If you’re a cryptocurrency trader or money manager, nothing would be better than automating your trades and making money while you sleep. From paper trading to using automated trading bots and keeping multiple orders on track, you only have one answer. If all these concerns resonate with you, then you have come to the right place. 3Commas, a crypto trading platform for beginners and expert traders, can help you earn handsome profits as you do other things. This 3Commas review will help you understand everything you need to know about the platform.
Read on to understand!
Introduction
A close examination of the cryptocurrency market reveals that it is not only highly volatile but also requires constant monitoring. Strangely, it is this same volatility that the traders use to earn handsome profits when they have the right tools and strategies. Trading cryptocurrency is a lucrative endeavor; all you need to do is monitor the market and make strategic decisions to prosper consistently. The use of automated trading bots that allow you to maximize earnings 24/7 with minimal personal effort is the way to go.
One such tool gaining popularity among both new and experienced crypto traders is 3Commas. The automated trading bot platform enables users to realize potential profits from trading that manual traders may easily miss. Some of the issues that could deny you profits include the inability to monitor multiple exchanges simultaneously for different cryptocurrencies. Additionally, you need to be able to place proper and effective take-profit or stop-loss orders.
Automating these activities with a platform like 3Commas can help you manage these and other related challenges without putting in extra effort. The platform utilizes trading bots that enable you to monitor the market 24/7, allowing you to capitalize on all available opportunities, even at unusual times. This is an essential feature in a continuously open market. If you know how emotions can easily interfere with decision-making, then you’ll appreciate 3Commas’ ability to eliminate emotionally based decisions.
The 3Commas bots have brought faster speed and efficiency to crypto trading, and in the process, helped reduce the risk of missing out on fast market changes. With 3Commas automated trading bots, you only need to configure them with the proper risk management settings, and you’re good to go. The platform enables users to customize all trade settings, allowing the bots to adapt to prevailing market conditions.
Let us now take a closer look at how 3Commas is helping traders revolutionize their strategies and achieve financial success.
Core Features
The following are the key features of 3Commas
Supercharged DCA Bots
3Commas offers “supercharged” Dollar-Cost Averaging (DCA) bots that introduce advanced features, facilitating greater automation and strategy customization. The tools enable condition-based buying and selling to maximize profit-making by utilizing multiple profit targets and executing smart orders. The tool is designed to enhance profit-taking when markets are favorable and reduce losses when conditions are unfavorable. This is the feature that differentiates them from the traditional DCA method. With the supercharged DCA methods, users can easily set a trade size and frequency, and integrate them with technical analysis tools like RSI or Bollinger Bands. Additionally, users can leverage the DCA bot’s integration with SmartTrade functionality, including Trailing Take Profit and Trailing Stop Loss.
Backtesting
3Commas offers a robust backtesting feature, designed explicitly for DCA bots. This enables users to test their trading strategies against historical market data, allowing them to avoid risking their funds. The backtesting feature enables you to simulate your trading strategies using historical data, refine parameters, and build confidence before deploying them live. The features include testing historical data on technical indicators, multiple trading pairs, and custom date ranges on 10+ exchanges and 10,000+ trading pairs. You can also backtest advanced performance metrics, such as drawdown or profit and loss, to identify optimal setups. Additionally, the testing also includes integrating AI Grid Bot enhancements using adjusted parameters based on market data, such as trailing up and trailing down.
Signal Bots
The 3ommas Signal bot is a tool that automates trade execution based on external triggers, such as custom webhooks and TradingView alerts, as well as third-party signals. Unlike traditional DCA bots that rely on internal indicators, the Signal Bot utilizes fast, rules-based automation, enabling advanced traders to work more effectively. The result is easy management of multi-pair trading, flexible order sizes, and the integration of technical indicators. The tool’s core features include a unified dashboard that allows users to monitor all bots. Others include automated order execution, performance statistics, implementing short- and long-term trading strategies, and integrated risk management tools such as stop-loss and trailing stops.
GRID Bot
The 3Commas GRID bot is a tool designed to facilitate profit-taking during times of price fluctuations in volatile periods and sideways markets. Its core features include automated 24/7 trading within a predetermined price range that enables buying low and selling high. The function also facilitates the use of customizable settings for grid levels, step sizes, and stop-loss/take-profit orders, as well as multiple bot strategies for different market conditions. Using the 3Commas GRID bot, users can perform in-depth analytics to track profits and optimize their strategies, as well as backtest their strategy before going live. The tool supports both geometric and arithmetic grid types, utilizing geometric grids that offer more advanced features, such as trailing stops for trending markets.
Portfolio Management
3Commas’ crypto portfolio management tool allows users to consolidate their cryptocurrency holdings across multiple exchanges into a single, intuitive dashboard. This will enable users to employ advanced trading strategies utilizing SmartTrade, DCA bots, and Grid bots to automate asset allocation and risk management. The feature allows traders to track performance, automate a rebalancing strategy, and manage multiple accounts. The platform offers paper trading, supports TradingView integration, and includes asset management plans for multi-account management, utilizing bulk trading and performance reporting tools.
Multi-client Portfolio Management
The 3Commas multi-client portfolio management tool enables real-time tracking of crypto assets across multiple exchanges and bots, making it ideal for asset managers who deal with numerous clients. The tool tracks assets across automated trading bots, such as DCA and Grid bots, to help manage risk and maximize profit. It provides deep analysis using advanced SmartTrade tools for manual trades as well as take-profit and stop-loss orders. The tool utilizes analytics tools, including pie charts and performance metrics (daily/monthly returns, Sharpe ratio). Asset managers will find it helpful in managing multi-account execution and secure client onboarding. This enables them to manage multiple client portfolios efficiently from a single dashboard.
Strengths
Advanced Trading Bot Features: Users have access to a wide range of advanced trade automation bot features. Among the standout options are take-profit, stop-loss, and advanced bots that enable users to automate complex strategies and optimize their performance.
Multiple Exchange Support: 3Commas supports numerous cryptocurrency exchanges, allowing users to access a wide range of trading pairs and liquidity pools. This facilitates flexibility while offering users opportunities to increase their profit-making potential.
User-Friendly Interface: The platform boasts an intuitive and easy-to-use interface, making it suitable for both novice and experienced traders. 3Commas’ interface is clean and facilitates straightforward navigation, meaning users can efficiently execute trades and manage their portfolios seamlessly.
Comprehensive Market Analysis Tools: The 3Commas platform offers a suite of market analysis tools, including trading signals, technical indicators, and real-time data. This empowers traders to make informed trading decisions and have an edge with advanced market trends.
Social Trading Community: 3Commas enables users to engage in social trading by copying the moves and strategies of successful traders. This provides a learning and collaboration opportunity within the 3Commas community, where newbies can leverage the wisdom of experts to enhance their skills.
Powerful trading bots: The platform utilizes powerful trading bots, including the well-designed supercharged DCA and GRID, as well as other bots, to automate trading.
Secured trading: The platform uses encryption, two-factor authentication, and other robust security measures to safeguard user data and exchange accounts.
Weaknesses
Subscription Fees: 3Commas offers subscription-based services for users to access the leading trading bots and advanced features. This could result in significant costs and prohibit beginner traders with small portfolios from participating.
Limited Customization Options: Although the platform offers numerous trading bots and features, some users find fault with the lack of customization options. This would limit users’ ability to customize their strategies to meet their exact needs, preferences, and specific market conditions.
Potential for Bot Malfunction: Like all other automated processes, bots can experience technical glitches or malfunctions, resulting in missed opportunities and potential losses. While the platform works diligently to avoid such situations, users remain aware of possible technical issues that may occur. This introduces a steep learning curve, especially for users who aren’t tech-savvy.
3Commas Ideal For
Algorithmic Traders
If you’re starting with algorithmic trading, also known as “algo” trading, you need a safe place to test your strategies and learn. 3Commas offers several features, including copy-prebuilt bots, demo mode, and additional functionalities beyond traditional DCA bots. With 3Commas algo trading, which tech-savvy traders have long dominated, you’re able to use improved exchange APIs. You no longer need to have coding training or experience to analyze data and execute trades, as automation makes it all accessible. The 3Commas trading bots also come in handy when using strategies like arbitrage, market making, and high-frequency trades for potential high returns without emotional interference.
Advanced Traders Executing on TradingView
If you’re an expert trader, you don’t want to spend the entire day studying charts, especially if you’re also juggling a day job and family. With 3Commas, you can easily automate your trading plan using the Smart Trade and bots that can read external signals like TradingView alerts, Java and Python scripts, and PineScript. Additionally, the bots help you easily decipher onchain and sentiment analysis, as well as trade automators, by sending signals from relevant posts via webhook integration.
With the 3Commas tools, you can link your trading practices with technical indicators and strategies from TradingView. This allows you to automate buying and selling based on predetermined conditions. This approach is especially ideal for an advanced crypto trader who is capable of using customized indicators and signals to automate their business.
Semi-Pro Traders Seeking Consistent Income
If you’re an expert trader who already knows how to read charts, follow signals, or use indicators, you can easily scale up your knowledge with 3Commas. The platform offers custom-built bots that match your technical setups and can also backtest them, especially if you’re knowledgeable about using external signals and TradingView. Since you can customize your strategies using the tested DCA/GRID methods, you can set new trading strategies using 3Commas’ advanced parameters and conditional rationality. Moreover, you can use systematic DCA bots at preset intervals to mitigate the impact of market volatility. This leads to positive effects since you’ll be implementing tried and tested strategies.
Professionals Handling Multiple Client Portfolios
3Commas has introduced a specialized tool designed to assist professionals whose daily job is managing several client portfolios. Dubbed 3Commas for Asset Managers, the tool is a premium subscription offering that provides a secure, integrated platform, enabling asset managers to streamline their daily tasks. Some of the key features include assistance with administrative tasks, onboarding new clients, utilizing automated bots to manage trading, and providing detailed performance reports. The 3Commas Asset Managers enables professionals to scale up their operations, enhance efficiency, and maintain focus on returning clients in a dynamic, automated environment.
Pricing
3Commas offers subscription services via four account plans. All accounts come with specific features, with more information found on the company’s website. The pricing plans are suitable for both beginners and experts, and your choice depends on your budget and the desired level of automation.
Here is a detailed explanation of 3Commas pricing plans:
Free Plan – $0/month
This would be the ideal level for a new trader or someone who wants to test drive the platform’s tools without financial risk. With this Plan, you receive access to the SmartTrade platform in demo mode and three active SmartTrades. You also receive up to 10 DCA and GRID bots; each bot has no access to futures trading.
Pro Plan – $37/month (Billed Annually)
If you’re an active cryptocurrency trader intending to integrate automation across different strategies, this is the Plan for you. It provides access to at least 50 active SmartTrades and up to 50 signals, as well as running DCA bots for each of them. You will also receive 10 running Grid bots and up to 500 DCA trends using multi-pair support in addition to 10 DCA Bot backtests per month.
Expert Plan – $59/month (Billed Annually)
With the Expert Plan, you’ll be able to access unlimited active SmartTrades, at least 250 signals, and 50 running GRID bots. These can run an additional 250 DCA bots using multi-pairs available and a high ceiling comprising 2,500 active DCA trades in addition to 500 DCA Bot backtests per month.
Asset Manager Plan – $374/month (Billed Annually)
The Asset Manager plan is custom-made for experts and institutions that manage multiple client portfolios. The Plan includes tools for managing multiple clients, advanced portfolio controls, enhanced dashboards, and invoicing capabilities.
If none of the regular plans mentioned above work for you, you can request a custom plan from 3Commas. This will enable you to incorporate additional limits that directly address your specific needs.
In response to customer requests, particularly regarding pricing plans, 3Commas recently announced the introduction of a Starter Plan. Specifically designed for beginners, the fee is $15/month (annual) or $20/month (monthly). The Plan gives users access to Terminal, SmartTrades, and several DCA & Grid bots to help them get started. The platform has also announced plans to update Pro and Expert plans to give users more backtesting power.
Affiliate Programs
The 3Commas affiliate and referral programs are designed to enable users to earn passive income by introducing new members to the platform. Users can earn commissions based on the trading fees generated by their referrals.
3Commas Referral Program
The referral program targets users who love the product and are happy to share the news with their family, friends, and social contacts. The referrers receive rewards in the form of credit and product discounts, starting with a 25% commission on the subscription fees paid by the referred users. The referrals are also eligible to get a 10% discount on their monthly subscription. You can use your bonuses to buy 3Commas subscriptions or, once you earn over $50, withdraw to a USDT wallet. The process involves creating a referral link, sharing it, and earning bonuses once referrals register and pay for a subscription using that link.
3Commas Affiliate Program (Partner Network)
The 3Commas affiliate program primarily targets influencers and professional traders to promote the platform, offering a financial commission. Affiliates can reach a larger target audience using content marketing or specially designed ads. The platform pays up to 40% on paid subscriptions generated through your link. 3Commas also pays leading-performing affiliates additional bonuses based on the trading volume of their community. All payments are made in USDT (TRC-20) with a minimum payout of $50 and are processed on a monthly basis.
Ambassador Program
The 3Commas Ambassador Program is an exclusive, invitation-only program designed for VIP partners who have demonstrated exceptional performance within the standard 3Commas Affiliate Program. The ambassadors have the privilege of individually negotiating the terms, which are customized based on their contributions. There’s no public application process to qualify for this status, as the platform reviews and selects the individuals and entities based on its own criteria. However, users can enhance their chances of becoming 3Commas ambassadors by doing any of the following:
Grow your audience: As a crypto trading influencer, content creator, or educator, you must build a large audience.
Generate traffic legally: Utilize legitimate channels, such as social media, blogs, or other relevant platforms, to promote 3Commas.
Drive engagement: Ask your audience to sign up and participate in activities, such as purchasing a subscription through your link or engaging in trading.
Increase trading volume: The higher the trading volume of your referrals, the higher the commission tier you’re likely to receive.
While the platform hasn’t specifically publicized the specific perks associated with being a 3Commas ambassador, they likely involve a higher affiliate package. In addition to the rewards and opportunities, participants also have the opportunity for more direct communication and potential collaboration with the 3Commas team on future projects.
Conclusion
3Commas makes it easy for cryptocurrency traders to automate their trading strategies using tools like the DCA Bot, Grid Bot, and Signal Bot. By automating your strategy, you not only save time but also increase your earning potential. Moreover, the platform connects with several supporting crypto exchanges in addition to helping you track your portfolio.
While the platform offers a demo account for beginners, a steep learning curve may easily disenfranchise new traders. All in all, 3Commas can be a great trading tool for any trader interested in controlling and automating their crypto trading journey.
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