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Pionex Fees & Limits Explained | 2022 Guide

Pionex Fees & Limits Explained / Guide
Jordan
Major
Updated: 30 May, 2022
8 mins read

In this guide, we will focus on Pionex fees, examining the cost incurred when using the cryptocurrency exchange and its 16-in built cloud-based crypto trading bots. In particular, the platforms, the pricing model, the high volume trader account, as well as the fees for depositing and withdrawing both fiat and cryptocurrency will be looked at.

About Pionex 

Pionex is a cryptocurrency exchange based in Singapore that was established in 2019, offering 16 free in-built automated crypto trading bots, allowing both beginner and experienced traders to trade around the clock.

In addition to simplifying the trading process, having a cryptocurrency exchange that has its own operational crypto trading automation technologies assists users in optimizing the execution of cryptocurrency deals. 

The burden that would otherwise need hours of laborious and monotonous work is offloaded and reduced to a few minutes of monitoring, if any, by effectively using the free cloud-based crypto bots.

Note: To learn more about the cryptocurrency exchange itself, including its 16 free in-built trading bots as well as its other features, please check out our in-depth Pionex review.


Crypto beginners’ corner:


Introduction to Pionex features

Pionex provides unskilled users with pre-built bots so that they may enter the market without having to go through the time-consuming process of creating their own bot first. 

Everyone has the ability to manually visit cryptocurrency exchanges in order to complete a transaction, but scanning the market on your own is by no means a simple undertaking. Trading cryptocurrency in person takes a significant amount of time and effort, as well as difficult calculations and predictions.

This is exactly why the vast majority of today’s cryptocurrency transaction is handled by automated systems, sometimes known as crypto bots. These need no work on the part of their human users other than the initial configuration, and they are available around the clock, seven days a week.

  • Built-in cryptocurrency trading bots – The exchange has 16 distinct automated crypto trading bots; 
  • Competitive Trading Fees – All bots are free, while exchange trading fees are fixed at 0.05% for the maker and taker; 
  • Regulated – Fully licensed and certified in both the United States and in Singapore by both necessary authorities and the community, it is a solid addition to the domain of any enthusiastic day trader; 
  • Liquidity – An innovative liquidity engine aggregates Binance and Huobi liquidity.

Pionex fees explained

The primary attraction of Pionex’s cryptocurrency trading bots is the fact that they are completely free. 

In addition, there are no monthly subscription fees, one-time expenditures, or hidden taxes that emerge from the shadows after a certain period of time. However, Pionex is a cryptocurrency exchange and thus makes money via transaction fees.

  • Maker-taker fee model: Pionex charges a fee for transactions that ‘make’ liquidity on the market, and another for trades that ‘take’ liquidity away from the market, as part of its maker-taker fee model;
  • Competitive fee: Currently, the maker and taker costs at Pionex are both set at 0.05% of the entire transaction value;
  • Fee deduction: Once the trade is fulfilled, your charge is removed from the total remaining amount that was deposited into your account.
Pionex spot market. Source: Pionex

Specifically, the maker fee will be paid for any transaction you complete that is not immediately matched by an order on the books; conversely, the taker fee will be charged for any transaction you do that is promptly matched with an existing order.

The platform’s maker-taker pricing structure ensures that your transactions will be completed with just 0.05% in fees, regardless of the number of trades you make.

Trading fees. Source: Pionex

Market Maker program

Consider applying to Pionex’s Market Maker program if you are a high-volume trader. To be eligible for the Market Maker program, your account must have a minimum USDT deposit of $300,000. 

  • The equivalent of $300,000 or more in another supported cryptocurrency such as Bitcoin will also make you eligible for the problem;
  • Market Maker has no maker fees, which means that if you qualify, you will pay nothing and the costs remain at 0.05%;
  • Market Maker applications may only be submitted during the first ten days of each month;
  • A total account balance of at least $300,000 must be maintained on a regular basis once you are approved.

Account depositing & withdrawal fees and limits 

Deposits 

Pionex supports cryptocurrency deposits and accepts over 40 different digital cryptocurrencies, including Bitcoin and Ethereum.

Nevertheless, the exchange states that it now only accepts a limited number of coins/tokens for deposit in the early edition but that it plans to progressively expand this number in the future version. 

  • Cryptocurrency: Depositing cryptocurrency on Pionex is completely free
  • Europe: The fee for using a credit card in Europe is 3.5%.
  • (Non-Europe): The fee for using a credit card outside of Europe is 4.5%.
Pionex deposit and withdrawals. Source: Pionex

The fact that Pionex does not have a minimum deposit requirement, nor do they have a balance level or a funding charge, means that you simply do not need any assets in your name in order to get started. 

It may take up to an hour for deposits to appear in your account after they have been submitted, although this is not unusual in the sector.

Withdrawals

If you withdraw your cryptocurrency into an internal address inside the exchange, Pionex will not charge you a fee. 

  • When you withdraw cryptocurrencies through Pionex, you will be charged a set fee, which may vary according to the cryptocurrency you are withdrawing.
  • It’s also important to note that the supply of KYC information has the potential to increase withdrawal restrictions.

Visit this page to get a comprehensive list of all cryptocurrencies, along with the costs associated with each withdrawal. 

Note: Pionex does not enable fiat withdrawals.

Pionex security

Pionex is completely regulated in both Singapore and the United States and has been granted an MSB license by the Financial Crimes Enforcement Network (FinCEN) of the United States (MSB Registration Number: 31000188348895), the same license that Binance, Huobi, and numerous leading exchanges have applied.

Among other things, the company has deep liquidity, strong financial support, and the ability to implement two-factor authentication by email, SMS, and Google Authenticator as part of its security features.

Not to mention Pionex has been operating safely for almost over 1,000 days.

Note: For further information regarding security on Pionex, read our in-depth ‘Is Pionex Safe?“‘ guide.

Final thoughts

Overall, Pionex distinguishes itself from the competition not only because of its 16 free automated crypto trading bot alternatives but also because of its straightforward and transparent pricing model.

Individuals and organizations may eventually benefit from the low fees available across over 40 cryptocurrencies, which are all handled safely and securely by the exchanges. To do this, the organization uses a maker-taker pricing mechanism to keep all prices low.

The fees on Pionex are among the most competitively priced on the market, allowing users to save money on trade while utilizing the crypto trading bots. The 16 distinct cloud-based various crypto bots available on the Pionex Exchange, are all free to use and can be selected to meet your trading style.

Finally, for both new and experienced users of automated trading bots, there is no need to pay the pricey membership fees for bot services.

FAQs about Pionex 

Are there any fees for depositing on Pionex?

When depositing cryptocurrency on Pionex, there are no costs. However, when depositing through a credit card in Europe, there is a 3.5% charge, and when depositing outside Europe, the fee is set at 4.5%.

Is Pionex safe?

Yes, Pionex has been operating safely for almost over 1,000 days. The exchange has an array of security features such as deep liquidity, strong financial backing, and the ability to implement two-factor authentication by email, SMS, and Google Authenticator. Not to mention that it is regulated by both in the US and Singapore.

What are the trading fees on Pionex?

Pionex’s trading costs are very affordable, with just 0.05% charged from each maker or taker transaction. Additionally, there is no minimum order volume requirement, making it a good choice for traders looking for a low-fee alternative.

Are the automated crypto bots free on Pionex?

On the Pionex Exchange, you may choose from 16 different cloud-based varied crypto bots, each of which is completely free to use and can be tailored to your trading style. Additionally, there is no need to pay the expensive membership fees for bot services as it’s completely free.

4 out of 5 (1 vote)

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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