2020 was a fantastic year for cryptocurrency, as many currencies witnessed their all-time highs, including Bitcoin. The market has grown considerably over the years and is expected to see the same growth in 2021. Many innovations have now made the lives of traders extremely easy, and the biggest one is automated trading. In a market that is active 24×7 and extremely volatile, it is virtually impossible to track the prices continually and make consistent returns manually. Therefore, with trade automation, users can easily automate their trades and trade while they sleep. Moreover, many platforms now offer users the option to copy the strategies of expert traders. This process is known as copy/mirror/social trading.
In this article, we will discuss three such copy trading platforms, and their features in detail, and help you choose the best platform for your investment needs.
Here’s the 3Commas vs Mudrex vs eToro comparison
3Commas is a cloud-based crypto trading platform that comes with a multitude of features for both beginner and experienced traders. 3Commas offers its users a pool of trading bots with customisable options to mix and match their strategies. It is one of the most sought after platforms right now, with the wide variety of automated crypto trading options it offers. This fee-based platform allows users to either follow pre-made trading strategies from the marketplace or build their own.
Mudrex brings automated crypto investment to everyone, be it new or experienced investors. This new-age cloud-based platform allows its users to trade in pre-made strategies or build and invest in their own. If you want the experts to take over strategy, you can invest with automated trading bots at Mudrex Invest. These bots are 100% automated and spread across multiple cryptocurrencies and exchanges for you to choose from.
However, if you want to build your own strategy, Mudrex’s no-code platform Mudrex Build is here for you. Here, you can create, backtest and publish your trading strategies without writing a single line of code.
eToro is one of the world’s leading social trading platforms and offers investment solutions across markets to users of all skill levels. Making investment easy for everyone, eToro offers both copy trading and manual trading solutions. Users can follow other traders and their investment strategies, or automate their own trades. eToro also offers a service called CopyPortfolios, which is a portfolio management product, investing in which will automatically copy multiple markets or traders.
3Commas vs Mudrex vs eToro — A Review
In this 3Commas vs Mudrex vs eToro review, we will score each platform from 0-10 on multiple essential features that an investor looks for in a trading platform. These are reliability, pricing, profitability, community, and many more. The final scores are given below, and the detailed review follows.
|Trading Strategies and Profitability||6/10||9/10||8/10|
|Ease Of Investment||7/10||9/10||7/10|
|Community & Support||7/10||9/10||6/10|
#1 Platform Reliability
Every trader wants a reliable platform to invest on so that they don’t lose money. Therefore, we review some features that make these platforms reliable.
3Commas is an automated trading platform based in Russia launched in 2017. Since its launch, the platform has seen steady growth and has now amassed over 33,000 active users. To help users feel secure on their platform, 3Commas requires minimal API permissions, which removes the possibility of malicious withdrawals while investing. Moreover, 3Commas has an expert security team and offers detailed documentation for its platform to help users understand it a bit better.
Mudrex was launched in 2019 and backed by Y-Combinator. Based in San Francisco, this automated trading platform has gained quite some popularity in a short period, majorly due to its easy to use and understand dynamics. Mudrex has over 10,000 investors, and a total trade value of $500 million till now. It has employed definitive security measures such as 2FA, lightning-fast support and minimal withdrawal permissions for APIs, eliminating the risk of any malicious transactions.
eToro was launched in 2007 to revolutionise Fintech. While the first iteration of the platform was an online stock trading portal that made trading easy for everyone, it added cryptocurrencies over a decade later in 2017. The platform is based in London and reached a whopping 13 million registered users last year. eToro now offers comprehensive trading solutions in multiple markets, such as stocks, ETFs, cryptocurrency, indices, commodities and currencies. However, to trade, users have to add money to their eToro account, and have the option to withdraw it via a method of their choice.
A reliable platform gives an investor the peace of mind, which helps the investor make better decisions. With utmost security and transparent results, both Mudrex and eToro rank the highest in platform reliability.
#2 Trading Bots/Strategies and Profitability
Every platform has many strategies/bots to choose from, but a trader must know the correct details about the bots they invest in. Here, we review the types of bots each platform has, and what filters are available to users to view them.
Trading At 3Commas
Users at 3Commas can view the available bots in the marketplace, and sort them out using filters including exchange it trades on, cost, followers of a strategy, and the 1-week, 1-month and yearly returns.
Some of the top-performing bots at 3Commas are:
Trading At Mudrex
The Mudrex dashboard provides all vital details about the trading bots, such as the cryptocurrency the bot trades in, total lifetime returns, number of investors in each strategy, a performance score (0-10) by Mudrex rating each strategy after a risk vs reward analysis, total run time of the strategy, the monthly fee and the last 30 day returns.
Investors can easily view the top performing bots, and some of them are listed below with their returns in the past 30 days:
Trading At eToro
eToro is a comprehensive trading platform built for different markets. While there are many options, the UI can be a bit confusing for the beginner trader. Users can view the trade markets at eToro, which feature the top cryptocurrencies you can trade with. Moreover, you can copy other people at the platform, with viewable filters such as time period, verified or unverified trader, returns, risk score (calculated from 1-10 by the platform), number of copiers and number of weeks the trader has been active for.
Investors can easily view the top-performing traders, and some of them are:
It all depends on how easily a user can make an informed decision while trading and Mudrex helps users select the right bot with the right features, with minimal clicks. Therefore, Mudrex ranks highest here.
Trading Bots/Strategies and Profitability
#3 Pricing / Platform Usage Fees
Platform pricing is a pretty huge deciding factor for many investors before they begin. Therefore, we review the usage fees for all three platforms.
Users at 3Commas have the option to choose between a free and a paid investment plan. The free plan offers a basic version of the platform, with Grid Bot, one SmartTrade, one Options Bot and an Infinite number of exchanges to track per month. The paid plans include three-tiers, for traders of all types. The paid packages Starter ($8.7/m), Advanced ($14.7/m) and Pro ($29.7/m) offer many other features over the free version.
While investing, users can invest in both free and paid strategies. While there are many strategies available, the cost of some of the paid strategies is exceptionally high, reaching over $130/month in some cases. Investors at 3Commas can start investing with as little as $100, but this is after the platform fee and strategy fee (if investing in a paid strategy).
Mudrex offers a different pricing option, unlike other major trading platforms. At Mudrex Invest, you do not have to pay to use the platform, but only when you invest in a trading bot. The trading bot fee varies from bot to bot and starts as low as $5. The minimum investment amount on the platform is $150 (exclusive of the strategy fee). Another unique feature for investors at Mudrex is Mudrex Protect. Strategies that come with the Mudrex Protect stamp have a fee return guarantee if it does not yield profit in a month.
If you want to build, backtest and publish your strategies, the Mudrex Build platform offers both free and paid versions. The free version has some basic tools to help you begin designing strategies, but with some limitations. With the paid version that costs $16/month, you get unlimited backtests, all technical indicators, priority 24×7 support and the ability to publish your strategies on Mudrex for other users to follow.
Opening an account at eToro is free, and the platform does not charge any management or ticketing fee. Moreover, when you copy other traders, there is no fee charged by the platform. However, when you buy cryptocurrencies from the platform, the platform has a spread fee varying according to the crypto. For example, the spread on bitcoin is 0.75%, so for every $1000 worth of BTC purchased, the platform will charge a fee of $7.5. The spreads vary from 0.75 – 4.5% across cryptocurrencies. Moreover, the platform also charges a withdrawal fee of $5, and a standard crypto transfer fee may also apply.
Mudrex offers a simple, and easy to invest pricing model, therefore, it ranks the highest in platform usage fees.
Pricing / Platform Usage Fees
#4 Ease of Investment
Users prefer an easy-to-use platform, and in crypto trading, it really matters how easily a user can invest. Therefore, we look at how these three platforms rank in ease of investment.
How To Invest On 3Commas
The 3Commas platform is well known for its easy to use UI, and an exceptional user experience, both on its desktop and mobile platforms. Users can track and control their investments with ease, and the dashboard is user-friendly as well. Traders can easily view all vital information on the dashboard, such as the live trades, most popular trading bots, exchanges, the marketplace, and many more.
Here’s how one can start with 3Commas:
- Create/Login to your 3Commas account;
- Connect an exchange with an API key;
- Pay the membership fee for the platform;
- Select the signal that you want to use, and pay the subscription fee;
- Create a bot with your subscribed signal and select the investment amount;
- Start the bot with the intentional settings, and you are good to go.
How To Start Investing On Mudrex
With a focus on providing an easy-to-use platform to its users, Mudrex does that exceptionally well. The UI is intuitive and really user-friendly, with all details displayed competently. The platform, however, is not available on mobile devices as of now. The desktop version makes up for that, with its approachability and ease of use.
Here’s how you can start investing on Mudrex:
- Create/ Login to your Mudrex account;
- Connect the desired exchange with API keys;
- Choose the bot you want to invest in and select the amount;
- Pay the platform fee, and you are all done.
How To Start Investing On eToro
Users at eToro have to answer a few questions before they can begin investing at eToro, as the platform wants to offer the best possible trading solutions for the user. Once you have answered the questions and verified your account, then your trading journey can begin with eToro. With eToro, you can invest in crypto on your own, or follow other users’ strategies.
Here’s how you can start investing on eToro:
- Create/ Login to your eToro account;
- Answer multiple questions to get started;
- Verify your account;
- Deposit funds via credit/debit card or payment platforms;
- Choose the trader you want to follow;
- Copy their strategies, and you are good to go;
The Mudrex Invest platform is extremely easy to use for investors. Therefore, it tops the list for ease of investment.
Ease of Investment
#5 Post-Investment Tracking
Users should be able to view their portfolio and all transactions easily. Here, we review how these three platforms offer post-investment tracking solutions.
Portfolio Tracking At 3Commas
At the 3Commas dashboard, users can view their portfolio details, such as the total portfolio value, 24-hour change and the respective changes in the invested trading strategies.
Portfolio Tracking At Mudrex
The Mudrex Invest dashboard offers all essential portfolio details to its users efficiently. These details include the bots you have invested in, the total amount invested, the current value of the investment, the total returns in % of each bot, and the overall returns.
Portfolio Tracking At eToro
The portfolio tab at the eToro dashboard is pretty comprehensive and offers all vital details in a single click. Users can view a graphic representation of their portfolio, total available funds, total allocated funds, total returns, total equity, past trades and net cash flows. Users also have the option to choose from the portfolio overview, and manual transactions overview as well.
eToro offers a detailed overview of the investments to the users, which is why it is the top-ranked holder for post-investment tracking.
#6 Exchanges Supported
Investors often trade on different exchanges, which is why all trading platforms should support as many exchanges as possible. Here, we look at the exchanges supported by these three platforms.
Exchanges Supported By 3Commas
3Commas supports 23 crypto exchanges, including Binance, FTX, Bybit, Bitmex, Deribit, Bittrex and Coinbase Pro.
Exchanges Supported By Mudrex
At Mudrex, users can invest through Coinbase Pro, Binance, Bybit, Deribit, OKEX and BitMex.
Exchanges Supported By eToro
Users at eToro can purchase cryptocurrency directly on the platform with debit/credit cards, and then transfer them to your eToro Wallet, in their own exchange known as eToroX.
3Commas supports the most number of exchanges among the three platforms, which is why we score it the highest.
#7 Community & Support
To help solve the user’s problems, each platform should have an expert support system. Here, we review the support offered by these three platforms and their social communities as well.
The live chat feature helps users get real-time answers to their questions at the 3Commas platform. Moreover, the platform has active communities on their Telegram and Discord channels. The FAQ section also helps the beginners, but may not be useful for more significant issues or clarifications.
Here’s how you can reach them:
- Email: firstname.lastname@example.org
- Discord: discord.com/invite/2yscHv8
- Telegram: https://t.me/commas
Users at Mudrex can visit the FAQ section, which is extremely detailed and offers solutions to almost all account-related issues. If the FAQ section does not provide you with a solution, the Mudrex email support is lightning-fast, complemented by a blog section where users can learn about the platform even more. The platform has active communities on Discord and Telegram, with a minimal presence on social media.
Here’s how you can reach Mudrex :
- Email: email@example.com
- Discord: discord.com/invite/qdXmm4N
- Twitter: twitter.com/officialmudrex
eToro offers live chat support to its users on the platform and has active social media presence across major social channels. Users can also raise tickets at the platform in case they need assistance. However, the ticketing system may not be quick and take a few business days to receive a response.
Here’s how you can reach eToro:
- YouTube: https://www.youtube.com/user/eToro
- Twitter: twitter.com/eToro
- Facebook: facebook.com/eToro
When it comes to community and platform support, Mudrex offers fast support and a comprehensive blog and FAQ section. Therefore, it receives the top rank in community & support.
Community & Support
#8 Referral Bonuses
Many trading platforms offer referral programs to help users earn with their network. Here we look at the referral programs offered by these platforms.
The 3Commas’ partnership program offers a commission on each time your referred user spends on the platform. However, the earnings are capped at up to 40% for each referral’s spend. The platform also offers features such as detailed link tracking and minimum payout limits.
Users at Mudrex can earn $25 for every valid referral. Moreover, whatever the referred user spends on Mudrex, you get 50% commission, without any commission limits. Mudrex also hosts multiple giveaways and bonuses frequently, including exciting prizes, additional bonuses, and much more.
Users can get $50 for every valid user they refer to the eToro platform. However, the offer is available to users of a few selected countries and is capped at $500, or maximum ten referred users.
Any referral program should have high profitability, with no or high earning limits. Therefore, Mudrex takes the top spot in referral bonuses.
3Commas vs Mudrex vs eToro — The Final Verdict
As we reviewed the three platforms above, it is clear that all the platforms have multiple advantages with certain limitations. Through this 3Commas vs Mudrex vs eToro review, we hope we can help you select the right trading platform for your crypto investments. However, it is important to understand that no trading bot is ‘perfect’ for everyone, and it all depends on the type of investments you are looking to make. Before you start investing, it is crucial to understand how the platform and the crypto market works.
While no trading bot is perfect, this 3Commas vs Mudrex vs eToro review proves that Mudrex can be the ideal choice for crypto traders. Mudrex offers its users a stellar user experience, an intuitive UI, and comprehensive security. Moreover, the ease of investment and profitable bots helps users generate consistent returns, and trade while they sleep with 100% automation. It is safe to say, Mudrex is the high-performing automated trading platform you are looking for.
Let your trades work on autopilot. Get consistent returns with Mudrex.