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Mudrex Review 2022 – Is It a Safe Trading Bot?

Last Updated: May 12, 2022

The ultimate question thus goes like this: does Mudrex provide clients with working solutions that provide stable passive incomes? Our goal today is to find out with this Mudrex review.
Mudrex Trading Bot Review – Quality Bot Procurer or Dubious Flea Market of Scripts?
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Mudrex Review 2022

There are way more newcomers to crypto trading than there are experts who accumulated experience over the previous years.

With a gold rush that is the recent crypto trading industry boom, people with starkly different backgrounds drop everything to pursue this new career, and various services have sprung up to accommodate.

Mudrex is such an example as it provides beginners with simple but apparently effective trading bots. Is Mudrex along with its bots legit, though?

As cryptocurrencies slowly but inevitably start to become legal tender around the world, it has become an indisputable fact that cryptocurrency is here to stay.

After a little more than a decade, crypto coins have grown from a fringe nerdy project to a formidable force in the global economy, as El Salvador can attest to from 7th September onwards.

These global trends are indicators of how quickly the cryptocurrency market has grown. The boom has subsequently attracted masses of people from various branches of human economy.

How come?

Well, crypto trade automation plays a big part in it. Since with bots you don’t really have to invest much time to trade, there’s no need to “sacrifice” your day job in order to day trade.

A perfect tool for every beginner crypto trader, crypto bots only need to be given instructions after which they’ll remain active around the clock, without needing any rest or pause, beating their human counterparts in every domain.

However, not every bot available on the market is a functioning trade tool, let alone a profitable endeavor. The market is crammed with non-working and half-working bots. The reality is that the best bots get to secure the deal first.

So, how do you allow rookies with no experience a fighting chance without having them spend months mastering the fine details of crypto trading?

Mudrex has come up with an interesting solution: they provide a space for crypto bot crafters to sell their bots in and pair them with interested clients looking for profitable trading automation scripts. 

Yes, a bot renting service of sorts, along with a couple of “official” scripts available that have been “approved”, “chosen”, or (more likely) sponsored by the Mudrex team themselves.

The ultimate question thus goes like this: does Mudrex provide clients with working solutions that provide stable passive incomes? Our goal today is to find out.

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What Is Mudrex?

Mudrex logo

Mudrex is a crypto trade automation software, or a crypto trading hub that allows users to invest in individual traders, different “crypto baskets”, or directly across the cryptocurrency exchanges using simple and straightforward bots that the users can get from the site, write themselves, or “rent out” from approved day traders.

Mudrex’s policy is to transform speculative crypto trading from “gambling” to “investing”. This is achieved by lending the services of various experts and experienced crypto investors.

Their technical research and insightfulness is supposed to minimize the risk involved and thus increase the profitability margins, making profits more reliable in the long run.

For us as customers this means that Mudrex gives official support to third-party groups and individuals to rent out their own bots for monthly money compensation.

In short, Mudrex is a solution intended for those with little time and little previous experience, but with a big desire to get on the market and start investing. This combination of traits, however, is highly risky and prone to sudden insurmountable losses.

Does Mudrex provide solutions that can carefully manage the new influx of crypto and fiat currencies and provide stable incomes for people who don’t yet have a fine grasp of cryptocurrency exchanges and the general market conditions? 

We’ll go step by step and venture into the nature of this automation service to be certain.

Ease of Use vs. Functionality

Mudrex Performance Metrics

A quick glance at the user interface and basic functionalities of Mudrex shows that it is a service intended to cater to those who don’t find themselves at home with the cryptocurrency industry yet.

First of all, Mudrex offers preset solutions only. There’s little to no customizability to the scripts that you can obtain from their website, as most of these come from other users who either get a share or require a flat monthly fee.

On the plus side, well, you can’t really get anything “wrong” or misuse the script. You just turn it on and let it forth as others have intended it to run. It is a mistake-proof solution. If the code works in the first place, that is.

On the negative side, well, you can’t really do much about existing codes. If you spot a mistake or room for improvement in a certain approach, there’s little you can do except make a different bot altogether from scratch.

And even this is not a reliable way as the features provided by Mudrex are intended to be simple and rigid in order to keep the users safe from their own mistakes.

In short, if you know what you’re doing, you’ll most likely be using something else that gives you more freedom with your trading bot performance and mechanics.

Couple all this with a design made with utter simplicity in mind and the very beginners will find Mudrex to be a good stepping stone, but anyone else will find it to be little more than a marketplace where proficient users get to earn money off of fresh players.


Mudrex Features

Several key aspects make the core of Mudrex’s offer.

The most prominent feature of this automation software is definitely the various algorithms that have been given a place on the platform in order to be rented out and disseminated across the community.

Top-rated traders and popular experts all get their spot in a plethora of scripts that stand at the disposal of crypto trading initiates.

These are all plug-and-trade options that do not require any setup or additional configuration. Open your wallet, spend some cash, and start trading within minutes.

What happens under the hood of these algos? You most likely won’t know. Well, you’re not supposed to care that much about that after all. Aren’t you a beginner?

The algorithms show the number of current investors, returns expressed in percentage, and the fee that the owner charges for using their intellectual property.

Each algorithm is awarded a score based on its performance in relation to other bots, so it’s a bit arbitrary. But, hey, it’s color-coded, green is good, yellow is okay, red is bad!

As simple as it gets, if not too simple…

In addition to algorithms, Mudrex also makes “coinsets”, a fixed set of different crypto based on various factors and grouped together for preset trades and pre-set trading pairs.

These are based on ideas and offer low-yield, minimum-risk investments that are supposed to be loss-free. If a loss happens, though, be prepared to lose much more than you can afford, as minimum-risk trades usually incur heavy losses when they eventually happen. 

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Exchanges Supported

Mudrex Exchanges Supported

Although Mudrex does not support many popular cryptocurrency exchanges at the moment, it has managed to secure a spot with some key players and thus has access to profitable deals in the shifting crypto industry.

As is common in speculative trading, having a proper entry increases your reach and potential trade deals that you can commit to before others.

The exchanges supported include Binance, Binance US, OKEx, Coinbase Pro, Bitmex, Bybit, Deribit, and FTX. 

Pricing Review

Mudrex’s pricing plans require a bit of elaboration.

There are two plans that users can “subscribe” to with Mudrex.

The first one is the “Free” plan, which, in spite of the name, does not come free of charge. The monthly fee is $0/month, that is true, but your “free” investment is capped to $500 USD.

Besides that, your backtests are limited to 100 per month, you don’t have access to live customer support (email and Discord only), and the minimum tick interval of bots is 15 mins.

Oh, and you don’t get to publish your scripts on the marketplace with the Free version.

After the “free” investment of $500 USD is surpassed, you get charged 1% of the invested amount per transaction. So, even if you’re not paying for the subscription, you still pay for the fees.

On the other side is the “Premium” plan that costs $19/month.

It represents an upgrade from the freebie plan with unlimited backtests, live support, min tick interval of 1 min, and up to $2500 USD invested without having to pay fees, besides everything else from the Free plan.

After the “free” $2500 USD of investments, you’ll get charged 0.5% of every investment. 

Customer Support & Security

Having a live customer support service is actually not that common in the crypto-bot trading industry, so that’s a big advantage.

However, the crux of the support still comes from Discord and email contacts, with customer service even stopping altogether their responses on Trustpilot.com somewhere around February 2021.

The Discord community has 2,500+ members according to their official website, so there’s a big pool of users you can get in contact with.

Regarding security, Mudrex uses API keys to access your funds, which is per the standards of the industry.

Relevant information is stored using AES-256 encryption, and API transactions go through SSL and TLS 1.2 protocols to prevent intrusions from third parties.


#1 Top Rated

#1 crypto trading bot in 2022

#2 Top Rated
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#1 Top Rated

#1 crypto trading bot in 2022

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👉 Get the Best Crypto Trading Bot

Review Conclusion

As a marketplace of rudimentary trading bots and basic services, Mudrex is altogether not that bad. However, for anything above casual trade, it’s simply not enough.

For any serious attempts at a day trader’s career, you’ll have to look around for something better.

And there are better options. For example, Bitsgap and Quadency. They both have the entirety of Mudrex contained within its own features, and many more features besides.

Not to mention that they actually allow you to customize and create your own bots, hassle-free, without having to pay commission and fees to other traders.

Bitsgap and Quadency are much better access points to crypto trading than Mudrex, so frankly, you might as well start there. 

Written by Jason Wise

Hi! I’m Jason. I tend to gravitate towards business and technology topics, with a deep interest in social media, privacy and crypto. I enjoy testing and reviewing products, so you’ll see a lot of that by me here on EarthWeb.

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