Wrist-worn consumer-grade activity trackers are popular devices, developed mainly for personal use. This study aimed to explore the validity, reliability and sensitivity to change of movement behaviors metrics from three activity trackers (Polar Vantage M, Garmin Vivoactive 4s and Garmin Vivosport) in controlled and free-living conditions when worn by older adults. Participants (n = 28; 74 ± 5 years) underwent a videotaped laboratory protocol while wearing all three trackers. On a separate occasion, participants (n = 17 for each of the trackers) wore one (randomly assigned) tracker and a research-grade activity monitor ActiGraph wGT3X-BT simultaneously for six consecutive days. Both Garmin trackers showed excellent performance for step counts, with a mean absolute percentage error (MAPE) below 20% and intraclass correlation coefficient (ICC2,1) above 0.90 (p < 0.05). The MAPE for sleep time was within 10% for all the trackers tested, while it was far beyond 20% for all other movement behaviors metrics. The results suggested that all three trackers could be used for measuring sleep time with a high level of accuracy, and both Garmin trackers could also be used for step counts. All other output metrics should be used with caution. The results provided in this study could be used to guide choice on activity trackers aiming for different purposes—individual use, longitudinal monitoring or in clinical trial setting.