Pionex Crypto Automated Exchange Review, Rating and Analysis
What is Pionex? Pionex is the first ever crypto exchange that provides integrated trading bots free of cost, around the world. Pionex was launched in the year 2019 and has been one of the most rapidly growing crypto platforms, especially in Asia, with over $30 million USD in trade volume on a daily basis. The platform claims to have more than 100,000 users, backed by a team of over 100 experts including the founder and CEO.
Pionex provides multiple crypto trading bots, more specifically, twelve different trading bots that operate on several algorithms and targeting varying market conditions.
What we are going to learn?
About Pionex Company
The company has obtained a USA Money Services Business license (MSB) with a Monetary Authority of Singapore (MAS) license that is currently pending. Liquidity engines for the platform stem from Binance as well as Huobi Global, which ensures that the trading bots can match orders and run throughout the day. Pionex is backed by BitUniverse. Significant and well known venture capital firms based out of China such as ZhenFund and Gaorong Capital have invested in Pionex as well.
How to get started on Pionex Trading Bot?
- Visit the official Pionex website or download the mobile app, choose the ‘Sign Up’ option.
- Fill in the required basic details.
- A phone number or a valid email address is required for a verification. A verification code will be sent to the chosen mode.
- KYC procedures on Pionex is optional. However, it is recommended to complete the KYC process for more benefits such as higher withdraw limits.
- If the user has a referral code from an existing user of the platform, they can enter the code to avail benefits including earning rewards.
Key Features of Pionex Trading Bot + Exchange
There’s a lot of feature available on Pionex crypto trading bot. Let us have a look.
- Pionex Trading Platform
- Pionex Automated Trading bots
- Pionex Trading Platform: Good or Bad?
- GRID Bot (Grid Trading Bot)
- Spot Futures Arbitrage Bot
- Infinity Grids Bot
- Leveraged Grid Bot
- Margin Grid Bot
- Reverse Grid Bot
First let us have a look at the Pionex trading app.
The Pionex trading platform is web based. The features of the trading platform are:
- Ranking of the coins
- Live market cap
- Manual buy or sell
- Built-in live chat
- TradingView charts
- Light mode and dark mode
- Custom time filters
- Full trading order history
- Custom trading interface
- Watch lists, favourites and live coin holdings
- Several technical indicators such as Bollinger Bands, RSI, MACD and Price Oscillator
Pionex Automated Trading bots: Worth a shot?
Now let us look at the features of the Pionex Automated Trading bots to decide if it is worth a shot.
GRID Bot (Grid Trading Bot)
The GRID Bot is the original trading bot released by Pionex which benefits from regular and normal fluctuations in the market. Users are required to set a range for the bot and it will help the user to “buy low and sell high” within that specified range.
Spot Futures Arbitrage Bot
There are greater chances for users to profit from arbitrage trades that monetize on the difference between the values in the futures market and the spot price of the particular crypto. The Spot Futures Arbitrage Bot generates earnings of 15-50% APR and the user will receive the funding fee after every 8 hours, with an arbitrage strategy of very low risk.
Infinity Grids Bot
This is similar to the Grid bot. The Infinity Grid bot aids the user all the time to “buy low and sell high” , however, there is no upper range limit and the size of the funds is smaller when compared to the GRID Bot.
Leveraged Grid Bot: This bot serves as c combination of the GRID Bot and margin loans . The Leveraged Grid Bot enhances the results the user would receive from the original GRID Bot. The available ranges of leverage are 1.2x, 1.5x, 2x and 3x, which increases the potential profits and the bot trades 24×7, round the clock.
Margin Grid Bot : The Margin Grid Bot allows users to lend their BTC or USDT holdings, and earn additional yield as well as simultaneously profit from the original GRID Bot strategy. Users can also choose either long or short while using this bot.
Reverse Grid Bot: The Reverse Grid Bot is employed to increase the value of the user’s holdings when the price falls. It will sell coins when price reaches highs, and then repurchases the crypto asset at a lower price. It is complementary to the GRID bot strategy which aims to increase the user’s total coin holdings.
Leveraged Reverse Grid Bot: The Leveraged Reverse Grid Bot functions functions the same as the Reverse Grid Bot for most of the part, however the bot increases leverage to super-charge the results attained during trading. Users can choose from ranges of 1.2x, 1.5x, 2x and 3x leverage to enhance their trading results.
Smart Trade Bot: The Smart Trade Bot will aid in on-boarding users on to market trends and accumulate their profits without exposing their account to unnecessary risks. It combines buying as well as selling concurrently with fixed or trailing stops to restrain the market risk.
Trailing Sell Bot: This bots helps the user to prevent selling their assets ahead of time,in a pumping market. The Trailing Sell Bot allows users to place a trailing stop on their orders, limiting the potential losses if there is a sudden reverse in the market.
Trailing Buy Bot: The Trailing Buy Bot is considered the best bot “to buy the dip”. It will add continuously to the trader’s position as the price falls, and then stop buying, once a certain bottom is reached and, the price gets back up and starts heading higher.
DCA Bot (Dollar-cost averaging)
The Dollar-Cost Averaging Bot allows users to set a recurring buy at specific intervals. The purchases made are based on the time instead of the price, which gives the trader a better average price over a period of time. Pionex lets the user opt for one of the following time intervals for their DCA strategy: 10 minutes, 1 hour, 1 day, 1 week and 1 month.
The TWAP Bot is an excellent method used to buy or sell huge quantities of crypto without influencing the market price. Whales make use of this strategy, often, when they are loading or unloading their respective bags. Simply put, the TWAP Bot is a way to execute one large order in the form of several smaller orders over a stipulated period of time.
Pionex is Mobile based app or Desktop? Let’s Find out
Pionex trading platform is available on the web and as a mobile app supported by Android and iOS.
The platform uses the mobile-first rule, any new features and updates are released, first on the mobile app prior to the update of the web-based app.
Pionex Fees: How much do Pionex deduct as fees?
The trading bots are offered free of cost and simultaneously enjoys
Pionex is a market maker for Binance as well as Huobi Global and thus, it benefits from the very low trading fees from the two exchanges. The trading fees charge on the transactions is only 0.05% on all transactions. And still provide traders with free trading bots while enjoying the immense liquidity from Binance and Huobi.
The withdrawal fees varies on the coin. To find out more, click here.
Pionex Security: How Secure is Pionex exchange platform?
The team behind the platform is the BitUniverse team. BitUniverse is an all-in-one crypto auto-portfolio and trading bot app which is extremely popular, majorly in countries such as South Korea, Indonesia, and Taiwan.
Pionex is regulated in Singapore as well as the US. It was also licensed with the U.S MSB (Money Services Business) License by the U.S. Treasury Departments Financial Crimes Enforcement Network (FinCEN), in early 2020. Pionex is the first ever crypto exchange which offers integrated trading bots that has been granted the license.
Pionex Customer Support:
Pionex offers several methods for users to reach their support team.
- Via email: [email protected].
- Via live chat: To reach Pionex’s team through customer service, visit the official website’s homepage for the broker and tap on the tab labeled as “Support.” Then, tap on the button called as “Live chat.” A chat box will popup where the user can interact with the platform’s representative.
Pionex has not specified the customer support operating hours on the website website. However, it has been noticed they are not available 24/7, as users have reported that the customer service team’s status is offline early during the day. Users can contact the platform through their Telegram account.
For general queries, the platform offers tutorials its official YouTube channel. Phone chat or a contact number is unavailable.
Users can also check the Pionex blog for detailed guides regarding the trading bots, news and any alerts. A FAQ section provided by Zendesk is another useful, educational resource.
Pros of Pionex Crypto Trading Exchange+Bot
- The trading fees levied on transactions is very low and thus, attractive.
- Pionex offers a wide range of 12 trading bots, free of cost.
- A user friendly and easy to navigate platform, on web as well as on the mobile app.
- It is regulated to a certain extent, and has been recognized as a MSB by FinCEN.
- The platform is suitable for traders at all levels.
- There is no monthly fee.
Cons of Pionex Trading Exchange
- Users cannot transfer funds in the form of fiat to their account.
Pionex Crypto Trading Bot & Exchange Review: My personal thoughts
Pionex promoted itself with the tagline of “Users keep the profits, we take the loss” , this oozing confidence in themselves has appealed to users ever since, and continues to attract new users. It is a great platform for experiencing automated bot trading, free of cost with surprisingly low trading fees, what’s not to like. For anyone who wants to start their journey with crypto trading bots, Pionex is a good choice. Let us know in the comments if you ever used Pionex trading bot and how has been your experience.