Mudrex vs 3Commas: An In-Depth Review

Mudrex vs 3Commas: An In-Depth Review

Gone are the days when crypto investors had to rely solely on their own trading skills or resort to passive holding. Today there are many options for actively managing a crypto portfolio with automated crypto trading tools — more commonly known as crypto bots.

In this post, we’ll review two popular crypto trading bots: Mudrex and 3Commas. While both are used for automated crypto trading, these tools utilize different approaches to achieve desired results.

What is Mudrex?

Mudrex is a crypto investing platform that aims at simplifying the investment experience.

With Mudrex, users can connect their crypto exchanges or deposit funds directly into a Mudrex wallet. After that, users have two investment options:

  • Select one of the ready-to-use crypto portfolios,
  • Or build their own investment strategies using a visual strategy builder.

Mudrex strategies

With Mudrex, there is something for everyone. New users can simply invest in one of the pre-built strategies. More advanced users can build their own portfolios with algorithmic rebalancing.

The pre-built strategies are grouped into three categories:

  • Coin Sets — these are baskets of cryptos grouped by themes such as Defi, Metaverse, tokens issued by crypto exchanges, etc.
  • Mudrex Mints — low-risk, automated trading strategies with returns that are generally higher than holding BTC.
  • Algos — a marketplace of algorithms built by top traders and available for different exchanges and assets.

You can also build your strategy using ‘Build’, a visual strategy builder.

The strategy builder includes a wide range of options:

  • Signals based on price, volume, and other indicators such as moving averages
  • Trend and pattern recognition
  • Logical connections such as ‘AND’, ‘OR’, and ‘NOT'

A strategy could be as easy as buying at a certain price or as complex as you want.

Once you’ve defined your strategy, you can run a back test, paper test, or live trading test right within the Mudrex platform.

Mudrex profitability

The great thing about Mudrex strategies is that it’s easy to see the past performance or at least expected profitability.

For example, here is the profitability of a Medium Risk Mint, which trades perpetual futures for USDT pairs with BTC, ETH, ADA, MATIC, and BNB.

For each mint, Mudrex also shows additional statistical information about the past performance, including win rate, drawdowns, Sharpe ratio, and more. There is also a list of past trades with it's maximum drawdown and the final PnL.

Mudrex security

It’s clear that the Mudrex team takes security seriously.

Mudrex is a Binance Broker and uses AWS, GCP, and Microsoft Azure cloud platforms. Also, all user data is encrypted with AES 256, and access to it is limited to whitelisted IP addresses.

To further strengthen access to user profiles, Mudrex uses 2-factor authentication: email confirmation and Google authentication.

Mudrex pricing

Mudrex charges different fees for different products.

For Coin Sets, there is currently no fee. This is only for a limited time as it’s an experimental product. However, the company likely also earns money with so-called rebates from connected exchanges, which share their transaction fees with Mudrex.

Mudrex Mints charges a monthly fee of 1% of the strategy’s account. If the market goes down and the strategy loses money, this fee is refunded for that month.

For Algos, there are two fees based on the invested amount: the Mudrex fees and the fee set by the creator. Again, the fees are charged on a monthly basis.

Mudrex supported platforms

Currently, Mudrex works with several cryptocurrency exchanges in the spot and perpetuals market.

Mudrex supports spot crypto exchanges:

  • Binance and Binance US
  • OkEx
  • Coinbase Pro

Mudrex supports perpetual futures with these exchanges:

  • Bitmex
  • Bybit
  • Deribit
  • Binance futures
  • OkEx Futures
  • FTX

Mudrex says that more exchanges will be connected soon, including HitBTC, Kraken, Poloniex, Huobi, and Bitfinex.

What is 3Commas?

Founded in 2017, 3Commas is one of the leading platforms for automated crypto trading. It offers a wealth of options for creating trading bots.

3Commas strategies

Like Mudrex, 3Commas gives its users the freedom to create their own trading strategies.

Of course, creating a custom strategy requires a lot of time and skills. Any algo strategy simply automates what the trader would have done manually. If you aren’t confident in your trading skills, automation won’t help. And while automated trading helps to save time on execution, it still demands regular reviews to ensure that market conditions haven’t changed significantly.

Luckily, 3Commas also offers two relatively simple strategies that are easy to set up and ready-to-use presets.

The two main trading strategies on 3Commas are:

  • DCA Bots — this is a way of investing a fixed sum during regular intervals in order to avoid buying at the top just before the market falls. Instead, in a highly volatile market, buying in smaller chunks can give a better average entry price.
  • GRID Bots — this strategy places a chain of buy and sell orders, creating a grid. The idea is simple: buy low and sell high. Yet this works best in sideways markets with high volatility. If there is a clear upward trend, you’d end up without a position. And if there is a downward trend, you can end up holding a losing position that you would have to close manually.

3Commas profitability

Because any 3Commas strategy is defined by the user, it is hard to evaluate the overall profitability.

Trading Bot Presets show profitability for the past month. After clicking through to a preset, you can see the daily profit for the last 30 days.

Unfortunately, however, one month is not enough to fully evaluate the profitability of a strategy. Furthermore, conditions are subject to change.

3Commas security

As one of the official Binance Brokers, 3Commas takes security very seriously.

In reported cases when attackers stole passwords and logins of 3Commas users, the credentials were obtained through other sources, not directly from 3Commas. To prevent attackers from using leaked logins, 3Commas strongly advises enabling two-factor authorization.

3Commas pricing

There are several monthly plans, ranging from free to $99 a month. Discounts are available for paying for the whole year upfront. Usually, the free plan should be enough to try out the interface and see if a DCA bot or a Grid bot is what you need.

3Commas’s supported exchanges

Currently, 3Commas supports 17 spot and derivatives crypto exchanges, including Binance, FTX, Gemini, and others.

3Commas connects to crypto exchanges via API. The process is straightforward and usually doesn’t take much time to set up.

Mudrex vs 3Commas at a glance

Both Mudrex and 3Commas could be great tools for those looking to get started in trading. Even experienced investors would benefit greatly from using the tools presented in this article. Now it is your time to determine which service to employ to help take your crypto portfolio to the next level.