Pionex is a crypto trading bot that claims to make money 24/7 without any effort from the trader’s end. As per the vendor’s claims, you don’t need to monitor the volatile crypto market while trading with this robot.
Unfortunately, we don’t have any information on the parent company behind this robot. We don’t know when it was founded or where it is based. The vendor has not revealed the identities of the developers, so we don’t know whether they have the required experience to build a robust crypto trading system.
Pionex quick summary
Let’s look at the key aspects of this system:
- Fully-automated trading system
- Allows traders to buy the price dips
- High trading volume
- Large community of active users
- Low minimum investment
What does Pionex offer?
There are 12 different trading bots on this platform. These bots use various strategies like Grid, Margin Grid, Reverse Grid, Leveraged Grid, DCA, Infinity Grid, Arbitrage, etc. You can get started with a deposit of less than $100. The minimum amount is based on the trading strategy and the crypto token you are investing in. For some of the bots, you can even get started with less than $20.
The Grid bot opens an entire grid of short and long orders. Provided the price lies within a certain range, it can generate profits by buying low and selling high. While trading, you can use a stop loss to make the bot cease trading activities. You can set the limit price way lower for the asset to be sold instantly.
There are several reviews for this trading platform all over the web. Thus, it is clear that Pionex has a decent reputation and many people trust this brand when it comes to trading in crypto.
What crypto exchanges are supported?
There are only two exchanges supported by this bot:
You don’t need to pay a hefty one-time fee for using this trading bot. It can be downloaded for free from the website. You have to subscribe using your email before you can download the bot.
Security and privacy of Pionex
This platform aggregates liquidity from top exchanges like Huobi and Binance near the ticker price. It is one of the major brokers of Binance and one of the largest market makers of Huobi. Major companies like ZhenFund, Shunwei Capital, and Gaorong Capital have invested in the platform for over $10,000,000. It has a Money Service Business license from FinCEN. The platform maintains a reserve, so you can withdraw your funds whenever you wish.
Are traders happy with Pionex?
On the Trustpilot website, Pionex has a decent rating of 3.7 out of 5 based on 152 reviews. Users have praised the risk management functionalities of this system. They have also expressed their satisfaction with the low trading fees. However, there have been some complaints about the withdrawal process.
Profitability of Pionex
The profitability depends mainly on the market conditions and your trading style. However, the grid bot can help you recover some of the losses suffered due to price drops.
Deposits, withdrawals and fees
The maker and taker fees for this platform are both fixed at 0.05%. For each coin, there is a minimum withdrawal amount, maximum daily withdrawal, and withdrawal fee. Users who complete the KYC process get higher maximum daily withdrawal limits.
Advantages of Pionex
Here are the advantages of this platform:
This trading bot has active communities on Discord and Telegram. If you are in need of help, you can reach out to other users.
Low transaction fees
This platform has low maker and taker fees. This makes it ideal for new and inexperienced users.
You can download the software program for free. There are no monthly subscription plans.
Disadvantages of Pionex
Let’s take a look at the disadvantages:
No support for fiat currencies
You can only use crypto coins to buy other coins. It is not possible to purchase coins using fiat currencies.
No custom strategies
You must choose from the list of available strategies. The platform does not support custom strategies.