Pionex Review 2024


3.4 / 5
Pionex is #57 in our crypto broker rankings.

Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading.

- Daytrading Review Team

Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.

$0
Own
Cryptos
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Bitcoin Payments

Crypto Trading

Make spot, future and leveraged trades on 120 cryptocurrencies via Pionex's proprietary platform with built-in trading bots and highly customizable automated trading options. On the negative side, the range of tokens is narrower than many alternatives.

Copy Trading

Pionex clients can find other successful investors and copy their trading bot setups. This allows users to buy and sell cryptos 24/7 from a user-friendly platform and app.

✓ Pros

  • 12 free integrated trading bots with no coding or programming requirements
  • Powerful integrated AI chatbot 'PionexGPT' helps users programme trading bots on Pine script
  • Excellent and innovative liquidity engines aggregated from Binance and Huobi
  • Low trading fees compared with other major exchanges at 0.05% maker and taker
  • 40+ cryptocurrency funding coins accepted
  • Supports crypto derivatives via futures trading
  • Money Services Business (MSB) license by US FinCEN

✗ Cons

  • Weak regulatory oversight raises safety concerns
  • Withdrawal fees and limits may apply
  • Does not accept fiat deposits
  • Limited contact options
  • No demo account

Pionex is a cryptocurrency exchange with free, integrated trading bots. No prior experience in automated or crypto trading is required, simply activate their bot tools to get started. This guide will explore how to use Pionex robots, what payment methods are available and how the exchange’s fee structure is laid out. We will also review the Pionex arbitrage bot and grid trading bot, alongside the trading platform, asset range and more.

What Is Pionex?

Pionex is the world’s first exchange with free, integrated trading bots. It is an automated crypto trading environment launched in 2019 and has been one of the fastest-growing platforms in Asia, with over $30 million in trade volume per day. Today, the exchange has over 100,000 users, serviced by a team of 100+ experts plus the founder and CEO.

The company holds a USA Money Services Business license (MSB) with a Monetary Authority of Singapore (MAS) license pending. Liquidity engines are aggregated from both Binance and Huobi Global, ensuring that the bots can match orders and run 24/7. Pionex is backed by BitUniverse and has been invested in by the prominent Chinese venture capital firms ZhenFund and Gaorong Capital.Pionex Arbitrage Bot

Why Use Bots?

Crypto bots are a set of programmes and algorithms designed to automate trading in the digital currency markets. Market data is interpreted and analysed according to a predetermined set of rules to select the best opportunities and execute positions. Bots reduce the round-the-clock monitoring that could be required for extended periods.

The main advantages of using bots in the cryptocurrency market include:

How Pionex Works

Pionex is not simply another cryptocurrency exchange as it provides the tools to create customisable automated strategies with free bots. API key trading has become invaluable, reducing the need to watch the markets 24/7, and Pionex offers 12 free trading bots that are suitable for beginner and experienced traders.

Generally, bots are complex, requiring client programming and coding knowledge, so the lack of setup required for Pionex bots is a unique advantage. You can also use copy trading to follow top investors bots.

Pionex Bots Explained

A suite of leading robots are available:

View the Pionex bot tutorial information on their website to find the best bot for you and your trading strategy.

Pionex Trading Platform

Pionex has a web-based proprietary trading platform that is compatible with all major web browsers, including Safari, Chrome, Firefox and Explorer. The platform is sophisticated and simple to navigate, with key features including:

Pionex Web Trading PlatformPionex Web Trader

Mobile App

The Pionex trading platform is primarily designed for mobile use, with a dedicated application available for download to iOS and Android devices. The app allows you to create grid trading bots, DCA bots and more wherever you may be. You can track strategy statistics, receive real-time news and notifications and action price gap control from mobile and tablet devices to maximise your profit potential. The app has a clean but intuitive design with positive user rankings pushing it up the app store’s leaderboard.

Demo Account

Pionex does not offer a demo account, which may hold it back slightly vs other similar exchanges, like Bitsgap and 3commas. Paper trading is a great way to learn the ropes of a platform, trial strategies or bots and explore new markets without risking any capital. That being said, there are several other big crypto players, like Kraken and BitUniverse, that also do not provide demo account functionality.

Pricing

Pionex is a market maker for Binance and Huobi Global and as such it benefits from low fees from the two exchanges. The pricing structure of the exchange is 0.05% per trade, which is competitive vs Binance & Kucoin at 0.1% and Cryptohopper at 0.15% per transaction. There are no additional charges to implement the Pionex trading bots.

Market maker programmes are available for those with a 300,000 USDT trading volume. Clients can benefit from 0% maker fees, while taker charges remain at 0.05%.

Payments

Deposits

Pionex only accepts deposits in cryptocurrencies, though 40 different digital currencies are supported, including Ethereum (ETH) and Bitcoin (BTC). When using the platform, your wallet must remain free of fiat currency. Stablecoins, such as USDT, are also supported, providing a good option to avoid price fluctuations between exchanges and limit the possibility of account capital dropping.

Coinbase and Binance are recognised, regulated fiat gateways for global consumers that can be used to transfer assets to a Pionex account. You should ensure that the deposit networks match to avoid losing assets; the broker provides clear online tutorials on how to transfer assets via various gateways.

Pionex does not have a minimum deposit requirement, balance level or a funding fee, although each trading pair does have a minimum investment order volume. Deposits can take up to 1 hour from submission to show in your account.

Withdrawals

As per deposits, clients may only withdraw cryptocurrencies. There is a withdrawal fee that varies by coin, alongside quantity limits. Providing KYC information can, however, increase the withdrawal limits.

Security

Pionex offers a secure trading environment that follows security regulations set by US agencies. The broker also holds investments from leading corporations, including ZhenFund and Gaorong Capital, of more than $10,000,000.

The power behind the Pionex exchange is the BitUniverse team; an established all-in-one trading bot and portfolio with the biggest market share in Taiwan, Indonesia, and South Korea. This indicates reputable security and accountability.

Customer Support

Pionex can be contacted via the email address below, Telegram or through a live chat functionality at the bottom right corner of the website.

Pionex also has an FAQ section on the website, which includes topics like unrealized profit, how to stop a trading bot, insurance and compensation, using a crypto dust collector and what to do with not enough capital for investment/frozen quantity balances. Other promoted self-help options include social media channels and the Discord community.

Pionex cannot be contacted via telephone.

How To Sign Up With Pionex

Opening an account is a quick and simple process, simply select the ‘Sign Up’ button on the website and complete the online form to create a set of login details. Either a phone number or email address is required for a verification code and you may want to fill out KYC details to increase withdrawal limits, though this is optional. If you have a referral code you can also include that to earn rewards.

Pionex Verdict

Pionex is a unique, fast-growing cryptocurrency exchange offering a wide range of simple, yet sophisticated trading bots, that can be implemented with no knowledge or experience of coding, algorithmic trading or crypto bots. Although a new broker, a good level of security is provided and there is an impressive level of financial backing, including from two prominent Chinese venture capital firms. Although the automated trading features are accessible for beginner traders, the lack of a demo account or telephone contact number means that prospective clients have no way to test the broker before risking capital.

FAQs

What is Pionex Lite And Is It Safe?

Pionex Lite is a product that supports US Dollar purchases of Bitcoin and Ethereum. It is a one-stop service from USD to Bitcoin to bots. The app is safe, legit and easy to use, even for inexperienced digital currency investors. Google authenticator 2FA can be enabled too.

What Are Pionex Leveraged Tokens?

Pionex leveraged tokens offer margin trading exposure and have an optimised rebalancing mechanism. It maintains flexible target leverage rather than a fixed and constant rate. The token names consist of three parts: coin, leverage, and long/short, e.g BTC3L.

What Is Pionex Smart Trade?

Pionex Smart Trade is a 24/7 ‘swing catcher’. Schedule buying and selling at the same time with take profit and stop loss orders to avoid the risks of losses and improve your win rate.

I Am Integrating A Pionex Grid Trading Bot, How Many Grids Will Be Created?

Clients can use a Pionex Grid trading bot to generate returns in the fluctuated sideways market with the BTC/USDT or XRP/USDT pairs, for example. After the bot has been created, it will slice a predetermined range into 10 grids.

What Is The Difference Between Pionex Arithmetic Vs Geometric Grids?

The Pionex Geometric and Arithmetic trading bots have a key difference in their grid generation approach. Arithmetic holds the same common difference between each grid, whereas Geometric maintains the same common ratio between each grid.

Do I Need USDT To Use Bots On Pionex?

After depositing into your Pionex account, you need to convert your coins to USDT if you wish to trade that coin. This can be actioned via the trading page.

What Is The Pionex Spot Futures Arbitrage Strategy?

The strategy involves holding a short position in the perpetual futures market while holding the same size position in the spot market. Arbitrage will find the market-neutral position and utilise the funding rate every 8 hours.

Can I Trade With The Pionex Arbitrage Bot In New York?

There are no geographical limits for Pionex clients, which means that traders from Malaysia to Brazil can open a live account and start using any of the trading bots.

Top 3 Alternatives to Pionex

Compare Pionex with the top 3 similar brokers that accept traders from your location.

  1. eToro – eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail accounts lose money.
    Go to eToro
  2. Skilling – Skilling is a multi-asset broker founded in 2016 and based in Cyprus. The brand offers hundreds of day trading instruments with competitive spreads from 0.1 pips and beginner-friendly platforms. Skilling are also regulated in Europe and beyond with a transparent pricing structure. You can sign up and start trading in three easy steps.
    Go to Skilling
  3. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
    Go to AvaTrade

Pionex Comparison Table

Compare Pionex With Similar Brokers
Pionex eToro Skilling AvaTrade
Rating 3.4 4.1 3.4 4.9
Markets Cryptos CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities, Bonds Forex, CFDs, Stocks, Indices, Commodities and Cryptos CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
Demo Account No Yes Yes Yes
Minimum Deposit $0 $50
Minimum Trade 0.1 USDT $10 0.01 Lots 0.01 Lots
Regulators FinCEN FCA, ASIC, CySEC, FSA, FSRA, MFSA CySEC ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
Bonus
Education No Yes Yes Yes
Platforms Own eToro Web, CopyTrader, TradingCentral Skilling Trader, MT4, cTrader, TradingView WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Leverage 1:30 (Retail) 1:400 (Pro)
Payment Methods 1 13 9 13
Visit Visit Visit Visit Visit
Review eToro
Review
Skilling
Review
AvaTrade
Review

Compare Trading Instruments

Compare the markets and instruments offered by Pionex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Pionex Trading Instruments
Pionex eToro Skilling AvaTrade
CFD No Yes Yes Yes
Forex No Yes Yes Yes
Stocks No Yes Yes Yes
Commodities No Yes Yes Yes
Oil No Yes Yes Yes
Gold No Yes Yes Yes
Copper No Yes Yes Yes
Silver No Yes Yes Yes
Corn No Yes Yes Yes
Crypto Yes Yes Yes Yes
Futures No Yes No Yes
Options No No No Yes
ETFs No Yes Yes Yes
Bonds No Yes No Yes
Warrants No No No No
Spreadbetting No No No Yes
Volatility Index No Yes Yes Yes

Pionex vs Other Brokers

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Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.