3Commas Review: Beginner-Friendly Crypto Bot Trading

Crypto traders are constantly seeking tools that can enhance their trading strategies and profits. 3Commas stands out as a sophisticated yet user-friendly trading bot designed to amplify the potential of crypto trading.

In this comprehensive review, we delve into the core features, usability, strategies, security, and pricing of 3Commas to help traders make an informed decision.

Visit 3Commas

Key features

3Commas is renowned for its array of features, including automated trading bots, smart trading terminals, and an array of supported exchanges. It caters to both novice and experienced traders, offering a suite of tools to streamline trading activities, making it one of the best crypto trading bot platforms in the market.

Before we dive into the nitty-gritty details of each feature, let’s quickly sum up the core products and services offered by 3Commas:

• DCA Bot: Designed to allow investors to efficiently execute the dollar cost averaging strategy, which is essentially buying an asset at preset intervals to reduce the entry price risk.
• GRID Bot: Can execute complex, repetitive trades that are best suited for sideways markets when there are no significant price swings.
• Signal Bot: Leverages 3Commas webhooks to execute complex strategies with numerous entry and exit strategies, advanced alert-based actions, and automated signal processing.
• Exchange Bot: Can be deployed on 14 major crypto exchanges, including Binance, Coinbase, and Kraken.
• TradingView Integration: 3Commas bots can make use of the most popular charting platform, TradingView, and leverage 100s of indicators for testing and executing bot trading strategies.
• Terminal: Allows traders to access their exchange funds, coin markets and pairs, and place market, limit, and conditional orders.
• Smart Trade: Combines all exchanges and TradingView signals into a unified dashboard that allows users to place market, limit, conditional, take profit, and stop loss orders, as well as analyze markets more efficiently.
• Crypto Signals: Users can subscribe to signals posted by analysts in the 3Commas Signal Marketplace and launch bots that execute trades based on these signals.
• 3Commas Apps: Users can publish their apps (which are essentially bot instructions and trading strategies rolled into one) on the 3Commas Marketplace, where other users can subscribe to them.
• API Integration: Developers and other knowledgeable users can leverage 3Commas’ API to enhance their trading bots further. The feature is currently in beta.
• Academy: Learning resources – including articles and videos – on 3Commas bots and other features, trading strategies, and price analysis.

User experience and interface

3Commas boasts a user-friendly interface that will make sense to any trader who has used a crypto exchange or stock broker before. The difference here is that 3Commas acts as a unified place where you can manage funds from different exchanges easily and employ trading bots that can take your trading to a new level.

3Commas Terminal. Image source: 3Commas

Ease of use

Compared to some other trading bot platforms, 3Commas has been clearly designed with a beginner user in mind. Every feature is where you’d expect to find it, and switching between exchanges, coin markets, and trading pairs is a breeze. So is the selection of different trading orders, which is largely in line with orders you might find on crypto exchanges such as Binance and Coinbase.

Customization and control

Flexibility is key in trading, and 3Commas excels in this area. Users have the liberty to tailor their trading strategies, adjusting parameters to fit their risk tolerance and investment goals. The platform’s ability to allow users full control over their trading decisions is a significant advantage.

Still, if you are new to trading bots and you want some guidance in designing your strategies, 3Commas has got you covered in that regard as well. You can use one of the many apps in the 3Commas Marketplace, copy trading strategies from analysts on TradingView, and more.

Trading bots and tools

If you are interested in using 3Commas, it’s likely because of trading bots. They come in different versions and allow users to employ different levels of complexity depending on their inherent design. Let’s explore what bots 3Commas offers and what we can do with them.

DCA Bot

The DCA bot, as the name suggests, is a trading bot designed to leverage a dollar cost-averaging strategy. The idea behind the idea is simple: since timing the market is not a smart move, you set aside the money you want to invest into a particular asset and invest on a predetermined schedule and predetermined amounts. This averages out your purchasing cost over a longer period of time, which alleviates risks associated with price entry (hence the name). 

Read more: How Much to Invest in Crypto Per Month?

3Commas’ DCA bot can be customized to a great deal of complexity, which can cover virtually any market condition. In addition to DCAing into an asset, like Bitcoin or Ethereum, for example, you can also use the bot to average out and set predetermined selling orders.

Key features:

• Can follow signals or operate on completely predetermined strategies, regardless of market conditions
• Long and short strategies
• Single- and multi-pair bot types
• Take profit and stop loss orders
• Ability to reinvest profit

GRID Bot

The parameters for GRID bot are highlighted in red on the right side of the screen. Image source: 3Commas

Next up, we have the GRID bot. It allows users to make use of several different premade strategies that are tailored for different market conditions (including extremely bullish, bullish, sideways, bearish, and extremely bearish). 

The GRID bot can be especially useful for high-frequency investors who engage in day trading crypto. It can easily execute numerous orders with small price steps, which is often used by arbitrage traders and when using crypto scalping strategies. It’s worth noting that there’s also an option to backtest the bot before using real money. 

Key features:

• 5 premade GRID strategies
• Useful for scalping, arbitrage, and other high-frequency trading strategies
• Backtest strategies
• Geometric and arithmetic strategies

Signal Bot

Signal Bot is a versatile and user-friendly tool designed to enhance trading efficiency for both novice and experienced traders. It integrates seamlessly with TradingView via webhooks, allowing for simplified management of multi-pair trading positions based on webhooks alerts.

Essentially, Signal Bot can leverage various candlestick chart patterns and combine technical and fundamental indicators to allow users to tailor their trading strategies.

Key features:

• Integration with TradingView
• Backtesting based on TradingView data
• Scaling of entry orders
• Customizable alerts and strategies

Exchange bots

Once you connect your exchange account to 3Commas, you can use exchange bots to manage funds in your exchange accounts from 3Commas with exchange bots. The platform supports all of the best crypto exchanges, 14 in total. In the following section, we are going to list all supported exchanges and respective markets that can be accessed through 3Commas.

Supported exchanges:

• Binance (Spot, Futures, Margin)
• Binance TR (Spot)
• Binance US (Spot)
• Bybit (Spot, Futures)
• OKX (Spot, Futures)
• KuCoin (Spot)
• Bitfinex (Spot)
• Bitget (Futures)
• Coinbase Advanced (Spot)
• Gate.io (Spot, Futures)
• Gemini (Spot)
• HTX (Spot)
• Kraken (Spot)

It’s worth noting that not all exchanges support all 3Commas’ features. For a more detailed breakdown of features supported by each exchange, we suggest you visit the official website.

Backtesting and analytics

Before you put your trading bot into action, it’s best to test out its capabilities in a virtual environment so you don’t risk real money. You can easily do so with 3Commas, which allows you to backtest your bots.

This method allows traders and investors to evaluate how a strategy would have performed in the past, under various market conditions, without risking actual capital. On 3Commas, you can backtest your strategies directly using chart data available via TradingView.

Pricing and plans

There are three distinct 3Commas pricing plans: Beginner, Pro, and Expert. The plans differ in the number of supported bots that can be run simultaneously and, obviously, the price. Check the following table for a side-by-side comparison of all three plans.

*The annual plan comes with 25% savings compared to renewing a subscription each month.

If you are just starting out with trading bots, we suggest you try out the Demo Account option first, which allows you to play around with virtual funds and employ different strategies without risking real money. Once you feel comfortable with using the platform, you can decide between the three plans depending on your particular set of needs and trading goals.

What is the best alternative to 3Commas?

3Commas is not the only crypto trading bot platform in the market. Each platform has its own pros and cons, but we would say that 3Commas leads others in terms of features, user experience, and pricing. However, you might want to check out 3Commas alternatives. For a more detailed breakdown, check out the following articles:

The bottom line

3Commas is overall a good choice for users who might feel restrained by trading options provided by their exchange and want to use trading bots to enhance their trading strategy. It offers all the bells and whistles you might expect out of a trading bot platform and is focused on providing a beginner-friendly experience that doesn’t break the bank.

If you are especially interested in pursuing arbitrage opportunities that arise due to price discrepancies between the same assets on different exchanges, check our list of the best crypto arbitrage scanners.

Visit 3Commas