3Commas

3Commas is a cloud-based crypto-trading platform which provides two main services: Smart Trading Terminal and Auto Trading Bots. Smart Terminal is a trading dashboard that allows you to trade on multiple exchanges at one time and provides for advanced order types in addition to many other features. 3Commas is better known for their Auto Trading Bots. These are algorithmic trading bots that automate your crypto trading. You can use one of the many pre-configured bots, copy the strategy of other successful traders in the Marketplace or create your own custom strategy.

Pricing

Plans are based on a three-tiered pricing structure: Starter, Advanced & Pro. The Starter plan has access to Smart Trading but not the trading bots, Advanced has access to both services and the Pro plan has complete functionality and additional features. Subscriptions can be set-up monthly or annually with payment being accepted by Paypal, Apple Pay, Credit/Debit Card or Crypto. The Starter package is $29/month or $174 annually, the Advanced plan is $49/month or $294 annually, and the Pro plan is $99/month or $594 annually. There is a 3-day free trial available so you can test out the system before making a commitment.

Software Type

This is a cloud-based service so it is accessible from anywhere and from any device. There is no installation or maintenance necessary. While cloud-based systems are extremely convenient, there is a small trade-off in security as all billing and trade data are stored on 3Commas servers as opposed to the traders computer in a local install. This is likely only a consideration for the most privacy/security conscious traders.

Exchange Interfaces

3Commas has interfaces with 23 of the major exchanges including: Binance, Binance DEX, Binance Futures, Binance Jersey, Binance US, Bitfinex, BitMex, Bitstamp, Bittrex, Bybit, CEX.io, Coinbase Pro, Exmo, FTX, Gate.io, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex & YoBit. All of these exchange interfaces support the SmartTrade service, but only about half of them work with auto trade bots. And, not all of the ones that work with trading bots work with all the different types of bots. If there is a specific type of bot that you want to work with a specific exchange, it would be best to check this out during the 3-day trial period.

Security

As with most trading bot services, the trading bots connect to your exchange via API and don’t have a withdrawal function. This means anyone accessing your account at 3Commas would not be able to access any funds. 3Commas has all the standard security features that you would expect from a cloud-based service including two-factor authentication. In addition, they automatically send you an email when you login such that if you get a login notification and it wasn’t you that logged in, you know there is a problem. Also, if you try to log in from a new IP address they will send a confirmation code to your email which you must enter before accessing the server. Clearly, they take security seriously at 3Commas.

Backtesting

The backtesting feature is a fairly sophisticated system that allows you to plug in a large variety of variables to test your strategy using historical data. The program generates a graph showing the results of each test to give you an idea as to the profitability of any given strategy. This is an extremely useful tool and 3Commas back test is easy to use.

Paper Trading

The paper trading function can be toggled on and off from within the settings menu. This functionality gives a trader the opportunity to see how a strategy will work in real-time. There is no need to risk capital to determine if a strategy is viable or not.

Drag & Drop Bot Builder

3Commas does not have this feature. However, the interface is well-designed and intuitive.

Scripting Language

3Commas does not have this feature.

Advanced Order Types

Smart Trading has a number of advanced order types including simultaneous stop-loss and take-profit orders, trailing stops and trailing take-profit. Split target trades are also possible wherein you set up multiple exit trades such that you exit with a percentage of the position at one price and exit with additional percentages at successively higher prices until fully out of the position.

Supports Leveraged Trading

The Pro plan provides support for leveraged trading via interfaces with BitMex, Binance Futures and Bybit. Leveraged trading is not supported on the other two plans.

Additional Features

-Copy trading: there is a marketplace where you can follow/copy other successful traders
-Portfolio Re-balancer: lets you allocate your holdings into multiple coins and automatically re-balance your positions across multiple exchanges
-Mobile apps are available for both Android and iOS
Referral Program: receive commissions when you refer others to the service. This pays up to three levels deep. This means you receive payment not only from direct referrals but also, referrals of referrals
-Trader’s Diary: gives you a history of all trades across all exchanges
Cryptotrader.tax: integrates with Cryptotrader.tax for easy tax reporting

  • Pricing
  • Software Type
  • Exchange Interfaces
  • Security
  • Backtesting
  • Paper Trading
  • Drag & Drop Bot Builder
  • Scripting Language
  • Advanced Order Types
  • Supports Leveraged Trading
3.7

Conclusion

While not the most sophisticated trading bot on the market, it comes with a fairly comprehensive set of features, and a modest price tag. Being cloud-based, it has the advantage of not needing to install or maintain software, and accessibility from any device. This convenience comes at a small cost in security compared to running software on your own machine. For someone wanting to get started with trading bots quickly, the ability to copy someone else’s trades from the Marketplace rather than configure your own bot would be a real time saver. All-in-all, 3Commas offers a lot for the money and would be a good for a trader who wants to get up and running with a minimum of hassle and not spend a fortune doing it.