When it comes to cryptocurrency trading, there are numerous choices available in the market. Traditional crypto exchanges typically require users to execute their trades based on their parameters. However, Pionex aims to revolutionise this by providing 16 free trading bots for users. Is Pionex’s trading bots worthwhile? What other features does the platform offer? In this article, we delve into the features, pros and cons of Pionex, outlining how it might align with your requirements.
Spot & margin
Credit card, SEPA, crypto transfer
Spot (Maker: 0.05%, Taker: 0.05%); Leveraged (Maker: 0.1%, Taker: 0.1%)
Depends on crypto & network
ETH only (2.75% to 4.25%)
Android & iOS app
Live Chat, Email, FAQs, Social media
Established in 2019, Pionex is a centralised cryptocurrency platform that focuses on trading bots as its core service. The platform offers a range of in-built trading bots designed to cater to different trading strategies. With Pionex’s bots seamlessly integrated into the exchange, traders can automate their strategies without manually analysing real-time price charts.
What sets Pionex apart is its unique approach to crypto trading. It aggregates liquidity from two of the world’s most prominent exchanges, Binance and Huobi Global, allowing enhanced trading opportunities. Pionex serves users in over 100 countries, with a monthly trading volume of over $5 billion.
16 free-to-use built-in trading bots
A user-friendly and customisable interface
Value for money trading fee of 0.05%
Instant crypto-to-crypto swapping service
AUD withdrawals unsupported
No demo mode for trading bots
Pionex users can only stake ETH
No telephone contact number.
Pionex offers access to a wide range of over 120 cryptocurrencies, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Dogecoin (DOGE) and Shiba Inu (SHIB). However, it’s important to note that for crypto/crypto trading pairs, the base currencies are limited to BTC, ETH, USDT, BNB, BUSD, and USDC.
As Pionex does not support a fiat gateway, it does not facilitate fiat/crypto trading pairs like AUD/BTC or USD/BTC. Consequently, considering the absence of fiat trading options, Pionex may not be the top choice for Australians seeking to invest in altcoins.
For those new to crypto trading and charting, Pionex offers a user-friendly and easy-to-navigate interface. You can seamlessly switch between the standard trading interface, the interface with the in-built trading bots, and the coin-to-coin swapping service. Pionex also provides the popular TradingView charting package with drawing tools and indicators to aid in your crypto-buying decisions.
While there is no fiat gateway for Australians to deposit AUD or other traditional currencies, Pionex does offer a simple credit card feature to buy crypto. Although limited to USDT, BTC, and ETH, you can choose from over 80 fiat currencies as your payment asset.
It’s important to note that Pionex’s partnership with third-party payment providers facilitates the credit card gateway, and all buying options are quoted. Pionex aggregates the best deals for the USDT, BTC, or ETH you wish to buy from its liquidity partners, Binance and Huobi, ensuring competitive pricing for your crypto purchases.
16 Trading Bots
Pionex is a unique and leading market player among crypto exchanges that offer trading bots. What sets Pionex apart is that its in-built bots are seamlessly integrated into the exchange interface, making it easy for beginners to implement one of the 16 available bots with their own parameters. However, it’s worth noting that Pionex does not offer a demo mode for users to experiment with its trading bots.
Here is a brief description of some of Pionex’s popular trading bots:
Grid Trading Bot: This bot has a 0.05% fee and automatically buys an asset when the price falls below a preset “low” point and sells when the price rises above the user’s predetermined “high” point. This allows traders to take advantage of and potentially profit from market fluctuations.
DCA Bot: The DCA (Dollar Cost Averaging) Bot allows users to program a sequence of purchase orders at predetermined intervals. Unlike preset prices, the bot buys at the current market price, potentially achieving better long-term average pricing. Pionex supports intervals of 10 minutes, 1 hour, day, week, and month for DCA trading.
Dual Investment: Dual Investment is a structured saving instrument with a floating income not covered by the principle. The yield on the commodity is known and fixed at the time of purchase, but the settlement currency is unknown and subject to change. Pionex offers various dual investment options, such as Bitcoin-USDT Dual Investment and Bitcoin-USDT Dual Investment.
Smart Trade: Smart Trade is a sophisticated trading bot available 24/7. It allows users to buy and sell orders, profit-taking, and stop-loss levels. This can help users profit from uptrends while minimising the risk of significant losses.
Pionex Mobile App
Pionex offers its trading platform as a web-based app and dedicated versions for Android and iOS. The mobile application replicates all the features on the desktop version with zero latency, allowing traders to access up-to-date market data and pricing information from anywhere using the mobile app.
The user interface of Pionex’s mobile app is designed to be straightforward, making it easy for novice users to access all the features. Users can even create their trading bot in as little as one minute, thanks to the provided instructions. The app has received high ratings from users, with the iOS version on the Apple Store rated 4.8 stars out of 5, and the Android version on the Google Play Store rated 4.5 out of 5 stars.
Pionex Fee Structures
Pionex does not charge fees for depositing or withdrawing cryptocurrencies to and from its wallet. However, a standard network fee may apply during withdrawals, depending on the transferred asset, network congestion, and transaction complexity.
When it comes to trading fees, Pionex follows a maker-taker fee structure. A fee is incurred when placing trades that “make” liquidity on the market or “take” liquidity away. Pionex’s maker and taker fees are currently set at 0.05% of the total trade value. The fee is deducted from the total outstanding balance deposited into your account when the trade is closed.
For high-volume traders, Pionex offers a Market Maker program. To qualify for this program, you must deposit $300,000 or more in USDT to your account or maintain the equivalent of $300,000 or more in another supported coin or token. You’ll pay 0% in maker fees if eligible, while taker fees remain at 0.05%.
Applications for the Market Maker program can only be submitted within the first 10 days of any month. Once accepted, you must consistently maintain a total account balance of $300,000 or more. If disqualified due to a low balance, you may not reapply for the Market Maker membership for at least 30 days from the date of disqualification.
Pionex Exchange is powered by the reputable BitUniverse team, known for their popular all-in-one crypto auto-portfolio and trading bot App in South Korea, Indonesia, and Taiwan. With the support of BitUniverse’s extensive reach, Pionex has achieved regulatory compliance, providing clients with the assurance of oversight of the broker’s activities.
Traders can have peace of mind knowing that Pionex is regulated in Singapore and the U.S. In April 2020, Pionex was granted the U.S. MSB License, the same license obtained by top exchanges such as Binance and Huobi.
Notably, Pionex is the first cryptocurrency exchange with in-built trading bots to be granted this U.S. MSB license. As with any exchange, the only inherent risk with Pionex is that users do not have custody of their funds.
Pionex takes pride in its exceptional customer support system, which includes a comprehensive FAQ section covering various topics. If a question is not addressed in the FAQs, visitors can easily access the site’s live chat help for prompt assistance. The customer support team responds quickly and provides valuable guidance.
Users can also seek real-time assistance through Pionex’s built-in chat tool by contacting them or posting a request on their social media networks. Additionally, an email address is provided on the website for those who prefer to contact customer service directly via email.
Whether it’s inquiries about Pionex’s cryptocurrency trading platform, taker and maker fees, strategy statistics, withdrawals, deposits, supported tools, grid bot functionality, trade profits, security, holdings, or other transaction-related matters, the live chat feature is always available to connect with the competent customer support staff.
Are Pionex crypto bots free to use?
Yes. All 16 automated crypto trading bots offered on the exchange are free. Moreover, these bots are cloud-based, eliminating the need to keep your device running for them to operate seamlessly in the background.
Can you use a credit card on Pionex?
Yes. Pionex provides the fastest and most cost-effective options to buy Bitcoin, including credit cards, debit cards, bank wire, and ACH transfers. Some of these methods are tailored for US citizens, ensuring you can select the most suitable way to purchase Bitcoin on Pionex based on your country of residence.
What exchanges does Pionex work with?
Pionex combines the liquidity from Binance and Huobi, allowing you to trade with the combined demand of these two major exchanges. As a result, trading on Pionex is comparable to trading on Binance but with the added advantage of access to a trading bot with multiple settings.
Is the Pionex crypto exchange secure?
Pionex leverages the robust security measures of exchanges such as Binance and Huobi by storing its funds on these platforms. Moreover, Pionex has obtained an MSB license from FinCEN, further enhancing its regulatory compliance. Notably, Pionex has maintained a flawless security record, operating for a long time without any security breaches.
Does Pionex provide a demo account?
Unlike some of its counterparts, such as Bitsgap and 3commas, Pionex does not offer a demo account option. While simulated trading can be valuable for learning, testing strategies or bots, and exploring new markets without risking real capital, Pionex does not provide this feature. However, Pionex offers a range of other features and benefits that make it a competitive choice for cryptocurrency traders.
Pionex is a leading cryptocurrency exchange that is particularly well-suited for traders who rely on trading bots and have limited time for market tracking and analysis. With a diverse selection of 16 trading bots, Pionex is likely to meet the needs of various trading strategies. The exchange also boasts an impressive offering of over 120+ coins and features low trading fees of 0.05%, ensuring cost-effective trading.
However, there are a couple of drawbacks to note. Pionex does not support AUD deposits or withdrawals, which may be inconvenient for Australian traders. Additionally, the exchange does not offer a demo account for practising trading or exploring the platform, which could be a limitation for traders who prefer simulated trading to familiarise themselves with the platform.