Pionex Review [2024] | Crypto Trading Bots & Exchange | Pros, Cons

In this review, we will look at Pionex, a cryptocurrency exchange with built-in trading bots. In particular, we will overview the platform’s features to buy and trade, the functions of each trading bot, as well as its security, among other features. 

About Pionex

Pionex is the world’s first cryptocurrency exchange with built-in automated trading bots, first launched in 2019 and has since grown into an international crypto platform.

In total, traders have access to 16 free trading bots that are accessible for no additional fee and enable them to make use of the tools to automate their trading. 

As an established broker headquartered in Singapore with over 100,000 monthly active customers, Pionex handles $5 billion in trading volume every month.

Additionally, Pionex offers competitive trading fees and an innovative mobile app, making it a suitable solution for investors who trade in large volumes on the go. While automating your investment strategy using in-built trading bots, eliminates the need for you to monitor the market continually.

Users of Pionex can benefit from the following features:

1. Cryptocurrency trading: Over 100,000 monthly users entrust Pionex with their cryptocurrency trading by using the company’s free cloud-based bots.

2. 16 trading bots: Users may take advantage of up to 16 free built-in automatic crypto trading bots to meet their demands at any moment. All the trading bots are cloud based so you don’t need to leave your computer running 24/7.

3. Mobile application: The platform can help mobile investors who perform most of their trading while on the move. For cryptocurrency trading applications, Pionex provides an all-encompassing app has a user-friendly interface that’s straightforward to navigate, with commands and key functions easily accessible.

4. Competitive trading fee: Pionex offer a low 0.05% trading fee on all the major coin listings that can be found on Binance and Huobi.

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Why do crypto traders use Pionex?

Pionex offers manual trading via the use of crypto-to-crypto conversions, but its major offering is a variety of trading bots. 

It is possible to trade cryptocurrencies using a cryptocurrency trading bot, which is an automated software that executes buy and sell orders without the need for operator intervention when precise, pre-defined market conditions are fulfilled. 

On Pionex, it is entirely free to use the 16 various trading bots that are built into the exchange itself. Given that all of the in-built bots are cloud-based, users don’t have to leave their computers running around the clock. 

Whatsmore, you can use Pionex from any computer, laptop, or mobile device, making it easily accessible whether you decide to manually trade or auto trade the major coin listings that can be found on leading crypto exchanges Binance and Huobi. 

• The platforms offer both a desktop and a mobile experience with the app available to download on the Apple App Store and the Google Play Store, respectively;

• The firm is a regulated cryptocurrency exchange with over 100,000 monthly users and an impeccable track record when it comes to security;

• With Pionex, there is no cost to sign up, thus traders may begin using the service whenever they choose;

• Users can benefit from high-volume trading thanks to competitive trading fees and unique lower risk investment strategies;

• Investors with limited time to trade can benefit from leaving the trading aspect to a crypto bot to take responsibility.

Key Pionex products and features 

Generally, Pionex has three key core products which offer a number of advantages to its users.

1. Cryptocurrency trading platform;
2. Trading bots;
3. Mobile app.

1. Cryptocurrency trading platform

Pionex provides access to over 120 different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Shiba Inu (SHIB), and Dogecoin (DOGE). 

Customers can set up bots to trade them or simply purchase them on the market if they prefer to HODL.

On the trading screen, users will have access to an orderbook and transaction list on the top of choosing whether to use the Trading Bot or perform a Manual trade.

The platform is both comprehensive and easy to use, with major features such as those listed below:

• Customisable time filters;
• Fully customisable interface;
• Watchlists, favorites and live coin holdings;
• Several technical indicators, including Bollinger Bands, RSI, MACD and Price Oscillator;
• Live market cap;
• Manual buy/sell;
• Built-in live chat;
• TradingView charts.

Trade with USD

Installing the Pionex Lite application is required before you may trade in USD. The Pionex standard version is limited to the transfer of cryptocurrencies. 

2. Trading bots

• Grid trading bot

The Grid trading bot, which has a 0.05% fee, automatically purchases an asset when the price falls below a predetermined “low” point and sells an asset when the price rises above the user’s preset “high” point. By using this function, traders may take advantage of the market’s fluctuation and profit from it.

• Arbitrage Bot

When you use the spot future arbitrage bot, you may profit from price disparities between the current spot price of a crypto asset and the current price of it in the futures market powered by the Binance broker system. For a $50 deposit, this bot pledges to deliver a “return of 15-50% APR with extremely low risk.”

• DCA (dollar-cost averaging) bot

The DCA bot enables users to program a sequence of purchase orders to be executed at predetermined intervals. At each of your specified intervals, the bot will purchase at the current market price, rather than based on a predetermined price. Using this method, you can achieve better long-term average pricing. Intervals of 10 minutes, 1 hour, one day, one week, and one month are supported by Pionex.

• Trailing sell bot

This bot was created in order to cater to investors who have a tendency to sell too soon in a rising market. Using the trailing sell bot, you may define numerous target prices that will rise in value as the bot continues to operate. Every time one of your targets is attained, the bot will automatically sell a predetermined percentage of your remaining assets. This method also helps to reduce the amount of money that might be lost if the market unexpectedly reverses course.

• Martingale bot

For the purpose of capturing fluctuation profit, this bot buys DCA and sells it once to benefit from price volatility.

• Rebalancing bot

With the aid of this bot, you can ‘HODL’ your crypto more effectively.

• Leveraged Grid

Leveraged Grid Bot is a more complex trading technique based on the grid bot, as it employs leverage to multiply your investment and, therefore, your profits.

• Leveraged Reverse Grid

The Leveraged Reverse Grid is a technique that, on the basis of the Reverse Grid, leverages the principle in order to increase the revenue generated by the grid. It offers leverage choices ranging from 1.2X to 5X, and you may utilize the tools provided to increase your profits.

• Margin Grid

With the Margin Grid, you may mortgage your currency in exchange for borrowing another asset to operate the grid. It has a wide variety of application situations, making it suited for both fluctuating and unilateral markets.

• Reverse Grid

The reverse grid increases the number of tokens the bot keeps while simultaneously lowering the cost of maintaining the bot’s presence. 

When it comes to the reverse grid, the concept is quite similar to the principle of the grid. To accomplish arbitrage inside a certain price range, they all utilize the bot to buy cheap and sell high at the same time. The most significant distinction between them is that the unit of measurement for computing income is different.

• Dual Investment

Dual Investment is a structured saving instrument with a floating income that is not covered by the principle. The yield on the commodity is known and fixed at the time of purchase; however, the settlement currency is unknown and subject to change. 

When the product reaches maturity, the settlement currency is determined by comparing the settlement price to the pegged price at maturity. A variety of dual investment options are available, including Bitcoin-USDT Dual Investment and Bitcoin-USDT Dual Investment.

• Infinity Grid

With the Infinity Grid Bot, you’ll never have to be concerned about the price of a grid surpassing the price range you’ve set for it. 

When you “buy low and sell high,” the Infinity Grid Bot is there to support you every step of the way. It ensures that the total number of assets remains constant while the price of the assets continues to rise.

• Smart Trade

Smart Trade is a sophisticated trading bot available 24 hours a day, seven days a week. You may use it to plan to buy and sell at the same time with taking profit and stop-loss levels, which can assist you in gaining profit from an uptrend while avoiding the chance of suffering a large loss.

• Trailing Buy

Trailing Buy can help you buy as low as possible in a volatile market. The bot may be controlled by modifying its parameter settings, and when the currency price drops to a given low point and then rises by a certain percentage, it is advantageous to purchase it.

• Spot futures arbitrage bot

When you use the spot future arbitrage bot, you may profit from price disparities between the current spot price of a crypto asset and the current price of that cryptocurrency in the futures market. For as little as $50, you may get started with this bot, which seeks to deliver a return of 15-50% annualized rate of return with very minimal risk.

• Time-Weighted Average Price (TWAP) Bot 

The time-weighted average price algorithm also known as TWAP, is the simplest traditional algorithmic trading strategy.

The purpose of the TWAP bot is to provide a lower average transaction price while minimizing the impact of the transaction on the market, so as to achieve the purpose of reducing transaction costs.

Note: Pionex has provided further information on their website about bot tutorials to help you choose which trading bot is the best fit for you and your trading approach.

In addition to crypto trading bots with automated trading, manual trading between some of the most prominent cryptocurrencies is also supported by Pionex. The Smart Trade terminal enables traders to put up stop-loss, take-profit, and trailing stop-loss orders all in the same trade transaction. 

3. Pionex mobile app

Pionex’s mobile application replicates all of the capabilities available on the company’s desktop version. 

The user interface is straightforward enough that novice users will have no difficulty accessing the features, so users can even build up their own trading bot in as little as one minute using the provided instructions.

On top of bot functionality and manual trading, the following features will be available on the app:

Manual trading: If you prefer investing manually manual order placing is also supported by the Pionex app in a simple and uncomplicated manner. 

Cutting-edge mobile interface: Pionex’s desktop platform and mobile app have zero latency, so traders can always get up-to-date market data and pricing information, from any location via the mobile app.

Pionex trading fees and pricing

As part of its maker-taker fee structure, Pionex charges a fee for transactions that ‘make‘ liquidity on the market and when trades ‘take‘ liquidity away from the market.

For any transaction you make that is not promptly matched by an order on the books, you’ll be charged the maker fee. If you make a trade order that is instantly matched with an existing order, you will pay the taker fee. 

Both the maker and taker fees at Pionex are presently fixed at 0.05% of the total trade value. Upon the completion of your trade, your fee is deducted from the total remaining balance that was credited into your account.

Pionex’s maker-taker cost structure guarantees that your trades will be performed with only 0.05% in fees, regardless of your trading volume.

Note: To know more about the costs of trading on the platform read our in-depth guide on Pionex fees.

High volume trader

In the event that you are a high-volume trader, you may want to consider applying for Pionex’s Market Maker program. For your account to be eligible for the Market Maker program, you’ll need to make a deposit of at least $300,000 in USDT. 

Additionally, you may be eligible if you own the equivalent of $300,000 or more in another supported cryptocurrency coin or token such as Bitcoin. The Market Maker program entails no maker fees, so if you qualify, you’ll pay zero. Taker fees continue at 0.05% amount.

Applications for the Market Maker program may only be submitted within the first ten days of a given month. The program requires that you maintain a total account balance of $300,000 or more on a continuous basis after you have been approved.

If you are rejected from the program because your account balance is too low, you will be unable to apply to become a Market Maker member for at least 30 days after your disqualification.

Pionex security 

Pionex has been operating for more than two years, over 980 days without a security breach since its inception in 2019.

Whatsmore, Pionex has key security features such as deep aggregated liquidity, an MSB License, in addition to being backed by major market players.

• Fully licensed: In terms of security, Pionex has been issued by the U.S. FinCEN’s MSB (Money Services Business) License (MSB Registration Number: 31000188348895).

• Backed: Pionex has received investments from Gaorong Capital, Shunwei Capital, and ZhenFund totaling more than $10 million.

• Aggregated liquidity: Pionex aggregates the liquidity from cryptocurrency exchanges Binance and Huobi around the ticker price of the underlying asset. Pionex is both one of the largest brokers for Binance, as well as one of the biggest market makers for Huobi.

Watch the video: Is Pionex safe?

Note: To learn more about the platform’s security measures read our ‘Is Pionex Safe?’ guide.

How to create an account on Pionex (step-by-step)

Step 1: Head to https://www.pionex.com and click ‘Sign Up‘ in the top right-hand corner.

Step 2: Next, sign up either with your email or telephone number. In this example, we have signed up via email.

Step 3: You will be sent an email verification code to your email; once you receive the code, enter it and click ‘Confirm.’

Step 4: The verification is sent to your email address which you will need to add as mentioned above.

Step 5: Next, you can complete the know your customer (KYC) authentication or complete it later.

Step 6: If you click to verify you will be taken to complete KYC. If you click cancel, you will be taken straight to the desktop home screen; the whole process takes less than 2 minutes to complete.

Note: Before depositing and trading, you will need to complete KYC first.

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Deposit and Withdrawals on Pionex

Deposits

• Cryptocurrency is free to deposit on Pionex. However the exchange notes that it currently only supports several coins/tokens to deposit in the early version but that it will gradually include more in the future.

• Credit card (Europe): 3.5% fee.

• Credit card (non-Europe): 4.5% fee.

Withdrawals 

Pionex does not charge a fee if you withdraw your crypto into an internal address in Pionex. However, withdrawing cryptocurrencies from Pionex will result in a fixed fee that may vary based on the coin or token being withdrawn. 

To get a complete list of all the cryptocurrencies, as well as their withdrawal fees, visit this page. 

It’s worth mentioning that the provision of KYC information has the potential to enhance withdrawal limitations.

Note: Pionex does not facilitate withdrawals in fiat.

Customer support

In order to contact Pionex’s customer support staff, you may choose from a number of different options.

Email: For further information, you can contact Pionex’s staff through email: [email protected].

By live chat: To contact Pionex’s customer support department, go to the broker’s home page and choose the “Support” option from the tab. Next, click on the “Live chat” icon that appears on the screen. A pop-up window will open on your screen, allowing you to live chat with a person directly.

The Pionex team have social media channels that can be used to find out information on:

• Telegram;
• Discord;
• Twitter;
• Facebook;
• Line.

There is also a live chat feature open Monday — Sunday from 08:00 to 21:30 (Asia/Taipei).

Pionex pros and cons

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Final thoughts

Overall, Pionex offers a variety of advantages to its customers, including extremely competitive fees, access to 16 free trading bots, and an all-in-one mobile app that allows investors to trade while on the move while also making use of the exchange’s unique features.

Additionally, when considering Pionex’s increasing user base and its MSB license with FinCEN in the United States, one of the most stringent and recognized regulatory markets in the world, customers can feel secure using the platform.

Not to mention that it is backed by large-scale investors to the tune of $10 million and maintains its funds on two of the most well-known exchanges in the cryptocurrency world. 

As a consequence, consumers are left with an intuitive user interface (UI) to expedite transactions while also benefiting from competitive costs and the assistance of a selection of free cryptocurrency trading bots.

Pionex Review 2024 | FAQs

Are Pionex crypto bots free to use?

Yes, the 16 automated crypto trading bots available on the exchange are entirely free to use. Additionally, they are also cloud-based so you don’t need to leave your device on in order for them to work behind the scenes.

Is Pionex safe?

Pionex is able to take advantage of the high degree of security offered by exchanges like Binance and Huobi by keeping its funds on their platforms. It has also been granted a Money Services Business (MSB) license by the Financial Crimes Enforcement Network (FinCEN) and has gone over 900 days since its inception without any security breaches.

What are the trading fees on Pionex?

Traders will find Pionex to be a good low-fee choice since its trading fees are incredibly competitive at only 0.05%, and there is no minimum transaction volume requirement. Rather than having to worry about every trade taking a bite out of your earnings, you can just sit back and let the bots do their thing.

Can I use the Pionex trading bots on my mobile?

Both the Google Play Store and the Apple Store provide Pionex mobile applications for Android and iOS devices. It’s possible to trade manually or set up your bots at any time and from any location, thanks to this flexibility.