Detailed Full Review of Pionex: All you need to know (2024)

What is Pionex?

Pionex is a Cryptocurrency trading platform Recognized on a global scale, integrating Cryptocurrency trading bots automated.

Launched in 2019, this broker based in Singapore has developed into an international cryptocurrency platform.

Traders have access to 18 free trading bots, allowing them to automate their trades at no additional cost.

The exchange is easy to use, with detailed tutorials to explain how each bot works, and what it's best used for.

Open an account and try Pionex for free

How does Pionex work?

Pionex is not just another cryptocurrency exchange as it provides the tools to create customizable automated strategies with free bots.

API key trading has become invaluable, reducing the need to monitor the markets 24/7, and Pionex offers 12 free trading bots that are suitable for both new and experienced traders.

In general, bots are complex and require client programming and coding knowledge. The lack of configuration requirements for Pionex bots is therefore a unique advantage. You can also use copy trading to follow the bots of top investors.

A series of robotic robots are available:

• Trailing Buy Bot - Adds to a position when the asset value falls. The Purchase Stops When The Price Is Reversed
• Trailing Sell Bot - Places trailing stops on orders, limiting potential losses in the event of sudden market changes.
• 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, ensuring modest and stable profits from standard volatility. Perfect for Beginners or Those Who Are New to Automation
• Reverse Grid Bot - Increase your holdings when coin prices drop. Designed to sell coins when high prices are reached compared to pre-determined upper and lower limits.
• Margin Grid Bot - Earn a profit without using cryptocurrencies by lending some of them to other Pionex users and earning additional capital to provide the funds needed for trading.
• Leveraged Grid Bot - Uses leverage with margin loans to amplify the results of the standard grid bot, available with leverage rates of 1:1.2, 1:1.5, 1:1.5, 1:1.5, 1:1, 1:2, and 1:3.
• Leveraged Reverse Grid Bot - Adds leverage to the standard reverse grid bot to amplify trading results and profit potential. 1:1.2, 1:1.5, 1:1.5, 1:1.5, 1:2, and 1:2, and 1:3 leverage available.
• Infinity Grid Bot - A more advanced profit-making strategy, similar to the grid bot, that uses percentages and no upper limits. It is best suited to investors who think the market is going to increase.
• Time-Weighted Average Price (TWAP) Bot - Buys and sells large volumes of cryptocurrencies in small orders over a period of time, creating an average asset price.
• DCA Bot Dollar-Cost Averaging (DCA) - Allows you to make repeated purchases at regular intervals to offset the effects of volatility.
• Spot Futures Arbitrage Bot - A bot for future markets, capitalizing on price differences between futures and spot prices. The objective is to obtain returns of 15% to 50% on APRs. Pionex's SAFU compensation program is also implemented up to a limit of 50,000 USDT.

Check out the Pionex robot tutorial information on their website to find the best robot for you and your trading strategy.

Features

Broadly speaking, Pionex has three key products that offer a number of benefits to its users.

1. Cryptocurrency trading platform;
2. exchange robots;
3. Mobile app.

Cryptocurrency trading platform

The Pionex trading platform offers a wide range of features, including:

• Accessibility to more than 120 cryptocurrencies: including Bitcoin (BTC), Ethereum (BTC), Ethereum (ETH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Shiba Inu (SHIB), or Dogecoin (DOGE). Users can set up bots to trade or buy them on the market if they prefer HODL.
• Customizable interface: it includes an order book, a trade list, and you can choose to use the trading robot or make a manual trade.
• Advanced features: such as time filters, watch lists, live token favorites and stocks, multiple technical indicators, live market cap, entry point, manual buy/sell, built-in live chat, and charts.

Note: The installation of the application Pionex Lite is required before transactions in USD can be made. The standard version of Pionex is limited to cryptocurrency transfer.

Pionex has a web-based trading platform that is compatible with major web browsers, including Safari, Chrome, Firefox, and Explorer.

The platform is sophisticated and easy to navigate, with key features:

• Classification of coins
• Live Market Capitalization
• Manual purchase/sale
• Integrated live chat
• Charts
• Light and dark fashion
• Customizable time filters
• Full history of trading orders
• Fully customizable interface
• Watch lists, favorites, and live parts stocks
• Several technical indicators including Bollinger Bands, RSI, MACD, and Price Oscillator.

Trading bots

Trading robots are a valuable tool for any cryptocurrency investor.

They allow different trading strategies to be automated to maximize gains and minimize risks.

Pionex trading robots are grouped into four categories: grid bots, arbitration bots, investment bots, and buy and sell bots.

Grid bots

• Grid Trading Bot: Automatically buys an asset when its price falls below a pre-determined low point (entry point) and sells it when its price rises above a predefined high point.
• Leveraged Grid Bot: Uses leverage to multiply your investment and profits: a more complex version of the Grid Bot.
• Reverse Leveraged Grid Bot: Based on the principle of the reverse grid, uses the leverage effect to increase the revenue generated by the grid.
• Margin Grid Bot: Allows you to mortgage your currency to borrow another asset and make the grid work.
• Infinity Grid Bot: Ensures that the total number of assets remains constant while asset prices continue to rise.
• Reverse Grid Bot: Allows you to increase the number of tokens that the bot keeps while reducing the cost of maintenance

Arbitrage bots

• Arbitrage Bot: Takes advantage of price disparities between the current spot price of an asset and its price on the futures market.
• Spot Futures Arbitrage Bot: allows you to take advantage of price disparities between the current spot price of a crypto asset and the price of this cryptocurrency on the futures market.

Investment bots

• DCA Bot (dollar-cost averaging): Allows you to program a sequence of purchase orders to be executed at predetermined intervals. This method helps to get a better average price in the long run.
• Double Investment: structured savings instrument with variable returns.

Buying and Selling Bots

• Trailing Sell Bot: Automatically sells a pre-determined percentage of your assets when certain price goals are met.
• Smart Trade: Plan simultaneous purchases and sales with levels of taking profits and stopping losses.
• Trailing Buy: Helps to buy at the lowest possible price in a volatile market.

Apart from these categories, some bots like the Martingale Bot, the Rebalancing Bot, and the TWAP Bot also offer unique approaches to automated trading.

Mobile app

Reproducing all the functionalities of its desktop version, the Pionex mobile application offers a user-friendly interface, suitable for both novice and experienced users. It even allows you to create your own trading robot in just one minute thanks to clear and precise instructions.

Accessible from the Google Play Store

• The Pionex mobile application is easily accessible and downloadable from the Google Play Store.

The application is not limited to creating trading bots, it also offers other features:

• Manual trading: For those who prefer more direct control, the Pionex app allows manual order placement in a simple and intuitive way.
• An advanced mobile interface: Whether it is the desktop platform or the mobile application, Pionex ensures a latency-free connection, allowing traders to obtain market information in real time.

Payments

Deposits

• Accepted currencies: Over 40 digital currencies including Ethereum (ETH) and Bitcoin (BTC).
• Requirements: No minimum deposit, balance level, or funding fees are required.
• Deposit fees: Depositing cryptocurrency is free.
• Credit card fees: 3.5% for credit cards in Europe, 4.5% for those outside Europe.
• Processing time: Deposits can take up to one hour.

Withdrawals

• Withdrawal method: Cryptocurrency withdrawals only.
• Withdrawal fees: No fees for withdrawals to an internal Pionex address, fixed fees are applied for withdrawals to an external address.
• Withdrawal limits: Limits exist, but can be increased by providing KYC (Know Your Customer) information.

Note : Pionex does not offer withdrawals in fiat currency.

Pricing

Pionex stands out as a market maker for Binance and Huobi Global, allowing it to benefit from reduced transaction fees. Here are the main points of its pricing structure:

Transaction fees

• The fees per transaction amount to 0.05%, a competitive rate compared to Binance & Kucoin (0.1%) and Cryptohopper (0.15% per transaction).
• No additional costs for operating Pionex trading robots.

Market Maker Programs

• These programs are available for traders with a trading volume of 300,000 USDT or more.
• Eligible traders can take advantage of 0% market maker fees, while maintaining 0.05% taker fees.

Fees on Pionex

Pionex charges fees for transactions that create or withdraw liquidity in the market:

Pionex Transaction Fees

• The fee is currently set at 0.05% of the total transaction value.

Deposit fees

• For Crypto, it's free.
• For credit cards in Europe, the rate is 3.5%.
• For credit cards outside Europe, the rate is 4.5%.

Pionex Withdrawal Fees

• Fees vary by currency.

Market Maker Program

For very high volume traders, the Pionex Market Maker program could be interesting:

Program Eligibility

• Deposit $300,000 or more in USDT into your account or maintain the equivalent of $300,000 or more in another supported cryptocurrency.

Benefits of the Program

• Enjoy 0% market maker fees, with taker fees maintained at 0.05%.

Application conditions

• You can apply during the first 10 days of each month.
• A total account balance of $300,000 or more must be maintained on an ongoing basis.
• In case of disqualification due to a low balance, you must wait 30 days from the disqualification date to reapply.

How to create an account on Pionex

1. Go to the Pionex site

Visit the Pionex website: https://www.pionex.com. Click on the “Register” button located at the top right corner of the home page.

2. Enrollment form

Sign up by providing your email address or phone number. For this example, we're using the email signup option.

3. Confirm your email

A verification code will be sent by Pionex to your email address. When you receive it, enter this code and click “Confirm.”

4. Email verification

After entering the verification code on Pionex, a notification will confirm that your email address is verified.

5. KYC

At this stage, you will be able to complete the KYC (Know Your Customer) authentication process. You can choose to do it immediately or put it off.

6. Finalization

By clicking “Verify” you will be directed to complete the KYC process. If you choose “Cancel,” you will be taken to the desktop home screen. The entire registration process only takes 2 minutes.

Note: Before you can make a deposit and start trading, you need to complete the KYC form first.

Customer service

Pionex offers several support channels to access its customer service, thus guaranteeing responsiveness to your concerns.

• Email: You can reach the Pionex team by email at service@pionex.com for any questions or support requests.
• Live chat: On the home page of the Pionex site, a “Support” tab allows you to access a live chat. By clicking on “Live chat”, a pop-up window appears, allowing you to interact directly with a customer support representative.
• Online resources: Although customer service hours are not consistently stated on the site, Pionex does provide a series of useful tutorials on its YouTube page that can be accessed at any time to help you resolve your issues.

In the future, it would be beneficial for Pionex to further develop its customer service, by considering options like telephone support and by clearly communicating its business hours for live chat.

Security and Confidentiality

Pionex is a cryptocurrency trading platform that stands out for its deep commitment to the security and privacy of its users.

• Compliance with standards: Pionex does not only follow strict American security regulations, but also international standards for data privacy.
• Data protection: All user personal information is confidential, secured by end-to-end encryption, robust firewalls, and intrusion detection systems.
• Segregation of funds: Pionex keeps customer funds separate from those of the company, ensuring additional financial security.
• Identity verification: Pionex follows money laundering regulatory laws and Know Your Customer (KYC) practices, requiring identity verification prior to any transaction.
• Financial and technical support: With the financial support of ZhenFund and Gaorong Capital and the technical infrastructure of BitUniverse, Pionex is a trustworthy platform.

Pionex represents a secure and reliable trading solution that is always attentive to the confidentiality of its users' data.

Alternatives

If you are looking for alternatives to Pionex, we have compiled a list of the top 5 brokers that are similar to Pionex below.

1. Binance

Binance is one of the largest cryptocurrency trading platforms in the world, known for its impressive list of tradable assets and its advanced “trading bot.”

Features

• Over 200 cryptocurrencies available for trading
• Binance Coin (BNB) offers, its own cryptocurrency
• Advanced “trading bot” functionality to automate trades
• Mobile and desktop platform available

Pricing

• 0.1% base trading fee
• Discounts available with the use of Binance Coin

Binance is a solid option for those looking for a broad range of assets and an advanced “trading bot.”

2. Coinbase Pro

Coinbase Pro, a trading platform focused on the professional, offers a highly customizable “trading bot”.

Features

• Intuitive platform adapted to professional traders
• A large number of cryptocurrency trading pairs
• Customizable “Trading bot” to automate trading
• Responsive and reliable customer support

Pricing

• Trading fees ranging from 0.04% to 0.5%, depending on volume
• No Fees for Deposits or Withdrawals

Coinbase Pro stands out for its focus on the needs of professional traders and its customizable “trading bot.”

3. Kraken

Kraken is a secure cryptocurrency trading platform that offers “trading bots” to optimize transactions.

Features

• Over 50 cryptocurrencies available for trading
• Integrate “trading bots” to automate transactions
• Secure platform with a strong reputation
• Easy to use user interface

Pricing

• Trading fees ranging from 0.0% to 0.26%, based on volume
• Low deposit and withdrawal fees

Kraken offers a secure and easy to use interface, with “trading bots” for a better trading experience.

FAQs

What countries does Pionex accept?

Pionex accepts traders from numerous countries including the United States, Canada, Canada, Canada, Canada, Canada, Canada, Australia, India, France, Germany, Germany, United Kingdom, and many more.

What is Pionex Lite and is it safe?

Pionex Lite is a service that allows investors to buy Bitcoin and Ethereum in US dollars. It's safe, legal, and easy to use, even for inexperienced digital currency investors. Users can activate the Google 2FA Authenticator for additional security.

What is Pionex Smart Trade?

Pionex Smart Trade is a 24/7 “swing catcher” that allows you to program buying and selling at the same time with take profit and stop loss orders to avoid the risk of losses and improve your winning rate.

Final Verdict

Pionex is a unique and growing cryptocurrency exchange that offers a wide range of simple, yet sophisticated, trading bots that can be implemented without any knowledge or experience with coding, algorithmic trading, or cryptobots.

Although it is a new broker, a good level of security is provided and there is an impressive level of financial support, especially from two major Chinese venture capital firms.

While the automated trading functions are accessible to beginning traders, the lack of a demo account or phone number means that potential customers have no way of testing the broker before risking their capital.