Pionex is growing at a tremendous pace in the field of crypto automated trading. It is a commission-free platform providing intuitive tools and comes with in-built trading bots.
Pionex trading platform provides several crypto trading bots with top-notch security, and that too for free, making it so famous among crypto traders.
I will tell you more about Pionex with everything you need to know before starting your journey with this excellent platform for your profit goals.
Let’s start with some background information.
Pionex Review Introduction
Pionex exchange is the world’s first to offer free trading bots, founded in 2019 and Singapore-based. Their platform is available in more than 100 countries across the globe, with more than 300 coins and tokens listed on the platform.
Pionex trading bots offer a variety of services to enter the cryptocurrency market for more profit maximisation while trading in complete control and informed way.
Now that you know what Pionex is let’s dive deeper and understand the exchanges and coins available on the platform.
Pionex Supported Exchanges & Coins [ Spot & Leverage Coins & Trading Pairs]
Currently, Pionex supports Binance and Huobi as their exchanges as well, as all the coins supported by these exchanges are available on Pionex.
There are more than 250 coins currently available on Pionex to trade.
Let’s understand what unique features Pionex offer.
Pionex Review: Features & USPs
Pionex is loaded with tonnes of features that prove to be really helpful in overall trading and profit maximisation. Let me tell you about these fantastic features.
- Automated trading with 17 free crypto bots: The platform comes default with a wide selection of crypto trading bots which can be used to create a varied and profitable trading strategy. These trading bots are integrated into the platform and work seamlessly when creating an account. Even if you have no experience with automated trading tools, Pionex has covered you with simple operational bot services under their AI 2.0 GRID trading bot. They don’t require you to set complex parameters to make money. Based on 30-day backtesting, you can start automated trading with simple settings.
- Manual trading: With automated trading bots, you also can trade manually on the platform just like you trade on a regular crypto exchange. You can trade your coins against USDT using limit and market order.
- Wide variety of crypto assets: Pionex also comes with a broad range of coins and tokens, currently 346; more than 120 cryptocurrencies are currently supported on the platform. So, there is a high chance of your choice of the market being available on the platform.
- Leverage trading available: There is even leverage trading available on Pionex; you can use up to 3x leverage on selected coins like BTC, ETH, BNB, XRP, etc. Coins like ALGO, VET, etc., can be traded on up to 2x leverage.
- Learning material: There are step by step tutorials in layman’s terms to help beginners effectively use bots. Just click on the ‘Tutorial’ list present in the Support menu, and you can select the method you want to learn through. You can browse through their blog, video tutorial and FAQ section to get information or solve your queries.
- High liquidity: No doubt, Pionex provides innovative liquidity engines aggregated from the two reputed brands in the cryptosphere, Binance and Huobi. They are also one of the largest brokers of Binance and the most significant market makers of Huobi in the world; you shouldn’t have any doubt about its liquidity aspect.
- Pionex’s market maker program: You get hefty discounts on the maker fee by retaining an average trading volume of more than $300,000.
- Pionex app: It also comes with a mobile app available for both Android and iOS. Being seamlessly integrated with your device type Pionex app utilises much lesser space and is quite responsive and powerful. The mobile app comes with tonnes of features and resembles the same working as the web portal.
Now that you know about the unique features of Pionex let’s add to that and understand what order types Pionex provide that you can use to trade.
Pionex Review: Order Types
When it comes to ordering types, Pionex offers all the major ones on the table; they are:
- Limit Order: When you are imperative that you will not be buying or selling at an unfavourable price point, then you use a limit order.
- Market Order: If you want to buy an asset at the best available price in the current market. The market order is just the way to go; it ensures execution but does not guarantee that the trade will be executed at a specified price.
- GRID Order: It is a unique tool only supported on Pionex. It enables you to set lower and upper limits prices and the grid number. You can buy/sell in a specific price range in the batch.
Now, let me tell you how can you begin your trading journey at Pionex.
How To Get Started Started With Pionex
When you get your hands on something new, you read a manual to get things right; let me give you the manual on how to get started with Pionex the right way.
Follow these steps to register:
1. In the Sign-up window, enter the mobile number or email ID and a strong password. Then click on the ‘Sign-up’ button.
2. A verification code will be received on your email ID or phone number, depending on whether you registered through email or phone number and click ‘SIGN UP’.
3. You can opt for two-factor authentication on the pop-up window and click ‘Continue’. You will then be required to scan a QR code and verification code via the google authenticator mobile app if you opt for two-factor authentication.
4. You are then officially registered on the platform.
Follow these steps to deposit:
- After signing in, click on the ‘Deposit’ option from the Account menu on the left-hand side of the window.
- Click on the rectangular box below where the pre-selected ‘(digital asset) Address’ is written. Select the desired asset from the drop-down list to the left and click ‘COPY’ to copy the address.
- Now you will enter the withdrawal page of Binance or Huobi, depending on the asset you choose. Then select the coin/token from the drop-down list.
- After you choose the Fiat and Spot from the wallet of the respective exchanges, paste the address you copied in Pionex and select the asset.
- Finally, enter the amount, click ‘Submit’, and enter your password.
- Within two minutes after you do this, the asset will appear in your Pionex account.
Follow these steps to withdraw:
- Click ‘Withdraw’ from the account menu as you did to deposit after you signed in.
- Search the coin you want to be withdrawn and enter the address you wish to transfer to in the ‘Address’ box on the right. An address book is also provided that notes the addresses previously used.
- Enter the amount of the assets you want to transfer in the box below.
- Then click ‘Submit’ and enter your password, verification code as well as Google 2FA code if you’ve opted for one. Hence, completing the withdrawal.
Now, let us understand another great feature widely used on Pionex.
Pionex Buy Crypto Feature
There are many features available on Pionex as we went through; one of the major ones is its “Buy Crypto” feature. You will be working with it a lot in your trades; follow these steps to do it:
- Log in to the official website from the ‘Buy Crypto’ tab in the menu bar on top and select ‘Credit Card’. Simplex powers the payment gateway, so all your trades will be executed by Simplex.
- Before you purchase, you need to complete the Level 2 verification. After verification, choose the fiat currency to purchase on the ‘Purchase’ page.
- Currently, they offer USD, EUR, TWD, GBP, THB, CAD, NOK, KRW, IDR, MYR, VND, JPY, AUD, SEK, CHF, DKK, PLN, ZAR, HRK HUF, RSD, CZK, BGN, SAR, QAR, KWD, BHD, AED.
- Now, enter the amount; the minimum and maximum are different according to the fiat you choose.
- You’ll see the quotes on the bar of each service provider, choose the best one and check the box where it’s written ‘I have read and agree to the disclaimer’.
- Click ‘Purchase’, and you will now be directed to the payment gateway portal.
Now, let’s understand what the deposit methods available on Pionex are.
Pionex Deposit Methods
Pionex provides two ways through which you can deposit. They are:
- Using a card: The Pionex Lite app, available for Android and iOS, enables you to deposit using your debit or credit card. You can purchase cryptocurrency with the mobile app and transfer the crypto to the exchange.
- Cryptocurrency transfer: In this method, you can transfer cryptocurrencies from another exchange to your Pionex account.
Let’s understand the fee structure of Pionex.
Pionex Trading, Deposit & Withdrawal Fees
- Trading Fees
0.05%, no, it’s not a typo error. Pionex charges a very low trading fee of just 0.05% on each trade with no additional cost of using their trading bot services.
- Deposit Fees
Pionex doesn’t charge anything on cryptocurrency trading, whereas credit card usage in Europe charges a 3.5% fee and non-Europe 4.5%.
- Withdrawal Fees
When you withdraw cryptocurrency from Pionex, a flat fee is charged depending on the coin. I have provided a detailed fee list you can go through it:
Pionex does not accept withdrawals in fiat currencies.
Pionex Customer Support
The customer support infrastructure on Pionex is immensely appreciated by its users globally. Being dedicated and responsive, they are available for all your queries round the clock.
You can reach them on various platforms; they have a dedicated web portal just for the cause. Moreover, they are also available on Telegram, Discord and Twitter.
Pionex also has a carefully compiled FAQ section with almost all the queries and information. It also keeps on frequently updating, adding all the latest information.
Pionex is not behind on this aspect when it comes to security. They have a Money Services Business license by FinCEN, making it trustworthy for its users. They implement military-grade security measures to ensure that their user’s data is perfectly uncompromised.
There haven’t been any reports of security breaches or any other type of theft or anything else that could prove Pionex insecure in any way.
They also integrate API keys for crypto cash withdrawals and two-factor authentication options. So, you know Pionex has top-notch security features.
Pionex Pros & Cons
- Beginner-friendly: Pionex user interface is pretty clean and straightforward to use. The tutorial section helps beginners understand and gain knowledge regarding all the features and options present on the platform.
- Being beginner-friendly, it is also an excellent option for experienced traders and all the features and options for optimum trading.
- Affordability: Pionex charges very low trading fees compared to other crypto trading bot platforms. You might know this if you have used other platforms; compared to the 0.05% fee on Pionex, you cannot even think to compare them.
- Together with fees, Pionex also offers their automated bots for free; where will you get such a deal?
- No demo account: Pionex doesn’t provide a demo account on which you can experiment and learn. But there’s a catch.
- Pionex is currently offering a $1288 trial fund for free, which you can use to learn the basics of their platform and trade.
- No fiat deposit: As I told you earlier, Pionex lacks fiat deposits, which should be resolved.
You might be thinking, is Pionex a safe platform? Let me clear all your doubts.
Is Pionex Safe?
Crypto trading bot platforms like Pionex are pretty safe; these platforms allow you to integrate into other exchanges carrying minimal risk. Pionex doesn’t require you to store funds in their wallets but instead into those exchanges you choose to.
For example, when you trade with the Binance exchange, your funds are stored in the Binance exchange account. Therefore, the exchange’s security is what matters in the automated crypto trading environment.
Pionex is safe as it integrates with only the top-notch exchanges that take privacy and security seriously.
Can I trust Pionex?
Pionex is not a scam; it is a legitimate platform trusted by millions of users worldwide. With a trading volume of more than $5 Billion a month and daily trades of more than $100 million, you know these figures are not a joke.
Pionex is available in 100 countries currently and is continuously expanding. In addition to this, as I told you about how secure they are, there is no doubt to say that, yes, Pionex is a trustworthy platform.
Now, I will highlight the best bot on Pionex that you should surely try.
Which bot is best in Pionex?
I must say that all the bots on Pionex are carefully designed to aid automated trading on an enormous scale and are one of the best platforms out there.
But on a personal level, I am a great fan of GRID bots as they help place a series of purchase orders within a price range specified by me. They allow you to execute your trades in a more controlled way and come in handy.
I have tested GRID bots on various platforms, but Pionex’s GRID bots feature is easy to use and affordable. Pionex GRID bot creates a range of 10 grids after the bot is created.
GRID bots at Pionex are used in some of the other bots, so it is essential to get their hang. Pionex GRID bots are a game-changer, and I highly recommend beginners to get their hands on them.
Is Pionex MAS regulated? Let’s find out.
Is Pionex regulated by MAS?
Pionex is yet to receive authoritative licensing from the Monetary Authority of Singapore (MAS), but the exchange Huobi is regulated by MAS.
So, if you want an exchange to be regulated by MAS, then Pionex is a go-to option for you.
Is Pionex insured?
Pionex provides a 1,000,000 USDT insurance fund for all its users to test trading bots on the platform. Additionally, trades executed on the exchange of your choice are also backed by their insurance, giving you a double advantage.
Yet, giving you another reason to get your hands on Pionex, right?
Let us know go through the various types of bots available on Pionex.
Types of bots on Pionex
As I told you earlier, Pionex bots offer automated trading services for free; there are a total of 17 bots you can choose from; they are:
- Trailing Buy Bot
This automated trading bot adds to the position when the asset value declines. Further buying stops when the price reverses.
- Trailing Sell Bot
This bot places trailing stops on orders, limiting potential losses in case of sudden market fluctuations.
- Smart Trade Bot
Exploits market trends with low account risk by buying and selling with fixed or trailing stops.
- Grid Trading Bot
You can create grid trading bots to buy or sell orders within the set price ranges, securing small and stable profits from standard volatility.
- Reverse Grid Bot
This type increases holdings as coin prices fall. They are designed to sell coins when high prices are reached relative to the predetermined upper and lower limits.
Margin Grid Bot lets you Earn profits without using your crypto coins, lend some to other users, and earn additional capital by providing them funds for trading.
- Leveraged Grid Bot
Leveraged grid bot works by utilising the leverage with margin loans to multiply the results of the traditional grid bot, available with up to 3x leverage.
- Leveraged Reverse Grid Bot
It adds leverage to the standard reverse grid bot to amplify trading results and profit potential with the same leverage of up to 3x.
- Infinity Grids Bot
A more advanced profit release strategy similar to the grid bot that uses percentages and no upper range limit. Suitable for investors who speculate on a market rise.
- Time- Weighted Average Price (TWAP) Bot
Buys and sells large volumes of cryptos in smaller orders over a specified period, creating an averaged asset price.
- Dollar-Cost Averaging (DCA) Bot
Sets repeated purchasing at regular intervals to offset the effects of volatility.
- Spot Futures Arbitrage Bot
Pionex arbitrage bot is used for the futures markets, capitalising on market price differences between futures and spot prices. Targets APR returns of 15% to 50%. The Pionex SAFU compensation programmer is also implemented up to a limit of 50,000 USDT.
- Martingale Bot
It is an automatic cycle mode. Each time you purchase the dips and take profit, it will automatically enter the next round, with the settings specific to each round.
- Rebalancing Bot
When the coin’s price changes, the value of each coin deviates from the preset ratio, at which it is necessary to rebalance the assets to restore the proportion of each coin to its original state.
- BTC/ ETH Moon Bot
These use the Pionex grid trading bot technology. According to the present price, AI will recommend parameter settings depending on the hysterical data. When the currency price fluctuates within the price range of the BTC/ETH Moon, the bot will earn grid profit.
- Stop Limit Bot
The trigger and order prices are set in advance after the trigger and the order quantity. When the latest price reaches the trigger price, the bot will place the order at the preset order price.
On Pionex you can also create your trading bot with custom trading strategies, according to what function you want them to perform.
Pionex Review: Conclusion
Being using Pionex myself and after comparing it with other platforms as well, I must say Pionex so far is the best when it comes to automated trading. Together with being so affordable, the tools they provide are just incomparable.
They target both beginners and expert players with their vast availability of learning resources, tools and features. They are undoubtedly the best.
I strongly recommend trying this platform, and I am sure you will never look back!
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