Comparison of Bingx vs Mudrex [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Mudrex

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,25%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for social trading features.

3.9 – Reasonable fees with additional benefits for automated trading.

Level

0,10%

0,25%

Brief explanation

BingX offers a competitive and transparent fee structure that is designed to accommodate both occasional and frequent traders. The platform charges a trading fee for each transaction, which is broken down into maker and taker fees. These fees are competitively set to encourage trading activities while ensuring the platform can maintain high-quality services. The trading fees on BingX are tiered based on the user’s trading volume, which means that the more you trade, the lower your fees can be. This system is particularly advantageous for active traders who can benefit from significantly reduced costs as their trading activity increases. Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain. Overall, BingX’s commission structure is built to support both new entrants to the crypto market and seasoned traders, ensuring transparency and fairness in every transaction.

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.

Bingx

Security Methods: BingX implements stringent security protocols, including two-factor authentication, cold storage of assets, and encryption technologies. These measures ensure a high level of protection for user funds and personal information, making it a trustworthy platform for trading cryptocurrencies.
Reputation and Reviews: BingX has built a solid reputation within the crypto community, backed by positive user reviews and ratings. The platform's commitment to user satisfaction and continuous improvement has garnered trust and loyalty among its users.
Transparency: BingX operates with a high degree of transparency, providing clear information about its operations, fee structure, and trading processes. This openness is crucial in building trust with users and differentiates BingX from other exchanges that might not be as forthcoming.
Trading Volume and Liquidity: The exchange boasts significant trading volume and liquidity, ensuring that trades can be executed quickly and at stable prices. High liquidity not only enhances the user experience but also establishes BingX as a reliable exchange for handling large volumes of trades efficiently.
Customer Service: Despite some delays, BingX's dedication to providing helpful and responsive customer service contributes to its trustworthiness. The platform's efforts to improve response times and expand its support capabilities demonstrate a commitment to user support, crucial for trust and reliability in the fast-paced crypto market.

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

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

Mudrex Inc

Regulation

Not regulated

Year founded

2018

2019

Founder

Elvisco Carrington

Edul Patel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bingx	FEATURES	Mudrex
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	Mudrex allows users to start with relatively small amounts, making it accessible for beginners.
Competitive fees compared to industry standards, making it economical for frequent trading.	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.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	While Mudrex supports popular cryptocurrencies, its range is less extensive compared to larger exchanges.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Mudrex focuses more on trading strategies than on offering a vast number of trading pairs.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	Mudrex provides clear information about its trading strategies and results, but could improve transparency regarding its operational aspects.
While BingX provides a robust trading platform with various features, the lack of an exchange card limits additional spending flexibility and rewards for its users	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 robust storage solutions including cold storage options to secure user funds.	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, enhancing passive earning potential.	Staking and Rewards	Offers competitive staking opportunities and rewards, though these might be linked to specific conditions and availability.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	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.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Generally responsive and helpful, but there could be improvements in wait times and support hours.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	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

Trading signals, technical analysis tools

Automated trading bots

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Automated trading strategies, staking, Mudrex Coin Sets

Anonymity

Yes

Key points

Available cryptocurrencies

50+

Platform for crypto algorithms, not direct trading

User-friendliness

BingX features an easy-to-navigate platform with a focus on social trading. The user interface is designed to be beginner-friendly, allowing users to follow and copy trades from experienced traders effortlessly.

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

Delivers good value for money with competitive fees and innovative social trading features, making it a cost-effective choice for 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

Singapore, United States, Canada, Australia, United Kingdom

United States, Canada, United Kingdom, Australia, India

Best for

Suitable for both beginners and experienced traders interested in social trading and following the strategies of other successful traders.

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

BingX focuses on social trading, allowing users to follow and copy trades from experienced traders. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

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

BingX provides various deposit methods, including bank transfers and crypto. Withdrawals are fast and generally processed within 24 hours. Fees are low, making it user-friendly.

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

Account opening process

BingX offers a simple and fast account opening process. Users need to fill in basic information and verify their identity. The process is fully digital and typically takes less than a day to complete.

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?

Customer Service

BingX provides customer support via email and live chat. The support team is responsive and helpful, although 24/7 availability is not guaranteed, which can be a limitation.

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

BingX uses standard security measures like 2FA and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some investors.

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 an expert on our website, I highly recommend BingX for both new and experienced traders seeking a balanced platform. Its strong security measures and transparent trading environment provide a trustworthy space for cryptocurrency transactions. However, while the platform offers robust features, including diverse trading pairs and competitive staking rewards, potential users should note the occasional delays in customer service response times. Overall, BingX stands out as a solid choice for navigating the complexities of the crypto market.

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.