The high-paced world of crypto trading is thrilling but can be stressful and demanding for investors. Prices fluctuate wildly, markets never sleep, and making a decision on what the right trade at the right time is can be daunting. As traders, we constantly juggle analyses, emotions, and the ever-present fear of missing out.
3Commas is a platform that offers a variety of automated trading bots and advanced tools intended to streamline crypto trading. It promises to take some of the guesswork and stress out of trading, but does it live up to that promise?
In this comprehensive review, we’ll dive deeply into the features of 3Commas. We’ll explore its features, ease of use, and overall effectiveness, and we’ll take a look at its pricing structure. We tested one of 3Comma’s bots, and our results below will give you a better understanding of whether the platform is the right tool for you on your crypto trading journey.
What are 3Commas Features?
Founded in 2017, 3Commas is now a well-established player in the crypto trading arena. The platform boasts an impressive track record, with over USD 400 billion in trading volume recorded to date. But does it deliver on its promise of simplifying crypto trading? Let’s dive into its features to find out.
Advanced trading bots
3Commas has several trading bots with sophisticated functionalities suitable for seasoned crypto traders and beginners alike. For example, its Multi-Pair Bot allows simultaneous trading across multiple crypto pairs, diversifying your investment opportunities. Further, features like its multiple take profit/stop loss and trailing mechanisms allow you to fine-tune your risk management and profit optimization strategies.
For traders who want to refine their strategies, 3Commas has backtesting tools that simulate a bot’s performance using historical data. The platform also offers auto-reinvesting that automatically compounds your profits. Additionally, built-in technical indicators allow you to incorporate market analysis directly into your bot configurations, giving you the information required to make a trading decision.
Copy trading strategy
3Commas recognizes that not everyone has the time or expertise to create complex trading bots from scratch. To address this, they offer a feature called “Bot Presets,” which essentially allows users to copy proven strategies directly into their accounts. These presets were created by experienced traders and cover a variety of cryptocurrencies and trading styles. If you’re unsure where to start with bot creation or want to learn from seasoned professionals, this feature can fast-track your automated trading journey and bypass the initial learning curve.
Customize your trading strategy
The platform offers integration with TradingView, a leader in crypto technical analysis. We believe this integration could be particularly helpful for newcomers to the crypto space. TradingView’s extensive suite of tools, including over 100 indicators, allows for in-depth analysis of asset price behavior. Its backtesting capabilities let you simulate trading strategies before deciding to adopt them.
We think more seasoned traders will find the ability to create custom indicators and signals within TradingView helpful. Additionally, the platform’s global markets research tools, like the stock screener and economic calendar, allow you to identify the most promising assets.
Portfolio tracking
3Commas streamlines portfolio management by providing a consolidated view of your crypto assets. The platform allows direct connection to exchanges and wallets, along with the ability to create custom accounts for specific tokens and coins. These features enable you to track the performance of your portfolio accurately and effortlessly and optimize your trading strategy.
Crypto trading academy
In any trading landscape, knowledge is power, and that’s particularly so in the fast-paced world of crypto. 3Commas’ crypto trading academy is a valuable resource for traders of all levels.
The academy offers a series of introductory courses that break down the fundamentals of using the platform. We found the videos on the courses to be easy to understand and believe the introductory level is a helpful resource for new traders.
The platform also has a comprehensive YouTube library that explores strategies and bot configurations. Whether you’re a beginner seeking to understand the basics or an experienced trader looking to refine your approach, 3Commas has accessible, well-structured content that could improve your trading.
Trading Bot Test
There’s no substitute for seeing how a tool functions in the real world. To better understand the potential of 3Commas’ Grid Bots, we conducted a small-scale live test using the platform’s grid trading strategy.
Setup
- Asset: Ethereum (ETH), currently trading sideways within a definable range.
- Price range: We set a range between USD 1500 and 1700 based on recent data.
- Grids: We wanted a balance of grid tightness vs. transaction fees, so we settled on 12 grids.
- Safety orders: We opted for a neutral setup to optimize for true sideways markets.
- Investment: We allocated the equivalent of USD 100 in ETH.
The test
Initially, Ethereum’s price stayed comfortably within our defined range, successfully triggering trades within our grid. We encountered some minor price fluctuations that dipped slightly outside of the range, but these weren’t severe enough to activate the safety orders we had in place. After a few days, there was a surge in Ethereum’s price, pushing it toward the upper limit of our grid. The bot demonstrated its adaptability by smoothly shifting into placing sell orders to capitalize on the price movement.
Throughout the test, we maintained a log of transaction fees to aid our final evaluation.
Our week-long test ended with a modest but encouraging profit of USD 8, representing an approximate 8% return on our investment. Further analysis revealed that roughly 70% of the grid trades were profitable. However, it’s worth noting that transaction fees reduced our overall profit by about 15%.
Analysis
- Success in the sideways market: Grid Bot showed its potential in range-bound conditions, generating small but consistent income.
- Fee awareness: Transaction fees on smaller trades had a noticeable impact on profits.
- Range accuracy: Our price range prediction was adequate, but a wider range might have captured more profit during the mid-week surge.
- Not a “set and forget” tool: While automated, monitoring the asset and market shifts is crucial.
Key takeaways
After our test, we believe 3Commas’ Grid Bots hold promise for automating trades in specific market conditions; however, the following should be taken into account:
- Careful analysis of the asset and market behavior is key.
- Fee optimization should be part of strategy planning.
- Bots are powerful tools but not a substitute for market awareness.
What is 3Commas’ Pricing?
3Commas offers a full-featured trial period, allowing users to explore the platform’s capabilities before committing. The trial doesn’t require you to input your payment details.
Subscription plans
After the trial period has ended, 3Commas offers three tiered plans, depending on your needs. Details below:
- Pro Plan (USD 37/month): A suitable plan for many traders, it includes 50 Active SmartTrades, 10 each of Signal/Grid Bots, 50 Running DCA Bots, and the capacity for 500 Active DCA Deals.
- Expert Plan (USD 59/month): Ideal for more active traders, this plan provides unlimited SmartTrades, a boost to 50 each of Signal/Grid Bots, 250 Running DCA Bots, and 2,500 Active DCA Deals. It also unlocks the sub-accounts connection feature.
- Custom Plan (contact platform for pricing): These plans offer personalized limits and higher API requests and are tailored for high-volume traders.
Payment options
3Commas supports traditional payment methods like Visa, Mastercard, PayPal, Google Pay, and Apple Pay. Additionally, it accepts popular cryptocurrencies, including Bitcoin, USDT, and BUSD.
Discounts of up to 25% are available for those who opt for annual billing.
What’s included in all plans
Regardless of the plan you choose, you’ll receive core features like:
- Futures trading
- Trailing up and down
- TradingView integration
- 3Commas API
- Demo account
- Signals
- Backtesting (accessible across 14+ exchanges)
Flexibility and Considerations
You can upgrade or downgrade plans as needed. Any unused time on your current plan will be credited to your new plan. The platform offers a refund for unused time on annual plans but doesn’t support recurring subscriptions if you pay in crypto.
Conclusion
Crypto trading can be incredibly rewarding, but, like most investing, there is an inherent risk. Platforms like 3Commas aim to simplify the process with their automated strategies and trading bots. Understanding the pros and cons of these platforms is crucial for getting your trading strategy right.
Our test of a 3Commas Grid Bot showed that careful market analysis was still important, even with an automated trading bot on your team. We believe that our test showed that 3Commas could be a helpful addition to your trading armory. As with any crypto trading tool, we recommend you start with a trial, experiment with small investments, and thoroughly research the platform and its features.
