Mudrex exchange profile: INR trading, futures and withdrawal controls

Mudrex combines INR crypto dealing, diversified Coin Sets, hosted Web3 tokens and perpetual futures. Its public site advertises more than 650 assets, alongside Prime, institutional services and trading APIs. This is a product inventory claim checked on 20 October 2026, not a promise that every asset supports every network, account type or trading interface.[1]

The futures API documents base-asset order quantities and separate currency-specific wallets. INR settlement uses the conversion or hedge rates supplied by the platform. A trader comparing the same contract in two wallets therefore needs to compare the margin currency, conversion treatment and final proceeds, as well as the displayed contract price. No cross-currency wallet-transfer API is documented in that overview.[31]

The API supports market and limit orders, leverage and position management, stop-loss and take-profit instructions, and internal transfers between spot and futures balances. Its terms do not authorise external fiat or crypto withdrawals through this API. There is no sandbox or testnet: an authenticated test order can place real funds at risk.[34]

Add 18% GST to trading fees. For an illustrative ₹10,000 non-Alpha spot purchase, ₹45 commission plus ₹8.10 GST gives ₹53.10 before any price movement. Spot sales additionally incur 1% TDS on consideration after applicable charges. This describes platform deductions, not a calculation of the customer’s final tax liability.[6]

The live tariff shows USDT purchases without commission, GST or TDS, but USDT sales at 1% commission plus GST and TDS. Its current table supersedes the older explainer’s zero-conversion-fee statement. Futures tier eligibility combines INR-equivalent volume from both margin currencies; funding charges remain variable.[5]

Coin Set redemption is therefore available before a month has elapsed, but availability and price are separate questions. On an illustrative US$1,000 redemption subject to the stated early-exit rate, the exit charge is US$10; that arithmetic excludes any rebalancing charge, market movement and conversion.[7]

Crypto deposits use a receiving address for a selected asset and network. Copy the address from the current deposit screen and match the sending network exactly. Retain the transaction identifier and details until the credited balance appears; the deposit guide’s process does not establish a universal number of confirmations or a single arrival time for all chains.[15]

For an external crypto transfer, the help flow starts from the spot holding, then Send. It requests network, address, amount and recipient information for anti-money-laundering checks. A successfully submitted instruction does not establish that a different network or unsupported destination will be recoverable. Verify the route and requested recipient details before committing it.[11]

The withdrawal guide describes KYC plus enhanced due diligence, a 14-day cooling period for new users, and address verification for a new destination or one unused for more than seven days. It also describes network cost in the withdrawal breakdown. Limits are account-specific under Transaction Limits; do not treat an investment limit or a bank-withdrawal threshold as the crypto-out allowance.[10]

When an address-verification check rejects a transfer, the support instructions require contacting Mudrex to resolve the verification issue. Repeatedly submitting the same address does not satisfy the missing check. Preserve the rejection message and relevant wallet information for the ticket, without disclosing a seed phrase or private key.[18]

Mudrex’s custody help page names Binance institutional custody and describes hot, warm and cold-wallet arrangements. It also cites a shared US$100 million insurance arrangement and approximately US$1 billion in Binance’s SAFU resources. These are company descriptions of third-party arrangements, not a published US$100 million entitlement for each Mudrex customer. The inspected page does not establish a customer-specific insured limit, deductible or accepted-claim procedure.[21]

Its insolvency explanation says holdings are backed one-for-one, separately accounted for and not used for operating expenses, and states an intention to return customer funds. This is a company assurance rather than an independently verified insolvency waterfall. It does not establish how quickly a customer could recover assets, whether all liabilities are included in a reserve calculation, or which creditor priority a court would apply.[22]

The main terms require customers to be at least 18 and legally eligible in their jurisdiction. Indian residents contract with RPFAS Technologies Private Limited. The global website and group entities do not by themselves establish that a particular country’s resident can use every product, especially derivatives or euro services. This profile’s pricing and funding detail primarily concerns the Indian offering.[3]

The identity-verification guide asks for PAN and Aadhaar details. Complete the documented KYC flow using matching personal information before relying on funded-account functionality. The inspected document list does not establish a guaranteed review time or universal alternative-document route for every customer. Enhanced withdrawal checks can require more than initial identity verification.[23]

Mudrex describes investment limits as dependent on region and verification level. That help page does not provide one numerical cap that safely applies across all accounts. Read the limit assigned to the relevant account and product, and keep separate the minimum trade, maximum order, daily transfer allowance and available balance.[25]

Account deletion deserves special care. The published deletion terms say it is irreversible, prevent reuse of the same phone, email and KYC details for a new account, and require all balances to be withdrawn first. They also describe liquidating remaining investments to USDT and zeroing the wallet. This process is more consequential than simply leaving an account inactive.[19]

The public site provides a help centre and [email protected] and advertises continuous customer support. The service description is not a guaranteed response or resolution time. When escalating a transaction, identify the product, account currency, amount, time, displayed status and transaction reference so support can distinguish a bank, wallet or trading issue.[1]

For a stuck INR deposit, the official instructions specifically request a screenshot carrying a clear UTR after checking the debit. A banking receipt without that reference may be insufficient to trace it. The 24-hour guidance concerns a pending deposit; it should not replace the separate two-to-three-working-day guidance for delayed bank withdrawals.[20][16]

The API terms allocate responsibility for algorithms and credentials to the user and specify Indian law and Bengaluru courts. An API outage does not itself cancel a position or waive obligations already incurred. The inspected API materials do not promise a telephone dealing substitute during a platform outage.[34]

Mudrex’s compliance page identifies RPFAS Technologies Private Limited and gives FIU registration VA00031079. This profile attributes that number to the company because an independently current, firm-specific FIU entry was not established in the reviewed material. An anti-money-laundering registration should not be presented as government approval of token value, leverage or an investment return.[4]

The same page cites an Italian OAM entry and a Lithuanian company registration. Those disclosures do not establish a current EU cryptoasset-service-provider authorisation. The platform terms also use “Mudrex TR UAB Holdings”, while the compliance page uses “Mudrex TR Holdings UAB”. The spelling discrepancy and current permission scope need resolution before presenting a European entity as positively authorised.[4][3]

The company describes an early-2018 launch, a US-headquartered business with a Bengaluru base and more than three million users. These are company-scale statements inspected on 20 October 2026. They are not audited monthly active traders or a comparable spot-turnover measure; this research did not establish a reliably comparable current exchange-volume ranking.[2]

Mudrex INC is the Delaware platform owner and licensor. Indian customers contract with RPFAS; brand owner, customer counterparty and custodian are distinct roles.[3]

Operator

RPFAS Technologies Private Limited

Exchange model

Centralised

Service scope

India-focused spot, Coin Sets, hosted Web3 tokens and perpetual futures.

Client types

Retail clients; Institutional clients

Pricing publication

Public pricing

Pricing scope

Volume-based spot and futures fees; tax and product charges are separate.

Funding scope

INR banking and supported crypto networks; additional verification controls withdrawals.

Custody and asset handling

Hosted balances; company custody and insurance descriptions have material scope limits.

Client eligibility

Adult customers with required identity checks; this profile primarily covers India.

Support

Help centre, support tickets and [email protected].

Authorisation and registration scope

FIU and European registration claims are attributed; no current EU CASP permission was independently established.

Exchange metadata checked 20 Oct 2026Source 1Source 3Source 4

Referral rewards are assets subject to the stated KYC and withdrawal conditions, not unrestricted cash automatically available on registration. Confirm qualification, the eligible deposit window and the minimum transferable balance before treating a promotional asset as spendable funds.[29]

Revoking an API key stops that integration’s future access; the API terms preserve accrued obligations. It is not an instruction to liquidate every existing position. Before disconnecting a bot, reconcile open orders, positions and wallet transfers, and separately submit any desired cancellation or close instruction through an available authorised interface.[34]