The Leveraged GRID Bot is part of the numerous trading tools integrated into the Pionex trading exchange to ease trading for users. At the moment, a few trading pairs like BTC and ETH support this bot. You can use up to 5X leverage with these instruments. The other currencies can support up to 3X leverage.
Leveraged GRID Bot overview
The Leveraged GRID Bot was created by the same team that created the Pionex crypto exchange. Unfortunately, the founder or the team members are not introduced to the public. Pionex came into being around 2019, but it is not clear whether this trading tool was integrated into the exchange then or much later.
Leveraged GRID Bot quick summary
Find the key aspects of the bot below:
- It has a stop loss that automatically closes orders when the currency price drops to this price.
- The bot applies a take profit that prompts it to automatically close orders when the currency price rises to this price.
- It features a slippage control to help users control the deviation of the initial open final transaction average price and the price at the time of placing the order within a particular percentage range.
Is it easy to use?
Leveraged Grid Bot is the more advanced version of the grid bot. As the name suggests, it is designed to help users leverage their investments. It uses a mechanism similar to the grid bot where upper and lower limits are used to set a price corridor and the number of grids the bot uses to place buy and sell orders is defined. The difference is that it uses parameter leverage that enables you to increase your investment. For instance, if you want to double your capital by choosing 2X leverage, the system will loan you the extra money from Pionex, which will attract some interest. The grid income is produced through the new capital, so you can earn 2 times the profit.
Leveraged GRID Bot reputation
The system is reputed for its unique strategy. Unlike the typical grid strategy that focuses on making profits from the rise and fall of the market price, we have learned that this bot uses leverage to augment your deposit. Even then, we don’t know what customers who have tried out this bot are saying about the strategy. None of them have reviewed it yet.
What crypto exchanges are supported?
This bot supports the Pionex exchange only.
The system is free. All that is required of you is to register an account with Pionex and access it for free to begin your trading journey.
Security and price of Leveraged GRID Bot
The Leveraged GRID Bot is not allowed to store your money and only interacts with Pionex through encrypted API keys. As a result, the vendor or hackers will be unable to access your funds.
Are traders happy with Leveraged GRID Bot?
We really don’t know. A search for customer reviews relating to this product on well-known sites like Trustpilot and Forex Peace Army yielded no results. This makes it impossible for us to determine how customers feel about the service.
Profitability of Leveraged GRID Bot
The bot is designed to use leverage to augment your investment and hence increase your income immensely. But at the same time, it is possible to lose your money and the amount borrowed if the market falls. Therefore, the profitability of the system is not guaranteed because some factors, like market conditions, that are beyond your control will affect the money earned.
Deposits, withdrawals, and fees
There is no info on the official website as to the minimum funds you need to have for the bot to begin trading. Any withdrawal can only be completed through the Pionex exchange, which is solely responsible for holding your assets. The trading fees charged are also dictated by Pionex. With that in mind, the exchange sets the fee at 0.05% of your total trade value. The money charged is normally used to cover the cost of transacting on the platform.
Advantages of Leveraged GRID Bot
Free to use
You don’t have to pay a dime to utilize the platform.
The bot conducts trades for you automatically after you set your desired parameters.
Other people cannot access your funds simply because the bot is not designed to keep funds for you. All assets that you need for trading can only be sourced from the Pionex exchange.
Disadvantages of Leveraged GRID Bot
Zero customer feedback
No customers have described their experiences with the bot, so it’s hard to determine if the strategy works efficiently in real life or not.
No demo account
There’s no demo account to help users test the product first before launching it to the real market.