3Commas trading robots work in bull, bear, and ranging markets and are available via multiple subscription plans. Traders have the option to connect with numerous exchanges and track them from a single intuitive dashboard. Beginner traders can take benefit from the copy trading services available online. Let us go through the vital features of the services and see if 3Commas can be a good choice for investment.
What is 3Commas?
3Commas features smart tools for traders to generate a decent side income from the crypto market. Multiple algorithms are available, each following a uniques strategy that is coded into the infrastructure. Traders have access to the trading academy and social media channels to educate themselves.
Features of the 3Commas platform
The key characteristics of 3Commas include:
- Portfolio balancing by maintaining coin ratios
- Manual and automated trading are supported on the platform
- Marketplace offering quality signals for purchase
- Ambassador program that allows you to earn money by inviting your friends
How does the 3Commas bot operate?
3Commas trading robots scan the markets based on the coded information and connect to your exchange via API keys. After a suitable position comes, it will open up a trade and manage it accordingly.
Traders can start trading with 3Commas using the following steps:
Step 1: Sign up
Register on the website by using Facebook or Apple ids. You can also use your email address for this purpose.
Step 2: Plans
Choose from one of the three plans available on the website. Select one that matches your needs.
Step 3: Link exchange
Connect with your exchange using the API keys to start trading.
Is it easy to use 3Commas?
The crypto signals available on the website do not require any trading knowledge beforehand. Trading terminal and charting features are public, along with multiple bots to meet the needs of all traders.
3Commas fees, commissions, limits, and payment options
Traders can test out the platform for free that offers one grid, DCA, and options bot. Other than this start, advanced and pro plans are available for $14.5, $24.5, and $49.5. All the packages support 18 exchanges, a multi-level referral program, TradingView integration, and a free mobile app.
3Commas can not withdraw the funds from your exchange.
How much should you deposit to start trading with 3Commas?
The developers are unclear on the minimum deposit required to start using their robots. This is not a good approach to maintain in the financial industry.
Partnered exchanges and brokers
Traders have access to the following exchanges:
- Coinbase Pro
- Binance US
- FTX US
Is it beginner-friendly?
As mentioned before, crypto signals are available for traders with no market experience. DCA bots can also meet the needs of beginners.
Is it a profitable system?
The trading performance of 3Commas is not made public on the website nor tracked by verified third-party systems. This keeps us devoid of determining the true performance of the algorithms and the signal services.
Security & regulation
3Commas does not have any access to your funds. The API keys are only used to gain trading rights. The user data is stored via the following security service providers:
- Web Application Firewall
- DDOS attack protection
- SSL/TLS encryption between visitors and origin servers
3Commas has its head office situated in Laeva 2, Tallinn, Estonia, 10111. It includes more than 220000 users as of now and is covered worldwide. There is no information on the developers of the platform.
Should you trade with 3Commas?
The absence of proper live and backtesting records of the platform and zero vendor transparency raise some concerns on 3Commas. While the API keys do not access your funds, traders should trade with caution as cryptocurrencies can be volatile.