Forex Robots

3Commas Review: Is This Crypto Bot Safe and Legit?

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3Commas

3Commas is a platform that claims to assist traders, regardless of the market conditions. It aims to make digital currency trading easier by letting you automate most of the menial tasks. The system is not restricted to a particular timeframe and is capable of functioning 24/7.

About 3Commas

It is a platform offering different types of trading bots for various trading styles. 3Commas also keeps track of your investments and manages your orders efficiently. According to the vendor, it helps you improve your trading outcomes.

3Commas review: key features

Here are the key functionalities of the system:

  • Smart Trade

Thanks to this feature, you can purchase and sell assets from a single interface. You can set up simultaneous stop loss and take profit points that automatically adjust their values based on price changes. It is also possible to set multiple targets for the coins to be sold.

  • Portfolio tools

Here, you can build portfolios with any coin amounts and even monitor the earnings of other traders. Portfolios can be balanced by maintaining coin ratios. Also, you can edit the asset ratios in the portfolio.

  • Custom TradingView signals

The TraidngView platform has over 100 indicators that let you analyze price movement and test your trading schemes. When you connect your bot to one of the indicators, it will initiate trades as per the alerts received.

3Commas: trading strategy

This platform uses a wide range of strategies like Dollar Cost Averaging (DCA), Grid, Options, and HODL. DCA bots invest in currencies at fixed intervals in order to reduce the entry price and control volatility risk. Grid bots form price channels and extremes by analyzing recent volatility levels. It segregates the investment capital, setting purchase and sell order grid within the channel. HODL is similar to DCA, but it offers more in terms of flexibility.

Security of 3Commas

The platform uses an encrypted API for linking to exchanges, so your login credentials are never revealed. For securing user data, it uses DDOS protection, firewall, and SSL/TLS encryption. You can enable 2-factor authentication to make it virtually impossible for someone else to access your data.

How much does 3Commas cost?

There are four pricing plans available. The first one is a free plan that you can use for as long as you wish. For the Starter plan, you need to pay $14.50/month, while the Advanced and Pro plans cost $24.50 and $49.50, respectively. You can also start a 3-day free trial that lets you access all the trading tools.

Deposit and withdrawal

Deposits and withdrawals are carried out on your exchange.

Does 3Commas charge fees and commissions?

Other than the subscription fees, there are no charges applicable.

How much profit can it earn?

Profitability in the crypto market depends on a number of factors, including trading strategy and market sentiment.

Company reputation

This platform was launched in 2017 by three unnamed individuals. Its headquarters is located in Tallinn Estonia and it has a representative office in Vancouver, Canada. 3Commas has received coverage from media outlets like Bitcoinist, Binance, Coinspeaker, News BTC, and Cointelegraph.

User interface

The dashboard shows you overall stats related to your holdings. The user interface is quite intuitive and you can easily check your account and bot settings.

3Commas reviews

User reviews for 3Commas on Trustpilot

User reviews for 3Commas on Trustpilot

On the Trustpilot website, users have praised the usability of the platform. They have also stated that the documentation is very helpful.

Who is 3Commas for?

The strategies offered by the platform are best suited for experienced traders. It offers advanced functionalities and configuration options that allow you to have more control over your operations.

3Commas: supported devices

There is a desktop app for Mac and Windows. You can download the apps for Android and iOS.

What exchanges does 3Commas support?

There are a total of 18 supported exchanges, namely Binance, FTX, Huobi, OKX, Bybit, KuCoin, Gate.io, BitMEX, Kraken, Bitfinex, Deribit, Binance US, Bitstamp, Gemini, Coinbase Pro, Poloniex, and Crypto.com.

3Commas: customer care

You can access customer support via live chat and email. Alternatively, you can send a message using the contact form. Thus, it is clear that the support team is quite active and efficient.

3Commas Crypto Bot

7

This is a versatile platform that offers all the necessary tools for automating your crypto trading operations. It has advanced analytics tools that help you make better decisions and follow your trades closely. 3Commas also keeps your funds secured by following tight security protocols.

  • Large number of supported exchanges
  • Paper trading for strategy testing
  • Referral program
  • Not suitable for newcomers
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