Margin GRID Bot enables users to mortgage their currency so as to borrow another asset to run the grid. According to the vendor, the system can be used in many scenarios, so it’s not only appropriate for fluctuating markets but also for rising or downtrending markets.
Margin GRID Bot overview
This bot was created by Pionex, the company that is well-known among traders. Theit trading portfio amounts over 12 crypto trading bots and Margin GRID Bot is one of them. The system was released in October 2020. The website for Pionex was created in 2019, and, according to the whois.domaintools research, their IP address is Washington, Seattle.
Margin GRID Bot quick summary
Here are the key aspects of the bot:
- It features two modes. The first one locks your tokens to loan USDT, while the second one mortgages the USDT you hold to borrow tokens.
- Stop loss and take profit orders are used to manage trading risks and maximize earnings.
- The bot controls slippage through the creation of the order limit price.
- It performs a forced liquidation to regulate risk when the currency price falls to the estimated liquidation price.
Is it easy to use?
The Margin Grid Bot may not be easy to use, especially if you are not familiar with its strategy. The approach may appear complex for novice traders, so it can take them some time before they get a grip on how the system works.
Margin GRID Bot reputation
It is difficult to determine the reputation of this product. This is because the trading community hasn’t said anything about it yet.
What crypto exchanges are supported?
The tool supports the Pionex exchange. Pionex is one of the largest Binance brokers and one of the largest market makers of Huobi in the world.
You can acquire the software at zero cost. The Margin GRID Bot is one of the numerous free bots integrated into the Pionex exchange. So, once you sign up with Pionex, you are eligible to use it free of charge.
Security and price of Margin GRID Bot
The security of this bot is highly dependent upon its host—Pionex. Generally, this crypto exchange provides a safe trading environment that is compliant with both Federal and State laws and regulations in America. In fact, all the funds that you will use to trade on this bot are kept in Pionex, and therefore, your assets will be safe from theft so long as this exchange remains safe.
Are traders happy with the Margin GRID Bot?
This software does not have customer reviews. We could not find any comments relating to it on a trusted review site like Trustpilot. For this reason, we cannot gauge if there are traders using it and whether they are happy with it or not.
Profitability of Margin GRID Bot
Like many other trading instruments in the crypto world, Margin GRID Bot doesn’t guarantee you will earn a certain amount of profit while using it. The amount of revenue it will make will depend on various factors, including market sentiment, trader’s skills, crypto coins used, etc.
Deposits, withdrawals, and fees
The vendor does not say anything about the minimum deposit requirements as it relates to this bot. However, every trading pair may have a minimum capital requirement as far as order volume is concerned. Also, nothing is said about a withdrawal fee. Nonetheless, since the software will be interacting with Pionex, it is safe to assume that the fee will depend on the asset you will withdraw. Notably, creating the Margin GRID bot will attract some interest. The method of calculating the interest will be hinged on the daily interest rate in the current market.
Advantages of Margin GRID Bot
Integrates risk management features
The bot uses a stop loss to reduce the number of losses it makes and a take profit to ensure it optimizes the user’s income.
You won’t be asked to pay anything to obtain the software, as you can access it for free on Pionex.
The software is fairly safe since Pionex has taken the necessary measures to safeguard its tools and activities, mainly by adhering to American regulatory rules and laws.
Disadvantages of Margin GRID Bot
The real profitability rate is unknown
The profitability potential of this system cannot be determined, and you will only know the income it generates when you use it.