In This Article
Pionex is a cryptocurrency trading platform that offers a set of free trading bots. The service has pre-made trading algorithms. It is also possible to customise your own algorithms. Pionex is available in the web interface and mobile application. Let's take a look at the main features of the platform.
The main thing about Pionex
Pionex positions itself as a cryptocurrency exchange, this is not entirely true. The service operates as a cryptocurrency broker and aggregates liquidity with Binance and Huobi Global. However, Pionex is backed by large funds such as Gaorong Capital, Shunwei Capital and ZhenFund.
Regulation and Security
The team behind the Pionex Exchange is the BitUniverse team. Thanks to the size and reach of this company Pionex has been able to achieve regulation, giving all its clients the peace of mind knowing there’s oversight on the broker’s activities. Traders can rest easy knowing that Pionex is regulated in both Singapore and in the U.S. In April 2020, Pionex was granted the U.S. MSB (Money Services Business) License by the U.S. Treasury Departments Financial Crimes Enforcement Network (FinCEN).
Registration and verification
You can register for Pionex via the website or via the mobile app. Click the "Register" button and select the option - via phone or email. Then think up a password and confirm account creation using the code sent by SMS/email.
Asset Availability
Pionex is primarily recognized for its integrated automated trading bots; however, it also functions as a cryptocurrency exchange that enables users to execute manual buy and sell trades. As of now, Pionex supports 353 cryptocurrencies, paired with 7 base currencies including BTC, ETH, USDT, BNB, BUSD, HUSD, and USDC. In total, there are over 480 trading pairs available, providing traders and investors with ample opportunities to diversify their cryptocurrency portfolios.
Types of bots on Pionex
The platform supports many types of trading bots that allow you to fully automate trading. Examples of the main automation strategies:
Network trading. You can set a price corridor consisting of upper and lower price ranges. In this range, the price varies and if the price is low, the bot buys and if it is high, it sells.
Reverse Grid. The same mechanism, but focused on making money from the falling market. The setup parameters are exactly the same.
Leveraged grid. Useful in conditions of a growing trend. The mechanism is the same as the previous ones, but additionally leverage is set, which allows you to earn many times more if the market will go up.
Reverse grid with leverage.
DCA. Dollar cost averaging. A simple but effective strategy. Instead of investing the entire available amount at once, the trader divides the investment into several shares and invests gradually over a certain period. Pionex offers intervals of 10 minutes, 1 hour, 1 day, 1 week, 1 month. This is a good way to deal with market volatility.
Rebalancing. Focuses not on an individual position, but on the portfolio as a whole. The goal of such a robot is to balance different positions within the portfolio, buying and selling assets to maintain a certain level of allocation.
Margin Grid. Used by traders who want to trade long or short with leverage. The difference between a margin grid bot and a leveraged grid bot is collateral. This bot keeps the collateral and does not invest it.
Liquidity and Fees
There are no fees for cryptocurrency deposits.
Fees for card purchases - from 3%, depending on the payment service provider and selected currencies.
Merchant commissions:
Basic for spot 0.05 %
For leveraged tokens 0.1 %
For withdrawals - 0.0004 BTC for bitcoin, other cryptocurrencies also have their own individual fees.
User Education
Although in general the feedback about the service is positive, users note little information about the official registration of the project, its financial licences. Other traders complain that trading with bots does not bring any profit.
According to clients, the service is suitable for beginners, thanks to maximum automation and "two-click" setup. However, taking into account the possible risks, it is recommended to first obtain at least primary knowledge about trading to understand how it works, otherwise you can lose your money.
Conclusion
Pionex is not a bad option for automated cryptocurrency trading, partly because it includes all the necessary functions at once, eliminating the need to connect other exchanges via API. The service is characterised by very loyal commissions, which is again optimal for beginners. It is important that access to absolutely all trading bots is free of charge. But they will only work effectively if they are set up correctly. Each bot in the block has a detailed illustrated manual, and if something is unclear, you can consult in live chat.
FAQ
What is Pionex?
A platform for trading 340+ cryptocurrencies with tools for automation.
Can I connect other exchanges?
No, but liquidity is automatically taken from Binance and other major exchanges. Funds are stored and used only on Pionex.
What trading opportunities does the platform offer?
Spot market, derivatives, leveraged tokens.
Which bots are supported?
Standard grid and DCA + their variants ranging from reverse grid to TWAP. Over 15 in total.
What are the trading commissions?
0.05% for regular tokens, 0.1% for leveraged tokens.
How can I deposit or withdraw funds?
In cryptocurrency, card purchases are also available.
Is verification required?
At least 1 level - phone confirmation and indication of country of residence. The level with identity confirmation expands the limits and opens the possibility of purchasing from the card.
