Pionex Review 2023
- Daytrading Review Team
Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading.
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.
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.
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.
- 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
- 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.
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:
- Emotionless trading based on data
- Reduce the chance of human errors or delays
- Provide simulated environments to test new strategies
- Operate on set rules working on consistency for performance targets
- Rapid trading and transactions, executed faster than individual investors could
- Reduce the amount of human interaction and time needed to watch market changes 24/7
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:
- Trailing Buy Bot – Adds to a position when the asset value falls. Buying stops when the price reverses
- Trailing Sell Bot – Places trailing stops on orders, limiting potential losses in the case of sudden market shifts
- Smart Trade Bot – Exploits market trends with low account risk by buying and selling with fixed or trailing stops
- Grid Trading Bot – Buys and sells orders within specified price ranges, securing small and stable profits from standard volatility. Perfect for beginners or those new to automation
- Reverse Grid Bot – Increases your holdings as coin prices fall. Designed to sell coins when high prices are reached relative to predetermined upper and lower limits
- Margin Grid Bot – Earns a profit without using crypto coins by lending some to other Pionex users and earning additional capital to provide the funds for trading
- Leveraged Grid Bot – Utilises leverage with margin loans to amplify the results of the standard grid bot, available with 1:1.2, 1:1.5, 1:2 and 1:3 leverage rates
- Leveraged Reverse Grid Bot – Adds leverage to the standard reverse grid bot to amplify trading results and profit potential. Leverage of 1:1.2, 1:1.5, 1:2 and 1:3 available
- Infinity Grid Bot – A more advanced profit release strategy similar to the grid bot that uses percentages and no upper range limit. Best suited for investors that believe the market will rise
- Time-Weighted Average Price (TWAP) Bot – Buys and sells large volumes of cryptos in smaller orders over a specified period, creating an averaged asset price
- Dollar-Cost Averaging (DCA) Bot – Sets repeated purchasing at regular intervals to offset the effects of volatility
- Spot Futures Arbitrage Bot – A bot for the futures markets, capitalising on market price differences between futures and spot prices. Targets APR returns of 15% to 50%. The Pionex SAFU compensation programme is also implemented up to a limit of 50,000 USDT
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:
- Coin ranking
- Live market cap
- Manual buy/sell
- Built-in live chat
- TradingView charts
- Light and dark mode
- Customisable time filters
- Full trading order history
- Fully customisable interface
- Watchlists, favourites and live coin holdings
- Several technical indicators, including Bollinger Bands, RSI, MACD and Price Oscillator
Pionex Web Trader
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.
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.
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%.
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.
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.
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.
Pionex can be contacted via the email address below, Telegram or through a live chat functionality at the bottom right corner of the website.
- Email – email@example.com
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 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.
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.
Pionex accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
|Minimum Trade||0.1 USDT|
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Auto Trading||Crypto bots|
|Guaranteed Stop Loss||No|
Cryptocurrency Trading Details
|Crypto Auto Market Maker||No|
Top 3 Alternatives to Pionex
Compare Pionex with the top 3 similar brokers that accept traders from your location.
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group
Interactive Brokers – Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
Go to Interactive Brokers
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
Pionex Comparison Table
|Pionex||IG Group||Interactive Brokers||Just2Trade|
|Markets||Cryptos||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Forex, Stocks, Commodities, Crypto||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds|
|Minimum Trade||0.1 USDT||0.01 Lots||$100||0.01 Lots|
|Regulators||FinCEN||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||SEC, FCA, IIROC, SFC||CySEC, NFA, FINRA, Bank of Russia|
|Bonus||–||–||–||Up to $2,000 for professional accounts|
|Platforms||Own||MT4, AutoChartist, TradingCentral||AlgoTrader, OmniTrader, eSignal, TradingCentral||MT4, MT5, TradingCentral|
|Leverage||–||1:30 (Retail), 1:250 (Pro)||1:50||1:20|
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.
|Pionex||IG Group||Interactive Brokers||Just2Trade|
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.|