3Commas was launched in 2017 as a platform that helps individuals conduct trades on crypto exchanges. It carries out the deals according to the parameters set by the user and it is connected to financial protection algorithms and investment tools. According to the vendor, this helps traders hedge their positions to earn more daily profits. In this 3Commas review, we shall try and find out whether the claims are true.
The head office of this company is located in Estonia while the representative office is based in Canada. It has partnerships with many other companies. The vendor has provided the physical addresses for the office as well as an email address.
On the official webpage of 3Commas, the vendor explains the working of the platform in detail. We also have a list of all the main features and the pricing details. There is a blog section on the website containing articles about the crypto market. Here, you can also follow the crypto price charts. The principal focus seems to be on the functionalities offered by the system.
3Commas allows traders to place deals on 23 different exchanges. It has a SmartTrade feature that lets you modify your positions and create entry and exit points at the same time. Here you can find trading robots for beginners as well as experienced dealers. These robots and strategies have been built by other members of the crypto community.
With 3Commas, you can rebalance your account and create portfolios with different cryptocurrencies. The portfolio can be tracked from multiple accounts using the dashboard and the trading schemes can be tested without using real money. As per vendor claims, you can earn extra profits from drastic price shifts, thanks to the smart cover feature. You can also subscribe to the trading signals generated by other traders.
3Commas lets you execute conditional market orders and conditional limit orders. You can also create order groups and execute them separately. The vendor does not provide any information related to the deposit and withdrawal methods, which is a bit disappointing. We don’t know how much money is required to start trading with this platform.
The Idea Behind 3Commas
3Commas wishes to provide an easy-to-use and responsive platform for crypto merchants. This company aims to create advanced tools that make the trading process easier. According to the seller, each team member is focused on customer experience and the overall improvement of the interface.
The Core Team
The company is headed by CEO Yuriy Sorokin, CMO Mike Goryunov, CTO Egor Razumovsky, and CPO Ivan Sokolov. The identity of each team member has been revealed by the vendor, but what we find odd is that no other information is provided on them. At the very least, we would have liked to know about the credentials and backgrounds of the developers and traders.
Safety of 3Commas and the Network
We have no data on the official webpage regarding the security features of this platform. Security is a big issue with crypto traders, which is why they want to make sure a trading platform has adequate safety measures before they invest in it. The lack of information in this department might deter many individuals from investing in 3Commas.
For 3Commas, there is one free plan and 3 distinct paid plans, namely Starter, Advanced, and Pro. The monthly charges for these three plans are $14.50, $24.50, and $49.50, respectively. With the more expensive plans, you can use more accounts per exchange and get access to more trading bots. The vendor offers only partial refunds for these plans.
On the Trustpilot website, there are some customer reviews on 3Commas. One user has mentioned that the support provided by the company is not up to the mark. They have complained that the response time is too long and the answers provided are not helpful. It seems that 3Commas does not have a stellar reputation after all.
Is 3Commas a Legit Investment Service?
Our VerdictOur Verdict
- Support 23 exchanges
- Affordable plans
- Lack of security features
- Inadequate information on the team members
- Only a partial refund provided