Review of the Pionex 2022

Pionex is a cryptocurrency exchange that offers free trading bots that are integrated into the platform. It is not necessary to have any prior knowledge of automated trading or cryptocurrency trading; all you need to do is activate their bot tools to get started. This guide will cover how to use Pionex robots, what payment methods are offered, and how the cost structure for the exchange is organized. Along with the trading platform, asset range, and other aspects, we will investigate and evaluate the Pionex arbitrage bot and grid trading bot as well.

Pionex: What Is It?

Pionex is the first exchange in the world to offer free trading bots that are fully integrated. It is an automated trading environment for cryptocurrencies that was released in 2019 and has been one of the platforms in Asia with the quickest growth, with a daily transaction volume of over $30 million. Over one hundred thousand users, in addition to the company’s founder and current CEO, are currently being supported by the exchange’s team of more than one hundred specialists.

The company currently possesses a Money Services Business license (MSB) from the United States of America and is in the process of applying for a license from the Monetary Authority of Singapore (MAS). Because liquidity engines are combined from both Binance and Huobi Global, the bots are guaranteed to be able to fulfil orders and to operate continuously around the clock. BitUniverse is behind Pionex, and famous Chinese venture capital firms ZhenFund and Gaorong Capital have both made investments in the company. Pionex’s main backer is Gaorong Capital.

Why Do People Use Bots?

Trading in the markets for digital currencies can be automated through the use of crypto bots, which are collections of computer programs and algorithms. Data from the market is processed and analysed in accordance with a set of rules that has been established in advance in order to choose the most profitable chances and positions. Bots decrease the need for constant monitoring, which could otherwise be necessary for extended periods of time.

On the cryptocurrency market, the primary benefits of utilizing include the following:

• Trading devoid of emotion and based solely on data

• Lessen the likelihood of mistakes or holdups caused by humans

• To create virtual environments in which novel methods can be tested

• Function according to predetermined guidelines while focusing on maintaining consistency to achieve performance goals

• Trading and transactions that are completed much more quickly than individual investors could hope for

• Decrease the amount of human interaction required and the amount of time spent monitoring market movements 24/7

The Process Behind Pionex

Pionex is not just another cryptocurrency exchange because it gives users the ability to build fully automated trading methods that can be customised and are accompanied by free bots. It is no longer necessary to monitor the markets around the clock because API key trading has made it unnecessary, and Pionex now provides 12 free trading bots that are appropriate for both inexperienced and seasoned investors.

Because bots are typically difficult to set up and require knowledge of client programming and coding, the fact that there is no such requirement for Pionex bots presents a distinct advantage. You can also follow prominent investors’ bots by using a tool called copy trading.

An Explanation of Pionex Bots

A variety of the most advanced robots are at your disposal:

• Trailing Buy Bot: This bot will add to an existing position whenever the value of the asset drops. When the price starts to go down, buying comes to an end.

• Trailing Sell Bot – This automates the placement of trailing stops on orders, thereby minimising the risk of incurring losses in the event of rapid shifts in market conditions.

• Smart Trade Bot: Takes advantage of market movements while minimising the risk to your account by buying and selling with either fixed or trailing stops

• Grid Trading Bot buys and sells orders within specified price ranges, so insuring tiny and stable gains from the typical volatility of the market. Excellent for novices or those just starting off with automation

• If coin prices go down, your holdings will increase thanks to the Reverse Grid Bot. Designed to facilitate the sale of coins when prices reach high levels in comparison to predefined upper and lower limits

• Margin Grid Bot – This bot allows users to generate a profit without using crypto currencies by lending some of their coins to other Pionex users and earning additional cash to offer the funds for trading.

• Leveraged Grid Bot – This grid bot uses leverage in the form of margin loans to amplify the outcomes of the conventional grid bot. It is available with leverage rates of 1:1.2, 1:1.5, 1:2, and 1:3 respectively.

• Leveraged Reverse Grid Bot – This bot takes the normal reverse grid bot and adds leverage to it, which magnifies the trading outcomes and the possibility for profit. The available leverage ratios are 1:1.2, 1:1.5, 1:2, and 1:3.

• The Infinity Grid Bot is a more sophisticated profit release technique that is analogous to the grid bot and makes use of percentages. There is no upper range restriction with this strategy. Ideal for traders and investors who have confidence that the market will go up.

• Weighted Average Price Over a Given Time Period (TWAP) A bot is a computer programme that automatically buys and sells large amounts of cryptocurrency in a series of smaller transactions over the course of a predetermined time period. This generates an average asset price.

• Dollar-Cost Averaging (DCA) Bot is software that automates buying at defined intervals in order to hedge against the impacts of market volatility.

• Spot Futures Arbitrage Bot – An automated trading system designed specifically for the futures markets that seeks to profit on price disparities in the spot and futures markets. APR returns of 15% to 50% are planned for the investment. Up to a ceiling of 50,000 USDT, the Pionex SAFU compensation programme is also being implemented.

Find the right bot for you and your trading strategy by consulting the information provided in the Pionex bot tutorial, which can be found on their website.

Trading Platform provided by Pionex

Pionex offers a web-based proprietary trading platform that works with all of the major web browsers, such as Safari, Chrome, Firefox, and Internet Explorer. The interface is intuitive despite the platform’s high level of sophistication, and some of its important features are as follows:

• Coin ranking

• Live market cap

• Manual buy/sell

• Integrated support for live chat

• Charts available on TradingView

• Modes of light and darkness

• Time filters that can be personalized Access to your complete order history in trade

• Completely modifiable user interface

• Watchlists, favorite cryptocurrencies, and live coin holdings

• A number of different technical indicators, such as Bollinger Bands, RSI, MACD, and the Price Oscillator

Pionex Web Trader

Mobile App

The Pionex trading platform is primarily intended for usage on mobile devices, and there is a specialised programme that can be downloaded to Apple iOS and Google Android gadgets respectively. The application enables you to construct grid trading bots, DCA bots, and other types of bots regardless of where you are. For the purpose of maximising your prospective profits, you can use mobile and tablet devices to keep track of strategy statistics, receive news and notifications in real time, and take action to control price gaps. The software has a simple but straightforward interface, and its high number of favourable user ratings has propelled it to the top of the leaderboard in the app store.

Free Trial Account

Pionex does not provide its users with a demo account, which may be seen as a disadvantage when compared to other comparable exchangers such as Bitsgap and 3commas. Paper trading is an excellent method for gaining experience with a trading platform, testing trading techniques or bots, and investigating new markets without putting any real money at risk. In spite of this, there are a number of other significant cryptocurrency players, such as Kraken and BitUniverse, that do not offer the capability of a demo account.

Pricing

As a result of Pionex’s role as a market maker for Binance and Huobi Global, the company receives preferential trading fee terms from both exchanges. The pricing structure of the exchange is 0.05% per trade, which is competitive in comparison to the 0.1% that Binance and Kucoin charge per transaction and the 0.15% that Cryptohopper charges. Implementing the Pionex trading bots does not incur any additional costs on the user’s end.

Those who have a trading volume of at least 300,000 USDT are eligible to participate in the market maker programmes. The maker fees for customers are waived entirely, but the taker fees are held steady at 0.05%.

Payments

Deposits

Pionex is a cryptocurrency exchange that exclusively takes deposits in those cryptocurrencies, while it supports a total of forty different digital currencies, including Ethereum (ETH) and Bitcoin (BTC). Your wallet must never include any sort of fiat currency while you are using the platform. Stablecoins are also supported, and this gives users an excellent alternative for avoiding price volatility between exchanges and minimising the risk of having their account balance decrease. One example of a stablecoin is USDT.

Both Coinbase and Binance are recognised and regulated fiat gateways that provide services to customers all around the world. These services can be utilised to move assets into a Pionex account. In order to prevent the loss of assets, you should check that the deposit networks are compatible; the broker offers comprehensive online lessons that explain how to move assets through the various gateways.

Pionex does not demand a minimum deposit, has no minimum balance level requirement, and does not charge any funding fees. However, each trading pair does have a minimum investment order volume. After a deposit is made, it may take up to an hour for the funds to appear in your account.

Withdrawals

Only cryptocurrency can be withdrawn by customers, as is the case with deposits. In addition to quantity restrictions, there is a fee associated with withdrawals that varies depending on the coin. Providing your KYC details may, on the other hand, raise the limits placed on your withdrawals.

Pros Of Pionex

• Simple and intuitive smartphone application

• More than 40 different cryptocurrencies are accepted as financing coins

• A platform interface that is both customizable and easy to use

• A licence to operate as a Money Services Business (MSB) from the US FinCEN

• Twelve free integrated trading bots, with no need for coding or programming.

• Outstanding and cutting-edge liquidity engines compiled from Binance and Huobi.

• Low trading fees in comparison to other major exchanges, with a maker and taker charge of only 0.05%

Pionex’s Downfalls

• No demo account

• There is no listed phone number for contact.

• There are no possibilities to deposit or withdraw currency.

• There is a possibility that withdrawal fees and limits will apply.

Security

Pionex provides a safe trading environment for its customers by adhering to the security rules established by US government authorities. Additionally, the broker is in possession of investments totaling more than ten million dollars from prominent companies such as ZhenFund and Gaorong Capital.

The BitUniverse team is the driving force behind the Pionex exchange. BitUniverse is a well-established trading bot and portfolio that offers all-in-one solutions and has the largest market share in Taiwan, Indonesia, and South Korea. This shows that the security and accountability are of a credible kind.

Assistance to Customers

Pionex can be reached through the email address listed below, on Telegram, or through the website’s built-in live chat feature, which is located in the lower right-hand corner of the page.

• Email – service@pionex.com

On its website, Pionex also includes a Frequently Asked Questions (FAQ) section. This section covers a variety of topics, including unrealized profit, how to stop a trading bot, insurance and compensation, using a crypto dust collector, and what to do when there is not enough capital for investment or frozen quantity balances. Other possibilities for providing oneself with assistance are made available through social media platforms and the Discord community.

There is no phone number listed for Pionex on their website.

How to Register for an Account with Pionex

Clicking the “Sign Up” button on the website and filling out the accompanying online form are all that are required to establish a new account. The process takes very little time and is very straightforward. You are required to have either a phone number or an email address in order to receive a verification code. Additionally, although filling out KYC details is voluntary, you may choose to do so in order to boost the withdrawal limits. You can also earn prizes by include a referral code in your submission if you have one.

Pionex Verdict

Pionex is an innovative and rapidly expanding cryptocurrency exchange that provides users with access to a wide variety of trading bots that are not only easy to use but also highly sophisticated. These bots can be put into action even without prior knowledge or experience of coding, algorithmic trading, or crypto bots. Even though it is a new broker, a high level of security is provided, and there is an amazing level of financial backing, notably from two of the most important Chinese venture capital firms. Even though novice investors can use the automatic trading tools, potential customers are unable to test the broker without first having to risk their own money because the company does not offer a demo account or provide a telephone number for inquiries.

Countries That Are Allowed In

Pionex welcomes traders from the majority of countries, including the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, and Qatar, as well as Australia, Thailand, Canada, the United States of America, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, and most other countries.

Possible Substitutes for Pionex

If you are interested in finding other brokers to trade with besides Pionex, we have produced a list of the top 5 brokers that are comparable to Pionex and have included it below. This list of brokers that are similar to Pionex is organized by level of similarity and only contains businesses who are willing to work with traders based in your region.

1. Kraken – Kraken is a well-regarded cryptocurrency trading exchange that provides access to the most valuable tokens and altcoins according to market cap.

2. Uphold — the trading environment provided by Uphold is a one-stop shop for all of your cryptocurrency needs.

3. Bitfinex – Bitfinex is one of the top cryptocurrency exchanges for experienced investors because it provides a free mobile trading application and has cheap trading fees.

4. OKX – OKX is a digital exchange that enables users to trade on hundreds of cryptocurrencies through desktop and mobile applications at cheap commission rates.

5. Axi – Axi is a global online foreign exchange (FX) and contract for difference (CFD) trading company that is trusted by investors all over the world. It is common with novice and experienced traders alike due to the presence of highly leveraged trading opportunities and the absence of a required minimum investment.

FAQ

What exactly is Pionex Lite, and is it risk-free to use it?

Pionex Lite is a product that enables users to buy cryptocurrencies such as Bitcoin and Ethereum using US Dollars. It is a comprehensive solution that can convert US Dollars to Bitcoin as well as bots. Even novice buyers of digital money will have no trouble using this software because it is trustworthy, genuine, and simple to operate. Additionally, Google authenticator two-factor authentication can be configured.

What Exactly Is Involved With Pionex Leveraged Tokens?

Leveraged tokens issued by Pionex provide exposure to margin trading and come equipped with an optimized rebalancing mechanism. It does not keep a stable and constant rate, but rather maintains flexible goal leverage. Coin, leverage, and long/short are the three components that make up the names of the tokens, such as BTC3L.

What Does It Mean to Trade Pionex Smartly?

Pionex Smart Trade functions as a “swing catcher” around the clock. Setting up your buying and selling at the same time with taking profit and stop loss orders will help you boost your win rate while reducing the likelihood of incurring losses.

When I integrate a Pionex Grid Trading Bot, approximately how many grids will be produced?

Customers can generate returns in a fluctuating sideways market by using a Pionex Grid trading bot, for example using the BTC/USDT or XRP/USDT pairs. Once the bot has been created, it will divide a range that has been previously specified into ten grids.

What is the main difference between the geometric grids and the arithmetic grids in Pionex?

The Pionex Geometric and Arithmetic trading bots generate their grids in fundamentally different ways, which is one of the primary differences between the two. When compared to geometric, arithmetic maintains the same common difference between each grid, while geometric keeps the same common ratio between each grid.

Does Using Bots on Pionex Require USDT On My Part?

In order to trade a particular cryptocurrency after making a deposit into your Pionex account, you will first need to convert your coins to USDT. This is something that may be done through the trade website.

What exactly is the arbitrage strategy for Pionex Spot Futures Trades?

As part of the strategy, you will maintain a short position in the market for perpetual futures while maintaining a position of comparable size in the spot market. Arbitrage will determine the position that is market neutral and will use the financing rate once every eight hours.

I am in New York; is it possible to trade with the Pionex Arbitrage Bot?

Because Pionex customers are not restricted by location in any way, merchants from as far away as Malaysia and as close as Brazil are free to register a live trading account and begin using any of the available trading bots.