Pionex is a platform that offers free crypto trading bots. As per the vendor’s claims, you never miss market shifts with this system. After analyzing it, we have found that it offers advanced strategies in exchange for low trading fees. Keep on reading to know all about the platform’s features.
About Pionex
It is a platform that has 16 in-built trading robots that you can use free of charge. Since it is 100% automated, you can purchase and sell digital assets on autopilot. It also has its in-house exchange, which makes conducting trades really easy.
Pionex crypto trading bot: how does it work?
This system has 16 free trading robots. All the bot strategies are pre-configured, so you don’t need to make any changes on your own. Some of the robots include Grid Trading Bot, Leveraged Grid, Margin Grid, Smart Trade, Reverse Grid, Arbitrage, and Infinity Grid. With the Grid bot, you can earn gains as the current asset value is in the net range. It initiates multiple buy and sell orders, buying low and selling high as long as the market fluctuates.
How to set up Pionex?
Firstly, you need to open an account on the official webpage. After signing up, you can log in and access the trading platform. Next, you need to add crypto coins to your wallet. After you can complete the transaction, you can see your deposit history. Then, you can click on the Trade button to bring up the trading interface where you can view the charts and the list of bots. You can choose to conduct manual trades as well.
Key takeaways
The minimum deposit for this system is quite low. Thus, even beginners with low budgets can get started with some of the bots for as little as $20. While trading on this platform, you can bring down the mean purchasing price when there is an unexpected price drop. It has partnerships with some of the top names in the industry, such as Banxa, Coinfirm, Simplex, Sumsub, Binance, and Circle. Also, it has been covered by media outlets like Bitcoin.com and Bloomberg.
User interface
The official website is quite easy to navigate. The platform is user-friendly and there are no overly complicated functionalities.
Trading strategy behind Pionex
There is a wide range of trading schemes that you can access on this platform. Some of the popular strategies include Grid, Arbitrage-Moderate, Arbitrage-Moderate, Leveraged Grid, Leveraged Reverse Grid, and Margin Grid.
How profitable is Pionex?
There is no surety that the system can generate profits. It depends largely on the trading style and the current market scenario. The crypto market is known for its high volatility and unexpected price shifts are quite common. That being said, you can employ risk management features to mitigate the losses.
Safety and security of Pionex
This platform is licensed by FinCen, which is a top financial regulator in the USA. It ensures the safety of your funds by aggregating liquidity from Huobi and Binance. Also, the platform maintains a full reserve for the users’ assets.
Customer support
You can get in touch with the support team via live chat after sharing some basic information. Also, there are vibrant communities on platforms like Discord, Telegram, and Facebook. So, we can say that the company offers reliable customer support.
Reputation
This platform came into being in 2019. It has its headquarters based in Singapore and the company has the support of BitUniverse.
Team members
The current CEO of this company is Daniel Seng-Cheng, who has over three decades of experience in the finance industry. Larry Toh acts as the Chief Compliance Officer and he too has vast industry experience.
Exchange compatibility
All trades are conducted through the in-house Pionex exchange.
Pionex pricing: is it worth your money?
There is zero cost for signing up on this platform. All the trading bots are free and there are no hidden charges. While conducting trades, you will incur a 0.05% maker and taker fee. Thus, trading with this system is much cheaper relative to other platforms on the market.
Pionex review: upsides and downsides
| Upsides | Downsides |
| Free trading bots | Fiat currencyis not supported |
| Low trading fees | |
| Multiple advanced strategies |
Pionex review: reputed platform offering multiple strategies
This is a system that is ideal for beginners. It does not have a steep learning curve and even one who knows nothing about the crypto market can get started for free. However, you must have digital funds in your wallet, since this system doesn’t let you exchange fiat currency for crypto coins.
