Binance Broker Partner Spotlight: 3Commas
Binance’s partner brokers, such as 3Commas, are becoming important parts of the Binance ecosystem amid our ongoing evolution as an open platform. Find out more about how we work with 3Commas.
Since we launched the Binance Broker Partner program last September 2019, we have worked with some of the major crypto brokers around the world to provide their users with upgraded crypto trading services, order-matching, account management, and settlement systems, through one simple API. As of today, more than 100 brokers worldwide are part of the program.
As a major infrastructure provider for cryptocurrency users and businesses, Binance supports innovation and welcomes a wide range of ideas. We help new crypto businesses grow by providing them with the necessary tools and technological structure to make their first steps easier. We believe that the Binance Broker Partner program will open the doors of opportunity for new crypto entrepreneurs and further expose the public to crypto.
3Commas, one of the first crypto trading platforms to join the Binance Broker Partner program, provides an excellent case study on how Binance works with its brokers. Our feature on 3Commas is first of the Binance Broker Partner Spotlight series, where we’ll take a closer look at the diverse trading services and benefits Binance provides to 3Commas users.
How Binance Works With 3Commas
3Commas is a provider of smart trading tools and automated trading bots for crypto investors. The software connects to API accounts and thus can trade on multiple exchanges from one 3Commas’ account. The service has a smart trading terminal with a convenient interface and a set of tools that allow you to implement sophisticated strategies. The service supports 23 exchanges, including Binance, and offers different tiers of subscription packages for the use of their bots and tools.
While 3Commas’ current business model has turned it into a leader in its field, the company wanted to explore more growth opportunities beyond its subscription model. To get an effective trading result, traders need a strategy and high-quality software to implement it. To achieve this perfection, Binance cooperated with 3Commas to create the 3c.exchange, which combines the exchange expertise of Binance and the custom tools of 3Commas.
3c.exchange is a crypto trading platform that offers automated and smart trading features, including trading bots, smart terminals, and more, from 3Commas. With the help of Binance, 3c.exchange provides a unique, compelling trading service, while still benefiting from Binance’s economies of scale. It currently has 2,000 daily active users, trading around 10,000 BTC in total monthly crypto volumes, just a few months after 3Commas’ entry into the Binance Broker Program.
How Binance Boosts 3Commas’ Business
Binance provides partners such as 3c.exchange with order matching solutions, account management, and trade settlement systems, among many other advantages that come with partnering with a major exchange. Binance offers all these, plus personalized marketing consulting and support, rewards systems, and other networking and business perks, in exchange for just a fraction of the fees made by our partner brokers.
With great support from Binance through the Broker Program, 3c.exchange’s users get the best of both worlds, taking advantage of the security, technical, and trading volume prowess of the top cryptocurrency exchange in the world, while being able to use the smart trading tools that 3Commas is offering. Veering away from 3Commas’ subscription model for its trading tools, 3c.exchange earns via trading fees based on trades made on the platform. Based on recent studies, users end up having significantly lower costs for their trades compared to the subscription model.
Since joining the Binance Broker Program, 3Commas was able to earn more from its creation of 3c.exchange, made possible with Binance’s support. Aside from being able to explore a new avenue for earning, the service is able to showcase what its smart trading tools can do when fully implemented on an exchange. 3Commas is able to upsell to their subscription model as a result, driving more volumes and business for both 3Commas and Binance.
With this exclusive arrangement with 3Commas for operating 3c.exchange, Binance is able to expand its user base to more areas than previously possible. We take a small share of the trading fees on 3c.exchange, which in turn helps us further expand our cooperation with 3Commas and other Binance Broker Partners.
What 3Commas Says About the Program
When we asked 3Commas about their experience with the program, their representative told us, “We are happy to represent Binance as a broker. This is an excellent opportunity for our service and its customers. The Binance Broker Partner program helps Binance customers to trade using 3Commas, with the tools of one of the best trading services.
“Working with Binance makes the whole process genuinely convenient and clear. We have no problems or errors, which is important for us because we put our users' satisfaction first,” 3Commas added.
Asked about why it partnered with Binance the first chance it got, 3Commas said: “Binance has a huge power of influence on the market, and this is a unique advantage for Binance Broker program participants. It is important for our customers that their funds will work and make a profit in a new trading platform. Therefore, liquidity is one of the key benefits of the Binance broker program.”
Become a Binance Broker Partner Now
Since we launched the Binance Broker Partner program months ago, we have enhanced the program further. A major update is our newly-launched support for futures broker trading, which opens up a whole new suite of opportunities for our current and upcoming partners. We also support API key mode access for quicker, easier access to crypto trading for our brokers.
“Futures trading is an inalienable part of crypto trading in 2020, and it is the most frequently requested functionality among our users. Binance Futures provides an opportunity for our users to make a profit even with a small starting deposit, so it is a unique chance. This opportunity for novice traders has realized thanks to the ability to be a Binance broker,” 3Commas said about the new futures support in the program.
At Binance, we want to grow our roster of broker partners from 100 to 150 and more, bringing Binance’s liquidity and market depth to the users of any other exchange, platform, or institution. Apply here to become a Binance Broker Partner today.
We’re also looking for business development managers who can help us grow the program further. Apply here to join the Binance team!