3Commas Crypto Trading Bot Review and Alternatives

An exclusive review of 3Commas – an excellent crypto trading bot platform well-known for automated crypto investing. Check 3Commas alternatives for traders at any level – from novices to experts:

3Commas provides different crypto trading bots with which traders can automate their trading journey regardless of the trading strategies they want to employ.

The bots range from portfolio rebalances, hodling bots, DCA bots, Grid bots, scalping bots, and signal bots, as well as bots customized for trading on 14 different crypto exchanges.

3Commas Review: Is it a Legit Trading Bot?

The Signal Bot is used for automating the execution of crypto trading analyses through Trading View. 3Commas has had two cases of data breaches where, through phishing, customers’ API information was exposed and customers claimed they lost funds.

These cases relate to mostly phishing incidences where third-party companies collected customer data through phishing. We will review each of these how they work, and how to employ them in automating your crypto trading journey.

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What is 3Commas

3Commas is a company offering crypto bot trading for traders on all trading levels, from beginner to advanced ones. Established in 2017, its users highly regarded and trusted this service. 3Commas has a 3.9/5 rating from 1,511 people on Trust Pilot and 68% of those reviewers gave it a 5-star.

Founded: 2017
Employees: 201-500
Headquarters and Locations: Tallinn, Harjuma
Revenue: $20 million

Range of Services and Products

• Cryptocurrency Trading Bots: Ready-to-use bots (user needs to customize them to their strategies). It also provides bot templates for building custom bots.
• Bot Cloning: Traders can copy a bot and receive the same signals to emulate successful strategies and traders (This bot is not yet launched).
• SmartTrade: This is a trading terminal for selling and buying crypto with manual to advanced (semi-auto) order types without necessarily using a crypto trading bot. It is based on an order book and there is charting and support for Trading View Crypto Screener signals that can also trade.
• Marketplace: Buy trading signals from Cartelsignals, Crypto Quality Signals Premium, and other providers and use them to trade with your bots.
• Portfolio management tools include managing all your portfolio from up to across 14 exchanges connected with API on a single platform at 3Commas, automated rebalances or auto reallocation, virtual portfolios for starters, portfolio performance analysis, and account histories. You can also view other people’s portfolio samples for some inspiration and skill.
• Purchase 6 (Bitcoin, Ethereum, USDT, USDC, BNB, and Binance USD cryptocurrencies using credit cards and bank methods from Binance and OKx right from 3Commas. Transactions are handled by Mercury.
• Referral program: Earn crypto referral payments and either spend on 3Commas or withdraw them.
• Crypto trading simulator or demo/paper trading.
• Trading community: Share not only trading ideas but also copy strategies and learn from each other.
• Subscribe to trading signals of other traders to opt for their strategies. Users can also provide crypto trading signals to be copied by other users.
• A crypto wallet that supports over 45 blockchains.
• Trading Academy: Learn all matters relating to crypto trading, including through handy guides.

3Commas Trading Bot

Users can use additional tools on 3Commas with their crypto trading bots, such as risk management strategies and orders. There are also pre-optimized templates, back-testing strategies using real historical trading data, and bot features optimization.

The platform also offers bot performance tracking on the 3Commas dashboard to show how your bots perform, all trades they have performed, their portfolio, and other things.

#1) Signal Bot: This bot is for automating the execution of trading analyses and trading signals/alerts, converting actionable alerts/signals into trade actions.

The bot can take multiple actionable alerts from different sources and act to trade on the user’s behalf by following strategies suggested in those expertise trading alerts, which themselves are based on technical or fundamental or other analyses, such as AI analyses.

The bot also features presets, with which the trader can do several things including custom exits and entries, percentage investment allocations, filters to automatically approve or reject signals, etc. 3Commas intends to attend more features to allow traders to add notes to bots, clone or copy bot strategies, see all notifications and logs from each bot on a centralized page, etc.

#2) Grid Bot: Traders use this type of bot all the time to take advantage (or try to make small profits multiple times) of small price movements on either side of the market (rising and falling prices). With this bot, you do not have to sit your crypto investment waiting for a big price swing to the moon!

It will trail the market and smartly notice those price changes, placing numerous trades for you within short times, with the view to generating profits.

Grid bots can be used in all exchanges but with 3Commas and using a right trading strategy, a trader can launch multiple pair bots that see trading opportunities in 100+ markets at the same time. It also features risk management capability using stop loss and takes profit types of orders, which is crucial during high volatility when this bot is ideal for trading.

Refer to this video:

#3) DCA (Dollar Cost Averaging): This is one of the easiest bots to employ. It automates investing in crypto trading by automatically buying preset small amounts of crypto at preset multiple intervals by reducing the (acquisition) entry price each time and the overall average acquisition price for all coins. It can repurchase multiple crypto types, let us say Bitcoin, Ethereum, and Litecoin.

Therefore, the bot would look for opportunities to reduce acquisition prices and do multiple purchases instead of the trader manually buying in a lump sum at a single or a lower price level than the bot.

#4) Futures Bots: These bots, usually of Grid and DCA types, are used to trade futures markets wherein you earn/lose money by predicting the upcoming prices of cryptos without necessarily buying the underlying crypto asset. Traders can choose to either go long or short, depending on their predictions for price movements.

#5) Exchange Bots: The Binance bot is customized to trade on the Binance cryptocurrency exchange. On 3Commas, you will encounter various types of exchange bots that are customized to work on specific crypto exchanges.

#6) Portfolio Rebalancing Bots: 3Commas allows to use of semi-automatic methods for rebalancing portfolios by simply setting reallocations, but this can also be done with a combination of a bot. It starts by creating a portfolio that can only be rebalanced to USDT and BTC. It favors those who want to keep multiple coins.

#7) Crypto Arbitrage Bots: It is possible to use 3Commas bots to trade arbitrage strategies, although the company does not provide a specific arbitrage bot.

Arbitrage strategies can, for instance, be found on the web or marketplace that uses Trading View indicators or strategies. These can then be applied to the bots on 3Commas through the webhooks, using trading signals sent to the bot to implement trading strategies. The company is actively working on this feature due to numerous user requests from the website.

3Commas API Review

3Commas APIs are used for connecting exchanges to the bot. It starts with creating API keys and Secret Keys on the crypto exchange with which you have a trading account and want to trade, then using the key at your 3Commas account. The Settings feature on the dashboard of your crypto exchange account should allow the creation of the API Key.

The My Exchanges tab on the 3Commas dashboard on your account will allow you to add those API keys created on an exchange. Simply select the exchange to connect, choose a name, add the API Key and Secret Key copied from the exchange, and click/tap Connect the exchange. This means you can launch a bot on 3Commas and it will trade on your connected exchange.

3Commas customers and developers can publish their apps on the marketplace to reach more audiences and gain exposure to 3Commas traders. These are featured on the platform for other customers to see.

How Does 3Commas Work

• A user begins by creating an account with a crypto exchange. Here the user will deposit funds with which to trade using the 3Commas bits. The list of supported exchanges is available on the website.
• The user creates API Keys and Secret Keys on the crypto exchange account. Each has its procedures for creating trading APIs.
• The user then configures the API Key and secret so created, at the 3Commas account. From the My Portfolio page, click or tap, Connect Account, select the exchange you want by clicking or tapping on the Exchange tab, and check which exchanges support spot and futures trading or other options. Choose a name for the API and add the API Key and Secret. Some exchanges support and provide passphrases and customer IDs for the APIs during the creation of the APIs and these can be added on the same form.
• The next step is to create a bot on 3Commas.

How to Use Crypto Trading Bots on 3Commas

Using a bot to trade Trading View signals, including algorithmic signals, involves sending bot signals in the form of messages/alerts via webhooks, which require at least the lowest subscription on Trading View.

The first thing is to create a DCA bot on 3Commas and the bot should have the Trading View custom Deal start and/or Deal close conditions.

The right conditions for starting a trade for the bot are in the 3Commas signal market. Login to the 3Commas and on the dashboard select DCA Bot.

In the DCA bot, navigate to the bot name and click on it. Scroll down on the information page to find the correct bot message for the required condition, then copy it by clicking the hyperlinked text. You will need to copy it as is for single-pair bots but change it to reflect the crypto pair for multi-pair bots.

On Trading View, choose an exchange, or trading pair, then open Alert settings to create Alerts and adjust their conditions, and enable webhooks from the Notifications tab. Then name the alert and paste your copied message (above) in the Message field and click Create.

If for instance, it has the ‘message for deal start signal’ copied into it then the bot will start a new deal when the signal is sent from Trading View.

Away from Trading View and signal trading bots, other bots should be easy to apply from the templates. You simply sign up and head to the default Dashboard page.

From here, select a bot template (e.g. DCA bot, Grid Bot, or Signal Bot) and customize the data based on your presets. From each bot’s settings, you can customize several things by clicking or tapping on the Edit button expanding the bot’s card, and clicking/tapping on the three dots.

The settings that can be changed include Trailing Up, Trailing Down, Stop Trailing Down, Profit currency, Upper stop bot, lower stop bot, active orders, and name of the bot. These can be changed when the bot is operational, without needing to cancel orders.

To edit investment, high price, low price, step and levels, and amount per level, you will need to cancel an order. You also cannot edit these settings: exchange, pair, geometric/arithmetic, and profit currency.

3Commas Exchanges

3Commas integrates 14 cryptocurrency exchanges, which include:

Binance, Binance TR, Binance US, Bitfinex, Bitstamp, ByBit, Coinbase Advanced, Gate.io, Gemini, HTX (Huobi), Kraken, KuCoin, and OKX. DCA and single and multi-pair grid bots can trade on each of these exchanges.

Futures bots are supported on those exchanges that offer futures trading, including Binance Futures, Bitget, ByBit, Gate.io, and OKX Futures.

3Commas Security Review

• 3Commas has been breached twice in 2022 and 2023, with a group of traders using the exchange claiming to have lost around $22 million from Binance, Coinbase Pro, FTX, and KuCoin exchanges.
• Several users claimed that the platform had traded away user funds without consent and the CEO had been ignoring warning signs and complaints. Later, A Twitter user claiming to have data relating to 100,000 APIs connected to the 3Commas exposed data of 1,000 of these APIs in 2022, to damage its reputation. FBI was said to be investigating the matter since 2022 but has released no report on the issue.
• The two exploits blamed phishing, with a company/company pretending to be 3Commas acquiring information from the users by tricking them into logging into their platforms.

3Commas relies on several security protocols or procedures that ensure security.

#1) Does not keep customer funds: The client’s trading funds are kept and reside on the crypto exchange’s account. That means there are even fewer motivations for hacking accounts or security breaches motivated by money on accounts. Funds never leave your account.

#2) API non-withdraw settings: Crypto exchanges to which 3Commas connect, encourage their users to deactivate withdrawal of funds on the APIs connecting to external accounts. It means funds cannot be withdrawn or transferred from the exchange account via API even if 3Commas was breached.

API does not also store or cache user information so these cannot be exploited during hacking.

#3) 3Commas IP white listing: You can, when creating API keys at your exchange, whitelist official 3Commas IPs such that only the official IPs and from 3Commas can use the API to trade with your funds.

#4) Sign Center: This is an API Key storage that is separate from the 3Commas servers on which bots software and platform reside, and adds an extra layer of security to customer funds. The servers send a transaction signing request to the storage when a trade action is due.

#5) Automatic authorization and connection to user crypto exchange accounts through Fast Connect. This technology automatically generates APIs and binds the accounts.

#6) User data protection through encryption, web application firewall, and prevention of DDOS.

It also provides 2FA and password authentication protocols. Customers can also set alerts at their crypto exchange account level to receive alerts in case of trade completion and funds transfer and withdrawals.

3Commas Promo Code

3Commas promo codes are available on several websites, including r/3commasCommunity on Reddit and Coingecko.com and users can get up to 50% off subscription fees. To use the 3Commas promo code found online, one must sign up for an account and fill in the code in the Enter promo code field under pricing plans during the sign-up process.

Pros & Cons

Pros:

• All subscription packages feature a free trial that allows you to test the bots.
• Bots are web-based and you do not need to download software to employ them save for 3Commas Android and iOS mobile app.
• Set and monitor bots on the go with the mobile app.
• Affordable, start not trading as low as $4 per month. This is so especially if you have access to free and affordable actionable signals. Also, save money when paying yearly for each subscription package.
• Get signals and trading strategies in the marketplace. Each can be back-tested to verify profitability before use. There are professional third-party signal providers
• Additional crypto trading apps on the marketplace to work with bots and platforms, e.g. bulk bot managers on multiple 3Commas accounts, and those that can automatically convert signals to the interface.
• Guides with step-by-step explanations, including articles and videos, on how to configure bots and strategies, and make them work for you.
• Safe APIs with encrypted storage space Signal Center that can sign transactions without exposing APIs similar to MetaMask. API whitelisting can lock down trading at the exchange level.
• Official API documentation on Telegram. There also is an API group on Telegram.
• Share bot settings with friends using a link.

Cons:

• Editing bot presets and strategies requires a learning curve for beginner traders especially for more advanced trading bots.
• Only 14 exchanges are supported and in some cases, some boys are useable on fewer exchanges.

3Commas Customer Support

3Commas provides support via email, live chat powered by a ChatGPT bot, a help center, and a request form on its website. Besides there is a Telegram group chat for 3Commas, not users and developers, as well as Discord and Twitter pages through which the team responds to issues from users.

The team also actively responds to issues posted on Trust Pilot by reviewers. They give a response in a few seconds.

Many reviewers on Trust Pilot rate the support as prompt-responding to issues.

Pricing

Pro: $37/month up to 50 Active SmartTrades, 10 Running Signal bots, 10 Running Grid bots, 50 Running DCA bots, and 500 Active DCA deals. Save $144 when paying annually.

Expert: $59/month for unlimited Active SmartTrades, 50 Running Signal bots, 50 Running Grid bots, 250 Running DCA bots, and 2500 Active DCA deals. Save $240 when paying annually.

Custom Plan: Contact them for a quote. By paying annually, you can enjoy some savings.

3Commas Alternatives

3Commas vs Cryptohopper

While Cryptohopper can connect to 20+ cryptocurrency exchanges for trading with bots, 3Commas works with 16 only. It also offers more pre-built bot templates and bot customization options. Cryptohopper allows you to manage up to 80 trading positions even on the basic plan.

However, 3Commas comes out as a more affordable option for just $4/month compared to Cryptohopper’s $19 per month on the basic subscription package. Even the most advanced packages are cheaper on 3Commas than on Cryptohopper. Both platforms offer social trading and strategies or bot marketplaces.

Pionex

Pionex is easier to use and excellent for newbies looking to trade crypto using crypto bots. With it, you can trade 120 cryptocurrencies using 16+ free-to-use crypto trading robots, which makes it superior compared to 3Commas. There also is deep liquidity at Pionex, as well as margin and leverage trading. Besides, the trading fee is just 0.05%.

In comparison, 3Commas offers demo trading, and it has better offers for clients looking for advanced crypto trading bots with more customization functionality.

Coinrule

Feature-wise, 3Commas is much better. It also offers market-making bots that are not available on Coinrule and are more affordable than Coinrule.

3Commas also provides more advanced risk management tools including stop loss and take-profit orders, integrates additional crypto exchanges, and has a higher performance rate based on reviews. However, Coinrule offers more types of bots.

HaasOnline

The HaasBot users can take advantage of the HaasScript to craft advanced trading strategies with exact specifications to their needs. It is preferable for traders looking for advanced customization functionalities on trading bots.

Notably, 3Commas has a copy trading feature, which makes it easier for beginner to intermediate traders aspiring to trade with expert trading strategies. Compared to HaasOnline, 3Commas is easier to use with templates that do not require the trader to use programming.

3Commas FAQs

Conclusion

3Commas offers a platform on which beginner to advanced-level traders can use bots to trade different cryptocurrencies (including multiple cryptos at a go) using different trading strategies. It offers the ability to connect bots to Trading View signals and signals from other marketplaces.

It also offers a bot marketplace from where traders can purchase strategies and trading bots. The trading platform is affordable for bot trading compared to most crypto trading platforms.