A solution gaining popularity is automated trading, also known as “bot trading”. For those concerned about the complexity of trading bots, Pionex is here to help. In this Pionex review, we will show you everything you need to know about the trading platform which is specialized in crypto trading bots.
Although launched in 2019, Pionex has quickly made its mark by handling over $1.5 billion in daily trading volume.
Pionex provides you with the necessary tools to automate your crypto trading journey without having to code. So, if you’re ready to embrace the power of automated trading without the overwhelming complexity, let’s dive into the world of Pionex and discover how it can revolutionize your crypto trading experience.
Overall Thoughts on Pionex
Pionex stands out with its innovative use of crypto bots. These bots act as your trusty companions, automating trades and ensuring the smooth functioning of the exchange. You can activate trading bots on the futures markets but also spot markets, giving you different options to go with.
What makes Pionex particularly appealing, especially for newcomers to the world of crypto trading bots, is its cost-effectiveness. Setting up Pionex trading bots is absolutely free, and you gain access to all 16 of their powerful trading bots without spending a dime.
Each of the 16 bots comes with a detailed tutorial, guiding you through every step of the process. Whether you’re a beginner or a seasoned trader, these tutorials ensure that you have a solid understanding of how the bots work and how to maximize their potential. The most popular option is the Pionex grid trading bot. These grid trading bots can be set up without any code and they will help crypto traders automate their trading. Other popular options are the Pionex arbitrage bot and martingale bot.
One of the most enticing aspects of Pionex is its vast selection of cryptocurrencies. With over 120+ different digital currencies available, including popular ones like BTC, ETH, LTC, SOL, DOT, TRX, SHIB, and DOGE you can try out various in-built trading bots across multiple different assets.
With the Pionex mobile app, you can even monitor your trading robots’ performance on the go. The Pionex app is well-designed and user-friendly. The Pionex app even supports trading bot access to set up your new trading strategy where ever you are.
For advanced traders, Pionex also offers API key trading so you can deploy your custom bots or connect your trading terminals.
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Free Bots | ❌ There is no support for FIAT |
| ✅ 16 automated trading bots | ❌ New crypto users may find it overwhelming |
| ✅ Low trading fees of 0.05% | |
| ✅ 120+ supported cryptocurrencies | |
| ✅ Mobile apps for Android and iOS | |
| ✅ Live Chat and email customer support | |
| ✅ Leverage trading offered | |
| ✅ Tutorials for each trading bot | |
| ✅ Deep liquidity from Binance and Huobi aggregated |
Services Offered on Exchange
Pionex Supported Cryptos
At Pionex, you’ll find a treasure trove of assets to explore. With over 120 cryptocurrencies, including popular ones like Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin, and Shiba Inu, the possibilities are great.
However, it’s worth noting that when it comes to crypto/crypto trading pairs, the base currencies are limited to BTC, ETH, USDT, BNB, BUSD, and USDC.
While Pionex offers a diverse range of assets, it’s important to remember that it doesn’t support fiat trading. This means you won’t find options for trading fiat currencies like BTC/EUR or BTC/CAD.
Nonetheless, Pionex remains an exciting destination for crypto enthusiasts seeking a wide variety of cryptocurrencies to explore.
Aside from manual trading and automated trading, Pionex offers passive income products such as staking, easy earn, dual investments and more.
Pionex not only offers a web-based app but also provides Android and iOS versions for traders on the move. It’s like having a mini trading platform right in your pocket!
Pionex follows the mobile-first rule, which means that new features and updates are rolled out first on their mobile apps before the web-based app gets updated. This ensures that mobile users stay ahead of the game and enjoy the latest advancements in the platform.
But it’s not just about being up-to-date; Pionex’s mobile apps also boast an outstanding design that blends simplicity with intuitiveness. Navigating through the app is a breeze, even for beginners. With a friendly user interface and clear instructions, you’ll feel right at home.
What sets Pionex’s mobile apps apart is their user ratings. The iOS version, available on the Apple Store, is rated a stellar 4.8 stars out of 5, while the Android version on the Google Play Store garners an impressive 4.5 out of 5 stars. These ratings speak volumes about the app’s reliability, functionality, and overall user satisfaction.
Pionex is not your ordinary exchange. It takes pride in being the first platform to aggregate liquidity from two industry giants, Binance and Huobi Global. By combining the liquidity from these leading global exchanges, Pionex ensures that it can always match the orders needed to keep its bots performing at their best.
According to the CTO of Pionex, a remarkable 60% of the orders from both Binance and Huobi are aggregated and made available to Pionex bots and traders. While it’s not 100% due to the presence of fake orders, this significant liquidity infusion ensures that Pionex’s automated trading bots can perform their magic flawlessly.
Imagine the advantage of having access to such a substantial pool of liquidity. Pionex traders can execute trades swiftly and efficiently, without worrying about order matching or liquidity constraints. The Liquidity Aggregated Engine empowers traders to seize opportunities in the ever-fluctuating market with confidence.
Pionex Signup & KYC
Setting up your Pionex account is a breeze! Follow these simple steps to get started:
Level 1: Account Setup: Quick and Easy
Step 1: Visit the Pionex homepage and click on the “Sign Up” button located in the upper right corner.
Step 2: Enter your email address or phone number and choose a password for your account. Make sure to select a strong password to keep your account secure. 
Step 3: Verify your email by clicking on the link sent to your inbox. This step ensures that you have access to the email address provided.
Step 4: Level 1 KYC (Know Your Customer) verification is a straightforward process. Simply enter and verify your email address or mobile number. This step helps ensure the security of your account.
Congratulations! You have completed Level 1 verification and can now fund your account and start trading on Pionex. However, if you want to increase your withdrawal limits, you can proceed to Level 2 verification.
Level 2 Account Setup: Boosting Withdrawal Limits
For Level 2 verification, which usually takes about one day to be verified, follow these additional steps:
Step 5: Submit a photo of your identification document and a selfie. This step confirms your identity and provides an extra layer of security for your account.
Once you’ve provided the necessary documentation, sit back and relax as Pionex reviews your information. Within a day, you’ll receive verification confirmation, and you’ll enjoy increased withdrawal limits, giving you more flexibility and freedom in managing your funds.
Once Level 2 verification is complete, you can enjoy increased withdrawal limits and take full advantage of the features offered by Pionex.
Pionex Trading Features
Pionex offers a comprehensive futures market with up to 100x leverage, making Pionex a great option for professional traders. You can also access spot margin trading with 3-10x. If you want to trade from your phone, you can use the iOS and Android Pionex app. While manual trading is the most popular approach to navigating through the market, the Pionex trading platform puts its focus on automated trading bots.
The next section of our Pionex review will cover everything you need about automated trading in the crypto market.
Pionex Crypto Trading Bots
Pionex is the very first exchange dedicated exclusively to advanced, free trading bots. So let’s check out some of the popular bots that Pionex offers. Pionex offers a perfect automated crypto trading environment. Without having to code, you can set up trading bots based on your parameters. You can also try out built-in trading bots that execute already existing trading strategies.
Pionex also offers you a way to track strategy statistics and performances so you can optimize your Pionex trading bot.
Grid Trading Bot
The Pionex grid bot is the most popular trading bot on the platform. This powerful strategy thrives on market fluctuations, allowing you to set a range of grid bot data and automatically “buy low and sell high” within that region.
With the Pionex grid bot, you can take advantage of price movements and optimize your trading strategy without constant monitoring. It’s a tried and tested method that has gained popularity among traders. The Grid trading bot works best when an asset is ranging rather than trending. Furthermore, grid trading is relatively simple and is considered to be a low-risk strategy.
Infinity Grids Bot
While using the GRID Bot, you may miss out on potential profits when prices surge. Enter the Infinity Grids Bot. Similar to GRID Bot, it focuses on the “buy low and sell high” principle, but with an added twist.
Infinity Grids Bot removes the upper limit, allowing you to capitalize on continuous price movements 24/7. Although the allocated funds are relatively smaller compared to GRID Bot, it presents a unique opportunity for traders seeking a more flexible approach.
Leveraged Grid Bot
Imagine combining the GRID Bot with a crypto-loan feature. That’s precisely what the Leveraged Grid Bot offers. By utilizing leverage of up to 3x, you can potentially increase your profits while adhering to the same principles as GRID Bot.
However, it’s essential to tread carefully as leverage also introduces the risk of liquidation. Before diving in, make sure to thoroughly understand the associated risks and adjust your strategy accordingly.
Margin Grid Bot
Similar to the Leveraged Grid Bot, the Margin Grid Bot allows you to amplify your trading with leverage. However, the key distinction is that collateral is not directly linked to the Grid Bot itself.
With the Margin Grid Bot, you have the flexibility to choose between LONG and SHORT positions, enabling you to capitalize on market trends and make informed decisions.
DCA Bot
DCA stands for dollar cost averaging. With the DCA Bot, you can regularly invest the same dollar amount at predetermined intervals, regardless of the asset’s current price. Pionex offers various time intervals for the DCA strategy, allowing you to automate your investment process and reduce the impact of market volatility.
A dollar cost-averaging Bot provides a methodical approach to building your crypto portfolio over time, ensuring that you get the best average price. DCA bots are great for long-term investments. Instead of trying to purchase the exact bottom, you average your entries over a long period of time which is statistically giving better entries than waiting for the right moment.
Rebalancing Bot
This bot enables you to set rebalance conditions and leverage Pionex’s exchange rate changes between tokens. By doing so, you can optimize your portfolio allocation and take advantage of price fluctuations.
The Rebalancing Bot automates the process of selling overperforming assets and buying underperforming ones, ensuring that your portfolio stays aligned with your investment strategy.
Smart Trade Bot
This bot incorporates intelligent algorithms to execute trades based on market trends, indicators, and user-defined parameters.
Whether it’s executing stop-loss orders, trailing stops, or taking profit at specific targets, the Smart Trade Bot simplifies the trading process while maximizing your potential gains. Harness the power of automation and let the Smart Trade Bot work its magic.
TWAP Bot
Time Weighted Average Price, or TWAP Bots allows you to accumulate or sell your cryptocurrency bags over a specific period of time. By spreading out your trades, the TWAP Bot helps you avoid sudden price movements and minimizes market impact.
This bot is particularly useful when executing large orders and can help you achieve more favorable average prices.
PionexGPT
With the popularity of AI rising in 2023, Pionex integrated a prompt-to-bot option where you can type what type of trading bot you want to implement. You can also access the GPT Marketplace where you can try out the trading bot of other people based on their performance.
Pionex Fees
Trading Fees
When it comes to trading fees in the world of cryptocurrencies, Pionex has got your back with extremely low trading fees.
On the spot market, Pionex does not differentiate between maker and taker fees. With a spot trading fee of only 0.05%, Pionex offers some of the lowest fees as the industry standard for spot trading fees is 0.1%. The Pionex fees are even lower than on Binance and Huobi.
That’s pretty impressive when you compare it to other major exchanges like Binance, KuCoin, Huobi, and Coinbase. Coinbase trading fees are 6 times higher compared to Pionex. What’s even better is that Pionex doesn’t slap you with any additional fees for using their trading bots.
For futures trading, Pionex also offers low trading fees with 0.02% for makers and 0.05% for takers.
So not only do you get great value for money for trading crypto-to-crypto, but you can also tap into the power of automated bots without any extra charges.
Furthermore, Pionex offers fee discounts based on your 30-day trading volume. The more you trade on Pionex, the lower your fees will be. As Pionex trading bots are fully automated trading bots, they can work 24/7 to accumulate more trading volume and reduce your fees.
Deposit Fees
There are no crypto deposit fees on Pionex. That means you receive the exact amount that you send to your Pionex wallet. Additionally, there is no minimum deposit on Pionex.
Unfortunately, Pionex does not support deposits for any fiat currency.
Withdrawal Fees
For crypto withdrawals, the fees depend on the coin and the selected network. Some cheap withdrawal options are USDT or BUSD with the TRC20 or BEP20 network respectively.
Fiat currency withdrawals are not supported at Pionex.
Bot Fees
What we love about Pionex is that they offer free trading bots. That means you can set up your Pionex trading bot without having to pay anything.
Pionex Security
Pionex uses third-party digital asset wallet solution providers to safeguard customer assets, but it’s important to note that these providers won’t compensate for lost funds in the event of system failures.
While Pionex has never been hacked since its establishment in 2019, it’s crucial to remain vigilant and understand the risks involved. If the platform were ever compromised, funds left on the exchange might not be reimbursed.
Therefore, it’s wise to consider implementing additional security measures, such as enabling two-factor authentication and storing your assets in offline wallets for extra protection.
At Pionex, they prioritize the security of their users’ assets and strive to maintain a safe trading environment. However, it’s essential to stay informed and take proactive steps to safeguard your investments.
Pionex Customer Support
When it comes to customer support, Pionex sets a shining example of accountability and dedication to its clients. Need assistance? No problem! You have multiple options to reach out to them.
Drop them an email at service@pionex.com, connect with them on Telegram, or engage in a live chat through their website’s handy functionality located at the bottom-right corner.
But that’s not all. Pionex goes the extra mile to ensure you have all the information you need. Explore their FAQ section, where they cover various topics like stopping a trading bot, utilizing a crypto dust collector, insurance, and compensation.
This platform is not just about their services; they want you to be an active part of their trading community. So, reach out, ask questions, and discover the exceptional support that Pionex offers. They’ve got your back!
Conclusion
Pionex stands out from other crypto exchanges with its impressive features and user-friendly approach. Not only does it offer 16 free, automated crypto trading bot alternatives, but it also boasts a straightforward and transparent pricing model.
With over 120 cryptocurrencies available, individuals and organizations can benefit from the low fees facilitated by Pionex’s maker-taker pricing mechanism. The platform’s cost-effectiveness allows users to save money on trades while utilizing the power of a cryptocurrency trading bot. If you want to automate trading, Pionex is your best shot.
So, whether you’re a professional trader or just a beginner, Pionex provides a wide range of options to suit your trading style, all at competitive prices. For complete beginners, we recommend using the Pionex demo account option to practice manual trading or setting up your trading bot.
We hope that this Pionex review helped you make up your mind. If you want to learn more about the platform and crypto trading bots, you can check out our guide on how to set up a trading bot on Pionex.
FAQ
Does Pionex Have Demo Accounts?
Yes, they have a demo account option as well as free plans.
What Are Pionex Leveraged Tokens?
Essentially you leverage your existing funds to get more capital from the exchange. The investor uses the same to trade them.
Is Pionex good for beginners?
To trade automatically using bots, Pionex is the best choice. It is easy to use, with many useful tutorials available.
