3commas Review 2020: A detailed look at the control platform

In case you’re wishing to dive into the multi-billion dollar, cryptographic money-exchange field, but have little understanding about it, then you must think about the benefits of mechanized exchanging. 

Even if you characterize yourself as a prepared broker, the capabilities of an automated exchanging bot is fundamentally more developed than what the human cerebrum can offer. At any rate, the robot has the capacity to exchange nonstop for a 24-hour premise. 

One of the globally respected digital money exchanging bots in the market is that of 3Commas. The platform offers various creative exchanging highlights that can be personalized with your custom bot, which can be tested and utilized at various driving cryptographic money trades. 

On the off chance that you are contemplating utilizing 3Commas for your computerized exchanging tries, we would like to propose perusing our review first. We’ve secured everything from how the bot functions, what it permits you to do, and estimating. And that is only the tip of the iceberg. 

How about we start with an outline of what 3Commas really is.

What is 3commas?

3commas review

The 3Commas cryptocurrency control platform that offers admission to some gear designed to improve ordinary buying and selling performance and effectiveness. The team behind the undertaking aims to help decrease the investors’ risks and restrict their exposure to losses, additionally maximizing their profits.

Central to the provider is the 3Commas buying and selling bot that operates as a web-based carrier and works in conjunction with some gadgets and exchanges. The buying and selling bots are portions of computer software programs that continuously execute trades primarily based on input parameters.

Presently over 33,000 buyers use the carrier, and the platform handles over $10m trading volume each day, and the buying and selling bot presently works with about 12 exchanges together with Coinbase, GDAX, Binance, Bitfinex, and Huobi.

As a result, using 3Commas, investors can keep up with the diverse orders on unique exchanges, expand more informed trading behavior, and employ effective prevent losses or take income buying and selling strategies.


Features of 3commas

  • Functionality –  3Commas utilizes a web-based platform, and features a clean to use and intuitive user interface that includes a wide variety of capabilities and specific analytics. Users could make use of quick, simple, and composite quick bots and set prevent loss and take income targets, in addition to personalizing their own trading strategies.
  • Technology – Automated trading works on regional API integration in addition to cryptocurrency exchanges, and therefore, the bot works 24×7 in any device without any monitoring required. Customers get access to their trading dashboard on the computer and mobile devices. The team have additionally developed cell apps for both Android and iOS.
  • Range of Tools – The platform gives a tremendous range of trading gear, and with overall performance analytics, users are capable of creating, examining, and back-checking crypto portfolios. Moreover, customers can interact in social trading and follow and copy the movements of other successful traders.
  • Exchange API Integration – The 3Commmas group provides automatic buy and sell bots with support for the 12 major cryptocurrency exchanges, including Bittrex, Binance, KuCoin, HitBTC, GDAX (Coinbase Pro), Huobi, and Yobit.
  • Customer Support – The platform provides care in both English and Russian, available 24/7 to solve your worries. Users can also get in touch with the team by filing a request in the Help Centre. Along with this, there is Twitter, Telegram and Facebook support available. You can also reach out to their Help Centre, you might find your doubt already asked before or even better, resolved by the 3Commas team.

Getting Started on 3Commas

Creating an account is a simple technique, and the home page has a green, “Create an Account” link at the of the page.

1) Create an Account

Visit the 3Commas site and enter an email address and password that you want to register. After verifying your account through the link in the email, you will get admission to the dashboard.

2) Choose the bot type

There are four types of buying and selling bots, quick, simple, composite, and composite quick bots, and a simple trading bot most effective involves one buying and selling pair and is the maximum straightforward to set up.

3) Connect a trade

The simple buying and selling bot feature handiest works with Binance change whilst you start out, and you may connect a Binance account here. Make sure your account is connected through API and holds BNB and has BNB charge payment function turned on. After this, you may pass on to naming your bot.

4) Choose buying and selling pair and set the base trade size

You can select the buying and selling pair you want your bot to exchange from the drop-down menu, and you may then tell your bot simply how a great deal of your selected foreign money you may be using at some stage in your initial change.

5) Set target profit

Before doing this, it’s advisable to set an alternate protection size to avoid making purchases after any further dips. Even if you make purchase decisions, make sure to manage them. Let suppose you choose a trading pair of ETH/BTC, and right next, the rate drops below the original purchase rates, then for safe trade, you should be buying more ETH with the quantity of BTC that is set within the safe alternate size.

Afterward, you may set that focus on profit, which informs the buying and selling bot while promoting consistency with percentages. If a target earnings are about 3%, then the trading bot will robotically execute a sell order as soon as these earnings have been realized.

6) Choose to take profit type

There are take earnings options, which are a percentage from base alternate or a percent from the entire volume.

7) Set max protection trades

This informs the trading bot how many protection trades it may make before stopping, and the maximum active safety trades count number tells the buying and selling bot the number of active protection trades it may conduct at any given time.

8) Set fee deviation to open safety trades

This tells the trading bot whilst it can start executing safety trades and is set as a percent. If set to 3, when the charge of the selected foreign money drops 3% lower than the initial exchange price, then the trading bot will start to execute protection trades.

9) Change start conditions

Changing the start conditions informs the bot of when to initiate the trade, and make a choice in between TradingView Signal Strong Buy, Manually, or Open New Trade ASAP.

By following those steps, a buying and selling bot may be configured in just a few minutes, and the entire process is easily sufficient for more beginner investors to comply with successfully. The platform remains detailed sufficient to attract greater experienced traders additionally.

3Commas Review: Advantages and Disadvantages

Low average riskLimited functionality in the starter plan
Many reported success storiesRisks from trial and error
No registration feesOccasional losses
A simple interface and quick setup
Wide range of exchanges
A wide array of strategies with multiple tools to boost pre-made strategies
Full functionality on mobile and desktop
2FA, IP detection and other security available
Private updates through Telegram

How 3Commas Smart Trading Works

3Commas carries a Smart Trading characteristic that uses TakeProfit and StopLoss instructions to help users maximize their trading profits. Traders can customize their portfolios with instructions to buy or promote at a given rate point. Some of the smart trading functions are:

Trailing Take Profit – This function helps traders to make maximum gains. Say if a consumer makes purchases in multiples of ETH at $1000 and sets a standard take income order at $1100, then they could make a profit of $100 by keeping with ETH.

However, if the rate of ETH continues to upward thrust above $1100 then the Trailing Take Profit lets you promote at the highest part of a trend via promoting at the best percent value. So, if you set a TTP order of 10% and ETH hits $ 1100 just before falling, then the sell order is activated.

Trailing Stop Loss – This works within the same way as a widespread Stop Loss order as they both permit you to minimize your publicity to losses when costs decline. A Trailing Stop Loss order differs as it is percent-based, and mechanically adjusts to charge fluctuations, whereas a Stop Loss order is ready manually at a fixed rate. 

If the price of ETH falls under $900, and promote your ETH at that rate. If the charge of ETH increases over the day, a Trailing Stop Loss order robotically adjusts to the rate change, and if ETH increases in fee by way of 15%, the Trailing Stop Loss order triggers whilst the adjusted price drops with the aid of 10%, ensuing in a 5% gain. This differs from a fashionable Stop Loss order which will handiest execute whilst the price falls underneath 10% of the authentic buy-in charge.

Can we really make money with 3commas?

Think 3commas, and the question arises: Can we actually make money if we entrust all of our trades to the buying and selling bot? The platform is replete with a few very tremendous buying and selling functions. Nevertheless, they will even cause you to drop your cash.

The market is hyper-volatile, permitting the bot to make decisions based totally on the most effective strategy for an extended period of time may yield some enormous results, in fact, may additionally even lead to you dropping your cash. The actualization of functions like “Stop Loss, Take Profit and Trailing income/loss might also boost the frequency of transactions, but adjusting to the market volatility will become tough if the trader doesn’t constantly revise his goals.

Consider eventualities where features like taking income and trailing take earnings honestly put a cap on your income potential. This simply doesn’t translate into the form of profit one expects from buying and selling inside the cryptocurrency domain. Despite those shortcomings, higher quantity trades can nonetheless get your voluptuous amount of profits.

The 3commas have used lengthy and quick algorithms that allow the contrarian techniques of selling better and buying lower for you to generate more earnings.

3Commas Pricing

3Commas.io gives three well known and pricing plan tiers. They also have a custom, enterprise plan that requires direct contact with the crew to set it up.

The three popular plans are:

1. Starter Plan – $29/month *

  • Trading terminal
  • Concurrent Take Profit and Stop Loss

2. Advanced Plan – $49/month*

  • Trading terminal
  • Concurrent Take Profit and Stop Loss
  • TradingView Custom Signals
  • Simple bots
  • Short and Long algorithms
  • View and duplicate bots

3. Pro Plan – $99/month*

  • Trading terminal
  • Concurrent Take Profit and Stop Loss
  • TradingView Custom Signals
  • Simple bots
  • Short and Long algorithms
  • View and replica bots
  • Composite bots
  • Bitmex, Binance Futures, and ByBit bot
  • GRID bot
  • Futures Trading

*3Commas also offers a humongous reduction for every year purchase with 50% at the pricing in case you cross for a straight one year package. You can also try #commas for free for 3 days before actually selecting a plan!

3commas Review – Summing up

The majority of buying and selling bots are either tough to use, specifically for brand new traders or don’t perform in the way expected. 3Commas has solved these troubles to a greater extent with its developed buy and sell bot that is way more reliable when compared to many of its competitors.

The device is nicely included and works on several main exchangers, including Binance, Coinbase, and Huobi. The 3Commas buying and selling bot lets in both amateur and extra skilled traders to maximize their trading ability by taking elements in a twenty-4 hour marketplace without the worry of any potential areas of inefficiency.

Furthermore, the incorporation of features consisting of portfolio creation and tracking, and social trading make 3Commas a solid alternative for everybody interested in including automated buying and selling to their cryptocurrency buying and selling protocols.

Leave a Comment

Your email address will not be published. Required fields are marked *