3Commas Review: What You Need to Know

by Forex EA Top Team
3Commas Review: What You Need to Know

3Commas is available in various price packages and allows traders to handle all cryptocurrency exchanges from a unified interface. The platform provides several bots based on multiple strategies that trade in the market based on the parameters set by the investor. The algorithms can work on all sorts of markets i.e. bull, bear, and sideways markets. This review aims to analyze the system’s features, pricing, profitability, security, pros/cons, and much more.

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What is 3Commas?

3Commas is an automatic trading system that consists of three different types of crypto bots, i.e. DCA, Grid, and Options. They can operate on 18 major exchanges including some of the major ones such as Binance, Huobi, Coinbase, etc. While using the averaging, smart trade feature, the bot automatically sells the asset once the target is reached. 

Price:$29/$49/$99 (monthly); $14.5/$24.5/$49.5 (monthly with annual payment)
Payment Options: PayPal/VISA/Master card and Cryptocurrencies
Supported Exchanges:Binance, Bitfinex, Gate.io, Huobi global,Bifinex, Gemini, Coinbase pro, Kraken,Kucoin, FTX, OKX, Poloniex,Bitstamp etc.
Cloud Based:Yes
Strategies:Grid trading, DCA (long and short)

Is it easy to use 3Commas?

The following steps should be followed to get the system ready 

  1. Create a 3Commas account by filling out the registration form present on the 3Commas website
  2. Connect an exchange using an API key
  3. Setup your first bot and start trading

Features of 3Commas

The important features of 3 Commas can be listed as:

Dashboard and signals

It allows its users to add multiple accounts to track their portfolios. The platform provides trading signals which users can connect and trade with full automation.

Long and short algorithm

The platform offers both buy and sell algorithms that can trade both ways.

Trading pairs and pricing 

The system can trade on multiple pairs and comes in various pricing options. There are also three days of free access.

Paper trading 

It allows paper trading; in other words, users can trade without money and test strategies without any risk.

StrengthWeaknesses
Traders can access the platform via a mobile applicationThe features are not the same on every exchange
It provides a free trial of three daysNo current live or backtesting records
The platform is not beginner-friendly

Is 3Commas good?

Trading accounts can be subjected to hacks and exposure to rig pull threat. Users must be aware of slippage in their executions due to liquidity issues.

Is 3Commas safe?

3Commas ensures encrypted API keys and two-factor authentication. The platform cannot access the funds or withdraw them. The platform protects users’ data with Cloudflare, including:

  • Web Application Firewall
  • DDOS attack protection
  • SSL/TLS encryption 

Customer support

3Commas provides support via live chat, email, or filling out the form available on their website. It has a detailed knowledge base and tutorials for inexperienced users. 

There are 1090 customer reviews on trusted third-party platforms like Trustpilot. One customer commented that he has been using 3Commas for nine months and claims that the bot lacks an in-depth tutorial explaining what they do to investors’ money. He adds that the DCA is terrible and does not provide simple options.

Customer feedback on Trustpilot.

Another trader comments that they have the best trading bots for cryptocurrencies. Traders can communicate with the developers regarding any issues. 

Customer feedback on Trustpilot.

Reputation

The 3Commas was introduced in 2017 and has its head office located in Estonia. The platform has 220000 plus registered users and is used in the US, Europe, Asia, etc. The developer provides contact information, but there is no detail available on the individual identities of the team.

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