3Commas Review 2024: Is Trading Bot Safe or Scam?

3commas bot is a legitimate trading bot for cryptocurrency with 16 supported crypto exchanges, and 100+ trading strategies.

If you’re interested in trading cryptocurrency, you’ve probably heard of trading bots. These automated programs can help you execute trades, manage your portfolio, and potentially increase your profits. One popular trading bot platform is 3commas.

In this 3Commas review, we’ll take a closer look at what it has to offer and whether it’s worth using for your own crypto trading needs.

Key Takeaways:

  1. 3commas bot also gives you smart trading tools that help you set advanced triggers for your trades, such as stop-loss, take-profit, trailing stop, and more. You can also track all your assets in one portfolio and link multiple crypto exchanges and wallets.
  2. It has top-notch security and protection for your account and 3Commas API. They use encryption, two-factor authentication, IP whitelisting, and other measures to keep you safe. They also do not store or have access to your funds or private keys.
  3. The bot works with TradingView and Crypto-Signals to give you over 100 trade signals and professional trading methods. You can also use the Options Bot to buy “call” and “put” options on crypto assets and reduce your risks.

3Commas Bot

Amit Chahar

3commas
3commas is a crypto trading bot that lets you automate your trading plans and maximize your earnings in any market situation. You can use ready-made templates from expert traders or make your own custom bots.
💰 Fees and Price
🎁 Bot Features
🔒 Security and Safety
🤝 Ease of use

Summary

3Commas is a crypto trading bot platform that allows you to automate your trading strategies, monitor your portfolio, and trade across multiple exchanges.

You can use different types of bots, such as DCA, GRID, Options, HODL, and Smart bots, to execute your trades according to your preferences. You can also use the SmartTrade and Terminal features to set advanced triggers for your trades and manage them from one place. 

4.4

3Commas Trading Platform Overview

FeaturesDescription
Platform TypeCrypto Trading Bot
PriceFrom $15/month
Security Measures2FA, API Keys, SSL Encryption
Trading BotsDCA, Grid, Options, HODL, Smart, Binance, OKX, Deribit, Bittrex, KuCoin, Kraken, Bitstamp, Huobi, Ripple, etc.
No. of Supported Exchanges16+
Supported CoinsAutomate your trading strategies, reduce risks and losses, and increase profits and efficiency
FeaturesPortfolio Management, Copy Trading, Smart Trade Terminal, Paper Trading, Signals Marketplace
BenefitsAutomate your trading strategies, reduce risks and losses, increase profits and efficiency
Referral ProgramEarn up to 25% commission for every referral who subscribes to a paid plan
Payment MethodsCredit Card (Visa/Mastercard), PayPal, Crypto (BTC/ETH)
LanguagesEnglish, Russian, Spanish, German, French

3commas is a popular cryptocurrency trading bot that allows users to trade on multiple exchanges through a single interface.

The platform offers a range of features, including automated trading bots, portfolio management tools, and social trading functionality.

One of the key features of 3commas is its smart trading bots, which use advanced algorithms to analyze market data and execute trades based on predetermined rules.

Users can create custom trading strategies or choose from a range of pre-configured options, including long and short strategies, scalping strategies, and more.

You can also connect with other traders on the platform and follow their trades, or share your own trading strategies with the community.

Pros and Cons of 3Commas

ProsCons
Automate trading strategiesFree plan with limited features only
User-friendly interfaceLimited exchange compatibility
Backtesting and paper tradingRequires technical knowledge for advanced bots
Variety of trading bots
Stop-loss and take-profit

3Commas Trading Bots Review

3Commas trading bots work by constantly monitoring market conditions and executing trades based on user-defined rules.

These bots act like tireless guardians, tirelessly scanning price charts and market data, sniffing out profitable opportunities, and making trades on behalf of their users.

They can take advantage of sudden price movements and fluctuations in the market, allowing users to maximize their profits and minimize their risks.

With 3Commas trading bots, users can sit back and relax while their portfolio grows.

1. DCA Bot

DCA bot

DCA is a strategy that involves buying a fixed amount of an asset at regular intervals, regardless of the asset’s price fluctuations.

This helps to reduce the impact of volatility on your investment and can lead to more stable long-term gains.

The 3Commas DCA Bot automates this process by allowing you to set up a schedule for purchasing a specific cryptocurrency at regular intervals, such as every day, week, or month.

Let’s say, that you want to invest $1,000 in Bitcoin using the DCA strategy. You could set up the 3Commas DCA Bot to purchase $100 worth of Bitcoin every week for 10 weeks.

This means that regardless of whether the price of Bitcoin goes up or down during that time, you’ll be purchasing a fixed amount of the cryptocurrency each week.

If the price of Bitcoin drops during the 10 weeks, you’ll be buying more Bitcoin at a lower price, which can help to lower your average cost per coin.

It takes emotion and guesswork out of the equation.

2. GRID Bot

GRID bots

Grid trading is a strategy that involves placing buy and sell orders by creating a grid of trades that aims to capture small profits as the price moves up and down within a set range.

Let me give you an example of how the GRID trading bot works.

Let’s say that you want to trade a cryptocurrency that is currently trading in a range between $50 and $60. You could use the GRID Bot to create a grid of buy and sell orders, with the first buy order placed at $50 and the first sell order placed at $55.

You would then place additional buy and sell orders at regular intervals above and below the initial orders, creating a grid of trades that looks something like this:

  • Buy order 1: $50
  • Sell order 1: $55
  • Buy order 2: $52.50
  • Sell order 2: $57.50
  • Buy order 3: $55
  • Sell order 3: $60

As the price of the cryptocurrency moves up and down within this range, the GRID Bot will automatically buy and sell the cryptocurrency at the predetermined price levels.

If the price of the cryptocurrency increases, the GRID Bot will sell the cryptocurrency at a profit and then buy it back at a lower price or vice versa.

3. Options Bot

3Commas options bot

The 3Commas Options Bot is for options contracts on cryptocurrency exchanges. It allows you to automate your options trading strategy by setting up rules and conditions for buying and selling contracts.

For example, let’s say that you believe the price of Bitcoin will increase shortly, but you’re not sure when.

You could set up the 3Commas Options Bot to “purchase a call” option, which gives you the right to buy Bitcoin at a predetermined price if the price of Bitcoin increases above a certain level.

Alternatively, you could set up the 3Commas Options Bot to “purchase a put” option, which gives you the right to sell Bitcoin at a predetermined price.

The bot includes advanced features such as trailing stop-loss orders and multi-level take-profit orders.

Trailing stop-loss orders lets you adjust your stop-loss levels automatically based on the price of the underlying asset. Multi-level take-profit orders allow you to set multiple profit targets for your trades.

4. HODL Bot

HODL bot

The HODL Bot automates this strategy by purchasing a specified cryptocurrency asset at a predetermined price and then holding onto it for a set period, usually several months or longer.

The idea behind the HODL strategy is that, over time, cryptocurrency markets tend to increase in value, despite short-term price fluctuations.

5. Trading View Bot

The 3Commas TradingView Bot allows investors to create custom trading strategies using the TradingView platform and then automate those strategies on a cryptocurrency exchange.

The bot can be configured to execute buy and sell orders based on various technical indicators and signals, such as moving averages, MACD, and RSI.

Related: How does Bybit Trading Bots Work:


3Commas Supported Exchanges

3Commas supports 16+ cryptocurrency exchanges. Here is a list of some of the most commonly supported fiat-to-crypto exchanges:

ExchangeOrder TypesSmartTradeDCA BotGrid BotOptions BotTrading Pairs
BinanceSpot, Futures, Margin1430
OKXSpot, Futures646
KuCoinSpot1280
Coinbase Pro (GDAX)Spot550
Binance USSpot326
BitfinexSpot409
BitstampSpot171
BittrexSpot1003
BybitSpot, Futures561
Crypto.comSpot595
DeribitOptions576
Gate.ioSpot, Futures2569
GeminiSpot108
HuobiSpot907
KrakenSpot654
source

3Commas Price: Does it charge fees?

3commas pricing

3Commas pricing plans: Free, Light, Advanced, and Pro. All plans are commission-free with no hidden charges.

  1. The Free trading bots plan offers limited features such as one GRID bot, one DCA bot, one HODL bot, and one Option bot.
  2. The Light, Advanced, and Pro plans offer more advanced features such as multiple Smart Trades, Terminal, Trailing/Time-Out, and Take Profit/Stop-Loss.

All paid plans include TradingView integration, multi-level referral programs, and a single portfolio for all of your crypto accounts. Mobile apps, API access, and more than 20 trading features are also available.


Key Features of 3Commas bot Explained

  1. Automated Trading: 3commas bot allows users to set up automated trading strategies that can execute trades based on predefined conditions.
  2. Smart Trading: This feature helps users to buy and sell cryptocurrency at the right time by setting up stop loss, take profit, and trailing features.
  3. Portfolio Management: 3commas bot provides users with tools to manage their cryptocurrency portfolios and track their performance.
  4. TradingView Integration: Users can use TradingView charts to analyze cryptocurrency markets and make trading decisions on the 3commas platform.
  5. Exchange Connectivity: The platform supports connections with over 16 cryptocurrency exchanges, allowing users to trade on multiple exchanges using a single interface.
  6. Backtesting: Users can test their trading strategies on historical data to evaluate their effectiveness before deploying them in live trading.

3commas SmartTrade

smartTrade

The SmartTrade Terminal allows users to place multiple orders simultaneously, including limit orders, market orders, and stop-loss orders.

Traders can also set take-profit targets and trailing stop-loss orders, which can help to maximize profits and minimize losses.

In addition to placing trades, the SmartTrade Terminal provides users with real-time market data, including order book information and price charts.

Traders can also use technical analysis tools, such as indicators and signals, to help them make informed trading decisions.

The SmartTrade Terminal is fully customizable, allowing traders to configure the interface to suit their individual preferences.

They can also save their preferred settings as templates, which can be applied to future trades.

3Commas Crypto-Signals

crypto signals

These signals are generated by the platform’s algorithms and are designed to help users make informed trading decisions.

The signals are based on technical analysis and include information such as buy and sell signals.

Users can subscribe to specific signals for individual cryptocurrencies or purchase a subscription to receive signals for a range of cryptocurrencies.

3Commas Portfolio Management

  • 3Commas Portfolio Management allows users to manage their cryptocurrency portfolios more effectively.
  • Features include a portfolio dashboard, auto-balancing, performance tracking, profit/loss calculator, risk management, and exchange integration.
  • The platform provides a clear overview of the portfolio, allows for automatic rebalancing, and tracks performance metrics.
  • Users can manage risk with stop-loss orders and risk limits.
  • The platform supports integration with multiple cryptocurrency exchanges.

3Commas Bug Bounty

3Commas has a bug bounty program that rewards individuals for reporting security vulnerabilities in its platform.

Rewards are given to individuals who report valid bugs, and the amount of the reward is based on the severity of the vulnerability. It helps to improve the security and reliability of its platform.


What are 3commas QFL Signals?

3Commas QFL (Quickfinger Luc) Strategy is a popular trading method that combines technical analysis with market sentiment to identify potential trading opportunities.

The QFL strategy implemented by the trading bots generates buy signals aimed at identifying dead cat bounces, making it particularly useful for accumulating profits in a broad downtrend.


3Commas Security Review

3Commas has implemented a range of security features to protect user accounts and data.

These features include 2FA, API key management, password complexity requirements, data encryption, dedicated servers, multi-signature wallets, and an audit trail.

However, no platform is completely immune to security risks, so users should still take precautions to protect their accounts.

3Commas Hack 🔍:

On November 14th, 2022, Binance founder CZ tweeted about unexpected trading activity linked to API keys from some third-party trading platforms, including 3Commas and Skyrex.

CZ suggested that these platforms may have been compromised, but 3Commas denied the allegations and suggested that users may have fallen victim to phishing attacks. They also launched a campaign to raise awareness and educate users about the importance of security measures.

However, on December 29th, 2022, CZ tweeted again and confirmed that the API keys used on 3Commas had indeed been compromised.

Soon after, 3Commas’ official Twitter handle and CEO/founder also confirmed the hack and stated that it affected 3Commas users’ API keys across all exchanges.

3Commas Backtesting Review

Backtesting is a process of testing a trading strategy on historical market data to evaluate its performance.

With 3Commas backtesting, you can simulate your trading bot’s performance on historical market data and assess its profitability and risk management capabilities.

To perform backtesting with 3Commas, you can select the trading pair, the period of the historical data, and the trading bot’s parameters. Once the backtesting is complete, you can view the results and analyze the bot’s performance.

The results include information such as profit and loss, the number of trades executed, the win rate, and the maximum drawdown.


3Commas Customer Support review

In terms of customer support, they offer email support, live chat, and a help center with a knowledge base and tutorials. They have received a 4.2/5 rating from 1400+ reviewers on Trustpilot.

some users have reported quick and helpful responses from the support team, while others have complained about slow response times and unhelpful support.

Additionally, some users have reported difficulty reaching customer support at all.

Alternatives and Comparison: Pionex vs 3Commas vs Cryptohopper

We Recommend: Best Crypto Trading bots

arbitrage scanner

Best Manually Customized Trading bot

  • 75+ CEX and DEX cryptocurrency exchanges
  • Support over 300,000 crypto coins and 50+ DEX coins supported
  • Insider information on where it is profitable to buy and sell tokens
  • Free training and cases for clients of service
3commas

Proven Success Rate with 1M+ Users

  • 16+ Exchange support
  • Crypto-signals in Telegram
  • Trading view Integration
  • DCA, GRID, options, HODL, Smart trading bots
  • Marketplace to buy automated trading strategies with success rate

Pionex is an alternative to 3Commas that offers similar features such as grid trading bots, smart trade, and stop-loss orders.

Additionally, Pionex provides a wide range of trading tools such as the ability to trade with leverage and arbitrage bots. The platform also offers trading competitions and rewards for users who participate.

There are numerous bot platforms available, but when it comes to a viable alternative to 3Commas, Cryptohopper is another top contender.

Both platforms offer comparable features, such as allowing users to customize their bot or buy signals from a marketplace. Additionally, the pricing of 3Commas and Cryptohopper is fairly similar.

Related Articles:

  1. 3Commas vs cryptohopper
  2. Pionex vs 3Commas

Is 3Commas Safe to Use?

3Commas is considered to be a safe platform to use, as it employs industry-standard security measures to protect user data and funds.

One of the key security features is its use of API keys, which allow users to connect their exchange accounts to the platform without needing to share their login credentials.

This means that even if a hacker gains access to a user’s 3Commas account, they would not be able to access the user’s exchange accounts directly.

Additionally, 3Commas employs multi-factor authentication (MFA) to further enhance security, and it uses bank-grade encryption to protect user data.

The platform also undergoes regular security audits to ensure that it remains secure.


What is 3Commas Smart Bot?

The 3Commas Smart Trade bot is a powerful tool that helps you automate your trading strategies based on market conditions, with features like stop loss, take profit, and trailing mechanisms.

It works automatically based on predetermined rules and technical indicators such as MACD, Moving averages, RSI Resistance, etc.


How to Set up 3Commas Bot?

To use 3commas bot, follow these steps:

  1. First, you need to register for a 3Commas account on their official website. You can pick from different plans based on your needs and budget. The free plan lets you access some basic features and tools, while the paid plans offer more advanced options and functionalities.
  2. Next, you need to link your 3Commas account to your chosen crypto exchange, such as Binance, Coinbase, Kraken, etc. You can do this by going to the Marketplace tab and picking the exchange that you want to use. You will need to give your API key and secret key to enable the connection. You can find these keys on your exchange’s website or app.
  3. After linking your exchange, you can start making your 3Commas bot by going to the “My Bots” tab and clicking on the “Create a Bot” button. You will see a menu where you can pick from different types of bots, such as DCA bot, Grid bot, Options bot, etc.
  4. Once you pick the type of bot that you want to use, you will need to set up its settings and parameters. You can name your bot, pick the base currency and the quote currency that you want to trade, set the order size and the take profit percentage, pick the trading strategy and the indicators that you want to use, adjust the safety orders and the trailing options, etc.
  5. After setting up your bot’s settings and parameters, you can review them and click on the “Create Bot” button. You can turn on or off your bot by clicking on the “Working” button. You can also edit or delete your bot by clicking on the More button.
  6. Finally, you can check your bot’s performance and results. You can also use the Portfolio tab or the Statistics tab to see your overall balance and performance across all your bots and exchanges.

Final Thoughts: Is 3Commas Worth it?

To conclude our 3Commas review, Its user-friendly interface and automated trading bots options make it an attractive choice for both novice and experienced traders.

With its smart trade functionality, trailing orders, and risk management tools, it offers a streamlined way to monitor and execute trades across multiple crypto exchanges.

While there are some limitations, such as a lack of support for certain exchanges and limited customer support options, overall, 3commas is a solid option for traders.


3Commas Bot Review: FAQs

Is 3Commas a legit bot?

Yes, 3Commas is a real and legitimate crypto trading bot that started in 2017 and has more than 200,000 users.

It has many features and tools to help traders make their crypto trading easier and more profitable. It also has high-grade security and protection to keep its users’ money and data safe.

Is 3Commas good for beginners?

Yes, 3Commas is good for both newbies and experts. It has an easy-to-use interface and a lot of learning resources that can help new users understand how to use the platform and its features.

It also has a demo account option that lets users practice trading with virtual money before risking real money.

Can I use 3Commas for free?

Yes, You can use the 3Commas trading bot for free with some restrictions. The free plan lets you access portfolio tracking, scalper terminal, one grid bot, one DCA bot, one smart bot, and an unlimited HODL bot.

However, if you want to use more advanced features and tools, such as options bot, marketplace signals, tradingview signals, etc., you will need to upgrade to a paid plan.

Can you lose in bot trading?

Yes, You can lose in bot trading if you are not careful or skilled enough. Bot trading does not promise profits or remove risks.

It still needs human input and supervision to set up the right settings, watch the market changes, and modify the strategies accordingly. Bot trading can also be affected by technical problems, such as errors, glitches, or downtime.

Amit Chahar

Amit Chahar

Hey! I am Amit Chahar, a Crypto and blockchain content creator at Wallet Reviewer. With 3+ years of experience as a SEO content writer, I love talking about blockchain technology, digital assets, DeFi, Smart Contracts, DApps, Digital Wallets, Metaverse, and NFTs.

Want to hire me? Contact: thecrypticera18@gmail.com

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