounced' previously - the more often the cryptocurrency finds support at a certain price level (or the more time it has spent to that level), the 'stronger' the base is.

QFL is great for profiting from possible dead cat bounces - when the price falls sharply and reverses, but without much strength, and soon continues to decline.

Profitability of Gordon bots

Profit from such automated trading bots is about 13-17% a MONTH. Yes, it's not 100000%, but it's still a phenomenal return. Keep in mind that when the market drops/rises sharply, the returns can change.

How do I launch my Gordon bot?

Step 1: Choose any bot you like and click "Cpoy"

Step 2: Click Start.

Pay attention to how much funds the bot will need to successfully trade. If you have less money in your balance, the bot will not work efficiently
On the right side you can see bot profitability statistics.

We highly recommend such bots for beginners

Grid - bots

Grid bots are ideal for margin trading cryptocurrencies out of trend. For example, cryptocurrencies that do not move up or down following any clear direction. This kind of behaviour is also known as ranking, sideways movement or "Bart Simpson's Movement".

Creating and using Grid bots is very simple and ideal for beginners; both in terms of working with bots in general, and in terms of technical analysis and working with charts.

! Please note: to use Grid-bots on 3commas you will need a Pro subscription. Currently, Grid-bots support multiple exchanges Binance (except DEX), Bitmex, Bybit, FTX, and Coinbase.

What strategy does the Grid-bot use?

Bots need a "strategy" or rules for trading.

Grid bots use the Grid trading strategy, which originated in the forex markets. Essentially, the strategy creates a series of horizontal buy and sell levels, and the cryptocurrency trading bot accumulates profit as the price moves, "bouncing" within the lined grid.

How does the Grid-bot strategy work?

The strategy is really very simple: you specify the upper and lower limits of the grid price and the number of grid levels. The Grid-bot will determine the range equal to the difference of the upper and lower price levels. By dividing the resulting figure by the number of specified levels, the crypto trading bot obtains the size of the grid width.

As a result, the Grid-bot creates a chart starting from the bottom level by adding a new level using the width before reaching the top level of the grid.

Creating your own Grid bot is as simple as creating a Gordon bot, but we highly recommend starting with Gordon bots.

Bots Marketplace

Here you can find signals and trading strategies for bots by famous and experienced traders.
It is very simple - look at the profitability of bots, which trade on the signals of a particular trader, and just copy the bot

How much profit can 3Commas automated crypto bots make?

An average profit of around 15% per month is about 160% per year. Yes, it's not 1000%, but it's a VERY GOOD stable profit. If you are not a professional trader - crypto-bots are a great opportunity to create passive income.

Our team has already launched 6 different bots on 3Commas and we will publish the results of our tests soon 🙂

Customizing the trading bot

Here are the basic metrics that allow you to customize the 3Commas platform.

SmartTrade

Another cool 3Commas feature is Smart Trading, let's take a closer look at it.

As we mentioned in the previous sections, 3Commas allows you to execute trades on multiple exchange platforms through a single hub. This hub is called SmartTrade.

In a nutshell, many of the features available through SmartTrade, in particular stop-loss and take-profit orders, will be available in the exchange platform, but some SmartTrade features you won't find on exchanges.

So you can take your cryptocurrency trading activities to the next level.

The set of features from the SmartTrade hub that you will use is ultimately determined by your experience and knowledge of how trading strategies work.

However, to give you an overview of some of the most commonly used features, we have decided to describe them in more detail below.

Trailing order

Trailing orders are an extremely useful tool that has long been popular in the traditional stock market.

Regardless of the underlying asset the bot is programmed to trade, trailing orders essentially allow you to automatically change the stop loss and take profit parameters. In addition, this is done with market conditions in mind.

For example, suppose you want to open a BTC/USDT trade on Binance.

Bitcoin is currently valued at $10,000 and you decide to program a trailing order to exit the trade if it loses 10% in value.

Like a regular stop loss, the SmartTrade protocol will close your trade if the bitcoin price drops 10%.

But what if the bitcoin price starts to rise? Usually you are limited to a fixed take profit order.

A trailing order will adjust both stop loss and take profit percentages.

Continuing with the same example, let's assume that bitcoin increased in value by 20% and so it is now worth $12,000 paired with USDT.

Although your stop loss was previously set at $9,000 (10% of $10,000), it will now move to the $10,800 level.

The reason for this is that a stop loss order with a 10% value will adjust as the Bitcoin price rises.

Short Positions

If you are using a cryptocurrency exchange that supports short selling, the SmartTrader platform allows you to set orders for short trades.

For example, if you are trading ETH/USD and think that a key support level around $230 is about to be broken, then you can instruct the 3Commas platform to sell your current savings and execute a short position order instead.

This is very beneficial if you want to react quickly to market conditions and thus maximize your upside potential.

In addition, short sell orders placed through 3Commas allow you to profit when the entire cryptocurrency trading arena is in a bearish phase.

Smart Sell.

While the Smart Sell feature available through the SmartTrade hub may seem a bit complicated at first glance, once you get the hang of it it becomes a very valuable tool.

In its most basic form, Smart Sell allows you to sell a particular coin or group of coins and then, after a period of time, buy them back.

For example, suppose you currently hold a large amount of XRP, but are concerned that the price of this cryptocurrency is about to begin a short-term decline.

However, you are confident in the long-term viability of XRP, so you want to return to the market when the price reaches a certain figure.

Instead of doing it all yourself in all accounts on cryptocurrency exchanges, you can have SmartTrade do it on your behalf.

If you want to go one more level higher, you can even try automatic dollar averaging.

You will buy a certain amount of coins each time their price reaches a new low.

For example, you could instruct the platform to buy £ 500 worth of bitcoins when the price reaches levels of £ 9000, £ 8000, £ 7000, and so on.

Security

The platform is hosted on a secure server, making it more secure to use and eliminating the need to install any desktop applications.

However, 3Commas strongly discourages providing full access APIs with withdrawal permissions. The platform protects customers from having funds fall into the hands of fraudsters.

Note: for bots to be successful luanched on youe account, you only need to give 3Commas the rights to trade on your behalf, but not to withdraw money. This is available on every exchange API.

3Commas also provides two-factor authentication (2FA), which further protects traders' accounts and personal information.

Profitability

3Commas is one of the few trading robots that openly declares its ability to generate profits. Although the software doesn't specify profit percentages for new users, the platform literally mentions in bold that users can "increase their profits."

 At the same time, the platform's three-day trial, which doesn't require any payment information, also becomes a great way to test its services in real time.

Our own research shown that average monthly profit is about 15%

3Commas Summary

Conclusion

3Commas is a great all-around trading bot that can suit the needs of both beginners and experienced traders. We recommend starting with the trial plan to get used to the features, then switching to an advanced plan to maximize your profits. With multiple sell targets bots, you can stop losses at predetermined points and protect your investment while making a profit. Have you tried 3Commas? What has been your experience?

Disclaimer:

Cryptocurrency trading embodies a substantial degree of risk and may not be appropriate for all investors. Prior to engaging in cryptocurrency trading, you ought to meticulously assess your investment objectives, level of experience, and risk tolerance. It is inadvisable to invest funds you cannot afford to lose, as there exists the possibility of losing some or all of your initial investment.
It is crucial to be cognizant of the hazards associated with cryptocurrency trading and to seek guidance from an independent financial expert unaffiliated with any cryptocurrency exchange. The opinions, news, research, analysis, prices, and other information provided on this website serve as general market commentary and do not constitute investment advice.

FAQs

Is 3Commas bot profitable?

Yes, 3Commas is a very profitable bot. It has been able to generate significant returns for its users. However, it is important to note that like any other investment tool, there is always some degree of risk associated with its use. Still, if you use it correctly, 3Commas can be a very powerful ally in your trading arsenal.

How much does 3Commas cost?

It depends on how much money you want to invest in it. 3Commas is a tool that can help you manage your cryptocurrency portfolio and automate your trading. The cost for this service ranges from £29/month to £99/month, depending on the features you need.

Can you use 3Commas for free?

No, you can't use 3Commas for free. However, there is a 14-day trial period during which you can try out all of the features of the 3Commas service. After that, you'll need to sign up for a paid plan in order to continue using the service.

Can I use 3Commas with Coinbase?

Yes, you absolutely can! 3Commas is one of the most popular and well-known crypto trading bots, and Coinbase is one of the most popular and well-known cryptocurrency exchanges. In fact, many people use 3Commas specifically because it integrates so nicely with Coinbase. You can learn more about using 3Commas with Coinbase here: https://3commas.io/help/integrations/exchanges/coinbase/getting_started

Is 3Commas free with FTX?

Yes, 3Commas is free with FTX. There are no monthly fees or costs associated with using 3Commas. You can use all of the features and functionality without paying anything.

Is 3Commas have mobile apps?

Yes! You can access 3Commas on the go with our mobile apps for iOS and Android. The apps are free to download and include all the features of the web platform, so you can trade cryptocurrencies, manage your portfolios, and more, anywhere you have an internet connection.

What is 3commas grid bot?

The 3commas grid crypto trading bot is a simple yet effective way to trade cryptocurrencies on the popular exchanges Binance and Kucoin. It basically places buy and sell orders on your behalf at regular intervals, trying to profit from the small fluctuations in price that happen all the time.

It's a completely automated process, so you don't need to do anything except set it up and then sit back and let it do its thing. And because it's always working away in the background, you can take advantage of market opportunities even when you're not actively monitoring your screens.

If you're looking for a hassle-free way to trade cryptocurrencies, the 3commas grid bot could be just what you need.

What is 3commas social trading bot?

Essentially, 3Commas is a social trading bot that allows users to automate their cryptocurrency trades. The bot connects to your exchange account and executes trades according to the strategies you set up. You can also use the bot to copy other traders' strategies, which is a great way to learn from more experienced traders. Overall, it's a great tool for automating your cryptocurrency trading!

Is 3commas bot safe for trading?

To provide the highest level of security and privacy for our customers, 3Commas uses SSL/TLS encryption between visitors and origin servers. This means that all data exchanged between our visitors and servers is encrypted, providing an additional layer of security.

In addition, it have a comprehensive set of safety features in place to help protect our customers' funds. These features include mandatory 2-factor authentication, whitelisting of IP addresses, and risk management controls. Also have a team of experienced risk managers who constantly monitor the markets to identify any potential risks.

Latest page updates

8 November 2021 - Added 3Commas Team Section

9 November 2021 - Added Binance API connection Guide

9 November 2021 - Bots profitability research made and added to the page

9 November 2021 - Gordon Bots and Grid Bots - added to the article

8 June 2022 - Support Service
21 July 2022 - Trading process, particular trade, trading dashboard, trading parameters

01 February 2023 - Added Comparison table