Is 3Commas a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether 3Commas is a good crypto exchange to start trading with. In this article you will learn whether 3Commas is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker 3Commas
Headquartered in Tallinn, Estonia is 3Commas, a cryptocurrency exchange. It also has a representative office in Canada. The platform was created in 2017 for simple and convenient trading at different exchanges through a single interface. Today, 3Commas has more than 220,000 registered users. They have access to 18 exchanges, including Binance, Kraken, Bybit, Coinbase, and Bitfinex. Clients can trade both on their own with the best liquidity and using various types of bots to automate trading. The 3Commas trading platforms are based on TradingView and allow you to make trades with 45 major blockchains such as BTC (₿), LTC (Ł), ETH (Ξ), XRP, and others), several thousand tokens, and stablecoins.
| 💰 Account currency: | USD, cryptocurrencies |
| 🚀 Minimum deposit: | From USD 1 |
| ⚖️ Leverage: | 1:1 up to 1:100 (depends on the chosen exchange) |
| 💱 Spread: | Market; also depends on the chosen exchange |
| 🔧 Instruments: | Cryptocurrencies, futures |
| 💹 Margin Call / Stop Out: | No |
3Commas Pros and Cons
👍 Advantages of trading with 3Commas:
•access to trading at major international exchanges through a single interface;
•plenitude of crypto assets available for trading;
•availability of a free tariff package and the ability to test the best plan without paying a subscription fee;
•ubiquitous exchange employs various strategies and styles of trading, including the use of bots;
•no restrictions on scalping, setting take profit, stop loss, and trailing;
•the ability to use bots with ready-made settings, as well as create personal robots;
•the availability of a multi-level referral program with high rewards.
👎 Disadvantages of 3Commas:
•discounts on the tariff plan are not permanent, so the client does not always have the opportunity to pay a fee on preferential terms;
•the trader must pay for the subscription even if he does not plan to trade during the next month;
•chat operators do not always respond promptly to requests.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for 3Commas Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. 3Commas offers traders the following conditions.
| 💻 Trading platform: | Trading Terminal and SmartTrade are based on TradingView. There are mobile applications for Android and iOS. |
| 📊 Accounts: | Paper Trading (demo simulating trading at the Binance Spot exchange), Free, Starter, and PRO |
| 💰 Account currency: | USD, cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Paypal, credit/debit cards, BTC, ETH, DASH, DOGE, and other cryptocurrencies |
| 🚀 Minimum deposit: | From USD 1 |
| ⚖️ Leverage: | 1:1 up to 1:100 (depends on the chosen exchange) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market; also depends on the chosen exchange |
| 🔧 Instruments: | Cryptocurrencies, futures |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Conditional market order, conditional limit order, OCO order, Good-Till-Cancelled, Fill or Kill, Immediate or Cancel, Post-Only |
| ⭐ Trading features: | Manual trading, trading using bots, DCA, Gordon, Grid, option |
| 🎁 Contests and bonuses: | Promo codes, promotions from affiliate exchanges, free subscription for a limited time |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of 3Commas commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The 3Commas exchange does not charge a commission for trading. The fees are charged by the affiliate exchanges to which a trader connects, so trading fees vary. The client pays 3Commas only the cost of the tariff plan. The monthly fee for the Starter plan is $22; and for the Pro plan, it is $74. You can save by opting for an annual subscription. In this case, the Starter plan will cost $14.5 ($174 per year), while the Pro plan will be $49.50 ($594 per year). Only the minimum features are available on the free tariff plan. The 3Commas service does not accept deposits or withdraw funds from trading accounts. These operations are performed by the exchanges, so the existence or nonexistence of commissions for deposit and withdrawal depends on their respective policies.
| Account type | Spread (minimum value) | Withdrawal commission |
| Free | $0 per month (average subscription fee) + trading commission of the exchange selected | Depends on the specific exchange |
| Starter | $22 per month (average subscription fee) + trading commission of the exchange selected | Depends on the specific exchange |
| Pro | $74 per month (average subscription fee) + trading commission of the exchange selected | Depends on the specific exchange |
Investment programs of 3Commas
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. 3Commas offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The 3Commas exchange specializes in investing in cryptocurrencies using robots. Platform developers and analysts offer a huge selection of bots for traders with any level of experience. Also at the exchange, you can trade on the signals of professionals and create personalized systems for algorithmic trading. Another option for passive income at 3Commas is earning through the referral program.
Bots and trading signals are available tools for passive income
Novice traders have access to ready-made bots with basic settings that may be modified to fit their trading strategy. Experienced users can create their own bots that trade on the signals and indicators of the TradingView platform.
Available bots:
Gordon bot. Suitable for novice investors and users who have not previously dealt with bots. It belongs to the DCA class and is partially configured for the QFL strategy for long positions. The main function of the Gordon Bot is to buy low and sell high. Only available in the Pro subscription.
DCA bot. Designed for investing at the average dollar cost (Dollar Cost Averaging). The trader sets the investment amount, and the bot buys assets at regular intervals. The DCA strategy helps to reduce risks because the investor does not use the entire deposit at once. He invests in parts, thus insuring his investments against adverse price movements.
Grid bot. The trader selects the exchange, cryptocurrency, and bot mode, and also indicates the investment amount. Based on the analysis of the volatility of the selected coin over the past seven days, the bot creates a grid of limit orders for buying and selling and determines price extremes. After the launch, the bot starts buying the currency (if the price falls) or selling (if the price rises).
Option bot. This bot is designed for professional traders who trade options contracts. The bot is configured depending on the trading strategy. The investor can track income and losses in real-time and, if necessary, close the position ahead of schedule.
The 3Commas platform also displays crypto trading signals. The investor selects a signal, pays for the subscription (if it is not free), and then launches the bot according to the proposed signals. Trading signals can be selected by exchanges, cost, popularity, recency, and other criteria. The price of paid signals ranges from $10 to $150 per month, but free options are also available.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
3Commas’ affiliate program:
This program comprises a three-level referral system. The affiliate receives a reward in the form of a cost percentage of the tariff plan paid by the referral. For referrals of the 1st level, he is paid 25% of the subscription amount; for the 2nd level, he gets 15%; and for the 3rd level, he is rewarded 10%.
Referral bonuses are accrued proportionally every day. The amount available for withdrawal is displayed in the user’s account on the first day of each month.
Conclusion. Is 3Commas good for beginners?
The 3Commas cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, 3Commas could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.