3Commas Review: Can You Profit While Trading On Autopilot?

3Commas: What is it exactly?

3Commas is a cloud-based platform, like many other automated bots. This means that users can access it anyplace on the go via their smartphone devices or computers. It has mobile applications as well for both iOS and Android operation systems.

The platform’s main objective behind creating it was to help crypto-enthusiasts make profitable trades quickly. For this purpose, they created an easy-to-use and interactive UI and integrated the software with advanced trading features to make trading an easy process for their clients. 

Moreover, the platform’s official 3commas website has also integrated a complete set of instructional videos showing the working of all its features. In other words, the 3Commas trading platform is not only for experienced traders exclusively, but beginners can also quickly jump in to start trading.

Key Features

As we have mentioned above, 3Commas facilitates its clientele for both types of trading; manual trading, and automated trading. Users can trade manually on multiple exchanges at one place with the platform’s advanced features. They can also employ the platform’s trading bot and customize it according to their trading plans or by purchasing third-party signals and strategies using its extensive marketplace.

So to put it categorically, the 3Commas platform provides three essential features to its clientele:

• Manual trading using its advanced features
• Automated trading using its bots
• Extensive marketplace for third-party strategies and signals

Let’s go through all these mentioned features and discuss them in detail.

Manual Trading using Smart Trade

3Commas has developed a powerful user-interface dubbed Smart Trade. Smart Trade enables users to purchase or sell their cryptos across multiple exchanges in one place. Users can customize their Smart Trade easily by using the drag-and-drop fashion. Using this interface, traders can put orders or restrictions on any linked exchanges without login in on each individually. Users are also able to use Smart Trade’s following features:

Set multiple sell targets: Through 3Commas, a trader can specify more than one target for selling his cryptos. For instance, if you were to purchase 100 coins for $1000, you will be able to program the Smart Trade to sell 50 coins when the price reaches $1100, then 30 coins for $1150, and the remaining 20 coins for $1200, watching the 3commas trading system execute the trades as you planned.

Concurrent Take Profit and Stop Loss: Using the Smart Trade Dashboard, a trader can set both stop loss and take profit simultaneously, and the bot will act accordingly, whichever condition is first met.

Smart Cover: It is also one of the great features that the platform provides for trading. It lets traders take advantage of the sudden change of market trends. For example, purchase and sell coins with trailing “take profit” and “trailing buy.”

Support for TradingView: Using 3Commas, an investor can merge TradingView, which is widely considered the most popular charting tools and indicators platform in the world.

Conditional Orders:  The platform lets you purchase and sell coins when it reaches a certain price level. For instance, you can force your dashboard to buy a crypto-coin when it enters a specific price target and instruct it to sell when it hikes or falls from specified levels.

Take Profit and Stop Loss Trailing: It is one of the exciting trading features available on the Smart Trade Dashboard. Using this option, a trader can maximize potential for profits and gains by setting up stop loss trailing. In other words, if an investor sets the trailing stop loss at 10% below the coin’s current price, the Dashboard will automatically keep on adjusting the Stop Loss while the coin’s price is rising. 

Automated Trading with Bot

When it comes to automated trading on 3Commas, a trader has two options: If you are an experienced trader and want to use a bot set with your tested trading strategy and conditions, setting up a bot is easy. On the contrary, being a beginner with no prior trading experience, you can utilize other experienced traders’ trading strategies available on the platform’s marketplace.

Following is the list of features you can utilize in your trading using the 3Commas platform’s crypto bots.

• Once set up and running, the system will operate 24/7 for as long as you want.  You can stop or make changes at any time.
• Research and emulate top-performing trading bots from other users. A helpful feature that allows you to use other traders ’ already proven strategies and configurations to increase your chances for making profits.
• Short and Long Algorithms: Using the trading bot’s long algorithm, you can configure it to buy a particular crypto at a lower price level and then sell at a higher price level, or do it in reverse using the short algorithm.
• Purchase and use various third-party signal indicators.
• Configure the bot to place new orders with multiple starting conditions. This is a helpful feature because sometimes, putting a fresh order as soon as the previous one is closed does not seem logical. For instance, when crypto-price is already reaching new all time highs..
• Use TradingView charting indicators like ULT, RSI, CQS Scalping, TA preset, etc., to assess the best time to create new orders or close the current ones.
• Repeat trades on one pair with the platform’s simple bots. 

Advantages and Disadvantages

Advantages:

• An easy-to-use single-source platform to execute and manage trades on multiple exchanges.
• Excellent platform for beginners to learn all traits of bot trading.
• Outstanding performance metrics, tracking, and strategy testing.
• Programming background for experienced traders enable use of its in-depth, refined technology.
• The platform allows using TradingView signal indicators to optimize bot performance.
• It comes with affordable plans for traders of all levels.
• Extensive library of bots to review and employ in customizing your trading bots.
• Responsive and reliable customer service.

Disadvantages:

• Slightly long and time-consuming onboarding process.
• To use automated crypto-bots, you need to buy the Advanced and Pro plans.
• Mobile application may lag sometimes.

Tariff Plans

Traders of all levels can start using 3Commas and its features by subscribing to either one of its three basic plans. It is worth noting that although the platform doesn’t offer a free version, there is a 3-day trial period available for new users to get accustomed to the forum. Following is the detailed analysis of all three packages that 3Commas offers, including all the features that come with each.

Free Package:

• Scalping Trading Terminal
• One Smart Trade
• Access to one DCA, Options, and Grid Bots each
• One account per exchange

According to the platform, this free plan and its characteristics are available with no expiration.

Starter Package – (USD29 per month)

The Started Plan of 3Commas platform includes all the features of its free plan along with the following:

• Smart Trade (Sport, Futures, and Margin)
• OCO orders (Concurrent Take Profit and Stop Loss).
• Paper Trading with Smart Trade
• 5 Accounts per exchange
• No Automated Bots
• Unlimited amount of active trades

Advanced Package – (USD49 per month)

• 10 Accounts per exchange
• Paper trading with Smart Trade and simple bots
• Algorithmic trading with DCA(Dollar Cost Averaging) simple bots
• Unlimited amount of active bot’s trading deals
• No Gordon and GRID bots
• No future or leverage trading bots(Bybit, BitMEX, or Binance Futures, etc.)
• Unlimited amount of simple bots
• No Gordon or GRID bots.
• Everything that the Starter plan provides.

Pro Package – (USD99 per month)

• Everything that the Advanced package provides.
• Full access to paper trading.
• Access to Binance Futures, Binance Margin, FTX, BitMEX, and Bybit bots
• Access to Gordon and GRID bots
• Algorithmic trading with DCA composite bots
• Unlimited amount of composite bots
• Access to the platform’s Educational course “Teaching trading and algorithmic bots.”

It is also worth noting that the 3Commas platform also offers a massive discount of 50% on all these three packages if users subscribe for 12 months straight at once.

Partnered Exchanges

Not too long ago, six to eight months to be exact, 3Commas had only 7 cryptocurrency exchanges associated with the platform to provide trading solutions to its community. The platform has, since then, accelerated its efforts to link more trading exchanges. At the moment, investors can trade on more than 23 exchanges through its user-friendly interface. 

Having said that, trading on all these 23 exchanges is not supported by the platform’s trading bots. Only 9 major trading exchanges support trading via 3Commas trading bots, the rest of 14 exchange only supports manual trading through the platform’s Smart Trade Dashboard.

Depending on your location, you will need to take that into consideration as the same geographical laws and trading rules still apply. 

The complete list of all 23 partnered-exchanges along with features that each exchange supports, is listed as follows:

• Binance – (Smart Trade, DCA BOTS including GIRD bots, Godon bots, Margin Trading)
• Binance Jersey – (Smart Trade, Dollar Cost Averaging(DCA) Bots including Gordon and GRID bots)
• Binance US – (Smart Trade, DCA Bots, particularly both Godon and GRID bots)
• Binance DEX – (Smart Trade)
• Binance Futures – (Smart Trade on Futures, Grid bots, DCA Bots)
• Bitfinex – (Smart Trade)
• Bittrex – (Smart Trade, Portfolios, DCA Bots, including Gordon bots) 
• Bitstamp – (Smart Trade)
• Cex.io – (Smart Trade) 
• Bybit – (Smart Trade on Futures, DCA Bots, GRID bots)
• Coinbase Pro (GDAX) – (Smart Trade, DCA Bots along with Gordon bots)
• Exmo – (Smart Trade)
• Gate.io – (Smart Trade)
• Kraken – (Smart Trade)
• OKEx – (Smart Trade, DCA Bots, Gordon bots)
• YoBit – (Smart Trade for pars with the volume of over 2 BTC)
• Poloniex – (Portfolios, Smart Trade)
• KuCoin – (Smart Trade)
• Huobi Global – (DCA bots, Gordon bots, Smart Trade)
• HitBTC – (Smart Trade)
• FTX and FTX.US – (Smart Trade, Smart Trade on Futures, Grid bots, DCA Bots)
• Exmo – (Smart Trade)
• Deribit – (Smart Trade on Futures, Options Bots)

Conclusion

Regardless of your trading experience level, beginner or advanced, 3Commas offers a robust platform that works for all users.  

Comparing the majority of trading systems like 3commas, we found them to offer an easy-to-use interface that allows users to create their reliable automated bots by following simple steps. Not just that, the platform is highly integrated and provides trading on several top-notch exchanges such as Binance, Huobi, and Coinbase.

If you prefer manual trading, 3Commas is our favorite choice because of its number of helpful tools. One is the capacity to make the same trading order on multiple leading exchanges like Binance, Huobi, and Coinbase, concurrently using its Dashboard. 

Getting setup takes only a few minutes and you can have a reliable trading bot working for you 24/7, executing trades and aiming for maximum profitability.

Register your 3Commas account today.