3Commas vs Coinrule | Trading Bot for Beginners

In recent times trading has evolved to become a field that is dominated by Automated trading bots. Currently, over 90% of trades on the stock market are executed by these trading bots. In the tech-savvy world of crypto, this trend has been adopted as well. For this purpose, we are going to review two of the most popular trading bots, Coinrule and 3Commas

We will be comparing the two tradings bots, across different criteria to determine which is the best trading bot for beginners.

The criteria that we will compare are

  • Pricing
  • Ease of use 
  • Availability of Exchanges
  • Trading Strategies
  • Operating Systems 
  • Customer Support

The ultimate goal is to identify which platform is best for beginners, different levels of traders will always have different needs and requirements. Each category will be judged from the perspective of a novice user that is entering the crypto space as a beginner.

Coinrule and 3Commas Overall Review

3Commas

3Commas was founded in 2017 and is a Canadian-based company with a representative office also in Europe. 3Commas is a well-known trading bot platform, which offers third-party API integration with most of the top exchanges.  It allows you to automate your trading, using pre-designed bots that have been created, or using bots that you design according to your specifications.

Coinrule

Coinrule introduced an innovative approach to automated trading and has grown to become an outstanding option for crypto traders. The UK-based company is currently expanding its offer of services, launching a crowdfunding campaign that will further boost features. 

Coinrule developed a trading strategy editor specifically for non-professional traders. Users can pick ‘building blocks’ via a simple interface to create trading strategies. These rules are then executed automatically via crypto exchanges such as Binance whenever a certain condition as per the rule is triggered. It is safe, easy, and makes a trader’s life ten times easier – no coding skills are required!

Pricing Comparison

3Commas offers three different tiers of subscription. All plans allow the trader to use the smart terminal, with no cap on the amount that can be traded. The three plans differ in the tools that are available to use. 

3Commas Pricing

Free trial

In this package, you are able to try out an account with all the features available for a limited time.  

Start Plan From $22/month

This feature is designed to not include any custom Bots, you have access to the basic features such as take profit and stop loss, in addition, you get access to error and cancelation notifications.

Advanced Plan From $37/month

Traders have access to the features in previous tiers along with access to simple bots, personalized signals from TradingView, and an interface that allows you to manage your portfolio. 

Professional Plan From $75/month

This plan combines the features of the plans before, also adding access to composite and BitMEX bots along with a full portfolio management software. 

3Commas Pricing
3Commas Pricing

Coinrule Pricing

Free plan

This plan is great for someone looking to get to know the platform. You can add up to one exchange with 2 live rules and 2 demo rules. There is no expiry on the account and you can keep using it forever, but there is a monthly trading volume limit of $3,000. All the basic features are available, except for technical indicators and Leverage Trading. 

Hobbyist Plan From $29.99/month 

With the Hobbyist plan, you can truly experience all that Coinrule has to offer. With access to up to 2 exchanges, the capability to run 7 live and 7 demo rules, as well as technical indicators make it a perfect package for someone looking to start trading algorithmically as a beginner. The package also grants access to 30 template strategies that have been designed by expert traders. The Hobbyist plan grants you a large trading volume of up to $50K, which should be more than enough for a beginner. 

Trader Plan From $59.99/month

Tailor-made for novice traders that are looking to get serious, the Trader’s package comes with all the benefits of the Hobbyist plan, but adds perks on top. The number of active live rules increases to 15, with 15 Demo rules to test and unlimited access to Template strategies. For an extra push, one-to-one training sessions are available to familiarize the user with the platform. The monthly trading limit is $300K and you can connect up to 3 Exchanges. All Trader Plan users are on a separate server which allows for faster execution times compared to the Free and Hobbyist plans.

Pro Plan From 449.99/month

To meet all your expert trading needs, the Pro Plan comes equipped with 50 live rules and 50 demo rules. With unlimited template strategies, unlimited exchanges, and a vast trading volume of $3m as well as training sessions, the Pro Plan gives you access to all the tools needed to beat the market. In terms of execution speed, as part of the plan, you receive a dedicated server that ensures Ultra-fast execution and adds privacy protection for your data.

Coinrule Pricing
Coinrule Pricing

Result

The plans at 3Commas appear to be cheaper, the trials allow you to test which subscription is good for you but it expires after 14 days. That means that you will need to pay while you are still getting used to the platform. On the other hand, Coinrule has slightly higher prices, but this is compensated by a life long free plan that allows the user to get familiar with the platform at their own pace. This is especially beneficial for beginner users that are taking crypto as a hobby and are looking to trade in their downtime or during the weekend.

Winner: Coinrule

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Ease of Use

3Commas interface – Intermediate/Advanced Trader

3Commas trading strategy builder
3Commas trading strategy builder

3Commas’ layout is efficient and from the dashboard, you can access several features including placing smart trades.  The layout is done in such a way that it is easy to visualize all aspects of the trade, with all features displayed clearly. However, loads of features make the system over-complex and tricky to use for a novice since it requires a basic understanding of the markets and process. 

Coinrule interface – Ease of Use –  Beginner Trader

Coinrule trading strategy builder
Coinrule trading strategy builder

Coinrule has created a unique value proposition by creating a platform that has been made for beginners. The IFTTT methodology is easily understandable by anyone, especially a novice trader. The Coinrule bot does not require any trading experience, and in the event that someone would like to learn more, there is a knowledge base that is packed with educational material regarding trading and the platform. 

Coinrule trading strategy
Coinrule trading strategy

Result

Both systems have created dashboards that are easy to use, however, Coinrule’s IFTTT logic makes it very easy for a beginner to get started with the interface without any trading experience. The use of a logic that is easy to understand breaks down the barriers to entry and allows new users to dive right in. 

Winner: Coinrule

Exchanges supported

3Commas Exchanges

3Commas offers 23 exchanges, including Binance, Coinbase Pro, Bitmex, Kucoin, and others. Exchanges can be connected through the dashboard and linked using API keys.

Coinrule Exchanges

Coinrule offers 11 of the top tier exchanges, including Binance, Coinbase Pro, Kraken, Binance US, and many more. Coinrule continuously adds new exchanges depending on user requests. The ease of connecting exchanges with Coinrule is what makes the platform very beginner-friendly. The exchanges provided are sufficient for novices getting started with crypto trading

Result

Both platforms offer the common top tier exchanges, however, 3Commas offers a range of additional exchanges on top, making it more suitable for those looking to trade on less popular exchanges. More exchanges mean more users from different parts of the world can trade with the platform.

Winner: 3Commas

Trading Strategies

3Commas Trading Strategies

3Commas traders can fully customize their trading bots using short or composite bots. Simple 3Commas trading bots can be simple to set up, but only allow trading of one currency pair at a time. The composite bots support several currency pairs, however, they do not use technical indicators and their actions are based on Trading Views analysis. 

Coinrule Trading Strategies

Coinrule’s interface allows anyone to build a trading system. There is no need to understand technical trading terms, as everything is explained in plain English. The trading systems are based on an intuitive and user-friendly If-This-Then-That logic. On top of that, Coinrule offers its Hobbyist plan with 30 template strategies that are selected based on a user’s level of experience. The trader & pro plan offer over 150 templates that are suitable to be run in several market conditions, with little to no changes that are needed to be made in the structure of the rule. 

Result

3Commas trading bots are easy to use but there is a learning curve that is needed before the user can fully understand how to set up the bot. On the other hand, Coinrule’s template strategies are very simple to use and the only inputs that are needed are the dollar value that the bot would trade. This makes it easier for beginners to use Coinrule’s template strategies instead of 3Commas.

Winner: Coinrule

Mobile Features

3Commas Mobile Features

3Commas does not require you to download the interface, you can access it via the website and connect exchanges using API keys. The 3Commas app can be of assistance to track transactions, however you cannot execute trades using it.

Coinrule Mobile Features

Coinrule is a web app, meaning that you do not need to download it on your device. You can access the app through any web browser. The website can be accessed on the go from any smartphone for traders that always want to keep an eye on their portfolio. 

Result

Both websites have similar operating systems that are easily accessible, the 3Commas app would prove as an edge if the users could use it to trade and not just monitor. Coinrule’s web app is compatible with IOS and Android devices and can be used easily from a smartphone.

Winner: Coinrule

Notifications

3Commas Notifications

3Commas offers notifications through various methods: browser, mobile device, or email. Telegram notifications are also available and allow you to track orders and adjust them when necessary. 

Coinrule Notifications

Using the Coinrule interface you can enable telegram notifications that will notify you once a trade has been executed and at what price it has been executed. This is a very helpful feature as it allows the trader to seamlessly keep an eye on the market.

Result

Both platforms have various ways of notifying the user about changes and actions that the trading bot has taken. However, 3Commas does have more available notification channels that it offers to users which makes it more convenient 

Winner: 3Commas

Customer Support

3Commas Support 

3Commas provides tech support through their portal after a user submits a request in the Help Center in either English or Russian. In addition, they have an FAQ page to address commonly asked questions. 

Coinrule Support

Coinrule has 24/7 support through the chat interface, this is not limited to technical issues but includes assistance to traders that need help using the interface. The team is diverse and can accommodate several languages including English, German, Russian, Spanish, Italian, and Arabic. In addition, you can submit a request on the website using a form or email the team. Coinrule allows users to arrange periodic calls to help them improve their understanding of the platform and optimize their strategies. That’s a useful option, especially for beginner traders.

Result

Both platforms have been created in a way that customers are able to find solutions to their problems directly on the website through the Help Center and articles. However, the presence of a 24/7 chat makes Coinrule easier to use.

Winner: Coinrule

Score Card3CommasCoinrule
PricingX
Ease Of Use
X
Availability of ExchangesX
Trading StrategiesX
Operating SystemX
NotificationsX
Customer SupportX
3Commas vs Coinrule

Conclusion

To conclude, based on our metrics of scoring the platforms based on their convenience of use for beginners, Coinrule ranks higher than 3Commas in 5 of the 7 categories. While 3Commas offers a powerful platform, based on the needs and level of understanding of a Beginner trader, Coinrule performed better and was easier to use.

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