Trading cryptocurrencies can be very profitable but also very time-consuming and stressful. You must constantly watch the market, analyze the trends, and execute the trades correctly.
But what if there is a way to make your life easier and let the software do the hard work for you? That’s what Pionex promises to offer- a cryptocurrency exchange with free trading bots.
This Pionex review will examine Pionex’s features, security, and how trading bots work. We will also compare it with other exchanges and bots you might have heard of.
Key Insights:
- Pionex is best for free automated crypto trading bots with various trading strategies.
- It gets the best prices and liquidity from other top exchanges like Binance and Huobi so that you can trade with low slippage.
- The exchange is best for crypto-to-crypto trading as it does not support many fiat deposit channels.
What is Pionex?
Pionex is a crypto exchange founded in 2019 and provides 16 free crypto trading bots to its customers. These trading bots run on the cloud, enabling traders to execute their strategies and benefit from market changes.
It charges extremely low trading fees of 0.05% and offers more than 379 coins and tokens. Pionex has over 100,000 users worldwide and processes over $5 billion monthly trading volume.
Pionex has a web platform and a mobile app that are user-friendly and safe. It is licensed in Singapore and the US and has received funding from BitUniverse and Banyan Capital. The exchange operates in more than 100 countries.
Pionex Overview
| Launched | 2019 |
| Types | Crypto exchange with automated trading bots |
| Market types | Spot and futures trading are available |
| Trading fees | Spot: 0.05% maker/takerLeveraged: 0.1% maker/taker |
| Trading bots | 16 bots are integrated for free |
| Supported coins | 379 coins/tokens |
| Payment methods | Credit cards, crypto deposits, and withdrawals are accepted |
| Referral or Affiliate Program | Yes, up to 40% commission can be earned |
| Customer support | Email, Telegram, Chat, and Help center |
Pros of Pionex
- User-friendly interface for beginners
- Automated crypto trading bots with user-pre-defined strategies
- Wide range of supported cryptocurrencies
- Very low trading fees
- Android and iOS mobile app
Cons of Pionex
- Limited fiat currency support
- Advanced trading features like lending and margin trading are not available
Pionex Review: Key Features Explained
1. Trading bots
Pionex has 16 kinds of automated trading bots that you can use for free. They can help you trade automatically and make money from market movements.
You can choose from different bots like grid trading, DCA, rebalancing, arbitrage, etc. You can easily set up and manage your bots on the web browser or mobile app. You can also adjust the settings to suit your strategies and goals.
2. Spot and Futures Trading
Pionex lets you trade in two ways: spot and futures. Spot trading is when you buy or sell coins at the current market price. You can use spot trading to swap one coin for another or to buy or sell coins with fiat currencies or stablecoins.
Futures trading is the activity of buying or selling contracts that represent the future price of crypto. You can use futures trading to bet on price movements or multiply your positions.
Pionex offers both perpetual and quarterly futures contracts for various coins, with up to 100x leverage.
3. Staking
Pionex offers staking services for ETH and USDT. You can stake ETH on Pionex and earn income from the Lido/Curve platform, which is a decentralized solution for ETH 2.0 liquid staking.
You can also stake USDT on Pionex and earn income from the Compound platform. It is a decentralized lending and borrowing protocol.
4. PionexGPT
PionexGPT lets you create your trading strategies with AI. It now uses GPT-3.5, one of the most powerful natural language processing models, to create Pine Script code for your strategies based on your description.
You can also copy other traders’ strategies from the GPT marketplace or share your trading systems with others. With PionexGPT, you can easily automate your TradingView strategy on Pionex with the Signal Bot.
5. Structured Loan
It is a service that lets you borrow coins from Pionex at a low-interest rate. You can use Pionex Loan to increase your buying power, diversify your portfolio, or hedge your risks.
You can borrow up to 60% of your collateral value and choose from various loan terms and interest rates. You can also repay your loan at any time without penalty.
Pionex Trading Bots Review
The names of the 16 built-in trading bots are:
- Grid Trading Bot
- DCA Bot
- Rebalancing Bot
- Arbitrage Bot
- Leveraged Grid Bot
- Smart Trade Bot
- Leveraged Reverse Grid Bot
- Margin Grid Bot
- Infinity Grid Bot
- TWAP Bot
- Trailing sell Bot
- Spot Futures Arbitrage Bot
- Reverse Grid Bot
- Trailing Buy Bot
- Bitcoin and Ethereum Moon Bot
- Signal Bot
Let’s discuss the most popular ones only in more detail.
1. Grid Trading Bot
The Pionex grid trading bot help you make money from the price changes in a price range that you set. It splits the range into grids and puts buy and sell orders at each grid level.
When the price goes up and down, it does the orders and makes money from the difference. You can use this bot for stable or volatile markets and change the grid number, range, and profit ratio.
2. DCA Bot
The Dollar cost averaging bot helps you lower your cost and make a profit at one time. You can use this bot for coins that you are positive about and set the buy and sell triggers.
It buys more of a coin when the price drops below a certain percentage you set and sells all of it when the price goes up to a certain percentage above your average cost.
3. Rebalancing Bot
This trading bot helps you make your own index and rebalance it regularly. It puts your money into different cryptos that you choose and changes the allocation according to a fixed time interval or a threshold that you set.
You can use this bot to spread your portfolio, follow the market performance, and set the frequency and deviation of the rebalance.
4. Arbitrage Bot
You can use the arbitrage bot to take advantage of the price differences between the two crypto exchanges. Technically, this bot will buy a coin on one exchange where the price is lower and then sells it on another exchange where the price is higher.
The bot makes a profit from the price difference. You can use this bot to earn money safely and consistently and decide which exchanges, coins, and how much you want to invest.
5. Leveraged Grid Bot
It helps you make more money with leverage in a grid trading strategy. It borrows money from the exchange to put more buy and sell orders in your set price range.
When the price goes up and down, it does the orders and makes money from the difference, multiplied by the leverage ratio. You can use this bot for volatile markets with clear trends and change the grid number, range, profit ratio, and leverage ratio.
6. Smart Trade Bot
This bot helps you set multiple conditions for one trade. It lets you set a stop loss, a take profit, and a trailing stop for your order.
You can manage your risks and profits in any market, and set the order size, side, coin, stop loss, take profit, and trailing stop.
Pionex Review: Supported Coins
You can find over 379 coins on Pionex, including popular ones like Bitcoin, Ethereum, Dogecoin, Solana, Shiba Inu, etc.
You can also trade your cryptos with fiat currencies or stablecoins like USDT, BUSD, USDC, etc. Most of the trading pairs on Pionex are also available on Binance and Huobi Global, as it gets liquidity from these exchanges.
Pionex Review: Fees
Pionex Trading Fees
Pionex charges a flat fee of 0.05% for both makers and takers on every spot market trade. This fee is very low compared to other exchanges, which usually charge between 0.1% to 0.5%.
You can also get a fee discount if you are a VIP user, which depends on your trading volume. It also charges a 0.1% leveraged trading fee.
Pionex Deposit Fees
Pionex doesn’t require any fees when you deposit cryptocurrencies into this exchange. However, you might have to pay network fees to the blockchain you’re using. These fees vary based on the coin and how congested the network is. Pionex’s minimum deposit is 1 USDT or 0.00005 BTC.
Pionex Withdrawal Fees
Pionex applies a fixed charge when you take out cryptocurrencies from your account. This includes the fees associated with the network.
The amount of the fee varies depending on the specific coin and network you’re utilizing. You can locate the complete list of withdrawal fees in Pionex’s fees section.
For instance, the withdrawal fee for Bitcoin is 0.0004 BTC (Bitcoin), for Ethereum, it’s 0.004 ETH (ERC-20), and for USDT, it’s either 10 USDT (ERC20) or 0.4 USDT (TRC20).
Pionex Security Review
Pionex offers many ways to keep your account safe. You can verify using an email code or mobile OTP while signing up for your account.
There’s also a personal passcode and a withdrawal address whitelist to add more protection. And if you want even more security, you can turn on two-factor authentication (2FA).
Pionex is regulated in Singapore and the United States. These countries have strict rules for crypto exchanges. It has a license called MSB (Money Services Business). This license ensures that Pionex follows rules about money laundering and customer identification (KYC).
Pionex Customer Support Review
You can chat with a support agent in real time and get instant help and solutions. Pionex also has a help center where you can find articles, guides, tutorials, FAQs, and announcements. You can also submit a support ticket or search for a topic you need help with.
You can email “service@pionex.com“, where you can explain your problem or issue in detail and attach any screenshots or documents if needed.
Pionex Alternatives and Comparison
| Supported Coins | Trading Fees | Trading Bots | Staking | NFT Marketplace | |
| Pionex | 379 | 0.05% | Yes | Yes | No |
| Binance | 350+ | 0.1% (0.02% for BNB holders) | Yes | Yes | Yes |
| Kucoin | 800+ | 0.1% (0.08% for KCS holders) | Yes | Yes | Yes |
| Bybit | 390+ | 0.1% | Yes | Yes | Yes |
How to Use Pionex and its Trading Bots?
Step 1: Sign up for an account on Pionex. You can use your email or phone number to sign up and verify your identity with a photo ID and a selfie. You can also use a referral code to get some benefits.
Step 2: Send some crypto to your Pionex account. You can choose from over 379 coins that are supported by Pionex and send them to your Pionex wallet address. You can also buy crypto with fiat or stablecoins on Pionex.
Step 3: Pick a trading bot that suits your needs. You can find 16 cryptocurrency trading bots on Pionex, each with features and advantages, as we reviewed above. You can learn more about each bot on the website or the help center.
Step 4: Make a trading bot with your preferred parameters. You can select a coin, a trading pair, a budget, and other settings for your trading bot. You can also use the AI feature to generate the best parameters. Once you make your bot, it will start trading automatically.
Step 5: Watch and manage your trading bot. You can check your trading bot’s performance, profits, and status on the app or website. You can also adjust, pause, or stop your trading bot at any time. You can also use the signal bot feature to connect your TradingView signals to Pionex.
Final Thoughts: Is Pionex Safe?
In this Pionex review, we have learned that it is a trustworthy crypto trading platform. You can find a trading bot that matches your needs and preferences, whether you are a beginner or an expert.
It supports many bots, such as Grid, DCA, rebalancing, arbitrage, etc. You can also benefit from low fees, high security, and great customer support on Pionex.
Suppose you are looking for a crypto exchange combining the best automated and manual trading. In that case, Pionex is the one for you.
Pionex Review: FAQs
Is Pionex Legit and Safe to Use?
Yes, Pionex is a legit exchange that has been licensed by the authorities in Singapore and the US. It also has a high level of security, as it keeps most of its users’ funds in offline wallets and has a backup fund to cover any losses. Pionex has also passed a security audit by a reputable cybersecurity firm called Knownsec.
Is Pionex available in the US?
Pionex has obtained the MSB (Money Services Business) license from FinCEN (Financial Crimes Enforcement Network), which means it can legally operate in the US market.
However, you will not find margin and leveraged trading bots on the Pionex US version due to US laws.
Are Pionex Trading Bots Profitable?
The profitability of the bots depends on many factors, such as how you set up the bot, what trading pair you choose, and how much risk you are willing to take.
Hence, Pionex bots do not guarantee any percentage of profit. But using the best strategies can increase your chances of profit and minimize the risks of losing money.
Are Pionex Trading bots free to Use?
Yes, you can use Pionex trading bots for free. You don’t have to pay any extra fee or subscription to use the bots. The only fee you have to pay is the trading fee, which is 0.05% per transaction.
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