Comparison of Phemex vs Mudrex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Phemex vs Mudrex comparison!

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Mudrex

Main points

Fees

0,10%

Earns

Customer service

3/5

0,25%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.9 – Reasonable fees with additional benefits for automated trading.

Level

0,10%

0,25%

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

Mudrex does not charge any trading fees for its automated trading bot services, which is a significant advantage for users looking to maximize their profits without worrying about the cost of each transaction. This fee structure is particularly beneficial for both high-frequency traders and those new to the crypto markets, as it allows them to experiment with different strategies without the burden of additional costs. The absence of trading fees makes Mudrex an attractive platform for users seeking to optimize their trading efficiency and profitability in the cryptocurrency market.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Mudrex

Security methods: Mudrex places a high priority on security with robust measures to protect user funds and data. This includes using encryption for data protection and storing the majority of user funds in cold storage to reduce the risk of hacking.
Reputation and Reviews: Mudrex has garnered positive feedback from users for its innovative platform and customer service. Its unique approach to automated trading through bots has been particularly well-received, contributing to its strong reputation in the crypto community.
Transparency: The platform operates on a 'no profit, no fee' basis, which ensures that they only profit when their users do. This policy promotes transparency and aligns the interests of the platform with those of its users.
Customer service: Mudrex offers dedicated customer support that assists users with their queries and concerns promptly. This reliable customer service enhances user trust and satisfaction.
Innovative investment solutions: The use of algorithmic trading bots allows users to automate their trading strategies, making sophisticated trading accessible to novices and reducing the barrier to entry in the complex world of cryptocurrency trading.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

Mudrex Inc

Regulation

Not regulated

Year founded

2019

Founder

Jack Tao

Edul Patel

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Mudrex
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	Mudrex allows users to start with relatively small amounts, making it accessible for beginners.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	One of Mudrex’s significant advantages is its no trading fee policy on automated bot strategies, which is highly cost-effective.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	While Mudrex supports popular cryptocurrencies, its range is less extensive compared to larger exchanges.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Mudrex focuses more on trading strategies than on offering a vast number of trading pairs.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	Mudrex provides clear information about its trading strategies and results, but could improve transparency regarding its operational aspects.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Mudrex does not currently offer a debit or credit card for customers to use in their day-to-day transactions or at their shops.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Mudrex offers secure storage options, with a majority of assets held in cold storage ensuring high security.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Offers competitive staking opportunities and rewards, though these might be linked to specific conditions and availability.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	The Mudrex platform is accessible via desktop and has a functional mobile interface, although it may lack some features available on the desktop version.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Generally responsive and helpful, but there could be improvements in wait times and support hours.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Deposits are straightforward, but the platform currently lacks support for direct debit/credit card deposits, and withdrawal options could be more diverse.

Key features

Analysis tools

Advanced charting tools, technical analysis

Automated trading bots

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Automated trading strategies, staking, Mudrex Coin Sets

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

Platform for crypto algorithms, not direct trading

User-friendliness

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Mudrex offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Provides good value for money with competitive fees and automated trading strategies, making it an attractive option for new and experienced traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

United States, Canada, United Kingdom, Australia, India

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Ideal for traders interested in automated trading strategies and competitive fees.

Base currencies available

USD, BTC, USDT

Platform for crypto investments, not direct trading

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Mudrex focuses on automated trading strategies, allowing users to invest in pre-built algorithms. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

Deposit and withdrawal

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Mudrex focuses on automated trading strategies and supports various deposit and withdrawal methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

Mudrex offers a seamless and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick and typically completed within a day.

KYC required?

Yes

Customer Service

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Mudrex offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Mudrex provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

Xavier Tarrasó

As one of the experts on our website, I would recommend Mudrex for anyone interested in cryptocurrency trading, especially if you’re looking to leverage the power of automated trading bots. Mudrex simplifies the process by providing a platform where even those with minimal trading experience can participate effectively. The user-friendly interface and the “no profit, no fee” model make it an appealing choice for both beginners and seasoned traders. Whether you’re looking to actively manage your investments or prefer a more hands-off approach, Mudrex offers tools that can help you achieve your financial goals in the crypto space.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.