Despite being highly volatile, cryptocurrencies are becoming a popular investment option among traders. No wonder, there is a huge proliferation of crypto investment platforms like Mudrex. With the promise of earning high returns through smart crypto investment, Mudrex claims to use algorithms designed by the best crypto traders. More than 10000 investors are claimed to have traded around $500 million and more via this investment service.
We could not find the location and contact information of the vendors as the official site offers the bare minimum info on the company. For customer support, links to the company profile on social media platforms like Facebook, Twitter, Medium and Discord are provided. We are disappointed with the customer support as the company uses Discord as its main customer service contact.
The website design is minimalistic and all info provided focuses on inviting users to invest in the platform. Some of the features promoted on this crypto trading site include:
- Use of crypto exchanges including Bitmex, Coinbase, Bybit, Deribit, and more
- A strategy builder feature that helps you build your trading strategy
- Backtesting of strategy to ensure trading strategies are effective
- Use of more than 200 indicators
- Ability to earn through the platform by publishing successful strategies and more
- A performance score is provided for each bot to enable users to pick the right strategies
- API keys are sufficient to connect to your exchange and the trading platform.
The support section of the site provides guides on various aspects including account creation, connecting your crypto exchange with the platform, using a payment method, and more.
The Idea Behind Mudrex
Created by the best crypto traders, Mudrex claims to be a well-organized marketplace consisting of top algorithms which are fully automated. The algorithms used are capable of working over market cycles and the company claims they can reduce the risk and provide clients with stable returns resulting in a passive income. As per the vendor info, a client can earn a steady return of 7% by using 3 to 5 of the algorithms over a period ranging from 6 months to 9 months.
The team here consists of experienced traders, developers, and designers with the collective mission of providing advanced methods in trading and investing. As per the website info, the team has used the best technologies with solid Venture Capital backing and has been part of various projects in the field. The info of all team members with their images is displayed on the ‘About Us’ page. Alankar Saxena, Prince Arora, Rohit Goyal, and Edul Patel, are the founders occupying the lead roles in the company while Kartikey Agrawal is the backend developer.
Safety of Mudrex and the Network
Since the client funds are not kept by this platform it does not mention much about security. In the support info, there is mention of AES-256 encryption, SSL, and TLS 1.2 for the security of API traffic. The company claims that any info it shares with third-party sites is done in encrypted form and after verification of the info, it is promptly deleted.
The fee charged by this platform is based on the invested amount. The percentage depends on the particular bot you decide to invest your funds in. For instance, the Webneshin Strategy below carries a 1.17% fee. Unlike the competitor platforms that charge a fixed upfront fee, the fee here is decided by the creator of the specific strategy.
We found 18 reviews for this company on the Trustpilot site with a rating of 4.2/5. Here are a few of the negative and positive ones:
From the negative feedback, it is clear that the trading approach used by the team is not working. Here, the user complains about losing 10 trades in a row.
Is Mudrex a Legit Investment Service?
From our evaluation of this crypt investing and trading platform, we find that this is not a legitimate service.
Our VerdictOur Verdict
- Pricing is affordable
- Refund of fee in case of investment not giving returns
- Bad Customer support
- Website is not user-friendly
- No verified results