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Pionex

Exchange with crypto trading bots

Summary

Pionex is a cryptocurrency exchange with built-in trading bots. You can access 16 unique trading bots for no additional fee. These bots allow you to automate your investing strategy so you don't need to constantly monitor the market.

Headquarters: Singapore
Year founded: 2019
Website: https://www.pionex.com/

PROS

  • Low fees
  • Integrated trading bots
  • Mobile app available

CONS

  • No backtesting or paper trading available
  • Can't create custom bot strategies
  • Existing bot strategies don't have many configuration options

Supported Platforms

Web-based
Android
iPhone
iPad

Pricing:

Commission

Pionex Review

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Overview

Pionex is an international cryptocurrency platform that has grown over the years since it was first launched in 2019. It is one of the first crypto exchanges to offer free built-in automated trading bots. It also provides easy trading access through its mobile app.

With its large number of customers worldwide, Pionex handles almost 5 billion worth of trade volumes each passing month. It also aggregates the liquidity from the two biggest crypto exchanges, Binance and Houbi Global. Not to mention, it supports over 120 cryptocurrencies which its users love.

Aside from that, Pionex is regulated in both the US and Singapore to support its worldwide users. The main goal of this trading bot is to help traders grow their investments with their easy-in-build trading bots and their integrated exchange.

Features

Pionex offers access to 16 unique trading bots. These bots allow you to automate your trading without constantly monitoring the market. 

Grid Trading Bot

The grid trading bot automatically trades your assets when the prices rise and fall. It will automatically sell an asset if its price increases to above your preset high point or purchase an asset if its price falls below the pre-determined low point.

You will set the pre-high and low price points for the bot and adjust the number of grids you want. The bot will then operate within these set price ranges selling an asset when the price goes above the price range and buying when it goes below.

The grid trading bot enables users to gain a passive yet stable profit within a volatile crypto market. It is a low-risk way to make constant small profits without the pain point of emotional decisions.

Pionex allows you to choose the “Set Myself” and “Use AI Strategy” options from the grid trading bot. When you choose the “Use AI Strategy”, it will suggest parameters calculated from the past seven days of backtesting. But if you choose “Set Myself” you must input the parameters yourself. The parameters to put into place are:

Number of grids
Lower and upper price limits
Total investment range
Trigger price
Take profit price
Stop loss price

The Pionex grid trading bot has a 0.05% trading fee which is pretty low.

Dollar cost averaging bot

Dollar Cost Averaging (DCA) bot offers simple trading strategies that give the trader better returns than manual investing. The DCA bot allows you to buy the same dollar amount of investment within specified and regular intervals. The purchases are programmed to automatically occur at precise times ranging from 10 minutes, 1 hour, a day, a week, or a month. All these time intervals are supported on the Pionex platform.

The platform allows you to choose a preferred interval for the DCA bot to operate. Once you fill in the parameters required for DCA, the bot will calculate the required investment per week and list it. The weekly investment is the minimum needed to jump-start your DCA trading strategy.

Arbitrage bot

The arbitrage bot only trades in ETH. The bot buys ETH in the spot market and sells ETH of the same value in the future market. Using this bot allows you to profit, with minimal risk, off the token funding fee because of the hedging mechanism. That means that the trader profits from the price disparity between the current spot price of the cryptocurrency and its current price in the futures market. It is an appealing bot to use because of its very low risk.

The spot and futures arbitrage bot offers a strategy exploiting the funding fee and gap. It is a neutral strategy with very low risk.

Trailing selling/buying bot

This bot helps traders who trade too soon and later regret when they sell or buy too soon and as a result, go into losses. Pionex offers this bot to help traders buy as low and high as possible in a volatile environment.

The platform offers two trailing bots: Trailing sell and trailing buy bots. These bots help traders chase prices and buy bottoms in a fluctuating market so that you do not have to worry that the price is not too low or high. Plus, this bot helps reduce the amount of money traders lose when the market reverses suddenly.

Rebalancing bot

The Pionex rebalancing bot helps traders hold on to assets that they have been optimistic about for a long time. This bot can rebalance in the dual-coin mode and multi-coin mode. In the dual coin mode, the trader can allocate two coins simultaneously, and it is best to choose mainstream coins like ETH and BTC. Once the coins are selected, the amount of funds to be invested start off the bot. And in the multi-coin mode, a trader can allocate over 10 coins. Industry experts and leaders recommend the indexes used in the Pionex rebalancing bot.

Martingale bot

This bot follows the traditional martingale strategy, which stipulates that if you fail in one round of a game, you should double the next round. In the same way, the martingale bot is designed to use more funds on each dip to reduce the overall average holding cost.

The bot calculates and evenly divides investments into multiple shares according to the parameters set up. To benefit from this bot, you need to choose coins with good liquidity so that they do not reach zero in the long term. This will allow the bot to make the best possible profits.

As long as the coins are good, they will become profitable after the price rebounds even if they experience a short-term drawdown. That is why it is critical to choose good coins.

Leveraged grid bot

This advanced trading bot bases its strategy on the grid bot. It amplifies the investment and income by using leverage. If the price is higher than the interval’s upper price range, the bot won’t execute orders outside the grid interval. If the price is lower than the interval’s lower price, the bot also won’t execute orders outside the grid interval.

But when the asset price reaches the trigger price, it triggers the bot order to be created.

Leveraged reserve grid bot

This bot benefits from a falling market so that the trader accumulates more assets while the price drops. It amplifies the grid income through leverage on the reverse grid basis. The bot has choices from 1.2 times to five times which enables it to increase profits.

Reverse grid bot

To use this bot, the trader must select a trading pair and the reverse grid. They also need to set upper and lower limits for the price range, number of grids, and amount of investment.

The margin grid bot

This bot allows the trader to mortgage their currency and borrow another asset. The margin grid bot is useful in many scenarios, including being suitable for rising and downtrends and market fluctuations. For example, a trader can mortgage their ETH to borrow USDT to run the grid and make money.

Infinity bot

This Pionex bot doesn’t have an upper limit. When using this bot, the trader doesn’t have to worry about the price exceeding an upper price range. It allows you to buy low and sell high while keeping the total amount the same even as the price increases.

The infinity bot is supposed to be a trader’s support system. Unlike the standard grid bot, the infinity grid bot doesn’t require number parameters because it uses percentages.

Dual investment bot

Pionex dual investment features to beta and manual mode. Its manual mode is a floating, structured savings product that is non-principal protected. The yield from dual investment is usually fixed at the time of purchase, while the settlement currency is subject to change and is unknown.

Smart trade bot

The smart trade bot is available 24/7/365, so traders can use it to plan the selling and buying of an asset. This bot features three components: Buy-in setting, stop loss setting, and take profit setting. Once these parameters are confirmed, the smart trade strategy can begin.

Time-weighted average price bot

Also known as TWAP, this bot offers the simplest trading strategy with its traditional algorithm. It is designed to offer traders a lower average transaction price by minimizing the transaction’s impact. As a result, it reduces transaction costs.

Ease of Use

Pionex is available on a desktop and on a mobile app. The mobile app has all the features available on the desktop version. It is a fully fleshed-out mobile app that is completely functional, giving users the same experience they would have when they use the desktop. New users will find this mobile app to be simple enough to navigate.

But while the app is easy to use, it still has a comprehensive, responsive interface. And traders can manually invest using the mobile app. This app is available on iOS and Android. Also, setting up and activating the bots is straightforward.

It may be better to start with the mobile app for beginners because the app is more streamlined, and the desktop may be more intimidating for people starting out.  

 

Supported Exchanges

Spot

Pionex

Futures

None supported

Pionex is compatible with several reputable exchanges including:

Binance

Kraken

Coinbase

Gemini

Crypto.com

KuCoin

Gate.io

 

Pricing

Pionex uses the maker-taker strategy, which means that the platform receives a fee when the trader makes liquidity on the market or takes liquidity from the market. That means that if a trader places a trade order that isn’t immediately with an outstanding order, they pay a maker fee.

And on the flip side, if the trader places a trade order that is matched by an outstanding order, they pay the taker fee.

Currently, the maker and taker fees are both equal at 0.05% of the total trade value. The high-volume trader on Pionex can apply for the platform’s market maker program. This program can only be applied for within the first 10 days of any month and requires one to deposit a minimum of $300k in USDT in their account or to maintain a $300k. Traders pay 0% maker fee if they qualify for the Market Maker Program, but they still have to pay 0.05% taker fees.

Cryptocurrency (CC) deposit on Pionex is free, but it varies when you deposit using a credit card. If you are using a Europe CC, you'll get a 3.5% fee, and for Non-European CC, it's 4.5℅.

For withdrawals, Pionex clients can only withdraw cryptocurrencies on the exchange. Its fees vary depending on the coin or token you want to withdraw and its quantity limits. However, you can increase your withdrawal limitations by providing KYC information. This is also optional.

Customer support

Pionex support offers unique customer support methods to ensure they provide critical help to the platform’s users. This support is offered via email and live chat, although the platform doesn’t list its operation hours.

Via email, users can get in touch with Pionex team by messaging [email protected]. On the other hand, live chat can be accessed by clicking on the support tab on the homepage. Once you click on the support tab, a small dialog box pops up where you can communicate with a support team member.

Pionex is also well-regarded and rated on platforms like Trustpilot. It has such a large supportive community via social media accounts, helping traders find the correct information. The Pionex Youtube channel features tutorials that help beginners know how to activate and use their popular trading bots.

Connect with them on social media platforms like:

-Telegram
-Twitter
-Facebook
-Discord
-Line

And for traders who want answers to the most commonly asked questions on the platform, the FAQs section offers detailed answers to these questions and everything you need to know about their bots. The FAQ section is especially and supportive to beginner traders getting started in trading and understanding the nuances of using bots. 

Security

Although it is considered a young cryptocurrency exchange, it is one of the safest options because it keeps its funds on Huobi and Binance, which have high-level security features. Remember, Binance is the largest cryptocurrency exchange in the world when it comes to daily cryptocurrency trading volumes. And Huobi is among the most liquid cryptocurrency exchanges allowing deep liquidity for popular trading pairs like ETH/USDT and BTC/USDT.

Remember, at the top of the article, we highlighted how the safety of Pionex is guaranteed because it uses the security features of Binance and Huobi. But there is more.

The platform has more than $10 million in backing from Shunwei Capital, Gaorong Capital, and Zhenfund. But one of the critical steps Pionex has taken in securing traders on the platform is not informing users of the encryption feature to avoid data hacks.

Lastly, Pionex has acquired Money Services Business licensure from a bureau under the U.S. Department of Treasury known as the Financial Crimes Enforcement Network (FinCEN). The bureau is a United States government program that is tasked with analyzing online transactions and limiting money laundering and fraud. It is also under Singaporean regulations in addition to United States regulations.

Reliability

Pionex is regarded as both safe and reliable by users trading on the platform. This platform is on par with other popular crypto exchanges in terms of security, ease of use, and safety.

Pionex regularly updates its system to ensure that the bots can provide better features on the exchange. This helps address the usual issues most users experience when using trading bots making it a reliable crypto exchange program. The good news is that they listen to the feedback from their market to improve on the reliability of their services unlike other companies.

This crypto exchange has a 99.99℅ uptime on its website. This means its system is always available for most of its designated operational time. Because of this, investors don't need to watch the market all the time. With the help of its crypto trading bots and comprehensive data, they can quickly execute their trading strategy anytime.

When it comes to deposits and withdrawals, everything is smooth and fast because its interface is also easy to understand.

Updates

The latest Pionex update AI 2.0 on the platform’s backtesting system, PionexBT, is industry-leading level. PionexBT develops an integrated quantitative research environment from an advanced engine in the quantitative investment field. The backtesting uses a transaction matching engine to explore Pionex’s large order flow data.

Since the platform runs automated bots, backtesting is already done by its system. You can see this under Grid Trading Bot's AI system. The PionexBT from Pionex's latest update specializes in quantitative trading strategy in the crypto market.

It also has the maximum drawback indicator that helps traders assess and identify the risk of grid trading bots. AI 2.0 has a more intelligent prediction algorithm improving the grid’s accuracy in predicting the grid’s lower and upper limits.

And finally, it offers higher grid profits to users. The grid profit is the profit locked in by the bot in executed sell orders. Since the sell has already been realized, it can never decrease and can only be positive. 

Pionex VS Gainium

Audience

PionexGainium
Skill RequiredBeginnerBeginner
Best for Traders and Investors Traders and Investors

Trading Bots

PionexGainium
Grid bots
Signal bots
DCA bots
HODL bots
Arbitrage bots
Portfolio Rebalancing
Copy Trading

Account

PionexGainium
Portfolio Tracking
Backtesting
Paper Trading

Pricing

PionexGainium
Starting Yearly Fee

Commission based

$168

Trial Duration: 7 days

Payment methodsCrypto
Bank Transfer
Crypto

Conclusion

Pionex is an excellent option for beginners. It can help you adopt strategies that are devoid of emotion, and it also works well if you do most of your trading on the go. If you have some cryptocurrency and want to start trading immediately, this is an excellent exchange, to begin with.

Moreover, there are over 120 different significant cryptocurrencies listed on the exchange. This means that the platform can still cater to your bot automation needs no matter what crypto you're investing in. Some of the coins are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more.

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