3Commas, Signal, ExchangeValet, and TrailingCrypto Review

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copied from medium

I’ve been comparing different tools for a few months now and came across this article just now, I thought you guys might like it if you’re into using trading terminals like me!


I contemplated just doing a deep dive on each of these products, but then I realized that people don’t really want that.

What they want to know is — which trading terminal is the best?

And so today I’m going to be comparing 3Commas, Signal, ExchangeValet, and TrailingCrypto. Some of the best options on the market today. I’ve spent 30+ hours researching and benchmarking so you can trade more effectively.

This article is part of a larger series I’m doing digging into the tools, people, and advice behind trading cryptocurrencies. Our goal here at Coin and Crypto is to help people make smarter investing decisions and become better traders .

Features

All four platforms share common functionality such as configuring a trade with buy and sell orders, using trailing or laddering to help with getting a better price , a dashboard for monitoring trades and profitability , and notifications when your orders are filled.

There are some key differences between each tool.

TrailingCrypto has a different approach than the other three :

  • 3Commas, Signal, and ExchangeValet all combine orders into a single trade . This means that it is easier to keep track of what positions you are in, what the status is, and what your returns are.
  • TrailingCrypto instead chooses to keep things as individual orders . You can set up one relationship between them, such as when this order is filled, place this other one. Or when this order is filled, cancel this other one.

They have different strategies for getting a better buy price:

  • 3Commas and TrailingCrypto have trailing buy orders .
  • Signal allows laddering into a position with multiple buys .

3Commas has browser notifications and Signal has SMS notifications.

Signal only integrates with Binance, ExchangeValet integrates with both Binance and Bittrex, TrailingCrypto has most major exchanges, and 3Commas has all major exchanges integrated.

Which has more features?

:trophy: 3Commas

The ability to integrate with multiple different exchanges and specify things like your bid/ask/last price for your order puts 3Commas in the lead for the total number of features.

Speed

In crypto, time is money. Failing to buy before a rally or sell before a drop can really add up over multiple trades. Given that these tools are designed to automate trading so you can rest easy, I thought it was important to find out how fast they are at placing and canceling orders on the exchange.

To test this, I ran through common trading scenarios and benchmarked them. Here’s what I found.

I was surprised to see 3Commas lagging behind by so much. Over 1 second on average!

The question is, why?

After spending longer than I care to admit, I figured it out. It turns out that the difference is caused by the way each tool handles placing an order. Signal and TrailingCrypto place the orders on the exchange immediately and then the exchange looks after executing the order at the specified price. 3Commas and ExchangeValet instead have their software monitor the price using price updates and then places the order after it meets the specified criteria.

Which tool is faster?

:trophy: Signal

Clocking in at just over 1 second on average, Signal was the clear winner in speed with TrailingCrypto trailing close behind (pun 100% intended).

Price

This was the easiest comparison of this review. All three products have a monthly subscription fee and no cost per transaction.

Price comparison including discounts given for 6 and 12-month plans

Signal offers a 30-day trial, ExchangeValet a 14-day trial, and TrailingCrypto is currently free while they are testing their software for bugs with beta users.

Which is more affordable?

:trophy: TrailingCrypto

Assuming you are using the free TrailingCrypto plan, it is the most affordable. Of the paid plans, Signal is the lowest at roughly 1/3 to 1/2 the cost of the other tools.

Usability

The user interface is something that really comes down to personal preference. Like fashion or food, everyone has a different opinion on what they like better.

I will share my thoughts, but to provide an unbiased analysis here are some screenshots of the common actions.

If in the future these companies update their interface, let me know and I will upload the latest versions.

Creating a trade with 2 take profits and 1 stop loss

3Commas

Signal

ExchangeValet

TrailingCrypto

I was surprised at the variety when creating a trade.

With 3Commas, it felt like there were a lot of knobs and dials, which was nice to use because you had more options.

Signal was definitely the most focused and it was intuitive for building up the trade one step at a time.

ExchangeValet was a bit annoying at times, forcing me to manually calculate prices and count zeros.

TrailingCrypto was by far the worst to use. There was no option to specify more than one take profit at the same time and they had to be done as multiple orders. It was tedious and error-prone, with some combinations, such as a “limit buy” and a “trailing stop sell”, not being valid order configurations and having unexpected behavior.

Viewing open trades

3Commas

Signal

ExchangeValet

TrailingCrypto

3Commas, Signal, and ExchangeValet had tables contained important information such as the coin, date, profit, and status of buying and selling.

I liked the widget 3Commas has which shows you how close you are to hitting your orders. Signal’s table was easier to read and the note-taking section was much better. For TrailingCrypto, treating each order as a separate thing made it inconvenient to keep track of what the status of each trade was.

Which is easier to use?

:trophy: Signal

For me, this was a close call between Signal and 3Commas. I liked the simplicity and focus of Signals’ interface as a whole, but there are parts of 3Commas, such as the widget, that were great to use.

Trust

Given that these companies are being trusted with your financial information, trust is an important factor. To assess this, I decided to look into the people and companies behind the products.

3Commas

From the Terms of Use documentation, I was able to find that 3Commas is created by Trendlux OÜ, a company with legal address in Tallinn, Estonia. The directors of which are Dmitri Kuznetsov, Andres Susi, and Yuriy Sorokin.

Heading to LinkedIn, I found slightly contradictory information. 3Commas claimed to be based out of an address in Toronto, Canada. Yet Dmitri’s profile states that he lives in Germany, Andres in Estonia, and Yuriy in Russia.

3Commas listed headquarters in Toronto, Canada

Looking into the address listed as the company headquarters, I found that it is in fact a WeWork. A place where entrepreneurs can rent temporary office space. A service frequently used by freelancers and digital nomads.

Looking at each director further, I was able to see that their past experience includes participating in and advising various small startups, in addition to working in sales and software development. I couldn’t find anything indicating that 3Commas had raised venture funding until now.

Signal

From the payment page, I was able to determine that Signal is owned by Signal Inc., a company incorporated in the United States. The directors of which are Kyle Kaiser, Tamara Bain, and Jason Knott.

Digging into the company’s background, I was able to find that they participated in the Y Combinator program in California and their company has raised its seed round of investment. (Y Combinator is the program that Quora, Reddit, Airbnb and others went through).

Crunchbase lists their headquarters as also being in Toronto, Canada. Cross-referencing with their LinkedIn profiles seems to corroborate this though, as they all list Toronto as their place of residence.

Looking into the directors further, I found that their past experience includes involvement in various startups, but that they had remarkably little enterprise experience. It is also worth noting is that Kyle and Tamara are listed as venture partners and advisors for the Y Combinator Pioneer Fund.

ExchangeValet

I wasn’t able to find much about ExchangeValet. I wasn’t even able to find a Terms of Service or Privacy Policy which was worrisome.

From LinkedIn, I was able to find that the founder, and as far as I can tell the only employee, is Daniz Yazar. He lives in Colorado, although his portfolio is all in Turkish and has his location as being in Turkey and he went to school in New York.

With this information, I would assume ExchangeValet is most likely based out of the United States but may be based in Turkey.

Daniz’s background includes work as a designer and developer.

TrailingCrypto

From the Terms of Service, TrailingCrypto is owned by TrailingCrypto Inc. I was able to locate Ankit Kumar Singh on LinkedIn. He is from India and did an internship there for 2 months. Surprisingly, no one else had it listed as a company they were involved with.

When asked in the group chat, they said that they are from Delhi, India.

From their Facebook page, it appears that there have only been 3 updates in the past year, which leads me to believe that the product may not really be worked on.

Who is the most trustworthy?

:trophy: Signal

I liked that I could easily put a face to Signal and presumably if something did go wrong they would be easier to raise a lawsuit against.

I didn’t like that 3Commas was being misleading about their location and the people in charge all seemed to be in different countries. ExchangeValet seemed genuine but small and TrailingCrypto gave the impression that the people behind it did not want to be associated with their product publically.

Conclusion

I hope that my analysis can help you make a more informed decision.

Which do I recommend?

As with anything, the best choice comes down to your unique situation.

If you trade primarily on Binance and care about speed, price, ease of use, and trust, then Signal is the best choice.

If you are managing trades across multiple exchanges, then 3Commas is the way to go.

If you are paper trading and want to play around more before starting to invest, then TrailingCrypto is a good choice.

Thanks for reading. If there were any errors or omissions then please send me a message and I will include your feedback.

Also if this was helpful and you are considering signing up for one of these tools, then I ask that you help me out by using my affiliate links. It isn’t much, but it helps me stay caffeinated while I write these articles!

Credit for this article goes to Coin and Crypto!

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